Shocking advancements in the 2020 Cruising Industry have been confirmed. It was announced on June 19th that Carnival would sell a portion of their fleet, accounting for significant losses that’ve been sustained during the coronavirus pandemic. Carnival Cruises Ltd saw their funds deplete by $4.4 Billion in three months. It’s the most significant drop industry-wide with the current reports released. Financial data from Carnival indicated that revenue initially dropped by $700 million in March. Additional losses were sustained after the Centre of Disease Control banned all international cruising. Thousands of vessels were forced to dock, with all corporations in the industry facing significant losses.
Multiple cruise lines have confirmed their operations will be paused until Fall 2020, with others working diligently with world governments to resume sailing this summer. It’s proving more difficult that Carnival, Disney, Royal Caribbean, and NCL could’ve ever imagined. The second wave of coronavirus is nearing the shores of global nations, prompting significant concern that industry delays will follow until the 2021 Summer Season. Few cruise lines could sustain this postponement to sailing, entering inevitable bankruptcy.
The Cruise Lines International Association has clarified that multiple vessels weren’t able to dock during COVID-19, having to anchor themselves offshore. This was because governments have banned cruise ships from entering their borders, with Carnival Cruise Lines having to announce that 21+ thousand employees were forcibly told to remain on board. Carnival doesn’t disobey government orders & couldn’t refuel to access other ports. Though Representatives mentioned, all employees will return home by June 30th at the latest.
The operational costs of maintaining these cruise liners during COVID-19 is forcing $250 million in losses per month for Carnival. 39 of 100 vessels haven’t reached their destined harbour, with the remaining sixty-one being declassified for operational status. After confirming details on their fleet of cruise liners, PR Representatives mentioned that six vessels would be lost for a cost of $250 to $500 million per ship. This will allow Carnival to outweigh the associated losses they’ve faced during the novel coronavirus. Details on which vessels are being sold wasn’t clarified, with inside sources claiming Carnival is selling outdated models in their fleet.