TLCOhio

Appreciate these very good insights, comments and follow-ups from our travel friend in Europe/Holland. Good points about certain of the central bankers having missed many key issues affecting finances. And, how ship "values" do not inflate up over time. From MSN News and this financial website this morning, they had this headline: “Why Cruise Line Stocks Were Sinking This Week” with these highlights: “One of the industries that was hit the hardest by the coronavirus pandemic was a real downer this week too. Following a dark analyst note regarding Carnival in particular, all three of the major cruise industry stocks have been hammered over the past few trading days. S&P Global Market Intelligence data reveals that Carnival, Norwegian Cruise Line Holdings, and Royal Caribbean had all declined by double-digit percentages week to date before the opening bell Friday. Although it wasn't the only catalyst contributing to cruise stocks' plunge, a new analysis from investment bank Morgan Stanley laid out a grim scenario for Carnival. Analyst Jamie Rollo made fairly deep cuts to his revenue forecast for the second half of this year, and to his price target on the stock. Of greater concern was Rollo's new worst-case scenario, in which he speculated that if a new shock to cruise demand -- like the onset of the pandemic -- occurs in the coming months, the value of Carnival stock could plunge to $0.” Here is more from this analysis: "Since the key factors behind the analyst's very bearish take on Carnival apply to the company's peers, Norwegian and Royal Caribbean stocks plunged as well. Compounding that for Norwegian, two investment banks published fresh research notes on the cruise operator. Barclays initiated coverage on it with an equal-weight (i.e., neutral) recommendation, while Citigroup lowered its price target on the stock to $13 per share from the previous $18 while maintaining its neutral rating." Full story at: https://www.msn.com/en-us/money/topstocks/why-cruise-line-stocks-were-sinking-this-week/ar-AAZ4FCx THANKS! Enjoy! Terry in Ohio Lisbon, NWSpain, Bordeaux/Brittany: Live/blog, June 2017 from Portugal to France along scenic Atlantic Coast on the Silver Spirit. Now at 32,401 views. Many interesting pictures, details for history, food, culture, etc.: www.boards.cruisecritic.com/showthread.php?t=2511358

Good luck on your sailing and look forward to hearing details about your various, upcoming port stops, the Silver Muse food, etc. Will you be spending added time at the end of your cruise in wonderful and charming Vancouver? As detailed below, we super enjoyed this exciting part of the world before the Covid shut-downs. Keep us posted with lots of details. Pictures to share?? THANKS! Enjoy! Terry in Ohio Summer 2019 Calgary, Jasper/Banff National Parks, Western Canada Rocky Mountaineer rail adventure, Vancouver, sailing up to Alaska on Silver Muse, post-cruise excursion to Denali, etc. Many visuals and details from our first in these scenic areas! Live/blog: https://boards.cruisecritic.com/topic/2682584-live-terryohio-silver-muse-alaska-canadarockies-pix’s/

Very good question above, plus the added info/response of "The refurbished Wind will replace the Explorer. But it would be wonderful if they added the Endeavor." We want to do the cruise to Antarctica. The more good ships doing this adventure routing that makes things better and provide more options. Look forward to seeing how this all works out. THANKS! Enjoy! Terry in Ohio

Great information and update. Appreciate these comments and follow-ups from the important UK. Yes, we can hope for the better times ahead, but today in U.S., per an Associated Press poll in the Washington Post, 85% view our nation as headed in the wrong direction and nearly 80% view the economy as "poor". Not a great vote of confidence for the future. Just talked earlier this week with a long-time, good friend in New York City who has been plugged in with the various, high-level financial types there in that NY-NJ region for decades. He is seeing lots of travel and spending, now, this summer, as people recover from two years of being cooped up and shutdown. BUT, coming in September is when things, he believes, really "hit the fan" as per the looming recession, financial tightening, etc. Lots of "storm clouds" and "choppy waters" are lurking. That will have its serious impacts on the cruise business and other related fields. He provided me with more specifics and many details to back up his future, sad prediction. We can all hope and wish, but we need to be prepared for future realities. What goes up, sometimes goes down? THANKS! Enjoy! Terry in Ohio Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,543 views. www.boards.cruisecritic.com/showthread.php?t=1227923

Sorry to bring more cruise stock bad news. From the Wall Street Journal's sister publication of Barron's this morning, they had this headline: “These Cruise Stocks Are the S&P 500’s Worst Performers in the Second Quarter” with these highlights: “The stock market close Thursday will wrap up the second quarter of 2022 —and what a quarter it has been. A lot has happened between April and June. Notably, markets have been thrown into disarray as the Federal Reserve — in its battle to cool rising inflation — raised interest rates by the most since 1994, fueling fears that its aggressive policy could lead to a recession.” Their story, which is hard to reach behind their tight paywall, specifically cited Carnival and Royal Caribbean falling stock values. Is now a great buying opportunity? Or, could and will these stock values go lower? But, hopefully not down to zero?? Full story at: https://www.barrons.com/articles/worst-stocks-royal-caribbean-carnival-netflix-51656602608 THANKS! Enjoy! Terry in Ohio Athens & Greece: Many visuals, details from two visits in a city with great history, culture and architecture. Now at 44,735 views. http://boards.cruisecritic.com/showthread.php?t=1101008

Continued good comments, sharing and follow-ups regarding shots, vaccines, etc. Which MD's and medical personnel know what is happening now and will be most important for the future? From a key trade publication this morning, they had this headline: “Leadership styles must be ‘completely reset’ to reflect pandemic lessons" with these highlights: “Travel industry leaders must learn from the challenges they faced during the pandemic and 'completely reset' their management approach, according to speakers at the third annual International Women in Travel and Tourism Forum. Jo Rzymowska, Celebrity Cruises EMEA vice-president and managing director, encouraged leaders to acknowledge the 'non-stop' challenges the industry is facing, and alter their leadership styles to reflect the impact of the pandemic and the period of uncertainty travel businesses are experiencing. She said: 'We are living with Covid and on top of that we have got the devastating situation in Ukraine, the cost of living crisis and the current air travel chaos, so we are in a situation that is non-stop and we all need to completely reset our leadership styles.' 'When I became a leader, I wasn’t allowed to show vulnerability, but now we are in a better period and we are realising that saying you don’t know the answer to something and showing vulnerability is so important.' 'We are in a turbulent time and people want direction', she said. 'Leaders need to listen to their staff then put a stake in the ground and say ‘this is where we are going’. We have to make decisions when we don’t know what will happen next, and leaders need to take ownership of their business and move forward.' ” Here is more: "Amanda Mason, head of marketing for Roadchef, urged leaders to make time for their teams and listen to what they had to say. 'It is all about listening to people – you must get to know your team and hear their thoughts and feelings', she said. 'If they feel heard at work then that will be reflected in their output.' " Listening to the customers and staff?? Is that radical and new? Full story at: https://travelweekly.co.uk/news/tour-operators/leadership-styles-must-be-completely-reset-to-reflect-pandemic-lessons THANKS! Enjoy! Terry in Ohio Athens & Greece: Many visuals, details from two visits in a city with great history, culture and architecture. Now at 44,735 views. http://boards.cruisecritic.com/showthread.php?t=1101008

Very interesting thread and situation. Our highly-experienced travel agent has for the past year or so been strongly advising against even thinking about and/or considering cruises/travel involving Japan, China and these parts of Asia. Too much uncertainty!! She continues to be wise and knowing for expressing those cautions. Hope things work out for this cruise and Japan. We would like to visit for the first time these interesting parts of the world. BUT, we are glad not to be needing to worry right now about ALL of these various questions and unknown policies/requirements. Good luck!! THANKS! Enjoy! Terry in Ohio Sydney to NZ/Auckland Adventure, live/blog 2014 sampling/details with many exciting visuals and key highlights. On page 23, post #571, see a complete index for all of the pictures, postings. Now at 237,805 views. www.boards.cruisecritic.com/showthread.php?t=1974139

Want some more "buying opportunities"?? See below for the latest from the Wall Street financial experts. From the Wall Street Journal early morning today, below is the chart for Carnival. Not only was yesterday bad for this major cruise stocks, but it has affected all three companies. Down, down has been the trend for the past two days. A new 52-week low for Carnival. Ready to get out your checkbook and buy, buy, buy?? THANKS! Enjoy! Terry in Ohio

YES!! Great summary and visuals from Spins. "Magical" is the perfect word. My recollection is that the time and effort going back to the evening program was not that long or bad. Might depend on where the ship is docked. THANKS! Enjoy! Terry in Ohio Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,543 views. www.boards.cruisecritic.com/showthread.php?t=1227923

Great, above funny, honest line/comment!! Given yesterday's huge slide in stock market values assigned to the three major cruise lines, economic "REALITIES" need to be considered when bidding on such "used" ships. The financial "laws" cannot be ignored as to what certain assets might be worth. Or, not!! Be interesting to see what finally happens. But, with a looming recession coming later this year, even rich folks/companies need to be careful as to what they buy and how they make the financial numbers work for capital and operating purposes. THANKS! Enjoy! Terry in Ohio

YES!! Did this evening concert at Ephesus in 2006 with Seabourn. It was super excellent and very enjoyable, especially as the sun set in this historic setting with nice music and a wonderful environment. Need proof and evidence? Below are a few of my visuals. Go for it if possible. THANKS! Enjoy! Terry in Ohio From late 2018, see “Holy Lands, Egypt, Jordan, Oman, Dubai, Greece, etc.”, with many visuals, details and ideas for the historic and scenic Middle East. Now at 20,974 views. Connect at: www.boards.cruisecritic.com/topic/2607054-livenautica-greece-holy-lands-egypt-dubai-terrypix’s/ Here is a visual sampling from walking into this historic site in the evening and then for being there as the structures are lighted up as the sun sets. Amazing sites and a highly-enjoyable experience!!: (Open your screen/viewer wider to see these visuals larger/better!)

Very good comments, sharing and follow-ups regarding shots, vaccines, etc. Keep it coming!! From the Miami Herald in the heart of cruise country this morning, they had this headline: “Deals, delays and COVID rules: Tips for travelers booking a getaway for summer and fall" with these highlights: “If you see a deal you like, take it. It may not last. Whether you’re traveling inside the U.S. or beyond, be prepared for delays. Keep your toothbrush, all medications and a change of essentials in your carry-on luggage. Get to the airport early, and avoid checking luggage if possible. Pay attention to emails from your airline. Some alert you to flight cancellations or changes; others advise how to upload vaccination documents in advance to cut your time in the airport line. Got extra time? Check the deals for giving up your seat. Foreign citizens who are not U.S. residents are still required to be vaccinated and to test prior to entering the U.S. Consider using a travel agent or booking a tour. If you get delayed or into a jam, the agent or operator is there to help. If you’re booking a cruise, tour or making substantial payments up front, think about travel insurance that covers delays, disruption, medical costs and evacuation. Now-common airline delays can upend plans.” Many good ideas and reminders through this reporting. Times are not "normal" now and we need to be prepared properly. Full story at: https://www.miamiherald.com/living/travel/article262802283.html THANKS! Enjoy! Terry in Ohio AFRICA?!!?: Fun, interesting visuals, plus travel details from this early 2016 live/blog. At 52,918 views. Featuring Cape Town, South Africa’s coast, Mozambique, Victoria Falls/Zambia and Botswana's famed Okavango Delta. www.boards.cruisecritic.com/showthread.php?t=2310337

Super excellent above background, links and insights from RetiredandTravel. Very wise and helpful information and questions. Yes the Illinois Constitution’s pension-protection are costly and hard to sustain and fund long-term. Who should bail them out of their fiscal mess? Just talked this morning with a long-time, good friend in New York City who has been plugged in with the various financial types there in that region for decades. He is seeing lots of travel and spending, now, this summer, as people recover from two years of being cooped up and shutdown. BUT, coming in September is when things really "hit the fan" as per the looming recession, financial tightening, etc. Lots of "storm clouds" and "choppy waters" are looming. That will have its serious impacts on the cruise business and other related fields. He provided me with more specifics and details to back up his future prediction. We can all hope for the best, but we need to be prepared for future realities. What goes up, sometimes goes down. THANKS! Enjoy! Terry in Ohio Dubrovnik! Nice visual samples, tips, details, etc., for this super scenic and historic location. Over 48,835 views. http://boards.cruisecritic.com/showthread.php?t=1439227

Appreciate these added posts and follow-ups. Something strange is happening in the stock markets right now. Royal Caribbean is down about 10% right now. Carnival has dropped nearly 15%, going down below $9 a share. Must be that Morgan Stanley report/analysis that is making financial types want to sell, sell, sell?? THANKS! Enjoy! Terry in Ohio

Interesting article and update!! That's big money being discussed as a potential selling price for this expedition ship. Does the former Silversea owner really have that kind of serious money to spend and invest? To buy it and operate this ship? THANKS for sharing! Enjoy! Terry in Ohio

Encouraging update. Glad that you do have to return home early. Keep plugging and love being pampered by the Silversea staff. Make the best of a challenged circumstance. THANKS! Enjoy! Terry in Ohio

From the Reuters newswire and Yahoo this morning, they had this headline: “Futures rise as easing China COVID curbs lift travel, leisure stocks” with these highlights: “Travel and leisure shares propped up U.S. stock index futures after China relaxed some COVID-19 quarantine requirements for international travelers, raising hopes of a revival in global growth. Airlines, cruises, casinos and hotels were among the gainers in premarket trading after China's slashing of the quarantine time for inbound travelers by half boosted hopes of a big jump in international travel and spending. Wall Street's main indexes started the week on soft footing after worries of surging inflation and an aggressive Federal Reserve dominated sentiment amid few market moving catalysts till the start of earnings season in two weeks. Investors are now looking at data to determine whether the economy can withstand large interest rate hikes by the U.S. central bank to stamp out inflation.” Good news with China re-opening? Full story at: https://news.yahoo.com/futures-rise-easing-china-covid-114741772.html THANKS! Enjoy! Terry in Ohio Kotor/Montenegro: Exciting visual samples, tips, details, etc., for this scenic, historic location. Over 49,349 views. http://boards.cruisecritic.com/showthread.php?t=1439193

YES!! Very good video and important background information. Appreciate this posting and these follow-ups. It helps better explain what is going on there now in Ecuador. And, why. It is also a vital reminder that over time, Latin and South America have had various "issues" and differences of opinion as to how their governments will operate and be managed. Unique history in this part of the world!! It has not always been calm and boring for certain of these countries. Remember well the tangled history, as an example, with Argentina and Chile, etc. THANKS! Enjoy! Terry in Ohio AFRICA?!!?: Fun, interesting visuals, plus travel details from this early 2016 live/blog. At 52,918 views. Featuring Cape Town, South Africa’s coast, Mozambique, Victoria Falls/Zambia and Botswana's famed Okavango Delta. www.boards.cruisecritic.com/showthread.php?t=2310337

YES!! Love garlic bread to soak up that excellent broth with mussels. And, Canada beer, too!! Very tasty and exciting. Keep sharing the great tips and suggestion for doing the Canada Maritime region in late August All paid up as of yesterday for this trip with Tauck From the Wall Street Journal this morning, they had this headline: “New Covid Vaccines Targeting Variants Are Weighed for Fall Booster Campaign" with this sub-headline: "FDA advisers to consider recommending shots updated for Omicron or possibly sticking with original formulations.” Here are some of their reporting highlights: “Advisers to U.S. health regulators are set to meet Tuesday to consider whether and how Covid-19 vaccines should be updated to better target circulating variants of the coronavirus, in preparation for a fall booster-shot campaign. The advisory panel to the Food and Drug Administration, which includes doctors and public-health specialists, is expected to vote later in the day on whether to recommend updating Covid-19 vaccines to target the Omicron variant. The options for a fall booster shot include sticking with current vaccines or using updated, Omicron-targeted vaccines that have shown promise in clinical studies. Another option: Use boosters that target more recent Omicron subvariants, including BA. 4 and BA. 5, but which haven’t been tested in people.” After having the two Moderna vaccine shots, plus being double-boosted, we might have thought and hoped that we were "DONE". But, we are not finished with the shots and vaccines. More options to consider as Covid has its variations, medical twists and turns. Are you tired of this by now? What, however, are our alternatives? Full story at: https://www.wsj.com/articles/new-covid-vaccines-targeting-variants-are-weighed-for-fall-booster-campaign-11656414001?mod=hp_lead_pos13 THANKS! Enjoy! Terry in Ohio Amazon River-Caribbean 2015 adventure live/blog starting in Barbados. Many visuals from this amazing river and Caribbean Islands (Dutch ABC's, St. Barts, Dominica, Grenada, San Juan, etc.). Now at 70,063 views: www.boards.cruisecritic.com/showthread.php?t=2157696

Appreciate these very good comments and varied smart follow-ups about a range of serious financial issues from our SW Ohio neighbor. From the Wall Street Journal yesterday, they had this headline: “Pension Funds Plunge Into Riskier Bets—Just as Markets Are Struggling" with this sub-headline: "More public pension plans than ever are using leverage, investing borrowed money in an effort to earn higher returns and close big funding gaps.” While this story does not directly connect with cruise lines and their operations, it makes the point and raises major questions about the "Casino-mentality" that operates in, around and with the Wall Street types. Is more risk to spin the wheel for higher returns worth the potential downsides? Here are some of their reporting highlights: “U.S. public pension funds don’t have nearly enough money to pay for all their obligations to future retirees. A growing number are adopting a risky solution: investing borrowed money. As both stock and bond markets struggle, it’s a precarious gamble. More than 100 state, city, county and other governments borrowed for their pension funds last year, twice the highest number that did so in any prior year, according to a Municipal Market Analytics analysis of Bloomberg data. Nearly $13 billion of these pension obligation bonds were sold last year, which is more than in the prior five years combined.” Ready to gamble? How risky are your bets? Full story at: https://www.wsj.com/articles/pension-funds-plunge-into-riskier-betsjust-as-markets-are-struggling-11656274270?page=1 THANKS! Enjoy! Terry in Ohio AFRICA?!!?: Fun, interesting visuals, plus travel details from this early 2016 live/blog. At 52,918 views. Featuring Cape Town, South Africa’s coast, Mozambique, Victoria Falls/Zambia and Botswana's famed Okavango Delta. www.boards.cruisecritic.com/showthread.php?t=2310337

Sorry to hear. WOW!! Very challenging and not good timing as you are only starting this adventure. Keep us posted! Hope you have good travel insurance for this trip as you might need to evaluate your options as to whether to return home early, how, etc. Good luck!! THANKS! Enjoy! Terry in Ohio

Appreciate this great and quick follow-up. Wonderful, exciting itinerary!!! We have not visited any of these locations and look forward to reading all of your details, loves, highlights!! Safe boarding and sail-away. THANKS! Enjoy! Terry in Ohio

From the Wall Street Journal yesterday morning, they had this headline: “Cruise Lines Can’t Duck Their Debt" with this sub-headline: "As the cruise industry recovers, debt that buoyed business during the pandemic now could sink stocks.” Here are some of their reporting highlights: “Cruise ships are like ducks—elegant and effortless above the water, fighting like crazy to stay afloat beneath. On the surface, the industry is finally steaming ahead after over a year at bay: The world has reopened, occupancy limits have relaxed and bookings are at or above prepandemic levels. Carnival, Royal Caribbean and Norwegian are all eyeing a near-term return to profitability this year—a milestone they are hoping will reignite investor interest, with their shares down an average of over 45% over the past six months. On Friday, Carnival said it was still on track to see profits in the current quarter on the basis of adjusted earnings before interest, taxes, depreciation and amortization, sending shares of the entire sector up an average of nearly 15% on the day. But for an industry just regaining its sea legs, the unfortunate reality is that it is sailing into a possible recession, with inflation and higher interest rates pinching an already cost-conscious consumer. Carnival, for example, also said Friday that cumulative advance bookings for the second half of the year are at lower prices compared with 2019 sailings, in part because of capacity increases—a change from higher prices on that basis as of March.” Also cited: "Cruise companies are carrying boatloads of new debt taken out over the past two years to make ends meet. Despite a likely return to quarterly profits over the next few months, all major cruise lines’ debt-to-income ratios will soar to eye-popping levels in 2022 and are forecast to remain well above prepandemic levels even next year. Risks abound. Forecasts earlier this month from Truist’s Patrick Scholes show Carnival, which started the pandemic better-capitalized than peers, ending next year with a net debt to Ebitda ratio of around 4.6 times, versus 6.4 times for Norwegian and 5.5 times for Royal Caribbean. Spreads on Royal Caribbean’s credit-default swaps have more than doubled in six months, according to FactSet. As of the end of March, Royal Caribbean had roughly $8 billion in scheduled principal repayments through the end of next year, according to Truist—some 77% more than Carnival had at the time—despite Wall Street forecasting Royal Caribbean to earn over 30% less than its competitor on an adjusted Ebitda basis over the course of this year and next." Interesting comments and questions about cruises company debt? Reactions? Full story at: https://www.wsj.com/articles/cruise-lines-cant-duck-their-debt-11656252181 THANKS! Enjoy! Terry in Ohio Amazon River-Caribbean 2015 adventure live/blog starting in Barbados. Many visuals from this amazing river and Caribbean Islands (Dutch ABC's, St. Barts, Dominica, Grenada, San Juan, etc.). Now at 70,025 views: www.boards.cruisecritic.com/showthread.php?t=2157696

From MSN News and this financial website Friday, they had this headline: “Cruise Stocks CCL, RCL, NCLH Heat Up on Travel Rebound Hopes” with these highlights: “Cruise stocks are getting a boost as investors react to a recent earnings report from Carnival. Carnival released its earnings report for the second quarter of 2022 on Friday. In that report, the company posted a revenue of $2.4 billion. That ended up missing Wall Street’s estimate of $2.61 billion for the period. Even so, that $2.4 billion in revenue is a 50% increase when compared to revenue from the first quarter of 2022. That major increase in sequential revenue has investors hoping that summer travel is set to recover from Covid-19 pandemic lockdowns last year. And it’s not just CCL stock that is benefitting from this thought process. Other cruise stocks are also rising alongside Carnival’s most recent earnings report. It’s also worth mentioning that all of these cruise stocks are seeing heavy trading. This is likely due to investors buying the discounted shares in hopes of recovery during the summer months.” Full story at: https://www.msn.com/en-us/travel/news/cruise-stocks-ccl-rcl-nclh-heat-up-on-travel-rebound-hopes/ar-AAYQ4IR?ocid=BingNewsSearch THANKS! Enjoy! Terry in Ohio Venice: Loving It & Why??!! Is one of your future desires or past favorites? See these many visual samples for its great history and architecture. This posting is now at 96,271 views. http://boards.cruisecritic.com/showthread.php?t=1278226

From a key trade publication this morning, they had this headline: “Carnival Cruise Line Aims For 110 Percent Occupancy” with these highlights: “In its quarterly business update, Carnival Corporation’s outgoing CEO Arnold Donald mentioned the company was aiming for 110% occupancy levels for at least one cruise line, Carnival Cruise Line. With the busy summer months coming up, the cruise industry expects to welcome more and more families onboard, who typically sleep together in a cabin. A complete, 100% occupied ship means all cabins have at least two people. Going over that would mean 3- or even four people per cabin. While it certainly would be great for business, many would question whether the timing for stretching occupancy levels above 100% is too early. Couple that with the continued presence of COVID-19 onboard cruise ships, pushing occupancy levels to the highest possible seems risky. According to Carnival Corporation, the company has been making progress on the crew shortages onboard its ships. Those shortages have already burdened the crew members onboard, who in many cases have seen their vacations cut short and contracts extended. Those shortages have also resulted in many cruises being adjusted or placed under occupancy constraints. Christine Duffy, the President of Carnival Cruise Line, reported earlier this month that Carnival had closed agreements with the U.S. State Department and the US Customs and Border Protection to ease the entry and visa requirements for joining crew members. So while this may have helped reduce the problems with crewing the ships, the other big problem remains COVID-19. In recent weeks there has been an increase throughout the cruise industry in reported cases.” Full story at: https://www.cruisehive.com/carnival-cruise-line-aims-for-110-percent-occupancy/75138 THANKS! Enjoy! Terry in Ohio Sydney to NZ/Auckland Adventure, live/blog 2014 sampling/details with many exciting visuals and key highlights. On page 23, post #571, see a complete index for all of the pictures, postings. Now at 237,747 views. www.boards.cruisecritic.com/showthread.php?t=1974139