TLCOhio

As potential travelers consider future cruises, the economy with higher interest rates, inflation and a looming recession is on their minds. What do consumer do and how do they spend their money?? Might it means lower costs for future cruises and/or more financial challenges for company executives jungling higher fuel costs, attracting staff, paying off billions of dollars in debt, etc.? From the Washington Post as their lead story this morning, they had this headline: “Americans are starting to pull back on travel and restaurants" with this sub-headline: "In a worrisome sign for the economy, U.S. consumers are beginning to spend less on services.” Here are some of their story highlights: “More Americans are beginning to hold off on booking flights, getting haircuts, building backyard pools and replacing old leaky roofs — in some of the new signs that the consumer engine of U.S. economic growth could be losing steam. Over the past several weeks, households had already cut back on big-ticket purchase because of soaring prices, but in a worrisome twist, data suggests consumers are also beginning to tap the brakes on dining out, vacation plans and even routine services like manicures, hair cuts and home-cleaning appointments. Business owners around the country say rising prices, dwindling savings and concerns of a souring economy are taking a toll on household spending decisions. Consumer spending, which makes up more than two-thirds of the U.S. economy, has held strong through April even with inflation at historic highs. But there are growing signs that the spending streak could be ending.” Here is more behind this analysis: "Retail sales slowed last month for the first time this year, driven by a 4 percent drop in car sales. U.S. flight bookings dipped 2.3 percent in May from a month earlier, according to data from Adobe Analytics. And both high- and low-income Americans have begun pulling back, particularly on services, in the past four to six weeks, according to an analysis of credit card data by Barclays. The slowdown in spending is now concentrated in services, not goods, the bank found in a new analysis of credit card data. Spending on services like travel and restaurants, which was growing more than 30 percent from 2021 rates this year, has now slowed to half that pace, according to the Barclays analysis." Full story at: https://www.washingtonpost.com/business/2022/06/18/consumer-spending-slowing-economy/ THANKS! Enjoy! Terry in Ohio Panama Canal? Early 2017, Fort Lauderdale to San Francisco adventure through Panama Canal. Our first stops in Colombia, Central America and Mexico, plus added time in the great Golden Gate City. Now at 31,327 views. http://boards.cruisecritic.com/showthread.php?t=2465580

Appreciate ALL of these great comments and follow-ups, including above by our Pennsylvania neighbor in the suburbs north of Philadelphia. YES, agree, lots of continued "trade-offs" and questions as to what restrictions and standards are to be applied and required for the future of cruising. Right? Next, here is an interesting story as to how cruising is evolving as finances continue to be a challenge for cruise lines in getting back to some type of long-term "normal". The Asian/China market continues to be a huge "Mystery Meat" question for cruise executives to consider in southern Florida. From MSN News and former USA Today travel/cruise expert writer Gene Sloan this morning, they had this headline: “From record-setter to rubbish: World’s biggest cruise ship to be scrapped without sailing a single voyage” with these highlights: “An unnamed cruise vessel of nearly record proportions that has been under construction in Germany for an Asia-focused cruise line will be scrapped before sailing a single voyage, according to German shipping magazine anBord. This week anBord reported that the liquidators for the bankrupt MV Werften shipyard in Warnemunde, Germany, will sell the bulk of the half-finished ship for scrap and attempt to resell some of its systems and engines. The vessel, often referred to as Global Dream 2, and a sister ship that had also been under construction at the MV Werften shipyard were designed to hold more than 9,000 passengers, making them the world’s largest cruise ships by passenger capacity. Both of the ships were on order for Asia-based Dream Cruises, which collapsed along with its parent company Genting Hong Kong earlier this year after its revenues plummeted due to COVID-19 pandemic-related shutdowns. The MV Werften shipyard was also part of Genting Hong Kong, as was Asia-based line Star Cruises and luxury line Crystal Cruises. Like Dream Cruises, the latter two lines are being liquidated.” Full story at: https://www.msn.com/en-us/travel/article/from-record-setter-to-rubbish-world-s-biggest-cruise-ship-to-be-scrapped-without-sailing-a-single-voyage/ar-AAYBCNr?ocid=BingNewsSearch 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 32,357 views. Many interesting pictures, details for history, food, culture, etc.: www.boards.cruisecritic.com/showthread.php?t=2511358

From the Wall Street Journal this morning, they had several top headline that caught my attention. This includes: “Bitcoin’s Price Falls Below $20,000" with this sub-headline: "The cryptocurrency has lost 72% of its value from its record high in November.” Here were the story highlights: “The price of bitcoin lurched below $20,000, and below a level widely monitored by cryptocurrency enthusiasts, as a brutal selloff in crypto showed no signs of abating. Bitcoin fell as low as $18,739.50 and stayed below $20,000 on Saturday, according to CoinDesk, losing 72% of its value from its high in November. Concerns about the Federal Reserve’s actions to tame higher-than-expected inflation have pushed both stocks and cryptocurrencies into a bear market.” “The Crypto Party Is Over" with this sub-headline: "The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount.” Here were their reporting/analysis highlights: “On Super Bowl Sunday, a Crypto.com ad featuring billionaire NBA star LeBron James lit up millions of Americans’ TVs. 'If you want to make history, you gotta call your own shots,' Mr. James said in the 30-second spot for the popular cryptocurrency-trading platform. The words that splashed across the screen as the commercial ended read 'Fortune favors the brave.' Last week, Crypto.com laid off 5% of its workforce as its chief executive officer said on Twitter that the company was making 'difficult and necessary decisions.' Bitcoin backers’ rallying cry to rebuff skeptics was, 'Have fun staying poor.' Those who didn’t buy in were letting the future pass them by.” Here is more: "At times, crypto has looked like a combination of Beanie Babies, dot-com stocks and the Velvet Underground: It is manic, it is money, and all the cool people are into it. It has also shared characteristics with other bubbles throughout history, marked by speculation bordering on delusion, disregard and disrespect for risk, and greed." Cute analysis and summary? Crypto never sounded solid and honest to me. Sure glad, sorry LeBron, that I was not "BRAVE" and ignored such a phony, over-hyped game. Am I missing something important that will be rebounding strongly? Or, smart by avoiding it as Crypto continues its negative slide?? My prediction: There are a certain number of Crypto "investors" who will not be using those "profits" to pay for future cruises. Full stories at: https://www.wsj.com/articles/bitcoins-price-falls-below-20-000-11655542641?mod=hp_lead_pos1 https://www.wsj.com/articles/the-crypto-party-is-over-11655524807?mod=hp_lead_pos7 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 32,357 views. Many interesting pictures, details for history, food, culture, etc.: www.boards.cruisecritic.com/showthread.php?t=2511358

Yes, the cruise stocks did bounce back, a little, Friday. See the detailed Wall Street Journal charts below. Overall, it was a highly-negative week for the cruise stocks, plus a bad past month. All three of these major cruise lines hit 52-week lows on Thursday. Part of it was the overall lack of confidence with most all stocks. Will Friday's upswing continue during the next week? Or, continue the downward slide? Higher interest rates and a looming recession has many investors and consumers very worried. Do you book a cruise six or ten months in advance, putting down serious money, when there are too many questions and serious doubts??? Plus, if and how does Covid re-bound later this year? Great comments and follow-ups about the economic trends and shifts by RetiredandTravel and our SW Ohio neighbor. Yes, Presidents get credit for good trends and blame for the negative events. Whether they control it . . . or not. That is the way it goes. Not always fair and accurate. The "blame-game" always happens and is debated by both sides. That's politics!! From the Reuters news wire yesterday, they had this headline: “Stocks in biggest weekly loss since 2020 on interest-rate worries” with these highlights: “World stocks on Friday closed out their steepest weekly slide since the pandemic meltdown of March 2020, as investors worried that tighter monetary policy by inflation-fighting central banks could damage economic growth. The U.S. Federal Reserve's biggest rate hike since 1994, the first such Swiss move in 15 years, a fifth rise in British rates since December and a move by the European Central Bank to bolster the indebted south all took turns roiling markets. For the week, the S&P 500 dropped 5.8%, also its biggest fall since the third week of 2020. 'Inflation, the war and lockdowns in China have derailed the global recovery,' economists at Bank of America said in a note to clients, adding they see a 40 percent chance of a recession in the United States next year as the Fed keeps raising rates.” Full story at: https://news.yahoo.com/shock-swiss-rate-hike-sets-015937838.html THANKS! Enjoy! Terry in Ohio Athens & Greece: Many visuals, details from two visits in a city with great history, culture and architecture. Now at 44,628 views. http://boards.cruisecritic.com/showthread.php?t=1101008 From the Wall Street Journal, below are the charts from late Friday for Royal Caribbean and the other two major cruise lines. New lows this past week. Seeing Carnival down below $10 a share has to be rather shocking. With stock prices so low now, it is harder for the cruise lines to raise added cash by floating out new shares of diluted stock.: (Open your screen/viewer wider to see this visual larger/better!) For the past month, here is a look at how RCL has slid downhill in a significant manner.:

Appreciate ALL of these very good comments and follow-ups regarding the complicated aspects of corporate finances. Yes, way above my college business degree from back in the early 1970's. These issues are interesting and challenging. From the Wall Street Journal's sister publication of Barron's yesterday, they had this headline: “Carnival and Other Cruise Stocks Tumble. There Is Too Much Working Against Them.” with these highlights: “Cruise stocks were tumbling to their lowest point since 2020 on Thursday as fears intensified over rising inflation and a potential recession.Carnival was down 9.5% to $8.91, and was on track for its lowest close since April 2020. Rival Royal Caribbean was down 8.5% to $36.31, and Norwegian was trading at $10.67, down 9%. Both Royal Caribbean and Norwegian were poised to close at their lowest points since May 2020, according to Dow Jones Market Data.” From another financial website yesterday, they had this headline: “Why Cruise Stocks Sank Again on Thursday” with these highlights: “Yesterday, the Federal Reserve announced a 0.75% rise in its interest rate target, and the stock market turned green. The stock market is glowing bright red, and so are the cruise stocks, with Carnival shares falling 10% as of 11 a.m. ET, Norwegian Cruise stock down 9.1%, and Royal Caribbean shares shedding 8.8%. So what exactly is going on here, and what does it mean to cruise stock investors? Basically, the story goes like this: Up until a few days ago, investors were expecting the Fed to raise interest rates 0.5% in an attempt to tamp down rising inflation. But then the U.S. got hit by its highest inflation rise in 41 years, spooking the Fed into raising interest rates even more. Consider that if the Fed does go through with a 0.75% rate hike in July, and then perhaps lets up on the brake just a tad at its subsequent September meeting and raises rates 0.5% then, this would still leave Carnival, Royal Caribbean, and Norwegian Cruise facing the prospect of paying two full percentage points more on their debt ... than they were expecting to pay as recently as last month.For Carnival, that works out to about $725 million more in interest payments on its $36.2 billion debt.” Not sure these media estimates for added interest payments as 100% accurate as there are many, many different borrowing rules and cost set-ups. Overall, for consumers and financial operations, however, these inflation factors and interest rate hikes do not make these issues easier and positive for charting the future. Full stories at: https://www.barrons.com/articles/carnival-cruise-stocks-recession-inflation-covid-51655394000 https://www.nasdaq.com/articles/why-cruise-stocks-sank-again-on-thursday THANKS! Enjoy! Terry in Ohio AFRICA?!!?: Fun, interesting visuals, plus travel details from this early 2016 live/blog. At 52,854 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

Appreciate all of these various comments, sharing and follow-ups. Just when we thought the financial markets could not get more challenged, it keeps surprising us more. What's next?? Overall, the Dow average dropped down more than 700 points as stocks slid on recession concerns. The Nasdaq fell 4.1%. That's real money!! Like billions of dollars in losses. From the Wall Street Journal late this afternoon, things got even worse for the three major cruise line stocks. Royal Caribbean dropped 11.4% to $35.17. Carnival was down 11.18%. Norwegian dropped 11.64%. In basketball scoring, hitting "double-figures" is good. But for stocks, a double-digit loss downward is really, really bad. At one point today, RCL was down to $34.835, a new low for the past 52-week period. 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 69,977 views: www.boards.cruisecritic.com/showthread.php?t=2157696 From the Wall Street Journal, below is the chart late today for Royal Caribbean. Their stock was dropping down, DOWN as a part of an overall negative slides for stocks and the economy.: (Open your screen/viewer wider to see this visual larger/better!)

On the Crystal CC Board (what is left of that posting site), they had a link to the trade story with this headline: “Silversea Set to Acquire Crystal Endeavor” with these highlights: “Silversea Cruises is set to operate the Crystal Endeavor, as the luxury cruise line has acquired the 200-guest vessel. In addition, Silversea has filed to trademark the name Silver Endeavor (and Silver Endeavour) on June 8 with the United States Patent and Trademark Office. The ship is currently in Gibraltar and could sail for Silversea as soon as later this year following a rebrand, lining up with the 2022-2023 Antarctica season. After being delivered to Crystal Cruises from MV Werften in 2021, the luxury expedition ship completed an inaugural Iceland season and a handful of Antarctica cruises before Crystal wound down operations in early 2022.” No price was given or listed. But the story reported: "Sources told Cruise Industry News that multiple cruise lines put in bids for the ship, including brands that were not in the expedition market." Many of the Crystal faithful posting were very happy that Silversea would keep some form of the Endeavor name for the future. Full story at: https://www.cruiseindustrynews.com/cruise-news/27683-silversea-set-to-acquire-crystal-endeavor.html 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 244,444 views. www.boards.cruisecritic.com/showthread.php?t=1227923

YES!! Great, interesting news from Mr Luxury. Excellent questions from WesW. Look forward to learning much more. What was the price paid?? THANKS! Enjoy! Terry in Ohio

What is the "honest truth" on cruise stocks and their real value? It reminds me of a famous quote from the move "A Few Good Men." Here is that key courtroom exchange: LTJG Kaffee/Tom Cruise: "I want the truth!" Col Jessup/Jack Nicholson: "You can't handle the truth!” Today was a super challenging day for stock values. Here are the top Wall Street Journal headlines now: "S&P 500 Closes in a Bear Market as Dow, Nasdaq Slide. Index falls 3.9%, Dow skids 876 points on inflation, rate fears." and "Fed Likely to Consider 0.75-Percentage-Point Rate Increase." More at: www.wsj.com Want the "Good News" for Silversea's parent of Royal Caribbean? They did the "best" today compared to their other two main competitors. Now for the "Rest of the Story"!! From the Wall Street Journal late this afternoon, below you can see the RCL chart, dropping down $4.45 per share or a 9.73% negative slide. How does that compare? Much better than Carnival dropping down 10.32% to $9.91 and Norwegian negative 12.23% to $11.55. Big drops? For all three of these stocks, today was new lows for this most recent 52-week period. 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 96,203 views. http://boards.cruisecritic.com/showthread.php?t=1278226

Per the Wall Street Journal this morning, the negative stock slide continues, sadly!! As of 10 am today, Royal Caribbean was down, down to $42.47 or a drop of-7.16% in the first half hour of trading. The other two major cruise lines dropped this morning 8.5% to 9.7%. Not exactly a positive vote of confidence for the major cruise lines?? THANKS! Enjoy! Terry in Ohio

Appreciate these good, interesting follow-ups from Mr. Banjo and our SW Ohio neighbor. Lots of questions, concerns and interests as to what happens next, how and why??? The below article raises good questions as cruise companies try to balance rising costs for staffing and fuel . . . VERSUS . . . keeping prices low enough in order to fill up their ships. How do they make it "ALL" work?. Successfully? Restoring profits to pay off billions of dollars in loans as interest rates rise? Are these the right and best questions? From the Wall Street Journal yesterday morning, they had this headline: “Cruise-Line Pricing Is Lost at Sea" with this sub-headline: "Cruise companies are lowering prices even as expenses swell.” Here are the story highlights: “Even if you vowed never to cruise again after Covid-19, there might just be a price to tempt you. Mass-market cruise lines need you to bite. Amid sky-high hotel prices, the best deals in lodging this summer are at sea level—literally. Cruise-review site Cruise Critic noted pricing for summer cruises is currently as low as it has been since the sector’s 2021 restart. The current average cost of a five-night Caribbean cruise begins at $100 a day, according to Cruise Critic, including lodging, meals and entertainment. That is about 10% less than where the average daily rate for a U.S. midscale hotel was tracking last month, according to hotel data provider STR. As Covid restrictions relax, cruise lines have been removing occupancy limits on ships and appear to be discounting to fill summer voyages. After an abysmal two years of losses and mounting debt, Royal Caribbean, Carnival and Norwegian are forecasting a return to profitability on the basis of adjusted earnings before interest, taxes, depreciation and amortization at some point this year. Those targets could certainly use the boost of more passengers in the face of rising costs.” Here is more from this story: "Labor and fuel costs, which most cruise lines don’t hedge against, are soaring and comprise significant portions of cruise operators’ overall expenses. UBS analyst Robin Farley estimates Carnival’s labor and fuel typically account for around 29% and 20%, respectively, of ship operating costs, excluding sales and general and administrative expenses. Wall Street is forecasting a significant rise in occupancy rates across all major cruise companies this year. Royal Caribbean is expected to boost occupancy from less than 60% as of March 31 to nearly 100% by the end of December." Full story at: https://www.wsj.com/articles/cruise-line-pricing-is-lost-at-sea-11655038802?page=1 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 237,655 views. www.boards.cruisecritic.com/showthread.php?t=1974139

Appreciate these above helpful updates and follow-ups from J.P. and tosteve1. Sounds challenging in Europe!! No plans for us to head there this summer or fall. From the Wall Street Journal yesterday morning, they had this headline: “Cruise-Line Pricing Is Lost at Sea" with this sub-headline: "Cruise companies are lowering prices even as expenses swell.” Here are the story highlights: “Even if you vowed never to cruise again after Covid-19, there might just be a price to tempt you. Mass-market cruise lines need you to bite. Amid sky-high hotel prices, the best deals in lodging this summer are at sea level—literally. Cruise-review site Cruise Critic noted pricing for summer cruises is currently as low as it has been since the sector’s 2021 restart. The current average cost of a five-night Caribbean cruise begins at $100 a day, according to Cruise Critic, including lodging, meals and entertainment. That is about 10% less than where the average daily rate for a U.S. midscale hotel was tracking last month, according to hotel data provider STR. As Covid restrictions relax, cruise lines have been removing occupancy limits on ships and appear to be discounting to fill summer voyages. After an abysmal two years of losses and mounting debt, Royal Caribbean, Carnival and Norwegian are forecasting a return to profitability on the basis of adjusted earnings before interest, taxes, depreciation and amortization at some point this year. Those targets could certainly use the boost of more passengers in the face of rising costs.” Here is more from this story: "Labor and fuel costs, which most cruise lines don’t hedge against, are soaring and comprise significant portions of cruise operators’ overall expenses. UBS analyst Robin Farley estimates Carnival’s labor and fuel typically account for around 29% and 20%, respectively, of ship operating costs, excluding sales and general and administrative expenses. Wall Street is forecasting a significant rise in occupancy rates across all major cruise companies this year. Royal Caribbean is expected to boost occupancy from less than 60% as of March 31 to nearly 100% by the end of December." Full story at: https://www.wsj.com/articles/cruise-line-pricing-is-lost-at-sea-11655038802?page=1 THANKS! Enjoy! Terry in Ohio Athens & Greece: Many visuals, details from two visits in a city with great history, culture and architecture. Now at 44,628 views. http://boards.cruisecritic.com/showthread.php?t=1101008

Great timing!! Was just getting ready to post details from that news story. Appreciate this above link posting and follow-up. From a Wall Street financial website this morning, they had this headline: “Cruise Lines Call for CDC to Change Covid Testing Policy" with this sub-headline: "The trade association representing Royal Caribbean, Carnival, Norwegian, and most of the industry has called on the Centers for Disease Control to make a big change.” Here are some of their story highlights: “With the United States government dropping mandatory covid tests for international travelers, the cruise industry remains the only travel business that still requires testing. The decision by the Centers for Disease Control, which takes effect June 12 allows people to fly to the U.S. without taking any sort of covid test, which should lead to an increase in travel. That's good news for cruise lines as 'in 2019, more than 1 million guests from Canada sailed from a U.S. homeport, 570,000 guests from Brazil sailed from a U.S. homeport, and 280,000 from Mexico, the Caribbean, and Central America,' Cruisehive reported. More passengers from around the world will be able to get to the U.S., but actually getting on a cruise ship will still require taking a covid test no more than two days before the day they sail. That rule remains in place and the Cruise Line Industry Association (CLIA) -- a trade group which represents the interests of Royal Caribbean International, Carnival, Norwegian, and most major cruise lines around the world -- has called for the CDC to review the rules under which cruise ships are now voluntarily operating under in partnership with the federal agency.” Here is more from their story: "Hotels, theme parks, and airlines want international travelers and they have much more leverage over the CDC than cruise lines given that they are U.S.-based businesses while cruise ships are not. That's why the cruise lines remained fully closed from U.S. ports while people packed Disney World, concerts, and hotel conference centers. Cruise lines, however, do have a large economic impact on the U.S. economy, however, and the CLIA wants the cruise industry -- which has not suggested it plans to drop vaccine requirements -- to be treated like other travel businesses." Full story at: https://www.thestreet.com/investing/cruise-lines-call-for-cdc-to-change-covid-testing-policy THANKS! Enjoy! Terry in Ohio Dubrovnik! Nice visual samples, tips, details, etc., for this super scenic and historic location. Over 48,794 views. http://boards.cruisecritic.com/showthread.php?t=1439227

From the Wall Street Journal Friday, they had this headline: “What the Covid Testing Changes Mean for Air Travelers to the U.S." with this sub-headline: "With travelers now allowed to enter the U.S. without taking a test, here’s what to expect on travel rules and airfares.” Here are some of their story highlights: “Beginning Sunday, air travelers no longer need to take Covid-19 tests before their flights to the U.S. The rule change is the latest in a string of shifting policies throughout the pandemic.” Among the questions in bold, below was their WSJ responses/background: "Do I have to be vaccinated to be exempt? No, the rule change applies to all travelers. Could the rules change again? Yes. The Centers for Disease Control and Prevention may reinstate the testing requirement for international travelers to the U.S. if it is needed in the future, such as if a more virulent Covid-19 strain emerges. The agency will reassess the decision in 90 days and on a continuing basis after that. Do I still have to take a test to enter certain countries? Yes, the rule only applies to testing to enter the U.S., not to enter other countries. Many countries have eliminated entry requirements. But Spain, for example, requires proof of vaccination, or proof of a negative Covid-19 test or documentation of recovery for travelers arriving from the U.S. What does this mean for international airfares? The removal of the Covid test requirement will be a catalyst for even more people to travel abroad from the U.S. and will make the U.S. a more desirable destination for international travelers, said Henry Harteveldt, a travel industry analyst. As demand increases, airfares will increase, he predicted." Full story at: https://www.wsj.com/articles/covid-test-international-flights-travel-11654884865?mod=life_work_lead_story THANKS! Enjoy! Terry in Ohio PS: Did J.P. and Chris make it back home safely to Albany, NY, over the weekend? Kotor/Montenegro: Exciting visual samples, tips, details, etc., for this scenic, historic location. Over 49,311 views. http://boards.cruisecritic.com/showthread.php?t=1439193

Great to hear, J.P., that you and Chris are heading back. Stay safe and update us on your latest adventures. Lots of flying challenges these days. Hope all works well. THANKS! Enjoy! Terry in Ohio

Yes, Royal Caribbean stock sank big-time yesterday/Friday. Posted many details on the "Finance" thread. It was a new RCL low for the most recent 52-week period. Still not as low as in mid-March 2020. Or, during earlier slumps around 2008. THANKS! Enjoy! Terry in Ohio

From the Wall Street Journal late this afternoon, below are the charts for the value trends on the three major cruise lines. It was a bad week for these three cruise companies, plus the overall market. Could it be worse? Yes! In mid March 2020, Royal Caribbean dropped down to $23.81. Now is not that bad by comparison?? However, today was a new low for the RCL stock price during this most-recent 52-week period. Here is the headline for the overall market from the Wall Street Journal this afternoon: "Persistent Inflation Drags on U.S. Stocks" with this sub-headline: "Dow industrials drop over 800 points after data showed May’s consumer-price index rose more than economists expected." Here were their story highlights: "A fresh inflation shock hammered stock and bond prices anew, heightening investors’ fears that the Federal Reserve could be forced into more drastic action to tame surging consumer-price increases. Declines hit across the board, with rising interest-rate expectations increasing worries about the possibility of the economy slipping into a recession. The Dow Jones Industrial Average fell around 2.7%, or about 880 points, in 4 p.m. trading. Technology shares slid along with banks and consumer shares, sending the S&P 500 down 2.9% and the Nasdaq Composite down 3.5%." If I was the CEO of a cruise line, today's news is not encouraging. BUT, many consumers have cash and a strong desire to get back out to experience fun, exciting adventures. The Feds dropping the return testing requirement does help!!! Full story at: https://www.wsj.com/articles/global-stocks-markets-dow-update-06-10-2022-11654846772?mod=breakingnews 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 244,444 views. www.boards.cruisecritic.com/showthread.php?t=1227923 From the Wall Street Journal, below are their charts for Royal Caribbean and the other two major cruise lines during this past week. A bad week? That is an understatement!! In just three days, RCL went down from $57 a share to $45.73. That a drop of nearly 20%. Talk about a "a great disappearing act"? At the bottom, this fourth chart reflects RCL since the start of January 2022.: (Open your screen/viewer wider to see this visual larger/better!)

Appreciate this great above link and follow-up from Lois. Very helpful. Much confusion with all of the different rules out there, etc. From Bloomberg and MSN News this morning, they had this headline: “Strikes and Labor Shortages Leave European Airports in Chaos” with these highlights: “The long-awaited post-lockdown travel boom is rapidly turning into a bust for holidaymakers as Europe’s aviation industry struggles to overcome crippling staff shortages and labor strife, forcing airlines to cancel hundreds of flights ahead of the peak summer period. The chaotic scenes playing out at airports from Ireland to Belgium to Germany represent a major setback for an industry hit particularly hard in the last two years of the pandemic. Airlines collectively lost billions in revenue that forced drastic job cuts and government-orchestrated bailouts for some carriers. Adding to the upheaval are strikes sweeping the travel sector, with corporate leaders wary to give in to higher wage demands despite surging inflation.” Full story at: https://www.msn.com/en-us/travel/news/the-travel-boom-has-caught-airlines-still-in-bust-mode-off-guard/ar-AAYgrDR THANKS! Enjoy! Terry in Ohio AFRICA?!!?: Fun, interesting visuals, plus travel details from this early 2016 live/blog. At 52,854 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

Agree above that there is lots and lots of cash out there in the hands of potential travelers who are hanging back. And, waiting for some good news. Maybe this is this story with the positive news that cruise lines have been seeking. From the Wall Street Journal this morning, they had this headline: “U.S. to End Covid-19 Testing Requirement for Air Travelers Coming to Country" with this sub-headline: "Health officials have determined testing is no longer necessary based on available science and data and will reassess the decision in 90 days.” Here are the story highlights: “The Biden administration will on Sunday end a requirement that air travelers to the U.S. undergo Covid-19 tests before departure, according to a senior administration official. The requirement, which was introduced last year for international travel, will cease because the Centers for Disease Control and Prevention has determined it is no longer necessary based on available science and data, the person said. The agency will reassess the decision in 90 days and on a continuing basis after that. The testing requirement is set to end June 12 at 12:01 a.m. CDC Director Rochelle Walensky is expected on Friday afternoon to sign an order lifting the testing requirement, an official said.” Finally!!! This should help the cruise lines as this "huge uncertainity/risk" was a serious negative worry for many like us who desire international travel adventures and experiences. BUT, the morning the stock market is sharply down and cruise lines are part of that continued negative slide. More later today. Full story at: https://www.wsj.com/articles/biden-to-halt-outbound-covid-19-tests-for-air-travelers-to-u-s-11654869122?mod=hp_lead_pos1 THANKS! Enjoy! Terry in Ohio Barcelona/Med: June 2011, with stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Great visuals with key highlights, tips, etc. Live/blog now at 254,914 views. www.boards.cruisecritic.com/showthread.php?t=1426474

YES!! Great news. Here is more from the Wall Street Journal this morning. They had this headline: “U.S. to End Covid-19 Testing Requirement for Air Travelers Coming to Country" with this sub-headline: "Health officials have determined testing is no longer necessary based on available science and data and will reassess the decision in 90 days.” Here are their story highlights: “The Biden administration will on Sunday end a requirement that air travelers to the U.S. undergo Covid-19 tests before departure, according to a senior administration official. The requirement, which was introduced last year for international travel, will cease because the Centers for Disease Control and Prevention has determined it is no longer necessary based on available science and data, the person said. The agency will reassess the decision in 90 days and on a continuing basis after that. The testing requirement is set to end June 12 at 12:01 a.m. CDC Director Rochelle Walensky is expected on Friday afternoon to sign an order lifting the testing requirement, an official said.” This should help the cruise lines as this "huge uncertainity/risk" was a serious negative worry for many like us who desire international travel adventures and experiences. Full story at: https://www.wsj.com/articles/biden-to-halt-outbound-covid-19-tests-for-air-travelers-to-u-s-11654869122?mod=hp_lead_pos1 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 69,977 views: www.boards.cruisecritic.com/showthread.php?t=2157696

Appreciate this excellent link and sharing by Spins. Lots happening!!. From the Wall Street Journal this morning, they had this headline: “U.S. to End Covid-19 Testing Requirement for Air Travelers Coming to Country" with this sub-headline: "Health officials have determined testing is no longer necessary based on available science and data and will reassess the decision in 90 days.” Here are the story highlights: “The Biden administration will on Sunday end a requirement that air travelers to the U.S. undergo Covid-19 tests before departure, according to a senior administration official. The requirement, which was introduced last year for international travel, will cease because the Centers for Disease Control and Prevention has determined it is no longer necessary based on available science and data, the person said. The agency will reassess the decision in 90 days and on a continuing basis after that. The testing requirement is set to end June 12 at 12:01 a.m. CDC Director Rochelle Walensky is expected on Friday afternoon to sign an order lifting the testing requirement, an official said.” Finally!!! This should help the cruise lines as this "huge uncertainity/risk" was a serious negative worry for many like us who desire international travel adventures and experiences. Full story at: https://www.wsj.com/articles/biden-to-halt-outbound-covid-19-tests-for-air-travelers-to-u-s-11654869122?mod=hp_lead_pos1 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 69,977 views: www.boards.cruisecritic.com/showthread.php?t=2157696

From the Wall Street Journal yesterday, they had this headline: “Airline Seat Fees That Buy …What, Exactly?" with this sub-headline: "Travelers are finding fees that sometimes top $100 for seats that offer no extra legroom or early boarding, even on nonbudget carriers.” This shares details on an interesting "revenue enhancement" that airlines are doing to pad their bottom line. Nice financial trick? Here are some of the story highlights: “Try to reserve seat 15D on a Delta Air Lines nonstop flight from Atlanta to Los Angeles in mid-July and a price tag pops up on the seat map: $105. Each way. That is on top of the ticket price, a tidy $998 round trip. The $105 is Delta’s fee for a 'preferred' seat on the flight. It comes with no extra legroom, no early boarding and no dedicated overhead bin space. Long a budget-airline staple, seat-selection fees have become widespread and are driving up the cost of flying at major U.S. airlines. Free seats are often rare or truly awful—think last row near the lavatories—especially for travelers booking last-minute. Airlines don’t divulge their seat-fee revenue, and the U.S. Transportation Department doesn’t require disclosure as it does with baggage or ticket-change fees. But here’s a hint: Southwest Airlines, which doesn’t assign seats but offers two paid options to board early and get a better pick of seats, collected $711 million from such fees and incidental in-flight purchases in 2019, according to securities filings. The fees, which vary by carrier, route, flight date and time, and even time of booking, are now airlines’ second-biggest source of a la carte revenue after baggage fees.” Good news? Cruise lines cannot exactly pull off this "trick" to pick our pockets in the same manner as being done now by the airlines. . Full story at: https://www.wsj.com/articles/the-airline-seat-fees-that-buywhat-exactly-11654652660 THANKS! Enjoy! Terry in Ohio Early 2020 (right before Covid shut-down), many visuals and details from New Zealand/South Pacific in going from Auckland to French Polynesia. This includes Bora Bora, Fiji, NZ experiences, etc: Live/blog; https://boards.cruisecritic.com/topic/2735732-live-terryohio-“new”-regatta-south-pacificnz-pix’s/

Agree with my SW Ohio neighbor that comparing airlines and cruise lines is somewhat of an apples versus oranges comparison. BUT, it is an interesting question and somewhat legitimate contrast. Maybe? Maybe not? Appreciate these insights and follow-up. When it was shared about: "Just from my own perspective I'm not flying to Sydney or Lima and spending $40-50k on a cruise & airfare to be told I can't board because I have asymptomatic Covid (which I am highly vaccinated for) or I have to wear a mask on excursion buses. This is my personal choice and I don't think I'm alone.", that somewhat fits much of my wife's concerns and reluctance to book anything international right now. From the Wall Street Journal below is their chart as to how Royal Caribbean finished after tody's trading. I did not want to just quote the number (down 8.9%). Seeing the actual week's chart makes clear the point that for the past two days, things have not just been bad. But, sadly, really BAD!! Today's RCL value is very close to their low, low point for the past 52 weeks. Good news? Both Carnival and Norwegian were down more, between nine and ten percent!! Sinking fast? Or, bottoming out? Where do values go for Friday and next week? 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/

Not trying to be a "Debbie Downer", but this additional story and its financial background might help explain why the cruise stocks dropped so much yesterday. From MSN News yesterday, they had this headline: “Cruise stocks may face trouble as demand 'seems to be eroding': BofA” with these highlights: “The demand for cruise vacations may be weakening as high levels of inflation, the ongoing COVID-19 pandemic, and a slowing economy weigh on consumer purchase decisions. Royal Caribbean, Norwegian Cruise Line, and Carnival all saw capacity-weighted sequential ticket pricing declines from May to June, according to new data from BofA Global Research. Price declines ranged from 1% to 3% compared to May, with Carnival seeing the largest drop (2.6%). The pricing softness looks to be extending into 2023 and 2024, BofA noted, as ticket pricing for all three cruise lines fell 2.6% on average for 2024 in the latest survey.” Here was a key concluding summary from their analysis: "The three main publicly traded cruise stocks have fallen an average of 30% year to date as traders view the industry's recovery from the pandemic skeptically." Full story at: https://www.msn.com/en-us/travel/news/cruise-stocks-may-face-trouble-as-demand-seems-to-be-eroding-bofa/ar-AAYexMm?ocid=BingNewsSearch 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 20,845 views. Connect at: www.boards.cruisecritic.com/topic/2607054-livenautica-greece-holy-lands-egypt-dubai-terrypix’s/

Good sharing with these two articles. In the second one, they had this headline: "Morgan Stanley foresees a cash crunch for the cruise line operator -- but is it right?" Those kind of negative headline do raise serious questions and would make the markets drive down stock values. What happens next? Here was a key highlight in that story: "a Morgan Stanley analyst cited weak sales, growing economic risks, and the rising cost of interest on debt as the three biggest risks to Carnival." THANKS! Enjoy! Terry in Ohio