NCL suspends cruises for the rest of 2020

[Merion_Mom]

https://www.ncl.com/suspended-sailings

[bobmacliberty]

Just a matter of time before the rest of the dominoes fall.

[twangster]

NCL stated they opted for cold layups for the entire fleet a couple of months ago.

 

Depending how cold they went it could take more time for NCL to bring their fleet back into service.    In theory we should see NCL continue to extend their cancellations further out compared to the rest.  

[Coralc]

Not surprising when looking at the conditions for sailing. Thanks for posting the announcement. 

[Merion_Mom]

And RC has followed in just a matter of hours.

[BirdTravels]

8 hours ago, twangster said:

NCL stated they opted for cold layups for the entire fleet a couple of months ago.

More of a technically incorrect term used in PR for the media. None of NCL's ships went into cold layup. 

[twangster]

1 hour ago, BirdTravels said:

More of a technically incorrect term used in PR for the media. None of NCL's ships went into cold layup. 

 

My bad.  Took the investor statements at face value.  My apologies.

 

May 14, 2020

 

http://www.nclhltdinvestor.com/news-releases/news-release-details/norwegian-cruise-line-holdings-reports-first-quarter-2020

 

COVID-19 Action Plan

The Company has taken swift, proactive measures to mitigate the financial and operational impacts of COVID-19. This action plan includes cost reduction and cash conservation levers the Company has deployed to preserve and enhance liquidity while also securing additional capital.

 

Reduced Operating Expenses

The Company anticipates estimated ongoing ship operating expenses and administrative operating costs combined to range from approximately $70 million to $110 million1 per month during the suspension of operations as a result of the following cost reduction measures:

 

Meaningfully reducing cruise operating expense which includes reducing expenses associated with crew payroll, food, fuel, insurance and port charges. The majority of ships in the Company’s fleet are currently transitioning to cold layup.

Edited November 3, 2020 by twangster