Just happened to catch it on BLOOMBERG....details sketchy but they want to float (excuse the pun) ANOTHER 600m in "unsecured" junk bonds. its the 5th time they're doing it, and not sure who would have the "appetite" for such an offering. Some of this is above my paygrade. but i just don't see how they're going to survive this. If they do, an inside cabin would require a second mortgage...

28 Answers

Carnival has been sending me really good deals in the last 2 months or so. They range from 40 percent off cruises to free liquor. Once the pandemic hit, I was of the mindset I may never cruise with Carnival again. I didn't do the FCC and deposits because I had a bad feeling about the industry as a whole. I think some have done a great job explaining what life will be like on a cruise ship for the near future and for me it doesn't sound too exciting. Some might say it will never be the same! That's ok I have plenty of wonderful memories.

I have noticed their "deals" sometimes aren't deals...but then, I'm old school and they wouldn't let me out unless i could cypher...but in any have an excellent attitude, and seems to me alot of us are going to have to learn to adopt it....

Well so far the market isn't punishing them for the announcement. In fact, the stock is up a few pennies. That could change if they actually pull the trigger.

I agree you have a great attitude. I would do well to also cultivate your mindset.

It's just we finally found a vacation medium that our entire family enjoyed. We live in Wisconsin, and trips to the Northwoods lake country wasn't enjoyed by my daughter (mosquitos, snakes, etc.....) My wife and I can't walk the theme parks (bad knees, hips & backs). After a couple days in a car, road trips were boring for the kids and played havoc on my spine.

For us, cruising hit that sweet spot by offering something exciting for everyone. I regret I didn't get the family into it sooner. Oh well, as you stated no matter what happens at least we have some awesome memories.

WELLLLLL.per its up to 3.5BILLION,,,,,not bothering to find the link.....this is absurd........

Yeah, well good luck to them. I'll be curious to see the terms of anyone who would borrow them that amount. I don't see how anyone would think CCL can service that much total debt under the uncertainty of the current circumstances.. If they do you'll be right about needing a second mortgage for an inside cabin booking.

What's puzzling to me is they have not postponed construction of their second XL Class Ship (Celebration~$950m) and they just broke ground on their new Miami Terminal (~$120m). Doesn't seem like belt tightening to me.

They must know something that they're sharing with potential investors (but not the paying customers of course). I wonder if they already have been told 2021 is not going to happen? Oh well, it's all way above my level of understanding.

Of course as I said before, there's always the gov't. I could see them guaranteeing a loan for CCL. All it would take would be for them to agree to re-incorporate as a US company, thus subject to all that juicy taxation. Those of you who have read my previous posts know I'm very cynical about the gov't. It wouldn't surprise me if they're holding the lines hostage, just waiting for them to come begging to loosen the restrictions.

That doesn't surprise me, cruise lines are taking a bath in this pandemic! Bookings are up, yes, but with all the FCC and refunds they have to issue, they must be gaining as much as they're losing.

CQ, I guess you meant they're "losing as much as they're gaining" all the bookings I suppose...but they're not, its actually WAY worse than anything like a breakeven..., since BEFORE all this, what they sold was theirs..the only thing they really had to "finance" was new, they've borrowed BILLIONS TO stay afloat, with NO income attributable to that COVID shutdown, (with no real end in sight)...just expense, paid for with borrowed $$,,,and all that debt has to be serviced, or refinanced as it comes due (and one issue coming due soon!) don't pay the bondholders, your business ceases to exist, or has new owners, not necessarily in that order.

All the points posted here are well taken and logical. For us, due to the death of the economy and of course the "governments" flip flops on openings and closings, many small and medium businesses will not be re-opening. I have worked only 60 days in the last 20 months. Needless to say, any reserved funds that were set aside for cruising have gone to other needs. I can also see that some of the cruise lines will not be there in 18 months. The family still wants to cruise, but at this time we may not even get a chance in 2022, so maybe with some juggling and downsizing we can get something going in 2023. There may not be the old style of cruising, we will wait and see.. Good luck to all concerned and all the folks on this site. I hope that 2022 works best for all of us.

Hopefully, you will be working again soon and cruising will return to a way we can all be happy about. For us being retired has been profitable. No trips to pay for, no eating out (not that we did a lot anyway), lower gas bills for the automobiles (no visiting friends or family) and fewer new clothes purchased (although some larger sizes may soon be needed). Our household expenses have stayed about the same. So now we have money to cruise a bit more. Not to say we are a lot better off financially, but we could afford another cruise.Big Smile


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