And their stox are taking a real beating today. . Yes, thousands of US port workers and contractors who prepare and deliver food and supplies are affected. But theses are not US companies. That "flag of convenience" foreign corp status (for lack of a better description) that has enabled cruiselines to avoid certain requirements has just bitten them in the behind. It'll take a long time for them to come back. A mere declaration isn't going to get them back on track anytime soon. Your thoughts?
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Contributor Level:
Cruise Director
CRUISE LINES OMITTED FROM "STIMULUS"
6 Answers
Contributor Level:
Cruise Director
Found this in Orlando paper. Interesting article. Publicly, they say one thing. Privately, who knows.
Contributor Level:
First Mate
It's a wacky world right now and for sure going to be interesting how this all pans out.
I don’t believe the big cruise lines ever thought for a moment that they would be eligible for any “stimulus” or “bail-out” funds from the US. They do business in a global market and are structured accordingly.
As far as “coming back” goes, the day the world is open for travel people will be cruising. As we watch cruise lines put their passengers, crew, employees, and travel partners ahead of their bottom line, we can’t wait to support them again with our vacation dollars.
Contributor Level:
Cruise Director
As long as there's people wanting to cruise, there will be ships to serve them! It may take a while, but they will rebound. Cruising is by far one of the safest ways to travel, I don't see it simply going away anytime soon.
Contributor Level:
Captain
Stein Kruse and his Holland America Lines have their hands full right now with their plague ridden Zaandam. No port wants the vessel, so they are heading for San Diego with hope American taxpayers will bail them out. Wonder what their Dutch government is going to do for their vessel,$$$$, duly registered in the Netherlands?---------------------- https://www.businessinsider.com/holland-american-coronavirus-covid-19-zaandam-rotterdam-2020-3?fbclid=IwAR0lMJE9o0dscMIB9GsLkVT61J18L074TYvALxXREhzBZ1NJG-rU5BIExAM
Contributor Level:
Staff Captain
Those who live by the flag of convinience may also die by the flag of convinience .....
I do hope the cruise lines weather this and I am pretty sure that they will, even though they my cry and bemoan their losses. They have very deep pockets and I am pretty sure that the banks are quite willing to back them for some of those rock bottom priced shares ... Might see a few new owners and managers but they will survice.