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Steve Q

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About Steve Q

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    Frisco, Texas

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  1. There may very well be plans in the works to construct a new terminal to handle mega size cruise ships. What is the proposed completion date? I suspect it would take years to build. By the time it is completed, the virus will be a distant memory.
  2. That may be an option, but I do not see that happening. I cannot imagine that Bermuda could safely handle the onslaught of having countless thousands of cruisers entering and leaving their country. I doubt they have sufficient infrastructure to handle such an enormous increase in tourists ( airport, hotels, harbor infrastructure, etc). In addition, and perhaps most importantly, the future of cruising is not in Bermuda. The cruise lines, above everything else, need to maintain an amicable relationship with U. S. Government authorities. Skirting U.S. regulations would poison that relationship.
  3. Now Israel is once again shutting down for a minimum of 3 weeks. You have to wonder if other countries will be forced to follow suit in the autumn. https://www.timesofisrael.com/israel-to-enter-3-week-lockdown-from-friday-schools-malls-hotels-to-be-closed/
  4. let’s keep our fingers crossed that all goes well. Below is a video link from yesterday with Dr Scott Gottlieb. He offers some thoughts about the coming autumn and winter seasons. It is a 4 minute clip. https://www.cnbc.com/video/2020/09/11/scott-gottlieb-im-afraid-were-heading-into-fall-with-higher-covid-19-infection-numbers.html
  5. Hopefully, this is not a major setback. They were one of the first out of the gate in development. https://www.cnn.com/2020/09/08/health/coronavirus-vaccine-astrazeneca-pause/index.html
  6. The article below states that it is very possible that the AstraZeneca vaccine will likely be available in the U.K. by early 2021. It states that the company has already begun the manufacture of the doses. This sounds quite promising. https://www.marketwatch.com/story/astrazeneca-vaccine-most-likely-to-roll-out-in-the-uk-early-next-year-2020-09-07?mod=mw_latestnews
  7. An article in the WSJ last week highlighted some of the issues MSC has experienced with their recent sailing. The article has a paywall so some will not be able to access it. Below, however, is just one quote: “ROME—When one of the world’s biggest cruise lines, MSC Cruises SA, resumed sailing in the Mediterranean earlier this month, it tested all crew members and guests for the new coronavirus before letting them aboard the 5,000-person ship. To minimize infection risk, the company has set up testing facilities in Italian ports, hired more medical staff and purchased its own machinery to process swab tests on board, should there be a need to test someone while at sea. Those efforts hurt the bottom line: Anti-Covid measures are costing MSC Cruises around €500,000 or $590,000 a week of travel, the company estimates.” Clearly all cruise lines will be experiencing significant increases in their fixed expenses. In the end it will have to be the cruiser that covers those costs. https://www.wsj.com/articles/cruise-ships-cautiously-resume-sailing-in-europe-after-deadly-outbreaks-11598616000?mod=searchresults&page=1&pos=1
  8. Really disappointing news. I suspect that other cruise lines will be announcing similar actions. https://www.usatoday.com/story/travel/cruises/2020/08/25/cunard-line-extends-sailing-suspension-into-spring-2021/5630643002/
  9. Viking also attached an excellent video with their owner explaining their decision. It is very well done.
  10. FDR is quoted in the last paragraph. https://thepointsguy.com/news/cruise-lines-cancel-into-2021/
  11. Our son and his family just relocated from Germany to South Korea. They had a nonstop flight on KLM from Amsterdam to Seoul. They were required to wear masks during the entire ten hour flight. I doubt they liked it, but those were the rules. I would not voluntarily choose a long distance flight under those conditions.
  12. Aida is now delaying their restart. Italy is not granting permission. https://www.usatoday.com/story/travel/cruises/2020/08/03/aida-cruises-not-restart-planned-aug-5-italy-ok-delayed/5570055002/
  13. Evidently, the controversy is not just in the United States. See the link below: https://news.yahoo.com/berlin-protest-over-virus-restrictions-draws-thousands-140750641.html
  14. The question some might ask is how does this result impact other cruise lines? Some might argue that this will not impact Regent since they are very different lines. In many ways that is true, but from a financial perspective, there is little difference. Every cruise line will have to draw their own conclusions. The amount of capital, both human and financial, required to begin cruising again will be substantial. To incur this same result would be awful. Most lines are simply not in a financial position to start up again in the near future only to end up with the same result. The financial losses would be unacceptable. It seems more and more that a possible vaccine is the only option.
  15. It is not totally uncommon to issue new debt when existing debt matures. The issue here, however, is that the interest rate on the new debt greatly exceeds the interest rate on the old debt. That is a problem. In the current interest rate environment, many corporations are redeeming their existing debt at their “Call Date” and replacing it with debt at a much lower interest rate. It serves to reduce the current liabilities and improves their Balance sheets. Exactly the opposite is occurring with NCL.
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