maxw97 Posted March 12, 2020 #151 Share Posted March 12, 2020 1 minute ago, TNTLAMB said: The cruise companies will be just fine. This is a temporary situation. Financers will line up. Besides If it hasn't passed today it will very soon. There is a bail out. Personally If I had the $$$ I'd be buying all the CCL stock I could. I said the same thing a few days ago when it was $23. Now it's $17. Give it a few more days. 😉 2 Link to comment Share on other sites More sharing options...
brisalta Posted March 12, 2020 #152 Share Posted March 12, 2020 2 hours ago, Iamcruzin said: Clean yes, but where are they getting the money to refurbish the ships that aren't scheduled to be refurbished? Interest rates are extremely low at the moment. 1 Link to comment Share on other sites More sharing options...
Rare CineGraphic Posted March 12, 2020 #153 Share Posted March 12, 2020 Old news, already at least 2 other threads on the same subject Link to comment Share on other sites More sharing options...
Rare mom says Posted March 12, 2020 #154 Share Posted March 12, 2020 Bad luck/luck if the draw? It's not Princess's fault that an asymptomatic passenger boarded and spread the disease to other pax/crew. Link to comment Share on other sites More sharing options...
Colo Cruiser Posted March 12, 2020 #155 Share Posted March 12, 2020 24 minutes ago, cassandra44 said: Just heard Princess has cancelled ALL cruises for 60 days.. https://boards.cruisecritic.com/topic/2741223-princess-suspends-all-cruises-for-60-days/ Link to comment Share on other sites More sharing options...
cruiserjt Posted March 12, 2020 #156 Share Posted March 12, 2020 Princess is doing the right thing. Removes the doubt that we are all experiencing about whether to go or not go. Link to comment Share on other sites More sharing options...
Goldsmegame Posted March 12, 2020 #157 Share Posted March 12, 2020 Anyone know if for those of us that chose not to cancel when the first cancellation option email came out On March 6th -will we get to keep the original on board credit that was offered? ‘’also, will we get reimbursed for Princess insurance we purchased? And, if not what can we ask the insurance to cover? We are out hotel and airfare Link to comment Share on other sites More sharing options...
Justalone Posted March 12, 2020 #158 Share Posted March 12, 2020 (edited) 22 minutes ago, maxw97 said: I said the same thing a few days ago when it was $23. Now it's $17. Give it a few more days. 😉 Go buy at $5-$7 next week. Good luck. Edited March 12, 2020 by Justalone 1 Link to comment Share on other sites More sharing options...
npcl Posted March 12, 2020 #159 Share Posted March 12, 2020 18 minutes ago, TNTLAMB said: The cruise companies will be just fine. This is a temporary situation. Financers will line up. Besides If it hasn't passed today it will very soon. There is a bail out. Personally If I had the $$$ I'd be buying all the CCL stock I could. There are clear signs that the credit industry is locking up. The Fed has announced a massive liquidity injection in order to try and stop it. All three major companies have high current debt, limited cash on hand. HCLH and RCL have already started to tap their revolving lines of credit. All three have substantial assets, but they are in the very not liquid form of ships. Very likely that at least 1 of the major cruise companies will end up going through bankruptcy in some form. Most likely one similar to what some of the airlines have done, where the stock holders are wiped out, the debt holders get equity in the restructured company and the customers remain intact. Actually getting a bail out of the cruise industry through Congress will not be easy considering that all of the cruise lines are non-US companies and in general do not pay US taxes. 2 Link to comment Share on other sites More sharing options...
kiwichick62 Posted March 12, 2020 #160 Share Posted March 12, 2020 4 hours ago, kywildcatfanone said: Why are they not offering the exact same compensation for all cruises during the 60 day window? I am thinking it is because the closer it is to your cruise date the more disruptive it can be to you to cancel. Link to comment Share on other sites More sharing options...
Justalone Posted March 12, 2020 #161 Share Posted March 12, 2020 (edited) 7 minutes ago, npcl said: There are clear signs that the credit industry is locking up. The Fed has announced a massive liquidity injection in order to try and stop it. All three major companies have high current debt, limited cash on hand. HCLH and RCL have already started to tap their revolving lines of credit. All three have substantial assets, but they are in the very not liquid form of ships. Very likely that at least 1 of the major cruise companies will end up going through bankruptcy in some form. Most likely one similar to what some of the airlines have done, where the stock holders are wiped out, the debt holders get equity in the restructured company and the customers remain intact. Actually getting a bail out of the cruise industry through Congress will not be easy considering that all of the cruise lines are non-US companies and in general do not pay US taxes. CCL going under? Or smaller cruise lines like Oceania/Regent, or Viking? Edited March 12, 2020 by Justalone Link to comment Share on other sites More sharing options...
npcl Posted March 12, 2020 #162 Share Posted March 12, 2020 38 minutes ago, cscurlock said: Why would someone loan 675 million to NCL? Would you? Someone did. They extended a relatively short term line of credit that ends next year. A lot depend upon the covenants. At this I would expect that anyone lending to the cruise lines would be looking at the bankruptcy economics. After all if there is a restructuring the dept holders would be above the shareholders in getting value. Very likely if a bankruptcy were to take place, the debt holders would end up getting equity in the restructured company. As such a loan could be a good decision with appropriate terms. 1 Link to comment Share on other sites More sharing options...
npcl Posted March 12, 2020 #163 Share Posted March 12, 2020 5 minutes ago, Justalone said: CCL? Possible, but CCL is the strongest of the 3. RCL went through a lot of cash last year with stock buy backs, and a large increase in debt level. NCLH has the highest debt load of the 3. I would expect to see it in one of the others prior to CCL. 1 Link to comment Share on other sites More sharing options...
npcl Posted March 12, 2020 #164 Share Posted March 12, 2020 18 minutes ago, Goldsmegame said: Anyone know if for those of us that chose not to cancel when the first cancellation option email came out On March 6th -will we get to keep the original on board credit that was offered? ‘’also, will we get reimbursed for Princess insurance we purchased? And, if not what can we ask the insurance to cover? We are out hotel and airfare I would expect that the princess refund will be everything purchased through Princess. They have usually done that it the past when they cancel. 1 Link to comment Share on other sites More sharing options...
amajaa Posted March 12, 2020 #165 Share Posted March 12, 2020 14 minutes ago, Justalone said: Go buy at $5-$7 next week. Good luck. All trading was suspended on Carnival shares today, well it was in UK anyway Link to comment Share on other sites More sharing options...
brisalta Posted March 12, 2020 #166 Share Posted March 12, 2020 8 minutes ago, npcl said: I would expect that the princess refund will be everything purchased through Princess. They have usually done that it the past when they cancel. Why not read https://www.princess.com/news/pdfs/voluntary-60-day-pause-of-global-ship-operations.pdf and see what the FAQ in it has to say. 1 Link to comment Share on other sites More sharing options...
dd likes to cruise Posted March 12, 2020 #167 Share Posted March 12, 2020 35 minutes ago, Goldsmegame said: We are out hotel and airfare Did you check with airlines? The emails I am receiving from airlines all have new cancel programs that are giving you credit to fly in next year. Link to comment Share on other sites More sharing options...
idahospud Posted March 12, 2020 #168 Share Posted March 12, 2020 8 minutes ago, brisalta said: Why not read https://www.princess.com/news/pdfs/voluntary-60-day-pause-of-global-ship-operations.pdf and see what the FAQ in it has to say. Agreed. The FAQ is where you'll find the answers to the most commonly asked questions. If an answer isn't there, you can bet the Princess rep and your TA doesn't have the answer right now, either. 3 Link to comment Share on other sites More sharing options...
amajaa Posted March 12, 2020 #169 Share Posted March 12, 2020 16 minutes ago, amajaa said: All trading was suspended on Carnival shares today, well it was in UK anyway update on this , they started trading again Link to comment Share on other sites More sharing options...
brisalta Posted March 12, 2020 #170 Share Posted March 12, 2020 39 minutes ago, Goldsmegame said: Anyone know if for those of us that chose not to cancel when the first cancellation option email came out On March 6th -will we get to keep the original on board credit that was offered? ‘’also, will we get reimbursed for Princess insurance we purchased? And, if not what can we ask the insurance to cover? We are out hotel and airfare How are you out hotel and airfare? Did you read the FAQ at https://www.princess.com/news/pdfs/voluntary-60-day-pause-of-global-ship-operations.pdf Link to comment Share on other sites More sharing options...
cacruiser54 Posted March 12, 2020 #171 Share Posted March 12, 2020 5 hours ago, Dawniepoo said: Frankly, I am relieved. I needed someone to save me from myself. I swear I was going no matter what. Us too! And, my Hubby was very recently diagnosed with a serious health condition....not anything contagious. Thank you to Princess for making the right decision. Link to comment Share on other sites More sharing options...
TNTLAMB Posted March 12, 2020 #172 Share Posted March 12, 2020 47 minutes ago, npcl said: There are clear signs that the credit industry is locking up. The Fed has announced a massive liquidity injection in order to try and stop it. All three major companies have high current debt, limited cash on hand. HCLH and RCL have already started to tap their revolving lines of credit. All three have substantial assets, but they are in the very not liquid form of ships. Very likely that at least 1 of the major cruise companies will end up going through bankruptcy in some form. Most likely one similar to what some of the airlines have done, where the stock holders are wiped out, the debt holders get equity in the restructured company and the customers remain intact. Actually getting a bail out of the cruise industry through Congress will not be easy considering that all of the cruise lines are non-US companies and in general do not pay US taxes. other than the fact the industry represents 410,000 stateside jobs.... Link to comment Share on other sites More sharing options...
Rare Waynetor Posted March 12, 2020 #173 Share Posted March 12, 2020 So who is in a gambling mood - if you book a cruise May 11 or shortly after and the virus situation continues to grow, then the program would likely get continued and you could earn extra credits and if no extension you get your cruise. 1 Link to comment Share on other sites More sharing options...
cscurlock Posted March 12, 2020 #174 Share Posted March 12, 2020 2 hours ago, capriccio said: And where will they get supplies and contractors on such short notice? Supplies could be an issue but with layoffs coming I suspect contractors won't be a problem. Link to comment Share on other sites More sharing options...
brisalta Posted March 12, 2020 #175 Share Posted March 12, 2020 (edited) 7 minutes ago, cscurlock said: Supplies could be an issue but with layoffs coming I suspect contractors won't be a problem. Princess said they are keeping crew so I suspect they will be trained to clean hazards in suitable gear and used to clean the ships thoroughly. There is a lot of work that can be done at wet dock. I suspect there are a lot of small deferred maintenance jobs that can be done on board during this period. They will bring contractors on board to help with maintenance that does not need dry dock. For example completing the revamp of the passenger facing network systems, painting, preventive maintenance of HVAC and improving filtration systems and so on. Edited March 12, 2020 by brisalta 1 Link to comment Share on other sites More sharing options...
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