Will CCL survive the Coronavirus?

[rkacruiser]

26 minutes ago, Hlitner said:

So today was a very interesting day from an investors perspective.  The Saudi's large investment in CCL, which will likely get them at least a seat on the board, is certainly a windfall for CCL and some very good PR news within the financial community. 

 

Yes.  And a cultural integration of the Board as well, I believe.

 

Was CCL's Annual Shareholder's Meeting held today?  I looked at CCL's web site and saw nothing specifically about that.  

[TAD2005]

Today's news is that the kingdom of Saudi Arabia has invested 8.2% of CCL's total worth.  That is a huge chunk of change.   CCL owned almost 10% by the Saudis !!

[DFD1]

The Saudis are very opportunistic. This was a great opportunity for them to become an important part of a world-wide corporation.....at a bargain price.... Smart move....

[npcl]

1 hour ago, TAD2005 said:

Today's news is that the kingdom of Saudi Arabia has invested 8.2% of CCL's total worth.  That is a huge chunk of change.   CCL owned almost 10% by the Saudis !!

Of course CCL tried to sell 1.25 Billion in stock, but only were able to sell 500 million, most of which had one buyer, the Saudi's.

 

Not exactly a good sign.

[Nymich]

At best it's a 50/50 shot AT BEST for pretty much all the lines imo.  If  they can't run a business without proving to the WORLD that it is safe they are all in trouble.  Recent news from all of the lines has been a comedy of errors and yes even resulting in death.  The burden of proof to show they meet new standards that will continue to escalate will be completely on them as well as harsh penalties for even an iota of a problem and yes the media will be all over them..  Is this fair?  Not really but people who do not cruise have had it up to here with hearing about Cruise Ships!

 

That being said I took the cash because FCC means nothing to me with a business (through some of their own fault), that will not be allowed by the WORLD to operate as it always has.

 

It does sadden me as we are heading into unchartered waters for the industry we all love and enjoy.

Edited April 7, 2020 by Nymich

[rkacruiser]

22 hours ago, Nymich said:

It does sadden me as we are heading into unchartered waters for the industry we all love and enjoy.

 

Being able to watch the industry develop and being an active consumer of its products, it is saddening.  

 

It may be interesting--if not disappointing for many--to see what comes out of the end of this crisis. 

[Sir PMP]

On 4/6/2020 at 5:06 PM, DFD1 said:

The Saudis are very opportunistic. This was a great opportunity for them to become an important part of a world-wide corporation.....at a bargain price.... Smart move....

And ships in the desert..

[Nymich]

21 minutes ago, Sir PMP said:

And ships in the desert..

They sold Tesla off and then stock went sky high. Not too sure from a PR standpoint how good this looks.  I think CCL was desperate for cash from anyone anywhere.  CCL is expecting this shutdown to last a long time based off this move.

 

[npcl]

Now it is pretty much a watch and wait to see if CCL starts cruising again before it runs out of cash.

 

Then if they do start cruising do enough passengers come back to actually pay the debt they have taken on.

[Nymich]

48 minutes ago, npcl said:

Now it is pretty much a watch and wait to see if CCL starts cruising again before it runs out of cash.

 

Then if they do start cruising do enough passengers come back to actually pay the debt they have taken on.

I agree.  This is going to be a slowwww process either way.

[The-Inside-Cabin]

There is an interesting article in the NYT about the future of Carnvial Cruises.

 

Here is a link to the article.  

 

 

https://nyti.ms/3bYoS4M