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SS Future Re-Open Plan: Timing, Testing Needs??!!


TLCOhio
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6 minutes ago, brimary said:

How can Cruising Companies plan worldwide holidays for us all who would love to cruise again when safe when the member countries of the UNITED Kingdom each have different regulations .The Governments are confused and so are the mere inhabitants

Excellent point @brimary I would say bottom line...they cannot.... .but I may be wrong...I have been before....and trust know I will be again...:)

Joseph

Edited by rucrazy
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On 10/17/2020 at 3:32 PM, rucrazy said:

Terry, you are in one of my favorite places in Ohio.. Columbus .. lived in Bexley for many years while working in Columbus, at G.D Ritzy's and the Drake Student Union on the campus of OSU! Joseph

 

Appreciate this super nice follow-up about Joseph's great connections to Central Ohio.  I live in the Clintonville part of North Columbus and know Bexley very well.  Usually (except this year due to Covid), we attend Bexley's wonderful and charming July 4th Parade.  Great Americana FUN!!  Also, I know all about the Drake Student Union.  Was on the OSU Student union Board in the late 1960's when it was being planned and built.  G.D. Ritzy's is trying to make a come-back and has its newest location a few blocks north of where we live in Columbus. Small world!!

 

From the South China Morning Post today, they had this headline: “Are smaller cruise ships the future after shock of Covid-19? Not so fast, say experts, mega-ships may still be attractive” with these highlights: “Pre-Covid-19, it did not seem a big leap to imagine Royal Caribbean International’s Wonder of the Seas, a 225,000-ton liner accommodating 5,500 passengers that is slated to debut in 2022, would in due course be eclipsed as the largest cruise ship in the world.
Yet, as with every other facet of travel, the coronavirus pandemic has significantly altered cruise operations. Cruise lines are already shedding ships and delaying new orders.  'I think you’re looking at an impact that will last, in practical terms, three to five years,' says Rod McLeod, retired chief marketing officer at Royal Caribbean International, regarding Covid-19’s effect on cruise operations. 'That means delayed new builds, and I think you’re going to see orders for smaller ships.'' "

 

BUT, there is more to consider in this "debate/discussion":  " 'If you had asked me this question a year ago I would say we had reached a limit,' said Dr Robert Kwortnik, associate professor of services marketing at Cornell University’s SC Johnson School of Business. 'There were big concerns about overtourism and really big ships in ports that couldn’t support them. But I have a different view of it now. For one, some of these ports and destinations have realised just how important cruise is. This is an example of what happens when the industry stops. There will be plenty saying, ‘We now realise how important cruise is to our tourism market.’ I see where some people in Venice are now upset the tourism economy has declined. So there may be less reluctance with regards to bigger ships.'  He added that the larger ships are so much more efficient and have better economies of scale. At a recent earnings call by Royal Caribbean, Jason Liberty, the chief financial officer, said some of the newer, larger ships can break even at 30 to 40 per cent occupancy.  'I thought that was really interesting because now you look at an Oasis-class ship and say, ‘We could run that at 50 per cent occupancy and operate at a profit.’ Plus, it’s so much bigger that [operators] can social distance aboard this ship better than aboard a much smaller ship,' said Kwortnik.”

 

Full story at:

https://www.scmp.com/lifestyle/travel-leisure/article/3105470/are-smaller-cruise-ships-future-after-shock-covid-19-not

 

THANKS!  Enjoy!  Terry in Ohio

 

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6 hours ago, brimary said:

Terry...re your earlier query re UK . Things are deteriorating with a botched selective programme of top tier problem areas being introduced today based upon science,so they tell us! Daily cases UP , Hospitals filling up to crisis point again, Daily death figures rising again. The instructions seem to be confusing the population with the resulting non compliance by large numbers of the population. Are you any wiser Terry with my attempt at answering your straight forward and simple question.??

 

YES!!  Agree, brimary, your summary does help.  Much of "it" might seems a little strange and illogical.  However, many people have become very frustrated and totally confused.  Time is taking its "toll"!!  Staying focused on a "task" for a few weeks is much easier than dealing with a challenging situation that runs on and on . . . for months and months.  Then, keeps going on longer and longer with no clear ending point seen ahead.  Nor, a commonly-agreed and universally-accepted solution!!  And, among the populations, there is an "imbalanced" as to how different people are affected and impacted.  Not easy or simple.  

 

THANKS!  Enjoy!  Terry in Ohio

 

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16 hours ago, TLCOhio said:

 G.D. Ritzy's is trying to make a come-back and has its newest location a few blocks north of where we live in Columbus.

Terry I had heard that as well... I hope the reboot keeps the original hotdog with that pop when you bite it casing and that great high fat (14%)ice cream...  That for me is what I loved most about the restaurant.

 

Joseph 

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On 10/17/2020 at 9:43 PM, Randyk47 said:


I definitely and unfortunately will have to say “right” with four countries of what I call the Big Six reporting significantly increased cases it makes me very nervous.    France, Spain, and the United Kingdom have all taken a step back to more restrictions and I think Germany is on the verge with Merkel urging better adherence to present restrictions.   Not sure about what is happening in Italy or Greece my other two Big Six countries.   Italy suffered greatly during the first wave and as one of our favorite countries I’m holding my mental breath for them right now.  Greece somehow relatively dodged the first wave and I hope that continues.   I’m really hoping and praying for some positive news but there isn’t much of that right now.   

 

Although the number of infected people rising everywhere all over Europe the situation in the single countries is quite different. Spain, France and UK are heavily struck once again and reacted with restrictions. Italy and Germany yet have much lower figures but have imposed similar restrictions.

 

No idea why you regard Greece with 10 millions people as one of the Big Six countries in Europe (all the others are in the range between 45 and 80 millions) but for some strange reasons they are one of the few spots in Europe which at the moment are still more or less corona-free.

 

Comparing the situation to the one in March/April there is one big difference all over Europe, the percentage of people hospitalized and fatalities is way lower. Nevertheless it is going to be a hard and long winter......

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I include Greece because of its historical significance and attractiveness as a vacation destination.  It also plays a fairly major part in the Med cruise industry.  I wasn’t thinking of them in terms of population.   

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5 hours ago, rucrazy said:

Terry I had heard that as well... I hope the reboot keeps the original hotdog with that pop when you bite it casing and that great high fat (14%)ice cream...  That for me is what I loved most about the restaurant.  Joseph 

 

Appreciate Joseph's G.D. Ritz's follow-up.  Will have to stop by, in your honor, to check out their "hot dog with that pop".  Sounds like fun and that it would be tasty.    

 

From last night's popular 60 Minutes television news program, CBS-TV had this headline: “Collapsing passengers, CDC missteps and 'public health malpractice': The story of the COVID flight from hell." This was their sub-headline: "After passengers on the Costa Luminosa cruise ship fell ill with COVID-19 in March, Americans were flown to Atlanta after reaching Europe. Passengers say what happened next was nothing short of a nightmare.”

 

Here are some of their story highlights: “Last March, 235 Americans boarded the Costa Luminosa cruise ship headed for Europe. They left Fort Lauderdale on March 5. At that time, there were only about 200 confirmed cases of coronavirus in the United States.  But as they were crossing the Atlantic, word spread that three passengers who left the ship during port calls in the Caribbean tested positive for COVID. And one had died.  By the time the Costa Luminosa was halfway across the Atlantic, passengers we spoke to say it seemed like everyone was coughing. The state department got involved and on day 13 of the cruise passengers learned they would be allowed off the ship in Marseille. France had just started a nationwide lockdown. The cruise line would not share the passenger list with us, but we were able to track down 64 of the Americans. And of those 64, 45 of them told us they tested positive for COVID soon after coming home.  The lack of a unified response means nobody knows exactly how many passengers from that flight from hell brought home the coronavirus. Or how many unsuspecting people they infected with COVID along the way.”

 

Overall, it was not a very pretty or nice story.  How much to blame the cruise line or CDC, etc., is unclear.  BUT, it points out the serious errors that happened back in March. Especially for when traveling in confined spaces such as cruise lines and/or on airliners where people are not prepared and separating properly, etc.  

 

Full story at:

https://www.cbsnews.com/news/flights-cruise-ships-covid-19-60-minutes-2020-10-18/

 

THANKS!  Enjoy!  Terry in Ohio

 

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53 minutes ago, TLCOhio said:

 

Overall, it was not a very pretty or nice story.  How much to blame the cruise line or CDC, etc., is unclear.  BUT, it points out the serious errors that happened back in March. Especially for when traveling in confined spaces such as cruise lines and/or on airliners where people are not prepared and separating properly, etc.  

 

Full story at:

https://www.cbsnews.com/news/flights-cruise-ships-covid-19-60-minutes-2020-10-18/

 

THANKS!  Enjoy!  Terry in Ohio

 

 

 

I think in March, most people of the world were still scratching their collective heads and saying "what's going on here"?  China was being secretive, Italy was just taking off and politicians, the world over were in denial, even if they were informed.  So, it would be pretty difficult, back in March, to have a unified response or even message.   I'm not sure how one could hold the cruise lines or airlines or bus companies or taxi drivers or restaurants, or anybody, (short of the Chinese Gov),  responsible for any spread of the CV-19.     JMHO

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From the Los Angeles Times Travel Section this morning, they had this headline: Expect a price jump, and new COVID-19 rules, when booking your next cruise”.  

 

Here are some of the story highlights: “More bad news for cruise fans: You’ll likely pay more for the next voyage you book and sail on — whenever that might be. Prices are going up, industry experts say, another unfortunate by-product of the COVID-19 pandemic. In addition to worrying about whether your trip will be canceled — and if you’ll get sick with the coronavirus on board — you’ll also have to dig deeper into your pocket to pay for the trip. The discussion was part of a 'Future of Cruise Travel' seminar last week during the annual Society of American Travel Writers convention, which was held virtually this year.  Speakers included Arnold Donald, president and chief executive officer of Carnival Corp.  When they do return to sea, there 'will be more demand than availability,' said Donald. 'There will be plenty of room to move prices up, not down.'  Few industries have been hit harder by the pandemic than the cruise industry, which was in the midst of decade-long record growth when the bottom dropped out in March. Carnival’s response to the eight-month shutdown? 'We’re getting rid of ships,'  Donald said.The corporation has downsized its fleet, selling or scrapping 18 older, less efficient ships to cut costs and reorganize.  'People want to explore,' said Rob Voss of Scenic Group. 'It’s in our genes. Everyone will adjust. When we all started wearing masks six months ago, people hated it. Now we’re all used to it.'  Another plus Donald is relying on: 'Regular cruisers usually sail every other year. We’ll be in good shape for a long time.' Added Voss: 'We’re seeing light at the end of the tunnel. We just don’t know how long the tunnel is.'   Regardless of the restrictions, however, no one can guarantee disease-free ships. 'We will always be in compliance,' Donald said, 'but no matter how much testing we do, as long as it’s in the population, it’s going to end up on a ship.' ”

 

Full story at:

https://www.latimes.com/travel/story/2020-10-19/cruise-price-increase-covid-19-rules-coronavirus

 

THANKS!  Enjoy!  Terry in Ohio

 

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4 hours ago, crusinbanjo said:

 

I think in March, most people of the world were still scratching their collective heads and saying "what's going on here"?  China was being secretive, Italy was just taking off and politicians, the world over were in denial, even if they were informed.  So, it would be pretty difficult, back in March, to have a unified response or even message.   I'm not sure how one could hold the cruise lines or airlines or bus companies or taxi drivers or restaurants, or anybody, (short of the Chinese Gov),  responsible for any spread of the CV-19.     JMHO

 

I can tell you by 1st week of March, our family knew something was seriously up. I was the sickest I've ever been ( starting end of February) And I have had blood clots in my lungs, and was more sick than that ( and hallucinations of death). I know where I got it.   Son-in-law on March 3rd, was weirdly ill, and lost his taste and smell, well before the 1st publicized people testing positive in our area.  We locked ourselves down.  I keep a womens health daily diary journal, and its frightening to re-read.   We all knew this was going to be bad.

They ( Boston scientists)started sequencing this in January to start on a vaccine.

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1 hour ago, Randyk47 said:

Terry - Your last post doesn’t leave me with a lot of warm fuzzies about cruising again soon.  

Randy,

 

Sorry to say. There’s nowhere to glean any warm fuzzies right now, certainly with respect to resumed  cruising, or even unrestricted international travel, probably not anytime soon. It’ll be a long slog back, that’s certain.

 

Dr. Michael Osterholm, the infectious disease guy, has made a couple of informed predictions over the last couple of days. About the present surge (it’s just started), on limited vaccine availability for first responders & at-risk populations (no earlier than 2Q 2021), regarding widespread vaccine availability late 4Q 2021 (optimistic in his mind). I’m paraphrasing from multiple interviews.

 

Therefore, my take on his comments is, the prognosis for all forms of international travel in the short term is poor, longer may be somewhat better. A fairly long buildup time to see large scale immunity start to appear in the population is likely, and so sporadic outbreaks will continue to appear for some time. Governments will adjust border policy as their situations change, both for good and bad.

 

The pandemic has triggered a major consolidation in the cruise business, both in total passenger capacity and number of lines (as noted in Terry’s post). That’s sure to drive pricing up as we go forward in time (supply & demand). That higher pricing certainly lessens the appeal of cruise travel, but doesn’t in any way kill it. What could take all the fun out of it is the draconian changes the lines might have to institute to keep the traveling public safe. Let’s hope that doesn’t happen!

 

Doc Ruth

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2 hours ago, kimanjo said:

 

I can tell you by 1st week of March, our family knew something was seriously up. I was the sickest I've ever been ( starting end of February) And I have had blood clots in my lungs, and was more sick than that ( and hallucinations of death). I know where I got it.   Son-in-law on March 3rd, was weirdly ill, and lost his taste and smell, well before the 1st publicized people testing positive in our area.  We locked ourselves down.  I keep a womens health daily diary journal, and its frightening to re-read.   We all knew this was going to be bad.

They ( Boston scientists)started sequencing this in January to start on a vaccine.

Really feel for you and your situation, I certainly would not want to be where you have been and I am truly glad you came through ok.  You certainly knew something was going on, but the vast majority did not, so I will stand on my comments.  

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Terry...Thanks once again for your detailed update from the States.My basic economic experience over a lifetime in the industry told me when low demand reduce the price,when high demand increase the price.What makes Silversea think it is the opposite.Too Many unknowns likely to be around for a long time mean no plans for resuming our favourite annual holidays on Silversea until at least 2022 assuming SS is still around.

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9 hours ago, crusinbanjo said:

Really feel for you and your situation, I certainly would not want to be where you have been and I am truly glad you came through ok.  You certainly knew something was going on, but the vast majority did not, so I will stand on my comments.  

 

The point of my post was really not about our specific ordeal, but more about the dates of all of this happening.Middle/ End of February.

One last thing.  The person who I believe where we got it, at least my husband and I was a friend who was sick with wierd symptoms, his doctor sent him to.....THE CDC to get tested ( about 3rd week of February).   Lots of people get referred to MD Anderson, or Mayo Clinic for help with diagnosis..  How many people have you ever heard of being sent to the CDC?? Their diagnosis was very vague "pneumonia".  

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54 minutes ago, kimanjo said:

 

The point of my post was really not about our specific ordeal, but more about the dates of all of this happening.Middle/ End of February.

One last thing.  The person who I believe where we got it, at least my husband and I was a friend who was sick with wierd symptoms, his doctor sent him to.....THE CDC to get tested ( about 3rd week of February).   Lots of people get referred to MD Anderson, or Mayo Clinic for help with diagnosis..  How many people have you ever heard of being sent to the CDC?? Their diagnosis was very vague "pneumonia".  


While it is a bit unusual to be referred to the CDC for testing it does happen in unique situations.   Part of being tested by the CDC is the availability of a local CDC office with testing capabilities.  Not every state and certainly not every city in the US has a CDC office.   Secondly, and probably kudos to the doctor for recognizing at a “gut” level that there was something unusual about your friend’s symptoms.   In February we were just starting to really hear about Covid-19 and the potential pandemic.   In fact my wife, who is the chief of staff of a military medical activity, flew to Washington, DC the first week of March for business for reasons other than the virus and while discussed it wasn’t yet the issue and situation it was to become.  As an aside I picked my wife up at the airport on her return and since it was late afternoon we stopped at our favorite Tex-Mex restaurant for an early dinner.   Turns out that was the last time we ate dinner out, some 30+ weeks ago.   
 

Within a week of her return my wife had a staff member who was diagnosed as having pneumonia.  He stayed home and went through the standard regiment of antibiotics.  After 10 days he returned to work but for literally a couple of hours since he still wasn’t 100%.   Fast forward a few days and his spouse became ill and was diagnosed with Covid-19.   The staff member relapsed about the same time.  Both passed of Covid-19 within 48 hours of each other at Easter.    Things back then, even in a medical environment, changed quickly.  A lot of would have, should have, and could of moments in retrospect had we fully understood the “enemy at the doorstep”.   Luckily the virus did not spread in my wife’s staff and 200+ days later she just yesterday had a second staff member test positive.  

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59 minutes ago, Randyk47 said:

While it is a bit unusual to be referred to the CDC for testing it does happen in unique situations.

@Randyk47

I totally understand this point.. Given the date of referral and examination  for the CDC to diagnosis pneumonia without * for possible Covid .. I personally thought was "WoW" ....

Guess it just shows how little we really know about this virus...

 

Joseph

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17 hours ago, Randyk47 said:

Terry - Your last post doesn’t leave me with a lot of warm fuzzies about cruising again soon.  

 

For Randy, I did not intend to be a "Debbie Downer" in sharing that Sunday 60 Minutes story on CBS television  That show gains a big, prime-time audience and their reporters/producers did a good job in putting it "all" together.  Much of that story for March (early during this process/saga) was about how the plane load from France flew into Atlanta (home of the CDC) and that key Federal agency was not well-prepared as to how these individuals coming off of an infected cruise were to be handled and managed. Many mistakes have been made as this is a somewhat "new" situation that has not been experienced in recent decades.  

 

Sorry to hear on the challenges that faced kimanjo and family.  Not an easy or simple process where the medical steps had not been perfected by that stage.  Even today, we are still "exploring", slowly, painfully, in figuring out what all happens next.  Appreciate this background from kimanjo.  Regular lung illnesses are challenging, but these types of "pneumonia" mixed with Covid-19 get even more difficult.  

 

This thread is now over 50,000 views.  Thanks to all who have dropped by, raised questions, shared information, etc.  Keep it coming!!  All is very helpful and informative.  

 

From Forbes magazine late this morning, they had this headline: “Shots In The Dark: Why Access To A Covid-19 Vaccine Isn’t Guaranteed with this introduction by two involved in this interview/discussion of factors involved: "As the pandemic continues to rage unabated, structural weaknesses in how we research, develop, and distribute medicines have come into sharp relief, raising questions about who will be able to access an eventual vaccine. Priti Krishtel, co-founder of I-MAK, sat down with Ashoka to discuss myths and reality in America’s quest for immunity."

 

Here are a few highlights from their back-and-forth comments : “The reality is that a vaccine is no silver bullet. Some people are going to get it first and some people aren't going to get it at all. We've seen that play out with personal protective equipment, with ventilators, with testing. Professional basketball players were getting routinely tested before the rest of us could access a single test. We need to shift away from the idea that vaccines are a quick fix. The problem we’re facing isn’t finding a vaccine for Covid. It’s building a system that allows us to respond effectively not just to this pandemic, but to the next one and the next one. If we address the drivers of lack of access — things like high drug prices and inequities in the medicines system — then we can ensure that treatments for cancer, diabetes, and a whole host of other diseases are accessible to people who need them.  It’s like sending one life boat to rescue an entire cruise ship. To make matters worse, we’re seeing countries signing private agreements with drugmakers to get as much for themselves as possible. It is really disappointing to see that so many of the steps we've taken over the last few decades to build partnerships and encourage global cooperation are being eroded right now. The result is that poor countries will be at the mercy of rich ones and unlikely to get the vaccine for years.”

 

This is a long, complicated/comprehensive review of many, varied issues about how drugs/vaccines are developed, patent/legal questions, etc., etc.  It is not a simple area to summarize with so many different, key policy questions involved, affecting countries all over the globe.  Since cruising is world-wide, the questions as to when and how those poorer countries will receive such vaccines fits into the "PUZZLE" for putting the overall travel picture back together during the future years. 

 

Full story at:

https://www.forbes.com/sites/ashoka/2020/10/20/shots-in-the-dark-why-access-to-a-covid-19-vaccine-isnt-guaranteed/#9a2f9186a3b0

 

THANKS!  Enjoy!  Terry in Ohio

 

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4 hours ago, Randyk47 said:

Luckily the virus did not spread in my wife’s staff and 200+ days later she just yesterday had a second staff member test positive.  

 

Appreciate these added details and the follow-up from Randy down in Texas.  This background re-enforces the complicated nature of dealing with these medical challenges.  

 

From MSN News and the Miami Herald early this afternoon, they had this headline: “PortMiami wants $285M in COVID rent breaks for cruise lines as debt pressures grow” with these highlights: “Faced with a crippled cruise industry as a one-time cash cow, PortMiami wants to slash required rent payments for ships and hope business picks up in time to cover debt payments for an ongoing expansion. The proposal before Miami-Dade commissioners Tuesday would waive up to $285 million in fees Carnival, NCL, Royal Caribbean and other cruise companies would owe under minimum-rent deals they signed years ago to use the county-owned docks, terminals and garages off downtown Miami. The revenue is crucial to the port’s long-time financial viability, and its ability to make debt payments that otherwise must be covered by county tax dollars.  While the agreements require companies in the $35 billion cruise industry to pay the port millions of dollars in rent each year no matter how many passengers book cabins, the administration of Mayor Carlos Gimenez wants to forgive those payments as a way to keep Miami a cruising hub during the COVID recovery. Add it up and the waivers after the no-sail order is lifted would mean another $220 million in lost required revenue to the port, bringing the total relief to cruise lines to roughly $275 million, depending on whether the no-sail order lasts until next summer.”

 

Glad that I am not a taxpayer down in Miami and Florida worrying about picking up the tab for these port costs and bond payment legal obligations.  A significant number of financial questions are up in the air.  MANY LEVELS OF UNCERTAINITY??!!

 

Full story at:

https://www.msn.com/en-us/travel/news/portmiami-wants-dollar285m-in-covid-rent-breaks-for-cruise-lines-as-debt-pressures-grow/ar-BB1adFT4

 

THANKS!  Enjoy!  Terry in Ohio

 

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Eight passengers who sailed on Costa Cruises' Costa Diadema have tested positive for COVID-19, Roger Frizzell, spokesperson for Carnival Corp., the parent company to Costa, confirmed to USA TODAY Friday. 

https://news.yahoo.com/eight-passengers-test-positive-covid-194123929.html

Are the cruise lines that are still operating itineraries using the Quick test? And secondly does anyone have statistics on reliability of those tests?

 

Joseph

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14 hours ago, rucrazy said:

And secondly does anyone have statistics on reliability of those tests?

The reported rate of false negatives is as low as 2% and as high as 37%. The false positive rate — that is, how often the test says you have the virus when you actually do not — should be close to zero.

 

This is from Harvard-https://www.health.harvard.edu/blog/which-test-is-best-for-covid-19-2020081020734  And it for molecular tests

From the same source  
What about accuracy?  (Antigen test)The reported rate of false negative results is as high as 50%, which is why antigen tests are not favored by the FDA as a single test for active infection.

 

Confusing isn't it.  So by far the best test is the molecular test, commonly referred to as the PCR test which is the nasal swab test.  Its false positive test is close to 0.  This test takes time to process, usually 1-3 days.  I would not place and faith at all in the antigen test.  This is the one that yields quick results, as fast a 15 minutes,  and is what is being proposed for things like passing quarantine at airports, or getting on a cruise ship, or getting into the White House.  

 

 

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5 hours ago, chrism23 said:

The reported rate of false negatives is as low as 2% and as high as 37%. The false positive rate — that is, how often the test says you have the virus when you actually do not — should be close to zero.  This is from Harvard-https://www.health.harvard.edu/blog/which-test-is-best-for-covid-19-2020081020734  And it for molecular tests.   From the same source  What about accuracy?  (Antigen test)The reported rate of false negative results is as high as 50%, which is why antigen tests are not favored by the FDA as a single test for active infection.  Confusing isn't it.  So by far the best test is the molecular test, commonly referred to as the PCR test which is the nasal swab test.

 

Appreciate these details and the follow-up from our New England CC friend as to the differences and questions related to "TESTING".  Clearly all testing is not equal as to its quality, accuracy and performance.  Many variables are involved, especially as cruise lines seek to re-open and only allow on-board those who have passed such testing.  And, still, nobody answers and addresses the financial liabilities/costs if at some point in the pre-boarding and/or cruising process that you are tested as potentially having the Covid infection.   The lists of "unknowns" seems to grow longer and more complicated.  

 

From MSN News and a Bloomberg financial news column this morning, they had this headline: “Airlines Will Face a Reckoning Like the Banks Did” with these highlights: “When U.K. travel brand Thomas Cook relaunched as an online travel agent last month, it needed a way to convince customers that it’s become a more reliable custodian of their money since its 2019 bankruptcy and that they’ve nothing to fear from booking a holiday during a pandemic.  Its solution was to promise that most of the cash customers hand over long before they go on holiday will now be held in a ring-fenced trust account until they return.  For anyone who’s struggled this year to get a refund from an airline, cruise ship operator or travel agent, this will sound appealing. The model is bound to become much more common as regulators begin to understand the benefits. It’s about time.  When British tour operators renew their licenses to operate in the coming weeks, some may be asked to keep customer prepayments in a segregated account, the Telegraph newspaper reported recently. Currently, travel companies and airlines are often free to spend the prepayments on whatever they like, and long before the trip happens.”

 

Good and serious policy questions as to the safety and security of OUR advanced payments made for future travel.  

 

Here is more from this column by this experienced financial services reporter: "From the travel companies’ perspective getting customers to stump up money months before they travel is great — it’s like getting a big interest-free loan. Lufthansa, cruise operator Carnival Corp. and tour company TUI AG all held several billion dollars of customer cash, according to their most recent full financial results. When Covid-19 shut down global travel, consumers realized they were getting a raw deal. Many endured a Kafkaesque battle with company bureaucracies to get their money back and they often had to make do with vouchers."  This columnist previously worked for the respected Financial Times publication. 

 

Full story at:

https://www.msn.com/en-us/money/companies/airlines-will-face-a-reckoning-like-the-banks-did/ar-BB1affUK

 

THANKS!  Enjoy!  Terry in Ohio

 

Sydney to NZ/Auckland Adventure, live/blog 2014 sampling/details with many exciting visuals and key highlights.  On page 23, post #571, see a complete index for all of the pictures, postings.  Now at 231,160 views.

www.boards.cruisecritic.com/showthread.php?t=1974139

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