Deborito Posted October 24, 2008 #51 Share Posted October 24, 2008 They may remove it if certain conditions apply yada yada yada. It's great if you are booked in 2010. Not such a victory for 2009. Debbie Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #52 Share Posted October 24, 2008 In my opinion, while the drop in oil prices is their main explanation, I think other factors also contributed to their decision. And with OPEC cutting oil production, what if oil shoots above $100 a barrel again? Will they re-implement the surcharge? I think not. BTW... I am a shareholder so I follow their stock. There stock is at about $15.75 today down from a 52 week high of $43.96. OPEC cuts will not bring the price back to $100 anymore than OPEC increases prevented rises in oil as oil kept skyrocketing earlier this year. For now oil is trending down and until the global economy begins roaring again it is likely to stay down. There are a lot of people speculating on $50 per barrel in near future. The current bad ecconomy has all sorts of negatives to it, but at least much cheaper oil & gas are a positive side effect. I think RCL is phasing out the fuel surcharge because they have to - fuel is no longer high enough for them to justify keeping the surcharge in place for long. I do not think the falling stock price was a factor; if oil was still high the fuel surcharge would remain. Link to comment Share on other sites More sharing options...
PantherFan Posted October 24, 2008 #53 Share Posted October 24, 2008 I don't necessary think the fuel charge is keeping people from sailing.....it is the economy. The majority of cruisers are older and are watching their nest eggs and you can't blame people for that. Link to comment Share on other sites More sharing options...
aurelius180 Posted October 24, 2008 #54 Share Posted October 24, 2008 OPEC cuts will not bring the price back to $100 anymore than OPEC increases prevented rises in oil as oil kept skyrocketing earlier this year. For now oil is trending down and until the global economy begins roaring again it is likely to stay down. There are a lot of people speculating on $50 per barrel in near future. The current bad ecconomy has all sorts of negatives to it, but at least much cheaper oil & gas are a positive side effect. I think RCL is phasing out the fuel surcharge because they have to - fuel is no longer high enough for them to justify keeping the surcharge in place for long. I do not think the falling stock price was a factor; if oil was still high the fuel surcharge would remain. And just because OPEC *agrees* to lower production doesn't mean they all do...;) Link to comment Share on other sites More sharing options...
aurelius180 Posted October 24, 2008 #55 Share Posted October 24, 2008 I think the recent downgrade of their stock on October 23rd by Goldman Sachs and other analysts also had a hand in this. They have to increase bookings and eliminating the fuel surcharge may help. "Stock price targets lowered for Carnival, Royal Caribbean Shares of cruise operators declined as a Goldman Sachs analyst lowered some price targets, saying investors remain wary of companies whose performance is closely tied to discretionary spending. The cruise industry and other sectors have been squeezed as consumers curb spending due to the housing downturn, diminishing credit and escalating food costs.... " Goldman tied it discretionary spending and not high oil prices. With the losses people have taken recently oil could be $20/barrell there still wouldn't be too much extra money floating around. It sounds like RCCL reduced/removed the surcharge because their original justification is gone. Link to comment Share on other sites More sharing options...
crusinmama06 Posted October 24, 2008 #56 Share Posted October 24, 2008 They removed the fuel charges????? Where have I been all day? Need to go find the details. Wooohooo! And yeah, not going to be knocking that gift horse, thanks! Link to comment Share on other sites More sharing options...
Rare BillOh Posted October 24, 2008 #57 Share Posted October 24, 2008 And just because OPEC *agrees* to lower production doesn't mean they all do...;) Now there is somebody with a knowledge of history, at least the last 50 years. Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #58 Share Posted October 24, 2008 Now that oil prices have dropped all over the world I wonder if Royal and other cruise lines will cut back their fuel surcharges?. You got your wish! :) Link to comment Share on other sites More sharing options...
Fblack Posted October 24, 2008 #59 Share Posted October 24, 2008 Some may be missing the point. Their low share price has cost them about $5 billion dollars in capitalization. The economy had a big part in driving down share prices. They have to get their stock prices back up. A fuel supplicant was not doing what was intended. (Increase their bottom line) They have been actively slashing fare prices and making deals. The fuel surcharge was ultimately driving up the cost of a cruise which in turn was slowing booking. My point is, share value is more important to them than recovering a few hundred dollars in fuel surcharges. Link to comment Share on other sites More sharing options...
Jaxsonbrownie Posted October 24, 2008 #60 Share Posted October 24, 2008 They removed the fuel charges????? Where have I been all day? Need to go find the details. Wooohooo! And yeah, not going to be knocking that gift horse, thanks! Here you go Crusinmama06: Royal Caribbean Cruises Ltd. Announces End To Fuel Supplement Miami - October 24, 2008 - Royal Caribbean Cruises Ltd. today announced that the company's fuel supplement will no longer apply to new Royal Caribbean International, Celebrity Cruises and Azamara Cruises bookings made on or after November 10, 2008, anywhere in the world, for sailings that depart on or after January 1, 2010. This decision takes into consideration the recent reductions in global fuel prices. The company has also established specific guidelines that will determine whether fuel supplement refunds will be provided for sailings that begin in 2009 and later, which were booked prior to November 10, 2008, if fuel prices remain below a specific price threshold. For 2009 sailings and 2010 sailings booked before November 10, 2008, the company will determine on a quarterly basis whether fuel supplements will be refunded. Refunds, in the form of an onboard credit, will be provided if the closing price of West Texas Intermediate fuel is $65 or less, at the closing time of the New York Mercantile Exchange, two weeks prior to the beginning of the upcoming calendar quarter. When those conditions are met, an onboard credit will be provided to all guests on sailings that begin during the upcoming calendar quarter. The dates on which the price of West Texas Intermediate fuel will be measured, and the quarters during which refunds could apply are: Fuel Price Determination Date Quarter of Possible Fuel Supplement Refunds December 18, 2008 First quarter 2009 March 18, 2009 Second quarter 2009 June 17, 2009 Third quarter 2009 September 17, 2009 Fourth quarter 2009 December 18, 2009 First quarter 2010 March 18, 2010 Second quarter 2010 June 17, 2010 Third quarter 2010 September 17, 2010 Fourth quarter 2010 The company will continue to closely monitor the movement of global fuel prices and recognize that an upturn in those prices could necessitate the reinstatement of a fuel supplement. Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Cruises and CDF Croisieres de France. The company has a combined total of 38 ships in service and six under construction. It also offers unique land-tour vacations in Alaska, Asia, Australia, New Zealand, Canada, Europe and South America. Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #61 Share Posted October 24, 2008 Some may be missing the point. Their low share price has cost them about $5 billion dollars in capitalization. The economy had a big part in driving down share prices. They have to get their stock prices back up. A fuel supplicant was not doing what was intended. (Increase their bottom line) They have been actively slashing fare prices and making deals. The fuel surcharge was ultimately driving up the cost of a cruise which in turn was slowing booking. My point is, share value is more important to them than recovering a few hundred dollars in fuel surcharges. I think you are off on your opinion. The share price has nothing to do with this. Oil has dropped from $148 per barrel to $64 per barrel. A fuel surcharge cannot be justified at this point in time. I think you are really stretching for an explanation when the obvious one is that they are phasing out the fuel surcharge because the cost of fuel is not below what it was when they instituted the fuel surcharge. It is as simple as that. They are trying to boost profits through various cost cutting measures that have been discussed ad nauseum on these boards; that is how they are hoping increase profits - and thereby raise the share price. Link to comment Share on other sites More sharing options...
Aubiecruiser Posted October 24, 2008 #62 Share Posted October 24, 2008 Looks like I'll be waiting till after Nov. 10th to book my next cruise.:D Aubie Link to comment Share on other sites More sharing options...
firefly333 Posted October 24, 2008 #63 Share Posted October 24, 2008 Looks like I'll be waiting till after Nov. 10th to book my next cruise.:D Aubie thats what I said about Carnival cruises in 2010, Ill wait until their Oct 31st date when they will be removing the surcharge. Link to comment Share on other sites More sharing options...
hayward Posted October 24, 2008 #64 Share Posted October 24, 2008 I JUST GOT THIS OFF THE WEBSITE Fuel Supplement Information October 24, 2008, Update Our fuel supplement will no longer apply to new Royal Caribbean International bookings made on or after November 10, 2008, anywhere in the world, for sailings that depart on or after January 1, 2010. This decision takes into consideration the recent reductions in global fuel prices. We have also established specific guidelines that will determine whether fuel supplement refunds will be provided for sailings that begin in 2009 and later, which were booked prior to November 10, 2008, if fuel prices remain below a specific price threshold. For 2009 sailings and 2010 sailings booked before November 10, 2008, we will determine on a quarterly basis whether fuel supplements will be refunded. Refunds, in the form of an onboard credit, will be provided if the closing price of West Texas Intermediate fuel is $65 or less, at the closing time of the New York Mercantile Exchange, two weeks prior to the beginning of the upcoming calendar quarter. When those conditions are met, an onboard credit will be provided to all guests on sailings that begin during the upcoming calendar quarter. The dates on which the price of West Texas Intermediate fuel will be measured, and the quarters during which refunds could apply are: Fuel Price Determination Date Quarter of Possible Fuel Supplement Refunds December 18, 2008 First quarter 2009 March 18, 2009 Second quarter 2009 June 17, 2009 Third quarter 2009 September 17, 2009 Fourth quarter 2009 December 18, 2009 First quarter 2010 March 18, 2010 Second quarter 2010 June 17, 2010 Third quarter 2010 September 17, 2010 Fourth quarter 2010 We will continue to closely monitor the movement of global fuel prices and recognize that an upturn in those prices could necessitate the reinstatement of a fuel supplement. ~~~~~~~~~~~ Currently (Since June 30, 2008) Link to comment Share on other sites More sharing options...
BrainChemicals Posted October 24, 2008 #65 Share Posted October 24, 2008 OMG, this is great news. Do you have a link to this announcement? Thanks!! Link to comment Share on other sites More sharing options...
AnotherCruisingKid Posted October 24, 2008 #66 Share Posted October 24, 2008 Looks like I'll be waiting till after Nov. 10th to book my next cruise.:D Aubie Price it out now though and watch it. November 10, it may be a couple hundred more. (sound like Carnival?) Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #67 Share Posted October 24, 2008 OMG, this is great news. Do you have a link to this announcement? Thanks!! Great news indeed; this is the first I have heard of it. :cool: Link to comment Share on other sites More sharing options...
mikeblum Posted October 24, 2008 #68 Share Posted October 24, 2008 if we sail on the mariner of the sea's on sunday march 15th then our fuel surcharge will be given back in the form of a onboard credit if the price of oil is below 68.00 a barrel...on december 18th 2008...it sounds like the second qtr date will be march 18th...for those folks...but mine would be 12-18-2008...does anyone know what the price of a barrel is right now... Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #69 Share Posted October 24, 2008 if we sail on the mariner of the sea's on sunday march 15th then our fuel surcharge will be given back in the form of a onboard credit if the price of oil is below 68.00 a barrel...on december 18th 2008...it sounds like the second qtr date will be march 18th...for those folks...but mine would be 12-18-2008...does anyone know what the price of a barrel is right now... The price has to be at or under $65 on the specific dates they outlined, not $68. The price is currently $63.15. See: http://www.bloomberg.com/energy/ (look at the third listing under Petroleum - the WTI Cushing Spot). Link to comment Share on other sites More sharing options...
ChristieNJ Posted October 24, 2008 #70 Share Posted October 24, 2008 Very nice! Nice to see RCI won't be keeping the extra money they could have made, but that they will no longer charge for the fuel and possibly even refund! That's great. :) Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #71 Share Posted October 24, 2008 OMG, this is great news. Do you have a link to this announcement? Thanks!! If this were true, don't you think there would be other threads popping up about it? :cool: Link to comment Share on other sites More sharing options...
ChristieNJ Posted October 24, 2008 #72 Share Posted October 24, 2008 If this were true, don't you think there would be other threads popping up about it? :cool: There are other threads on the boards about it. Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #73 Share Posted October 24, 2008 There are other threads on the boards about it. Do you have any links? :confused: Man do I need a Starbucks. :eek: Link to comment Share on other sites More sharing options...
ChristieNJ Posted October 24, 2008 #74 Share Posted October 24, 2008 Do you have any links? :confused: Man do I need a Starbucks. :eek: Here ya go: http://www.royalcaribbean.com/contentPage.do?pagename=fuel_supplement Link to comment Share on other sites More sharing options...
Gonzo70 Posted October 24, 2008 #75 Share Posted October 24, 2008 Here ya go: http://www.royalcaribbean.com/contentPage.do?pagename=fuel_supplement Thanks. Wow, maybe this is true... either that or you do a very good job creating a phony Royal Caribbean web site FAQ. :D Link to comment Share on other sites More sharing options...
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