Are Cruise Companies Going Bust?

Is Crystal Cruises going out of business?

After news broke last week that Genting Hong Kong, a resort and cruise conglomerate that owns a number of companies, was having financial troubles, Crystal Cruises, one of the companies owned by Genting, issued a statement that despite the trouble, the company is not going out of business..

Did Viking cancel all cruises?

Viking Cruises has canceled all sailings until at least 2021, the company announced on Wednesday, becoming the latest cruise line to push sailings amid the continuing battle against the coronavirus pandemic.

Will river cruises resume in 2021?

One of the line’s ships won’t return to service until at least May 2021. Here’s a look at the dates when major river, ocean and expedition cruise brands that market to North Americans say they will resume operations: Adventure Canada has canceled all 2020 departures.

Is Royal Caribbean selling ships?

After weeks of speculation, Royal Caribbean is in the process of selling two former cruise ships. … Royal Caribbean Cruises Ltd. Chairman and CEO Richard Fain confirmed the ships’ fate during a call with travel agents. He indicated that there are no plans to sell any ships right now, apart from the Pullmantur ships.

Which Cruise Line has the most debt?

Norwegian Cruise LineBefore having a look at the importance of debt, let’s look at how much debt Norwegian Cruise Line has. Based on Norwegian Cruise Line’s balance sheet as of May 15, 2020, long-term debt is at $8.43 billion and current debt is at $173.80 million, amounting to $8.61 billion in total debt.

What cruise ships are being scrapped?

History, Review, Itineraries, Ships, Deck Plans, NewsCosta Concordia. Scrapped: 2015. … American Glory. Scrapped: 2019. … Costa Victoria. Scrapped: 2020. … Carnival Inspiration. Scrapped: 2020. … Carnival Imagination. Scrapped: 2020. … Pullmantur Monarch. Current cruise: N/A. … Carnival Fantasy. Scrapped: 2020. … Orient Queen. Scrapped: 2020.More items…

Is Royal Caribbean filing bankruptcies?

A Spanish unit of Royal Caribbean Cruises (NYSE:RCL) has filed for bankruptcy because “the headwinds caused by the pandemic are too strong.” The Pullmantur Cruceros joint venture with Cruises Investment Holding filed for bankruptcy protection under Spanish insolvency laws with an eye toward reorganizing.

Is Crystal Cruise Line in financial trouble?

The parent company of Crystal Cruises, one of the world’s best-known luxury lines, is in financial trouble. Hong Kong-based Genting Hong Kong late Wednesday said it had stopped making payments to creditors as it contended with a sharp loss of revenue due to the coronavirus crisis.

What happens when a cruise ship is scrapped?

When a ship’s been earmarked for scrapping in somewhere like Alang, its operator will first remove anything it wants for salvage. … “It’s a very lonesome last voyage, because the ship is empty, no passengers, but yet it has the feel as if it’s still a cruise ship, because all the furniture would still be in place.

Which cruise line is going out of business?

Norwegian Cruise LineNew York (CNN Business) Norwegian Cruise Line Holdings warned investors Tuesday that it might be forced to go out of business, as tries to raise the money it’ll need to weather the coronavirus crisis.

What are the worst cruise lines?

13 Worst Cruise Ships in the WorldCosta Venezia. More bad news for Costa.Costa’s Favolosa. … Costa’s Fascinosa. … Costa’s Deliziosa. … Carnival Sunrise. … Previously Cruise & Maritime’s Magellan. … MSC’s Preziosa. … MSC’s Armonia. … More items…•

Which Cruise Line has the least amount of debt?

CarnivalCarnival has by far the lowest level of financial leverage at 1.78x, giving it the capacity to issue the most debt to ride out the pandemic before having to dilute shareholders through issuing equity.

Which Cruise Line has the most money?

Best Cruise Lines for the Money#1. Royal Caribbean International. #1 in Best Cruise Lines for the Money. … #2. Celebrity Cruises. #2 in Best Cruise Lines for the Money. … #3. Norwegian Cruise Line. #3 in Best Cruise Lines for the Money. … #4. Princess Cruises. … #5. Carnival Cruise Line. … #6. Holland America Line. … #7. MSC Cruises. … #8. Costa Cruises.

Is Viking cruise lines in financial trouble?

Cruise industry troubles According to the latest annual list produced by Norwegian financial magazine Kapital, Hagen has seen his personal wealth drop from $6.28 billion down to an estimated $2.1 billion in the space of a year. It is the biggest single-year drop ever recorded in the 30-year history of the report.

Is Norwegian Cruise Line in trouble?

TOPLINE. A day after warning that it may be forced to file for bankruptcy, Norwegian Cruise Line on Wednesday announced that it had raised over $2 billion in funding to ensure that the company can withstand “well over” a year without revenue amid the coronavirus pandemic.

Is Viking Cancelling River Cruises?

Viking Cruises announced Wednesday that they have canceled all of their ocean and river cruises through the end of 2020. A statement released by the company said, “We have made the decision to extend our temporary suspension of operations across all scheduled departures through December 31, 2020.”

What is Pullmantur cruise line?

Pullmantur Cruises was a cruise line headquartered in Madrid, Spain. … Pullmantur Cruises is the largest Spain-based cruise line. The company mainly markets to Spanish passengers, although cruises are also sold by some travel operators outside the Spanish-speaking world.

Where do retired cruise ships go?

As ships age, cruise lines have several choices, which include extensively refurbishing and relocating vessels to smaller, less popular regions; transferring or selling them to other lines; or sending them to a cruise ship junkyard for scrapping.