Cruise Liners Slip After Cases of Covid Outbreaks on Ships
By Dhirendra Tripathi
Investing.com – Shares of cruise operators traded lower on Monday as cases of Covid-19 outbreak on board the running ships continue to rock the companies.
Norwegian Cruise Line (NYSE: NCLH ) fell 3.2% while Royal Caribbean Cruises (NYSE: RCL ) and Carnival (NYSE: CUK ) Corporation (NYSE: CCL ) lost around 2.4% each.
Last week saw at least three outbreaks affecting cruise ships operated by Royal Caribbean and Carnival.
Royal Caribbean-operated Symphony of the Seas -- the world's biggest cruise ship– had 48 guests and crew members test positive on the ship that first sailed December 11. The case was reported last Monday. There were 6,091 people on the ship and Royal Caribbean said 98% of those who tested positive were fully vaccinated.
Cruise operators have been among the worst hit by the pandemic as lockdowns and aversion to travel, particularly discretionary, dealt a big blow to companies’ health.
Stringent conditions laid down by the Centers for Disease Control and Prevention for running cruises have also meant higher costs for the operators. Periodic cases of outbreaks have ensured that those stringent norms stay in place, also acting as a dampener for some keen to travel without restrictions of tests and other barriers.
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