Major Cruise Lines 'Voluntarily Suspend' Trips Out Of US Ports Until Sept. 15

Tyler Durden's Photo
by Tyler Durden
Friday, Jun 19, 2020 - 03:50 PM

Cruise Lines International Association (CLIA) announced Friday afternoon that major cruise lines would voluntarily extend the suspension of cruise operations from U.S. ports until September 15. 

"Due to the ongoing situation within the U.S. related to COVID-19, CLIA member cruise lines have decided to voluntarily extend the period of suspended passenger operations.  The current No Sail Order issued by the U.S. Centers for Disease Control and Prevention (CDC) will expire on July 24, and although we had hoped that cruise activity could resume as soon as possible after that date, it is increasingly clear that more time will be needed to resolve barriers to resumption in the United States.

"Although we are confident that future cruises will be healthy and safe, and will fully reflect the latest protective measures, we also feel that it is appropriate to err on the side of caution to help ensure the best interests of our passengers and crewmembers.  We have therefore decided to further extend our suspension of operations from U.S. ports until September 15.  The additional time will also allow us to consult with the CDC on measures that will be appropriate for the eventual resumption of cruise operations. 

"This voluntary suspension applies to all CLIA members to which the No Sail Order applied (vessels with capacity to carry 250 persons or more). CLIA member cruise lines will continually evaluate the evolving situation and make a determination as to whether a further extension is necessary." - CLIA statement. 

Carnival Corp., Disney Cruise Line, Holland America Line, Princess Cruises, Royal Caribbean International, and Silversea Cruises are some of the CLIA members that had previously announced a pause of operations in early March. The Centers for Disease Control and Prevention (CDC) extended no sails on April 9 until July 24. Now it appears an extension will last through mid-September. 

Shares of Carnival Corp., Royal Caribbean, and Norwegian Cruise Line are all down about 5% in the final hour of the U.S. cash session on Friday. 

Barstool Sports founder Dave Portnoy, the biggest travel stock bull on Twitter, has been advocating the dip should be bought in these stocks - we wonder if the latest CLIA announcement will change his investment advice to his followers?