TLCOhio

YES, even in good and normal times, we would expect some track-record and pattern of positive customer feedback. But these days with serious supply chain challenges and staffing shortage, we want a reasonable level of proven performance. Great comments and follow-up from Gourmet Gal. From the New York Times two days ago, they had this headline: “Transportation Dept. Proposes New Rule to Ease Air Travel Chaos for Passengers" with this sub-headline: "If a new federal policy goes into effect, Americans will have more recourse when airlines cancel or significantly delay flights.” Here are a few of their story highlights: “Amid an infuriating summer for air travel, the Department of Transportation is proposing changes that guide flight refunds, providing more recourse for passengers when airlines cancel flights or significantly alter a flight’s schedule, route or seat categories. The rule, which the agency will decide on after a 90-day public comment period closes, would also require U.S. carriers that received pandemic aid to issue a full refund if a passenger chooses not to travel because of certain coronavirus-related factors, such as a country shutting down to nonessential travel.” Full story at: https://www.nytimes.com/2022/08/04/business/transportation-dept-airline-rule.html THANKS! Enjoy! Terry in Ohio Amazon River-Caribbean 2015 adventure live/blog starting in Barbados. Many visuals from this amazing river and Caribbean Islands (Dutch ABC's, St. Barts, Dominica, Grenada, San Juan, etc.). Now at 70,209 views: www.boards.cruisecritic.com/showthread.php?t=2157696

For those in Midwest and/or those who are roller coaster fans, you might have heard of Cedar Point. It is located, charmingly, right on Lake Erie with a beach where later-to-be famed football legend Knute Rockne was a summer life guard in 1913. There, Rockne worked to perfect the forward passing concept that he would use to win three National Championship at Notre Dame. Cedar Point is known as the Roller Coaster Capital of the World. They have several of the top-rated, most-intense thrill rides. Last week, we were there with our son and two grandsons, ages ten and nearly twelve. I rode eight of the thrill rides, but our younger families did many, many, many more. There were limits as to how many twists and turns, upside down experiences, etc., that my aged body and brain could sustain. Yes, it was fun and we had a perfect weather day. Much less crowded and not as hot, hot as we experienced in early May doing a week for our 50th Wedding Celebration with the whole family, including two grandsons, at Disney World and Universal Studios in Central Florida. Cedar Point goes back to 1870 when visitors from Detroit, Cleveland, etc., would ride on steamships to visit this resort location. THANKS! Enjoy! Terry in Ohio Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,710 views. www.boards.cruisecritic.com/showthread.php?t=1227923 From Cedar Point on Lake Erie, here is a small sample of the high-intensity rides, a special parade to celebrate their 150th anniversary and their old-fashioned, coal-fired steam locomotive. Look like fun?: (Open your screen/viewer wider to see these visuals larger/better!) At night at Cedar Point, there are different visuals as certain rides such as the ferris wheel are uniquely lighted, plus the twists and turns of rides as a the sun sets. Like?: The next morning from Sandusky looking across the Bay, here is the view showing just a few of the mega roller coasters and high-intensity rides that rise up more than 200' in the air.:

From our family room door and next to our patio, here was a visitor a week ago. We live in a wooded ravine area in Central Ohio and receive many deer visitors. BUT, few have this nice of a rack. Agree? THANKS! Enjoy! Terry in Ohio Not quite like being in Alaska, but for the middle of the city, this deer visitor looked cute and interesting. But, they eat up our hosta, etc.: (Open your screen/viewer wider to see this visual larger/better!)

Good news? Or, bad news? I do not own any Royal Caribbean stock. Nor, with Carnival or Norwegian. Below is the WSJ chart for Royal Caribbean during the past three years. Their peak during that period was on Jan. 13, 2020 when RCL was up at $135.05. How would you feel now if you had "invested" in RCL when they were in that $100-135 range? Clearly, hopefully, Royal Caribbean stock will go back up. But, when and by how much? Will it ever be over $100 a share with all of the existing debt and added stock shares floated? On Nov. 8, 2021, RCL stock did briefly climb to $98.27. THANKS! Enjoy! Terry in Ohio From the Wall Street Journal, below is their chart for the stock values of Royal Caribbean during the past three years. Quite an interesting ride?: (Open your screen/viewer wider to see this visual larger/better!)

But, why won't my banks allow me to borrow for a new home or car without any need to have normally-required security back-up?? A good deal for Silversea/Royal Caribbean, but not exactly what most normal business and people are able to do? THANKS! Enjoy! Terry in Ohio

As cruise lines seek to get back to "normal", all is not happening easily and smoothly. Also for the "luxury" segment in which Silversea competes, there is growing competition, including with Crystal trying to have a re-birth and MSC starting its new, high-end Explore brand. But what about the Ritz-Carlton brand that has not previously done cruising, but has a well-known name? From a below-linked trade publication yesterday, they had this headline: “Ritz-Carlton Reschedules Inaugural Cruise Again” with these highlights: “The Ritz-Carlton Yacht Collection today announced that it will reschedule its inaugural voyage due to ongoing global supply chain challenges and the unprecedented delay in receiving certain compulsory materials necessary for the final stage of finishing, according to a statement. The Evrima, the first yacht from Ritz-Carlton, will now set sail on October 15, 2022 from Barcelona. The cruise brand originally intended to enter service in 2019.” Not sure as a potential customer, that I would trust Ritz-Carlton for any cruises until they are actually up and operating, plus having had many months of proven performance. Am I too doubtful and lacking confidence? Full story at: https://www.cruiseindustrynews.com/cruise-news/27992-ritz-carlton-reschedules-inaugural-cruise-again.html THANKS! Enjoy! Terry in Ohio Venice: Loving It & Why??!! Is one of your future desires or past favorites? See these many visual samples for its great history and architecture. This posting is now at 97,171 views. http://boards.cruisecritic.com/showthread.php?t=1278226

From the Wall Street Journal late this afternoon, below are the stock value charts for the three major cruise lines. All moved in an upward, positive direction this week. Early on Monday, Royal Caribbean was down to $34.56, but then moved up to $40.81 by mid-morning on Friday. That is going up $6.25 or a jump of 18% in less than five days. Nice increase? But, what will happen next week? And, as we move into September and October? THANKS! Enjoy! Terry in Ohio Barcelona/Med: June 2011, with stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Great visuals with key highlights, tips, etc. Live/blog now at 255,116 views. www.boards.cruisecritic.com/showthread.php?t=1426474 From the Wall Street Journal, here are the charts for the three major cruise line companies stock performance during the past week. Mostly positive and upward?.: (Open your screen/viewer wider to see these visuals larger/better!) For a little different look at RCL, below is how their stock has moved since Jan. 1, 2022. The trend? Most downward?:

Yes, those economic numbers came out this morning and most sources, including FOX News and Wall Street Journal, viewed these numbers as positive for a potential more "soft landing" as our economy seeks to avoid too deep of a recession. .Maybe good news for the cruise industry as they seek to recover in a continued, positive manner??? From the Wall Street Journal this morning, they had this headline: “Strong Hiring in July Added 528,000 Jobs to Economy" with this sub-headline: "Jobless rate of 3.5% matches half-century low seen just before pandemic.” Here are some reporting highlights: “The unemployment rate also dropped to 3.5%, a half-century low also seen just before the pandemic in early 2020, the Labor Department said Friday. The acceleration follows a first half of the year during which payrolls grew faster than during any other post-World War II period when the economy began contracting. The labor-force participation rate—or the share of adults working or seeking a job—ticked down to 62.1% in July from 62.2% a month earlier. Industries vulnerable to the Federal Reserve’s interest-rate increases also performed well in July. Construction firms, manufacturers and finance companies all added to payrolls.” Is good news a true positive? But, the stock market was mildly down this morning with this news. Full story at: https://www.wsj.com/articles/july-jobs-report-unemployment-rate-economy-growth-2022-11659646690?mod=hp_lead_pos1 THANKS! Enjoy! Terry in Ohio Early 2020, many visuals and details from New Zealand/South Pacific in going from Auckland to French Polynesia. This includes Bora Bora, Fiji, NZ experiences, etc: Live/blog; https://boards.cruisecritic.com/topic/2735732-live-terryohio-“new”-regatta-south-pacificnz-pix’s/

From the London/UK Daily Mail yesterday, they had this headline: “Portugal's starry coast: Royalty of every kind has long been drawn to Estoril - and now it’s more glam than ever ” with these highlights about this coastal area near Lisbon: “Once a summer retreat for Portuguese royals, by the 1930s the Costa do Sol — as the area around Estoril and neighbouring Cascais is called — had become a serious rival to the Cote d’Azur. The glitterati had drifted away by the 1970s, but now the coast is making a comeback.” In June 2017 prior to our cruise up the Atlantic coast from Lisbon, we visited and very much enjoyed the former fishing village of Cascais. Charming and very interesting!! This profile details this area's connections with James Bond creator/writer Ian Fleming and the 007 history from here that inspired this writer and the later, famed movies. Nice to know more about the history here from World War II, the spies and Royals once based at this scenic site, etc. Full story at: https://www.dailymail.co.uk/travel/escape/article-11076287/Portugals-starry-coast-Exploring-glamorous-Estoril-Cristiano-Ronaldo-building-house.html THANKS! Enjoy! Terry in Ohio From late 2018, see “Holy Lands, Egypt, Jordan, Oman, Dubai, Greece, etc.”, with many visuals, details and ideas for the historic and scenic Middle East. Now at 21,103 views. Connect at: www.boards.cruisecritic.com/topic/2607054-livenautica-greece-holy-lands-egypt-dubai-terrypix’s/ Below are a couple of my visuals from our 2017 visit to Cascais and nearby. Lovely small beach there in Cascais with its nearby charming architecture and in such a scenic location. The Palacio Hotel was where Ian Fleming, creator of the James Bond series, stayed in 1941 while working for Britain’s Naval Intelligence Division and chasing a double-agent that inspired his James Bond character.: (Open your screen/viewer wider to see these visuals larger/better!)

From MSN News and a financial publication earlier this week, they had this headline: “Royal Caribbean Cruise Line Adds Daring New Ship” with these details/specifics about Silversea's acquisition of the former Crystal Endeavour: "Somewhat unexpectedly, Royal Caribbean has added a new ship to the Silversea fleet. CEO Jason Liberty explained why the purchase made sense. 'Financially, it was a unique opportunity to acquire a brand-new, high-quality expedition vessel significantly below the building costs and that is fully financed through an attractive, long-term unsecuredfinancing arrangement,' he explained. 'We expect this transaction to be immediately accretive to earnings, cash flow, and [return on investment capital].' ” Interesting details about how Royal Caribbean has been able to finance this "new" Silversea expedition ship with fairly cheap, unsecured, easy financing. Reactions? These comments/background from Jason Liberty came during last week's second quarter financial review about RCL with stock market analysts. Full story at: https://www.msn.com/en-us/travel/news/royal-caribbean-cruise-line-adds-daring-new-ship/ar-AA10efFC 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 238,118 views. www.boards.cruisecritic.com/showthread.php?t=1974139

Great above sharing and follow-up by R&T about the S&P500. From my limited experience, that indicator is a good, solid overall indicator. Below from the Wall Street Journal is their chart for the stock market during the past Covid had its impact in March 2020 and there has been general recovery since that point. But, where for the future? Why the struggles of the market to rise up during the past seven to eight months? Does Wall Street know what is coming with the looming economic downturn? Or, what is called a recession? From MSN News and a financial publication earlier this week, they had this headline: “Royal Caribbean Cruise Line Adds Daring New Ship” with these details/specifics about Silversea's acquisition of the former Crystal Endeavour: "Somewhat unexpectedly, Royal Caribbean has added a new ship to the Silversea fleet. CEO Jason Liberty explained why the purchase made sense. 'Financially, it was a unique opportunity to acquire a brand-new, high-quality expedition vessel significantly below the building costs and that is fully financed through an attractive, long-term unsecured financing arrangement,' he explained. 'We expect this transaction to be immediately accretive to earnings, cash flow, and [return on investment capital].' ” Interesting details about how Royal Caribbean has been able to finance this "new" Silversea expedition ship with fairly cheap, unsecured, easy financing. Reactions? Full story at: https://www.msn.com/en-us/travel/news/royal-caribbean-cruise-line-adds-daring-new-ship/ar-AA10efFC THANKS! Enjoy! Terry in Ohio Summer 2019 Calgary, Jasper/Banff National Parks, Western Canada Rocky Mountaineer rail adventure, Vancouver, sailing up to Alaska on Silver Muse, post-cruise excursion to Denali, etc. Many visuals and details from our first in these scenic areas! Live/blog: https://boards.cruisecritic.com/topic/2682584-live-terryohio-silver-muse-alaska-canadarockies-pix’s/ From the Wall Street Journal, here is their historic chart for the S&P500 movements during the past three years. Recovery, but, but, things have stalled in the past seven to eight months. Right?: (Open your screen/viewer wider to see this visual larger/better!)

Super appreciate these posting and details from highplanesdrifters about your upcoming Norway, etc., adventure. Sure glad you are sharing wonderful and interesting visuals. Keep it coming!! Will be following along Agree strongly with ChicagoAlli that Oslo's Vigeland Park is totally awesome. Visited there in 2008 and loved it all. Much to see and do in and around Oslo. Look forward to lots of details and visuals from this Seabourn ship. THANKS! Enjoy! Terry in Ohio Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,710 views. www.boards.cruisecritic.com/showthread.php?t=1227923

Looking for a major, potentially-positive story that could reflect that the travel/tourism economy is roaring back to some form of 2019 "normal"? See below!! A good sign and predictor for the cruise industry? From the Wall Street Journal this morning, they had this headline: “Las Vegas Casinos Boom Despite Fears of a U.S. Bust" with this sub-headline: "MGM Resorts, Caesars say travelers are flocking to the Strip.” Here are a few of their story highlights: “Despite inflation at a four-decade high, and jitters over a looming recession, people are flocking to the entertainment and gambling oasis. Executives with Caesars and MGM Resorts this week reported record-high performances for their Las Vegas properties in the latest quarter. Older consumers are returning to the Strip, shaking off pandemic concerns. International travelers began coming back in recent weeks and the convention calendar looking ahead is getting busier, executives said. A rush of pent-up travel demand that brought Las Vegas back over the past year is continuing." Full story at: https://www.wsj.com/articles/las-vegas-casinos-boom-despite-fears-of-a-u-s-bust-11659618000?mod=hp_lead_pos12 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 238,118 views. www.boards.cruisecritic.com/showthread.php?t=1974139

Appreciate these testing details and follow-up from our Ohio neighbors, Sue and Lee, in Cincinnati. Very helpful!! For highplanesdrifters, glad you have made it safely to Oslo. Will try to check in on the Seabourn CC website to learn more as to how this adventure progresses. Keep posting and sharing. THANKS! Enjoy! Terry in Ohio Barcelona/Med: June 2011, with stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Great visuals with key highlights, tips, etc. Live/blog now at 255,116 views. www.boards.cruisecritic.com/showthread.php?t=1426474

Per the above comment, maybe, as folks look at what Royal Caribbean has done with their latest billion-dollar plus move, these experts do not view it as too dilutive? Could be? Or, not? From the Wall Street Journal below you can see that the "rocky: stock value ride for Royal Caribbean has had quite a "roller coaster" ride during the past three days. Wow!! After these wild first three days of August, what will happen with RCL stock during the rest of this summer month? And as the consumer and stock market move into September and October as the potential recession worries/realities become more in focus? Any guesses or speculation? THANKS! Enjoy! Terry in Ohio From late 2018, see “Holy Lands, Egypt, Jordan, Oman, Dubai, Greece, etc.”, with many visuals, details and ideas for the historic and scenic Middle East. Now at 21,103 views. Connect at: www.boards.cruisecritic.com/topic/2607054-livenautica-greece-holy-lands-egypt-dubai-terrypix’s/ From the Wall Street Journal, this charts reflects how super "rocky" were things were for their stock value in the three days after details were shared on their latest financial move.: (Open your screen/viewer wider to see this visual larger/better!)

From last Thursday's second quarter 2022 report/briefing by the Royal Caribbean CEO, CFO, etc., I had a chance today to listen to the full audio of their various comments. I made a number of notes as I listened. In their opening comments, there was a strong emphasis as to needing to refinance debt, up their margins, increase their load factors, continue on recovery, etc.. They stressed upbeat "spins" (and some truth) about having positive cash-flow, getting the full fleet back in operations, bookings increasing, etc. Most of the hour was, directly or indirectly, about finances and related issues. As they shifted into the part where questions come from financial experts from major Wall Street firms, there was some concern about the overall market place and economy. This includes for the $5 billion in 2023 debt coming due that is facing Royal Caribbean and how to re-finance without watering down equity/stock value. They were trying to answer various questions by citing the increase in demand they have experienced through recent bookings. Overall, they acknowledged there is a challenge in managing liquidity. They do not plan to issue any new stock. “We have a plan and path” was one of the comments from RCL CEO Jason Liberty. He and his officials strongly stressed the value of a cruise vacation versus the costs in doing land-based travel. Another key statement was that they "expect 2023 to be a normal operating year.” From a UBS analyst, there was a question as to how soon Royal Caribbean will remove testing on longer cruises. But no specific answer came on that complicated question. There was a question raised as to Europe and the impacts they are expecting for 2023. RCL indicated that they saw a 9-10% lift in future bookings once the CDC testing requirements was lifted. As to the "realities" for how the cruise business will fare versus what Wal-Mart now sees for shrinking/shifting consumer spending due to the coming and/or current recession, RCL views it as a shifting of spending priorities by consumers. RCL sees a much high demand for ‘EXPERIENCES”. They view and hope consumers will stress focus on “experiences that consumer are seeking versus things”. On the question of whether cruise lines will need to do elevated discounting, there was some "dancing" but they admitted they are doing more "packaging." That makes it harder to measure and compare how much pricing cutting is or will be need to be done. Overall, they came back several times to view cruising as still a very good value proposition. They cited their new-build ships as much more fuel efficient. There were discussions as to how they are reaching new-to-cruising passengers and this market segment as being back to pre-covid levels. They either ignored and/or do not view the inflation factor as being a major negative impact on their future recovery plans. They are ramping up marketing costs/efforts and noted how the consumer has changed in recent years. This includes how customers are doing much more research and bookings on the webf and that RCL has upgraded their technology to accomodate this market shift. They have shifted a number of their cruise options to reflect a customer desire to travel more regionally, closer to home, within port driving distance, etc. On the coming recession, they stated near the end of the discussion “we don’t see any of this in our day-to-day business." Sorry for the rambling nature of these various notes and comments, but hopefully it offers "flavor and color" for how these top RCL officials last week discussed their future business projections and hopes. If you would like to listen to the full hour-plus presentation, you can use this link: https://www.rclinvestor.com/webcasts-presentations/ Questions, comments, reactions? THANKS! Enjoy! Terry in Ohio Panama Canal? Early 2017, Fort Lauderdale to San Francisco adventure through Panama Canal. Our first stops in Colombia, Central America and Mexico, plus added time in the great Golden Gate City. Now at 31,456 views. http://boards.cruisecritic.com/showthread.php?t=2465580

Yes, the details do mater much. See more below. Appreciate these follow-ups and added insights. From a financial website this morning, they had this headline: “Royal Caribbean Stock Drops After $1 Billion Convertible Note Offering” with these highlight details: “In connection with this offering, the company stated that it will also give the initial purchases of the notes the option to buy another $135 million in principal. However, just this morning, the company stated that it upsized the offering to $1 billion while it also established the interest rate for the notes at 6%. The option granted to initial investors was also increased to $150 million and the conversion factor for the notes was established. Note holders can convert their notes into 19.9577 RCL shares for every $1,000 invested resulting in an initial conversion price of $50.11. This represents a 40% premium over yesterday’s closing price.” If I was a RCL stockholder, it seems that this offering tends to dilute down the current stock value. Maybe? Maybe not? Here is another comment from their financial analysis: "For investors, the fact that the company was forced to increase the interest rate paid on its convertible notes to entice investors indicates that Royal Caribbean’s financial expenditures will rise significantly in the future." Full story at: https://www.business2community.com/stock-news/royal-caribbean-stock-drops-after-1-billion-convertible-note-offering-02530947 THANKS! Enjoy! Terry in Ohio Lisbon, NWSpain, Bordeaux/Brittany: Live/blog, June 2017 from Portugal to France along scenic Atlantic Coast on the Silver Spirit. Now at 32,475 views. Many pictures, details for history, food, culture, etc.: www.boards.cruisecritic.com/showthread.php?t=2511358

This morning we are learning a little more details on this latest Royal Caribbean cash/re-finance move. From a company PR press release and Yahoo News late yesterday evening, they had this headline: “Royal Caribbean Group announces pricing and upsizing of $1 billion senior convertible notes offering” with these highlights: “Royal Caribbean today announced that it has priced the offering of $1 billion aggregate principal amount of 6.00% Convertible Senior Notes due 2025. In connection with the offering of the Convertible Notes, the Company granted certain of the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional $150 million aggregate principal amount of the Convertible Notes.” Here is more: "The Company intends to use the proceeds from the sale of the Convertible Notes to repurchase $350 million aggregate principal amount of its 2.875% convertible senior notes due November 15, 2023 and $800 million aggregate principal amount of its 4.25% convertible senior notes due June 15, 2023 in privately negotiated transactions. The Company intends to retire the Existing Convertible Notes so purchased. The Convertible Notes are being offered only to persons reasonably believed to be qualified institutional buyers." Mo Money! Mo Money! It seems that this will cost Royal Caribbean more as they know the currently higher/rising interest rates are not a "temporary" situation. Right or wrong? Towards the later parts of this corporate release, RCL lists many of RISKS associated with the cruise industry these days. This includes items such as the war in the Ukraine, economic changes, government health orders, shipyard construction challenges, cyber security attacks, ship delivery delays, data breaches, etc. SEC rules require such listing of the many danger for those loaning these additional millions of dollars. Are you reaching for your check book to invest and roll the dice? Full story at: https://finance.yahoo.com/news/royal-caribbean-group-announces-pricing-020200214.html THANKS! Enjoy! Terry in Ohio Athens & Greece: Visuals, details from two visits in a city and nearby with great history, culture and architecture. Now at 46,174 views. http://boards.cruisecritic.com/showthread.php?t=1101008

Great question and follow-up as to if and how this is a "private placement" for this nearly billion dollar re-finance effort. From the respected Bloomberg News and Yahoo News later this morning, they had this headline: “Royal Caribbean Shares Plunge After $900 Million Note Offering.” Here are a few of their reporting highlights: “Shares of Royal Caribbean Cruises Ltd. are down 10% Monday after the company launched a private offering for as much as $900 million in senior convertible notes to be used to buy back existing debt. News of the offering sent peers Carnival Corp. and Norwegian Cruise Line Holding Ltd. lower as well. Royal Caribbean doesn’t have much of a choice. The company is 'in most urgent need' of additional equity if it can’t raise debt, Alex Brignall of Redburn told clients after Carnival’s stock offering announcement.” Nothing in this story gives added details and specific pricing. Clearly, RCL is both in need of more money and now is not the ideal time to be seeking cheap, added cash-flow. As of 3:20 pm ET Monday, RCL was down 9.00% to $35.175. Full story at: https://finance.yahoo.com/news/royal-caribbean-shares-plunge-900-142716486.html THANKS! Enjoy! Terry in Ohio Dubrovnik! Visual samples, tips, details, etc., for this super scenic and historic location. Over 48,918 views. http://boards.cruisecritic.com/showthread.php?t=1439227

Good luck with your Norway's Svalbard archipelago adventure through Seabourn. Look forward to any and all details as to exploring that part of the work. Plus, insights as to how Seabourn is performing these days. We have done much in Norway, but have not made to that specific, scenic location. Sounds exciting!! Appreciate these great comments and follow-up about the supposed not-happening recision. That is truly a dishonest "TALE" of wishful fiction that everybody knows is phony. Sadly, it is coming and most have been and will continue to feel the economic mismanagement that has been happening over the past decade by the Fed and others in government. Starting in and around 2012, the Feds should have been slowly upping interest rates to protect from what is hitting now economically. Free money and low interest rates always seem "nice" at the time, but ultimately you pay a price for such in-action. Right? . THANKS! Enjoy! Terry in Ohio Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 244,710 views. www.boards.cruisecritic.com/showthread.php?t=1227923

In early morning trading on Wall Street, Royal Caribbean's stock had dropped 8.6% as of 9:55 am Monday. Both Carnival and Norwegian were down, also, but not by that high of a level. I assume this RCL drop was driven by the announced re-financing move by the money folks at Royal Caribbean. THANKS! Enjoy! Terry in Ohio

Agree above with Lois as to the many wonderful ports and stops for this cruise. Look forward to any and all posts on this ship, the staff, food, etc. Keep it coming!! THANKS! Enjoy! Terry in Ohio

Appreciate very much this great follow-up as to how things worked at the Toronto main airport. Good news!!?? Hope things continue to be improving with the air flight challenges. Keep it coming with any and all suggestion and experiences from being in Nova Scotia, New Brunswick, Prince Edward Island, Cape Briton, etc. Looking forward to our first visit to the Eastern Canada Provinces. From a key trade publican yesterday, they had this headline: “Silversea Has Added Six New Ships in Three Years” with these highlights: "Undergoing a new phase in its history, the Silversea Cruises fleet is seeing unprecedent growth. With the recent acquisition of the former Crystal Endeavor, the ultra-luxury brand will have added a total of six new vessels between 2021 and 2024. Marking Silversea’s return to service, the Silver Moon launched service in June 2021. The Silver Origin entered service for Silversea in June 2021, becoming the brand’s first purpose-built expedition newbuild.” Plus, the Silver Dawn in April 2022. With all of the "distractions" caused by Covid, we kind of forget how many new ships are or will be added to the Silversea fleet. Coming soon will be the Silver Nova in 2023, a 728-passenger ship being built by Meyer Werft. It will be Silversea'’s first LNG-powered hybrid ship. A second Nova-class ship is on-order and will follow Silver Nova in the second quarter of 2024. Busy future schedule? Exciting? What will all of this new capacity due for pricing, staffing, quality, etc? Having the deeper financial pockets of Royal Caribbean has certain helped expand and fund Silversea's ambitious future expansion efforts. Right or wrong? How will it all work out longer-term, especially as new luxury lines such as Ritz-Carlton and Explora are ramping up? It will not be the "same-old, same-old" during the next few years for Silversea!! Full story at: https://www.cruiseindustrynews.com/cruise-news/27903-silversea-has-added-six-new-ships-in-three-years.html THANKS! Enjoy! Terry in Ohio Athens & Greece: Visuals, details from two visits in a city and nearby with great history, culture and architecture. Now at 46,174 views. http://boards.cruisecritic.com/showthread.php?t=1101008

Very good question and follow-up about the customer deposit balances for these other two cruise companies. My guess? One of the financial analysits/experts normally asks that type of question during the quarterly review with the top cruise company officials. If you are the CEO and/or CFO, you do not want to appear "dumb" by just claiming "I don't know!". Those kind of questions always come up because it is an important cash-flow factor that the Wall Street analysts seek to know and understand. From a cruise industry trade publication this morning, they had this headline: “Royal Caribbean Group Raising $900 Million to Refinance Debt” with these highlights: “Royal Caribbean announced on Monday that it has commenced a private offering of senior convertible notes to be issued by the company due 2025 in an aggregate principal amount of up to $900 million. 'The purpose of the offering is to replace some of the existing near-term maturities of convertible bonds with new longer-term convertible bonds,' said Naftali Holtz, Chief Financial Officer. The cruise company said it intends to use the proceeds from the sale of the Convertible Notes to repurchase a portion of its 2.875% convertible senior notes due November 15, 2023 and 4.25% convertible senior notes due June 15, 2023.” Refinancing debt? Yes, that will be a key "tool" as the cruise lines work to "dig out" of their tangled pile of debt and twisted path during the long recovery process. And as interest rates keep rising, they need to manage these various fiscal challenges. Am I missing something important or a different series of factors? Full story at: https://www.cruiseindustrynews.com/cruise-news/27967-royal-caribbean-group-raising-900-million-to-refinance-debt.html THANKS! Enjoy! Terry in Ohio Kotor/Montenegro: Various visual samples, tips, details, etc., for this scenic, historic location. Over 49,448 views. http://boards.cruisecritic.com/showthread.php?t=1439193

Appreciate these follow-ups. Yes, we all want to save Venice and such a totally wonderful historical location. BUT, as the article below notes, there is debate as to how it is done and at to what costs/impacts are associated with the desired/hoped solutions. From National Geographic magazine a week ago, they had this headline: “Saving Venice from flooding may destroy the ecosystem that sustains it" with this sub-headline: "A system of moveable walls, called Moses, protects Venice from colossal high tides that are worsening with climate change. But they’re also destroying the marshes that keep the lagoon alive." Here are a few of their reporting highlights in this story by Frank Vivano: "The occasional destructive acqua alta, which occurred just a few times per century before 2000, has become the new normal as sea levels rise around the globe. Of the 25 worst acque alte registered in Venice in the past 100 years, each topping 4.5 feet, more than half have happened since December 2009. That has prompted Venetian officials to spend billions on a series of moveable walls to block high waters from the city." BUT, there is more: “The audacious engineering experiment is a last-ditch effort to stave off a final disaster for one of the world’s most beautiful and fragile cities. But it poses fatal environmental risks to the lagoon’s equally fragile and disappearing salt marshes, whose protective structure and biodiversity have been giving life to Venice for 1,800 years.” Interesting highly-detailed engineering aspects are shared in this lengthy article with many visuals. The goal is good, however, there are other environmental factors to consider. Right or wrong? What are the highest and best priorities for what to save and how? At whose expense? Full story at: https://www.nationalgeographic.com/environment/article/saving-venice-from-flooding-may-destroy-the-ecosystem-that-sustains-it THANKS! Enjoy! Terry in Ohio Barcelona/Med: June 2011, with stops in Villefranche, ports near Pisa and Rome, Naples, Kotor, Venice and Dubrovnik. Great visuals with key highlights, tips, etc. Live/blog now at 255,116 views. www.boards.cruisecritic.com/showthread.php?t=1426474