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Steve Q

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About Steve Q

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  1. This is an editorial piece, not an news article. It is the author’s opinion. You can either choose to agree or disagree. We each are free to decide for ourselves. Here is another interesting article about the fate of numerous crew members still remaining on ships. It is really a sad situation. https://apple.news/ATq1ZbKTkRGW-Q435DNpjMA
  2. The Oxford vaccine, if successful, will be manufactured by AstraZeneca. They are a large global pharmaceutical company. Thus, if approved in the US, it should be widely available. They have a very large production capacity so shortages should disappear over time.
  3. This is very good news. We were really looking forward to our first Regent cruise this month. While we were very disappointed, we will definitely try again when cruising returns.
  4. Totally agree. An Offer was made and was later accepted. There is really no dispute here.
  5. I was watching CNBC a short while ago. The reporter stated (I am paraphrasing) that there is a $400 million dollar commitment on the table from L Catterton. Those funds, however, will only be available if Norwegian can get a commitment of another billion dollars from other investors. They had no comment about the likelihood of such an additional investment.
  6. Sadly, I don’t think that what we would like is going to matter. The first cruises out of the gate will be considered the test, like it or not. It is unlikely that the countries the ships visit are going to admit Regent ships and not Silversea, Seabourn, etc. In the publics’ eye, all will be tarnished. We may not like it, but that is what will occur. Only people on CruiseCritic will know, or care, that some lines have avoided the virus.
  7. One real consequence of Carnival’s beginning so soon is that the results turn out negatively. If people on several ships once again develop the virus, the ramifications for future cruises on any line could face a serious setback. Conversely, if the limited cruises are successful, it would be a huge positive for the entire industry.
  8. In one way you would think that one of the luxury lines might be first since they have more space per passenger. On the other hand, Carnival probably attracts a much younger demographic that appears to be less impacted by the virus. I guess Carnival’s announcement answers that question.
  9. Looks like Carnival is resuming on August 1! https://www.carnivalcorp.com/news-releases/news-release-details/carnival-cruise-line-announces-plan-phase-service
  10. Looks like Carnival is beginning August 1! https://www.carnivalcorp.com/news-releases/news-release-details/carnival-cruise-line-announces-plan-phase-service
  11. Excellent post. I wonder how many of our fellow CC posters are deciding to make the final payment for an upcoming cruise and how many are cancelling. Also, how many are putting deposits on future cruises. That, I suspect, is the determining factor in where we really stand on the solvency Norwegian.
  12. Just read the article referenced in Baron’s. The writer is a regular staff writer who has always seemed credible to me. Unfortunately, he does not paint a very optimistic picture absent some new capital. In addition, no one has any idea when sailings will resume. If there is once again a serious return of the virus in the fall and winter months, I can only presume that the cruise lines will be forced to curtail sailings. I mentioned in a previous post that our first Regent cruise on May 22 was cancelled yesterday. After a great deal of thought, we have requested a refund through our travel agent. Others may choose the cruise credit option, but we just did not feel comfortable with that.
  13. Absent a bankruptcy filing, any acquirer of Norwegian would also assume all of its liabilities. Thus the capital infusion would be a net positive if your funds were being held by the company. If you are a shareholder, in theory your ownership would be diluted. That said, it is possible that any Private Equity firm could impose changes that might make the shares more valuable. It is a big unknown. I think it is fairly safe to say that new capital is going to be required. It is just a matter of its source.
  14. The one thing that appears to be certain is that Norwegian is going to raise capital. They could try the Debt markets, but Carnival recently had to pay almost 11% to access those markets. In today’s low interest environment, that tells you all you need to know about their financial condition. That was in addition to having to sell part of the company. I cannot imagine that Norwegian is in any better condition. It just does not seem feasible that they can remain exactly in their present condition without making significant changes. Time will tell.
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