Oil's been over $65 is Celebrity doing surcharge?

[readytocruise2009]

Oil has been over $65 is Celebrity doing the $10 a day surcharge? Thanks

[omeinv]

No, at least not yet.

 

Oil was just over $65, on the date in June that is listed as the determining date for the third quarter. I believe the next date is Sept. 18th or 19th, for the fourth quarter.

 

Clearly with oil barely over the level, and the various Carnival lines not imposing the charge, they're not anxious to do so.

 

Also, one presumes both companies took advantage of the fairly significant drop in oil prices to hedge in supplies.

 

Finally, since both companies have been fairly successful at keeping bookings, I'm sure they'd prefer not to incur the negative press that imposition of the surcharges would bring.

 

All of the above being said, the website makes it absolutely clear that if they find it necessary, surcharges would be applied to all bookings. Half the problem last time was issue regarding paid-in-full, versus only booked and deposited bookings; and the argument that passengers weren't aware. This time no one will be able to claim they weren't warned. Hopefully, the price will settle back down a little, and the problem won't be an issue.

 

Harris

Denver, CO

[Gonzo70]

It is nearly certain they will not reinstate fuel surcharges in 2009.

[JanineM]

They have the option of reinstating a surcharge ... but there is more involved than just the price of crude.

 

Cruiselines, like other large users of oil, will purchase futures contracts where they lock in a specific price for a period of time. I suspect that they've got contracts out for the next several months so they won't need to charge us all a surcharge. Let's cross our fingers that the price of oil holds steady for awhile!

[curtdesilets]

The demand from India, China and the rest of the developing world and OPEC's desire to curb production most definitely means a spike again to triple digits. Celebrity is "reserving the right" to impose the fee, and I feel that it's a matter of who blinks first. If oil stays above $100 for an appreciable amount of time, they will all blink;)

[Gonzo70]

The demand from India, China and the rest of the developing world and OPEC's desire to curb production most definitely means a spike again to triple digits. Celebrity is "reserving the right" to impose the fee, and I feel that it's a matter of who blinks first. If oil stays above $100 for an appreciable amount of time, they will all blink;)

 

Possibly. It certainly will climb over $100 again at some point, but if that is "soon" depends on how fast the U.S. and global economies become strong again as well as some other factors.

 

OPEC cutting production actually puts a ceiling on how high oil can go. OPEC would have to actually be increasing production for oil to likely climb over $100. The reason oil went so high, so fast last year was not because OPEC was making cuts (they were increasing production often - but oil just kept climbing). The reason was because of concerns about peak oil; people feared that demand was going to exceed supply so oil became an extremely valuable commodity as people were expecting it to become relatively scarce with regards to demand.

 

Although the recession has led to many negative consequences, there ahs been some positive news. Demand for oil is now well below supply and likely will take some time to overtake supply. Furthermore there is now a large surplus of oil in reserves that will take time to deplete (and therefore prevent a fast spike in prices barring a major event such as a war involving Iran). And there recent was a new discovery of a likely massive oil field in the Gulf of Mexico that also raises optimism about additional finds in that area. All these factors may help to keep oil below $100 for some time to come - though this is far from a guarantee.

[omeinv]

All these factors may help to keep oil below $100 for some time to come - though this is far from a guarantee.

 

Gonzo!!

 

I demand a guarantee!!

 

:) :)

 

 

Harris

Denver, CO

[ShareViews]

Oil has been over $65 is Celebrity doing the $10 a day surcharge? Thanks

 

Dear Friend, why worry about it now? Celebrity does need not be reminded. Sufficient unto the day is the evil thereof. Let's keep quiet and hope they don't reimpose the surcharge. On the other hand, save up the funds just in case they do.

[FinelyCruising]

Stock is up splendidly and bookings seem continued strong. Need right now to supplement income for fuel is not desperate out of unpredictability.