Antarctica cruise this winter: what would YOU do?

[cruiseej]

We're booked with another couple on an Antarctica cruise this December 19: the 18-day holiday sailing that goes to South Georgia Island on the (theoretically) renovated Silver Wind. At nearly $50k, it's by far the most expensive cruise we've ever taken and an expensive splurge for us -- but after doing an expedition cruise to Greenland on the Silver Cloud a year ago, a trip we can't wait to do. We've prepaid in full to receive the 10% booking savings; we haven't yet paid the expensive trip insurance. 

 

I know the news is changing daily, and it's difficult to look one month into the future with much certainty, let alone eight months. I'm curious which of these options you would do right now:

 

(1) Sit tight to see how things in the world develop between now and mid-August. We should be able to cancel by August 19 (120 days out) and get our money back in full (less the $200 administrative fee). Assuming Silversea hasn't gone bankrupt by then!

 

(2) Get our travel agent to rebook us on the exact same trip in December 2021-January 2022. It's the same 18 days, same itinerary, and remarkably appears to be roughly the same cost as what we paid for this year's cruise. We'd wait a year, but have the peace of mind of waiting to cruise until after the world (hopefully) gets inoculated from this virus. Assuming all is well with Silversea 18 months from now. 

 

(3) Bail out of this cruise today, get in line to get our cash back now, and try to avoid the possibility of the cruise line filing for bankruptcy/reorganization which could cost us flexibility in rescheduling -- or our entire pot of gold. Wait to to book a cruise once the world is spinning normally again.

 

Thanks in advance for your thoughts.

[Stumblefoot]

My 2-cents:  I would do 1 as I see no benefit to #2 at this time (peace of mind is no different between 1 and 2 at this time).  And, #3 is a false premise because in a bankruptcy reorganization it’s the creditors who are wiped out, not the passengers.  The only way a passenger gets wiped out would be if the line was to liquidate.

[cruiseej]

The potential benefits I can think of to #2 over #1: (a) peace of mind of not having to monitor every tweak and change from the cruise line over the months ahead; (b) the likelihood that we'll want to cancel by August anyway since there probably won't be a safe wya to travel by then; and (c) with all the people taking FCCs and pent up demand for cruising, the odds that good staterooms for the rare South Georgia Island itinerary for 2021 will be booked by August. 

[jland]

I would do number 3. A bird in the hand has always been worth two in the bush. Get your money back while you still can. Once things get back to normal you can decide what to do. $50k is a huge amount to gamble on a company staying solvent. Having said that we really love Silversea, and really hope they do not go bankrupt but who knows.

[Alturia]

9 hours ago, Stumblefoot said:

My 2-cents:  I would do 1 as I see no benefit to #2 at this time (peace of mind is no different between 1 and 2 at this time).  And, #3 is a false premise because in a bankruptcy reorganization it’s the creditors who are wiped out, not the passengers.  The only way a passenger gets wiped out would be if the line was to liquidate.

Stumblefoot - doesn't that depend on the type of bankruptcy? If the company ceases operation because of bankruptcy then passengers will become creditors and have to get in line for their money won't they?

[Kallaway]

I don't know if this will help you but this is how we're protecting ourselves. We're booked on the Dec 11 Antarctica cruise. We paid the deposit when SS were offering full cash refund (minus $200) up to 30 days before the trip. I have since spoken to my TA (and confirmed this with his manager) and we are grandfathered in to that refund policy instead of the new one as our 30 day refund policy is written into our confirmation. I've also purchased travel insurance (with AXA) which covers insolvency/bankruptcy. I have confirmed with them that insolvency/bankruptcy due to the events surrounding the coronavirus are still covered.

[brimary]

7 hours ago, jland said:

I would do number 3. A bird in the hand has always been worth two in the bush. Get your money back while you still can. Once things get back to normal you can decide what to do. $50k is a huge amount to gamble on a company staying solvent. Having said that we really love Silversea, and really hope they do not go bankrupt but who knows.

Agree with everything you say in these uncertain circumstances.50k is a massive gamble,take the money and rebook when the cruise world returns to normality if it ever does..we love Silversea and hope they come through the crisis for all concerned especially their excellent crew.

[Stumblefoot]

7 hours ago, Alturia said:

Stumblefoot - doesn't that depend on the type of bankruptcy? If the company ceases operation because of bankruptcy then passengers will become creditors and have to get in line for their money won't they?

 

That's why I used the term "liquidate" in my response as "ceases operation" isn't a legal term. 

A company can cease to operate while they "reorganize" their debts and passengers would not be wiped out because the creditors, i.e. bond holders, want the company to retain those passengers and their revenue.  Now, in most cases, a company that seeks to "reorganize" their debts doesn't cease to operate. 

On the other hand, if the company ceases operation for the express purpose of "liquidating" their assets, then yes, passengers are wiped out and get in line with all of the other creditors.

[carefreecruise]

Will be on the same cruise. Hope you make it... 

[cruiseej]

8 hours ago, carefreecruise said:

Will be on the same cruise. Hope you make it... 

 

I hope we all make it!

 

So you're hanging in and staying put for now?

[carefreecruise]

15 hours ago, cruiseej said:

 

I hope we all make it!

 

So you're hanging in and staying put for now?

Already prepaid a pre-excursion to Easter Island after two attempts prior. Sure would like to make it there eventually. We also have three more cruises booked prior, starting in June. So we are watching the June one closely. Whatever happens to our June exploration will give me a good idea on how the rest will go through this year. 

[Stumblefoot]

7 minutes ago, carefreecruise said:

Already prepaid a pre-excursion to Easter Island after two attempts prior. Sure would like to make it there eventually.

I feel your pain.  We suffered a similar fate at a different destination.  Finally gave up.