Is anyone else worried princess will go out of business, NOT bankrupt. (Keeping our money)

[Ombud]

6 hours ago, Steelers36 said:

Who's going to buy them?

CCL has off loaded 18 ships and sent another 2 down the food chain (Star & Golden Princess are now PO Australian ships Encounter & Adventure)

 

Ships off loaded (not transferred within CCL):
1. Costa Atlantica -> CSSC 
2. Costa Mediterranea -> CSSC 
3. Costa neoRomantica -> Celestyal Cruises Experience 
4. HAL Amsterdam -> Fred Olsen Bolette 
5. HAL Rotterdam -> Fred Olsen Borealis 
6. HAL Maasdam -> Seajets Aegan Myths 
7. HAL Veendam -> Seajets Aegean Majesty 
8. P&O Oceana -> Seajets Queen of the Oceans 
9. POAU Pacific Aria -> Seajets 
10. POAU Pacific Dawn -> Ocean Builders MS Satoshi, now scrapped by them
11. Sea Princess > Sanya Int Cruise Charming
12. Sun Princess > Peace Boat Pacific World

Scrapped: 
13. Costa Victoria 
14. Carnival Fantasy
15. Carnival Inspiration 
16. Carnival Fascination 
17. Carnival Imagination 
18.  ??

 

Older ships by delivery date:
1991: Carnival Ecstasy
1993: Carnival Sensation
1996: AIDAcara
1997: POAU Explorer 
1998: Carnival Elation, Carnival Paradise, & Grand Princess 
1999: Pacific Princess & HAL MS Volendam
2000: HAL MS Zaandam & PO Aurora 
 

[Sue from Canada]

I'm still waiting for my deposit to be refunded.  I called one number yesterday and there was no service!!!  Guess I'll try a different number on Monday.

[dog]

49 minutes ago, Ombud said:

CCL has off loaded 18 ships and sent another 2 down the food chain (Star & Golden Princess are now PO Australian ships Encounter & Adventure)

 

Ships off loaded (not transferred within CCL):
1. Costa Atlantica -> CSSC 
2. Costa Mediterranea -> CSSC 
3. Costa neoRomantica -> Celestyal Cruises Experience 
4. HAL Amsterdam -> Fred Olsen Bolette 
5. HAL Rotterdam -> Fred Olsen Borealis 
6. HAL Maasdam -> Seajets Aegan Myths 
7. HAL Veendam -> Seajets Aegean Majesty 
8. P&O Oceana -> Seajets Queen of the Oceans 
9. POAU Pacific Aria -> Seajets 
10. POAU Pacific Dawn -> Ocean Builders MS Satoshi, now scrapped by them
11. Sea Princess > Sanya Int Cruise Charming
12. Sun Princess > Peace Boat Pacific World

Scrapped: 
13. Costa Victoria 
14. Carnival Fantasy
15. Carnival Inspiration 
16. Carnival Fascination 
17. Carnival Imagination 
18.  ??

 

Older ships by delivery date:
1991: Carnival Ecstasy
1993: Carnival Sensation
1996: AIDAcara
1997: POAU Explorer 
1998: Carnival Elation, Carnival Paradise, & Grand Princess 
1999: Pacific Princess & HAL MS Volendam
2000: HAL MS Zaandam & PO Aurora 
 

Thanks

for answering this for us!  

Quite a list. 

[dog]

5 hours ago, caribill said:

 

No, in Turkey:

 

https://www.cnn.com/travel/gallery/cruise-ship-breaking-yard-aliaga-turkey/index.html

 

https://www.middleeasteye.net/news/coronavirus-turkey-cruise-ships-scrapyard-booms

Thanks for sharing links to sources re: who is buying them etc. 

[travelhound]

On 1/8/2021 at 2:18 PM, AtlantaCruiser72 said:

As Princess is a wholly owned subsidiary of Carnival Corp, and not a stand alone corporation, if Princess as a brand were to cease operations Carnival Corp would be the DIP (debtor in possession) responsible to repay consumers money. It would take complete liquidation of Carnival Corp for us as consumers to lose our monies held with Princess. 

Good point 👍

[Ombud]

1 hour ago, Sue from Canada said:

I'm still waiting for my deposit to be refunded.  I called one number yesterday and there was no service!!!  Guess I'll try a different number on Monday.

How long have you been waiting? If pre-November mass cancelation batch, you might want to try emailing csteinke@princesscruises.com or kbaldwin@princesscruises.com for a faster response. 

[Outerdog]

On 1/8/2021 at 1:32 PM, Thrak said:

Stifel just added CCL as an item to watch to go up in value. Not worried at all.

 

Where else is it gonna go?

 

[Steelers36]

3 hours ago, Ombud said:

CCL has off loaded 18 ships and sent another 2 down the food chain (Star & Golden Princess are now PO Australian ships Encounter & Adventure)

 

Ships off loaded (not transferred within CCL):
1. Costa Atlantica -> CSSC 
2. Costa Mediterranea -> CSSC 
3. Costa neoRomantica -> Celestyal Cruises Experience 
4. HAL Amsterdam -> Fred Olsen Bolette 
5. HAL Rotterdam -> Fred Olsen Borealis 
6. HAL Maasdam -> Seajets Aegan Myths 
7. HAL Veendam -> Seajets Aegean Majesty 
8. P&O Oceana -> Seajets Queen of the Oceans 
9. POAU Pacific Aria -> Seajets 
10. POAU Pacific Dawn -> Ocean Builders MS Satoshi, now scrapped by them
11. Sea Princess > Sanya Int Cruise Charming
12. Sun Princess > Peace Boat Pacific World

Scrapped: 
13. Costa Victoria 
14. Carnival Fantasy
15. Carnival Inspiration 
16. Carnival Fascination 
17. Carnival Imagination 
18.  ??

 

Older ships by delivery date:
1991: Carnival Ecstasy
1993: Carnival Sensation
1996: AIDAcara
1997: POAU Explorer 
1998: Carnival Elation, Carnival Paradise, & Grand Princess 
1999: Pacific Princess & HAL MS Volendam
2000: HAL MS Zaandam & PO Aurora 
 

That's quite the thorough research to you did, so kudos for that.  My remark earlier was somewhat tongue-in-cheek to the suggestion that Princess could sell excess ships.  With potentially all cruise lines looking to shed ships, it is a valid question as to who would buy them (at least for a reasonable ROI).  Most of your listed sails occurred in a growing cruise industry whereas today, much is unknown.

 

[ipeeinthepool]

On 1/8/2021 at 3:18 PM, AtlantaCruiser72 said:

As Princess is a wholly owned subsidiary of Carnival Corp, and not a stand alone corporation, if Princess as a brand were to cease operations Carnival Corp would be the DIP (debtor in possession) responsible to repay consumers money. It would take complete liquidation of Carnival Corp for us as consumers to lose our monies held with Princess. 

 

I'm not sure I see the difference.  I'll bet the rest of the cruise lines in the Carnival Corp are not in any financial position than Princess.  So if Princess went bankrupt I'll bet HAL, Carnival and others won't be in any better financial condition than Princess.

[nocl]

2 hours ago, Outerdog said:

 

Where else is it gonna go?

 

Considering the number of shares issued and those represented by the convertible bonds if CCl was generating the same level of profit as they were in 2019 (highly unlikely with the number of bonds issued) the current stock level would represent a similar earnings per share level.

 

You can see how the number of shares has increased here

 

https://ycharts.com/companies/CCL/shares_outstanding

 

The stock is certainly not trading on fundamentals.

Edited January 10, 2021 by nocl

[Redwing55]

I'm not worried.  I've backed that up with buying Princess "gift cards" recently.  Took advantage of the bonus along with Amex's $100 credits.  Come on 2022 and Hawaii!

Edited January 10, 2021 by Redwing55

[ipeeinthepool]

6 hours ago, Redwing55 said:

I'm not worried.  I've backed that up with buying Princess "gift cards" recently.  Took advantage of the bonus along with Amex's $100 credits.  Come on 2022 and Hawaii!

 

You're certainly a believer.  Have you also bought Redwing's season tickets?

 

Good Luck

[Redwing55]

18 hours ago, ipeeinthepool said:

 

You're certainly a believer.  Have you also bought Redwing's season tickets?

 

Good Luck

Good one! 😂 But, no.  Now if they had a discount for 21-22 season.. Hmm, I might be in.😃  $400 for $550 of credit is a pretty good tax free return.

Edited January 11, 2021 by Redwing55

[mcrcruiser]

CCL has strong cash reserves . There should be no problem as they restart in May  2021 

[Ombud]

CCL hasn't identified #18 yet and now they say #19 will also go. This article doesn't recognize all 17 out (12 sold, 5 scraped or scheduled to be scraped).

 

So now to wonder #18 & #19 

https://www.cruiseindustrynews.com/cruise-news/24180-four-more-cruise-ships-expected-to-leave-carnival-corp-fleet.html

Edited January 12, 2021 by Ombud

[Bgwest]

OP, no.

[pris993]

I don't know anything, but think this kind of discussion is meaningless.  If you are worried cancel and get your money back, if not wait and see what happens.  

[Ombud]

11 hours ago, pris993 said:

I don't know anything, but think this kind of discussion is meaningless.  If you are worried cancel and get your money back, if not wait and see what happens. 

IMHO we've drifted to answers that aren't about whether or not we will cruise again but if CCL will continue with all lines (Aida, Carnival, Costa, Cunard, HAL, especially PCL, Seaborn) so it wandered into whether it's a viable company or if PCL goes the way of Pullmantur. Valid discussion 

 

So tweaking your answer, my answer would be: " If you are worried about CCL sell, if just about FCC on PCL cash out your FCC and relinquish bonus FCC. If not wait and see what happens." I'm fine but I'm down to 100 shares. Already took profits 📈 to cancel some of earlier losses

[dog]

5 minutes ago, Ombud said:

IMHO we've drifted to answers that aren't about whether or not we will cruise again but if CCL will continue with all lines (Aida, Carnival, Costa, Cunard, HAL, especially PCL, Seaborn) so it wandered into whether it's a viable company or if PCL goes the way of Pullmantur. Valid discussion 

 

So tweaking your answer, my answer would be: " If you are worried about CCL sell, if just about FCC on PCL cash out your FCC and relinquish bonus FCC. If not wait and see what happens." I'm fine but I'm down to 100 shares. Already took profits 📈 to cancel some of earlier losses

Agree. 
I find the thread useful. Appreciate other’s knowledge & opinions. 
mods will remove it if not. 

[Ombud]

Am I correct that this should lessen outflow up to 3rd quarter? A good thing?!

Edited January 12, 2021 by Ombud

[Sprocket]

I am not worried in fact I'm looking into buying the requisite 100 shares for OBC, wish I would have bought earlier but I'm still ok with the price its trading at now.  If they were just bleeding money probably not the greatest investment but people are still booking cruises we have 3 booked for this year and one in the works so far for next year.

 

Now if someone could speed up the vaccine process and the border reopen we will fingers crossed,  be good to go in early August.

[GonzoWCS]

No worries here.

 

Cheers

[mnocket]

CCL has said that they have enough cash to stay in business for another cruiseless year.

 

https://www.miamiherald.com/news/business/tourism-cruises/article248421205.html

 

[Earthworm Jim]

On 1/11/2021 at 10:02 AM, mcrcruiser said:

CCL has strong cash reserves . There should be no problem as they restart in May  2021 

 

I don't think you can be confident that they'll restart in May 2021. All that really tells us is that they won't restart before May 2021 at best.

[voljeep]

8 minutes ago, Earthworm Jim said:

 

I don't think you can be confident that they'll restart in May 2021. All that really tells us is that they won't restart before May 2021 at best.

a second Alaska season is in serious jeopardy ...