Here are the top cruise industry news stories for Friday, October 20, 2023, and the stock report for Carnival Corporation (CCL), Royal Caribbean Group (RCL), and Norwegian Cruise Line Holdings (NCLH).
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Cruise News Updates
Australia’s Cruise Industry Breaks Pre-Pandemic Records
In the 2022-23 financial year, Australia’s cruise industry saw a 22% increase from pre-pandemic levels, reaching a record $5.63 billion in economic impact, as the Australian Cruise Association reported.
This boost came after the government lifted a two-year ban on cruises in April 2022.
As a result, over 18,000 jobs were created, and cruise-related wages totaled AUD 1.82 billion ($1.15 billion US).
The country welcomed 1,354 cruise ships. Cruise visitors spent $1.49 billion.
Cruise Expansion Project a Go for USVI
Thanks to a five-dollar cruise passenger tax hike, you will fund a new pier in St. Thomas.
The Virgin Islands Port Authority, Royal Caribbean Group, and Cruise Terminals International have partnered to expand cruise ports on St. Croix and St. Thomas, focusing on Crown Bay on St. Thomas.
The project will revitalize the Subbase and Crown Bay area, modernize the Crown Bay Center, and potentially expand the Austin “Babe” Monsanto Marine Terminal.
Royal Caribbean has also committed to expanding pier infrastructure at St. Croix.
Man Detained Over Alarming Cruise Ship Threat
A 39-year-old man was detained after reportedly making a threat against a cruise ship docked at Marina Bay Cruise Centre in Singapore.
The threat, delivered via an email to Resorts World Cruises, led to a rapid security response.
Although no explosives were found, the scene disrupted operations, delaying about 4,000 passengers for two hours.
Neo, arrested within three hours of the threat, could face up to seven years in jail, a $50,000 fine, or both.
Cruise Line Stock Report
- CCL 11.39 down 2.6%
- RCL 82.08 down 1%
- NCL 13.96 down 2.5%