Impact of COVID-19 on the global cruise industry - Issue 2 (Hot Topic Brief)

Impact of COVID-19 on the global cruise industry - Issue 2 (Hot Topic Brief)



COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. The travel & tourism sector is suffering significant disruption and the cruise industry is being greatly impacted.

Key Highlights

- The industry has come to a halt. Many operators have temporarily suspended all voyages, with many others cancelling a number of cruises. Norwegian Cruises and Carnival Cruises have announced all voyages will be suspended until May 11th, Royal Caribbean until May 12th, and MSC and Viking until June 30th. These extensions come as no surprise and are seen as appropriate preventative measures. Saga is considering prudent planning scenarios for the extended suspension of all cruise and tour operations for six months due to the impact of COVID-19.
- Zaandam crisis has come to an end. 107 passengers and 143 crew on a Holland America Lines ship reported COVID-19 related symptoms, leaving passengers restricted to their cabins. The ongoing saga finally came to an end when the vessel was allowed to dock in Florida following intervention from US president Donald Trump. Disembarkation is expected to be completed by April 3rd.
- Companies are looking at ways to alleviate the COVID-19 impact. Carnival Corporation has offered its idle ships as makeshift hospitals, alleviating pressure on healthcare in the US. The company announced the initiative in a press release on Thursday afternoon, stating that select cruise ships from its fleet would be made available to communities, for use as temporary hospitals to help address the escalating impacts of the COVID-19 pandemic on healthcare systems around the world. Meanwhile, Fred Olsen Cruise Lines has donated 18,000kg of fresh food to charities in Barbados.

Scope

- This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that cruise lines can take to mitigate the impact of COVID-19.

Reasons to Buy

- Gain an overview of the current global COVID-19 situation
- Understand the impact that COVID-19 is having on the industry
- Explore future industry scenarios
- Assess possible mitigating actions
- Compare key industry players actions

Analysts Overview
Current COVID-19 Situation
Industry Impact
Future Scenarios
Actions to mitigate the impact of COVID-19
References

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