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Cruise lines hit choppy economic waters

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Cruise lines hit choppy economic waters

Postby Anthony » Tue Jun 27, 2006 12:31 pm

There is an article on Charleston.net saying that some of the major cruise lines are seeing some weakness, especially in the Caribbean market:

<blockquote>Carnival Corp., the cruise line with almost 50 percent of the world market, reported a 2 percent decline in its second-quarter profit last week.

Surging fuel prices punched a big hole in the Miami-based company's books, a hole that was 53 percent bigger than in the first six months of last year. And there was "considerable softness" in demand for the company's Caribbean routes - a category that includes most ships steaming out of Charleston.

Royal Carribean Cruises Ltd., the No. 2 luxury liner outfit, has not yet released its second-quarter numbers, but things aren't looking good. In the first three months of the year, its earnings fell 37 percent and its fuel costs spiked 59 percent.

All of this is good news for downtown residents who don't like traffic on their streets and sidewalks, but not so good news for vendors in the City Market, restaurants, golf courses and every other business that tears a piece off of the tourism dollar. About 41,000 people sailed out of Charleston Harbor on cruise ships last year, according to the U.S. Maritime Administration. Local hospitality businesses stand to lose a lot of revenue if that number drops.</blockquote>

More <a href="http://www.charleston.net/stories/?newsID=94528&section=businessreview">here</a>.
Anthony for Caribbean-On-Line
Anthony
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Sales for 2007

Postby caribbean65 » Fri Mar 16, 2007 9:10 pm

We are hitting our quotas but you can definitely smell the fear from people and this great economy.
caribbean65
 


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