Cruise Liners Gain On Hope Business Will Come Booming By Investing.com

By Dhirendra Tripathi

Investing.com – Shares of cruise liners rose Tuesday on hope that business will roar as they resume ship operations and achieve capacity in a not-too-distant future.

Royal Caribbean Cruises (NYSE:RCL) and Norwegian Cruise (NYSE:NCLH) were both up around 2% while Carnival (NYSE:CCL) gained 3%.

Some operators like Royal Caribbean have resumed sailing outside the U.S. in a very limited manner with plans for further rollout starting in July.

The operators have submitted to Centers for Disease Control and Prevention their plans to resume cruises from U.S. ports in July. But there is still a question about their ability to keep their date given the CDC’s new guidelines for safety of the guests.

Carnival last week cancelled most of its cruises through July and will resume operations on select ships only that month.

Cruise operators have been the hardest hit by year-long lockdowns that got lifted for most businesses a few months ago. Given the profile of the business, cruise operations are still shut with all hopes now pinned on their July resumption.