Cruise Ship Fire, Cruise Line Stops Last Minute Cruise Deals

Editorial Summary

Doug Parker reports on several significant developments within the cruise industry. The report begins with an incident involving the American Queen Voyages ship, Ocean Navigator, which experienced an engine room explosion in Portland, Maine. The fire was caused by a generator and resulted in one crew member receiving medical attention for non-life-threatening injuries. Despite the evacuation of 128 people, the vessel was scheduled to depart later that day. In pricing news, Princess Cruises is altering its business model by discontinuing last minute discounts. The company is now encouraging passengers to book well in advance to secure the best rates, a move described by Chief Commercial Officer Terry Thornton as a dramatic shift driven by rising demand. Additionally, Princess has implemented a best price guarantee for specific stateroom categories. The news also covers a new residential cruise concept offered by Villa Vie Residences, where individuals can purchase cabins to live aboard for three years. These cabins include workspaces and high-speed internet, with the option to resell or lease them. Finally, the report notes a downward trend in cruise line stocks, with Carnival Corporation, Royal Caribbean, and Norwegian all seeing percentage decreases on Wednesday.

Written by TripBacon from this video's transcript.