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☆ Port of Virginia is making big changes to become No. 1 on the East Coast for super-sized ocean containerships
▼ + stars: | 2024-05-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The dredging project is expected to be completed in Fall 2025, making the Port of Virginia the deepest and widest harbor on the East Coast. "Ultra-large container vessels have challenged every port," said Stephen Edwards, CEO of the Port of Virginia. Edwards said the port was able to quickly absorb Baltimore freight because of the ocean carrier service overlap in calling on the Port of Virginia, Baltimore and Port of New York/New Jersey. In January, the port became the first East Coast port to power all its terminals with 100% clean energy, eight years ahead of the 2032 target it set for that goal. The expansion will increase the fleet at NIT to 152 electric stacking cranes, seven electric rail cranes, and 31 electric ship-to-shore cranes.

Persons: Lori Ann LaRocco, Stephen Edwards, " Edwards, Edwards, It's, Good Hope, D'Andrae Larry, Larry, Jones, monopiles, Monopiles Organizations: NIT, CNBC, U.S ., Commonwealth, Walmart, Maersk, Port, Baltimore, Rail, Norfolk International, Uber, Virginia Department of Transportation, Dominion Energy, Rappahannock Electric Cooperative, ClearView Energy Partners, of Ocean Energy, U.S, District of Columbia, Dominion Locations: Port of Virginia, Port, Virginia, U.S . East Coast, Norfolk, Coast, of Virginia, East Coast, U.S, Delaware, South, Southeast Asia, Northeast Asia, India, Red, Suez, Good, Baltimore, Port of Baltimore, Port of New York, New Jersey, of Virginia's, Commonwealth, Norfolk , Virginia, East, Virginia Beach

☆ An ultra-luxury cruise line wants to attract wealthy Americans with its all-inclusive 'yachts' — see what the new 128-guest ship will be like
▼ + stars: | 2024-04-30 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Ultra-luxury cruise line Emerald Cruises says its third ocean ship will debut in 2026. Emerald, known for river cruises, has been investing more in its ocean-based business. But in the ultra-luxury cruise market, it's been the opposite. So much so that Emerald Cruises' next ocean-based ship, launching in 2026, plans to accommodate no more than 128 travelers. This story is available exclusively to Business Insider subscribers.

Persons: —, it's Organizations: Cruises, Service, Business

☆ 2 Holland America crew members die after 'incident' on cruise ship in the Bahamas
▼ + stars: | 2024-03-24 | by ( Cameron Manley | ) www.businessinsider.com time to read: +3 min

Two crew members on a Holland America cruise ship died during an "incident" in the engineering space. In a statement, the cruise line said it was "deeply saddened" by the incident. AdvertisementTwo crew members aboard a Holland America cruise ship died during an 'incident' in the ship's engineering space. AdvertisementAuthorities were notified and the cause of the deaths is being investigated, the cruise line said. Statistics also show that 97 passengers and crew members died due to cardiac issues, 72 died due to accidentally falling overboard, and 60 died due to jumping overboard.

Persons: —, Holland America Organizations: Bahamas Maritime Authority, Service, Holland America, Nieuw, Holland, Statistics, Princess Cruises, Carnival Corporation Locations: Holland America, Nieuw Amsterdam, Bahamas, Holland, Fort Lauderdale , Florida, Sydney

☆ Icon of the Seas: Why Americans Are Obsessed With Big Cruise Ships
▼ + stars: | 2024-01-25 | by ( Henry Wismayer | ) www.businessinsider.com time to read: +17 min

Love them or loathe them, giant cruise ships are among the most remarkable success stories of the mass tourism age. Rechristened the Mardi Gras, the first Carnival cruise ship sailed out of Miami that March. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Eight years later, cruise ships such as the Diamond Princess became early incubators for COVID-19. Cruise Market Watch forecasts there will be 360 cruise ships in service at the end of this year, comprising less than 1% of the global commercial fleet.

Persons: Ted Arison, Arison, Pieter De Boer, Costa, Diamond, Aaron Saunders, We've, Sue Bryant, Z, sass, Emma Le Teace, YouTuber, David Foster Wallace, Harper's, Sarah Knorr, Bryan Comer, Karla Hart, Hart, Saunders, it's, Henry Wismayer Organizations: Port, Passengers, Mardi Gras, Mardi, Gras, Cruise, Royal Caribbean, Costa Concordia, Cruise Lines International Association, Broadway, CivicScience, Royal, Virgin, Business, Transport & Environment, Getty, International Council, Global Cruise, Global Cruise Activist Network, Cruise Market, Royal Caribbean International, New York Times, National Geographic, Financial Times Locations: Port of Miami, Caribbean, Miami, The Port, Tuscany, Italy, Royal Caribbean, TikTok, Panama, Bahamas, Brussels, Netherlands, Douarnenez, Venice, Dubrovnik, Croatia, Amsterdam, Juneau , Alaska, Skagway , Alaska, CocoCay, London

Travelers are looking to cruises in 2024 because they are still cheaper than land-based alternatives. With occupancy levels approaching pre-pandemic levels, operators plan to hike prices in coming months. "Overall the market is extremely strong, especially the top end of the market in terms of the most high-end luxury cruises," said Bob Levinstein, CEO of cruise marketplace Cruise Compete. Even as travelers have canceled or postponed planned vacations to the Middle East, cruise bookings will still hit record levels in 2024, said Truist Securities analyst Patrick Scholes. Prior to the Oct. 7 attacks in Israel, industry-wide bookings for 2024 were about 25% higher than in 2019 for bookings in 2020.

Persons: Queen Mary, Andrew Kelly, Bob Levinstein, Patrick Scholes, Scholes, Jason Liberty, Josh Weinstein, Atle, Kari Dillon, Dillon, InteleTravel, Dave Spinelli, Ben Harrell, Granth, Marguerita Choy Organizations: Cunard Line, Carnival Corporation & plc, Brooklyn Cruise, REUTERS, Travelers, Truist Securities, Cruise Lines International Association, Royal Caribbean, Liberty ., Holdings, Cruisers, Thomson Locations: Brooklyn, Brooklyn , New York City, U.S, BENGALURU, Israel, Caribbean, Oslo, North Carolina, Florida, InteleTravel, Delray Beach , Florida, Royal Caribbean, Bengaluru, Doyinsola, New York

☆ Traveling alone on a cruise could double the cost of your vacation — but this could soon change
▼ + stars: | 2023-10-20 | by ( Brittany Chang | ) www.businessinsider.com time to read: +4 min

The "single supplement" fee could double the cost of your solo cruise vacation. On cruise lines like Royal Caribbean and Norwegian, this charge can double the cruise fare. But this doesn't mean you have to give up on the solo cruise vacation of your dreams. More cruise lines are adding single-person cabins to their new shipsSome of Norwegian Cruise Line's ships have a lounge for solo travelers. Norwegian Cruise LineMore people have been opting to travel alone , and it seems these cruise lines are now taking notice.

Persons: — Organizations: Service, Virgin Voyages, Virgin, Norwegian Cruise, Cruise, Princess Cruises Locations: Caribbean, Oceania, Norwegian

☆ China kicks off its plan to take on the cruise industry: 'There's no turning back'
▼ + stars: | 2023-09-30 | by ( Hannah Towey | Brittany Chang | ) www.businessinsider.com time to read: +7 min

After a three-year hiatus, international cruise lines can resume sailings from China. AdvertisementAdvertisementRoyal Caribbean's Wonder of the Seas, once the world's largest cruise ship, was originally scheduled for year-round sailing from China. Then COVID-19 shut down the cruise industry and China blocked sailings from international cruise lines. Now, after a three-year hiatus, international cruise lines can resume sailings from China. Enter the Adora Magic City, the first Chinese-built and operated cruise ship.

Persons: —, Kun Cao, Reddal, James D, Morgan China, Cao, Joel Katz, Asia —, Michael Bayley, Bayley, Yang Guobing, Andy Stuart, Skift, it's Organizations: Service, Seas, Royal Caribbean, Magic City, Cruise, Royal Caribbean International, China China's, China State Shipbuilding Corporation, Carnival Corporation, Publishing, Getty Images, Viking Cruises, China Merchants Group, Royal, MSC, CSSC Carnival Cruise Shipping, Xinhua, Getty, Cruise Line, Global Times Locations: China, Shanghai, Fort Lauderdale , Florida, Southern, Magic, Caribbean, Asia, Australasia, CLIA, United States, Miami, Switzerland, Royal Caribbean, —, Norwegian, Alaska

☆ SpaceX’s Starlink partners with European satellite giant SES for combined cruise market service
▼ + stars: | 2023-09-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

SES will manage the joint offering, called "SES Cruise mPOWERED + Starlink," as a service that it says will provide high-speed, reliable internet service to cruise ships, regardless of whether they're clustered in port or far out at sea. PARIS – European satellite operator SES is teaming up with SpaceX's Starlink to offer a combined service to cruise operators, the companies announced on Wednesday. SpaceX has launched over 5,000 Starlink satellites to date and had over 1.5 million customers as of May. SES said it's in discussions with multiple initial cruise customers for the combined service, but declined to specify further. And the companies are also talking about other potential markets that would be a fit for the combined SES and Starlink service.

Persons: Pinto, MEO, Ruy Pinto, SpaceX's Starlink, Chad Gibbs, Starlink, it's, " Pinto Organizations: SES, GEO, MEO, LEO, CNBC, SpaceX, Starlink, Intelsat, Royal Caribbean Cruises, Revenue Locations: Luxembourg, PARIS, European

☆ The first large cruise ship built in China complete with a water park, a brewery, and 5G will sail this year — see inside
▼ + stars: | 2023-08-22 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Adora Cruises' first ship, the Adora Magic City, will sail later this year as China's first locally built large cruise vessel. A new Carnival Corp cruise ship will hit the seas later this year. In 2015, state-owned China State Shipbuilding Corp (CSSC), the country's wealth fund China Investment Corp, and the recognizable Carnival Corp set up a contract to create a Hong Kong-based cruise company. A few years later, CSSC's Cruise Technology Development arm and Carnival announced its joint venture: Adora Cruises. But unlike Carnival's eponymous cruise line, Adora Cruises — formerly known as CSSC Carnival Cruise Shipping Limited — will only be servicing the Chinese cruise market.

Organizations: Cruises, Carnival Corp, China State Shipbuilding Corp, China Investment Corp, Corp, CSSC's Cruise Technology Development, Carnival, Adora, Cruise Shipping Locations: Magic, China, Hong Kong

☆ Fire safety fears are delaying the launch of the world's newest luxury cruise liner, report says
▼ + stars: | 2023-07-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

The launch of a luxury cruise ship was delayed by faulty fire panels, the Financial Times reported. The launch of a highly anticipated luxury cruise ship has been delayed by safety concerns, the Financial Times reported on Friday. According to data compiled by Cruise Market Watch, about 320 cruise ships are operating globally. That would indicate about 15% of the world's operating cruise ships could be at risk of disruption if the panels needed to be replaced. According to economic forecaster Oxford Economics, cruise operating capacity is expected to exceed its 2019 level by 16% in 2024.

Persons: Fincantieri, Paroc, didn't Organizations: Financial Times, Caribbean International, Cruise Market Watch, Cruise Line International Agency, Oxford, MSC Locations: Finnish, Italian

☆ How Americans plan to travel this Memorial Day
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +2 min

May 26 (Reuters) - The upcoming Memorial Day weekend is expected to see millions of Americans travel despite tight budgets, kicking off the busy summer travel in the U.S on a high note. Here's how the Memorial Day travel might look like:ROADTRIPS** Cheaper gas is pushing more Americans to consider road travel as an alternative. ** About 37.1 million Americans are expected to drive down to their destinations this Memorial Day, a 6% increase compared to 2022, according to data from travel group AAA. ** Car rental prices are down 17% compared to Memorial Day Weekend last year, travel booking website Hopper says. FLIGHTS** 3.4 million travelers are expected to take a flight for the upcoming Memorial Day weekend, an 11% increase year-over-year - AAA.

☆ A European cruise line with cheap fares is making a big splash in the US — take a closer look at MSC Cruises
▼ + stars: | 2023-03-21 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

"The US is the biggest cruise market in the world and it is important that we play a big role here," the spokesperson said.

☆ Ritz-Carlton's new luxury cruise ship will sail in 2024 starting at $6,800 per person — see inside the 456-guest 'yacht'
▼ + stars: | 2023-03-19 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

The luxury cruise market has been "off the charts," UBS analysts said in a note in October 2022. As for the Ritz cruise line itself, it's operated by the same Ritz-Carlton that operates the hotel chain, which is owned by Marriott. The outdoor infinity pool deck will have two two hot tubs. The Ritz-Carlton Yacht CollectionSource: Insider

☆ JPMorgan double downgrades Royal Caribbean Group, says it's 'more vulnerable' to macro pressures
▼ + stars: | 2022-12-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Sell shares of Royal Caribbean Group as they could fall 20% from here, JPMorgan said Tuesday. Analyst Daniel Adam double downgraded shares to underweight from overweight, and slashed his price target, saying that Royal Caribbean is "more vulnerable" to macro pressures than its peers because of its future capital commitments. To be sure, Royal Caribbean has some advantages, including an 18% share of the cruise market that is expected to have a better setup heading into 2023. Shares of Royal Caribbean are down roughly 22% this year. The analyst's December 2023 price target of $47, cut from the December 2022 price target of $106, suggests roughly 20% downside from Monday's closing price.

☆ Photos: Ritz-Carlton's New Luxury Cruise Ship to Sail This Week
▼ + stars: | 2022-10-16 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

And it seems like travelers can't get enough of these expensive cruises: The luxury cruise market has been "off the charts," UBS analysts said in an October 11 note, a fortuitous sign for companies like Ritz-Carlton. Francisco MartinezSource: Insider

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