Crystal Cruises
- Cruise-ship stocks soared on Monday after the CDC released a technical guidance update that suggests the industry is closer to setting sail again.
- The guidance includes additional safety standards cruise-ships must adopt to help combat COVID-19.
- Norwegian Cruise Lines submitted to the CDC its plans to set sail for the first time since the pandemic began on July 4.
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Cruise-ship stocks soared on Monday after the CDC released a technical guidance update that suggests the industry may be allowed to set sail with paying passengers later this year.
Cruise ships in the US have been unable to set sail for more than a year since the COVID-19 pandemic began.
Shares of Norwegian Cruise Lines, Carnival Corp., and Royal Caribbean Group soared as much as 8%, 7% and 5% in Monday trades, respectively.
The CDC guidance sets up additional COVID-19 protocols for cruise-ships to follow, including running trial voyages with volunteers to test out the new measures before sailing with paying customers.
Requirements also include cruise ships following a color-coded guidance system used to classify ships related to COVID-19, and testing requirements for crew members on a routine basis depending on the ship's color code.
Norwegian Cruise Lines outlined its plan to resume sailing later this year in a letter submitted to the CDC. The company will require its guests and crew members to be fully vaccinated during the initial relaunch of its cruise-ships.
Norwegian said it plans to restart cruising from US ports starting on July 4, pending approval from the CDC. That could be good timing for the company, as US consumers begin to shift their spending towards services, which bodes well for the travel sector, according to a recent note from Jefferies.
