Cruise stocks are in focus today following a report that Carnival (NYSE:CCL) logged its busiest booking week ever from March 28 to April 3. A number of popular cruise lines are trending up on the announcement. However, that isn’t the only news out of cruise lines recently.
So, what do you need to know about cruise companies today?
Well, as per Carnival, the week of March 28 smashed previous booking records. The company apparently enjoyed a double-digit increase from the previous record seven-day booking total. As such, Carnival and a number of its cruising competitors are up on the news.
Today’s news clearly hasn’t fallen on deaf ears. Royal Caribbean (NYSE:RCL) and Norwegian (NYSE:NCLH) are each up between 3% and 5% today at the time of writing. The big winner today, however, perhaps expectedly, is Carnival, which is up nearly 7% this morning.
What else is going on with cruise lines lately?
Cruise Stocks Soar on Strong Outlook
Carnival’s news comes in addition to an important development from Royal Caribbean. Royal recently offered an update on its upcoming top-line cruise ship, Icon of the Seas. The ship recently underwent its keel-laying ceremony, marking the start of its construction.
Michael Bayley, Royal Caribbean chief executive, had some encouraging words for the ceremony. “As this game-changing ship takes shape, the excitement from families and travelers alike, travel advisors and our partners continues to build. Later this year, we’ll reveal the lineup of firsts and favorites that will set a new standard for vacations come fall 2023,” he noted.
Icon’s development is especially exciting for the cruise line as it will be the first of three Royal Caribbean vessels running on liquefied natural gas, the most environmentally friendly fossil fuel accessible to cruise ships. As per Royal, the ship is set to debut in fall 2023.
Today’s news comes as a refreshing change of pace for the once struggling high-sea operators. In fact, Carnival recently reported that 22 out of its 23 total cruise ships are back in full operation. It expects its last ship to return to service in May, with new vessels expected to launch later this year and in 2023. As per Carnival, by the end of the year the cruise line will have greater sailing capacity than its pre-pandemic equivalent.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
