Cruise stocks are slipping on Wednesday after losing a battle with environmental groups over new regulations.
The Cruise Lines International Association has been working to ease restrictions that cruise lines would face when the new regulations go into effect. However, environmental lobbyists pushed back to keep those regulations in place.
While many cruise lines are already promising to reduce carbon emissions, the new regulations would put more pressure on them to do so faster. Arguments against the cruise lines included that loosening the regulations would only increase emissions while saving those companies money.
So what do the new regulations do exactly? They require each ship to have a Carbon Intensity Indicator. This is measured by diving CO2 output by capacity and nautical miles traveled. The problem is ships staying in port longer. This could skew the data and incentivize ships to stay out at sea longer, reports Seeking Alpha.
Let’s take look at how this is affecting cruise stocks below!
Cruise Stocks Slipping Today
- Carnival (NYSE:CCL) stock is falling 3.9% as of Wednesday morning.
- Royal Caribbean Cruises (NYSE:RCL) shares are dropping 3.7% as of this writing.
- Norwegian Cruise Line (NYSE:NCLH) stock is decreasing 3.3% as of this morning.
Investors looking for more stock market news today are in the right place!
We’ve got all the hottest stock market coverage traders need to know about for Wednesday! Among that is what has shares of Nio (NYSE:NIO) and Novavax (NASDAQ:NVAX) stock moving as well as this morning’s biggest pre-market stock movers. You can read about these topics at the following links!
More Wednesday Stock Market News
- NIO Stock News: Nio Tells AMD to Stop Saying They Have a Chip Deal
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On the date of publication, William White did not have (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.