Norwegian Rallies as CDC Sets New Sailing Rules

imageStock Markets30 minutes ago (Apr 29, 2021 11:25AM ET)

(C) Reuters.

By Christiana Sciaudone — Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) rose 3% as they prepare to set sail.

The Centers for Disease Control is allowing for cruise ships to take on passengers by mid-July as long as 98% of crew members and 95% of guests are fully vaccinated, The Wall Street Journal reported, citing a letter to the industry.

Cruises have been banned for over a year, which has led the industry to plummeting sales and major losses. There’s hope that amid vaccinations and record personal savings — and of course our pent-up need for fresh air and fresh sights — cruise lines will see better times ahead.

Yesterday, Norwegian said Oceania Cruises will resume operations with sailings to Scandinavia and Western Europe in August and Regent Seven Seas Cruises will restart cruising with voyages from the U.K. beginning in September. Norwegian Cruise Line (NYSE:NCLH) will continue its phased restart with Mediterranean voyages on board Norwegian Epic and Norwegian Getaway in September, following its previously announced Caribbean and Europe itineraries beginning in July and August.

The CDC also loosened testing and quarantine requirements, the Journal said.

Norwegian peer Carnival (NYSE:CUK) rose 1.2% but Royal Caribbean (NYSE:RCL) failed to inspire, and shares were slightly lower.

Norwegian Rallies as CDC Sets New Sailing Rules

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