Yesterday, Carnival's (NYSE:CCL) namesake brand, Carnival Cruise Line, announced that it is "cancelling more cruises as we extend our pause in North American operations, with plans to resume on June 27, 2020."
At the time, Carnival Cruise was the only Carnival Corporation brand to extend its "no sail" policy quite that far out. But now, two other Carnival brands have followed suit: On Tuesday, first Princess Cruises and then Seabourn,Carnival's "ultra-luxury" brand, announced that they, too, will keep their ships in port longer than previously planned -- "through June 30, 2020," in fact.
Princess' announcement noted that it had previously hoped to resume sailing by May 10. Seabourn's previous target was May 14. In each case, the new policy extends the companies' respective time out of action by a good month and a half.
Carnival's several brands' announcements follow the publication of an extended "No Sail Order" order from the U.S. Centers for Disease Control, first issued on March 14 and then extended over the weekend. The CDC ordered cruise ships operating out of U.S. ports to remain in port until at least "the expiration of the Secretary of Health and Human Services' declaration that COVID-19 constitutes a public health emergency," or "the CDC Director rescinds or modifies the order based on specific public health or other considerations," or 100 days elapse from the date the March 14 order was first published in the Federal Register.
Whichever of these things comes first will determine the first date that cruise lines can resume cruising.
Carnival Corporation stock rose 8.9% in Tuesday trading, most of which accrued before Princess' announcement.