Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
11:09AM - Positive news is coming on Oxford Covid-19 vaccine. The vaccine is generating the kind of antibody and T-cell (killer cell) response that the researchers would hope to see, I understand. Details soon in ??@TheLancet?
This looks to be a summary for the full guidance that came out recently. We are expecting Carnival will announce a date for resumption of cruises in Italy, following the recent announcement of early August cruises in Germany.
Carnival's raise may well be limited by the sentiment of the market. The short-medium term is very reassuring, from a business point of view we do not expect any nasty surprises, shares will not be diluted and this is why we may see this jump to £12-15. The long term survival in my view was never in question, the concern was always around dilution. Possitive news indeed, this will go up up up.
The strategy is clear, get rid of the ships you were planning to get rid of so you don't have to pay to keep them running for an unknown period of time. Then delay the introduction of new ships until a point that you have the abilty to fill the ships.
The older and smaller cruise ships have always just ticked over, the new and larger ships make the money. A 9% reduction to the fleet will likely be a much smaller reduction to overall capacity, and the introduction of newer ships may return Carnival to greater capacity numbers on ships running greater margins.
Carnival will survive, and their cruise liners are at the ready to welcome passengers back on.
Caroline Dinenage said the government wanted to be 'a little bit more secure' that ships will not be plunged into coronavirus hotbeds once again.
The culture minister said: 'We have at the moment dissuaded people from going on cruises, probably until October, just because of the situation that we were in when the crisis hit when we had to repatriate people from all over the world on cruise ships'.
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Lets see how Carnival responds, very likely a push to re-open sooner.
From P&O Cruises president Paul Ludlow:
We acknowledge the FCO’s guidance and P&O Cruises had already extended the pause in operations for all sailings up to October 15, 2020.
Our current focus is to work in partnership with public health agencies at the highest level as well as Department for Transport; EU Healthy Gateways and CLIA, the industry governing body. We will follow applicable guidelines to further enhance our already stringent measures to keep our guests and crew healthy and well and we will not resume sailings until this framework is in place. This will include rigorous protocols pre-boarding, on ship and in the destinations we visit.
Confidence in cruising is strong and we are seeing increasing demand from our guests, who we look forward to welcoming back on board when the time is right.