Page 6: of Maritime Reporter Magazine (February 2021)

MARITIME

Editorial

REPORTER

AND

ENGINEERING NEWS

M A R I N E L I N K . C O M

HQ 118 E. 25th St., 2nd Floor

New York, NY 10010 USA

T +1 212 477 6700; F +1 212 254 6271

FL Of? ce 215 NW 3rd St

Boynton Beach, FL 33435-4009

T +1 561 732 4368; F +1 561 732 6984

Publisher John C. O’Malley @ShipNews [email protected]

Associate Publisher/Editorial Director

Greg Trauthwein [email protected]

Vice President, Sales

Rob Howard [email protected]

Editorial Contributors

Tom Mulligan - UK

Then

Claudio Paschoa - Brazil

William Stoichevski - Scandinavia

Production

Irina Vasilets [email protected]

Now

Nicole Ventimiglia [email protected]

Corporate Staff

Mark O’Malley, Marketing Manager

Esther Rothenberger, Accounting

Information Technology

Vladimir Bibik

Subscriptions

Kathleen Hickey [email protected]

Sales

Lucia Annunziata [email protected]

Terry Breese [email protected]; +1 561 732 1185

Corp. announced an expected cash burn rate

It seems somewhat surreal that nearly

John Cagni [email protected]; +1 631-472-2715 a full year has passed since the world of $600 million per month in 2021, though

Frank Covella entered fully into the grip of COVID-19, with $9.5 billion in cash at end 2020, it has [email protected]; +1 561 732 1659 punctuated by the tone of this year’s cover the liquidity to ride out 2021 in a zero-

Mike Kozlowski versus last year’s look inside Royal Carib- revenue environment. As vaccination rates [email protected]; +1 561 733 2477 bean’s data driven business model. In fact, climb and pent-up travel demand comes to the last business trip that I took in 2020 was the fore, it would be a stretch to imagine

International Sales

Scandinavia & Germany to south Florida about this time last year to that 2021 will be a ‘zero-revenue environ-

Roland Persson

Orn Marketing AB, Box 184 , S-271 24 meet with the team of RCCL executives to ment,’ but it can be assumed that the market

Ystad, Sweden [email protected]; +46 411-184 00 discuss their strategy in depth as featured ‘rebound’ will evolve slowly, with con- here: https://magazines.marinelink.com/ sultants Maritime Strategies International

Germany, Austria & Switzerland

Tony Stein nwm/MaritimeReporter/202003/. While (MSI), estimating cruise passenger levels [email protected] +44 1892 512777 2020 is in the rearview mirror, the effects to increase to 11.9m this year, an increase

United Kingdom of COVID-19 linger, and the once surging of 59% year-on-year, but still substantially

Paul Barrett

Hallmark House, 25 Downham Road, Ramsden cruise industry continues to struggle. For below the 29.6m cruise passengers recorded

Health, Essex CM11 1PU UK [email protected]; +44 7778 357722 our cruise coverage in this edition Barry in 2019. Our full report starts on page 26.

Parker does what he does best: diving into a

Classi? ed Sales +1 212 477 6700 topic through a ? nancial lens, and it doesn’t take a Big Six accountant to realize that this particular ? nancial picture is not pretty.

Founder:

While I normally associate ‘cash burn rate’

Gregory R. Trauthwein

John J. O’Malley [1905 - 1980]

Charles P. O’Malley [1928 - 2000] with Silicon Valley start-ups, it was interest-

Editor & Associate Publisher

John E. O’Malley [1930 - 2019] ing to note in Parker’s report that Carnival [email protected] 6 Maritime Reporter & Engineering News • February 2021

MR #2 (1-17).indd 6 2/5/2021 12:03:08 PM