EconProf,
I wonder how many of those Truimph passengers will be using their “free” voucher for a future cruise.
I agree that the Cruise Industry will probably take a relatively short term hit. However, the Carnival brand has taken a serious hit this week. Carnival is also the company the owned the Costa Concordia that sunk off Italy a year ago., The more upscale Cruise lines may gain some market share on Carnival, which is cheap McCruise provider.
Fires on these cruise ships seem to cripple them every so often. One was towed to San Diego back in 2010. Sorta wonder if some of these ship designs are flawed, allowing for a single point of failure for entire electrical generation system. The backup generators on the Triumph were essentiallly useless.
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These passengers have little legal recourse even if they did get hurt. All these cruise lines are flagged in Bahamas or other locale with loose regulatory and tax burden. If you have some incident occur in international waters your legal remedies are even further diminished.
EconProf, I’ll let you enjoy your next mega cruise, I think that i will be a landlubber for next few vacations until I’m lured back on after watching reruns of The Love Boat.
