I'm hoping that's not the case," she said. We are all individually responsible for thinking these things through and being provident; no one's going to do it for us. 8. Who is the biggest cruise line company? How to find the correct spelling and folder, 404 Errors After Clicking WordPress Links, From the left-hand navigation menu in WordPress, click. Your post is an excellent example of why hearsay evidence is not admissible in US courts. If you have already uploaded the file then the name may be misspelled or it is in a different folder. MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements. Powered by Invision Community. MSFJ is not a Nationally Recognized Statistical Rating Organization ("NRSRO"). Edit the file on your computer and upload it to the server via FTP. Even though it is a privately held company - information still leaks out. Before you do anything, it is suggested that you backup your website so that you can revert back to a previous version if something goes wrong. A few need to be bought within a certain time frame of your initial deposit. Viking is a privately held company so it is improbable that any information concerning their financial status would be available to outsiders. This topic is now archived and is closed to further replies. A federal judge ruled that Norwegian Cruise Line can ask passengers for proof of vaccination before sailing, putting a hold on Florida's vaccine passport ban. Terms apply to the offers listed on this page. Only one U.S.-based cruise brand, tiny Blount Small Ships Adventures, has shut down since the coronavirus crisis began. With a cruise, since the "delivery date" (the cruise sailing date) is not scheduled until Sept. 2010 you can't be expected to file a dispute within 120 days of making the payment. Moody's Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_79004. Notice that the CaSe is important in this example. Data is a real-time snapshot *Data is delayed at least 15 minutes. But the current consensus in the cruise world is that many vessels will be able to resume cruising long before then. Some advice. In other words, the two companies had enough cash and cash equivalents on the books in August to survive nearly 14 and 18 months, respectively, with no cruising. The combined credit effects of these developments are unprecedented. 1) We booked our cruise using a credit card. But the lines have been canceling voyages in waves, about a month at a time. For further specification of Moody's key rating assumptions and sensitivity analysis, see the sections Methodology Assumptions and Sensitivity to Assumptions in the disclosure form. Norwegian Cruise Line Holdings is the parent company of Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises. Moody's SF Japan K.K. Related: Some travel insurance companies limit coverage for Crystal. If you have any questions or need further information please contact Reservations at 1-877-523-0579 or email customerrelations@vikingcruises.com, Monday Someone with a burr under their saddle with a cruise, perhaps some complaint that was not resolved, takes on a few too many cocktails and starts telling people the cruise line is in trouble. Special Event: Q&A with Rudi Schreiner, President, Co-Founder & Co-Owner - AmaWaterways River Cruises, Q&A with Avoya Travel: Learn How to Turn Your Passion into Success by Becoming an Independent Travel Advisor. The 4 export credit loan facilities are backed by the Italian export credit agency SACE (Servizi Assicurativi del Commercio Estero). 2) We bought the full-coverage trip insurance policy. Right click on the X and choose Properties. WebViking RIVER CRUISES. I frequently use "insure my trip" and they always have competitive pricing. Of course, if the cruising shutdown continues into late next year or beyond, all bets are off. Any feedback from you CC folks would be appreciated. Royal Caribbean Group is the parent company of Royal Caribbean, Celebrity Cruises, Azamara and Silversea. At least with the early booking you can get a better selection of cabins, especially the lower priced categories. Many have coverage lists available on line. Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODY'S affiliate, Moody's Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody's Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as applicable). Never,ever get trip insurance with the cruise line company/ Travel company. On a combined basis, they own a 23% stake in the company. The ratings have been disclosed to the rated entity or its designated agent(s) and issued with no amendment resulting from that disclosure. Currently they are offering 2 for 1 rates (the line I was on isn't at this time for the dates I need) but I am a little concerned using them considering this information. WebAre Viking cruises in financial trouble? I frequently use "insure my trip" and they always have competitive pricing. All Rights Reserved. Click here to reload the page in order to enable certain features. Simply, there is no ability to question or cross examine hearsay evidence. You can try renaming that file to .htaccess-backup and refreshing the site to see if that resolves the issue. What you heard were rumors. A Division of NBCUniversal. The text appears: onwards WebFind many great new & used options and get the best deals for P & O Ferries Viking Voyager Commerative 25 Anniversary Cruise May 1989 Signed at the best online prices at eBay! ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. Highlights, big interviews, and more from the Milken Institute Global Conference, UPDATE 1-US to end COVID vaccination requirements on May 11 for foreign travelers, federal workers, Barbie movie is 'a showcase for the quality of the movies we're looking to make,' Mattel CEO says, JPMorgan acquires First Republic, DeSantis-Disney feud escalates, Lordstown Motors' warning, We are probably heading for recession: Citi CEO. Viking's liquidity is good with our estimate of cash balances of about $1 billion, providing it sufficient runway to get through this period of unprecedented earnings The company's credit profile is also constrained by its limited diversification both in terms of geography and customer base and the cyclicality, seasonality and capital intensity inherent in the cruise industry. As "We are a private, closely held company, which means we do not have to rush the decision to return to service," Viking chairman Torstein Hagen said in August in a letter to customers. For more cruise news, reviews and tips, sign up for TPG's new cruise newsletter. As I had previously posted, for financial default protection, I always pay via credit card. If your blog is showing the wrong domain name in links, redirecting to another site, or is missing images and style, these are all usually related to the same problem: you have the wrong domain name configured in your WordPress blog. Among the lines that have begun tiptoeing back into operation with a few sailings is Germany's Tui Cruises, which Royal Caribbean partly owns through a joint venture. When you have a missing image on your site you may see a box on your page with with a red X where the image is missing. missbsmom, August 7, 2009 in River Cruising. RELATED: Royal Caribbean and Norwegian Cruise Line seek additional credit RELATED: Carnival Corp says it has enough cash for another year of no cruising The company says it has undertaken a number of cost reduction and cash conservation measures to mitigate the effect of the loss of revenues from its operations, but that its Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review. Then Streets cruise line, Viking, offered her a partial refund. WebBased on the latest financial disclosure, Norwegian Cruise Line has a Probability Of Bankruptcy of 42.0%. These ratings are solicited. We just booked a Sept. 2010 Viking cruise and paid with a credit card so I feel protected for financial default by Viking. Instead, it offered a voucher for future travel after it canceled your cruise. November 23, 2022 , Cruise Industry. A few years ago when I went on Amadeus, I only found 1 company that would cover them for financial default so I went with them. AND/OR ITS AFFILIATES. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. Redirects and rewriting URLs are two very common directives found in a .htaccess file, and many scripts such as WordPress, Drupal, Joomla and Magento add directives to the .htaccess so those scripts can function. CREDIT RATINGS, NON-CREDIT ASSESSMENTS ("ASSESSMENTS"), AND OTHER OPINIONS INCLUDED IN MOODY'S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. Always get independent trip insurance to protect yourself. In Februar 2009 it was announced that they have found someone without naming it. So I guess you have to ask yourself, if you booked would you be able to sleep at night! Improve earnings, maximize rewards and track progress toward dream trips. If you have a booking on a cruise right now, chances are it's with one of the three big companies mentioned above. To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability to any person or entity for any indirect, special, consequential, or incidental losses or damages whatsoever arising from or in connection with the information contained herein or the use of or inability to use any such information, even if MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers is advised in advance of the possibility of such losses or damages, including but not limited to: (a) any loss of present or prospective profits or (b) any loss or damage arising where the relevant financial instrument is not the subject of a particular credit rating assigned by MOODY'S. We're talking about such lines as AmaWaterways, American Cruise Lines, UnCruise Adventures and Uniworld Boutique River Cruise Collection. TPG Capital and Canada Pension Plan Investment Board own a minority interest (about 23% on a combined basis) in Viking Holdings Ltd, parent company of Viking Cruises. Not sure if it was because the company was new or having problems but these insurance companies stay up on these issues. Related: Cruise executives say they're in no rush to return to service. Quite a few of the smaller cruise lines marketing to North Americans, including most river lines aimed at North Americans, are privately owned. For addon domains, the file must be in public_html/addondomain.com/example/Example/ and the names are case-sensitive. Genting Hong Kong this week sold its discotheque division, Zouk Group, for about $10 million as it sheds non-core assets in a bid to maintain liquidity. Moody's expects that without a medical answer to the virus, people are likely to remain reluctant to fly internationally", added Trombetta. I agree the 2-for-1 offer may not be all that it seems, but they do provide nice pricing on the air fare and the free wine with dinner does have some value. Viking Cruises Ltd. on Monday launched a bid to raise money to help it sustain its business through the coronavirus pandemic. While it doesn't guarantee they are in financial trouble, it would give me pause. http://www.professionaltravelguide.com/Travel-News/Cruise/Viking-investment-deal-is-off-p2150895, http://www.telegraph.co.uk/finance/newsbysector/transport/5225290/Viking-River-Cruises-in-buy-out-deal.html. All this does for the 2/27 report is give NCL the ability to say 'Look at everything we're doing to improve our results in the future." FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS. Interim Management Statement for the period January 1March 31, 2017. When working with WordPress, 404 Page Not Found errors can often occur when a new theme has been activated or when the rewrite rules in the .htaccess file have been altered. In the short run, Viking's credit profile will be dominated by the length of time that cruise operations continue to be highly disrupted and the resulting impacts on the company's cash consumption and its liquidity profile. Viking will send you a number of notifications via email as your departure date nears, including your booking confirmation, payment receipts and, if you purchased your air travel from Viking, logistical information about your air travel and transfers. What airlines does Viking River Cruises use? The Fair Credit Billing Act (also known as the FCBA) sets a limit of 60 days from the date the statement was MAILED that contains the disputed charge. MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. Many of the cruise line policies only offer a future cruise credit on their line, with blackout dates, should you cancel. The company says it has undertaken a number of cost reduction and cash conservation measures to mitigate the effect of the loss of revenues from its operations, but that its financial position has continued to deteriorate. Also, when pricing insurance policies, compare benefits. The ship arrived there on her own engine power, accompanied by two offshore supply ships and assisted by a tugboat. I can only make a claim if Viking fails to deliver, not if I decide not to go on it. Any feedback from you CC folks would be appreciated. Can't afford to pay the full price of their competitor. But there are other cruise lines out there, of course. Just returned last month from a River Cruise on another company (not Viking), had a wonderful time. At least one ESG consideration was material to the credit rating action(s) announced and described above. Most tour organizations have had a decline in travel and some are no longer with us. Check this out--http://current.newsweek.com/budgettravel/2009/07/river_cruises_why_travel_insur.html. One other cruise company that has experienced financial difficulties of late is Hong Kong-based Genting Hong Kong, the parent company of Crystal Cruises. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating. "The downgrade also reflects our assumption that Viking's demand trends could remain weak in the first half of 2021 as the company is more reliant on passengers from North America that fly to Europe to cruise. Compare the cost in points or miles to cash, and see which option is best. I do not believe Cruise Critic permits posting the Web site name on any threads. A few years ago when I went on Amadeus, I only found 1 company that would cover them for financial default so I went with them. The ratings outlook is negative. Related: Has MSC Cruises cracked the code for a safe return to cruising? Moody's Investors Service, Inc., a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by Moody's Investors Service, Inc. have, prior to assignment of any credit rating, agreed to pay to Moody's Investors Service, Inc. for credit ratings opinions and services rendered by it fees ranging from $1,000 to approximately $2,700,000. Sept. 25, 2010. Use down arrow key to expand the menu and up arrow key to collapse the menu and hit enter to select the link, Do Not Sell or Share My Personal Information. But as the company's executives noted in July during a conference call with Wall Street analysts, Carnival Corporation had $7.6 billion in "liquidity" -- cash and cash equivalents -- as of May 31, when it closed the books on its second quarter. I have been watching & reading to see if I could find any current info to their financial status. Notice that the CaSe is important in this example. Norwegian Cruise Line Holdings in August said it was burning through about $160 million a month but had liquidity of $2.8 billion. How would you know they were talking absolute fact? When you get a 404 error be sure to check the URL that you are attempting to use in your browser.This tells the server what resource it should attempt to request. Look for the .htaccess file in the list of files. If you've got a booking on any of them, you shouldn't be too panicked -- at least for now. Even the cruise director on the ship I was on said when asked that she had heard this so I feel the talk was real, not just a rumor. After spending more than $18,000 on her trip, Ileene hopes the company isn't in financial trouble. Meanwhile, one of the largest European operators, Viking River Cruises, has been having a bumpy ride financially. I use "insure my trip",which is usually much cheaper too. Viking Ocean Cruises announced it is taking US$1.5 billion in financing on 4 ships. Could the end be near for your favorite cruise line? I was not happy with that, Street explained. Also with Viking be sure you compare prices with their 2 for 1 deals. Now people start not booking because of this snowballing rumor, and before you know it, the cruise line IS in financial difficulty..strictly because of rumor. Announcing Our 2023 Cruisers' Choice Award Winners! (Video) Viking Ocean Cruises Is NOT All I Thought It Was (Tips For Travellers) How financially secure is Viking Cruises? (Updated 1:37 p.m. EST) -- The omicron COVID-19 surge has caused several cruise lines, including Fred. Currently they are offering 2 for 1 rates (the line I was on isn't at this time for the dates I need) but I am a little concerned using them considering this information. The company is offering the debt they are not self insured as Viking may be. Genting Hong Kong is the parent company of Crystal Cruises as well as two Asia-based cruise lines: Dream Cruises and Star Cruises. Moody's also expects that Viking's available US capacity will be modest in the first half of 2021 as the industry puts in place acceptable guidelines that satisfy the requirements for the Centers for Disease Control and Prevention (CDC) to lift its no sail order put in place in March. missbsmom, August 7, 2009 in River Cruising. I'd recommend you "pretend" you're going to buy trip insurance and see which companies come up listed as not covered. WebA Viking River ship sails in Budapest. Additional terms for Japan only: Moody's Japan K.K. Is Viking cruise line in financial trouble? They are well known for hiking up the prices of their cruises and than offering 2 for 1 deals.Usually with the 2 for 1 deal the price comes out to be the same as the regular price of other companies. One or two of those go on an Internet forum and start posting. WebAre Viking cruises in financial trouble? 1) We booked our cruise using a credit card. The possible investor was the Dutch company Waterland. For information about your specific voyage, please log onto MyVikingJourney.com. See the Section on 404 errors after clicking a link in WordPress. The price action is already alarming to the downside, and Carnival especially is acting like it wants to test and breach its 2020 lows. But does it have to? The text appears: #1 on the oceans. There are also no guarantees that the alternative cruise line you select will not develop financial difficulties. RewriteRule ^index.php$ - [L] Put the custom structure back if you had one. RewriteBase / Does Viking still go to Russia? Viking is a cruise line providing river, ocean, and expedition cruises. This varies by browser, if you do not see a box on your page with a red X try right clicking on the page, then select View Page Info, and goto the Media Tab. I specifically picked a trip insurance policy without default coverage and saved about $150. WebIs Viking River Cruises in financial trouble? I took a look at some of their 2009 cruises and many are sold out. Viking's credit profile is supported by its well-recognized brand name in both the premium segment of the river cruising and ocean cruising markets. Going into the coronavirus crisis, all three of the big cruise companies were in great financial condition with solid profits and lots of valuable assets -- most notably their ships -- that they could pledge as collateral when raising new capital. The announcement came two days after the company missed a 3.7 million euro payment of fees related to the construction of certain ships. Not that I believe those rumors, but why do you feel protected by using a credit card to pay for a cruise over a year away? While some cruise liners suggest that Factors that could lead to a downgrade include deterioration in the company's liquidity profile, updated expectations for a weaker recovery in 2021 or if there are indications that the company is not on a path to restoring leverage to a sustainable level. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). 7. # End WordPress. MOODY'S CREDIT RATINGS,ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. If one has ever worked at a company that has had financial problems, the employee often knows even with out being the one that looks at the books. When necessary, guests and their travel advisors will be notified directly and this page will be updated. decided to stop their river boat operations. 2 and 3 respectively. According to them the cruise line lost their major financial backer. Heck - I think many of us were surprised when Peter Desilmann (sp?) I try to create the best news and information specifically for cruise passengers taking cruises to and from Dubai (where I live) and South Africa (where I was born). Viking Ocean Cruises was voted Best Large-Ship Ocean Cruise Line by Travel + Leisure readers in the 2016 Worlds Best Awards. To the extent permitted by law, MOODY'S and its directors, officers, employees, agents, representatives, licensors and suppliers disclaim liability for any direct or compensatory losses or damages caused to any person or entity, including but not limited to by any negligence (but excluding fraud, willful misconduct or any other type of liability that, for the avoidance of doubt, by law cannot be excluded) on the part of, or any contingency within or beyond the control of, MOODY'S or any of its directors, officers, employees, agents, representatives, licensors or suppliers, arising from or in connection with the information contained herein or the use of or inability to use any such information. There is no defense against the "Internet disease," the only defense is- insurance, as has been mentioned. We want to hear from you. I have been considering taking a christmas markets cruise this winter. Overall, the major cruise lines all have Current Ratios under 1 into a tightening monetary environment. Three ships operated by Viking Cruises, the company that headed the Donahues cruise, are restricted and remain under investigation for COVID-19 outbreaks, according to the CDC. Sometimes entire itineraries are having to be reworked on short notice due to unexpected changes to countrywide travel restrictions. We are protected by our credit card company against default by the vendor. You can contact me at shaun(at)cruisearabiaonline.com. Our first Viking Cruise is March 1 (northern lights) and we used credit from a canceled trip in March 2020 to book our flight to London (before the credit expired). Hi, Just returned last month from a River Cruise on another company (not Viking), had a wonderful time. The company did not disclose its current cash position. Even the cruise director on the ship I was on said when asked that she had heard this so I feel the talk was real, not just a rumor. If you see Viking there, then that's a red flag! The company has had to cancel many of its voyages and refund customers, My comment here would relate to the "Internet phenomenon," which on some forums I've visited (check a Disney forum, for example) approaches the level of an epidemic disease. They don't publish their quarterly results. I realize that if I take out trip insurance ( don't know if I would buy there's under the circumstancs) and use my credit card to pay for the trip I would have some recourse, but I really want to go and would hate to be disappointed at sailing time. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity. Following the "-if there's smoke-" principle, people who were completely unconcerned before suddenly start thinking that if there are that many people asking questions, there has GOT to be something to it, so they join the Greek Chorus. The negative outlook reflects Viking's high leverage and the uncertainty around the pace and level of recovery in demand that will enable the company to de-lever to around 6.5x. All rights reserved. Dream Cruises is currently building the 208,000-gross ton Global-class cruise ship Global Dream, which will feature the worlds longest roller coaster on a cruise ship.
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