How to choose a Norwegian cruise stock


Norwegian Cruise Line has announced it will stop operating a fleet of Norwegian cruises from next year due to a decline in passenger numbers.

The company said in a statement on Wednesday that the new fleet would be “completely eliminated” by 2021.

The Norwegian cruise line, which has operated over 10,000 ships in the Pacific Ocean, has a fleet that is now operating around 2,500 ships, compared to around 7,000 at the end of last year.

Norwegian Cruise Lines has a total of 2,973 vessels in service, with the number of cruise ships in service in Norwegian waters rising steadily over the past five years.

The latest vessel that will be cut is the 740-metre, 9,000-tonne Norra.

The cruise line had recently announced plans to reduce the number by one ship to 5,000 from the current 4,000.

“We are very pleased to have achieved our goal to close our cruise fleet,” Norwegian Cruise line CEO Kristian Lundström said in the statement.

“Our ships have not lived up to our expectations and we are very disappointed in the performance of the fleet.”

The company will also lay off 1,000 workers and cut its workforce by 15 per cent, the statement added.

The current fleet of 5,600 ships will not be able to continue operating due to the current global economic crisis, it said.

The cuts were announced as Norwegian Cruise lines has been struggling to retain passengers following the closure of its flagship ships, the Norwegian Empress, and the Princess Anne.

The Norra, a 740 metre vessel, was the second of three new Norwegian cruisers to be decommissioned this year.

The Princess Anne was decommissioning in May after being sold to a Chinese company for $4.5bn.

The Empress, the largest Norwegian vessel, will also be decomissioned next year.