Tue 28 Jun 2016 07:15

Cruise bunker buyers slump on post-Brexit uncertainty


Share prices hit by the possibility of economic uncertainty over the summer.



Concerns over economic uncertainty after the UK's Brexit vote affected the financial performance of some of the biggest buyers of marine fuel in the cruise line industry yesterday.

Low-cost airline EasyJet stated that the fallout of Brexit may lead to 'additional economic and consumer uncertainty' this summer. A crucial time for cruise operators, the possibility of a period of uncertainty has triggered volatile trading sessions and share prices have been hit.

Companies affected included Carnival Corporation, the world's biggest cruise line operator, which is forecast to purchase over 3.2 million tonnes of bunker fuel this year.

Another leading cruise company, Royal Caribbean, was also hit. The company has bought around 1.4 million tonnes of marine fuel over the last 12 months.

A summary of yesterday's share price figures has been provided below.

Norwegian Cruise Line Holdings Ltd (NCLH)
Price: 38.21 -2.17 (5.37%)
Day's Range: 38.17 - 40.04
52wk Range: 37.01 - 64.27
Exchange: NASDAQGS

Royal Caribean (RCL)
Price: 65.95 -4.13(5.89%)
Day's Range: 65.48 - 68.88
52wk Range: 64.21 - 103.40
Exchange: NYSE

Carnival Corporation (CCL)
Price: 43.64 -2.01(4.40%)
Day's Range: 43.34 - 44.10
52wk Range: 40.52 - 55.77
Exchange: NYSE

Lindblad Expeditions Holdings Inc. (LIND)
Price: 8.77 -0.22(2.45%)
Day's Range: 8.69 - 9.40
52wk Range: 8.69 - 11.40
Exchange: NasdaqCM

Image: The world's largest cruise ship, Harmony of the Seas.

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Effective management strategies and insights for evolving fuel use.

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Share purchase agreement to buy all shares from Golar LNG and Aequitas.

Seaspan Energy's 7,600 cbm LNG bunkering vessel, s1067, built by Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. Bureau Veritas supports launch of CIMC SOE's LNG bunkering vessel  

Handover of Seaspan Energy's cutting-edge 7,600-cbm vessel completed.


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