royal caribbean cruises

Royal Caribbean Chairman Richard Fain remains the highest paid executive in the cruise industry. 

Mr. Fain is the highest paid cruise executive for the second year in a row. Mr. Fain was paid $13,343,413 last year (2017), an increase of nearly three million dollars, from $10,405,684 in 2016. 

Royal Caribbean enjoyed a record earnings year in 2017.

The Miami-based cruise line just reported strong first quarterly returns for 2018 – net income of RCCL Chairman Richard Fain$218,700.000 (million), revenues of $2,027,000,000 (billion) and passenger ticket revenues of $1,425,000,000 (billion). 

Financial records also reveal that Mr. Fain sold 20,000 shares of RCL stock two weeks ago. In a transaction dated Friday, April 13th, he sold 17,500 shares of stock at an average price of $114.84, and 2,500 shares at an average price of $115.40 for a total transaction of nearly  $2,300,000.00. Following the sale, SEC records reflect that the chief executive officer now own 882,537 shares of the company’s stock, valued at over approximately $100,000,000. 

Royal Caribbean is the leader of the "over-sized" cruise ship club (think Oasis of the Seas, Allure of the Seas, Harmony of the Seas) with its newest billion-dollar Oasis-class ship (and largest cruise ship in the world) Symphony of the Seas which was delivered from the shipyard last month.

But can the cruise business support the many huge ships coming on line? Skift just published Royal Caribbean Ups Forecast But Wall Street Worries About Too Many Ships.

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Interested in this issue? We suggest reading Fearless Fain, Royal Caribbean’s CEO.

Photo Credit: Carmen Molino YouTube – "Symphony of the Seas delivery. Richard Fain talks to the audience."

A local news station in Philadelphia reports on a recent gastrointestinal outbreak on the Royal Caribbean Anthem of the Seas.

ABC-6 reports that a family from Philadelphia returned from a 7-night cruise aboar the Anthem which departed Cape Liberty, New Jersey on Saturday, November 4th. The news stations reports that on the second day of the seven day cruise, "rumors of the virus started circulating . . . and started to spread fast. Workers could be seen spraying the narrow hallways, but it was apparently spreading like wildfire." 

A newlywed woman and her husband and several of her family members became ill with symptoms of a gastrointestinal virus. 

The family complained to the news stations that "some hand sanitizing stations … didn’t have any Royal Caribbean Norovirussanitizer available to us, there were out of soap at certain sinks, there were no sanitizing stations at the elevators . . the ship’s managers (didn’t take) enough measures to stop the spread of the virus, which is not airborne but rather comes from personal touch with others or germs left on surfaces."

Royal Caribbeaan confirmed that "were a total of 98 reported cases of gastro-intestinal illness symptoms, which represents 1.9 percent of the 4,905 guests and crew onboard." 

The CDC’s Vessel Sanitation Plan requires cruise ships to send a separate notification when the GI illness count exceeds 2% of the total number of passengers or crew onboard. Cruise ship outbreak updates are posted on the CDC website only when 3% or more of the passengers and crew report symptoms to the ship informary during the cruise.

Because there were less than than 2% of the passengers and crew members reported ill during the cruise, the CDC will not list the outbreak on its official cruise ship Outbreak Updates page.

A couple of take-aways from this article. First, how many passengers did not dislose their symptoms to the ship doctor?

Secondly, there is no indication that the outbreak is related to norovirus, which cannot be confirmed until there is scientific analysis of the infected passengers’ stool samples, which will not be done because the CDC is not involved.

Thirdly, the local news station is wrong that GI virus outbreaks can’t occur through airborne transmission. Two years ago, in an article titled Norovirus Spreads by Air on Cruise Ships, I discussed that researchers have concluded that norovirus can spread by air, according to a publication in the highly respected Clinical Infectious Diseases.

Finally, don’t call us if you get sick on a cruise. Establising where the virus came from, or that the cruise line was negligent, is virtually impossible to prove, especially since the CDC conducts no epidemiological analysis and sometimes can’t even figure out the source of the outbreak

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Read: Gastrointestinal Outbreak on the Crown Princess, Again.

http://6abc.com/video/embed/?pid=2643100

Medevac CruiseAccording to Florida Today, aircrews from Patrick Air Force Base medevaced an ill passenger from the Royal Caribbean Grandeur of the Seas yesterday.

The Grandeur was en route to to Baltimore, Maryland when the air force base was requested to assist in evacuating a passenger reportedly suffering from appendicitis on the Royal Caribbean cruise ship. The cruise ship was approximately 690 miles off of Cape Canaveral, according to the article. (Although the video information suggests that the ship was about 500 miles from Brevard County). 

The long-range rescue "involved HH-60G Pave Hawk helicopters and 2 HC-130 aerial refueling aircraft" to reach the cruise ship vessel, according to representatives of the 920th Rescue group.

The U.S. Coast Guard was not involved in the operation, according to Coast Guard officials.

According to the article, the passenger was accompanied by his spouse aboard the rescue helicopter, and flown to Holmes Regional Medical Center, in Melbourne Florida, where he reportedly is recovering,

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November 10, 2017 Update: How the Air Force Carried Out a Daring Rescue of an Ailing Cruise Ship Passenger

 

Photo credit: U.S. Air Force photo by Tech. Sgt. Lindsey Maurice via Florida Today.     

https://uw-media.floridatoday.com/video/embed/107462672?placement=embed

 

Richard Fain Adam Goldstein Royal Caribbean CruisesRoyal Caribbean President and Chief Operating Officer (COO) Adam Goldstein (photo, to the right) sold 120,000 shares of his company’s cruise stock on August 2 and 3, 2017.  The stock was sold at an average price of $118.21 for a total sale of $14,185,200.00, according to the SEC.  

This follows the sale of RCL stock by CEO Richard Fain earlier in the week, where he collected $24,406,075.98. Cruise executives Goldstein and Fain, who often sell big blocks of company stock in tandem like this, together sold over $38,500,000 in RCL stock last week. 

Following the sale, COO Goldstein still owns 191,252 shares of RCL stock, valued at $22,607,898.92. The sale was disclosed in a document filed with the SEC

After the sales last week, Mr. Goldstein and Mr. Fain now own over $134,000,000 of RCL stock.

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Photo credit: Royal Caribbean press center.