There were two news stories this past week which prove that the maxim “rich cruise tycoons get richer” remains true while the debt-strapped cruise industry continues to struggle. Business Insider reported that Royal Caribbean Cruises, Ltd. CEO Jason Liberty collected $10,760,000 last year. Meanwhile, crew members on
Norwegian Cruise Line Holdings, parent company of NCL, Oceania Cruises and Regent Seven Seas Cruises, terminated nine percent of its shoreside workforce earlier this week, according to the Miami Herald. NCL did not explain why it was 
necessary to terminate nearly a tenth of its employees, particularly during the holiday season. Meanwhile, NCLH promoted
A number of travel publications are reporting that Norwegian Cruise Line (NCL) is drastically increasing its service charges by an unprecedented 25% for most cabins, effective January 1, 2023. NCL’s new rate for most passenger cabins will increase $4 from the current $16 a cabin to $20 cabin per person per day. NCL’s guests staying
Carnival Corporation CEO Arnold Donald received over $15,000,000 in compensation in 2021, according to MarketWatch. Carnival stock (CCL) had a “two-year decline of 60.4%” while Mr. Donald’s “total compensation increased 35.1% over the past two years” to $15,060,000.
Income for Carnival Corporation #cruise / @CarnivalPLC Chief Executive Officer / CEO Arnold Donald Increased 35% in past two years to over $15,000,000 while CCL stock declined over 60% https://t.co/9DCKw87kOY. Photo via Cruise Industry News pic.twitter.com/w57TOdiUUc
— James (Jim) Walker (@CruiseLaw) February 16, 2022
The Carnival CEO’s income increased
Carnival Corporation CEO Arnold Donald and other top Carnival cruise executives collected millions of dollars more in compensation in 2020 than in 2019 via stock awards, according to a filing with the Securities and Exchange Commission (SEC) last week. Cruise Industry News summarized the compensation in an article titled Carnival Corporation Executives Made More Money
Norwegian Cruise Line Holding’s CEO Frank Del Rio (photo above, via CNBC, in happier times in 2019) collected $17,808,364 in compensation last year, including $12,201,324 in stock awards and $3,600,000 in incentive plan compensation according to SEC filings. His compensation was down from
Royal Caribbean Cruises’ CEO Richard Fain (photo top in happier days) collected $14,358,919 in compensation in 2019, the cruise line announced two weeks ago in a SEC filing.
Two days earlier, Royal Caribbean announced that it was laying off 25% of its workforce in the United States, due
Several MSC crew members state that MSC is attempting to convince them to waive their legal rights to future compensation by signing a repatriation notification document.
MSC recently requested all of its employees on its cruise ships to sign this notification, which states:
“MSC Cruises’ Notification For Crew Members
We care for you,
Cruise Industry News reports that Carnival Corporation recently confirmed in a SEC filing that it had extended CEO Arnold Donald’s employment agreement for an additional year.
You can see the original terms of his three year employment plan filed with the SEC in 2013 here.
Mr. Donald collected $9,373,908 in 2015.
The SEC
Yesterday was the "Day of the Seafarer," which is sponsored by the International Maritime Organization ("IMO") on June 25th every year. It was interesting to watch the cruise industry’s trade organization, the Cruise Line International Association ("CLIA"), promote the day on it’s social media pages like Twitter and Facebook.
Crew members on cruise
Carnival Cruise Line is hiking its gratuity charge by nearly 8 percent, according to an article in Travel Agent Central today. The charge will rise to $12.95 per person, per day for passengers in most cabins, or $13.95 per person, per day for passengers staying in suites, effective September 1, 2016. There is a question
According to the SEC, Royal Caribbean CEO Richard Fain (below right) sold 87,488 shares of his RCL stock at an average price of $76.41, for a total value of $6,684,958.08.
After the transaction, cruise executive Fain still owns 1,139,613 shares of his cruise line stock valued at approximately $87,077,829.33.
I wrote a similar article
This weekend I read an interesting article in the Springfield Register-Guard about Royal Caribbean Cruises’ plans to add employees at its call center in Oregon.
There are currently over 700 employees at the call center in Oregon, according to the newspaper. The cruise line is planning to add another 220 mostly full time employees.
What
Travel Weekly and Skift recently reported that the new CEO of Carnival Corporation, Arnold Donald, will receive the following in compensation:
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$1 million base salary to start, with reviews by the board of directors to increase or decrease his salary;
A fixed bonus of $1.125 million for 2013;
A one-time award of performance-based restricted stock
Cruise Law News from time to time will feature a comment to our articles by one of our readers.
Comments by crew members are often poignant. The cruise industry’s current state of affairs places tremendous pressure on ship employees from Carnival, Royal Caribbean and other cruise lines. Hours are longer notwithstanding the lofty goals of
Cruise lines have mastered various way to steal the tips which are intended by passengers to compensate waiters and stateroom attendants. Carnival’s P&O Cruises implemented a policy this year to withhold forwarding the tips paid by cruise passengers if the crew member’s performance falls below a 92% rating as determined by management. Read Profits Over
Miami’s Daily Business Review reports today that Micky Arison paid himself a "special year-end dividend" of $90,000,000. Yes, that’s 90 million dollars.
Cruise CEO Arison is not the only executive in Florida lining his pockets, as the Review states that other executives in Florida are paying themselves dividends in the range of $250,000 to
Two weeks ago a television program in the U.K., "Cruises Undercover: The Truth Below Deck," revealed the harsh working conditions aboard cruise ships operated by Royal Caribbean Cruises’ subsidiary, Celebrity Cruises. The difficult working conditions and low pay are almost unimaginable by U.S. standards: 12 plus hour days, 7 days a week, 30
