Cruise ships, it seems, are like ducks—elegant and effortless above the water, fighting like crazy to stay afloat beneath.
On the surface, the industry is finally steaming ahead after over a year at bay: The world has reopened, occupancy limits have relaxed and bookings are at or above prepandemic levels. Carnival Royal Caribbean Group and Norwegian Cruise Line Holdings are all eyeing a near-term return to profitability this year—a milestone they are hoping will reignite investor interest, with their shares down an average of over 45% over the past six months.
