10 things your cruise line won’t tell you Navigating a sea of potential sickness, danger and debt

Edison at WSJ. 1. “Our ships might sink, but we won’t.“

It’s been a tough couple of seasons for the cruise ship industry. First, the Costa Concordia, a 3,800-passenger ship operated by a unit of Carnival Corp., ran aground off the coast of Italy in January 2012. Thirty-two people were killed, while images of the abandoned ship, lying incongruously on its side. beside a picturesque beach town, flashed around the world.

10 things cruise lines won’t tell you Market Watch
Costa Concordia You tube

Costa Concordia captain guided by ‘divine hand’

MiamiHerald.com
Francesco Schettino, the captain of the Costa Concordia ship which ran aground killing more than 30 people, claims a “divine hand” guided him during the disaster, preventing greater tragedy, reported Travel Mole, a British industry newsletter. In a letter explaining his version of events, published in Italy’s La Corriere della Sera newspaper, he defended his actions after the ship struck rocks and capsized off the coast of Tuscany in January.

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Lancashire Holdings rues Costa Concordia losses

ShareCast
LONDON (SHARECAST) – Insurance group Lancashire Holdings’ performance was hurt by the Costa Concordia shipwreck in the first quarter, while pay costs have rocketed. The main way insurance companies are judged is by something called the “combined ratio”
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Maritime Industry, Marine Insurance, Difficult

MarineLink
After an inauspicious start, 2012 will be another difficult and uncertain year for the maritime industry faced with the aftermath of the Costa Concordia, further problems in the Euro zone, pirate attacks and increased sanctions. The latest report reveals the Hull market is in a state of flux following the Costa Concordiadisaster in January. Some underwriters in the London insurance market, which will bear the majority of the estimated USD 500m hull claim, are adamantly refusing premium reductions or even flat renewals.

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