Cruise stocks slipped on Wednesday after losing a battle with environmental groups over new regulations.
The Cruise Lines International Association has worked to ease the restrictions that cruise lines would face when the new regulations come into effect. However, environmental lobbyists have pushed back against maintaining these regulations.
While many cruise lines are already promising to reduce carbon emissions, the new regulations would put more pressure on them to do so more quickly. Arguments against the cruise lines included that relaxing regulations would only increase emissions while saving those companies money.
So what exactly do the new regulations do? They require each ship to have a carbon intensity indicator. This is measured by the CO2 output of the dive per capacity and per nautical miles traveled. The problem is that ships stay longer in port. This could skew data and cause ships to stay at sea longer, reports Looking for Alpha.
Let’s see how this affects cruise stocks below!
Cruise Stocks Slip Today
- Carnival (NYSE:CCA) the stock is down 3.9% on Wednesday morning.
- Royal Caribbean Cruises (NYSE:RLC) shares are down 3.7% at the time of this writing.
- Norwegian cruise line (NYSE:NCLH) the stock is down 3.3% since this morning.
Investors looking for more stock market news today have come to the right place!
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As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
Article printed by InvestorPlace Media, https://investorplace.com/2022/06/cruise-stocks-news-why-are-ccl-rcl-and-nclh-sliding-lower-today/.
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