Russia’s invasion of Ukraine: Norwegian Cruise mulls alternatives to St. Petersburg port
About 50 Norwegian Cruise Line sailings anchor at the Russian port city of St. Petersburg over the summer season
Norwegian Cruise Line Holdings Ltd said on Thursday it was looking at alternative ports around the Baltic region for its scheduled sailings over the summer following Russia’s invasion of Ukraine.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NCLH | NORWEGIAN CRUISE LINE HOLDINGS LTD. | 27.25 | +0.12 | +0.46% |
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Ukraine’s forces battled Russian invaders as troops poured across its borders by land, air and sea, in the biggest attack on a European state since World War Two.
The U.S. cruise line said roughly 5% of its total capacity, or about 50 sailings, anchor at the Russian port city of St. Petersburg over the summer season.
The cruise ship Norwegian Gem operated by Norwegian Cruise Line arriving at Port Canaveral in Florida. (iStock / iStock)
The company said in the worst case scenario, if its ships are unable to make stops at St. Petersburg or surrounding areas, there are several other ports in the Scandinavian region that it has the ability to call on.
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"It is disappointing because St. Petersburg is one of the crown jewels of the Scandinavia itineraries. But certainly, there are alternatives," Chief Executive Officer Frank Del Rio said on a post-earnings call.
It was "not a huge impact," company executives said.