Summit Cruise Cancelled Due to Pod Bearing Issue

Celebrity Cruises has cancelled its June 3 cruise on the Summit and shorted the previous sailing by one day to replace a radial-bearing unit in the ship’s starboard pod.

The cancelled and modified sailings are expected to negatively impact Royal Caribbean Cruises’ Q2 earnings by approximately $0.04 to $0.05 per share.

Q2 earnings are now expected to be in the range $0.50 to $0.55.

This is the 10th pod incident for a Millennium-class ship.

Royal Caribbean’s $300 million lawsuit against the manufacturer is still ongoing.

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