Norwegian Cruise Line (NCL) announced today that the company’s current fuel supplement will no longer apply to bookings made on or after November 10, 2008 for sailings that depart on or after January 1, 2010.
For guests booked prior to November 10, 2008 for sailings that depart on or after January 1, 2010, the company has established the following guidelines for the refund of fuel supplements paid:
The criteria for refund will be determined on a quarterly basis. Should the closing price on the NYMEX (New York Mercantile Exchange) of West Texas Intermediate fuel be below $65 per barrel two weeks prior to the beginning of the calendar quarter (dates specified below), the company will refund fuel supplements paid in the form of an on-board credit.
For guests booked on sailings that depart in 2009 (on or after January 1, 2009 and that depart on or before December 31, 2009), regardless of booking date, the company has established the following guidelines for the refund of fuel supplements paid:
· The criteria for refund will be determined on a quarterly basis. Should the closing price on the NYMEX (New York Mercantile Exchange) of West Texas Intermediate fuel be below $65 per barrel two weeks prior to the beginning of the calendar quarter (dates specified below), the company will refund fuel supplements paid in the form of an on-board credit.
The dates on which the price of West Texas Intermediate fuel will be measured and the quarters during which refunds could apply are:
Fuel Price Determination Date Quarter of Possible Fuel Supplement Refunds
December 18, 2008 First Quarter 2009
March 18, 2009 Second Quarter 2009
June 17, 2009 Third Quarter 2009
September 17, 2009 Fourth Quarter 2009
December 18, 2009 First Quarter 2010
March 18, 2010 Second Quarter 2010
June 17, 2010 Third Quarter 2010
September 17, 2010 Fourth Quarter 2010
December 17, 2010 First Quarter 2011
Determination of what quarter a sailing is in will be based solely on the sailing date. The entire cruise will be considered to be part of the quarter that the sailing date originates in.
These new fuel supplement policies apply to guests booked through all NCL offices around the world.
The company is implementing these changes in response to the recent decrease in global fuel prices. NCL will continue to closely monitor global fuel prices to assess whether a reinstatement of the fuel supplement will be necessary.
Norwegian Cruise Line (NCL) is the innovator in cruise travel with a 42-year history of breaking the boundaries of traditional cruising, most notably with the introduction of Freestyle Cruising which has revolutionized the industry by allowing guests more freedom and flexibility.
Today, NCL has the youngest fleet in the industry with 12 purpose-built Freestyle Cruising ships, providing guests the opportunity to enjoy a relaxed cruise vacation on the newest, most contemporary ships at sea.
NCL is presently building a new third generation Freestyle Cruising project known as F3, for delivery in 2010.
