Royal Caribbean Likely to Raise More Cash

Quantum of the Seas

Royal Caribbean Cruises still needs cash, according to Wells Fargo Analyst Tim Conder, in a recent note to investors.

“We believe (Royal Caribbean Cruises) still needs to raise an additional $2.5B-$3B to weather a ‘no sail’ scenario through the end of 2021,” Conder wrote. “We expect the raise will likely occur over the next two to three weeks and lean toward convertible debt and equity.”

Up to $3 billion would go along with a recent note offering from the company that raised $3.3 billion that was used to repay a secured loan term.

The company currently has roughly $2.3 billion of cash on hand, giving it 10 months of liquidity with suspended operations, according to Conder. 

Ships in cold lay up are estimate to run a cost of $3 million per month, per vessel; while warm lay ups could cost upwards of $5 million per month, per ship.

Cruise Industry News Email Alerts

Cruise Industry News Email Alerts



Get the latest breaking cruise newsSign up.


54 Ships | 122,002 Berths | $36 Billion | View

New 2024 Drydock REPORT


  • Mkt. Overview
  • Record Year
  • Refit Schedule
  • 120 Pages
  • PDF Download
  • Order Today
New 2024 Annual Report


  • 2033 Industry Outlook 
  • All Operators
  • Easy to Use
  • Pre-Order Offer
  • Order Today