Investors Hangout Stock Message Boards Logo
  • Mailbox
  • Favorites
  • Boards
    • The Hangout
    • NASDAQ
    • NYSE
    • OTC Markets
    • All Boards
  • Whats Hot!
    • Recent Activity
    • Most Viewed Boards
    • Most Viewed Posts
    • Most Posted
    • Most Followed
    • Top Boards
    • Newest Boards
    • Newest Members
  • Blog
    • Recent Blog Posts
    • Recently Updated
    • News
    • Stocks
    • Crypto
    • Investing
    • Business
    • Markets
    • Economy
    • Real Estate
    • Personal Finance
  • Market Movers
  • Interactive Charts
  • Login - Join Now FREE!
  1. Home ›
  2. Stock Message Boards ›
  3. User Boards ›
  4. The Bridge Message Board

Cruise line companies have sold their massive ship

Message Board Public Reply | Private Reply | Keep | Replies (0)                   Post New Msg
Edit Msg () | Previous | Next


Post# of 127136
(Total Views: 198)
Posted On: 01/28/2023 9:34:28 AM
Avatar
Posted By: Steel Reserve
Cruise line companies have sold their massive ships for scrap overseas after the pandemic wrecked the industry. Here's a look inside ship-breaking yards.



This shipyard in western Turkey has seen an influx of cruise ships because of the pandemic.

Cruise lines like Carnival decided to sell some older ships after losing billions in 2020.

Thousands of workers spend as much as a year in dangerous conditions breaking down just one ship.

The crusie line industry lost billions of dollars by the end of 2020



The workers at the Aliağa ship breaking yards in western Turkey usually demolished only a few dozen cargo ships a year. However, after the COVID-19 pandemic hit the cruise-line industry, the demolition site was inundated with ships.

The industry lost billions of dollars by the end of 2020, with Carnival Cruise Line losing more than $4 billion in the second quarter of 2020.

The pandemic caused Carnival, Costa, and Pullmantur Cruise Lines to send ships to be broken down in Turkey



Carnival Cruise Line sold six ships for scrap, which were taken to the Aliağa ship breaking yards. The job of breaking down these large ships is one of the most dangerous and the added load has only made it harder.

"The owners could not find customers so they sent their ships to Aliağa," Emre Aras, a project manager at Avsar Gemi Sokum told Insider.

The process starts with captains coordinating with harbormasters to beach the ships in Turkey.

"Then the bowl front of the vessel is grounded on the shore while the stern still floats," Aras said.



It takes thousands of workers to break down a single cruise ship.


While the boat is being inspected, the crew figures out how to dismantle the vessel. Around 2,500 shipbreakers work to remove valuable material from the ships, emptying them out deck by deck mostly by hand.

"I can easily say that cruise vessels are the hardest vessel type to dismantle because, you know, there are hundreds of rooms on board," Aras said.

Workers then move on to dismantling things like pools and gyms, as well as stripping walls, windows, floors, and handrails.



The job is one of the most dangerous in the world, exposing workers to a variety of risks.



Those involved in this process risk a lot to do it, Nicola Mulinaris, a communication and policy officer at NGO Shipbreaking Platform told Insider. Mulinaris explained that workers run the risk of falling from heights, inhaling toxic gases, getting hit by falling objects, and deal with fire hazards from instruments like blow torches.

Not to mention, that these shipbreakers work in extreme weather conditions during both the summer and winter months. Additionally, any mistakes could cause damage to the environment and ruin millions of dollars worth of parts that need to be maintained in a specific condition to be reused.



The Aliağa yards have been improved in recent years to promote better safety.



Dozens of shipyard workers have died or gotten injured in recent years in Southeast Asia. However, while conditions at the yard in Turkey were just as bad in the late 1990s by the early 2000's reports on the unsafe conditions forced changes in policy. By 2018, Aliağa yards began to comply with the European Union Ship Recycling Regulation, which meant the shipyard received improvements to limit environmental hazards while dismantling ships.

"Practices have been improved, but there are still concerns related to...the long-term impact on the health of the workers due to exposure to toxic substances," Mulinaris told Insider, adding that while some workers may not know these risks, others take the jobs for the increased pay.

Cruise ships take a long time to dismantle but can bring in huge profits



These ships could take a whole year to dismantle, Aras told Insider, howere the materials removed from them typically sell fast, and the metals from the ship could bring in $4 million in profits when they're recycled for future construction.

"You can make good money because there are lots of things on board, for second hand sales," Aras said.



https://www.youtube.com/watch?v=WMor47rIcl8
https://www.yahoo.com/news/cruise-line-compan...47470.html










(1)
(0)








Investors Hangout

Home

Mailbox

Message Boards

Favorites

Whats Hot

Blog

Settings

Privacy Policy

Terms and Conditions

Disclaimer

Contact Us

Whats Hot

Recent Activity

Most Viewed Boards

Most Viewed Posts

Most Posted Boards

Most Followed

Top Boards

Newest Boards

Newest Members

Investors Hangout Message Boards

Welcome To Investors Hangout

Stock Message Boards

American Stock Exchange (AMEX)

NASDAQ Stock Exchange (NASDAQ)

New York Stock Exchange (NYSE)

Penny Stocks - (OTC)

User Boards

The Hangout

Private

Global Markets

Australian Securities Exchange (ASX)

Euronext Amsterdam (AMS)

Euronext Brussels (BRU)

Euronext Lisbon (LIS)

Euronext Paris (PAR)

Foreign Exchange (FOREX)

Hong Kong Stock Exchange (HKEX)

London Stock Exchange (LSE)

Milan Stock Exchange (MLSE)

New Zealand Exchange (NZX)

Singapore Stock Exchange (SGX)

Toronto Stock Exchange (TSX)

Contact Investors Hangout

Email Us

Follow Investors Hangout

Twitter

YouTube

Facebook

Market Data powered by QuoteMedia. Copyright © 2025. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges).
Analyst Ratings & Earnings by Zacks. RT=Real-Time, EOD=End of Day, PD=Previous Day. Terms of Use.

© 2025 Copyright Investors Hangout, LLC All Rights Reserved.

Privacy Policy |Do Not Sell My Information | Terms & Conditions | Disclaimer | Help | Contact Us