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Cuba - Cruise Critic Message Boards
I'm wondering if the easing of the travel restrictions will allow Oceania to add Cuba to their itineraries.
The news release is a bit vague and I'm not sure whether it only eases travel for people with relatives in Cuba or whether it opens things up for the rest of us.
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Quote: : I'm wondering if the easing of the travel restrictions will allow Oceania to add Cuba to their itineraries.
The news release is a bit vague and I'm not sure whether it only eases travel for people with relatives in Cuba or whether it opens things up for the rest of us.
Easy answer. If a cruise line visits Cuba, the US Government will not allow it to have an office or sell tickets in the USA.
Sorry.
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All of the news articles I read in the past week referred only to easing travel restrictions for those with relatives in Cuba.
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Quote: : Easy answer.
If a cruise line visits Cuba, the US Government will not allow it to have an office or sell tickets in the USA.
Sorry.
Up until now. Phlewt is asking what the future holds, now that the Obama administration has announced easing of the travel and money restrictions.
According to the announcement I heard, it is only an easing for those folks who already have permission to visit relatives -- they will be able to go more often and send more money.
But, I agree it's a good question, because I see the ease of restrictions as the first step in a carefully choreographed series of changes in our policy.
It's a situation I support, as I think the restrictions have been useless and perhaps even counterproductive.
When I heard about the easing of restrictions, I had the same thought about Oceania, especially because Frank Del Rio has a Cuban heritage.
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The stock market reacted to today's news by sending Royal Caribbean [owner of Celebrity] stock up 11.4% and Carnival stock up 2.3% on the possibility of cruises to Cuba resuming.
US-Cuba policy shift could open market for many companies 04/13/2009 07:11 PM EDT Copyright 2009 Reuters By Leah Schnurr
NEW YORK, April 13 (Reuters) - The relaxation of some restrictions between the United States and Cuba on Monday is a step toward a policy shift that would benefit companies from cruise lines to freight operators, said the founder of a fund that bets on such companies.
For the past 15 years, Thomas Herzfeld's Herzfeld Caribbean Basin Fund has been investing in companies in the Caribbean that stood to see a gain in business if the 47-year-old trade embargo with Cuba was lifted.
Shares of the fund surged 41.1 percent to $7.97 after U.S.
President Barack Obama lifted limits on family travel and money transfers by Cuban Americans in the United States to Cuba.
For details, see Please log on to Vanguard website for more stories related to this..
"I think everyone wants the embargo lifted, but it's not going to happen unless Cuba takes the positions the U.S.
Has requested," said Herzfeld, president and founder of Thomas J.
Herzfeld Advisors, Inc, which runs the fund.
Herzfeld said he expects the travel restrictions on all Americans to be lifted shortly, which would particularly benefit cruise operators.
Indeed, Monday's news drove shares of Miami-based cruise operator Royal Caribbean up 11.4 percent to $11.23 in New York, while the stock of Carnival Corp , the world's largest cruise ship operator, rose 2.3 percent to $26.20.
Herzfeld said Royal Caribbean and Carnival could see a double benefit if they were allowed to set sail for Cuba.
"Half of the revenues of Royal and Carnival come from the Caribbean.
We believe the opening of Cuba could actually double their business in the Caribbean because not only will people travel to Cuba, but they'll combine it with a trip to the eastern Caribbean or western Caribbean," Herzfeld said.
The fund has its largest investment in Seaboard Corporation , which, along with a large pork business, runs a containerized shipping service between the United States, the Caribbean Basin and Central and South America.
HOLA, WESTERN UNION!
Western Union , the world's largest payment transfer company, could also benefit from an easing of limits on money transfers as Cuban Americans send more money home to their families.
Herzfeld said the fund originally invested in companies that would do well regardless of whether the trade embargo was scrapped.
But the gathering feeling of a policy change from Washington has prompted the fund to invest in companies that may not be making money now, but have a business plan for Cuba.
"With the election of President Obama, it seemed to many of us there was a much greater opportunity now than under any other U.S.
President for the embargo to be lifted," Herzfeld said.
However, Herzfeld noted that Cuba is going to have to make efforts to implement long-demanded democratic reforms before the trade embargo is banished altogether.
"The first major announcement from Cuba I would like to see would be the release of political prisoners.
That would really break the logjam." (Editing by Jan Paschal)
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Investors cheer U.S.
Move to ease curbs on Cuba 04/13/2009 07:19 PM EDT Copyright 2009 Reuters By Euan Rocha and Deepa Seetharaman
TORONTO/NEW YORK, April 13 (Reuters) - Investors in companies with Cuban assets, or the potential to expand into the country, cheered on Monday after the White House said it would ease some of the restrictions it has imposed on the Communist-run island.
Shares of one of the island's large players, Canada's Sherritt , surged, as the mining and energy company has assets in Cuba it may choose to monetize.
Cruise ship operator Royal Caribbean and rival Carnival Corp also closed higher as investors bet the Obama administration's move would eventually pave the way for more extensive travel.
The White House said it will allow U.S.
Telecommunications companies to seek licenses in Cuba, a move that could open up a new and largely untapped market for U.S.
Operators, which are facing slowing growth at home.
But shares of the major U.S.
Telecommunications companies failed to react as analysts voiced skepticism about Cuba opening up its telecom markets.
The announcement signaled a change in Washington's attitude toward Cuba and raised hopes that the U.S.
Government might take further steps and even lift its trade embargo on Cuba.
It follows a long history of U.S.
Sanctions against Cuba after Fidel Castro took power on Jan.
1, 1959.
News of the eased restrictions on U.S.
Telecommunications companies sent Sherritt shares soaring on hopes that the U.S.
Might make similar concessions for companies in the energy and mining sectors.
Sherritt's stock closed up 24.5 percent.
"Every time (there's been a rumor) that (Fidel) Castro has died, which has been half a dozen times in the last 10 or 15 years, Sherritt's shares go up about 3 percent, so clearly the market thinks that an easing of U.S.
Restrictions on Cuba is good for Sherritt," said Salman Partners analyst Raymond Goldie.
"What's backing that up is ...
That Sherritt may find buyers for some of their Cuban assets, particularly the oil and gas ones," added Goldie.
Fidel Castro was president of Cuba until last year, when poor health forced him to cede power to his brother Raul.
HEADING SOUTH?
The easing of travel restrictions boosted the shares of cruise operators as investors bet the measure would eventually pave the way for their ships to dock in Cuban ports.
The travel industry has long seen Cuba, just 90 miles from the United States, as an ideal destination for American tourists.
A Cuban port could breathe new life into the Caribbean -- the largest market for both Carnival and Royal Caribbean, which sail to the Bahamas, Jamaica and Puerto Rico.
"There hasn't been much new in the Caribbean markets so you can add it as something new to make it more attractive," said Raymond James cruise analyst Joseph Hovorka.
Royal Caribbean shares closed up 11.4 percent at $11.23 on the New York Stock Exchange, while those of Carnival edged up 2.3 percent to $26.20.
FURTHER STEPS NEEDED
Still, analysts remained cautious about the prospects of expanded travel, as the measures so far apply only to families with ties to Cuba and infrastructure to receive ships at Cuban ports may take years to develop.
Despite U.S.
Telecommunications companies appearing to be the ones with the most to gain in the near term, shares of U.S.
Telecom majors were unmoved by the Obama government's announcement.
"First of all, Cuba has to open up the communications market, which is a bigger hurdle," said Stifel Nicolaus analyst Chris King.
King also said that U.S.
Telecommunications companies would likely face stiff competition if any Cuban licenses came on the market as it is a largely untapped cellphone market, where private citizens were only very recently allowed to own cellphones.
"This gives (U.S.
Companies) the option, but they're not going to be the only ones applying for the licenses," he said.
U.S.
Companies that would likely look at expanding to Cuba could include U.S.
Market leader Verizon Wireless, owned by Verizon Communications and Vodafone Group Plc , as well as its next biggest wireless rival, AT&T Inc .
Smaller operator Clearwire Corp may also be interested if it were to get funding, said King.
Other bidders would most likely include companies such as Mexico's America Movil , Latin America's top cellphone operator, and Digicel Group, an Irish-owned operator with a strong presence in the Caribbean.
"Clearly, if the Obama administration is taking the first step and lightening up restrictions, the hope is this will provide the Cuban government with the opportunity to take steps in the openness direction," said King.
(Additional reporting by Sinead Carew;
Editing by Patrick Fitzgibbons and Steve Orlofsky)
Today's Snapshot: $11.23 +1.15 (+11.41%) 7,181,609 $9.66-11.49 4.19 Last Today's Change Today's Volume Day Range P/E
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Quote: : All of the news articles I read in the past week referred only to easing travel restrictions for those with relatives in Cuba.
I Quote: myself to add the following to my earlier post: I just read today's local newspaper, and today's article states that bills easing restrictions on travel to Cuba by all US travelers have been introduced in both the Senate and the House.
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My feelings about traveling to Cuba match those regarding travel to China and Vietnam.
Would not spend a dime in any of those countries!Just because we trade with the latter two does not justify spending my travel dollars there.
Let the indignant responses commence.
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Quote: : My feelings about traveling to Cuba match those regarding travel to China and Vietnam.
Would not spend a dime in any of those countries!Just because we trade with the latter two does not justify spending my travel dollars there.
Let the indignant responses commence.
No objection from me;
I always tell people discussing their trips to China that I will be making my first visit there after I marry my next husband!
(Only together with my first one 33 years so far.)
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Quote: : My feelings about traveling to Cuba match those regarding travel to China and Vietnam.
Would not spend a dime in any of those countries!Just because we trade with the latter two does not justify spending my travel dollars there.
Let the indignant responses commence.
You don't say why you don't want to see these locations.
We have been to Vietnam and China and found them both to be very interesting and full of wonderful attractions.
We are hoping that we will have an opportunity to see Cuba one of these days as well.
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Quote: : You don't say why you don't want to see these locations.
We have been to Vietnam and China and found them both to be very interesting and full of wonderful attractions.
We are hoping that we will have an opportunity to see Cuba one of these days as well.
Just guessing here, but we imagine that Leonid objects on political and social grounds, very much as one might choose to boycot South Africa, which is also gloriously scenic.
(So we are told, we're boycotting )
Perhaps there are more important issues involved here than personal travel gratification.
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It looks like a lot of other islands.
Nice beaches, historical buildings I am not sure if the "golden arches" have arrive (I think not)
Not a lot of fast food places.
People are friendly
Lyn
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While some may disagree with your choice to boycott, it is your right to make that decision.
However, the real question is whether a government should make that decision for you.
The US does not prohibit tourist travel to any other country in the world,(if this statement is incorrect, I am sure someone will correct me) including North Korea, Somalia etc.
Travel is and has been allowed to Cuba under a US government permit, but tourists are specifically excluded from being eligible for a permit.
There has, to date, been no change in this policy.
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Another Canadian perspective.
Cuba would be a great place to visit via a cruise ship.
Havana and Santiago in particular are historically and architecturally very interesting.
Havana has been designated a UNESCO World Heritage site and efforts have been underway for a number of years to restore the city, it must have been magnificent.
Varadero beach rivals any beach in the Caribbean (at least we think so).
All the Cubans we have met in our years of travelling to Cuba have been warm, friendly and very interested in learning about the outside world.
A cruise ship visit would be good for people who have not visited Cuba before.
Accomodation and food have improved over the years but it will take much more investment to raise the standard.
Naomi
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JimandStan - Social?
Don't understand the comment.
Political? Right on!
As far as South Africa is concerned, DW & I would love to visit, especially with the wines they are now producing.Just too far for her to travel.
People we know here in Reno used to make the trip via the UK.Took them forever.
Now that they are in their 80s, no mas.
Picolo1 - Having grown up in the 40's & 50's, I have no desire to revisit that era;however, Habana in the late 50's must have been something.
Now, no thanks! Can not believe how easily the CBC was duped by the Castro act.
Even columnist Eugene Robinson agreed.
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JimandStan - Social?
Don't understand the comment.
Political? Right on!
As far as South Africa is concerned, DW & I would love to visit, especially with the wines they are now producing.Just too far for her to travel.
People we know here in Reno used to make the trip via the UK.Took them forever.
Now that they are in their 80s, no mas.
Picolo1 - Having grown up in the 40's & 50's, I have no desire to revisit that era;however, Habana in the late 50's must have been something.
Now, no thanks! If I want to see vintage cars, all I have to do is attend Hot August Nights right here in Reno.
Can not believe how easily the CBC was duped by the Castro act.
Even columnist Eugene Robinson agreed.
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Quote: : My feelings about traveling to Cuba match those regarding travel to China and Vietnam.
Would not spend a dime in any of those countries!Just because we trade with the latter two does not justify spending my travel dollars there.
Let the indignant responses commence.
Hi Leonid, It's always good to hear/see others' perspectives (yours as well as those of the Chinese, the Viet Namese, etc.).
That's part of the reason we choose to visit some of these "far flung" places.
We don't all have to agree.
Personally, we really enjoyed our August 2008 trip to China, and Viet Nam is on our future travel list, too.
The people in China could not have been nicer and we really learned a lot about their country and their culture and their politics and their religions and their traditions, etc.
Haven't really thought about Cuba yet ...
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