It has been a terrible week for the cruise industry with a tragic loss of life after the Costa Concordia cruise ship ran aground shortly after leaving the Italian port of Civitavecchia. 11 people have already been confirmed dead and a further 24 are still missing. A full investigation is underway but already it would seem that the Captain, Francesco Schettino, is getting the brunt of the blame – from the media, from passengers and, perhaps most tellingly, from Costa Cruises themselves, who wrote “preliminary indications are that there may have been significant human error on the part of the ship’s Master, Captain Francesco Schettino, which resulted in these grave consequences”.
In addition to the terrible human tragedy of this event, it seems likely that there will be implications for the cruise industry as a whole. Costa Cruises’ parent company, Carnival Cruise Line – which controls about half the global cruise market – saw its shares fall in value by 20% in the aftermath of the event. And it’s perhaps fair to assume that there could be knock-on effects for other cruise companies as would-be cruisers have second thoughts about the safety of their trips. Furthermore, the timing of the event co-incides with a key booking period which will surely not help matters, in a year when the cruise industry was already anticipating minimal growth.
What’s your take on it all? Do you think 2012 will prove to be a difficult year for the cruise industry as a result of this incident? Do you think there will be any long term effects upon the cruise industry? Post a comment – we’d love to hear your thoughts.
