Friday, October 24, 2008

Royal Caribbean Cruises Ltd. Announces End to Fuel Supplement

Royal Caribbean Cruises Ltd. has announced that the company's fuel supplement will no longer apply to new Royal Caribbean International, Celebrity Cruises and Azamara Cruises bookings made on or after Nov 10, 2008, anywhere in the world, for sailings that depart on or after Jan 1, 2010. This decision takes into consideration the recent reductions in global fuel prices. The company has also established specific guidelines that will determine whether fuel supplement refunds will be provided for sailings that begin in 2009 and later, which were booked prior to Nov 10, 2008, if fuel prices remain below a specific price threshold.

For 2009 sailings and 2010 sailings booked before Nov 10, 2008, the company will determine on a quarterly basis whether fuel supplements will be refunded. Refunds, in the form of an onboard credit, will be provided if the closing price of West Texas Intermediate fuel is $65 or less, at the closing time of the New York Mercantile Exchange, two weeks prior to the beginning of the upcoming calendar quarter. When those conditions are met, an onboard credit will be provided to all guests on sailings that begin during the upcoming calendar quarter. The dates on which the price of West Texas Intermediate fuel will be measured, and the quarters during which refunds could apply are listed in today's Cruise News on

Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Cruises, and CDF Croisieres de France. The company has a combined total of 38 ships in service and six under construction. RCCL will continue to closely monitor the movement of global fuel prices and recognizes that an upturn in those prices could necessitate the reinstatement of a fuel supplement.

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