| Cruise lines do pay

THE American branch of Cruise Lines International Association (CLIA) has refuted claims made by newly sworn in US Commerce Secretary Howard Lutnick, who stated on Fox News that the cruise sector is not paying its fair share of tax because many are registered in foreign countries.

“Cruise lines pay substantial taxes and fees in the US – to the tune of nearly $2.5 billion, which represents 65% of the total taxes cruise lines pay worldwide, even though only a very small percentage of operations occur in US waters,” CLIA said.

The statement made by Lutnick caused stock prices of the major cruise companies to fall by the end of the day’s trading, down by 6% for NCLH, 5.5% for Royal Caribbean, and 3.95% for Carnival.