Royal Caribbean Cancels Nearly All Cruises for the Rest of 2020

In a move that can hardly qualify as a surprise, Royal Caribbean Group (NYSE: RCL) is suspending the remainder of its cruises for 2020, save for a handful of sailings from Singapore.

The announcement follows the release of the Centers for Disease Control and Prevention's latest mandate, the "Framework for Conditional Sailing Order," which was published on Monday. The order permits cruise ships to sail in this country's waters starting this week, but with a very large caveat -- these are only allowed as simulation sailings without paying passengers. Essentially, they are coronavirus-era training exercises for crew.

Image source: Royal Caribbean.

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Source Fool.com