Clearly the industry has a berth-control problem. The companies are taking on debt by the tonnage. Passengers are holding off for discounts. It's a case of subtraction by addition. The bad news is that the worst has yet to come.
Most operators rely on the seasonally strong summer to make or break the year.
With a nervous economy and overcapacity prompting markdowns, this doesn't appear to be the best time for potential shareholders to drop anchor. Isaac, pour me a double. Rick Aristotle Munarriz has cruised on ships owned by all four of the publicly traded companies mentioned in this article. Rick's stock holdings can be viewed online, as can The Motley Fool's disclosure policy . All Rights Reserved.