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Regent Cruise Lines News



 
 
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Old November 5th, 2008, 03:01 PM posted to rec.travel.marketplace
Vic
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Posts: 118
Default Regent Cruise Lines News

Effective November 10, 2008, fuel supplement charges will be
eliminated from all Regent Seven Seas Cruises voyages departing in
2010. In addition, the company has established specific guidelines
under which the fuel supplement may be reimbursed to guests sailing on
voyages departing in 2009.

For voyages departing in 2009, the company will continue to apply a
$15 per guest per day fuel supplement. Fuel supplement charge
adjustments, if any, will be determined on a quarterly basis. Refunds,
in the form of Shipboard Credits, will automatically be applied to all
reservations to which a fuel supplement had previously been charged if
the quarterly closing price on the New York Mercantile Exchange of
West Texas Intermediate fuel is below $65 per barrel two weeks prior
to the beginning of the upcoming calendar quarter.

Frank Del Rio, Chairman of Prestige Cruise Holdings, parent company of
RSSC, stated that the company was implementing these changes due to
the recent decline in fuel prices. "If oil stabilizes below $65 per
barrel, we are confident that we can effectively eliminate the need to
charge our guests a separate fuel supplement. However, we must see
stability in fuel pricing on a mid- to long-term basis as there could
still be significant volatility in the marketplace," stated Del Rio.

The dates on which the price of West Texas Intermediate fuel will be
measured and the quarters during which refunds may be applied are
listed below.

Fuel Price Determination Date Quarter of Possible Fuel Supplement
Refunds
December 18, 2008 First Quarter 2009
March 18, 2009 Second Quarter 2009
June 17, 2009 Third Quarter 2009
September 17, 2009 Fourth Quarter 2009
 




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