Hurricane Beryl Hits Cruise Stocks

By Andrew Kessel
Published July 01, 2024
02:44 PM EDT
Cruise ships docked in Nassau, Bahamas, in April.
Cruise ships docked in Nassau, Bahamas, in April.

Scott McIntyre / Bloomberg / Getty Images

Key Takeaways

  • Shares of Royal Caribbean, Carnival, and Norwegian fell Monday as Hurricane Beryl forces cruises to reroute.
  • Hurricane Beryl, a Category 4 storm, is the strongest-ever Atlantic hurricane in the month of June.
  • Royal Caribbean's chief meteorologist warned of a dangerous hurricane season in a post on social media platform X.

Shares of cruise operators fell Monday as a Category 4 hurricane forced ships to reroute in the Atlantic Ocean, a potential early indicator of a dangerous hurricane season this year. 

Hurricane Beryl, reportedly the strongest hurricane on record to ever hit the Atlantic Ocean in the month of June, made landfall Monday in Grenada.

Some cruises slated to visit Caribbean islands are being rerouted, according to reports citing emails sent to customers. That could become a pattern this hurricane season, Royal Caribbean (RCL) Chief Meteorologist Craig Setzer warned Friday in a post on the social-media network X.

“The deep tropical Atlantic is very much alive very early in the season, and unfortunately is likely a harbinger of things to come this summer & fall,” Setzer wrote. 

Royal Caribbean shares sank more than 1.5% in Monday afternoon trading, while Carnival (CCL) fell nearly 5%, and Norwegian Cruise Line (NCLH) dropped about 5%. 

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  1. Bloomberg. “The Strongest-Ever June Hurricane Is a Dire Sign for Storm Season.”

  2. National Hurricane Center. “Hurricane Beryl Public Advisory."

  3. Cruise Blog. “Hurricane Beryl Disrupts Major Cruise Line Itineraries. Here Are the Major Changes So Far.”

  4. X Platform. “@CraigSetzer 3:25 a.m. June 28, 2024.”

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