SHIPBREAKERS ENJOY BOOM AS CRUISE SHIPS ARE DISMANTLED

Since the pandemic hit, the number of cruise ships being dismantled for scrap has increased. Because many shipyards had to close due to lockdowns, there's a waiting list for cruise ships to get dismantled around the world, Sophie-Claire Hoeller reported for the Business Insider.

The travel industry is hurting as the coronavirus pandemic ravages on, but the US cruise industry, in particular, has been hard hit. The Centers for Disease Control and Prevention (CDC) issued a no-sail order in March, which it changed to a "conditional sailing" one on November 1. This means that cruises could accept passengers, but only after making significant changes to their health and safety protocols. Most cruise companies voluntarily renewed the no-sail order through 2020 as they figure out these new measures.

Ahead of the coronavirus pandemic, Cruise Lines International Association (CLIA), the world's largest cruise industry trade association, which represents 95% of the global cruising industry, projected that 32 million passengers would set sail in 2020 and that the industry was creating an economic impact of $53 billion in the US, and $150 billion worldwide.

The CLIA now estimates that "each day of the suspension of cruise operations in the US results in a total loss of approximately $110 million in economic activity and up to 800 American jobs." For the shipbreaking industry, however, this means big business.