Surprising only in how long they took to announce this, NCL today outlined their process for eliminating fuel supplements on future bookings.
The thumbnail is this. For 2010 sailings booked on or after November 10, 2008, there will be no supplement.
For those booked prior to November 10, 2008, for sailings departing in 2009, the fuel supplement will be refunded via an onboard credit based on a specific formula. They've decided to use a formula similar to RCI's announced plan of basing fuel supplement on already-booked sailings on the price of West Texas Intermediate Crude on a particular date prior to each quarter. Thank you, NCL, for making this a bit easier! The table is below.
But basically what this means is this: If you're sailing for example in February, 2009, whether or not your fuel supplement will be refunded will be decided on December 18, 2008, when the price of West Texas Intermediate Crude will be evaluated. If the closing price below $65, you'll have a refund. Sailing in second quarter 2009? Then your date to watch is March 18, 2009 (by the way, these are the same dates RCI used for Royal Caribbean, Celebrity and Azamara). And so on and so forth.
Any questions on your particular sailing? That's what I'm here for - just give me a call.
If you're the type who likes to read the full formula, here it is:
The current fuel supplement will no longer apply to bookings made on or after November 10, 2008 for sailings that depart on or after January 1, 2010.
For guests booked prior to November 10, 2008 for sailings that depart on or after January 1, 2010, the company has established the following guidelines for the refund of fuel supplements paid:
The criteria for refund will be determined on a quarterly basis. Should the closing price on the NYMEX (New York Mercantile Exchange) of West Texas Intermediate fuel be below $65 per barrel two weeks prior to the beginning of the calendar quarter (dates specified below), the company will refund fuel supplements paid in the form of an on-board credit.
For guests booked on sailings that depart in 2009 (on or after January 1, 2009 and that depart on or before December 31, 2009), regardless of booking date, the company has established the following guidelines for the refund of fuel supplements paid:
The criteria for refund will be determined on a quarterly basis. Should the closing price on the NYMEX (New York Mercantile Exchange) of West Texas Intermediate fuel be below $65 per barrel two weeks prior to the beginning of the calendar quarter (dates specified below), the company will refund fuel supplements paid in the form of an on-board credit.
The dates on which the price of West Texas Intermediate fuel will be measured and the quarters during which refunds could apply are:
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
December 18, 2009 First Quarter 2010
March 18, 2010 Second Quarter 2010
June 17, 2010 Third Quarter 2010
September 17, 2010 Fourth Quarter 2010
December 17, 2010 First Quarter 2011
Determination of what quarter a sailing is in will be based solely on the sailing date. The entire cruise will be considered to be part of the quarter that the sailing date originates in.