Cruise Ship Industry Takes a Hit After Carnival's Costa Concordia Accident

March 5, 2012

According to barrons.com, Carnival Cruise Lines' market capitalization has taken an 11 percent dip after the Costa Concordia disaster. The ship, operated by Carnival's Italian subsidiary Costa Cruises, run aground and capsized on the shores of Giglio, a small Island off the western coast of Italy on January 13, claiming the lives of 32 people.

Accident May Be Costly to Carnival Cruise Lines

Besides the financial impact of the Costa Concordia disaster, the cruise industry has had to contend with a slowing down of its growth rate to about 3 percent a year. Moreover, the tragedy happened at the time when customers are booking their vacations for the rest of the year, causing these bookings to slow down considerably. The impact from the Concordia disaster to Carnival's economic forecast alone is estimated at about $85 million.

Congressional Hearings on Costa Concordia Disaster

To make matters worst for the cruise industry, Congress has decided to hold hearings into the ship disaster. At least two American passengers from the Concordia will be testifying before the House Committee on Transportation and Infrastructure. Additionally, US Representative Mazie Hirono of Hawai has called for a review of a century-old United States maritime law that limits cruise ship victims' recovery under certain circumstances.

Sinking Ship Not The Only Danger For Passengers

A sinking ship is not the only danger faced by people on board a cruise ship. Passengers can get injured as a result of :

  1. Fire
  2. Slip and Falls
  3. Food poisoning
  4. An assault by another passenger or a crew member
  5. Accidents while diving, surfing, boating, parasailing, jet skiing, hiking, ZIP lining or while on an excursion on bicycles, motor bikes or on 4X4 vehicles like Jeeps, etc.

Greenberg, Stone & Urbano Can Help

Typically, the cruise line will try to "low ball" and injured passenger into accepting a refund as compensation for his or her injuries. Don't let the cruise line take advantage of your situation and pressure you into accepting their low offer. If you or a loved one have suffered serious injuries or death while on a cruise vacation or have been the victims of serious crimes while taking a cruise, the cruise line may owe you financial compensation. However, unless you immediately hire a law firm with experience handling these matters, they may never give you the compensation you may deserve.

Please note that these cases are usually governed by the conditions established in the tickets, which usually provide for a term of six months to give written notice of the claim and one year from the date of sail to file suit against the cruise line.

Consequently, it is essential to hire a lawyer as soon as possible. If you are concerned for the costs, please note that a Florida lawyer will not charge you for the initial consultation and will work your case on a contingency fee basis, which means that you will not be charged at all, unless the lawyer wins your case. The Cruise Lines Injury Lawyers of Greenberg, Stone & Urbano, P.A. have handled many such cases against these cruise lines over the years and can help you obtain the compensation you may deserve.

Please note that our practice has been extended with a new satellite office in Aventura to better serve clients that reside in Ft. Lauderdale, Hollywood, Hallandale Beach, Dania & Dania Beach, Miramar, North Miami, North Miami Beach, Aventura, Miami Beach, Surfside, Sunny Isles and Miami Gardens.

If you or a close relative suffered an injury while on a cruise, we urge to contact a law firm with experience handling cruise ship injury cases. Visit our website to learn more about our firm and contact us today.