DAVID KOENIG
AP Business Writer
Shares of cruise lines have taken on more water after the industry's major players were shut out from government assistance as part of the major economic-recovery bill signed by President Donald Trump on Friday
The bill passed by Congress says companies getting loans or loan guarantees must be "organized" in the U.S. under American laws and have a majority of their employees based in the U.S.
Carnival Corp. is registered in Panama, England and Wales; Royal Caribbean Cruises is chartered in Liberia; and Norwegian Cruise Line Holdings is flagged in Bermuda.
In trading Friday, Carnival's stock dropped 19%. Royal Caribbean fell 15% and Norwegian sank more than 23%.
The cruise lines could still get another chance for a lifeline from taxpayers.
Cruise ship
