South Africa’s rand has hit an all-time low, tumbling to its weakest level since December 2001. Weighed down by a decline in commodity prices, slowing growth in China, and the possibility of a Federal Reserve interest rate increase, combined with the electricity shortage and persistent fiscal and current account deficits – all signal a tough time ahead for the rand.
As a consequence of the volatility of the rand, as well as the weakening euro/rand exchange rate, MSC Cruises has urged all passengers who have booked for the upcoming 2015/16 South African Sinfonia cruise seasons, to pay all outstanding cruise fares as soon as possible in order to secure their cruise price and to avoid any possibility of incurring the added expense of a currency adjustment.
“The weakening rand certainly has a negative effect on the MSC local season because many of the costs incurred in the operation of the ship are US Dollar- or Euro-based, from fuel to crew. In terms of our terms and conditions, we are entitled to apply a currency surcharge and fuel levy should either become necessary. We are therefore carefully monitoring the currency and hope that the slide in the rand will halt and we can avoid applying any currency surcharge,” says Allan Foggitt, marketing and sales director of MSC Cruises South Africa.
All bookings paid in full by the 16th of September 2016 will not be considered for any currency adjustment in the event that this becomes necessary.
Passengers are able to check their outstanding balance due and make payment electronically by logging in to the MY MSC Area on the MSC Cruises website. Alternatively, passengers can contact the MSC Cruises call centre on +27 (0)87 075 0888 to establish their outstanding balance, and make payment by providing their credit card details telephonically.
