An assessment of two of the world's major cruise lines. After a brutal pandemic, the cruise line industry has not only recovered but also benefited from record bookings. This has been a boon, especially to the second- and third-largest cruise line stocks, Royal Caribbean (RCL 0.01%) and Norwegian Cruise Line Holdings (NCLH -2.09%), which are locked in a competitive battle with the largest company in this space, Carnival Corp. Although both Royal Caribbean and Norwegian face similar challenges, one probably ...