But it said the Russian military action in Crimea could ultimately affect not only Black Sea ports, but also itineraries in the Baltic that call on St Petersburg.

For the Ukrainian ports of Yalta, Odessa and Stavropol it identifies “no material exposure” for lines.

Carnival’s AIDA, Holland America, Princess, Seabourn and Cunard have less than 1% exposure in Ukraine against their total passenger capacity.

NCL