It was posted at http://www.comicbookrescources.com
in the Comic Wire.
Basically, the CBLDF said that given the expense of recent cases they are involved with, they had to cancel the cruise, for fear that they might not recover the expenses incurred by the cruise, and they'll need the money for these and other future cases.
A major reason why the cruise was canceled was because of the cancellation of Roger Price's Mardi Gras Comic Convention, which was the launching point for the cruise. Without the convention there, it hurt the prospects of sales for the cruise, apparently.
I am not overly familiar with that particular convention, but it seems to me that a lot of comic conventions in general are folding up across the country, or at least shrinking sizably, and I think it's because the mainstay publishers are only attending San Diego, Wizard World, and maybe 1-2 other cons a year now. I don't think anyone expects them to take their extravagant over the top sets to every single convention. But the publishers should have the decency to buy a booth with 2 or 3 tables and send a Talent, a couple editors and maybe a sales rep to the damned shows to support these smaller shows. If they keep limiting the prospective convention circuit as it appears to be happening, more and more fans are simply going to stop caring. JMO.