The cruise industry has embarked on a path of unforeseen expansion: never before have cruise lines had so many ships on order and never before have they been as large as now. We think in our new report, which is out now that the industry is at a watershed
The newbuilding boom could change the industry’s strategic landscape as instead of the Big Three groups that currently dominate it, there may soon be Big Five or even Six.
Galloping demand in China is fuelling the expansion frenzy, but trading has been more challenging in Europe and in South America.
As increasingly large ships spread all over the world, the need for terminals to handle turn around calls is becoming global, but how good investments are such terminals themselves?
A lot of hype follows the launch of every new ship, and yet the industry’s market penetration rate remains very low in all key source markets. And while major parts of the travel industry have moved online in their distribution, the cruise industry continues overwhelmingly to rely on travel agents – as it did in the 1980s. Is this really the way to capture the hearts and minds of the Millennials?
The Second Edition of Global Ocean Cruise Market Analysis & Forecast by Odo Maritime Research, in association with Cruise Business Review, looks at the cruise industry that has reached a watershed. The enormous expansion of capacity that is due to enter service in the years to come will require a huge increase in the demand.
Yet a host of factors, from economic uncertainties to geopolitical threats, make the future more uncertain than what is has been for decades.
Global Ocean Cruise Market Analysis & Forecast by Odo Maritime Research is looking into the current state of the industry, the possibilities and threats that may lie ahead.
Extensive use of graphs, charts and tables in the 118 page report that is published in PDF format makes the information easy to absorb. The price of the report -£520, €650 or $860 – remains unchanged from two years ago, when we published our first issue.
To order your copy, please contract us on This email address is being protected from spambots. You need JavaScript enabled to view it.
Contents
Executive summary 8
Cruise industry in context 13
Tonnage supply 15
A bird’s eye view 15
Fleet capacity analysis 16
Space ratio analysis 17
Vessel size segmental analysis 21
Fleet age analysis 22
Small operators 25
Newbuilding prices analysis 26
Shipyards & newbuilding prices comparison 28
Orderbook 32
Newbuilding capacity delivery trend 37
Record orderbook & its implications 38
Deployment patterns 40
Cruise brands & market shares 45
Main ocean cruise brands 45
New & emerging brands 47
Mergers & acquisitions 48
Market shares 49
Port development & traffic analysis 55
Port development projects 55
Port traffic analysis 60
Source markets analysis 70
Business performances 76
The majors – Carnival Corp. & plc, RCCL, NCLH 76
Volume growth 76
Development of revenues 77
Development of net results 78
Development of revenue & net result per passenger 79
Development of total & onboard revenue 81
Development of onboard revenues’ share of total 82
Return on capital employed 83
Net yield & net cruise costs 85
Relative development of operating expenses – illustrations 87
Development of shareholders’ equity & debt 91
Earnings estimates by three listed majors 93
Smaller companies 94
Genting Hong Kong 94
Fred. Olsen Cruise Lines, Ltd. 96
Lindblad Expeditions Holdings, Inc. 97
Key observations on business performance 99
Risks & opportunities 100
Risks 100
Opportunities 102
Other considerations 102
Conclusion 104
Appendix 106
