Industry Set to Grow to Over 500 Ships In Next Decade

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Industry Set to Grow to Over 500 Ships In Next Decade

 

April 03, 2019

The cruise industry will easily have over 500 vessels in service by 2027, up from some 404 this year, according to the 2019 Cruise Industry News Annual Report.

A record orderbook of more than 120 ships combined with a minimized withdrawal rate of one to two ships per year is guaranteeing that growth.

Add in the expected filling out of shipyard slots between 2023 and 2027, and the cruise industry could see upwards of 550 ships in service by 2027, and perhaps more if new yards continue to enter the business.

This growth rate has accelerated dramatically, as 220 ships were in service in 1998, according to Cruise Industry News data, and the industry’s annual market capacity was about a third of what it is in 2019.

Going by brands, MSC Cruises has the biggest growth plans of all with 14 ships on order, split between 10 megaships and four smaller, 1,000-guest luxury vessels as the company looks to dominate the high-end market.

Among the big industry players, giant Carnival Corporation has 20 ships on order from 2019, extending its own orderbook through 2024. Carnival has vessels on order for  nine cruise brands, including its joint venture with China State Shipbuilding Corporation.

Royal Caribbean Cruises has an orderbook including 15 ships, including five for its Royal Caribbean International brand, four for Celebrity, five for Silversea and a trio of vessels for TUI Cruises. Deliveries extend through 2026.

Norwegian Cruise Line Holdings’ growth plans have seven ships on order for the Norwegian brand, plus two for Regent and two for Oceania, totaling 11 ships on the orderbook. The Norwegian brand will get new Leonardo-class ship annually starting in 2022, with six ships spread out through 2027.

Other big growth plans include Torstein Hagen’s Viking Cruises brand, which will have some 18 ships in service by 2027, having launched ocean service with the Viking Star in 2015.

[navybankerteacher]

You better enjoy sea days — with all those ships (and most of them ever larger) most ports will be so mobbed that they will not be worth the stop.

[Essiesmom]

Maybe, but I suspect there will be a lot of older ships retired.  And a lot of the ships are for small expedition/luxury lines...some that only exist on paper yet.  EM

[dogs4fun]

Yes, with increased tourism by both land and water I assume that one can expect the "hot" destinations to become even more crowded. The difference in (for example) Rome tourists over the past 20 years in unbelievable. Huge uptick in Chinese tourists - makes sense in that the Chinese middle class has grown by leaps and bounds.