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CruiSe Shipping ShipBuilding

resiliency at Sea

Cruise shipping remains buoyant despite challenges Last year began with the Costa Concordia tragedy, the overhang of continuing political and economic uncertainty, and a wide range of regulatory and environmental issues that would make it difficult for cruise lines to achieve desired yield improvements. The year ended with a variety of events that once again demonstrated the resiliency and vibrancy of the global cruise industry, justifying the optimism that always seems to pervade the industry. Passenger traffic increased, the fleet continued to grow, significant new ship orders were placed, increased broad global deployment of vessels enabled the industry to tap and develop new and emerging markets, proactive self-regulation in the area of safety management was undertaken with considerable success, and the industry came together to form a single global association to serve as a unified voice and advocacy leader for the entire industry—a remarkable outcome in the face of so many challenges. Passenger Traffic Year-end passenger estimates released by the Cruise Lines International Association (CLIA) indicate that member cruise lines carried 17.2 million passengers globally in 2012, up 5.4% from 2011. While considerably less than

the 10.1% increase reported one year earlier, the growth was noteworthy in light of the tremendous uncertainties that existed at the start of 2012. Of the guests carried on CLIA member ships, 68% (11.7 million) were from the U.S. and Canada, while the remaining 32% (5.5 million) were sourced internationally. This represents an increase of 4.3% from North America compared to 7.7% from the rest of the world and is consistent with the increasing importance of global deployment to cruise lines seeking to grow product demand. Australia is the fastest growing market, but the significant increase in deployments there to capitalize on the increasing demand may soon begin to create downward pressure on passenger fare yields. China, with its growing middle class, offers enormous potential for cruise lines that can offer the right product there, and consequently, considerable attention is being focused on that emerging market. cruise fleeT and OrderbOOk As of January 1, 2013, the global cruise fleet (1,000 GT and above) totaled 336 ships of 17.3m GT and 448,000 lower berths. Seven new cruise ships were delivered in 2012 (774,000 GT and 18,700 berths), representing 4% of the current global fleet. At less than half the

stX France recently won an order to buld a third Oasis class cruise ship for Royal caribbean

number delivered in 2010, the growth reflects the lack of orders in 2008 and 2009. Going forward, a total of six ships are likely to be delivered in 2013, adding only 543,000 GT and 14,100 berths to the global fleet. Beyond that, only five ships are scheduled for delivery in 2014. The big news however is the number of new orders placed in 2012, especially during the fourth quarter, which clearly reflect the industry’s optimistic view of the future. New orders were placed or options exercised for a total of ten ships during 2012, seven of them during the 4th quarter. Four of the ships are in the 4,000+ passenger category, with the largest being a third Oasis Class ship for Royal Caribbean (with an option for a fourth). The other three are for Royal Caribbean (158,000 GT), Carnival (135,000 GT) and Norwegian (163,000 GT with an option for a second). Holland America ordered the first of a new class of ships, its largest ever at 99,000GT and 2,660 pax, while TUI Cruises exercised an option for a second ship (99,000 GT and 2,550 pax) at STX Finnyards, the two being the only cruise newbuildings at that yard. FEBRuARY 2013 MARINE LOG 25

Feb 2013 Marine Log Magazine  

Feb 2013 Marine Log Magazine

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