Fleet capacity development and deployment in time of crisis

While the Covid-19 pandemic lacerated the business performances of the cruise industry, the fleet capacity seems to have escaped destruction virtually unscathed, thanks to cool-headed confidence and prudent foresight.
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Major cruise groups full-year performance review

The 2022 full-year business performance figures of the three major listed cruise groups told a story of unquestionable recovery. They also brought to light all manner of woes in a complicated environment.
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Independent cruise lines business performance review

Broadly speaking, the post-pandemic recovery of smaller cruise line businesses should follow the same path and pattern as that of major cruise groups. But this sector is far more diversified and differentiated. The performances have varied, with the upscale segment powering ahead.
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That sinking feeling – cruise industry grapples with heavy debt burden

Cruise lines survived the global health pandemic by taking on more debt. Now, they face a new challenge of paying it all down.
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A silver lining for the Eastern Baltics?

The loss of St Petersburg on Baltic itineraries has been a devastating blow for some, but a step up for others. It may take time, but the eastern Baltic has a golden opportunity to realign itself as an attractive destination in its own right.
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Considering nuclear power as a future energy source for cruise ships

Until recently, the idea of a nuclear-powered cruise ship might have sounded farfetched.
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Jason Liberty to succeed Richard Fain as Royal Caribbean’s CEO

Richard Fain has announced his retirement from the position of CEO of Royal Caribbean Group (RCG), effective from 3 January 2022, after 33 years at the helm. He will be succeeded by Jason Liberty, the current CFO of the Miami-based cruise conglomerate. Fain will remain chair of the board. Liberty will take over at a...
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SunStone’s Boundless-class project moves ahead

SunStone Ships is moving ahead with plans to place an order for a number of newbuildings. The Miami-based expedition cruise ship tonnage provider is working on the specifications of what will be known as the Boundless class of ships, CEO Niels-Erik Lund told CruiseTimes. “Next week the specification will be finished, and next week we...
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Global Ports Holding looks to expand Baltic portfolio

Global Ports Holding plc (GPH), the world’s largest cruise port operator, signed a 20-year lease agreement for the port of Kalundborg in Denmark in mid-October to provide services to cruise passengers. Kalundborg Cruise Port marks GPH’s entrance to the northern European cruise market. The company will be positioning Kalundborg as an alternative homeport to Copenhagen...
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Soaring LNG price an unexpected development for users

In early November, the Finnish cruise ferry operator Viking Line said it would temporarily switch to using oil instead of LNG as fuel on its flagship, the 57,656-gross-ton cruise ferry Viking Glory, because the price of LNG had trebled since the spring. Several other shipping companies have done the same. The high price of LNG...
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