NCLH: No Problem Filling Coming Cruise Capacity

“I often get asked whether we are confident that we can profitably absorb the capacity growth we are expecting for the next few years. And the answer is a resounding yes,” said Frank Del Rio, president and CEO of Norwegian Cruise Line Holdings.

“Given our relatively small base of only 29 ships, we still have many unserved and underserved markets around the world. We are continually innovating and enhancing our product offerings through our newbuilds and refurbishment upgrades to our existing fleet and making enhancements to our bundle offering to provide even more value and attract even more high-paying guests to our brands,” he said, speaking on the company’s second quarter earnings call.

Del Rio said that the three-brand company had its ability over the years to absorb capacity and deliver outsized revenue, adjusted EBITDA and operating cash flow contributions relative to the company’s capacity growth.

“And we fully expect to continue this trend,” he said.

Coming newbuilds include six Prima-class Norwegian Cruise Line ships, two ships for Oceania and one for Regent. The Norwegian Prima enters operation later this month.

Mark Kempa, CFO, said: “So, while we often hear concerns surrounding the industry’s capacity growth, we welcome and are excited for new capacity we have coming online. We have a high degree of visibility into the supply chain, supply pipeline for the industry, with only four major shipyards globally who can build cruise ships of scale. This, coupled with the incredibly efficient cost and financing structure of the new builds are a unique differentiator for us and the industry at large.”

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