The Cruise Industry News editorial team selected some of the industry’s key headlines, developments and trends seen in 2024.
Profitability
After mostly returning to profitability in 2023, the world’s largest cruise corporations continued to improve their financial positions in 2024.
Carnival Corporation reported a full year adjusted EBITDA of $6.1 billion, over 40 percent higher than the prior year.
After seeing an adjusted EBITDA of $2.1 billion in the third quarter, the Royal Caribbean Group reported that, in 2024, its adjusted EPS is expected to grow 71 percent year-over-year and be in the range of $11.57 to $11.62.
In the third quarter, Norwegian Cruise Line Holdings reported that its adjusted EBITDA grew 24 percent to $931.0 million, a quarterly record high. The company also expects its 2024 full year adjusted EBITDA to increase, reaching approximately $2.425 billion.
More Startups
Brands such as Villa Vie Residences, Mitsui Ocean Cruises and Aroya Cruises welcomed their first guests, and other new operations were announced, including Eastern Cruise, Victory Cruise Lines, Alma Cruceros, Neonyx Cruises and more.
New Ships in Service
Cruise lines welcomed ten new cruise ships into their fleets in 2024, with newbuilds coming in different sizes and types. The lineup included Princess’ new Sun Princess, Royal Caribbean’s Utopia of the Seas, Explora’s Explora II, Disney’s Treasure, and more.
China Bouncing
Western cruise lines returned to China in 2024, led by MSC and Royal Caribbean, while local operators scaled up. A summer surge of too much capacity in Shanghai led to changes, with ships set to enter China in the future being deployed elsewhere.
Secondhand Market
Notable transactions included the sale of the Pacific Explorer to Resorts World Cruises, as well as the sale of two smaller Celebrity ships to Lindblad Expeditions. An entire fleet also went to auction in April, as American Queen’s ships hit the market following the company’s dismissal.
New Ship Orders
After a year-long hiatus, Carnival Corporation, the Royal Caribbean Group and Norwegian Cruise Line Holdings placed new ship orders, with the latter announcing a record-breaking deal to take delivery of eight new ships over the next decade.
While Viking kept ordering new luxury vessels, Disney Cruise Line also announced plans to add five ships to its fleet over the next six years.
Newbuilds Get Larger
The new ships being ordered are getting significantly bigger, with more companies set to take delivery of 200,000-ton-plus ships over the next few years.
A series of new ships for Norwegian Cruise Line that will debut starting in 2030 will be 225,000 tons each, with capacity for 5,100 guests.
Luxury Remains Up
The luxury market has kept up the momentum in 2024, with more upscale vessels being ordered for various brands.
Viking confirmed orders for four ships during the year, while Crystal ordered three newbuilds, Windstar revealed plans to add two ships to its fleet and Emerald ordered another yacht.
