It’s quite astonishing, actually.
Four years ago, even three years ago, the cruise industry was on its proverbial knees. COVID had ravaged the travel industry at large, and the cruise industry in particular. To say things were bleak for cruise companies a few years ago is like saying the Toronto Maple Leafs are in a bit of a Stanley Cup drought.
But that was then. Today, the cruise industry is riding high. Cruise stocks are rebounding. Viking just announced an initial public offering. And now we have NCL placing the biggest ship order in its history.
Norwegian Cruise Line Holdings this week said it has placed an order for eight new ships to meet the growing demand for cruise travel. Delivery is expected between 2026 and 2036.
Carnival Corporation recently announced it has signed an agreement with Meyer Werft shipyard for a fifth Excel-class cruise ship for its namesake Carnival Cruise Line brand, with the delivery set for 2028.
Yahoo Finance recently reported that bookings are at an all-time high for the top two cruise line companies, Carnival and Royal Caribbean Cruises. It also noted that Carnival’s revenue in its last fiscal year was actually higher than in 2019.
"This is the most comprehensive look to the future that the company has ever done," Norwegian CEO Harry Sommer told Reuters. "It demonstrates our optimism about the future of this industry."
NCL said the order represents nearly 25,000 additional berths, with new classes of ships for each of its three brands. Norwegian also plans to develop a new pier on its private island in the Bahamas, Stirrup Cay, set to be completed by late 2025.
“This unprecedented, decade-long strategy enhances its product offering, guest experiences, and operational infrastructure, supporting the company’s sustained leadership in delivering innovative cruise vacations,” officials said.
The new ship orders across all three brands are scheduled for delivery over a ten-year period, between 2026 and 2036. Following the delivery of four Prima-Plus class ships from 2025 through 2028, Norwegian Cruise Line is expected to take delivery of four approximately 200,000-gross-ton ships, each with a capacity of nearly 5,000 guests, in 2030, 2032, 2034 and 2036, which are subject to financing.
Building on the success of its Allura Class ships, the last one being delivered in 2025, Oceania Cruises is scheduled to take delivery of two 86,000-gross-ton ships, each with a capacity of 1,450 guests in 2027 and 2029.
Lastly, following the award-winning Explorer Class ships, Regent Seven Seas Cruises is scheduled to take delivery of two 77,000-gross-ton ships, each with a capacity of 850 guests, in 2026 and 2029. Details regarding the ships’ amenities, staterooms, dining, recreational, efficiency, sustainability and other features will be announced in the coming months.
"This strategic new-ship order across all three of our award-winning brands provides for the steady introduction of cutting-edge vessels into our fleet and solidifies our long-term growth,” said Sommer. “It also allows us to significantly leverage our operating scale, strengthen our commitment to innovation and enhance our ability to offer our guests new products and experiences, all while providing opportunities to enhance the efficiency of our fleet.
“We are likewise excited with the addition of a new pier at Great Stirrup Cay to support our increased capacity in the Caribbean and multiple ships to call on the island, enhancing our guest experience and bringing seamless and reliable access to our private island year-round,” he said.
