Within eight years, the cruise industry fleet is expected to increase by about 24% to reach 500 ships in service, up from just over 400 currently, says Cruise Industry News Annual Report 2019.
The authoritative industry publication noted that “a record orderbook of more than 120 ships combined with a minimized withdrawal rate of one to two ships per year is guaranteeing that growth.” With an expected filling out of shipyard slots between 2023 and 2027, the cruise industry could see more than 550 ships in service by 2027. This growth rate, the report noted, reflects significant acceleration since 1998 when 220 ships were in service. MSC Cruises has 14 ships on order, 10 megaships and four smaller, 1,000-guest luxury vessels as that line positions itself to control the high-end of the market. Carnival Corporation has 20 ships on order for nine of its cruise brands, including orders its joint venture with China State Shipbuilding Corporation. Royal Caribbean Cruises has an orderbook which includes 15 ships, including five for its Royal Caribbean International brand, four for Celebrity, five for Silversea and a trio of vessels for TUI Cruises. Deliveries extend through 2026. [Cruise Industry News Annual Report 2019]