A+ A A-

Global cruise market growth accelerates to 6.5% to 24.7 million passengers, China powers to second place

  • Written by Kari Reinikainen
  • Category: Top Headlines

The global cruise market grew by 6.5% to 24.7 million passengers in 2016, exceeding forecasts that the market would grow to 24.2 million people, while China is now the second largest source market of cruise passengers.

In 2015, a total of 23.2 million people took a cruise, an increase of 5.5% on the previous year.

The US remained the largest market with 11.52 million passengers, but China reached the second place by 2.1 million, surpassing Germany that produced 2.01 million passengers. The UK was pushed to the fourth place with 1.79 million passengers last year, Travel Weekly in the UK reported, citing CLIA figures.

CLIA forecast the global market to grow by 4.4% this year to reach 25.8 million passengers.

“In its findings CLIA added that the industry’s growth can be attributed to the continuing development of the Asian market, especially China, with ocean capacity in the region rising to 9.2% in 2016, 38% more overall than in 2015,” Travel Weekly said.

Fincantieri buys 66.66% of the shares in STX France

  • Written by Kari Reinikainen
  • Category: Top Headlines

Fincantieri, the Italian shipbuilder, said it has acquired a 66.66% stake in STX France, the French builder of e.g. cruise ships, from the South Korea based STX Offshore & Shipbuilding group, for €79.5 million.

The French government holds the rest of the shares in the St Nazaire based shipyard, whose portfolio also includes naval vessels.

After this deal, the cruise ship building sector is largely in the hands of two groups: Fincantieri, with facilities in Italy and France and Meyer, which has a shipyard in Germany and another one in Finland.

In addition, MV Werften, which is part of the Genting Hong Kong group, has a large orderbook of cruise ships, but these are all from its parent company. Some shipyards in China are showing growing interest in the passenger ship building sector as well.

Certares LP buys a stake in AmaWaterways

  • Written by Teijo Niemelä
  • Category: Top Headlines

AmaWaterways is pleased to announce that it has closed on an investment from travel and hospitality investor group Certares LP. Certares joins the Schreiner/Karst, Murphy and McGeary families as the company’s fourth investor, all of whom remain committed to supporting AmaWaterways long-term growth and innovation in the river cruising industry. Terms of the transaction were not disclosed.

Last week, AmaWaterways, which is celebrating its 15th anniversary in 2017, christened its newest ship, the AmaKristina, and debuted its design and construction plans for its double-width Danube ship, the AmaMagna, which is expected to launch in 2019. Certares, whose other current investments include American Express Global Business Travel and Travel Leaders Group, is an investment company focused on the travel and hospitality sectors. Certares holds and oversees each of its portfolio companies separately.

Colin Farmer, Managing Partner of Certares, said “We are extremely excited to be joining the three family shareholders of AmaWaterways. Rudi, Kristin, the Murphys and the McGearys have built the leading luxury river cruising company in the industry and we are honored to join them in support of this next chapter of the company’s development. We are partnering with an exceptional team who have an incredible track record of customer service and product innovation.”

Rudi Schreiner, President of AmaWaterways, said: “We are happy to welcome Certares as a partner in AmaWaterways. We look forward to continuing our growth in the river cruising market with the support of our new partners and our family partners. We are proud of the company we have built over the last 15 years, the privilege we have of hosting our guests onboard every day and the opportunities we see ahead of us.”