Ticket prices obtained by the three largest listed cruise shipping groups softened from May to June and this could extend much further as the economic outlook remains challenging, a recent analyst report noted.

“Royal Caribbean (Group), Norwegian Cruise Line, and Carnival all saw capacity-weighted sequential ticket pricing declines from May to June, according to new data from BofA Global Research. Price declines ranged from 1% to 3% compared to May, with Carnival seeing the largest drop (2.6%),” a report on Yahoo Finance said.

“The pricing softness looks to be extending into 2023 and 2024, BofA noted, as ticket pricing for all three cruise lines fell 2.6% on average for 2024 in the latest survey,” the report continued.

"The strong booked position cited by most cruise lines seems to be eroding based on this data, and we expect this to be the key topic of discussion when Carnival reports earnings later this month," BofA researchers were quoted as saying 

"We view this as more specific to the cruise industry than a larger read to the leisure consumer given further Covid pressures (testing still required), continued ramp up in cruise capacity, and likely some difficulty attracting the 'new to cruise' consumer. This drives our more cautious stance on cruise stocks,” they said according to Yahoo Finance.