Cruise shipping companies have increased the rate of ordering newbuildings and the orderbook of Norwegian Cruise Line now amounts in value to 51% of its balance sheet (excluding effect of recently unveiled acquisition of Prestige Cruise Holdings), according to Odo Maritime, the research arm of Cruise Business Review.
At the same time, it would appear that the question of valuations of existing tonnage is gradually gaining importance after Royal Caribbean Cruises Ltd (RCCL) sold Celebrity Century at a loss. Meanwhile, a senior official of the group in the UK warned that new ships alone may not be enough to fill the new capacity that will come online, unless the public’s perception of cruising will change.
In the opinion of Odo Maritime, this highlights concerns over the future of the supply driven business model of the cruise industry.
For more, please go to: www.odomaritime.com/#!news-and-analysis/c2t8
