Under pressure from shareholders, cruising's major players change tack in search of better returns on newbuilding investments while shipbuilders adapt to thinner orderbooks and ports to cost-cutting itineraries with fewer calls.
A 280-page worldwide analysis with 20-year (2014-2034) forecasts
Major individual and structural management changes at the market-leading global cruise companies suggest that the industry is entering a new phase in its 45-year history, one that will see its original entrepreneurial-style drive for demand growth replaced by more conservative, analytics-based decision-making designed to bring improved - and sustainable - profitability.
These changes will have a significant impact on the industry's other stakeholders: ports, destinations, and - in particular – shipbuilders.
Winners and losers
Key changes in the global cruise map are starting to appear with cruise lines looking to reduce fuel costs as new regional environmental regulations start to bite. This has serious implications for current and would-be cruise ports with infrastructure investment projects underway or under consideration
The industry also faces an unprecedented level of public and governmental scrutiny, particularly in North America and Europe, in the wake of Costa Concordia and the well-publicised series of mega-ship breakdowns during 2013.
On both the managerial and the operational front, the industry faces a critical period of transition and this, the latest Seatrade research report to be authored by Tony Peisley, analyses the longterm impact on all its stakeholders.