Cruise ships expected to keep repair industry busy

In spite of recent challenges facing the cruise industry as well as the challenging situation facing the shipping industry overall, the cruise sector is enjoying rapid growth, says the report. Global cruise demand is expected to grow strongly, and cruise lines are introducing significant changes to deployment of capacity.

OSC foresees an expected 68% growth from an estimated 21.7 million passengers in 2013 to 36.4 million by 2025. Newbuildings of ever-increasing size are expected to absorb much of this demand, but In addition, with an average age of 20 for the current sea-going cruise fleet, and 47 ships of 40 years or more in age, there will be a potentially significant source of demand for vessel repair in the coming years.

With changing patterns of vessel deployment, the significance of the world’s main cruise ship repair yards is changing, and set for further development through the next decade, says the report. For example, the capacity deployed in Asia Pacific by major lines increased more than fivefold over 2003-13, in comparison to just 36% expansion in the Caribbean.

Another development that is expected to spur ship upgrading work is new emission controls, with ships berthing at or sailing in European and US coastal waters coming under ECA restrictions, which is expected to create demand for installation of scrubber systems.

The report, World Cruise Ports and Shipping to 2025, is OSC’s 11th in-depth passenger shipping industry analysis since 1992. It includes port development, cruise lines and itinerary development, ship construction, repair and price, as well as demand forecasts for cruise passenger capacity.