What hasn’t been philosophized since early 2020 about the likely disastrous consequences of the Corona pandemic for the cruise industry. Today, as the crisis possibly approaches its end – or at least a recovery – an interim balance can be drawn.[ds_preview]
In the newbuilding market, some projects have been cancelled or at least postponed, that’s true. Not all cruise companies have survived the crisis either, as the example of Genting/Dream Cruises has impressively shown. Overall, however, the cruise industry has (so far) come through the crisis relatively well in terms of its basic structure.
On the other hand, the pandemic has had a significant effect on the sale and purchase of existing ships. The year 2020 in particular will probably go down in history as an absolute boom year for the second-hand business. While the number of transactions exploded, the following year saw a collapse in ship or sales values.
Incidentally, the vast majority of experts do not expect the Russian invasion of Ukraine to have a significant effect on the industry. It is true that cruises to Russia have been cancelled from many plans. Ultimately, however, the market there is probably not important enough for the industry to cause any major upheavals. (MM)
in cooperation with VesselValue
