During the quarantine, the tourism industry held its breath in case the numbers that had predicted an unstoppable rise until then could not recover. One of the sectors hardest hit by the arrival of the new virus has been cruise travel, which does not allow 10,000 people to assemble in a confined space such as one of its ships for more than five days. The world’s four largest shipping companies (Carnival, Royal Caribbean, Norwegian Cruise Line and MSC Cruises), which hold 90% of the market share, lost 70% in their profits in 2020 and lost the same amount in the stock market. , excluding MSC Cruises, which is not on the list. Three years later, Shipping companies leave behind the red numbers of the pandemic and they are doing it in a big way: According to the International Association of Cruise Ships (CLIA), the volume of cruise passengers will reach 31.5 million in 2023, which is 106% more than in 2019, and the financial results for the second quarter allow us. Check out new records in their annual account.
In light of good tourist data registered all over the world, royal caribbean doubled earnings expectations and still may fall short. The shipping company posted record revenues of $3.5 billion and a net profit of $458.8 million in the second quarter of 2023. In 2019, the company’s net profit was 472.8 million. “What surprised us was that we were able to continue to increase prices and demand continues to reach higher levels than in previous periods,” CEO Jason Liberty said at a conference with investors.
on his behalf Carnival Companylargest cruise company in the world, Released all-time high for future cruise bookings Despite generating a record $4.9 billion in revenue for the company in the second quarter of 2023, which ended March 31, it still posted a net loss of $407 million. “We’re working hard to reduce four years of inflation,” CEO Josh Weinstein said during the presentation of the results. The stance caused by the coronavirus meant a loss of more than 13.7 billion euros in the first two years of the pandemic for the world’s leading operator, which could not continue its operations until the third quarter of 2021.
Results Norwegian Cruise Line Holdings (NCLH) Although the company has left behind the red numbers that the pandemic dragged in the first years, they are still far from reaching the 2019 figures. It billed $86 million (1.7 billion in 2019) in the second quarter of 2023 and generated a net profit of $137 million, roughly half the figure (282.1 million) four years ago. In your case, you see a significant price increase of 19% compared to 2019 and also 60% and 65% of planned bookings for the next 12 months. Demand is so high that the company has noticed an increase in the percentage of customers leaving the sea this year and rebooking at higher prices.
AND MSC Journeys, the leader in Spain, is following the positive path of its competitors. They revenue tripled to 2,645 million euros in 2022 and the shipping company expects to reap the pre-pandemic benefit this year. Three years ago, its turnover fell 78% to 705 million, reaching the red numbers in 2022.
record revaluations
After a rise in the stock market that left Royal Caribbean shares at $23.81 a piece, the company managed to increase its current price to $98.65. Since the beginning of 2023, Royal Caribbean gained 102.50% in the S&P 500. Despite the cancellation of the lines passing through Saint Petersburg due to the war in 2017, it is one of the most growing values in the index thanks to the 10% increase in its reserves compared to the pre-pandemic period. Ukraine
Carnival Corporation shares have followed a similar path, but their values are still very low compared to pre-pandemic levels. Company Achieved 100% revaluation It has risen from $67 in 2018 to $15.59 per share so far this year. Norwegian Cruise Company, whose value increased by 41.36 percent since the beginning of the year. Each book is trading at $16.78, which is a far cry from the roughly $60 the company received in January 2020 just before the global lockdown.
Spain, cruise port
Related news
Within the absolute record of tourists spending the summer in Spain this year, there is space for cruise passengers. Number of cruise passengers passing through Spanish port areas in the first six months of 2023, according to the latest figures from Puertos del Estado 2019 data exceeded 5% Up to 4.94 million passengers. In total, approximately 2,070 ships were damaged during this period, 8.4% more than four years ago.
Barcelona remains the port of choice for cruise passengersThe Balearic Islands (916,283 passengers), Las Palmas (840,395 passengers) and Santa Cruz de Tenerife (612,141 passengers) followed 2019 with 1,379 million passengers. Barcelona is so popular with cruisers that it ranks seventh on the list of the 20 most visited ports by CLIA every year.