Cruise Industry News: 2020 Expedition Market Report 5

EXPEDITION MARKET

Table of Contents

Continuing to Accelerate -------------------------------------------------- 8What Is An Expedition Ship? ------------------------------------------ 10Quoted ------------------------------------------------------------------------- 12Key Brand Overview --------------------------------------------------- 14Orderbook ------------------------------------------------------------------ 22Berth Prices ------------------------------------------------------------------ 24 New Expedition Ships ---------------------------------------------------- 26Class of 2020 --------------------------------------------------------------- 36SWOT ------------------------------------------------------------------------- 48Expedition Market Overview -------------------------------------- 50Market Capacity -------------------------------------------------------- 52 Market Capacity: 2019 --------------------------------------------------- 60Market Capacity: 2020 --------------------------------------------------- 61Market Capacity: 2021 --------------------------------------------------- 62Market Capacity: 2022 --------------------------------------------------- 63Market Capacity: 2023 --------------------------------------------------- 64Market Capacity: 2024 --------------------------------------------------- 65Market Capacity: 2025 --------------------------------------------------- 66Market Capacity: 2026 --------------------------------------------------- 67Market Capacity: 2027 --------------------------------------------------- 68Ponant: 12 Ships In the Market -------------------------------------- 70Ponant: Le Commandant Charcot --------------------------------- 74Lindblad: Diversity and Surprises ----------------------------------- 76Lindblad: New Endurance Set to Impress ------------------------ 80Silversea: ‘Unique Position’ ------------------------------------------- 82Silversea: Experience Cruising--------------------------------------- 85Silversea: Exploring the Globe --------------------------------------- 88Hurtigruten: ‘Pushing Volume’ --------------------------------------- 92Windstar: Bigger Small Ship Cruising ----------------------------- 96Seabourn: Charging Ahead ------------------------------------------- 98Seabourn: Strong Deployment Footprint ------------------------ 101Quark: Fleet Upgrade -------------------------------------------------- 104Viking: More Ships, Expedition Entry ---------------------------- 108 Crystal: Success on Multiple Fronts ------------------------------- 114Crystal: Clear Around the World ------------------------------------ 116 Crystal: Expedition Endeavor ----------------------------------------- 118SunStone: New Ships Take Over the Market ------------------ 122 CMI Leisure: Pushing Quality --------------------------------------- 124CMI Management: Planning Behind the Scenes ------------ 126

70

76

82

92

108

6 Cruise Industry News: 2020 Expedition Market Report

EXPEDITION MARKET

SeaDream: Eager to Build -------------------------------------------- 128 SeaDream: A Yachty Hangout ------------------------------------- 130Mystic: Seven Ships ---------------------------------------------------- 132Atlas Ocean: Carving Out Luxe Adventure -------------------- 134Albatros: Nordic Hospitality ------------------------------------------ 136Oceanwide: Polar Class 6 -------------------------------------------- 140 Paul Gauguin: Building Up ------------------------------------------- 142Paul Gauguin: Expanding the Map -------------------------------- 144Scylla: Building a ‘Learning Fleet’ ---------------------------------- 146VIVA: New Seaventure ------------------------------------------------- 148 Havila: Weathering the Strom -------------------------------------- 150Coral: New Fleet Drives Earnings ----------------------------------- 152 Adventure Canada: Local Adventures -------------------------- 154Aurora: New Ship, Full Seasons ------------------------------------ 156Alaskan Dream: Building Adventure Programs -------------- 158UnCruise: Full Immersion ---------------------------------------------- 160 Scenic: Six Star Product ----------------------------------------------- 162Poseidon: Small Ship Advantages -------------------------------- 164Antarctica21: New Ship Expands Programs ------------------ 166Celebrity: New Ship For The Galapagos ----------------------- 168Polar Quest: Global Product --------------------------------------- 172Iceland ProCruises: 140-Day Program ------------------------- 174Polar Latitudes: New Ship for 2021-2022 Season --------- 176Heritage: Traditional Expedition Travel --------------------------- 180G Adventures: Education -------------------------------------------- 184 Metropolitan: Galapagos Offering ------------------------------- 186Hapag-Lloyd: ‘Strategic Expansion’ ----------------------------- 188Antarpply: Seasonal Operator ------------------------------------- 190Vodohod: Building Two Ships --------------------------------------- 191Vantage: Expansion to Two Ships ---------------------------------- 192Australis: Dual Fjord Program in South America ------------- 194True North: Best of Down Under ---------------------------------- 196Victory: Entering Alaska in 2021 ----------------------------------- 198Peregrine: Ocean Endeavour for Antarctica------------------- 200Nicko: More Special --------------------------------------------------- 202Shipbuilding’s Capacity Constraints ------------------------------- 204Managing Sustainability ----------------------------------------------- 208Global Industry Orderbook -------------------------------------------- 210

134

158

164

168

176