Norwegian Cruise Line Holdings has set an aggressive growth course to 2033, increasing its estimated annual passenger capacity from about 2.8 million at the start of 2025 to more than 4.2 million by 2033, a 50 percent increase or approximately 5.5 percent each year, according to the 2025 Cruise Industry News Annual Report.
Royal Caribbean Group will grow its capacity from an estimated 8.5 million to 10.8 million guests, for a 27 percent increase over the 2025-2033 time period, or 3 percent per year.
MSC Cruises, including Explora Journeys, is closely behind Royal Caribbean’s growth curve, going from a 4.2 million passenger capacity at the start of the year to 5.2 million in 2033, and a 25 percent increase, or less than 3 percent per year.
Carnival Corporation will have the most modest growth over the time period, based on its current orderbook, going from an annual passenger capacity of 12.6 million at the start of 2025 to 13.9 million in 2033, for a 10 percent increase, or about 1.1 percent per year.
And while Carnival Corporation remains the largest company with a market share of 31.8 percent, based on its existing brands and fleets, the single largest brand by 2033 will be Royal Caribbean International with a market share of 18 percent and 24.6 per cent for the group as a whole.
MSC will have a market share of 11.8 percent and NCLH 9.7 percent.
The 2025 Cruise Industry News Annual Report is available in digital and printed formats. Order today by clicking here.
According to the latest edition of the cruise ship orderbook by Cruise Industry News, 13 cruise ships will enter service in 2026.
As part of a strong year for the shipbuilding business, 13 vessels are set to be delivered to 12 cruise lines, including Viking, which is set to welcome two luxury vessels from Fincantieri.
The year will be particularly strong in the luxury segment, with seven upscale vessels set to enter service.
In addition to Viking, other brands taking delivery of high-end newbuilds include Emerald Cruises, Explora Journeys, Atlas Ocean Voyages and Regent Seven Seas Cruises.
Marking Orient Express’s official debut, the OE Corinthian is also set to enter service in 2026, kicking off the company’s first-ever cruise program.
The industry is welcoming several large ships next year as well, including the Legend of the Seas.
Currently being built for Royal Caribbean International at the Meyer Turku in Finland, the 250,000-ton vessel will be the second in the company’s Icon-class series.
Norwegian Cruise Line and TUI Cruises are also welcoming large vessels to their fleets with the debuts of the Norwegian Luna and the Mein Schiff Flow.
Continuing its record-breaking World class, MSC Cruises is set to take delivery of the MSC World Asia from the Chantiers de l’Atlantique.
Other ships entering service include the Adora Flora City, which will become the largest cruise ship ever built in China, and the Magellan Discovery, which was designed to offer expedition cruises in Antarctica.
According to CIN’s independent research, the new ships will add roughly 38,000 berths to the industry in 2026.
With an average size of 112,377 tons and an average cost of $805,066,667, the newbuilds will cost over $12 billion.
The Galveston Wharves Board of Trustees announced plans to fund an updated 20-year Strategic Master Plan and to continue to support the development of additional cruise infrastructure.
According to a press release, the plans were voted on Feb. 6, 2025, and come after a record year for cruise operations in 2024.
As the nation’s 4th-ranked cruise port, Galveston saw 3.4 million passenger movements through its three terminals last year.
The port is set to open a fourth cruise terminal in November, which will serve as a homeport for MSC Cruises and Norwegian Cruise Line.
Galveston forecasts more than 400 sailings and almost 3.6 million passenger embarkations and debarkations will take place at the port this year.
The current master plan, adopted by the Wharves Board in 2019, includes plans to double the number of cruise terminals from two to four, to build an internal roadway to accommodate more port traffic and expand its cargo complex.
These major projects are either completed or in various stages of construction, the Galveston Wharves Board said.
“Our updated master plan will look at growth opportunities in all of our business lines – cruise, cargo and commercial,” said Rodger Rees, Galveston Wharves port director and CEO.
“The board’s unanimous vote to support cruise infrastructure growth reflects the economic benefits that our cruise business provides and allows us to continue to invest in our cargo business,” he added.
The port’s cruise industry is a major economic engine for local and regional businesses, the Galveston Wharves Board said.
In 2023, cruise operations generated 4,547 jobs for Galveston area residents, $733 million in business revenues, $291 million in personal income and $25 million in state and local taxes.
“The updated master plan will evaluate all that we’ve accomplished to date and lay a foundation for continued growth based on new cruise and cargo forecasts and port and community goals,” Rees said.
“The master plan has served us well. It’s been our roadmap for major capital projects to grow our business and maximize port assets while managing potential community impacts.”
According to the Galveston Wharves Board, much has changed in the last five years, with the cruise business growing faster than forecast and construction costs continuing to rise.
“A big focus in the master plan update will be how we can continue to efficiently manage traffic on and around Harborside Drive as our cruise, cargo and commercial businesses grow. Our current master plan includes a 2.25-mile-long internal roadway, cueing lanes at cruise terminals and on-site parking garages,” Rees added.
The port also wants the updated plan to consider locations for the USS Texas, public areas on the waterfront and safely connecting the port’s waterfront commercial areas to downtown.
Several items in the current plan will be addressed, including dock and wharf improvements, development potential for port acreage on Pelican Island, drainage improvements and a public boardwalk, to name a few.
Master plan consultants from Bermello Ajamil and Partners Inc. will evaluate these projects, update cost estimates and identify new opportunities.
Consultants will hold workshops and public meetings to gather input from Wharves Board members, port partners and the community.
“Armed with this information, we’ll be prepared to continue to maximize our port assets and remain a strong community asset,” Rees said.
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