Norwegian Set to Boost Caribbean Cruise Capacity

“We pair our ships with destinations, sending some of our smaller ships to exotic destinations and some of our larger amenity-filled ships to our fun and sun destinations,” said Harry Sommer, president and CEO of Norwegian Cruise Line Holdings, speaking on Monday at an investor event held in New York.

As a result, “Fun and Sun” (Caribbean, Bermuda and Hawaii) capacity will make up 54 per cent of the deployment for the Norwegian Cruise Line brand in 2026, up from 42 per cent this year.

“It gives our guests the opportunity, on the NCL brand, to return over and over and over again, maximizing their lifetime value and driving high fields.”

Sommer said he believed Norwegian’s ships with increased amenities were perfectly suited for millennial and Generation Z guests.

The company will send its biggest ships to its core destinations in the “Fun and Sun” regions.

As a result, by 2026, the company’s average cruise length will be down to eight days from nine in 2023 with more short and week-long Caribbean sailings as a growing part of the deployment mix.

Capacity days are expected to be in the 12 million range in these “Fun and Sun” destinations by 2026, up from 8 million in 2023, according to a company presentation.

In addition, the mix of the company’s top 10 embarkation points (homeports) will be greater, representing 80 per cent of 2026 capacity, compared to 65 per cent in 2023.

“Our increased Caribbean deployment has given us the ability to invest in our private island in Great Stirrup Cay,” Sommer said, noting the coming two-ship pier for the island set to open in 2025.

Other investments will follow in Great Stirrup Cay, including a VIP area, and the company expects to host approximately 700,000 guests on the island by 2026, up from 400,000 in 2023.

PortMiami Reports Increased Economic Impact in 2023

PortMiami’s annual economic impact has grown to $61.4 billion, up from $41.4 billion in 2016, according to a study conducted by Martin Associates, according to a press release.

The study measured PortMiami’s impact in terms of jobs, business revenue, consumer spending and state and local taxes. PortMiami has contributed $2.2 billion in state and local taxes, of which $1.6 billion is attributed to port users. Additionally, 340,078 jobs are supported by port activity, including 29,423 direct local jobs.

“PortMiami is not only one of Miami-Dade County’s most important economic engines, its economic impact is also felt regionally and globally,” said Miami-Dade County Mayor Daniella Levine Cava. “This report confirms the seaport’s vital role in supporting good-paying local jobs and contributing to the growth of our community, in addition to our commitment to resilience and reducing our carbon footprint with shore power and our net zero plan.” 

Highlights of the 2023 study:

  • $61.4 billion in total economic activity, which accounts for 3.9 per cent of the $1.6 trillion Gross Domestic Product (GDP) for the state of Florida.
  • $2.2 billion in state and local taxes, of which $1.6 billion is attributed to Port users.
  • 340,078 jobs supported by port activity, including 29,423 direct local jobs.

The economic impact analysis was based on data obtained through interviews and telephone survey programs of the seaport’s tenants and the companies providing cruise and cargo services at PortMiami. In addition, a survey of cruise passengers and crew was conducted to develop passenger spending profiles pre- and post-cruise as well as the spending characteristics of the crew during each port call at Miami. 

“The seaport continues to play a critical role in the economic vitality of our region. We will continue to invest in our infrastructure to ensure that PortMiami remains a world-class cruise and cargo port,” said Hydi Webb, director and CEO, of PortMiami. “I want to thank all the seaport’s partners for their unrelenting support. Our continued growth and success are a result of strong collaborations.” 

Norwegian Cruise Line to Host 2024 Investor Day

Norwegian Cruise Line Holdings announced that it will host its 2024 Investor Day on May 20 at the New York Stock Exchange, NYC.

According to a press release, the event will feature presentations and a Q&A session with Harry Sommer, president and chief executive officer, as well as other members of the company’s senior leadership team.

Attendance at the live event is by invitation only and will be broadcast online, available to all interested parties. A replay of the webcast and related slide presentations will remain accessible on NCL’s website for an additional 30 days.