Table of Contents
Introduction
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- New-build orders dry up
- Sourcing continues to go global
- Cruising’s major economic boost to Europe
- Shortage of credit also affects port development
- Shipbuilders face uncertain future
- Future outlook
Data Sources
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- Abbreviations
Overview
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- Impact of economic downturn on cruising
- To fill or not to fill
- On-board revenue plays important part in industry resilience
- Trading up the key
- Big three dominate global cruise scene
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- Figure 1: Top three cruise companies’ total berths, 2008-12
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- Figure 2: Top three companies' share of capacity, 2002-12
- Top three financial performances vary in 2008/09
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- Figure 3: Carnival Corporation financial results, 2006-09
- Disappointing results for RCC
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- Figure 4: Royal Caribbean Cruises’ results, 2006-08
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- Figure 5: Royal Caribbean Cruises’ results, 2008-09
- Star trims losses while NCL starts to thrive
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- Figure 6: Star Cruises’ group results, 2006-08
- Figure 7: Star Cruises (excluding NCL), results, 2008-09
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- Figure 8: NCL corporation, results, 2006-08
- Figure 9: NCL corporation, results, 2008-09
Industry Structure
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- Figure 10: Brands owned by top three cruise companies, 2010
- Figure 11: Key brands (main markets) owned by other companies, 2010
- New ship orderbook cut by a third in two years
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- Figure 12: New ships on order, 2010-13
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- Figure 13: Worldwide cruise supply/demand, 2008-25
- Figure 14: Largest capacity cruise brands, 2010 and 2013*
- Economies of scale
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- Figure 15: Average capacity of new ships, 2000-12
- Figure 16: New ships by cruise sector, 1990-2012
- Sector development: product segmentation
- Contemporary brands – case studies
- Carnival Cruise Lines
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- Figure 17: Carnival Cruise Lines’ fleet/orderbook, 1 February 2010
- Royal Caribbean International
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- Figure 18: Royal Caribbean International fleet/orderbook, 1 February 2010
- Costa Cruises
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- Figure 19: Costa Cruises fleet/orderbook, 1 February 2010
- Norwegian Cruise Line
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- Figure 20: Norwegian Cruise Line fleet/orderbook, 1 February 2010
- MSC Cruises
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- Figure 21: MSC Cruises fleet/orderbook, 1 February 2010
- AIDA Cruises
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- Figure 22: Aida Cruises fleet/orderbook, 1 February 2010
- Star Cruises
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- Figure 23: Star Cruises fleet, 1 February 2010
- Disney Cruise Line
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- Figure 24: Disney Cruise Line fleet/orderbook, 1 February 2010
- New contemporary brand
- Budget brands – case studies
- Louis Cruise Lines
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- Figure 25: Louis Cruise Lines fleet, 1 February 2010
- Thomson Cruises
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- Figure 26: Thomson Cruises fleet, 1 February 2010
- Ocean Village
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- Figure 27: Ocean Village fleet, 1 February 2010
- Other budget brands
- Premium brands – case studies
- Princess Cruises
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- Figure 28: Princess Cruises fleet/orderbook, 1 February 2010
- Holland America Line
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- Figure 29: Holland America Line fleet/orderbook, 1 February 2010
- Celebrity Cruises
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- Figure 30: Celebrity Cruises fleet/orderbook, 1 February 2010
- P&O Cruises
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- Figure 31: P&O Cruises fleet/orderbook, 1 February 2010
- Cunard Line
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- Figure 32: Cunard Line fleet/orderbook, 1 February 2010
- Fred Olsen Cruise Lines
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- Figure 33: Fred Olsen Cruise Lines fleet, 1 February 2010
- Saga Cruises
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- Figure 34: Saga Cruises/Spirit of Adventure fleet, 1 February 2010
- Other premium brands
- Sail (or sail-assisted) cruise brands – case studies
- Star Clippers
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- Figure 35: Star Clippers fleet, 1 February 2010
- Windstar Cruises
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- Figure 36: Windstar Cruises fleet, 1 February 2010
- Coastal, soft adventure and expedition cruising
- Premium-plus brands – case studies
- Oceania Cruises
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- Figure 37: Oceania Cruises fleet, 1 February 2010
- Azamara Club Cruises
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- Figure 38: Azamara Club Cruises fleet, 1 February 2010
- Luxury brands – case studies
- Silversea Cruises
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- Figure 39: Silversea Cruises fleet, 1 February 2010
- Regent Seven Seas Cruises
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- Figure 40: Regent Seven Seas Cruises fleet, 1 February 2010
- Seabourn Cruise Line
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- Figure 41: Seabourn Cruise Line fleet/orderbook, 1 September 2010
- Crystal Cruises
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- Figure 42: Crystal Cruises fleet, 1 September 2010
- Seadream Yacht Club
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- Figure 43: Seadream Yacht Club fleet, 1 September 2010
- Other luxury brands
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Global Cruise Market
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- North America
- Resilience in face of global economic downturn
- Deployment decisions put a halt to North American growth
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- Figure 44: North American cruise passengers, 1998-2008
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- Figure 45: North American cruises, by cruise line, 2005-08
- Figure 46: Top destinations from or via US ports for North American passengers, 2005-09
- Survey shows potential demand still high
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- Figure 47: North American Ocean Cruise, passenger demographics, 2008
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- Figure 48: US resident cruise passengers, by state, 2003-08
- Figure 49: North American cruises, by cruise length, 2005-08
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- Figure 50: Best price when buying a cruise, 2004 and 2008
- Figure 51: Best service when buying a cruise, 2004 and 2008
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- Figure 52: Best way to contact travel agent, 2002, 2006 and 2008
- Figure 53: Usage of travel agents to book cruises, 2002-08
- North American impact rises despite stalled passenger growth
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- Figure 54: Economic impact of North American cruise industry on the US economy, 2005-08
- Figure 55: Main US industries benefiting from cruise tourism, 2006 and 2008
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- Figure 56: Passenger/crew spending in the US, 2006-08
- Figure 57: US states earning most from cruising in 2008 (2006)
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- Figure 58: North American cruise industry, 2005-08
- Figure 59: North American passengers on multi-day cruises, 2006-09
- Alaska head tax causes rift with cruise industry
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- Figure 60: Cruise visitors to key Alaska cruise ports, 1996 and 2008
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- Figure 61: Scheduled calls and passenger capacities to Alaska, 2009-10
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- Figure 62: Sector shares of summer tourism arrivals in Alaska, 2008 and 2010
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- Figure 63: Alaska visitor industry taxes, 2003-08
- Figure 64: Cost* for cruise ships calling at North/Central American and Caribbean ports pre- and post-2006
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- Figure 65: Juneau visitor volume and spending, 2007-08
- Figure 66: Cruise ship and passenger fee revenues for Juneau, 2008
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- Figure 67: Cruise line/tour-operator spending in Juneau, 2007-08
- Figure 68: Visitor industry spending in Juneau, by sector, 2007-08
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- Figure 69: Visitor industry jobs and income in Juneau, 2007-08
- Figure 70: Projections of cruise traffic economic impact, 2008 and 2010
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- Figure 71: Visitor spending on Ketchikan, 2008
- Canadian ports hit by Alaska downturn
- More ports emerge to cash in on New England/Canada popularity
- US West coast ports need ‘green’ light for expansion
- Hawaii environmental study plays down cruise-related pollution
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- Figure 72: Hawaii cruise passenger volumes and projections, 1996-2018
- Figure 73: Net value of cruise industry to Hawaiian Islands, 2007
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- Figure 74: Statewide (Hawaii) cruise/hotel utilities usage, 2007
- Figure 75: Current estimated/projected statewide costs of cruise ship air emissions, 2007-18
- Everglades set to be world cruising’s number one homeport
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- Figure 76: Revenue cruise passengers through Miami, 2000-08
- Mexico benefits from cruise tourism leadership
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- Figure 77: Cruise tourism to Mexican regions, 2008-09
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- Figure 78: Economic impact of cruise tourism to Mexico, 2006-07*
- Figure 79: Passenger expenditures, 2006-07*
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- Figure 80: Crew expenditure, 2006-07*
- Caribbean cruise tourism volatility hits benefits
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- Figure 81: Average passenger/crew daily spend ashore in Caribbean and Central America, 2008/09 (2005/06)
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- Figure 82: Caribbean employment/wages from cruise tourism, 2008-09 (2005/06)
- Figure 83: Direct Caribbean/Mexico cruise expenditure, 2008/09 (2005/06)
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- Figure 84: Caribbean and bermuda cruise vistors, 2007-09
- Changes to ambitious Falmouth cruise port project
- River cruising
- Europe
- Is Europe the new centre of gravity for cruising?
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- Figure 85: Total economic impact of cruise industry in Europe, 2006-08
- Figure 86: Total economic impact of European cruise industry, 2005-08
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- Figure 87: Economic impacts of European cruise industry, 2006-08
- Figure 88: Cruise line compensation shares, by country, 2008 (2006)
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- Figure 89: European cruise market, by destination, 2004-08
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- Figure 90: Destination share for leading European source markets, 2008
- Figure 91: Destinations for UK passengers, 2003-08
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- Figure 92: Cruise visitors to Europe, by country of destination, 2006-08
- Figure 93: Cruise passengers, by country of embarkation, 2006-08
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- Figure 94: World's top 50 cruise ports of call, 2008
- Figure 95: World’s top 20 cruise homeports, 2008
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- Figure 96: Leading Mediterranean homeports, 2006-08
- Figure 97: Leading Mediterranean cruise home ports, 2006-08
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- Figure 98: Cruise visitors at Spanish ports, 2006-08
- Shore power conundrum
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- Figure 99: North American and European source markets, 1998-2008
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- Figure 100: European cruise market, 1998-2008
- Figure 101: Growth in value of cruises compared with package holidays booked in European markets, 2006-07*
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- Figure 102: Shares of European source market, 2008 (2007)
- Figure 103: European ocean cruise passengers, 2005-08
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- Figure 104: European cruise market, by destination, 2004-08
- Figure 105: Destination share for European source markets, 2008
- UK leads the way
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- Figure 106: UK ocean cruise passengers, 1998-2010
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- Figure 107: UK ocean cruise share of foreign holidays market, 1997-2008
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- Figure 108: Age analysis, 1998-2008
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- Figure 109: UK-UK Cruises vs Flycruises, 2004-08
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- Figure 110: Regional destinations for UK passengers, 2003-08
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- Figure 111: UK-UK port and flycruise passengers, 2005-08
- Impressive growth for UK and continent
- UK port developments
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- Figure 112: Cruise passengers at UK ports, 2003-08
- Figure 113: UK port of call passengers, 2003-08
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- Figure 114: Total economic impact of cruise tourism in Dover, 2007*
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- Figure 115: Age of cruise visitors to Dover, 2008
- Figure 116: Nationality of cruise passengers calling at Dover, 2008
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- Figure 117: Age of crew visiting Dover, 2008
- Lack of suitable dock holds back London
- Travel agents dominate cruise distribution network
- River cruises stagnant
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- Figure 118: Destinations for UK river cruise passengers 2004-08
- Continental Europe catching up – Germany accelerating
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- Figure 119: German ocean cruise passengers, 1998-2008
- Italy’s fast brand growth
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- Figure 120: Italian cruise market, 2003-08
- Venice goes it alone
- Rocky year for Spain
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- Figure 121: Spanish cruise market, 2003-08
- Figure 122: Brand shares of Spanish cruise market, 2008
- More positive news from French market
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- Figure 123: French cruise market, 2003-08
- Seasonal issues in Northern Europe
- Mediterranean ports take the lead
- Atlantic islands and coastal cruise ports
- Northern Europe’s cruise tourism growth and economic impact
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- Figure 124: Northern European cruise traffic, 2006-08
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- Figure 125: Most popular Northern European ports, 2006-08
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- Figure 126: Leading homeports in Northern Europe, 2006-08
- Figure 127: Baltic cruise passengers, by nationality, 2007-08
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- Figure 128: Norwegian fjords cruise visitors, by nationality, 2007-08
- Figure 129: Continental Europe (North) and UK/Ireland cruise vsitors by nationality, 2007-08
- Destinations the key
- Economic benefits identified
- EU funding options
- Growth in other emerging markets
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- Figure 130: Ocean cruise passengers worldwide, 2005-08
- Asia
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- Figure 131: Cruise industry development in Hong Kong, 2007-18
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- Figure 132: Singapore cruise traffic, 1997-2008
- Chinese investment in cruise accelerates
- Cruise companies continue to add Asian capacity
- Australasia
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- Figure 133: Australian cruise market, 2002-08
- Lack of capacity at Sydney could slow Australian growth
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- Figure 134: Australian cruise industry, 2006-09
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- Figure 135: Cruise shipping economic impact in Australia, 2005-09
- Figure 136: Cruise industry economic impact on Australian ports, 2008/09
- Australia boosts New Zealand cruise arrivals
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- Figure 137: Nationality of cruise passengers through New Zealand, 2007-08
- Figure 138: New Zealand cruise tourism, 2000/01-2007/08
- Figure 139: Total cruise traffic through New Zealand, 2004/05-2007/08
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- Figure 140: Cruise tourism contribution to New Zealand GDP, 2001/02-2007/08
- Figure 141: Cruise industry direct expenditure in New Zealand, 2008-09
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- Figure 142: New Zealand cruise industry employment, 2007/08
- India and the Indian Ocean
- Middle East
- South America
- The next big thing?
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- Figure 143: Cruise visitors/calls to Colombian ports, 2000-09
- Figure 144: Cruise visitors to Colombia by port, 2005-09
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- Figure 145: Economic growth of selected latin American countries, 2006-08
- Figure 146: Nationality of cruise visitors to Colon 2000, 2008
Shipbuilding and Shipbuilders
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- Figure 147: New ships on order, 2010-13
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- Figure 148: Shipbuilders' share of cruise ship berths built for delivery, 1970-2012
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- Figure 149: Cruise industry expenditure for newbuildings and refurbishment, (by country benefiting), 2006-08
- Fincantieri market leader
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- Figure 150: Fincantieri orderbook at 1 February 2010
- Meyer Werft confirmed as number two
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- Figure 151: Meyer Werft orderbook at 1 February 2010
- STX Europe hardest hit
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- Figure 152: STX Europe (Finland) orderbook at 1 February 2010
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- Figure 153: STX Europe (France) orderbook at 1 February 2010
- Refurbishments replace some of new-build work for shipyards
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What Next?
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- Regulation and taxation threats
- Cruise lines consider kite-flying
- Larger is greener and cheaper
- Small ships with big ship savings
- Big Brother comes to cruising
- EU’S new interest in cruising
- More health and safety issues
- Shore power the answer?
- Fewer port calls?
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