Impact of COVID-19 on the Global Cruise Industry: Hot Topic Brief - Issue 6

Impact of COVID-19 on the Global Cruise Industry: Hot Topic Brief - Issue 6

  • June 2020 •
  • 23 pages •
  • Report ID: 5914380 •
  • Format: PDF
Impact of COVID-19 on the Global Cruise Industry: Hot Topic Brief - Issue 6

Summary
COVID-19, commonly referred to as the Coronavirus, is dominating headlines the world over. The travel & tourism sector is suffering significant disruption and the cruise industry is being greatly impacted.

Key Highlights
- Demand is returning to Norway. After announcing nine new Norwegian voyages to sail in June 2020, SeaDream has doubled capacity in Norway to meet what the company called overwhelmingly high demand. SeaDream said it was planning on sailing to Norway with only one ship but now after seeing the response in Norway, the company has decided to add sailings on SeaDream II to meet demand.
- Big changes need to be expected from the cruise industry. Passenger ship interiors will need “radical rethinking” to enable higher standards of hygiene and adequate social distancing. The claim has been made by architecture and design firm YSA Design as lines look to prepare their vessels for the post-pandemic era following a shutdown of global operations. The Oslo-based company, which has experience in cruise ship interior design, believes a return to ‘business as usual’ cannot be expected any time soon.
- Cancelations continue to go on. Princess Cruises has been forced to cancel select sailings in Canada, Australia and Taiwan due to port closures, according to a press release. Guests currently booked on these canceled voyages, who have paid Princess in full, will have the option to receive a refundable Future Cruise Credit (FCC) equivalent to 100% of the cruise fare paid plus an additional non-refundable bonus FCC equal to 25% of the cruise fare.

Scope
- This report provides insight into the current state of play, offers a look at potential future scenarios and assesses the actions that cruise lines can take to mitigate the impact of COVID-19.

Reasons to Buy
- Gain an overview of the current global COVID-19 situation
- Understand the impact that COVID-19 is having on the industry
- Explore future industry scenarios
- Assess possible mitigating actions
- Compare key industry players’ actions
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