Page 6: of Maritime Reporter Magazine (February 2025)

Editorial

MARITIME

REPORTER

AND

ENGINEERING NEWS

M A R I N E L I N K . C O M

HQ 118 E. 25th St., 2nd Floor

New York, NY 10010 USA

T +1.212.477.6700

CEO John C. O’Malley s I write this on the ? nal [email protected] day of the ? rst month of

President & COO

Publisher & Editor 2025, outside my window

Greg Trauthwein

Photo Justin Zurre [email protected]

Ain New York is crusty consumer spend dollar. The cruise shipping

Editor - MarineNews remnants of snow and ice, grey skies

Joseph Keefe industry is particularly synonymous with the [email protected] and a wind chill that will cut you in half.

United States, as we are the ‘cruise giant’

Offshore Energy Editor

That is perfect juxtaposition to this month’s

Amir Garanovic with a ? eet worth an estimated $58.6 billion, cover, a beautiful new Carnival Cruise ship [email protected] the lion’s share of the cumulative $116.4 bil- sailing in clear, sunny skies, presumably a

Production Manager

Irina Vasilets lion U.S. ? eet, a number that gives the U.S. fair bit warmer than my current situation.

[email protected] the #4 ranking in the world premised on ? eet

A shade less than ? ve years ago, the picture

Production & Graphic Design

Nicole Ventimiglia value according to the most recent statistics for the cruise shipping sector was decidedly [email protected] from Veson Nautical’s VesselsValue. (see different. If you remember, going into Covid

Corporate Staff

Manager, Marketing related story on page 43 to get insights on the the global cruise sector was the literal poster

Mark O’Malley momalley@marinelink world’s Top 10 ? eets by value.) child for Covid, as people and crews were

Accounting

Today, that Covid-induced cruise indus- stranded on ships at ports around the world,

Esther Rothenberger [email protected] try cash burn has reversed course, as Barry unable/not allowed by local authorities to +1.212.477.6700 ext 6810

Parker writes starting on page 28. This lead disembark lest they spread this new mystery

Manager, Information Technology Services paragraph quote from Josh Weinstein, CEO

Vladimir Bibik disease. Cruise operations were effectively of Carnival Corp.

Circulation shut down almost overnight, and in the

Kathleen Hickey | [email protected] “This has been an incredibly strong ? nish ensuring 12 to 24 months if a cruise ship was +1.212.477.6700 ext 6320 to a record year. Revenues hit an all-time not sent to the scrap yard, it was a mammoth,

Sales

Vice President, Sales high driven by a strong demand environ- ? oating open aorta of cruise company cash

Terry Breese [email protected] | +1.561.732.1185 ment that we elevated throughout the year, ? owing into the sea. At the time I remember

Lucia Annunziata enabling us to outperform our initial 2024 ‘if this industry can recover, it will take a [email protected] +1.212.477.6700 ext 6240 guidance by $700 million and deliver nearly decade or longer.’ (A thought process which,

John Cagni $2 billion more to the bottom line, year-over- obviously, is proof positive of why I write [email protected] | +1.631.472.2715 year,” with overall revenue surging above about the industry and don’t run it!)

Frank Covella [email protected] | +1.561.732.1659 $25 billion in 2024. “2025 is shaping up to

As we all know now, the end of Covid and

Mike Kozlowski be another banner year …”. Parker breaks the onerous restrictions that accompanied it [email protected] | +1.561.733.2477 down the investments from the ‘Big 3 + Dis- unleashed a torrent of pent-up demand for

Gary Lewis ney’ in new ships, amenities and destinations.

[email protected] | +1.516.441.7258 leisure travel, a demand that proved particu-

As for me? It’s time to get back outside to

International Sales larly positive for the cruise sector, which

Scandinavia & Germany start shoveling some snow!

Roland Persson, Orn Marketing AB, Box 184, historically delivers fantastic value for the

S-271 24, Ystad, Sweden [email protected]; +46 411 184 00 Founder:

John J. O’Malley [1905 - 1980]

Charles P. O’Malley [1928 - 2000]

John E. O’Malley [1930 - 2019]

Gregory R. Trauthwein

Publisher & Editor [email protected] 6 Maritime Reporter & Engineering News • February 2025

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