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Q3 2024 Earnings Report Highlights

Based on the latest earnings reports of the leading public cruise corporations—Carnival Corporation, Royal Caribbean Group (RCG), and Norwegian Cruise Line Holdings (NCLH) —the cruise industry is thriving, evidenced by strong financial performance, robust pricing, increased onboard spending, and incremental capacity additions...

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Seaports and Airports: Comparing the Efficiency & Growth of International Travel Hubs

This BA Perspective explores how the world’s largest cruise ports compare to their airport counterparts and...

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Repurposing & Expanding Existing Marine Terminals

Repurposing an existing marine terminal can be a cost-effective and efficient way to provide cruise facilities...

Q2 2024 Earnings Report Summary

In the second quarter of 2024, the leading public cruise corporations—Carnival Corporation, Royal Caribbean Group (RCG), and Norwegian Cruise Line Holdings (NCLH) — have demonstrated impressive financial performance...

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BA Perspectives Spotlight: Alaska Cruise Region

Alaska is almost halfway through another record-setting season and in full recovery mode. This region is an iconic, bucket-list destination, leading various cruise operators to expand their presence with more vessels and deploy the largest ships ever to the region to meet growing demand from North American and other world consumer markets...

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Viking Cruises is joining the list of Publicly Traded Cruise Corporations.

Viking Cruises, founded by Torstein Hagen in 1997, is a premier cruise line renowned for its luxury river and ocean cruises. Initially focusing on river cruises in Europe, Viking expanded into the ocean luxury cruise market in 2015 with a fleet of expedition and luxury ships focused on destination-centric itineraries and cultural enrichment.

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How CII Could Impact Ports & Itineraries

The Carbon Intensity Indicator (CII), introduced by the IMO in 2023, measures the environmental efficiency of ships by evaluating CO2 emissions per nautical mile traveled. This regulation aims to reduce the shipping industry's carbon footprint to combat climate change...

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Q1 2024 Earnings Report Summary

In the first quarter of 2024, the leading public cruise corporations—Carnival Corporation, Royal Caribbean Group (RCG), and Norwegian Cruise Line Holdings (NCLH) — have set a promising tone for the remainder of 2024. Below, we examine the factors behind their success, including increased profit expectations fueled by a record wave season, ongoing expansion and investments in private destinations, and a significant uptick in "new to cruise" guests in the first quarter of 2024...

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BA 2024 Database Perspectives Spotlight: Caribbean Cruise Region

The Caribbean is gearing up for a record breaking 2024. Below, is a detailed look at what is driving this success, utilizing BA’s 2024 cruise itinerary database. BA examined the Caribbean’s itinerary breakdown, types of vessels responsible for maintaining and propelling the Caribbean’s large market share and which ports of call are poised to welcome the most visitors in 2024...

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Q4 2023 Earnings Report Summary

The leading public cruise corporations—Carnival, Royal Caribbean, and Norwegian—concluded 2023 on a high note, as demonstrated by their Q4 earnings reports. This bulletin delves into key themes that have contributed to the outstanding performance of the three major publicly traded brands during 2023...

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Unveiling BA's 2024 Comprehensive Cruise Itinerary Insights

BA unveils its expansive 2024 cruise itinerary database, spanning 13,700 sailings across 47 brands and 320 ships globally. Our database offers an in-depth perspective on the cruise industry’s landscape for 2024, as each sailing includes insights into the vessel particulars, homeport, port of calls, cruise length, and so much more...

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With 2023 coming to a close, BA explores what is in store for 2024

With the cruise industry having successfully rebounded from the pandemic in 2023 – characterized by surpassing 2019 levels in several key metrics: expanded its capacity with more lower berths available, achieved higher occupancy rates and ticket prices, and welcomed a greater number of passengers in 2023...

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Q3 2023 Earnings Call Summary

With the final earnings report for Q3 2023 released by the last of the big three public Cruise Corporations yesterday, they all continued to show strong post-pandemic recovery and resilience. Most cruise operators not only met their targets, but surpassed the guidance and expectations set in the last quarter’s earnings reports...

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Shore Power Adoption in the Cruise Industry

In BA’s previous bulletins, we outlined the cruise industry’s push toward decarbonization, the exploration of alternative fuel options, and how ports will play a significant part in this transition. One key technology and noteworthy initiative is the adoption of Shore Side Electricity (SSE) or shore power...

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Q2 2023 Earnings Report Summary

The Q2 2023 earnings reports from leading cruise companies underscore the cruise industry's remarkable resilience and adaptability. These mid-year insights reveal a vigorous resurgence, with many operators achieving or even surpassing their 2019 net yields and occupancy rates...

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The Port’s Role in the Decarbonization of the Cruise (& Shipping) Industry

In our last bulletin, we talked about the cruise industry’s push toward decarbonization, and the exploration of various alternative fuel options such as LNG, methanol, and biofuels. The key takeaway was that decarbonization will be a collaborative effort across the entire maritime industry. It will take everyone to develop a sustainable and scalable supply chain that can support the widespread implementation of green fuels. Port’s will play a significant part of this transition. However, a port’s ability to support the introduction and scaling of alternative fuels is challenging for many reasons...

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Green Fuels in the Cruise Industry – A Sustainable Path Forward

The cruise industry is embarking on a sustainability voyage, seeking innovative solutions to reduce its environmental impact and embrace greener practices. The Cruise Lines International Association (CLIA) has committed to reducing the rate of carbon emissions across the industry fleet by 40% by 2030, aligning with the IMO's current GHG strategy, and a more ambitious pursuit of net carbon-neutral cruising by 2050...

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Q1 2023 Earnings Report – Key Themes and Takeaways

With the last of the big three public companies wrapping up their Q1 2023 earnings reports last week, it’s time for BA’s summary of the key takeaways and themes trending today, and what that means for the future of the industry. BA identified several themes that each operator is focused on today. The bulletin outlines these themes and provides a summary of how the industry is shaping up for the future...

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How did 2022 end up and what happens next in 2023

2022 was a monumental transition year where operators placed ships back in operation throughout the first half of the year. After almost three years of uncertainty, the restart was successful, but with mixed results by markets and brands. What happens next in 2023 with the cruise industry that now has its fleet back in operation? This bulletin explores where the industry is today, compares 2022 metrics with those in 2019, and provides guidance as to what 2023 will look like – its challenges and opportunities...

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Ports should get ready for an increase in shorter itineraries

The Caribbean cruise market is experiencing a significant increase in passenger numbers, but it is not only because more capacity is being placed in this market but because a dramatic shift has occurred in the length of the short Caribbean itinerary market. The trend towards shorter cruise patterns, such as 3/4 night and 5/5/4 night programs, is significantly shifting as a percentage of the total Caribbean traffic. ...

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Projects Section

BA Portfolio Highlight

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Port Galveston Cruise Terminal 10

Galveston Wharves Cruise Terminal is a two story, 160,000 square-foot terminal building designed to maximize cruise terminal operations while creating a welcoming environment for passengers and crew...

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Nassau Cruise Port Global

BA’s design for the waterfront features a completely transformed Port and Welcome Center, additional mega berths to accommodate the largest cruise ships in the world...

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Port Miami Terminal A

BA was commissioned by RCCL as the architect of record for the new flagship state-of-the-art high-tech Terminal A...

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Port Tampa Bay Channelside Strategic Master Plan

Bermello Ajamil & Partners, Inc. BA, in conjunction with the Renaissance Planning Group, is preparing a Master Plan of the Tampa Port Authority’s Waterfront Properties...

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Ocean Cay Marine Reserve

Ocean Cay was a 5-year design-build project that BA led as the prime consultant. The ultimate vision for Ocean Cay was to reinvent what a cruise destination island should be for its guests...

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PortMiami Terminal B

Terminal B accommodates cruise vessels of more than 5,000 passengers, and features new technology to support quicker and more efficient embarkation and disembarkation processes, as well as expedited security screening and luggage check-in...