Over 20 Cruise Ships in Secondhand Market Looking for New Operators
In the secondhand market, there are currently over 20 cruise ships eagerly waiting for new operators. These ships come in a variety of sizes and styles, from small coastal vessels to large contemporary liners. Among them is the imposing Mykonos Magic, a 2,720-guest ship recently acquired by Seajets and currently docked in Greece. The Greek operator also owns three other ships, all available for sale. Meanwhile, in other parts of the world, veteran ships like the 1973-built Aegean Odyssey and the 1948-built Astoria are also seeking new owners. In Japan, the Pacific Venus is facing an uncertain future after its operator shutdown, and in the United States, four coastal vessels are also looking for fresh opportunities. With the complete list of vessels in limbo presented in the Cruise Ship Secondhand Market Report, there’s plenty of potential for new investors in the cruise industry.
State of the Secondhand Market for Cruise Ships
Overview of the current market
The secondhand market for cruise ships is experiencing a unique situation with over 20 ships currently looking for new operators. These ships are spread across different regions and range in size and type. From small coastal vessels to large contemporary cruise liners, there is a variety of options available in the market.
Impact of the COVID-19 pandemic
The COVID-19 pandemic had a significant impact on the cruise industry, leading to many cruise ships being laid up and seeking new operators. With travel restrictions and reduced demand for cruising, cruise lines were forced to make difficult decisions regarding their fleets. This resulted in a surplus of ships in the secondhand market.
Expected future trends
In the future, we can expect the secondhand market for cruise ships to continue to be active. As the industry recovers from the pandemic, cruise lines may look to acquire secondhand ships as a cost-effective way to expand their fleets. Additionally, new operators may enter the market, taking advantage of the available ships to launch their own cruise lines.
Profile of Cruise Ships in Limbo
Small coastal vessels
Among the cruise ships currently in limbo are small coastal vessels. These ships are typically used for shorter itineraries and are popular for exploring coastal regions and small ports. The availability of these ships in the secondhand market provides opportunities for operators looking to offer niche cruises.
Large contemporary cruise liners
In contrast to small coastal vessels, there are also large contemporary cruise liners in the secondhand market. These ships are designed to accommodate a large number of passengers and offer a wide range of onboard amenities. Acquiring a secondhand contemporary cruise liner can be a cost-effective option for cruise lines looking to expand their capacity.
Veteran ships on the market
The secondhand market also includes veteran ships that have been in operation for many years. These ships may have a unique charm and history, making them attractive to certain operators and passengers. However, it is important to consider the maintenance and refurbishment costs associated with older ships when considering their purchase.
Case Study: The Mykonos Magic
Its former operation by Costa Magica
The Mykonos Magic, formerly known as Costa Magica, was once operated by Costa Cruises. Costa Magica was a popular cruise ship known for its Italian-inspired design, spacious cabins, and extensive onboard amenities. It offered Mediterranean itineraries, showcasing the beauty of the region.
Acquisition by Seajets
Seajets, a Greek ferry operator, acquired the Mykonos Magic in February. This acquisition was part of Seajets’ buying spree during the COVID-19 pandemic, as the company saw an opportunity to expand its operations in the cruise industry. The Mykonos Magic became one of the eight cruise ships owned by Seajets.
Current status and future prospects
Currently, the Mykonos Magic is docked in Greece, waiting for a decision regarding its future. As the cruise industry recovers, Seajets may choose to either operate the ship under its own brand or sell it to another operator. The large capacity and attractive features of the Mykonos Magic make it a valuable asset in the secondhand market.
Seajets’ Acquisition Spree during the Pandemic
Total number of cruise ship acquisitions
Seajets made a total of eight cruise ship acquisitions during the COVID-19 pandemic. This aggressive buying spree allowed the company to establish a significant presence in the cruise industry and position itself for future growth.
Focus on Holland America’s former Veendam, Royal Caribbean’s former Majesty of the Seas, and P&O’s former Oceana
Among Seajets’ acquisitions are Holland America’s former Veendam, Royal Caribbean’s former Majesty of the Seas, and P&O’s former Oceana. These ships offer different capacities and features, catering to a diverse range of cruise preferences. The availability of these ships in the secondhand market provides opportunities for potential buyers.
Reasons behind the buying spree
There are several reasons behind Seajets’ buying spree during the pandemic. Firstly, the low demand for cruising resulted in many cruise lines offloading their ships, creating favorable conditions for acquisitions. Secondly, Seajets saw an opportunity to expand its operations and enter the cruise market at a time when competition was limited. Finally, the company anticipated the eventual recovery of the cruise industry and recognized the long-term potential of owning a fleet of cruise ships.
Veteran Ships in the Market
Focus on the 1973-built Aegean Odyssey
The 1973-built Aegean Odyssey is a veteran ship currently in the secondhand market. With its extensive history, this ship offers a unique experience for passengers seeking a nostalgic cruise experience. However, potential buyers should carefully consider the costs associated with maintaining and refurbishing an older ship.
Impact on the 1948-built Astoria
The 1948-built Astoria is another veteran ship available in the secondhand market. Despite its age, this ship has been well-maintained and is still operational. However, the Astoria’s future prospects depend on finding a buyer who appreciates its historical value and has the resources to invest in necessary upgrades.
Current status and future prospects
Both the Aegean Odyssey and the Astoria are currently laid up, awaiting new operators. The availability of these veteran ships provides opportunities for operators who wish to offer a unique and memorable cruising experience. However, it is essential to carefully assess the financial implications of acquiring and refurbishing these older ships.
Future of Ships in Japan
Predictions for the 696-guest Pacific Venus
The future of the 696-guest Pacific Venus is uncertain following the closure of its original operator, Venus Cruise. This ship, known for its intimate atmosphere and luxurious amenities, may attract buyers who are interested in entering the Japanese cruise market. However, the challenges associated with acquiring a ship previously operated by a defunct company should be carefully evaluated.
Impact of Venus Cruise’s closure
The closure of Venus Cruise has had a significant impact on the Japanese cruise industry, leaving the Pacific Venus without an operator. This has created an opportunity for new operators to enter the market and acquire an established ship with a dedicated following. However, the financial stability and reputation of potential buyers will be crucial in determining the future of the Pacific Venus.
Market prospects for new operators
With the availability of ships like the Pacific Venus, new operators have the opportunity to enter the Japanese cruise market. The demand for domestic cruises in Japan is expected to increase as travel restrictions ease and more people seek unique travel experiences. However, new operators must carefully navigate the competitive landscape and adapt to changing consumer preferences.
Outlook for American Coastal Ships
Ships operated by Blount Small Ships
Several coastal vessels in the United States are currently seeking new operators. Previously operated by Blount Small Ships, these ships offer unique itineraries along the American coast and inland waterways. The availability of these ships presents an opportunity for operators looking to cater to the growing demand for domestic cruising.
Fate of the Grande Mariner and the Grande Caribe
Two ships, the Grande Mariner and the Grande Caribe, operated by Blount Small Ships, have been out of service since the beginning of the COVID-19 pandemic. The fate of these ships depends on finding new operators who can restore their operations and offer memorable cruising experiences along the American coast.
Available delivery options starting in October
In addition to the ships operated by Blount Small Ships, two coastal vessels, the Ocean Navigator and the Ocean Voyager, will be available for delivery starting in October. These ships, previously operated by American Queen Voyages, present an opportunity for operators looking to enter the American coastal cruise market.
Cruise Ship Secondhand Market Report Analysis
Details from the September update
The September update of the Cruise Ship Secondhand Market Report provides valuable insights into the current state of the market. This report includes information on the ships currently in limbo, annual cruise ship transactions, retirements, and key charters. The data presented in this report enables industry professionals to make informed decisions regarding ship acquisitions and market trends.
List of vessels currently sitting in limbo status
The report provides a comprehensive list of cruise ships currently in limbo. This list includes details such as ship names, capacities, and current locations. By analyzing this list, potential buyers can identify ships that meet their specific requirements and explore potential acquisition opportunities.
Annual list of cruise ship transactions and moves
The Cruise Ship Secondhand Market Report also includes an annual list of cruise ship transactions and moves. This information offers insights into the dynamics of the market, including sales, retirements, and key charters. Industry professionals can use this data to track market trends and identify potential opportunities for growth.
Implications for the Global Cruise Ship Index
Impact on ship sales and transfers
The surplus of cruise ships in the secondhand market has implications for the Global Cruise Ship Index. The availability of a large number of ships provides opportunities for operators to acquire vessels and expand their fleets. This increased supply may lead to competitive pricing and more favorable terms for buyers.
Performance of the luxury and expedition markets
The secondhand market for cruise ships also reflects the performance of the luxury and expedition markets. The availability of luxury and expedition ships in the secondhand market indicates the impact of changing consumer preferences and market dynamics. Potential buyers can use this information to assess the demand for specific types of ships and tailor their offerings accordingly.
Statistical data on ships in service
The Global Cruise Ship Index relies on statistical data on ships in service to provide accurate information on the cruise industry. The secondhand market plays a crucial role in shaping this data, as ships change ownership and operators. By analyzing the trends and patterns in the secondhand market, the Global Cruise Ship Index can provide valuable insights into the industry at large.
The Market for Drydocking and Refurbishment
Role of refurbishments in the secondhand market
Refurbishments play a significant role in the secondhand market for cruise ships. Buyers often seek to update and improve the condition of secondhand ships to meet the expectations of modern travelers. Drydocking and refurbishment companies play a vital role in facilitating these upgrades, ensuring that ships meet the latest safety and comfort standards.
Current trends and market projections
The market for drydocking and refurbishment is expected to experience growth as the demand for secondhand ships increases. Operators and buyers will continue to invest in upgrading ships to offer modern amenities and comply with environmental regulations. Market projections indicate an increased focus on sustainability and energy efficiency in ship refurbishments.
Cruise line suppliers’ role in the market
Cruise line suppliers play a crucial role in the market for drydocking and refurbishment. These suppliers provide the necessary equipment, materials, and services to facilitate ship upgrades. As the secondhand market grows, cruise line suppliers will need to adapt to the evolving needs and demands of buyers and operators.
In conclusion, the secondhand market for cruise ships is currently experiencing an influx of ships seeking new operators. From small coastal vessels to large contemporary cruise liners, there are a variety of options available in the market. The COVID-19 pandemic has significantly impacted the industry, leading to this surplus of ships. However, as the industry recovers and travel restrictions ease, we can expect the secondhand market to remain active, with new operators entering the market and existing players expanding their fleets. The availability of veteran ships, such as the Aegean Odyssey and the Astoria, and unique ships like the Pacific Venus, presents opportunities for operators looking to offer distinct cruising experiences. The market for drydocking and refurbishment also plays a vital role in the secondhand market, with operators and buyers seeking to upgrade ships to meet modern standards. Overall, the secondhand market for cruise ships is dynamic and presents opportunities for growth and innovation in the industry.
