SHIPPAX MARKET22 The 2021 Ferry, Cruise, Ro-Ro and High-Speed Year in Review with Analyses and Statistics 24 YEARS 1998 - 2022PUBLISHED BY: Shippax PO Box 7067 SE-300 07 HALMSTAD Sweden Tel: +46-35 218370 info@shippax.se www.shippax.com Published annually since 1998. Shippax AB also produces Shippax Guide, Shippax Designs (annually), Shippax Info (monthly) and Shippax Database (online). PRICE: SEK 3,495 – EUR 328 – USD 347 Airmail postage will be added. Fixed price in SEK. Rates of exchange may vary. SUBSCRIPTION: subscription@shippax.se If you have ordered this copy of SHIPPAX MARKET22 directly from the publisher, a copy of SHIPPAX MARKET23 will be automati- cally sent to you on the assumption that you will not want to miss out on the important industry information and our expert analyses. Should you decide not to continue with the subscription, please let us know in advance so that we may remove you from our list of subscribers. PUBLISHER: Elizabeth Mandersson elizabeth@shippax.se EDITOR-IN-CHIEF: Victor Mandersson ADVERTISING: advertising@shippax.se PRINTED AND BOUND BY: DanagårdLiTHO AB, Ödeshög, Sweden FRONTCOVER PHOTO: George Giannakis • Contributing authors do not necessarily reflec the opinions of the editors. • Information believed to be correct but cannot be guaranteed. • No reprint or further distribution without written permission by Shippax. © Shippax AB, Halmstad, Sweden SHIPPAX MARKET is owned by Shippax AB, reg.no. 556937-9414 ISSN: 1403-3305 SHIPPAX GUIDE The register. With theme articles. SHIPPAX MARKET Market reports & outlook. Traffic statistics. SHIPPAX DESIGNS New prototypes. With theme articles. SHIPPAX MARKETUpfront The world has been patiently awaiting the insufferable pandemic to run its loathsome course. Just as a barely perceptible hint of light gradually begins to illuminate the obscured distant horizon, the sky above is suddenly darkened by yet another excruciating crisis. Europe is once again at war. The future, which has been in an accelerated state of flux, is now even more indeterminate. While sailing in the choppy sea under the darkened sky, the cruise and ferry industry also finds itself constantly looking fearfully ahead and asking “What next?”. This t wo-word question is pregnant with a pprehension and foreboding. At the same time, as if these oppressive conditions aren’t enough, the r egulatory environment becomes increasingly hostile towards shipping. Every breath the i n dustry takes must now have an often- costly sustainability dimension. In spite of these inimical forces, we can all take comfort in the fact that the cruise and ferry industry has not only survived the crises, it has become more in novative and, in some aspects, strengthened. Moreover, we are beginning to see some performance figures overtaking those of the pre-pandemic years. Ships are still being built and delivered. Fleet capacities are expanding in anticipation of better days to come. Optimism reigns and co nfidence undiminished. But profitability is as yet indiscernible in the ferry sector; losses are imponderably deep and debts are mounting exponentially in cruise business. In the midst of the seemingly impossible exhaustion, strength must be found to continue navigating the choppy sea under the darkened sky. Weaker players may fall by the wayside. To ward off the effects of the obstinate crises, and those yet to come, structural changes are taking place in the industry: we see unmistakable evidences of the ferry sector consolidating and the cruise sector de-consolidating. A new world is emerging. The editorial team PHOTO: GEORGE GIANNAKIS SHIPPAXMARKET22 · 3 www.shippax.com4 · SHIPPAXMARKET22 www.shippax.com UPFRONT 3 FERRY MARKET & OUTLOOK 6 CRUISE MARKET & OUTLOOK 56 RO-RO MARKET & OUTLOOK 102 HIGH-SPEED MARKET & OUTLOOK 150 FERRY STATISTICS 174 CRUISE STATISTICS 254 PORT STATISTICS 260 ADVERTISERS’ INDEX 272 6 102 CONTENTS 174SHIPPAXMARKET22 · 5 www.shippax.com 260 150 56 254TEXT: ALAN LAM & KARI REINIKAINEN www.shippax.com FERRY MARKET & OUTLOOK Page Foreword 9 Executive summary 10 Tonnage supply 11 Refits & conversions 2021-2022 22 Sales & charters 23 Volumes carried 26 New & discontinued routes 28 Major operators 30 M&A, joint ventures, & insolvencies 36 Port development updates 37 Financial & volume performance review 40 SWOT-Analysis 50 Outlook 51 Main events 2021 52 6 · SHIPPAXMARKET22 www.shippax.com PHOTO: GEORGE GIANNAKIS SHIPPAXMARKET22 · 7 Next >