SHIPPAX MARKET23 The 2022 Ferry, Cruise, Ro-Ro and High-Speed Year in Review with Analyses and Statistics 25 YEARS 1998 - 2023PHOTO: SØREN LUND HVIID PUBLISHED 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 3,995 – EUR 342 – USD 372 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 MARKET23 directly from the publisher, a copy of SHIPPAX MARKET24 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 ADVERTISING: advertising@shippax.se PRINTED AND BOUND BY: By Wind, Ödeshög, Sweden FRONTCOVER PHOTO: Christian Costa • 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 SHIPPAXMARKET is owned by Shippax AB, reg.no. 556937-9414 ISSN: 1403-3305 SHIPPAX GUIDE The register. With theme articles. SHIPPAXMARKET Market reports & outlook. Traffic statistics. SHIPPAXDESIGNS New prototypes. With theme articles. SHIPPAX MARKETUpfront Halfway into the third year of the third decade of the new millennium, looking back, no one can justifiably deny the eventfulness of the past 20 years for the cruise and ferry industries. From financial crisis to pandemic, to war in Europe, and to accelerated regulatory development, to name but a few, these two shipping sectors have survived all the onslaughts and are once again on the threshold of thriving, typified by record bookings and best-ever financial performances by some key players. In the cruise sector, in particular, the recovery so far has been rapid and phenomenal, almost as if someone had thrown a switch and added steroids to the mix, despite having lost arguably the best parts of the Black Sea and East Baltic, not to mention the slow re-opening of China. Though war and economic malcontent continue, over the years, the ferry sector seems to have grown accustomed to troubles of such unspeakable magnitudes, confronting them with an admirable degree of aplomb and taking them in its strides. The focus is now again firmly on performances, market shares, and sustainability. While a new optimism and fresh dynamism are palpa- ble, the detritus and scars left by recent storms are still much in evidence. This is particularly salient in the case of the shrunken newbuilding orderbooks. The ferry sector suffered an inevitable structural alteration, as it is usual in such cases. The losses of passenger volumes have also brought about over- capacity issues in some regions, but these need not be a disaster. Spare vessels can be and are chartered out for alternative purposes, thus generating different kinds of much-needed revenues. Everything is transitory and is often still in a state of flux. This is what the cruise and ferry sectors must be mindful of for some time to come. While the cruise segment celebrates windfalls, ferry companies continue to be guided by innovative spirits and flexibility. Resi- lience has underscored everything. This issue of SHIPPAX MARKET has been a joy to compile, as it is assembled with cheerier news and more positive data. It has been altogether a pleasanter expe- rience after the doom and gloom of the past two years. The editorial team PHOTO: MARITIME PHOTOGRAPHIC SHIPPAXMARKET23 · 3 www.shippax.com4 · SHIPPAXMARKET23 www.shippax.com UPFRONT 3 FERRY MARKET & OUTLOOK 6 CRUISE MARKET & OUTLOOK 56 RO-RO MARKET & OUTLOOK 106 HIGH-SPEED MARKET & OUTLOOK 146 FERRY STATISTICS 172 CRUISE STATISTICS 252 PORT STATISTICS 260 ADVERTISERS’ INDEX 272 6 106 CONTENTS 172SHIPPAXMARKET23 · 5 www.shippax.com 260 146 56 252TEXT: ALAN LAM & KARI REINIKAINEN www.shippax.com FERRY MARKET & OUTLOOK Page Foreword 9 Executive summary 10 Tonnage supply 11 Refits & conversions 2022-2023 21 Sales & charters 23 Volumes carried 27 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 2022 52 6 · SHIPPAXMARKET23www.shippax.com PHOTO: GEORGE GIANNAKIS SHIPPAXMARKET23 · 7 Next >