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Royal Caribbean Cruise Ship Loads to Reach 95% in Third Quarter
Cruise firm Royal Caribbean has shared an optimistic outlook for the cruise industry, saying its load factors are expected to reach 95% in the third quarter.
Load factors in the second quarter were 82% on average, the company said in an earnings release this week, and are expected to reach 95% on average in the third quarter.
Booking volumes received in the second quarter for the back half of 2022 sailings were 'significantly higher' than in the pre-COVID era volumes received in the second quarter of 2019 for the back half of that year, the company said.
"Consumers' propensity to travel and cruise remains strong," Jason Liberty, CEO of Royal Caribbean, said in the statement.
"We continue to see a robust and accelerating demand environment for cruising and on-board spend.
"Cruising remains a very attractive value proposition for vacationers, and today we have an opportunity to further close the value gap to other land-based vacation offerings."
The cruise segment takes up about 4% of global bunker demand, but at some ports such as Miami, its presence in the local bunker market is much larger.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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