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New giants of the sea set to rival industry leaders

Updated: Mar 19

Norwegian Cruise Line (NCL) is making waves in the cruise industry with the announcement of its largest ships to date, a bold move designed to compete directly with Royal Caribbean’s record-breaking fleet.
Norwegian Encore, NCL’s largest ship, weighs 169,116 GT, carries 3,998 passengers and 1,735 crew, and was built in 2019 by Meyer Werft, Germany. Photo: NCL
Norwegian Encore, NCL’s largest ship, weighs 169,116 GT, carries 3,998 passengers and 1,735 crew, and was built in 2019 by Meyer Werft, Germany. Photo: NCL

The company has confirmed plans for four new massive vessels, each with a staggering gross tonnage of approximately 226,000.


The ships will be built at the Fincantieri Monfalcone shipyard, with the first unit to be delivered in 2030 and the others to follow in 2032, 2034, and 2036. With over 5,100 berths, the ships will be able to accommodate over 8,300 people, including crew. Designed according to the highest standards of comfort and technology these ships will also include sustainability features.

A new era for Norwegian Cruise Line

For years, Norwegian Cruise Line has been known for its focus on premium cruising experiences with flexible dining, entertainment, and high-end amenities. However, its largest ship to date, the Norwegian Encore, comes in at 169,116 gross tons and accommodates about 4,000 passengers—significantly smaller than some of Royal Caribbean’s recent mega-ships. With these new vessels, NCL is signaling its intent to compete in the growing market for ultra-large ships.


The new class of ships will bring NCL in line with industry leaders in terms of size and passenger capacity. This expansion represents a major shift in strategy, as the company looks to attract a broader audience and compete head-to-head with Royal Caribbean, which has dominated the mega-ship segment for years.


Competing with Royal Caribbean's mega-ships

Royal Caribbean currently leads the industry with the Icon of the Seas, which debuted in early 2024 as the world's largest cruise ship. With a gross tonnage of approximately 250,800 and a maximum guest capacity of 7,600, the Icon of the Seas has redefined what’s possible in modern cruising, offering everything from massive waterparks to eight distinct neighborhoods filled with entertainment, dining, and luxury accommodations.


By comparison, NCL's upcoming vessels will be slightly smaller but will still surpass previous records for the company. This new fleet will allow Norwegian Cruise Line to challenge Royal Caribbean’s dominance in the mega-ship category while appealing to a growing audience seeking all-in-one vacation experiences.

The rise of the mega-ship trend

The cruise industry has been moving towards larger and more feature-packed ships for over a decade. As seen with Royal Caribbean’s Oasis-class and Icon-class vessels, bigger ships allow for more onboard attractions, from Broadway-style theaters and water parks to virtual reality arcades and skydiving simulators.


Other cruise lines, including MSC Cruises and Carnival Cruise Line, have also expanded their fleets with larger ships, recognizing that travelers increasingly want an immersive, resort-like experience at sea. Carnival’s Mardi Gras, for example, introduced the first rollercoaster at sea, while MSC’s World Europa debuted futuristic designs with environmentally friendly features like LNG propulsion.


Norwegian Cruise Line's new ships are expected to feature state-of-the-art amenities to compete with these industry giants. While specific details about onboard attractions and facilities have not yet been disclosed, the company will likely incorporate cutting-edge technology, sustainable innovations, and enhanced entertainment options to differentiate itself from competitors.

Sustainability and environmental considerations

As cruise ships grow in size, so do concerns about their environmental impact. In response, the industry has been shifting towards greener technologies, including liquefied natural gas (LNG)-powered ships, energy-efficient designs, and improved waste management systems.


Norwegian Cruise Line has already committed to reducing its carbon footprint, with initiatives such as Norwegian Prima, which features improved fuel efficiency and onboard sustainability measures. It remains to be seen whether NCL’s newest mega-ships will be LNG-powered or incorporate alternative energy solutions to comply with global emission regulations.

What this means for the cruise industry

With these ambitious expansion plans, Norwegian Cruise Line is positioning itself as a stronger contender in the high-capacity cruise market. The battle between NCL and Royal Caribbean will intensify as both companies continue to push the boundaries of ship design, onboard experiences, and passenger capacity.

For travelers, the emergence of more mega-ships means even more options for all-inclusive, entertainment-packed vacations at sea. Whether you're looking for thrilling water slides, Michelin-star dining, or Broadway-caliber performances, the future of cruising is set to deliver an unparalleled level of excitement and luxury.

As Norwegian Cruise Line's new vessels take shape, one thing is clear: the cruise industry is only getting bigger—literally.


Facts about Norwegian Cruise Line

Company Overview

  • Name: Norwegian Cruise Line Holdings Ltd. (NCLH)

  • Headquarters: Miami, Florida, USA

  • Brands: Norwegian Cruise Line, Oceania Cruises, Regent Seven Seas Cruises

  • CEO: Harry Sommer

  • Employees: Approximately 41,000 (as of 2023) As of 2024, Norwegian Cruise Line (NCL) operates a fleet of 19 ships, each varying in size, passenger capacity, and year of construction.

History

  • 1966: Founded as Norwegian Caribbean Line by Knut Kloster and Ted Arison.

  • 2000: Acquired by Star Cruises, a subsidiary of Genting Hong Kong.

  • 2007: Apollo Management, a private equity firm, purchased a 50% stake in NCL.

  • 2013: NCLH became a publicly traded company on the New York Stock Exchange under the ticker symbol NCLH.

Ownership

NCLH is a publicly traded company with shares listed on the New York Stock Exchange. Its ownership is distributed among institutional and individual investors. Major stakeholders have included entities such as Genting Hong Kong and Apollo Management, though specific current ownership percentages may vary.

Financial Performance

  • 2023:

    Revenue: $8.549 billion

    Operating Income: $134.8 million

    Net Income: $166.17 million

    Passengers Carried: Approximately 1.8 million

    Revenue Breakdown:

    Ticket Sales: 67.3%

    Onboard Services: 32.7%


  • Third Quarter 2024:

    Revenue: $2.8 billion (11% increase from Q3 2023)

    Net Income: $474.9 million (37% increase from Q3 2023)

    Earnings Per Share (EPS): $0.95 (up $0.24 from Q3 2023)

  • Full Year 2024 Guidance:

    Adjusted EPS: Projected between $1.32 to $1.42, citing strong demand.


NCLH's recent financial results indicate a robust recovery and growth trajectory, with significant increases in revenue and net income, as well as optimistic projections for the upcoming year.


Fincantieri's origins trace back to 1908 when it was first established as Cantiere Navale Triestino. It officially became Fincantieri in 1959 as part of a major reorganization of Italy’s shipbuilding industry. Photo: Gary Brembridge, Flickr CC BY 2.0
Fincantieri's origins trace back to 1908 when it was first established as Cantiere Navale Triestino. It officially became Fincantieri in 1959 as part of a major reorganization of Italy’s shipbuilding industry. Photo: Gary Brembridge, Flickr CC BY 2.0
Fincantieri Monfalcone shipyard – Quick Facts

  • Location: Monfalcone, Friuli-Venezia Giulia, Gulf of Trieste, Italy

  • Established: Founded in 1908, Monfalcone Shipyard was originally established by Cantiere Navale Triestino.

  • Owned by: Fincantieri, one of the world's largest shipbuilding companies

  • Specialization: Construction of large cruise ships, naval vessels, and commercial ships

  • Notable Projects: Ships for Norwegian Cruise Line (NCL), Royal Caribbean, MSC Cruises, and Princess Cruises

  • Size: One of the largest shipyards in Europe, covering over 750,000 square meters

  • Workforce: Around 4,000 employees and thousands of subcontractors

  • Recent Builds: Norwegian Prima, Sun Princess, and MSC Seascape

  • Current Projects: NCL’s new 226,000-ton mega ships, set for delivery between 2030 and 2036

  • Acquired by Fincantieri in 1984, it became one of the company’s primary shipbuilding sites.

  • Over the years, it transitioned from military and cargo ship production to specializing in large cruise ships, making it one of the most advanced yards in Europe.

  • The shipyard played a crucial role in revitalizing Italy’s shipbuilding industry, contributing to the global cruise market boom. Modern capabilities

    Production Capacity: Can build multiple 200,000+ GT ships simultaneously.

    Sustainability: Implementing greener shipbuilding practices, including LNG propulsion and reduced emissions technology.

    Innovation: Focused on hydrogen-powered and zero-emission ship designs for future cruise vessels.


Notable cruise ships built at Monfalcone

Norwegian Cruise Line (NCL)

  • Norwegian Prima (2022) – 142,500 GT, 3,100 passengers

  • Norwegian Viva (2023) – 142,500 GT, 3,100 passengers

  • Upcoming 226,000-ton ships (2030–2036) – Over 8,300 passengers

Royal Caribbean

Princess Cruises

MSC Cruises


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