KfW sees “limited supply” on cruise market

CruiseIn an interview prior to the upcoming SMM trade fair in Hamburg, Dr. Carsten Wiebers, departing head of the bank’s maritime industries department, revealed insights into his view of the current cruise market.

Wiebers called the cruise industry to be "maturing" and being in no risk of producing the next bubble. Quite the contrary, he remarks that global cruise penetration was only 1.8% and that there was still a huge potential to gain market shares from land-based tourism.

Unlike other maritime markets, according to Wiebers, "the supply side is limited", with the KfW manager indicating at the fact that capacities at the respective shipyards are well booked in advance, sometimes for the upcoming five years.

Frankfurt-based KfW (Kreditanstalt für Wiederaufbau) through its subsidiary KfW-IPEX Bank is one of the world's leading banks for tailor-made financing solutions, specializing in export and project finance, among them ship newbuilds.

Source: KfW interview on SMM trade website from September 1