47 new cruise ships are on the orderbooks scheduled for delivery through 2022. They represent a building value of nearly $38 billion or $216,000 per berth.

The 9 ships that Carnival Corp. recently signed memorandums of understanding to construct and take delivery of during 2019-2022 period (not yet assigned to brands) are included in the orderbook.

More newbuild orders might come within the same period from Royal Caribbean as the line is expected to order another couple of Quantum-class ships. NCL Norwegian, Crystal Cruises and start-up Virgin Cruise Line, are all in, not to lose the growth moment.

Compared to 22 million in 2015, by 2022 global cruise industry will be able to carry over 30 million passengers. But while a 36% capacity increase over 7 years seems staggering, cruise industry grew by the same percentage over the past 7 years (2008-2015), driven mainly by Europe, Asia-Pacific region (plus Australia), in addition to North and South America.

The growth rate in Europe and North America has slowed down as the cruise market has broadened. South America has declined. In case that Europe and North America continue to grow at the current expansion rate, cruise companies are staking their future on Asia-Pacific region, notably China, which has to generate 5 million cruisers annually to fill the fleet by 2022.