GPH-Global Ports Holdings expects strong rise in cruise passenger volumes

   May 16, 2023 ,   Cruise Industry

The Istanbul-based GPH-Global Ports Holdings plc - the world's largest cruise port operator - expects a strong rise in cruise passenger volumes for its current financial year along with a growing fleet to drive investment in port facilities around the globe.

In a trading statement the company said that in the 2024 Reporting Period, they expected to welcome 11.8 million passengers to their consolidated and managed cruise port portfolio. In the 12 months to March 31st, 2023, the group handled 9.2 million passengers. 

“Our inorganic growth aspirations continue and we expect to add San Juan Cruise Port and St Lucia Cruise Port to the network in the 2024 Reporting Period with additional opportunities under review.” 

GPH points out that the scheduled launch of newbuilds in the year ahead means the number of available berths across the global fleet will reach all-time highs in 2024. It said cruise industry booking patterns had been rebuilt to market norms over the last 12 months, and all major lines had reported record booking trends for 2023.  

Looking further into the future, demand and supply trends in the industry have re-established themselves as the key drivers of cruise industry growth.

Revenues in the 12 months to March 31st, 2023, rose to US$213.4M from US$128.4M in the same period a year earlier. Adjusted EBITDA rose to US$72.7M from US$7M.

On the news, shares in the company that is listed in London UK rose by 10%.

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