Page 30 - IAADFS Summit 2023 Special Edition

INSIDER

Analyzing the State of the Cruise Industry at the 2023 Seatrade Cruise Global keynote conference was BBC World News Presenter & Anchor, Lucy
Hockings; Carnival Corp. CEO Josh Weinstein; Pierfrancesco Vago, Executive Chairman, Cruise Division, MSC Group; Royal Caribbean Group
President and CEO Jason Liberty, Norwegian Cruise Line Holdings President and CEO Frank Del Rio (in his last appearance on this panel),
and Kelly Craighead, President & CEO, Cruise Lines International Association.

Moving Forward: keynote State of the Industry dominated by the new guard

With the announcement on March Craighead, President & CEO, Cruise Lines sustainability,” he argued. But cruising will
20 that Norwegian Cruise Line Holdings International Association. not reach its net-zero goals until biofuels
Ltd. President and Chief Executive Officer “This was the perfect time to step are available, he said.
Frank Del Rio would be retiring effective down,” said Del Rio in response to the “Available, affordable and scalable,”
June 30, three of the four major cruise question of why now? “The industry is added Liberty. “And we need to have our
companies traditionally participating in the ready and the future is bright. With the ships prepared to take on the alternative
Seatrade State of the Industry keynote are company solidly positioned for 2023 and energy as it becomes available.”
now headed by a “new guard.” beyond, I am confident that now is the right
Richard Fain retired as Royal time to pass the baton to Harry.” Do cruisers care?
Caribbean Group CEO in January 2022 “We have just completed the world’s Moderator Lucy Hockings of BBC
after 33 years at the helm; and was largest start-up in history,” said Carnival’s World News queried the panel on whether
succeeded by former CFO Jason Liberty, Weinstein, referring to the restart after the these sustainability efforts might attract
46. Arnold Donald retired as president and unprecedented lock-down of the cruise millennials and younger generations.
CEO of Carnival Corp., a position he held industry in response to the COVID-19 “Everybody cares about sustainability
since 2013, and was replaced by COO Josh pandemic. “Now we have to get back to some degree but are they willing to pay
Weinstein, 48. to profitability and focus on the guest for it?” said Del Rio, who thinks that the
Del Rio, who is also stepping back experience, which is something that we do cruise industry is not charging enough for
from NCL’s Board of Directors, will serve really well,” he added. what it delivers.
as a consultant, staying on as a senior “It’s so great to be making money
advisor to the Board through 2025. The again,” quipped Liberty, whose Royal Pricing and value
company named Harry J. Sommer, 55, who Caribbean and Celebrity brands are Weinstein pointed out that cruises are
has been chief executive of Norwegian delivering a record year. 25% to 50% cheaper than a land-based
Cruise Line since 2020, as its new CEO Although much of the morning’s vacation, but agreed that the industry is not
effective July 1. Del Rio spent three discussion centered on the quest for net- explaining this value strongly enough. “We
decades in the cruise business and has led zero emissions and cleaner sustainable need to do a better job talking about the
the company since 2015. fuels, Del Rio argued that the industry was value that we offer.”
Only Pierfrancesco Vago, Executive in danger of losing sight of the customer. Vago added that much of the public
Chairman, Cruise Division, of privately- “We will all do whatever the science sometimes doesn’t know what the cruise
owned MSC Group (in addition to his allows us to do,” he said. “But the purpose industry is doing about sustainability and
position as Global Chair of Cruise Lines of the cruise industry is to provide great responsible tourism. The “big ship” in the
International Association) will remain of holidays for the customer.” harbor is an easy target for many things
the “old guard.” MSC’s Vago, who stressed that his that go wrong.
In addition to Del Rio and Vago, the company takes a long-term vision, says “We need to do a better job when
2023 Seatrade State of the Industry panel that cruising is just a tiny sliver of the telling our story,” he stressed.
included keynote panel moderator and maritime industry, but it is leading the way CLIA’s Craighead ended the
BBC World News Presenter & Anchor, in decarbonization efforts. discussion on a positive note: “Cruising is
Lucy Hockings, RCL’s Jason Liberty, “We lead the industry in innovation sexy and sustainable and offers something
Carnival Corp.’s Josh Weinstein and Kelly and we are creating the demand for for everyone,” she said.

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