Cruise Lines Just Ordered 185,000 Berths—Here’s the Catch

Cruise ship orders are roaring back: as of October 1, 2025, roughly 70 new vessels are on the books for the next decade, adding about 185,000 berths and $64.8 billion in build value, according to Cruise Industry News. The bet is clear—bigger ships, more capacity, and alternative fuels—but so are the risks.

What 185,000 berths actually means

Cruise Industry News (CIN) tallies around 70 ships on order across the next 10 years. That pencils out to an average of roughly 2,600–2,700 berths per ship and an average cost near $350,000 per berth (a back-of-the-envelope calculation based on CIN’s totals). Scale is the trendline: larger platforms unlock more revenue venues per square foot and improve operating economics.

CIN also notes fresh additions at the margins, including LNG-powered ships for TUI Cruises at Fincantieri slated for 2031–2032. LNG isn’t a silver bullet for emissions, but it’s a visible pivot away from conventional marine fuels—and a signal that alternative-fuel capabilities are now table stakes on blueprints.

Orderbook at a glance (CIN)

~70 ships on order
~185,000 berths to be added
~$64.8 billion in shipbuilding value
New LNG-powered tonnage added for 2031–2032

Why cruise lines are doubling down

On paper, capacity growth can look like a gamble. In practice, the thesis is straightforward: larger, more efficient ships tend to earn better margins. New hardware draws premium pricing at launch, supports higher onboard spend, and helps lines phase out less efficient tonnage.

There’s also a portfolio angle. A wave of high-efficiency ships spreads fixed costs over more guests and opens new categories—think family suites, extra-fee attractions, and specialty dining—without adding proportionate crew costs. For brands with private destinations, bigger ships drive captive-day economics. CIN’s update underscores that builders and buyers are aligning around those economics—plus alternative-fuel readiness to keep options open as regulations tighten.

The fuel wildcard hiding in plain sight

Per CIN, a meaningful slice of the orderbook is LNG-powered or alternative-fuel capable. That matters for two reasons. First, operations: LNG can cut certain emissions versus heavy fuel oil. Second, optionality: designs that are “ready” (for methanol, shore power, or future retrofits) hedge against policy shifts and port requirements over a 25–30 year asset life.

None of this is free. LNG systems add weight and complexity, and port LNG bunkering remains uneven globally. Methanol- or multi-fuel-capable designs can future-proof but also raise integration costs and supply risk. The strategic bet is that flexibility today avoids stranded assets tomorrow.

Yard slots, timing—and the real bottleneck

The cruise newbuild market remains concentrated among a handful of European yards, and CIN’s note about TUI’s Fincantieri deliveries in 2031–2032 hints at the reality: prime slots are spoken for years in advance. That lead time magnifies three risks:

Cost inflation: Steel, skilled labor, and systems pricing can creep over a multi-year build.
Design drift: Tech doesn’t stand still. What’s cutting-edge at contract signing can look dated at delivery.
Financing costs: Capital-intensive assets are sensitive to interest rates and currency swings across a long timeline.

The flip side? A measured cadence of deliveries spreads out market absorption. Lines can ladder debuts to avoid cannibalizing older ships and sequence refurbishments to keep portfolios fresh.

What it means for cruisers and ports

More berths usually translate to more inventory, new routes, and a fresh wave of ship features. But the near-term guest impact isn’t one-size-fits-all.

Pros

Newer ships with improved efficiency, entertainment, and stateroom options
More sailings and itinerary variety as fleets scale
Better odds of shore power and modern emissions tech at major ports

Cons

Newbuild premiums: inaugural seasons often command higher fares
Big-ship dynamics: more guests per call can strain smaller ports
Fuel infrastructure gaps could limit where alternative-fuel ships homeport

Signals to watch next

Here’s what could nudge this orderbook from a win to a wobble—or vice versa:

Delivery pace vs. demand: If ships arrive faster than demand grows, pricing power softens.
Fuel infrastructure: Expansion of LNG bunkering and shore power will shape deployment choices.
Regulatory clarity: Emissions rules and incentives will influence retrofit decisions and fuel picks.
Cost discipline: Change orders and supply chain snags can blow up budgets.
Secondary market moves: Accelerated sales or retirements of older ships will show how lines balance growth with efficiency.

Quick stats

Total ships on order (next decade): ~70 (CIN)
Total berths to be added: ~185,000 (CIN)
Estimated average berths per ship: ~2,640 (calc from CIN)
Total orderbook value: ~$64.8B (CIN)
Estimated average cost per berth: ~$350k (calc from CIN)

Bottom line

According to Cruise Industry News, the cruise orderbook is not just back—it’s bigger, cleaner, and pricier. The industry is buying efficiency and fuel flexibility in bulk. If ports and fuel infrastructure keep pace, lines get operating leverage and guests get shinier ships. If they don’t, some of those expensive bets could be anchored to the handful of places ready to support them.

Summary

~70 ships and ~185,000 berths are on order over the next decade (CIN)
LNG and alternative-fuel capabilities are increasingly standard on new designs
Yard capacity and fuel infrastructure will determine how smoothly this growth lands
Expect new-ship premiums and larger vessels—but watch for port bottlenecks