Page 7 - 2024 Drydocking and Refurbishment Report

Drydock & Refurb

on the existing fleets to keep pace with the latest generation of
vessels.
A cruise ship can easily have a 40-year expected service life,
and change operators at least once as it starts to age.
According to Cruise Industry News estimates, over a 40-year
service period, a ship would drydock a minimum of 283 days.

Salt Air and Salt Water
Throughout the lifespan of a vessel, nearly every component
undergoes replacement. The corrosive effects of salt air and
water, along with the wear and tear caused by passengers and
crew, are pain points for cruise lines but represent opportunity
for subcontractors.
On the technical front, aging or outdated items are swapped
out for more efficient counterparts. This can range from new LED
lights to HVAC updates, new propeller blades and anything that
will add efficiency or sustainability to a cruise ship.
Over the years, items delivering ROI are quickly bought by
cruise companies, such as new ovens and even in some cases,
replacing engines.
As cruise lines introduce new ships with innovative features,
there is a knock-on impact for the rest of the fleet. New designs,
new restaurant concepts and new features are often rolled back
across the fleet.
Bigger projects over the years have seen ships cut in half and
stretched, decks added, balconies added and much more. Much
of this has been centered around adding capacity into a cruise
ship in an effort to drive higher returns on a fixed asset.
Case in point, for the stretching of the Silver Spirit in 2018
at a cost of $70 million, Silversea increased the ships capacity
from 540 to 608 guests, which meant an estimated annual „

Cruise Industry News: 2024 Drydocking and Refurbishment Report 11