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Charter Market Report


Charter Market Report January - March (Q1) 2024 Overview

During the first quarter of 2024, the charter booking activity experienced a slowdown in terms of weeks booked across all major destinations compared to the resilient market observed in 2023. Both the Winter and Summer seasons have seen a decrease in the total number of charters secured in 2024 year-to-date (YTD). However, the booking pattern by cruising locations remains consistent with that of 2023.

The winter charter season has not shown the same strength as the previous year, despite the Caribbean and the Bahamas maintaining their market shares in the region. Looking at the charter bookings secured in the Mediterranean thus far, the West Mediterranean is lagging behind compared to last summer in terms of market share in the region. However, an increase in bookings is anticipated thanks to last-minute and special rate offers as the peak season approaches.

Although the global charter fleet has continued to expand during the first quarter of the year, it has done so at a slower pace than in 2023.The 2023 charter market has exhibited all-in-all healthy activity, following a record-breaking 2022.

In this most recent edition of the CHARTER MARKET REPORT we provide a synopsis of the prevailing state of the charter market in 2024 year-to-date and an outlook for the upcoming summer season. IYC is closely following the charter market and client trends, which are shaping the industry as a result of global events.

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