Summer Cruise Prices Drop in Alaska and Caribbean Due to Overcapacity

Major cruise lines are offering discounted summer fares after having to reposition several vessels from the Red Sea due to the ongoing conflict between Hamas and Israel.

Ongoing attacks in Israel have disrupted the usual schedules of several cruise ships. Instead of heading to the region, many of these ships are now sailing to North America, creating an unforeseen surplus of cruises to these destinations.

“The beautiful thing about cruise ships is that they have the ability to move and be redeployed without notice, allowing us to adapt to changing circumstances,” Michael Bayley, President of Royal Caribbean International.

Figures pulled from the AAA travel group show that Royal Caribbean’s seven-day Bermuda and Caribbean sailings experienced the most drastic price drop. Compared to May 2023, its interior cabins are now 21% cheaper. Meanwhile, Norwegian Cruise Line’s fares are 12% lower, while the price of Carnival Cruise Line’s voyages decreased by 11%.

According to Christian Savelli, a cruise analytics director from Oxford Economics, 8% more vessels are sailing the Caribbean this year. 

The same trend has been noticed in Alaskan itineraries. Carnival Cruise Line’s summer sailings for July and August are 20% cheaper than last year. Royal Caribbean’s voyages are 6% lower in July and 12%  less than August 2023. Similar to the Caribbean, vessels plying Alaskan waters are 9.3% higher in 2024.

The discounted fares are generally available on older ships sailing from the United States, with itineraries scheduled for the second half of 2024. 

New Vessels Continue to Charge Premium Rates

Despite the season’s lower prices, introducing new vessels has allowed cruise lines to charge more expensive fares.

The popular Icon of the Seas continues to command premium prices of $500 to $1,000 higher per passenger. In 2022, bookings for the world’s largest ship helped Royal Caribbean achieve its single-largest booking day.

But for those who don’t mind traveling on older vessels, this momentary dip offers attractive opportunities to join cruises for less money.

READ: What if my cruise price drops after the final payment?