In the conference's opening address, Cruise Lines International Chairman Mark Conroy gave an upbeat assessment of the current state and near future of the cruise industry.
Conroy, president and CEO of Radisson Cruises, noted that 2003 saw an improved travel climate and continued industry growth.
"We saw renewed strength in the stock market, higher consumer confidence, an average consumption rate of 102.6 percent and a record 9.5 million cruise vacationers last year," he said.
Sources of ongoing concern for the industry include terrorist acts and elevated security levels, the economy, additional berth capacity and such potential health threats as SARS.
Conroy addressed the notion of overcapacity by pointing out that "even in years of peak cruise ship capacity growth, demand has exceeded increases." He noted that in 2002, capacity rose 12.3 percent, but was offset by a 15.3 percent rise in number of passengers. In 2003, an 8.9 percent capacity rise was offset by more than 10 percent more cruisers.
"2004 caps a five-year building boom during which 62 ships entered the CLIA fleet, but looking ahead we will see a lull in new ship introductions," Conroy said.