When Viking, then a successful river cruise line, announced in 2013 that it was going to launch ocean cruise ships, the initial plan was for six vessels. Not only did the company meet that goal, but exceeded it, with the 10 they have now introduced internationally (one has since been rededicated to the Chinese market).
And, remarkably, the brand is planning yet another 10 by 2030.
Due to a dense haze of smoke caused by recent Canadian wildfires, the bow of the newest ship, Viking Saturn, was shrouded some when godmother Ann Ziff, chairman of the Metropolitan Opera, officially named the ship in New York. But that didn’t damper the spirit of the celebration, which included the presence of Torstein Hagen, chairman of Viking, as well as performances by crossover soprano Sissel Kyrkjebo and talented vocalists from the Metropolitan Opera.
“This is a very proud day for Viking, as we name our newest identical ocean ship in New York City, one of the great cultural capitals of the world,” Hagen said. “It is especially fitting that Ann Ziff, chairman of the Metropolitan Opera — one of the world’s greatest cultural institutions — has honored us by serving as godmother of the Viking Saturn. We thank Ann for her loyalty as a Viking guest, as well as her many impressive contributions to the arts and other important causes.”
Viking Saturn
Saturn follows nearly identical Viking Star, Viking Sea, Viking Sky, Viking Sun (now Zhao Shang Yi Dun), Viking Orion, Viking Jupiter, Viking Venus, Viking Mars and Viking Neptune, and another 10 ships are expected to follow. The next series will be slightly larger, in part to support next-generation, hydrogen-powered propulsion technology — which is only a fraction of the plans Viking has on the horizon.
While onboard Saturn, Hagen gave a familiar presentation outlining what sets Viking ocean ships apart, including “residential” qualities that make them feel like “a floating vacation home.”
The executive pointed out that while liquefied natural gas (LNG) has been popular in cruise industry conversations about fuel lately, he is instead in favor of more sustainable hydrogen fuel cells. In fact, Neptune currently has a testing plant onboard for the future fuel.
When asked about other means of power, Hagen even noted that nuclear could eventually see the light of day.
Post-Pandemic Success
Taking a step back to look at the company as a whole, Viking says it has fully recovered from the pandemic. Its 2019 and 2022 revenue both totaled $3 billion in tickets, and profitability has rebounded to $375 million in 2022 versus $769 million in 2019 — a significantly higher percentage of recovery than Viking estimates of corporate competitors. What’s more, its delta in revenue growth from 2015 to 2022 has been 90%, greatly outpacing others, according to the line.
Viking cites several reasons for its success, including its singular customer-centric brand and clearly defined customer group — curious and interested, well-educated and affluent English speakers in the 55+ age bracket.
Also, despite the pandemic, Viking launched 16 total vessels from 2020 to 2022: three ocean vessels (Venus, Mars and Neptune), two expedition ships (Viking Octantis and Viking Polaris), 10 international riverboats and the domestic Viking Mississippi.
Hagen admits to a few “teething” problems on the new Mississippi River product, but he believes it will soon come up to the brand’s usual standards.
Looking to the Future
In regard to bookings for this and next year, 96% of river capacity (12% higher than this time in 2019) and 89% of ocean capacity (53% above 2019) has already been sold, and for 2024, 31% of river and 49% of ocean space has also been reserved.
According to Hagen, Viking has been “ordering ships right, left and center,” and many more vessels for each segment are on their way. By 2026, this includes another 14 riverboats, with three in Egypt (one each year from 2023 to 2025), and another ship for the Mekong in 2025. Plus, five more longships are planned for Europe in 2025, with another five coming in 2026.
Ocean-wise, the line’s 11th and 12th ships are already under construction for launch in December 2024 and July 2025, respectively, and an additional four are under contract from 2026 to 2028. Through 2030, four more are options with the shipyard, which could amount to 20 Viking ocean ships (though some may go to China).
Looking further out, as Hagen says, “I have a few years left,” further plans for Viking under his leadership could expand into land operations. During his presentation, he said he could see ocean ships heading to Africa along the coast, but also guests going inland for safaris.
After all, he believes the spirit of Viking is that “nothing is impossible.”
