Fears over excess capacity in the Chinese cruise market have largely subsided, according to Japanese investment bank Nomura.
“Too much capacity growth in China in the past 18 months has reduced pricing by around 15% in 2016 and as much 30%-40% from the peak,” said Nomura’s cruise analyst Harry Curtis.
“The pricing headwinds have been one of the industry challenges that has caused equity multiples to compress 25-40% in the past 12 months.
“Our
