Crystal orders three new ocean ships, first in 2028

Published on Oct 17, 2025, 11:09 am CDT

3 min read

Key points

Crystal confirms three-ship program with Fincantieri
Lead vessel scheduled to deliver in May 2028
Ships sized under 700 guests, about 61,800 GT
Financing finalized for first two vessels
Third ship option exercised, tentatively 2032

Impact

Ships: Three-ship plan restores luxury capacity with sub-700-guest vessels.
Bookings: Inaugural 2028 season sales expected next spring; long booking curves likely.
Trade: Advisors can position smaller-ship yields and suite mix for premium upsell.
Outlook: Luxury orderbook broadens through 2032, supporting steady fare strength.

Crystal confirmed a three-ship ocean program with Fincantieri, anchoring the brand's next growth phase with the first new build in 25 years. The lead vessel is scheduled for delivery in May 2028, with steel cutting targeted for May 2026 and keel laying in December 2026. Crystal previously finalized export-credit financing for the first two ships and later firmed an option for a third, reflecting sustained demand for smaller, higher-yield luxury capacity.

Crystal and Fincantieri, what is set

Under A&K Travel Group ownership, Crystal is rebuilding around sub-700-guest ships of about 61,800 gross tons, a footprint that favors suite density, high crew ratios, and per-diem strength. The company says the inaugural 2028 season will go on sale next spring, with additional suite categories and the ship's name to follow. The partner yard is Fincantieri, Italy's leading cruise builder, which signed the initial agreement in June 2024, followed by Crystal exercising an option for a third ship that is tentatively slated for 2032.

Latest developments

Crystal's October 13, 2025 update put hard dates on the first hull, confirming a May 2026 steel cut and a December 2026 keel laying at Fincantieri, with delivery in May 2028. The July 1, 2025 financing announcement detailed a SACE-backed facility for the first two ships. Crystal's November 8, 2024 release then formalized the third unit, aligning the program to a three-ship arc through 2032.

Analysis

For travelers, the takeaway is simple. Luxury supply is rising, but not through megaships. Crystal's design brief keeps guest counts below 700, which supports more space per traveler, a high proportion of balcony suites, and quieter demand shocks compared with mass-market tonnage. That mix typically drives longer booking curves and resilient yields, especially on longer, itinerary-led sailings.

For advisors and revenue managers, the dates matter. With steel cut in May 2026, intensive naming, interior reveals, and itinerary drops usually follow in cadence. Expect waitlist conversion and early-booking promotions to start next spring, with top suites and extended segments selling first. On pricing, a measured luxury orderbook across the segment favors steady fare integrity into 2028, rather than discount-led fills, as brands compete on experience, not scale.

Final thoughts

Crystal's three-ship plan, with the first delivery in 2028, signals a deliberate luxury-capacity rebuild. Smaller ships, longer booking curves, and a Fincantieri partnership position the brand to compete at the top end without chasing volume. Travelers who prize space and service should track the inaugural season as Crystal plans three new ocean ships with first delivery in 2028.