2009 Cruise IndustryTerry L. Dale

President & CEO, CLIA

23 Cruise Line Members

16,000 Travel Agencies

� World’s largest travel agency association

� Agents produce 90% of all cruise sales

� Over 15,000 agents CLIA certified

A Look at 2008

Passenger Growth Continues

North AmericaNorth America TotalTotal

13.2 million passengers in 2008 (est.)

Millions

Millions

0

2

4

6

8

10

12

14

’03 ’04 ’05 ’06 ’07 ’08 est.

7.997.997.997.998.878.878.878.87

9.769.769.769.76 10.0810.0810.0810.08 10.2510.2510.2510.25 10.1510.1510.1510.159.539.539.539.53

10.4610.4610.4610.4611.1811.1811.1811.18

12.0112.0112.0112.0112.5612.5612.5612.56

13.2013.2013.2013.20

Average Passenger Growth Rate

1980 – 2007: +7.4%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008

est.

Despite Obstacles…History of Growth

Iranian

Revolution &

Oil Crisis

Sharp Decline in

Manufacturing &

Desert Storm

Begins

September 11th

Dot Com Bust

Operation Iraqi Freedom

Millions

Millions

Fuel Escalation

Credit Crisis

Recession

9 New Ships in 2008

Steady Capacity Growth~105% Occupancy

206,477

220,187225,364

244,271

262,690

100,000

150,000

200,000

250,000

2003 2004 2005 2006 2007 2008

Net Total

CLIA

Beds

275,800

Cruise Industry’s U.S Economic Impact

Cruise Trends

Travel Agent Survey* 900 Agents Participated* CLIA Survey Conducted January 2009

� Cruises rank the highest in consumer interest,perceived value and ease of sale

� Caribbean (including Eastern Mexico) expected to receive most bookings in 2009

� “Hot” cruise destinations: Alaska, Africa, South America, China/Japan

� Half of all agents surveyed expect 2009 to be a “very good” or “good year” (compared to ’08)

� 36% very optimistic looking ahead over next 3 years

� Value is the top reason consumers will be motivated to book a cruise during Wave Season 2009

Cruise Line Trends Survey* Survey conducted December 2008

�Meetings & Incentives, affinity travel and groupsincreasing

� Food and wine - #1 for theme cruises

� Top international passenger source region: Europe

� Agents collectively represent 85-90% of business booked

� Pax growth areas: Families/multi-generational travel, Baby Boomers, first-time cruisers

� Sightseeing and historical/cultural activities -most popular shore excursions

� Shorter booking windows

� “Hot” destinations for 2009: The Mediterranean, Europe and South America

What’s New for 2009

2009 Industry Developments

� Value packages and promotions

� Fuel supplements dropped

� 14 new ships join the fleet

– Continued evolution of shipboard facilities

� Diversification and global expansion

� New exotic, remote ports

� Continued growth of domestic home ports

2009 - 14 New ShipsNet Bed Day Increase of 4.8%

� AMA’s ms Amadolce, April, 148 pax

� AMA ms Amalrya, N/A, 148 pax

� American Cruise Lines Independence, August, 104 pax

� Carnival Dream, September, 3,646 pax

� Celebrity Equinox, Summer, 2,850 pax

� Costa Luminosa, June, 2,260 pax

� Costa Pacifica, June, 3,000 pax

� MSC Splendida, July, 3,300 pax

� Pearl Seas Pearl Mist, July, 210 pax

� RCI’s Oasis of the Seas, Autumn, 5,400 pax

� Seabourn Odyssey, June, 450 pax

� Silversea’s Silver Spirit, November, 540 pax

� Uniworld River Beatrice, March, 160 pax

� Uniworld River Tosca, April, 82 pax

CLIA 2009 Passenger Forecast

� 13.5 million passengers (+300,000)

– 10.4 million passengers – North America

– 3.1 million passengers – International

21 New Ships on Order: 2010 - 2012

204

211

215

198

200

202

204

206

208

210

212

214

216

2010 2011 2012

+10+10

NewNew

+7+7

NewNew

+4+4

NewNew

SoSo

FarFar

Total in Combined CLIA Fleet (Net)

Total in Combined CLIA Fleet (Net)

Nearly $14 billion investment in new ship building

2009 Calendar of Events

� Cruise Shipping Miami: March 16-19

� cruise3sixty: April 2-6 in Fort Lauderdale

� Congressional Cruise Caucus: June 15-18 in Washington, DC

� CLIA’s Economic Impact Study: August

� World’s Largest Cruise Night: Oct 15

Partnership Opportunities

� Security Legislation

� California Environmental Legislation

� Guest Care Training

2009 Cruise IndustryTerry L. Dale

President & CEO, CLIA