The company is close to defining new ships and is considering newbuilds, acquisitions, and charters to expand its capacity
By Krooze Editorial Team
Lindblad Expeditions is close to finalizing its plans to expand its fleet. The information was disclosed by the company’s CEO, Natalya Leahy, during the presentation of its third-quarter financial results.
The executive did not reveal how many ships will be added or which approach will be adopted. The expansion may take place through the construction of new vessels, the acquisition of existing ships, or new charter agreements.
“We are not yet ready to share the details, but we are very close to finalizing our plans. I just ask for a little more patience,” says Leahy.
Charters support growth
While the new projects have not been announced, Lindblad Expeditions will continue using chartered vessels to expand its operations. According to Leahy, the company’s capacity posted mid-single-digit growth this year, driven by optimized fleet deployment and a significant expansion of charters.
The expectation is to maintain a similar pace in the coming periods. Growing programs include operations in the Amazon and Alaska.
In the summer of 2027, the Greg Mortimer will take over the company’s Alaska program, replacing two smaller vessels. The change will make it possible to concentrate operations on a ship with greater capacity.
Company considers different alternatives
The CFO of Lindblad Expeditions, Rick Goldberg, said the company’s financial position allows it to consider different paths for expansion.
The possibilities include building new ships, acquisitions, and charters. The company is also considering investments in new operations and land-based properties that complement its expedition itineraries.
Despite being close to a decision, the company has not yet said when it will officially unveil the new projects.
Expedition market still has room to grow
For Natalya Leahy, the expedition cruise segment still has vast potential for development.
Although the category’s global capacity has more than doubled over the past decade, it still represents less than 1% of the cruise market’s total capacity.
Currently, the company’s eight affiliated brands welcome approximately 60,000 guests per year. According to the executive, this audience represents less than 0.1% of global travelers who can afford this type of trip.
“This gives us enormous room for growth,” Leahy highlights.
The fleet expansion should allow Lindblad Expeditions to increase its presence in remote destinations and keep pace with growing demand for travel focused on nature, science, and exploration.
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