New Delhi, Nov 1 (PTI) Cordelia Cruises aims to make India one of the world's top five cruise markets by 2032 as it plans to expand its fleet and tap the growing potential of domestic cruise tourism, its President and CEO Jurgen Bailom said.
The company currently operates two vessels, Cordelia Empress and Cordelia Sky, and its third ship, Cordelia Sun, is likely to join the fleet earlier than scheduled, Bailom said at a press conference aboard Cordelia Sky off the Mumbai coast.
Cordelia Sky is the company's latest addition to its fleet and has commenced commercial operations from Mumbai.
"We have three ships: two in operation, which are Empress and Sky, and Cordelia Sun is coming, most probably earlier than expected. With that, we will have three ships," Bailom said.
He said the company was also planning further fleet expansion but did not disclose specific numbers as it is now a listed entity and subject to market regulations.
"We have further options for several more. However, as you know, we are now a listed company. I cannot make forward-looking statements because of Sebi regulations. We are not allowed to do that," he said.
"The expansion increases Cordelia Cruises' deployed capacity and broadens its domestic and international itinerary network, with weekend sailings, Goa and Lakshadweep cruises, and international itineraries to the Maldives and Sri Lanka now operating across Mumbai and Kochi," Cordelia Cruises operator Waterways Leisure Tourism Limited said in a regulatory filing.
The latest 2025 global cruise passenger data from Cruise Lines International Association (CLIA), released in April 2026, placed the US, Germany, the UK and Ireland, Australia, and Canada among the world's top five cruise source markets.
The US remained the dominant market with 20.6 million passengers, followed by Germany (2.8 million), the UK and Ireland (2.5 million), Australia (1.45 million) and Canada (1.27 million).
India does not feature among the top 10 source markets in the published CLIA rankings, indicating the headroom for growth in the domestic market.
Highlighting the potential of the Indian cruise tourism market, Bailom said around 2 lakh Indians take international cruises annually before Cordelia Cruises entered the domestic market, and the company had already carried one million passengers.
"Today, approximately 13-14 per cent (of Indians) can easily afford to go cruising in India. That's 200 million people -- that's five times the capacity of all the ships in the world," he said.
India has a coastline of around 12,000 km, offering significant opportunities for cruise tourism, he added.
"Do you remember China before COVID? They were the third or fourth-largest cruise market. Our goal is, by 2032, to be in the top five largest cruise markets in the world," Bailom said.
He said Cordelia Cruises was also expanding its destination offerings, including developing private destinations. It currently visits three locations in Lakshadweep, compared to one earlier.
On the impact of geopolitical tensions in West Asia and the Russia-Ukraine conflict, Bailom said higher fuel prices had increased operating costs, although the company remained profitable.
"Our fuel price went up by 100 per cent. However, we are able to manage. We are still profitable. If I think of my last earnings call -- if the fuel price had been the same as last year, we would have made Rs 40 crore more profit," he said.
He said cruise operators have greater flexibility than airlines in managing higher fuel costs, as they could alter itineraries, reduce speeds and improve operational efficiency.
Bailom also highlighted the growing contribution of corporate travel, meetings, incentives, conferences and exhibitions (MICE), and weddings to the company's business.
The company is also looking to attract international tourists through longer itineraries.
(This story has not been edited by THE WEEK and is auto-generated from PTI)