Wärtsilä Investor Relations organised a customer site visit for investors and analysts to the MSC World Europa in Barcelona, Spain, on 20 March 2026. Wärtsilä and MSC Cruises share a long-standing partnership built on innovation, sustainability, and operational excellence. The visit provided an in‑depth look at MSC Cruises’ growth outlook, the company’s commitment to responsible cruising, and Wärtsilä’s continued role in supporting the evolution of MSC’s fleet. MSC World Europa entered service in 2022 as MSC’s first LNG‑powered vessel.
The presentation materials from the event can be found here.
Strong long-term outlook for the global cruise market
Michele Francioni, Chief Energy Transition Officer at MSC, opened the day with an overview of market trends and MSC’s growth expectations. According to CLIA forecasts, passenger volumes for the global Cruise industry are set to rise to 42 million by 2028, up from 31.7 million in 2023. Fleet capacity continues to expand as well, as the CLIA-member cruise line fleet exceeded 300 ocean-going vessels in 2024, growing to 310 in 2025. MSC Cruises, one of the world’s largest and fastest-growing cruise lines, demonstrated particularly strong momentum. In 2024 the company carried 4.6 million guests, more than doubling 2019 levels, and passenger numbers are forecast to pass six million by 2027 as new ships enter service.
A key theme throughout the visit was MSC’s commitment to responsible growth and long-term climate objectives. The company is pursuing a transparent and science-based pathway to net zero by 2050. MSC expects its fleet emissions to peak in 2030, after which absolute emissions will begin declining as the use of renewable fuels scales up. The decarbonisation plan is built around three pillars: advanced ship and engine technology, improved operational efficiency, and the progressive shift to renewable fuels.
MSC’s long‑term fleet investment programme
MSC outlined a significant fleet expansion for the coming decade. The company currently operates 23 ships and plans to add 10 new vessels by 2033, bringing the total to 33. MSC’s luxury brand, Explora Journeys, is also growing rapidly, with four additional ships to be delivered by 2028, expanding the Explora fleet to six vessels.
This multi‑year investment strengthens MSC’s presence across Europe, North America, South America, the Gulf and Asia. Newbuilds are being designed for future fuel transitions, equipped with dual‑fuel LNG engines and prepared to operate on bio‑LNG, synthetic LNG and renewable diesel.
Wärtsilä remains tightly integrated into MSC’s long‑term plans. Many upcoming MSC and Explora vessels will feature Wärtsilä’s dual‑fuel engines, LNGPac systems, fuel‑flexibility solutions, and the next‑generation 46TS engines, offering significantly reduced methane slip.
Recent vessel generations already outperform regulatory energy‑efficiency baselines, and real‑world data confirms lower‑than‑expected methane slip from LNG engines. MSC also continues near‑term decarbonisation steps, including using 6,900 tonnes of bio‑LNG on MSC World Europa in 2025 and a joint pilot with Wärtsilä to test 100% renewable diesel on a single engine. These initiatives underline the strength of the companies’ 25‑year partnership.
Wärtsilä’s technologies and partnership contributions
After MSC’s presentation, Maikel Arts, Head of Cruise in Wärtsilä presented Wärtsilä’s role and partnership with MSC. Wärtsilä’s role on board MSC’s newest vessels formed an important part of the site visit programme. MSC World Europa and its sister ships are equipped with a comprehensive Wärtsilä technology package, including 46DF dual-fuel LNG engines, SCR catalyst systems, LNGPac fuel storage and handling systems, gas valve units, tunnel thrusters and the main propellers. Beyond equipment deliveries, Wärtsilä and MSC work closely together in technology development.
The EU-funded GreenRay project aims to significantly reduce methane slip in LNG engines, and Wärtsilä’s latest 46TS NextDF engines deliver more than 90 percent lower methane slip along with notable efficiency improvements. The next MSC World Class vessel, MSC World Asia, will be the first to feature this new engine generation. Explora Journeys’ later ships will also include hybrid fuel-cell integrations in cooperation with Wärtsilä.
Aligned strategic objectives and long‑term lifecycle cooperation
In a broader strategic sense, MSC outlined the objectives guiding its fleet operations: safe, reliable and efficient performance; compliance with both current and future regulations; and predictable lifecycle costs. Wärtsilä’s lifecycle approach is well aligned with these needs. With the marine industry’s widest global service network, extensive spare parts logistics, field services, upgrades, maintenance, remote support and data-driven optimisation, Wärtsilä is able to support MSC’s fleet throughout its lifecycle. This combination of global coverage and technical expertise forms a strong foundation for continued collaboration.
Conclusion: Wärtsilä and MSC are well positioned to create long-term value for stakeholders
The presentations concluded with discussions and questions from investors, covering topics such as market growth expectations, the drivers of MSC’s decarbonisation progress, and the role Wärtsilä plays in supporting reliable operations. Participants also asked about the development of renewable fuels and the practical challenges related to emissions reductions, including methane slip. MSC and Wärtsilä emphasised that improvements in fuel flexibility, engine efficiency and operational optimisation will continue to play a central role in the years ahead.
The investor visit to MSC World Europa offered a comprehensive view of one of the world’s most dynamic cruise operators and highlighted Wärtsilä’s central contribution to the fleet’s efficiency, sustainability and long-term competitiveness. With a strong market outlook, a clearly defined decarbonisation pathway and deep technological cooperation, Wärtsilä and MSC are well positioned to create long-term value for customers, investors and the global maritime industry.
