Viking Doubles Down on Adventure: Two New Expedition Ships, Strong 2025 Results and a Pause on Nile Cruises

Viking is accelerating its push into expedition cruising, confirming an order for two new expedition ships to be delivered in 2030 and 2031, effectively doubling its current expedition fleet. The new vessels will join Viking Octantis and Viking Polaris, both delivered around three‑and‑a‑half years ago, and will be built by Fincantieri as sister ships tailored for polar and remote‑region exploration.

New Expedition Ships for 2030 and 2031

Viking’s latest shipbuilding commitment covers two additional expedition vessels, scheduled to enter service in 2030 and 2031. Like Viking Octantis and Viking Polaris, the new ships will be purpose‑built for polar and far‑flung itineraries, supporting the brand’s strategy to grow in the high‑end expedition market.

Key points:

• Both ships will be sister ships to Octantis and Polaris, with similar technical platforms optimised for ice‑strengthened, small‑ship exploration.
• Construction will take place at Fincantieri’s Palermo shipyard in Italy, underlining Viking’s long‑standing partnership with the Italian group.​
• Once delivered, Viking’s expedition fleet will grow from two to four vessels, significantly expanding capacity in Antarctica, the Arctic and other remote regions.

The company also confirmed it has taken an option for two additional ocean ships scheduled for delivery in 2034, following the same design philosophy as its existing 930–998‑guest ocean fleet.

Viking’s Financial Performance: 21.9% Revenue Growth

The expansion news came alongside Viking’s latest full‑year 2025 financial results, which show the brand hitting new records.

For the year ended 31 December 2025, Viking reported:​

• Total revenue: US$6.5 billion – up 21.9% versus 2024
• Adjusted Gross Margin: US$4.3 billion – up 22.6% year‑on‑year
• Adjusted EBITDA: US$1.9 billion – up 38.8% on the prior year

Chair and CEO Torstein Hagen highlighted that Viking has now grown its river, ocean and expedition fleet to more than 100 vessels, while continuing to expand its destination‑focused offerings across all seven continents. He also noted that the company has sold around 86% of its capacity passenger cruise days for the current season, underscoring strong forward demand and high load factors.

According to Hagen, this performance reflects “consistent execution”, strong loyalty from Viking’s core guest base, and the appeal of its premium, destination‑driven product.

Strategic Growth Across River, Ocean and Expedition

The two new expedition ships and additional ocean options sit on top of an already ambitious pipeline. Viking currently has multiple ocean ships and at least 10 new river vessels scheduled for delivery across the next few years, with plans to add dozens more river and ocean ships by the early 2030s.

This growth trajectory aims to:

• Deepen Viking’s presence in expedition cruising, where demand for small‑ship, science‑minded itineraries continues to climb.
• Strengthen its position in the upper‑premium ocean segment, with ships designed around longer itineraries and intensive port calls.
• Maintain leadership on the rivers, where Viking already operates the world’s largest river cruise fleet and continues to add Longships at pace.​

With more than 100 ships already in operation and up to 45 additional vessels planned across river, ocean and expedition, Viking is clearly betting on sustained demand from its core demographic of culturally curious, typically 55‑plus travellers.

Nile Voyages Paused Amid Middle East Conflict

However, it is not all expansion. In the same period, Viking confirmed it has cancelled its Nile River cruises through the end of March, citing escalating conflict involving Iran and broader security concerns across parts of the Middle East and North Africa.

• The line has paused all Nile itineraries through March 31, and is arranging for guests currently in Egypt to return home safely.
• Viking emphasised that guest safety is the top priority and that it will continue to monitor the situation before resuming operations.
• Other operators, including Avalon Waterways and Tauck, have also suspended Nile programmes or Egypt land tours for the month, while AmaWaterways has indicated it will continue sailing in the region for now.

Viking notes that its Nile capacity represents only a small percentage of its overall portfolio, but the decision illustrates how geopolitical risk continues to influence deployment, even as the company invests heavily in growth elsewhere.

What This Means for Cruisers

For travellers, Viking’s announcement points in two directions at once:

• On one hand, the brand is committing long‑term to expedition cruising, promising more capacity and more choice in polar and remote itineraries from 2030 onwards.
• On the other, it is prepared to pull back quickly from regions where safety and stability are in question, as shown by the temporary halt to Nile operations.

If you’re a Viking guest or fan of small‑ship exploration, the next decade looks set to bring new ships, new routes and deeper destination focus – with the caveat that river itineraries in sensitive regions like the Nile will remain closely tied to world events.

Which interests you more right now: Viking’s new expedition ships for 2030+, or the immediate implications of the Nile cruise cancellations for 2026 travel plans?