To answer the question, in a word, posed on the cover: No! While the cruise market has undoubtedly experienced several painful, and often costly, growing pains of late, it is abundantly clear that the dynamics of the market have changed from when the “boom” began in the early to mid 1990s. While a record amount of tonnage has and continues to enter the workforce and operators are having a difficult time filling them, the cruise industry is truly in its toddler stage, with plenty of growth opportunities domestically and particularly abroad. Granted, industry watchers and/or investors are aghast at the low valuations of cruise companies, as well as the general financial direction, given Carnival’s and Royal Caribbean’s profit warnings of last month.