Fire safety fears are delaying the launch of the world's newest luxury cruise liner, report says

• The launch of a luxury cruise ship was delayed by faulty fire panels, the Financial Times reported.
• Sources told the FT that 45 cruise ships globally were affected by the safety fault. 
• That number equals about 15% of the global cruise ship fleet.

The launch of a highly anticipated luxury cruise ship has been delayed by safety concerns, the Financial Times reported on Friday.

The Explora I, run by cruise giant MSC, lost a crucial safety certification over faulty fire-resistant panels, per the newspaper, which cited unnamed sources.

Paroc, a Finnish supplier of the panels to the shipbuilder Fincantieri, informed the Italian company that a second type of panel had also lost its certification, the sources told the FT.

The 813ft Explora 1 is the first for MSC's luxury Explora Journeys division that will operate four ships.

Prices for Explora Journeys range from $2,000 to $20,000 per person for cruises of up to 35 nights. The Explora 1 was due to be launched this spring.

In addition to reportedly delaying the Explora 1's launch, sources told the FT that Paroc had identified 45 other ships carrying the faulty panels. The outlet identified Royal Caribbean International as another customer of Paroc.

According to data compiled by Cruise Market Watch, about 320 cruise ships are operating globally.

That would indicate about 15% of the world's operating cruise ships could be at risk of disruption if the panels needed to be replaced.

Cruise travel this year is expected to be just above 2019 levels, according to the Cruise Line International Agency, indicating a return to pre-pandemic demand. 

According to economic forecaster Oxford Economics, cruise operating capacity is expected to exceed its 2019 level by 16% in 2024. 

MSC and Fincantieri didn't immediately respond to requests for comment from Insider, made outside normal working hours.