Last updated: 05:05 PM ET, Thu December 27 2012

Royal Caribbean Orders Third Oasis-Class Vessel

Features & Advice Royal Caribbean International Theresa Norton December 27, 2012

Royal Caribbean Orders Third Oasis-Class Vessel

Royal Caribbean Cruises Ltd. has ordered a third 225,282-ton, 5,400-passenger Oasis-class vessel for delivery in mid-2016 from the STX France shipyard. The agreement includes a one-year option for a fourth Oasis-class vessel for delivery in mid-year 2018, RCCL announced on Dec. 27.     

“The Oasis of the Seas and Allure of the Seas have fundamentally transformed the cruise experience for our guests,” said RCCL Chairman and CEO Richard D. Fain. “These ships have consistently generated outstanding guest satisfaction ratings and continue to produce superior financial results. We are thrilled to be adding a sister to this extraordinary class of vessels at a compelling price. Being back building in France just adds to the pleasure.”

RCCL announced in October that it planned to build a sister ship to Oasis of the Seas and Allure of the Seas.

The newbuild contract includes the transfer of Pullmantur’s Atlantic Star as part of the consideration. Additionally, the contract is subject to satisfaction of financing and other conditions.

Including this contract and existing ship orders, projected capital expenditures are $1.3 billion for 2012, $700 million for 2013, $1.2 billion in 2014, $1.2 billion in 2015 and $1.3 billion for 2016. The company’s annualized capacity growth rate from 2012 to 2016 will remain at a historically low rate of 3.5 percent.

RCCL has also ordered a new generation of ships called Project Sunshine at Meyer Werft in Papenburg, Germany, for delivery of one ship in fall 2014 with an option for a second ship for spring 2015. The 158,000-ton newbuild will carry just over 4,100 guests based on double occupancy.

The largest cruise ships in the world, Oasis of the Seas and Allure of the Seas debuted in November 2009 and November 2010, respectively, and sail weekly from their homeport of Port Everglades in Fort Lauderdale. Built at STX shipyard in Finland, they feature seven neighborhoods, including Central Park, Boardwalk and the Royal Promenade.

Royal Caribbean International is currently undergoing a fleet-wide revitalization program to bring the latest innovations and the highest guest-rated programs from Oasis of the Seas and Allure of the Seas to the rest of the fleet.