Norwegian Announces Order for Next Generation of Ships

by Mia Taylor
Last updated: 12:25 AM ET, Wed January 9, 2019

Two Allura-Class ships designed to meet the demand for upscale culinary- and destination-focused cruise vacations will mark the next phase of Norwegian Cruise Line's growth.

The company announced its order for the next generation of ships for Oceania Cruises today. Part of Norwegian's OceaniaNEXT initiative, the ships will be designed and built by Fincantieri and are slated for delivery in 2022 and 2025.

"This new class of ships will further elevate the already best-in-class guest experience at Oceania Cruises and meaningfully strengthen demand from both new and loyal returning guests, which will ultimately drive further returns for shareholders" Frank Del Rio, president, and chief executive officer of Norwegian Cruise Line Holdings Ltd. said in a statement.

The two, 67,000 gross ton Allura-Class ships will each accommodate about 1,200 guests. The new class of mid-size cruise vessels are being designed to retain all the warmth, popular design elements, and signature amenities of Norwegian's award-winning Marina and Riviera while providing guests an elevated level of comfort and convenience and new luxury offerings.

The ships represent an evolution of the Oceania Cruises experience, said Bob Binder, president, and chief executive officer of Oceania Cruises, while still including an intimate, residential-style; the most spacious standard staterooms afloat, amazing suites, and fine cuisine.

Norwegian's OceaniaNEXT began in late 2018 with a $100 million renovation project for the line's four 684-guest ships, Regatta, Insignia, Sirena, and Nautica. As part of that effort, announced in August, each ship will have new suites and staterooms, as well as new décor in dining venues and other public spaces.

"OceaniaNEXT will be the most extensive and comprehensive suite of product and guest service enhancements that we have ever undertaken," Binder said in August. "Our Regatta-Class ships are like second homes to our loyal guests and travel partners. They don't build ships like these anymore, which is why this re-inspiration project is such an important milestone in our company's 15-year history. We are maintaining the intimate surroundings and personal attention that our guests love, while at the same time setting a new standard of style and elegance for small ship cruising. We have opened a new chapter, innovating in every way as we look to the future and the way our guests want to travel. We can't wait for our 'new' ships to launch."

The contract price for each of the two newly announced vessels is about $658 million per ship. The company has obtained export credit financing to fund 80 percent of the price of each ship, subject to certain Italian government approvals.

With today's announcement, Norwegian Cruise Line Holdings has ten ships on order for delivery through 2027 including seven ships on order for Norwegian Cruise Line, two for Oceania Cruises and one for Regent Seven Seas Cruises.

Norwegian is expected to take delivery of its newest ship, Norwegian Encore, in fall 2019.

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