Royal Caribbean Group, a titan in the global cruise industry, has solidified its long-term fleet expansion strategy by signing a comprehensive framework agreement with Meyer Turku, the esteemed Finnish shipyard. This pivotal deal guarantees shipbuilding slots for the cruise giant through 2036, ensuring a consistent pipeline of innovative vessels and reinforcing a decades-long collaboration.
A Decade-Long Commitment to Innovation
The extensive agreement underscores a mutual commitment to advancing cruise ship design and construction. Meyer Turku, renowned for its expertise in building some of the world’s largest and most sophisticated cruise ships, will continue to be a primary partner for Royal Caribbean Group. This partnership, which has already seen the delivery of numerous vessels, including the groundbreaking Icon Class series, is set to span well into the next decade. The agreement is seen as a significant boost for Finland’s maritime industry, securing jobs and fostering technological advancements.
Jason Liberty, President and CEO of Royal Caribbean Group, expressed enthusiasm for the extended collaboration, stating, “As we continue to reimagine the future of vacations, we are excited to continue collaborating with Meyer Turku to grow the Icon Class – a first-of-its-kind series that delivers exceptional vacation experiences – and to position us to usher in a new era of innovation that will disrupt the vacation sector through 2036.” This forward-looking vision highlights the group’s dedication to sustained growth and passenger satisfaction.
Expanding the Icon Class Fleet
Central to the new framework is a confirmed order for Icon 5, the fifth ship in the highly successful Icon Class, scheduled for delivery in 2028. This order complements the previously announced options for Icon 6, and the new agreement adds an option for Icon 7, providing significant flexibility for future fleet development. The Icon Class ships, which have set new benchmarks in size, design, and onboard offerings, are a cornerstone of Royal Caribbean’s strategy.
The current and upcoming Icon Class lineup includes:
* Icon of the Seas: Entered service in January 2024.
* Star of the Seas: Entered service in August 2025.
* Legend of the Seas: Scheduled for delivery in Summer 2026.
* Icon 4: Scheduled for delivery in 2027.
* Icon 5: Confirmed for delivery in 2028.
This robust build schedule ensures Royal Caribbean can continue to offer cutting-edge vacation experiences, particularly in popular destinations like the Caribbean, and explore new frontiers in cruise ship entertainment.
Economic Impact and Strategic Vision
The long-term commitment from Royal Caribbean Group is a significant economic boon for Finland. Meyer Turku CEO Casimir Lindholm highlighted the importance of the agreement, stating, “With the framework agreement now signed, we announce our common plan for the next decade in cooperation with Royal Caribbean Group and other key partners to build more Icon Class ships and drive the future of shipbuilding over the next decade.” Each large cruise ship construction project at Meyer Turku represents one of Finland’s largest industrial undertakings, employing thousands and generating substantial economic value.
Beyond shipbuilding, Royal Caribbean Group continues to expand its broader vacation offerings. The company aims to grow its portfolio of land-based destinations to seven by 2028, complementing its ever-growing fleet. Furthermore, the group recently commenced a registered public offering of senior unsecured notes, aimed at financing upcoming deliveries, such as Celebrity Xcel, and for debt redemption, demonstrating a strategic approach to capital management amidst ambitious growth plans.
Shaping the Future of Cruising
The extended partnership between Royal Caribbean Group and Meyer Turku not only secures the operational future of the shipyard but also signals Royal Caribbean’s intent to remain at the forefront of cruise innovation. The company is preparing for a new, game-changing class of ship beyond the Icon series, indicating a relentless pursuit of redefining the vacation sector. This news arrives as a significant development in the cruise industry, promising continued advancements in ship technology, passenger experience, and sustainable practices for years to come.