Norwegian Cruise Line Holdings orders cruise ship trio

Norwegian Cruise Line Holdings, operating Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, has entered into an agreement with Fincantieri for the design and construction of three new cruise ships.

The order includes one ship for each of the company’s three brands – Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. One vessel is to be built as a sister ship to Oceania Sonata, one as a sister ship to Seven Seas Prestige, and one as a sister ship to the previously announced Norwegian Cruise Line newbuild order. All three ships will be built at Fincantieri’s shipyards in Italy and delivered between 2036 and 2037.

Fincantieri said that the new ship for Norwegian Cruise Line will have a gross tonnage of approximately 227,000. With more than 5,000 beds, “it will be designed to the highest standards of comfort and technology”. The unit destined for Regent Seven Seas Cruises will have a gross tonnage of 77,000 and about 822 berths, “confirming the brand’s positioning in the ultra-luxury segment”. The ship for Oceania Cruises will have a gross tonnage of 86,000 and a capacity of approximately 1,390 berths. Fincantieri said it was “in line with the brand’s focus on refined experiences centred on the enhancement of destinations”.

"Together with Fincantieri, a trusted partner for decades, we continue to advance a disciplined approach to fleet growth that builds on the strength of our brands, defines the future of cruising and elevates the guest experience for years to come," said NCLH chief executive and president John Chidsey. "This agreement secures access to valuable shipyard capacity through the end of 2037, supporting our long-term growth while maintaining financial discipline and driving sustainable shareholder value."

A statement added, “This new ship order supports the company’s long-term growth pipeline and competitive position with modest initial capital outlays, allowing it to remain focused on strengthening the balance sheet and reducing leverage. The agreement is not expected to have a material impact on near-term leverage or cash flow, as predelivery payment obligations are immaterial until the ship is delivered. Consistent with past practice, the company expects to use Export Credit Agency financing to fund the majority of the vessels’ cost upon delivery.”

Following this agreement, NCLH now has 17 newbuilds on order; with Norwegian Cruise Line totalling eight newbuilds through 2037, five newbuilds for Oceania Cruises to be delivered through 2037, and four newbuilds to be delivered through 2036 for Regent Seven Seas Cruises.