May 4, 2005
NCL places further cruise ship order at Meyer Werft
Within weeks of the announcement of cancellation of a plan to build a new ship at Aker Yards, NCL Corporation ("NCL") has announced a further new ship order with Meyer Werft, in Germany, for delivery in October 2007 to its Norwegian Cruise Line brand.
The vessel, currently referred to as hull S.670, will have a capacity of 2,384 lower berths and be a sister to Norwegian Jewel, which is scheduled for delivery in August of this year.
Total contract price, including owner's supply, is Euros 391 million (approximately $510 million at today's exchange rate).
The new order follows an order announced in December last year with the same yard for an identical ship to be delivered in February 2007, and becomes the fifth ship now in the pipeline for introduction to the NCL fleet during the next 28 months. This new order will be the 10th big new ship to join the NCL fleet since the fleet modernization began in late 1999. When this tenth ship is delivered in 2007, over 75 percent of NCL's inventory of beds will be on ships less than eight years old.
Commenting on the order, Tan Sri K T Lim, chairman of parent Star Cruises said: "This order builds upon the tremendous commercial success of our Norwegian Star and Norwegian Dawn, and continues our strong relationship with the Meyer shipyard. Our investment in the NCL fleet modernization is now close to $4 billion since 2000, which demonstrates the commitment and confidence we have in our strategy."
Colin Veitch, NCL's President and CEO, said: "We are as pleased as can be to announce Number 10. The modernization of NCL's fleet has now gained full momentum and we are well on the way to our goal of having the youngest fleet in the industry. Following the disappointing decision recently to terminate discussions on another ship with another yard, we are very pleased now to have secured our desired second ship for 2007."