Royal Caribbean to build second 4,100 passenger cruise ship at Meyer Werft

oasissternRoyal Caribbean Cruises, Ltd. (NYSE, OSE: RCL) has exercised its option to build a second Sunshine-class cruise ship to be delivered in the Spring 2015.  The ship will be built by German shipbuilder Meyer Werft on substantially the same terms as the first Sunshine ship. "This confirms our continued confidence in the success of this new generation of ships and our strong conviction about the Royal Caribbean International brand," said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises, Ltd.

Royal Caribbean has released few hard facts about the ships other than that they will be 158,000 grt, carry just over 4,100 passengers and will "incorporates new and exciting features that take advantage of the best of Royal Caribbean's experience and imagination."  Speculation is that they may incorporate a number of the features of the larger Oasis of the Seas and Allure of the Seas.

When the memorandum of understanding for the first Sunshine Class ship was signed in March last year, RCL said the estimated all-in cost per berth was about euro 170,000. That works out at a total vessel cost of around  $391 million per ship. The all-in cost includes the yard's base contract price plus everything needed to design, operate and build the vessel, from architect fees to supervision costs and all loose inventories from computers to art and bed linens.

At the time the MOU with Meyer Werft was signed, Mr. Fain said he was "excited about the energy efficiency and environmental technologies which have been incorporated" in the Project Sunshine ships. 'Our existing ships are some of the most energy efficient in the world and Project Sunshine takes this one further step," he said.

February 29, 2012

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