The plan includes next generation vessels for Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises to be built by Fincantieri, along with infrastructure enhancements for Great Stirrup Cay, all while continuing its disciplined multi-year de-leveraging plan.
Norwegian Cruise Line Holdings Ltd. has unveiled the most comprehensive new build order in its history—a total of eight state-of-the-art vessels, representing nearly 25,000 additional berths, with new classes of ships for each of its three award-winning brands and the construction of a multi-ship pier at Great Stirrup Cay, the Company’s private island destination in the Bahamas and its top-rated Caribbean port of call. This unprecedented decade-long strategy enhances its product offering, guest experiences, and operational infrastructure, supporting the Company’s sustained leadership in delivering innovative cruise vacations.
The new ship orders across all three brands are scheduled for delivery over a ten-year period, between 2026 and 2036. Following the delivery of four Prima-Plus class ships from 2025 through 2028, Norwegian Cruise Line is expected to take delivery of four approximately 200,000-gross-ton ships, each with a capacity of nearly 5,000 guests, in 2030, 2032, 2034 and 2036, which are subject to financing. Building on the success of its Allura Class ships, the last one being delivered in 2025, Oceania Cruises is scheduled to take delivery of two 86,000-gross-ton ships, each with a capacity of 1,400 guests in 2027 and 2029. Lastly, following the award-winning Explorer Class ships, Regent Seven Seas Cruises is scheduled to take delivery of two 77,000-gross-ton ships, each with a capacity of 850 guests, in 2026 and 2029.
“This strategic new-ship order across all three of our award-winning brands provides for the steady introduction of cutting-edge vessels into our fleet and solidifies our long-term growth. It also allows us to significantly leverage our operating scale, strengthen our commitment to innovation and enhance our ability to offer our guests new products and experiences, all while providing opportunities to enhance the efficiency of our fleet,” said Harry Sommer, President and Chief Executive Officer of Norwegian Cruise Line Holdings Ltd.
In partnership with the Italian shipbuilder Fincantieri, each brand will design their new ship class and focus on creating the largest, most efficient and innovative vessels of their respective fleet. Aligning with the company’s sustainability efforts, the new ship designs are expected to advance the journey towards decarbonization.
Mark A. Kempa, Chief Financial Officer of Norwegian Cruise Line Holdings, commented, “we expect that these strategic investments will secure our growth trajectory, significantly boost our earnings profile, and enhance shareholder value well into the future. With a favorable payment structure that includes pre-delivery financing and modest initial installment payments for these ship orders, we still anticipate strong Net Leverage reduction of 1.5 turns by the end of 2024, relative to 2023, and expect the Company to continue reducing Net Leverage each year for the foreseeable future.”
