Norwegian Cruise Lines Places 3.2 Billion Euro Ship Order at Fincantieri

Illustration of the Breakaway Plus-class courtesy Norwegian Cruise Lines
A file photo rendering of the Breakaway Plus-class. Courtesy Norwegian Cruise Lines

Norwegian Cruise Line Holdings has placed an order for four new next-generation cruise ships at Italian shipbuilder Fincantieri for the NCL brand.

The order includes options for 2 additional ships. The value of each ship is approximately 800 million euros, making the contract worth a minimum of 3.2 billion euros. Delivery is scheduled for 2022, 2023, 2024, and 2025, and stretching to 2027 if the options are taken.

The four 140,000 gross ton ships will each accommodate approximately 3,300 guests, and will be based on NCL’s Breakaway-Plus Class. NCL said priority of the prototype design will be energy efficiency, with the goal of optimizing fuel consumption and reducing the impact on the environment. More guest-facing features will be announced at a later date.

NCL says it has obtained credit financing with favorable terms to fund 80 percent of the contract price of each ship delivered through 2025, subject to certain conditions.

Norwegian Cruise Line Holdings Ltd. (Nasdaq:NCLH) is one of the world’s leading global cruise companies, operating the brands Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The company currently has 24 ships with approximately 46,500 berths, with plans to introduce eight additional ships through 2025, not including the two options with Fincantieri.

The Breakaway-Plus class currently includes the Norwegian Escape, delivered in 2015 by Germany’s Meyer Werft. NCL has another three Breakaway-Plus ships also on order at Meyer Werft, including two 164,000 gt ships that were ordered in July 2014 for a combined 1.6 billion euro. The three others will be delivered 2017, 2018, and 2019.