Royal Caribbean Orders Fourth Oasis-Class Ship

Royal Caribbean has agreed with STX France to move forward on the order of a fourth Oasis-class ship for delivery in 2018.

The order is subject to documentation and satisfaction of financing and other customary conditions. Projected capital expenditures for 2014, 2015, 2016, 2017 and 2018 are $1.4 billion, $1.4 billion, $2.2 billion, $0.3 billion and $1.5 billion, respectively, taking into account this order and existing ship orders.

Oasis III will be approximately 20% more energy efficient than Oasis of the Seas and Allure of the Seas, which already are among the most energy efficient cruise ships in the world. The fourth Oasis-class ship will further build on that efficiency.

“We are very excited that Royal Caribbean has agreed to move forward with a fourth Oasis-class ship demonstrating their confidence in STX France to construct the most superior cruise ships in the world,” said Laurent Castaing, Chief Executive Officer, STX France. “We look forward to advancing the efficiencies of our ship building process to produce the most innovative ships that vacationers have come to expect from Royal Caribbean.”

Royal Caribbean Cruises Ltd.’s Chairman and Chief Executive Officer Richard D. Fain and President and Chief Operating Officer Adam Goldstein, along with STX France Chief Executive Officer Laurent Castaing, confirmed the planned ship
order at the keel-laying ceremony for the third Oasis-class ship at the STX shipyard in Saint-Nazaire, France.

The keel laying of the third Oasis-class ship marks an important milestone in the development of the ship, as it signifies the beginning of its physical construction. During the ceremony, a 1,000-ton block measuring 32-ft by 154-ft (10 x 47 meters) was lifted by crane into the building dock. Newly minted coins were placed under the keel and will stay in place there until the end of the ship’s construction. Once the ship is near to completion, the coins are retrieved and presented to the ship’s captain and crew to be placed onboard the ship. According to maritime tradition, the coins are said to bring luck to the ship during its construction process and then to its captain and crew when she is sailing out at sea. Still to be named, the third Oasis-class ship will be delivered in spring 2016.