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Monday, October 25, 2010

NCL Orders Two New Ships for 2013 and 2014

Following the launch of Norwegian Epic, Norwegian Cruise Line announced today that it has reached an agreement with Meyer Werft shipyard to build two new next generation Freestyle Cruising ships for delivery in spring 2013 and spring 2014.

Each of the 143,500 gross ton vessels will have approximately 4,000 passenger berths and a rich cabin mix.

Norwegian has decided not to build sister ships to the Epic after cancelling plans to build two more ships in the F3 (Epic) class. Instead, the company has placed a newbuilding order with Meyer Werft in Germany for two ships of a slightly smaller size.

Additional details about each ship's new and exciting features will be released as construction progresses. The contract price for the two vessels is approximately $1.6 billion. Norwegian has committed financing in place from a syndicate of banks for export credit financing in connection with this project.

"We have always been focused on a disciplined approach to capacity growth. Our decision to add two new ships reflects the significant progress we have made in improving our operating performance and repositioning the Company over the last several years, as well as the strong market demand we are seeing for Norwegian Epic and our other ships," said Kevin Sheehan, Norwegian Cruise Line's chief executive officer.

"Building on the incredible success and popularity of Norwegian Epic, we are taking the best of what our newest ship has to offer, as well as drawing on our legacy of innovation in the cruise industry, in creating a new class of Freestyle Cruising vessel that is sure to provide our guests with the unparalleled freedom and flexibility they have come to expect on a Norwegian cruise."

"We are bringing this spirit of innovation to these two new build ships, as Norwegian continues to offer our guests new and exciting ways to enjoy their Freestyle Cruising vacation," said Sheehan.

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