Norwegian Cruise Line Holdings Ltd. (together with NCL Corporation Ltd.) (together with NCL Corporation Ltd., "Norwegian Cruise Line Holdings", "Norwegian", "NCLH" or the "Company") today revealed the order for new construction most comprehensive in its history - a total of eight state-of-the-art ships, representing almost 25,000 spaces of additional capacity, with new ship classes for each of its three award-winning brands - and the construction of a multi-ship dock at Great Stirrup Cay, the Company's private island in the Bahamas and its highest-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.
Delivery of the new ships of the three brands is planned for a period of ten years, between 2026 and 2036. Following the delivery of four Prima-Plus class ships between 2025 and 2028, Norwegian Cruise Line is expected to receive four ships of approximately 200,000 gross tons, each with capacity for almost 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 of which will be delivered in 2025, Oceania Cruises plans to deliver two 86,000 gross ton ships, each accommodating 1,450 guests, in 2027 and 2029. Finally, following the award-winning Explorer class, Regent Seven Seas Cruises plans to deliver two 77,000 gross ton ships, each with a capacity of 850 guests, in 2026 and 2029. Details regarding the ships will be announced in the coming months. services, rooms, catering, recreation, efficiency, sustainability and other characteristics of the ships.
"This strategic order for new ships across our three award-winning brands marks the continued introduction of next-generation ships into our fleet and cements our long-term growth. It also allows us to significantly leverage our operational scale, strengthen our commitment to innovation and improve our ability to offer our guests new products and experiences, while providing opportunities to improve the efficiency of our fleet," said Harry Sommer, president and CEO of Norwegian Cruise Line Holdings Ltd.
"We are excited about the addition of a new dock on Great Stirrup Cay to support our increased capacity in the Caribbean and multiple ships calling on the island, enhancing our guest experience and providing seamless, reliable access to our private island. throughout
the year."
In collaboration with Italian shipbuilder Fincantieri, each brand will design their new class of ship and focus on creating the largest, most efficient and innovative ships in their respective fleets.
In line with the company's sustainability efforts, the new ship designs are expected to advance the path towards decarbonization.
"Over the years, our long-standing relationship with Norwegian Cruise Line Holdings has been built on a shared vision for the future of ocean travel, constantly setting new standards for innovation, luxury, sustainability and guest satisfaction in the industry. of cruises," said Pierroberto Folgiero, CEO and General Director of Fincantieri. “We are delighted to work on these new build orders and deliver iconic cruise ships that will embody our shared legacy of excellence for generations to come.”
The Company has obtained export credit financing on favorable terms to finance 80% of the contract price of each of the two ships from Oceania Cruises and Regent Seven Seas Cruises, subject to certain conditions. Ship orders for Norwegian Cruise Line remain subject to financing, currently underway.
Mark A. Kempa, Chief Financial Officer of Norwegian Cruise Line Holdings, commented: "We expect these strategic investments to secure our growth trajectory, significantly boost our earnings profile and enhance shareholder value in the future. With a favorable payment structure which includes pre-delivery financing and modest upfront installment payments for these ship orders, we still forecast a strong net debt reduction of 1.5 turns at the end of 2024, relative to 2023, and we expect the company to continue reducing net debt each year for the foreseeable future."