Meyer Turku shipyard in Finland has signed a significant long-term agreement with Royal Caribbean Group. This deal extends cruise ship construction through 2036. It includes a firm order for a fifth Icon class mega cruise ship and an option for a seventh. This partnership highlights the ongoing demand for large cruise vessels and strengthens Finland's role in the global shipbuilding industry.
Key Takeaways
- Meyer Turku will build Royal Caribbean ships until 2036.
- A fifth Icon class cruise ship is now a firm order.
- Royal Caribbean has an option for a seventh Icon class vessel.
- Each Icon class ship adds over $1 billion to the Finnish economy.
- The agreement paves the way for a new 'Discovery' class of ships.
Expanded Partnership and New Orders
The new framework agreement solidifies a long-standing relationship between Meyer Turku and Royal Caribbean. Since the mid-1990s, the Finnish yard has delivered 25 ships to the cruise giant. This new deal ensures continued work for the shipyard for more than a decade.
Under the terms of the agreement, Royal Caribbean has exercised an option for a fifth Icon class cruise ship. This option was first taken in the summer of 2024. Additionally, the agreement includes a new option for a seventh ship of the same class. This demonstrates Royal Caribbean's commitment to expanding its fleet with these large vessels.
Petteri Orpo, Prime Minister of Finland, stated, "This new framework agreement is excellent news for Finland."
Economic Impact
- Each Icon class cruise ship contributes over $1 billion to the Finnish economy.
- These ships are the largest in the world, measuring approximately 250,000 gross tons.
- They can accommodate up to 7,600 passengers.
Current Icon Class Fleet Development
The Icon class series is a key part of Royal Caribbean's fleet expansion. The first ship, Icon of the Seas, began service in January 2024. The second vessel, Star of the Seas, followed in August 2025. These ships represent the latest in cruise design and technology.
The third ship in the class, Legend of the Seas, recently completed its float out from the assembly dock. It is now undergoing outfitting. Its maiden voyage is planned for summer 2026. Construction on the unnamed fourth ship of the class began this month. It is scheduled for delivery in 2027.
This steady build schedule ensures a continuous flow of new ships joining Royal Caribbean's fleet. The exercise of the fifth ship option and the new seventh ship option further extends this production timeline. These options are subject to final financing arrangements.
Casimir Lindholm, CEO of Meyer Turku, commented, "With this framework agreement now signed, we announce our common plan for the next decade in cooperation with Royal Caribbean Group and other key partners to build more Icon class ships and drive the future of shipbuilding over the next decade."
Future Ship Classes and Industry Trends
Royal Caribbean Group has indicated that this multi-year agreement also prepares the company for a new class of ships beyond the Icon series. The company has vaguely discussed a new ship class known as "Discovery." This class is intended to replace older, mid-size cruise ships in their fleet. Specific details for the Discovery class have not yet been announced.
By securing building slots at Meyer Turku, Royal Caribbean ensures its access to one of the leading shipyards for large cruise vessel construction. The global market for large cruise ships is dominated by a few key shipyards. These include Meyer yards in Germany and Finland, Fincantieri in Italy, and Chantiers de l'Atlantique in France.
Global Shipbuilding Landscape
Other major cruise lines also have long-term agreements with these shipyards:
- Meyer Papenburg (Germany) builds ships for Disney Cruise Line and Carnival Cruise Line.
- Fincantieri (Italy) has large slots reserved for Carnival Cruise Line and Norwegian Cruise Line, including ships over 200,000 gross tons.
There have been rumors that Meyer Turku was in talks with MSC Cruises for a new class of mega cruise ships, potentially 265,000 gross tons or larger. However, no official confirmation or order details have been released.
Royal Caribbean's Broader Expansion Plans
Royal Caribbean Group currently has a robust pipeline of nine new cruise ships on order. This includes three more Icon class vessels. It also includes a seventh Oasis class cruise ship under construction in France. For its Celebrity Cruises brand, two Edge class ships are on order, also being built in France. The company is also expanding into river cruises with two new river cruise ships for Celebrity's new operation.
In addition to these, Royal Caribbean is building a second TUI LNG-fueled cruise ship at Fincantieri. This vessel is for its joint venture, Mein Schiff. The company's expansion extends beyond new ships. It plans to add seven land-based destinations by 2028. These new destinations will include beach clubs and private ports designed to serve its growing cruise fleet.
This comprehensive strategy shows Royal Caribbean's focus on fleet modernization, diversification of offerings, and enhancing the guest experience both at sea and on land. The long-term agreement with Meyer Turku is a central part of this future growth plan.
