TUI Cruises, a joint venture between TUI and Royal Caribbean Cruises, has placed an order for two new cruise ships with Italian shipbuilder Fincantieri. The agreement, valued at over €2 billion ($2.34 billion), marks a significant investment in the cruise industry's future. These vessels are scheduled for delivery in 2031 and 2032.
Key Takeaways
- TUI Cruises ordered two new ships from Fincantieri.
- The contract value exceeds €2 billion ($2.34 billion).
- Deliveries are planned for 2031 and 2032.
- The new ships will be larger and dual-fuel LNG powered.
- This order replaces a previous deal for Marella Cruises.
New Agreement Replaces Earlier Order
This new order replaces a memorandum of agreement signed in March. The previous deal was between Fincantieri and TUI for two vessels intended for its Marella Cruises brand. The updated transaction has a higher value than the one initially predicted in the spring.
Fincantieri had previously described the March deal as "very important." This description applies to contracts exceeding €2 billion. The new agreement confirms and surpasses this financial threshold.
Fact: Significant Investment
- The new order is valued at more than €2 billion ($2.34 billion).
- This figure is higher than the original March agreement.
Vessel Specifications and Features
The two new cruise vessels will each measure 160,000 gross tons (gt). They are designed as sister ships to the 158,000-gt InTUItion-class Mein Schiff Relax, which Fincantieri built in 2025. These new ships will feature dual-fuel liquefied natural gas (LNG) engines.
A second ship in the InTUItion series is currently under construction at Fincantieri's Monfalcone yard. This vessel is expected for delivery next year. The new 2031 and 2032 ships will be larger than the ones originally planned for Marella Cruises.
Advanced Propulsion Technology
The use of dual-fuel LNG engines highlights a commitment to more sustainable operations. LNG is considered a cleaner-burning fuel compared to traditional marine fuels, reducing emissions. This aligns with growing industry trends towards environmental responsibility.
Industry Context: LNG in Shipping
Liquefied natural gas (LNG) is increasingly adopted in the shipping industry. It offers a way to reduce sulfur oxide (SOx), nitrogen oxide (NOx), and particulate matter emissions. This helps cruise lines meet stricter environmental regulations.
Expanding Partnership and Trust
Pierroberto Folgiero, Fincantieri's chief executive and managing director, expressed satisfaction with the expanded partnership. He noted the strong relationship with both TUI and Royal Caribbean.
"We are delighted to expand our partnership with the TUI Cruises brand, further enhancing our relationship with TUI and Royal Caribbean," said Pierroberto Folgiero. "This contract reaffirms the trust built over the years and the successful cooperation already achieved with the first two InTUItion class ships."
Folgiero emphasized Fincantieri's capability to support the growth of major cruise operators. He highlighted the combination of innovation, sustainability, and Italian shipbuilding excellence.
TUI Cruises Fleet Overview
TUI Cruises currently operates a fleet of 14 ships. Three of these vessels were built by Fincantieri's Vard subsidiary. This new order further strengthens Fincantieri's role as a key builder for the TUI Cruises brand.
The Marella duo, initially planned under the March agreement, was designed specifically for the English market. Those ships were scheduled for handover in 2030 and 2032. The new, larger vessels represent a shift in strategy for TUI Cruises' future fleet expansion.
Royal Caribbean's Broader Strategy
This announcement follows recent news regarding Royal Caribbean's broader shipbuilding plans. Last week, reports indicated that Royal Caribbean had secured newbuilding slots for a decade with Meyer Turku, a Finnish shipyard.
That deal included an order for a giant vessel and an option for another. Royal Caribbean, based in Miami, is the second-largest cruise operator by fleet size and the largest by market capitalization. These strategic moves underscore the company's long-term growth ambitions in the global cruise market.
- Royal Caribbean secured newbuilding slots until 2036.
- This includes an order for one large vessel and an option for a second.
- The company is a major player in the global cruise industry.
Impact on the Cruise Industry
The investment by TUI Cruises and Royal Caribbean signals confidence in the long-term recovery and growth of the cruise industry. Despite past challenges, major operators are continuing to invest in modern, efficient, and larger vessels to meet future demand. These new ships will enhance the passenger experience and offer more capacity.
The focus on LNG-powered ships also shows a clear direction for the industry. Companies are working to reduce their environmental footprint. This trend is likely to continue as technology advances and regulations become stricter. The orders provide stability for shipbuilders like Fincantieri, securing work for years to come.
