Royal Caribbean (RCL)Contracts Third Oasis-Class Vessel
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Royal Caribbean Cruises Ltd. (NYSE: RCL) has executed a contract with STX France to construct a third Oasis-class vessel for delivery in mid-2016. This order is consistent with the plan announced by the company in October to build a sister-ship to the very successful Oasis of the Seas and Allure of the Seas.
The newbuild contract includes the transfer of Pullmantur's Atlantic Star as part of the consideration. Additionally, the contract is subject to satisfaction of financing and other conditions. STX France has also provided the company with a one-year option for the mid-year 2018 delivery of a fourth Oasis-class vessel at similar pricing.
Including today's contract and existing ship orders, projected capital expenditures for 2012, 2013, 2014, 2015 and 2016 are $1.3 billion, $700 million, $1.2 billion, $1.2 billion and $1.3 billion, respectively. The company's annualized capacity growth rate from 2012 to 2016 remains at a historically low rate of 3.5%.
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The newbuild contract includes the transfer of Pullmantur's Atlantic Star as part of the consideration. Additionally, the contract is subject to satisfaction of financing and other conditions. STX France has also provided the company with a one-year option for the mid-year 2018 delivery of a fourth Oasis-class vessel at similar pricing.
Including today's contract and existing ship orders, projected capital expenditures for 2012, 2013, 2014, 2015 and 2016 are $1.3 billion, $700 million, $1.2 billion, $1.2 billion and $1.3 billion, respectively. The company's annualized capacity growth rate from 2012 to 2016 remains at a historically low rate of 3.5%.
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