Royal Caribbean Cruises Ltd. (NYSE: RCL) and Silversea Cruises today announced agreements to build three new ships for Silversea Cruises, the ultra-luxury and expedition cruise brand that recently joined the RCL family.
Silversea signed a memorandum of understanding with German shipbuilder Meyer Werft to build two new vessels in a new "Evolution Class." The first Evolution-class ship is expected to deliver in 2022.
Silversea also signed a contract with Dutch shipbuilder Shipyard De Hoop to construct a new expedition vessel, named Silver Origin, that will serve the Galapagos Islands itinerary currently sailed by Silver Galapagos. The new ship is expected for delivery in March 2020.
"We are delighted to have entered into an agreement with Meyer Werft on the Silver Evolution series and De Hoop for Silver Origin," says Manfredi Lefebvre d'Ovidio, Silversea's Executive Chairman. "With our guests in mind, we are pushing the boundaries of ultra-luxury cruising, as well as expedition cruising in the Galápagos Islands and beyond, redefining the concept of immersive travel."
"We are excited to get to work helping Silversea grow and realize its ambitions," said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd., which finalized its two-thirds acquisition of Silversea earlier this year. "There is tremendous potential in the ultra-luxury and expedition markets of the cruise industry, and we believe discerning travelers will embrace the exciting designs Silversea is imagining for them."
"We are very happy to build these new ships for Silversea Cruises. Together with Silversea we will create a new generation of environmentally friendly ships in the ultra-luxury cruise market," said Tim Meyer, Managing Director of Meyer Werft.
"We are excited and proud to receive this order," said Patrick A.B.M. Janssens MA, CEO, Shipyard De Hoop. "It is not only about building the best small expedition cruise vessel, but also about building and maintaining a high-quality partnership with Royal Caribbean and Silversea."
The agreements are subject to certain contingencies which are expected to be completed in the first quarter of 2019.
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