MIAMI and TURKU, Finland – Royal Caribbean Group (NYSE: RCL) announced a long-term shipbuilding contract with the Meyer Turku shipyard of Finland. The agreement secures Royal Caribbean Group’s rights to build at the yard through the next decade. As part of the agreement, Royal Caribbean Group confirmed an order for Icon 5 to be delivered in 2028, subject to financing. It also includes an option for Icon 7, in addition to the previously announced option for Icon 6.
“As we continue to reimagine the future of vacations, we are excited to continue collaborating with Meyer Turku to grow the Icon Class – a first-of-its-kind series that delivers exceptional vacation experiences – and position us to usher in a new era of innovation that will disrupt the vacation sector through 2036,” said Jason Liberty, president and CEO, Royal Caribbean Group, in a PR Newswire release. “This is an exciting time for our company, and we are proud to launch this new stage in our history with our esteemed partners, Meyer Turku, the Finnish government, and the Finnish maritime cluster.”
Meyer Turku has built two Icon Class ships: Icon of the Seas (delivered January 2024) and Star of the Seas (August 2025). A third, Legend of the Seas, is scheduled for Summer 2026. Icon 4 is scheduled for delivery in 2027.
“With the 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,” said Meyer Turku CEO Casimir Lindholm. “I am extremely proud of the recognition that these orders bring to the skilled personnel at Meyer Turku and to the Finnish maritime industry expertise.”
Orders beyond Icon 5 depend on the company exercising its options and signing construction agreements, subject to conditions including financing.
The Turku shipyard has built 25 ships for Royal Caribbean Group since the mid-1990s. Each ship project employs approximately 13,000 people at Meyer Turku and its network. The industry generates over one billion euros in added value annually in Finland.
Petteri Orpo, the Prime Minister of Finland, also released a statement in support of the project, saying: “This new framework agreement is excellent news for Finland. The longstanding collaboration between Royal Caribbean Group and Meyer Turku will continue to have a significant positive impact on Finland’s economy, creating jobs across the country and energizing our unique maritime ecosystem.”
Sakari Puisto, Minister of Economic Affairs of Finland, added: “Our strong shipyards, industrial networks and leading research institutions around them, deliver innovative and sustainable world-class ships, making Finland an attractive destination for future investment.”
Royal Caribbean Group currently has nine new ships in development, seven land-based destinations planned by 2028, and other vacation products across ocean, river, and land.
More information: royalcaribbeangroup.com
