Norwegian Cruise Line Holdings (NYSE:NCLH), the third-largest cruise operator, has ordered eight new ships for its three brands, the largest order in the company’s history.
The ships are expected to be delivered over a 10-year period with four 200,000-ton ships ships with a capacity of 5,000 guests each to be delivered from 2030 to 2036. Oceania Cruises will take delivery of two 86,000 gross tonnage ships with a capacity of 1,450 guests each in 2027 and 2029, while Regent Seven Seas will take delivery of two ships of 77,000 tons. gross tonnage ships with a capacity of 850 guests each in 2026 and 2029. Norwegian (NCLH) currently operates a fleet of 32 ships with space for more than 66,000 passengers. The ships will be built by Italian shipbuilder Fincantieri.
Along with the new ships, the company will also add a new dock at Great Stirrup Cay Harbor on its private island in the Bahamas. The pier is expected to be completed by the end of 2025.
“We expect that these strategic investments will secure our growth trajectory, significantly increase our earnings profile and enhance shareholder value well into the future. With a favorable payment structure that includes pre-delivery financing and modest initial installment payments, we still expect a strong net deleveraging of 1.5 rounds by the end of 2024, compared to 2023,” said CFO Mark Kempa.
Last month, Norwegian (NCLH) reported a 32% increase in fiscal 23 revenues compared to the pre-pandemic level, while revenues per cruise day per passenger increased 17% compared to 2019. Additionally, the advance ticket sales balance ended 2023 at a year-end record of $3.2 billion. , up 56% compared to 2019.