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Royal Caribbean Group (NYSE: RCL) has entered into a long-term framework agreement with Meyer Turku shipyard, ensuring exclusive building rights at the Finnish yard through the next decade. The deal paves the way for additional Icon-class ships and lays the groundwork for a future generation of cruise vessels.
Meyer Turku has already delivered two Icon-class ships — Icon of the Seas (launched January 2024) and Star of the Seas (August 2025). The third, Legend of the Seas, is scheduled for delivery in summer 2026, followed by Icon 4 in 2027. As part of the new agreement, Royal Caribbean has confirmed an order for Icon 5 (delivery 2028, subject to financing) and secured options for Icon 6 and Icon 7.
“This multi-year agreement strengthens our partnership with one of the world’s premier shipbuilders and positions us to continue reimagining the future of travel,” said Jason Liberty, president and CEO of Royal Caribbean Group. “The Icon Class has already proven to be a groundbreaking series, and together with Meyer Turku, the Finnish government, and the country’s maritime cluster, we are setting the stage for an era of innovation that will transform vacations through 2036.”
Meyer Turku CEO Casimir Lindholm echoed the significance of the agreement: “This framework outlines our shared vision for the next decade. It highlights the world-class expertise of Meyer Turku’s workforce and the Finnish maritime industry. These ships are more than projects — they are symbols of technological progress and innovation.”
The partnership between Royal Caribbean and Meyer Turku spans nearly three decades, with 25 ships delivered since the mid-1990s. Each Icon-class vessel represents Finland’s largest industrial project, generating more than €1 billion annually and supporting around 13,000 jobs across the shipyard and its supply chain.
Finland’s leadership hailed the agreement as a major boost to the national economy. “This is excellent news for Finland,” said Prime Minister Petteri Orpo. “The collaboration will continue to create thousands of jobs and strengthen our maritime ecosystem.” Minister of Economic Affairs Sakari Puisto added: “Our shipyards, industrial networks, and research institutions are global leaders in sustainable shipbuilding, making Finland a prime destination for future investment.”
Orders beyond Icon 5 will depend on Royal Caribbean’s execution of its contractual options and financing conditions, but the deal firmly establishes Meyer Turku as the hub for one of the cruise industry’s most innovative fleets.
