Cruise Ship Newbuilding Famine Relieved by NCL

Norwegian Cruise Line (NCL) orders new cruise liner from Germany's Meyer Werft with option for a second.

The ship's contract price is approximately euro 700 million and the company has export credit financing in place which was arranged and underwritten by KfW IPEX-Bank GmbH of Germany. Delivery is scheduled for delivery in October 2015, and the delivery for the second (optional) ship would be spring 2017.

The new ship, at 163,000 gross tons and approximately 4,200 passenger berths, will be larger than the Company's Breakaway class ships currently under construction at Meyer Werft and incorporate many of those vessels' unique design elements and innovations. With the project name "Breakaway Plus," this new vessel will be the largest in NCL's fleet.

"Norwegian Breakaway and Norwegian Getaway have garnered significant attention in the marketplace with their innovative design, rich stateroom mix and world-class amenities. Building on that momentum, along with Meyer Werft's expertise and efficiency in the design and construction process, we are extending the excitement and anticipation with a new, larger edition Breakaway Plus class ship to further distinguish the Norwegian brand," said Kevin Sheehan, Norwegian Cruise Line's chief executive officer. "This new order further solidifies our commitment to continued innovation in terms of the guest experience and will incorporate technical and environmental advances as well."

Founded in 1795, Papenburg-based Meyer Werft is owned by the sixth generation of the Meyer family. It claims to have the most modern production premises in the shipbuilding industry.