Royal Caribbean Inks Shipbuilding Partnership Agreement in Finland

One of the world's largest cruise companies Royal Caribbean Group announced it has signed a declaration with the aim to chart the way forward for innovative and sustainable shipbuilding in Finland.

The declaration, signed with the Finnish government, represented by the Ministry of Economic Affairs and Employment (MEAE) and shipbuilder Meyer Turku Oy, has been signed with the goal to advance innovation, strengthen competitiveness and bolster the maritime industry's ecosystem, U.S. based Royal Caribbean said on Wednesday.

"Our partners in Finland have helped us deliver some of the world's most impressive and sustainable ships of their time, including our newest ship debuting in January 2024, Icon of the Seas," said Jason Liberty, president and CEO of Royal Caribbean Group. "This new partnership sets the stage for future innovations and allows us and the maritime industry to continue pursuing sustainability at the highest level."

Among actions included in the declaration are plans to curb economic challenges as well as pilot new innovations and technologies, including those for climate-neutral ships. Royal Caribbean Group has previously committed to introducing a net-zero cruise ship by 2035 ahead of totally decarbonizing its operations by 2050.

The declaration comes on the heels on the float out of Royal Caribbean's Icon of the Seas, set to be the world's largest cruise ship upon its delivery from Meyer Turku in January 2024. 

"The Finnish maritime ecosystem is built on the innovativeness, expertise and skills of the thousands of leading shipbuilders at Meyer Turku, and Icon of the Seas is the latest example of what can be built here in Finland," said Mika Lintilä, Finland's Ministry of Economic Affairs. "This new declaration will secure a future in which the maritime industry continues to make strides in our decarbonization goals and economic growth priorities for years to come."

Together with the German shipyards, Meyer Werft in Papenburg, and Neptun Werft in Rostock, Meyer Turku forms the Meyer Group, one of world's leading cruise ship builders.

Meyer Turku has previously built a number of ships for Royal Caribbean and its brands, and the company also has agreements with the shipyard to build the unnamed second and third ships in the Icon Class for its Royal Caribbean International brand, and Mein Schiff 7, which is currently under construction for the company's TUI Cruises brand.

"While expertise and interdisciplinary collaboration will always be key to the success of shipbuilding, we recognize the need to continuously evolve and create strategies to reduce carbon emissions toward net zero," said Tim Meyer, CEO, Meyer Turku Oy. "This commitment will set us up, as an industry, to innovate and adapt in how we design, build and operate ships. This challenge presents significant opportunities for the Finnish maritime industry to take the lead globally and bring to market new technologies and products."