Royal Caribbean extends fleet, moves towards greener operations
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Royal Caribbean extends fleet, moves towards greener operations

Global cruise company Royal Caribbean has announced that it’s increasing capacity with a new Icon-class cruise liner which will be delivered in 2025. This ship will join two previously commissioned Icon-class ships, which will be delivered in 2022 and 2024 respectively, and extends not only the company’s passenger capacity, but also its green energy credentials – a vitally important fact, given both the progression of climate change and consumer preference.

Royal Caribbean’s share price has increased by 23% so far this year rpyal caribbean g 040719

Source: Yahoo Finance

The provider of all three ships, Meyer Turku, is looking to change the game with Icon-class ships. In a statement, the shipbuilder’s CEO, Jan Meyer, praised Royal Caribbean for its forward-thinking approach to business, saying: “2e are very thankful to Royal Caribbean for their confidence in the Icon ship design and our ability to build such an exceptional ship even before the first Icon is delivered.”

The reason these commissions are a sign of forward thinking is that the Icon-class ships won’t just be aboon for travellers, but for the environment too. That’s a crucial factor in Royal Caribbean’s choice, as it’s reflective of considerations of both a looming environmental crisis, and consumers’ approach to that crisis.

In a keynote speech at Cruise360. Royal Caribbean’s vice chairman, Adam Goldstein, highlighted that European cruisers are well aware of their environmental impact. He said: “There is just extraordinary sensitivity through the continent of Europe to how all industries, all companies, and even governments are behaving when it comes to sustainability. It is the first question that comes up anywhere I go there. And I don’t see that changing other than to get even more intense. I don’t know if the United States will ever be like that, but I am very confident to say it will become more like that.”

Hence, Royal Caribbean is committed to remaining a leader in the trend towards more sustainable cruising – for both ethical and business reasons.

In a press release about the new ship, Royal Caribbean’s president and CEO, Michael Bayley, said: “These are exciting times for Royal Caribbean, and we have an incredible partner in Meyer Turku to bring to life now three vessels of what will be a remarkable class of ships. Building on our vision with the addition of a third order is a testament to our confidence in the innovative design and energy-efficient technology and engineering that will, without a doubt, make Icon class a game changer.”

Disclosure
Dominion holds Royal Caribbean in its Global Trends Luxury Fund.


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