Del Rio: New Ship Size ‘Optimal Balance’

Norwegian Cruise Line’s order from Fincantieri for at least four 140,000-ton 3,300-passenger ships for deliveries from 2022 through 2025 represents a small step back in size from recent Breakaway-class ships.

Speaking on the company’s year-end earnings conference call, President and CEO Frank del Rio called it an optimal size.

“The size of these vessels provides an optimal balance between deployment flexibility and earnings potential, allowing us to add new ports of call worldwide while maintaining a strong return profile with a payback of roughly five years, in line with our most recent newbuild,” said del Rio.

The financing rates are also impressive, with fixed interest rates on the first two ships average 2.7 percent, and the interest rates on the final two ships at 1.25 percent.

The ships will also allow Norwegian to redeploy existing vessels to other domestic and international homeports, where the company does not yet have a presence, according to del Rio.

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