Royal Caribbean Group has placed all its new cruise ship orders through 2027, said Jason Liberty, president and CEO, speaking on the company’s third quarter earnings call in late October.

“You certainly have seen all of our orders through 2027 and maybe even into 2028,” Liberty said.

Those orders include three more Icon-class ships, one Celebrity newbuild, plus another Oasis-class vessel. In addition are two ships for TUI Cruises, which is part of Royal Caribbean’s joint venture with TUI Group.

“We have lots of options that are available to us that we’ve secured. But I will say that we heavily subscribed to moderate yield growth, moderate capacity growth and good cost control,” Liberty said.

“So on that moderate capacity growth standpoint, we continue to look to moderately grow our fleet and moderately grow each of our brands. And again, as just a general reminder, when we order ships …. They’re not at all going to the same brand, they’re not all going to the same market and they’re not all going to the same itinerary. We operate a very large global footprint that we feel very confident about our ability to get yield growth and good yield growth on capacity growth over time.”