ON September 23, 2025, Royal Caribbean Group (NYSE: RCL), a global vacation leader that is redefining the future of vacations, announced a long-term framework agreement with Meyer Turku that secures Royal Caribbean Group’s rights to build at the yard through the next decade.
As part of this agreement, Royal Caribbean Group also confirms an order for Icon 5 to be delivered in 2028, subject to financing, and adds an option to build Icon 7 (in addition to the previously announced option to build Icon 6). This multi-year agreement strengthens Royal Caribbean Group’s relationship with Meyer Turku, one of the world’s largest and most modern shipyards specializing in cruise ships, and readies Royal Caribbean Group for a new, game-changing class of ship beyond Icon.
To date, Meyer Turku has built, and Royal Caribbean Group has launched two Icon Class ships with Icon of the Seas (January 2024) and Star of the Seas (August 2025), with the third Icon ship – Legend of the Seas – scheduled to sail next year (Summer 2026). Icon 4 is scheduled to be delivered in 2027.
Orders beyond Icon 5 are subject to Royal Caribbean Group’s exercise of the options and execution of firm construction agreements, which are expected to be subject to customary conditions including financing.
Known for its history of delivering best-in-class ships, the Turku shipyard has built 25 ships for Royal Caribbean Group since mid-1990s. The buildout of each cruise ship of this scale is the largest single industrial project in the country, employing approximately 13,000 people at Meyer Turku and in the shipyard’s network which brings Finland more than a billion euros in added value per year. With Meyer Turku and the Finnish maritime industry at the forefront of developing energy and environmental technologies that accelerate green transition, their efforts are strengthening Finland’s international competitiveness and reputation as a country with a large network of specialized companies for cruise shipbuilding, extraordinary design capability, cutting edge technology, and demanding project management.
“This new framework agreement is excellent news for Finland. The longstanding collaboration between Royal Caribbean Group and Meyer Turku will continue to have a significant positive impact on Finland’s economy, creating jobs across the country and energizing our unique maritime ecosystem,” said Petteri Orpo, Prime Minister of Finland.
“Our strong shipyards, industrial networks and leading research institutions around them, deliver innovative and sustainable world-class ships, making Finland an attractive destination for future investment,” added Sakari Puisto, Minister of Economic Affairs of Finland.
Meyer Turku CEO Casimir Lindholm added: “With the framework agreement now signed, we announce our common plan for the next decade in cooperation with Royal Caribbean Group and other key partners to build more Icon Class ships and drive the future of shipbuilding over the next decade. I am extremely proud of the recognition that these orders bring to the skilled personnel at Meyer Turku and to the Finnish maritime industry expertise.”
With a differentiated ecosystem that currently includes a pipeline of nine new ships, seven total land-based destinations by 2028, plus unique experiences and a seamless digital ecosystem, Royal Caribbean Group is in the midst of revealing its multi-year pipeline of new vacation offerings that span ocean, river and land-based vacations, solidifying its position as a vacation innovator.