| Royal Caribbean orders fourth |
| Royal Caribbean has confirmed an order for a fourth Quantum-class newbuilding at Germany’s Meyer Werft, for delivery in 2019. Although no price was disclosed, the first three vessels in the series were priced at about USD230,000/berth or about USD950 million/vessel. The first of the series, the Quantum of the Seas, debuted in November 2014, while the second, the Anthem of the Seas, was christened on 20 April. The third, Ovation of the Seas, is scheduled for delivery in 2Q16. The order for the fourth Quantum-class vessel “is a reflection of the success of the first two Quantum-class ships”, explained Royal Caribbean chairman Richard Fain. Including the latest order, Royal Caribbean is set to grow capacity by 5.5% this year, 6.3% in 2016, 3.1% in 2017, 3.9% in 2018 and 6.5% in 2019. “The new Quantum order is not surprising given the two sister ships off to China,” said UBS analyst Robin Farley in a research note. She was referring to the decision to homeport of the Quantum and Anthem of the Seas in China to tap that source market. Farley estimated that capacity growth in the North American market from 2015-19 will average 3-4% per year. “We expect eventual net capacity growth to come in much lower, as additional tonnage is deployed to China or withdrawn,” said Farley. |