NCLH back at Fincantieri for three new ships

Fincantieri reports that it has received a significant order from Norwegian Cruise Line Holdings Ltd. (NCLH) for the construction of three next-generation cruise ships.

The order includes one ship for each of NCLH’s three brands Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. Each will be a sister ship to the most recent newbuilds built by Fincantieri for therespective brands.

“Together with Fincantieri, a trusted partner for decades, we continue to advance a disciplined approach to fleet growth that builds on the strength of our brands, defines the future of cruising and elevates the guest experience for years to come,” said John W. Chidsey, NCLH’s newly-installed president and CEO. “This agreement secures access to valuable shipyard capacity through the end of 2037, supporting our long-term growth while maintaining financial discipline and driving sustainable shareholder value.”

All three ships will be constructed at Fincantieri’s Italian shipyards, with deliveries scheduled between 2036 and 2037. Fincantieri says that they “will embody the highest standards of technological innovation, comfort, and will include environmental sustainability features, reflecting the shared commitment of both groups to responsible and forward-looking growth.”

“This milestone reflects the core elements of our strategy, as per our 2026–2030 Industrial Plan: leadership, innovation, and the capability to transform the global shipbuilding industry,” said Pierroberto Folgiero, CEO and managing director of Fincantieri. “These next‑generation ships will bring together advanced technology, design excellence, a strong focus on sustainability, energy efficiency and passenger experience, and the industrial strength of our shipyards, reaffirming Fincantieri’s role at the forefront of cruise innovation.”This milestone reflects the core elements of our strategy, as per our 2026–2030 Industrial Plan: leadership, innovation, and the capability to transform the global shipbuilding industry,” said Pierroberto Folgiero, CEO and managing director of Fincantieri. “These next‑generation ships will bring together advanced technology, design excellence, a strong focus on sustainability, energy efficiency and passenger experience, and the industrial strength of our shipyards, reaffirming Fincantieri’s role at the forefront of cruise innovation..”

The new ship for Norwegian Cruise Line will have a gross tonnage of approximately 227,000 tons and will have over 5,000 berths. The vessel for Regent Seven Seas Cruises will have a gross tonnage of 77,000 tons and around 822 berths, reflecting the brand’s positioning in the ultra‑luxury segment. The ship for Oceania Cruises will feature a gross tonnage of 86,000 tons and approximately 1,390 berths, consistent with the brand’s focus.

NCLH says the order supports its long-term growth pipeline and competitive position with modest initial capital outlays, allowing it to remain focused on strengthening the balance sheet and reducing leverage. It says that the agreement is not expected to have a material impact on near-term leverage or cashflow, as pre-delivery payment obligations are immaterial until the ship is delivered. Consistent with past practice, the company expects to utilize Export Credit Agency financing to fund the majority of the vessels’ cost upon delivery.

Following this agreement, NCLH now has a total of 17 newbuilds on order; with Norwegian Cruise Line totaling eight newbuilds through 2037, five newbuilds for Oceania Cruises to be delivered through 2037 and four newbuilds to be delivered through 2036 for Regent Seven Seas Cruises. This newbuild pipeline supports an expected 4% compound annual growth rate (CAGR) from 202

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