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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULES 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2000
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ROYAL CARIBBEAN CRUISES LTD.
1050 CARIBBEAN WAY, MIAMI, FLORIDA 33132
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(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.]
FORM 20-F [X] FORM 40-F [ ]
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
YES [ ] NO [X]
[If "Yes" is marked indicate below the file number assigned to the
registrant in connection with Rule 12g-3-2(b): 82______].
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Contact: Lynn Martenstein
(305) 539-6573
For Immediate Release
ROYAL CARIBBEAN INTERNATIONAL ORDERS 4TH AND 5TH EAGLE-CLASS SHIPS
MIAMI - February 29, 2000 - Buoyed by the success of the revolutionary
cruise ship VOYAGER OF THE SEAS, Royal Caribbean Cruises Ltd. (NYSE & OSE: RCL)
and Kvaerner Masa-Yards have reached a preliminary agreement to build the fourth
and fifth Eagle-class vessels for Royal Caribbean International. The companies
have signed a letter of intent which calls for two unnamed ships at a total
contract price of 1.1 billion euros, which at today's exchange rate has a value
of about $1.1 billion. The ships are due for delivery in 2002 and 2003. This
letter of intent is subject to the fulfillment of certain conditions, such as
financing by the shipyard.
Two sisters of the 3,114-passenger, 142,000-ton VOYAGER OF THE SEAS are
currently under construction in Turku, Finland. EXPLORER OF THE SEAS and
ADVENTURE OF THE SEAS are due in 2000 and 2001, respectively. Both ships will
have many of the unique features introduced three months ago on VOYAGER OF THE
SEAS, such as a four-deck-high horizontal atrium Royal Promenade, atrium-view
staterooms, an ice-skating rink and a rock-climbing wall. EXPLORER OF THE SEAS
will have the cruise industry's first marine and atmospheric laboratories,
staffed by research scientists.
"We believe, and our guests and travel agents have told us, that
VOYAGER OF THE SEAS is a winning formula," said Richard D. Fain, Royal
Caribbean's chairman and CEO. "We are eager to sustain the momentum of our
Eagle-class series."
Kjell Almskog, president and CEO of The Kvaerner Group, said, "The
Eagle-class ships are a great source of pride for us, and we look forward to the
challenge of continuing to build these truly revolutionary ships."
MORE . . .
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ROYAL CARIBBEAN ORDERS TWO MORE EAGLE-CLASS SHIPS 2-2-2-2
The cruise industry continues to experience dramatic growth; Royal
Caribbean International and its sister brand, Celebrity Cruises, successfully
launched 10 new ships in the past five years, evidencing the strong fundamentals
the industry enjoys.
"Even with the increased capacity," Fain said, "we still expect to
fill our ships in 2000 while improving yields over 1999. This demonstrates the
continued strength of Royal Caribbean's brands and of the cruise market. While
there seems to be some pressure on pricing, the fundamentals of the industry
continue to be very attractive.
"Further evidence of this strength and of our ability to expand the
market is the fact that the percentage of first-time cruisers at Royal Caribbean
International remains at roughly 50 percent. This rate has remained quite stable
at this level for more than 10 years, providing additional confirmation of our
success in attracting new customers from the 89 percent of Americans who have
not yet cruised."
Royal Caribbean Cruises Ltd. is a global cruise company, operating two
cruise brands, Royal Caribbean International and Celebrity Cruises. The brands'
combined fleet consists of 17 in service with another 10 ships under
construction, excluding the fourth and fifth Eagle-class ships. For additional
information about Royal Caribbean Cruises Ltd., please visit
www.royalcaribbean.com or www.rclinvestor.com.
# # #
Certain statements in this news release are forward-looking statements. Such
forward-looking statements are not guarantees of future performance and involve
known and unknown risks, uncertainties and other factors, which may cause the
actual results, performances or achievements to differ materially from future
results, performance or achievements expressed or implied in such
forward-looking statements. Such factors include general economic and business
conditions, changes in cruise industry competition, delivery schedule of new
vessels, emergency ship repairs and other factors described in further detail in
Royal Caribbean's filings with the Securities and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ROYAL CARIBBEAN CRUISES LTD.
(Registrant)
Date: March 1, 2000 By: /s/ Richard J. Glasier
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Richard J. Glasier
Executive Vice President
and Chief Financial Officer
