Odyssey of the Seas, Royal Caribbean’s second Quantum Ultra Class cruise ship, is set to join the company’s fleet by the end of the first quarter of this year.
Meyer Werft floated out Odyssey of the Seas in December 2020. The ship then moored at the outfitting pier in the shipyard harbour to receive its masts and chimney.
The ship is the first of a total of two newbuild deliveries slated for this year, Royal Caribbean said reporting its business results for the fourth quarter of 2020 and the entire last year.
The second ship set for completion and delivery in the fourth quarter of the year is Silver Dawn, which is being built by the Italian shipbuilder Fincantieri.
The two ships make up the majority of the company’s capital expenditures planned for this year totaling in $2.1 billion.
Driven primarily by the profound impact of the Coronavirus pandemic, for the full year of 2020, the company reported US GAAP Net Loss of $5.8 billion compared to US GAAP Net Income of $1.9 billion in the prior year. The adjusted net loss stood at $3.9 billion compared to adjusted net income of $2.0 billion in 2019. For the fourth quarter alone, US GAAP net loss was $1.4 billion a major drop from a net income of $273.1 million for the same period in 2019.
“The COVID-19 pandemic is having a painful and profound impact on our world and our business; unquestionably, this crisis is the most difficult in the company’s history,” said Richard D. Fain, Chairman and CEO. “We are encouraged to see the sharp decline in cases and the growing availability of vaccines. We can’t wait to get back to the business of showing people the world and making great memories.”
As it relates to 2022, the company has two ship deliveries scheduled, both with committed financing: Wonder of the Seas and Celebrity Beyond.
Since the suspension of operations and during 2020, Royal Caribbean divested three ships from its fleet: Celebrity Xperience, Majesty of the Seas, and Empress of the Seas.
The company also divested three ships being used by its Pullmantur affiliate. Additionally, the company announced it entered into a definite agreement to sell its Azamara brand which includes three vessels: Azamara Journey, Azamara Quest and Azamara Pursuit.