TUI Cruises has returned to Meyer Turku in Finland to order a third cruise ship newbuilding, the yard has confirmed.
The Mein Schiff 7 will be based on the same design as the Mein Schiff 1 & 2. Delivery of this latest ship is due for 2023.
The cruise line, which is a joint venture between TUI Group and Royal Caribbean Cruises, did not disclose the value of the contract.
The new ship will likely be around 110,000t and have a capacity for 2,900 passengers. The two sister ships are being built at a cost of $625m each.
A TUI spokesman told Reuters that the purchase would be financed in a similar way as previous orders, with about 80% debt-financed and 20% covered by its own funds.
The agreement is still subject to financing, which is now being worked on with the banks and the Finnish export credit agency Finnvera.
“We are very thankful that TUI Cruises is entrusting us with building another ship to their fleet of modern and beautiful Mein Schiffs,” said Meyer Turku chief executive Jan Meyer.
“It will bring further good work to Turku shipyard as well as the Finnish maritime cluster. This is what we are preparing for with our recruitments and investments.”
The Mein Schiff 1 and 2 vessels, which are also under construction at Meyer Turku, are due for delivery in 2018 and 2019, respectively.
TUI, which is listed on the London Stock Exchange, is expected to report first quarter earnings on Tuesday morning.
