Royal Caribbean Initiates Order For Fourth Freedom Class Ship

Norwegian shipbuilder Aker Yards has signed a preliminary agreement with Royal Caribbean Cruises on a fourth Freedom-class vessel for delivery in the second half of 2011. The placement of the order is still subject to varying conditions including board approval and finalization of terms and conditions, Aker Yards said. Royal Caribbean's third Freedom-class ship, Independence of the Seas, will debut this May, while its two Genesis-class ships, also being built by Aker Yards, are scheduled to debut in fall 2009 and August 2010 respectively.

Meanwhile, Aker Yards also reported that its CEO, Yrjo Julin, is resigning after the company reported a $97 million loss in the fourth quarter of 2007. (DE)

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