Regent Seven Seas Cruises has entered into a definitive contract with Italy's Fincantieri shipyard to build a new ship with delivery scheduled in summer 2016.
Accommodating 738 guests, the new ship will be named Seven Seas Explorer and will be the luxury line's third all-suite, all-balcony ship. At 54,000 gross-registered tons, Seven Seas Explorer will be the largest vessel in the Regent Seven Seas Cruises fleet. The contract price for the vessel is approximately $450 million, making Seven Seas Explorer the most expensive luxury liner ever built. Financing for the project is being arranged by Crédit Agricole Corporate and Investment Bank with support from SACE, Italy's export credit facility.
"This new ship order represents an exciting time of growth for our company as we build the next generation of cruise ships for the world's most inclusive luxury cruise line," said Frank J. Del Rio, Prestige Cruise Holdings chairman and CEO. "Seven Seas Explorer will be the most luxurious cruise ship ever built, boasting one of the highest space ratios and staff-to-guest ratios ever seen in the modern era of cruising enabling us to deliver the highly personalized service and extraordinary experience that is the hallmark of the Regent brand."
Seven Seas Explorer will have designer suites, public areas, a wide-range of gourmet dining options, a spa and other amenities. "At Regent, we believe more is best," Del Rio said.
Architectural and interior design firms Tillberg Design AB, RTKL Associates and ICrave are designing the vessel, which will have 369 suites ranging from 300 square feet to 1,500 square feet, six open-seating gourmet restaurants, Regent's nine-deck atrium, the two-story Explorer Theater, three boutiques and a Canyon Ranch SpaClub.
The specifications for the ship call for a hull 732 feet long, with a beam of 102 feet and a draft of 23 feet. The ship will be powered by diesel-electric engines with a service speed of 20 knots. Seven Seas Explorer will be a "green ship" employing the most advanced environmental systems and state-of-the-art technology.
With the Seven Seas Explorer, Regent Seven Seas Cruises' overall fleet capacity will grow nearly 40 percent, making the brand the world's largest luxury cruise line.
"This new ship order is part of our disciplined growth strategy to expand our footprint in the luxury market," said Kunal S. Kamlani, president of Regent Seven Seas Cruises. "Since we purchased the Regent Seven Seas Cruises brand in 2008, the ships have sailed full with industry-leading yields. We strongly believe that now is the right time to expand our fleet as our loyal guests have asked for a greater array of itineraries and our travel partners have proven that there is pent-up demand for a new Regent ship."
Commenting on the announcement, Fincantieri CEO Giuseppe Bono said: "I am extremely pleased with this new order, which is all the more important because it establishes our global leadership in this sector and strengthens our presence in the luxury segment with the addition of another prestigious brand to our client list, also thanks to the fundamental synergy created by the country through agencies designated to promote Fincantieri exports."
Further details about the ship will be announced in the coming months.
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