NCLH · 10-Q · 2026Q3 · Full report

Ship Construction Commitments

Norwegian Cruise Line Holdings Ltd. · 2026-10-29 · Importance 64 · Surprise 42 · Matches filing data

As of September 30, 2026, Norwegian Cruise Line Holdings had 13 ships on order with combined contract prices of approximately €18.0 billion, or $20.4 billion. Its ship construction contracts totaled approximately $19.4 billion, with committed undrawn export-credit-backed facilities of approximately $10.8 billion expected to fund about 80% of those contracts. The commitments exclude the two Oceania Cruises Sonata Class ships scheduled for delivery in 2032 and 2035 and the Regent Seven Seas Cruises Prestige Class ship scheduled for delivery in 2033 from that 80% funding coverage.

Key facts

• Export credit financing was in place for anticipated ship-construction expenditures of $0.6 billion for the remainder of 2026, $2.0 billion for 2027, and $1.3 billion for 2028. source
• As of September 30, 2026, Norwegian Cruise Line Holdings Ltd. had committed undrawn export-credit-backed facilities of approximately $10.8 billion, funding approximately 80% of ship construction contracts, except for the two Sonata Class Ships for Oceania Cruises scheduled for delivery in 2032 and 2035 and the Prestige Class Ship for Regent Seven Seas Cruises scheduled for delivery in 2033. source
• Export credit financing is expected to fund approximately 80% of each ship’s contract price and related financing premiums, subject to conditions. source
• As of September 30, 2026, the combined contract prices, including amendments and change orders, of the 13 effective ships on order were approximately €18.0 billion, or $20.4 billion. source
• The Company reset delivery dates for certain expected ship deliveries; future delays may be prolonged due to sustainability initiatives, ship modifications, shipyard availability, and macroeconomic conditions, among other factors. source
• The newbuild program includes Seven Seas Prestige, approximately 77,000 gross tons and 822 berths, with its contract effective and financed. source
• The newbuild program includes Norwegian Aura, approximately 170,000 gross tons and 3,880 berths, with its contract effective and financed. source
• The newbuild program includes Oceania Sonata, approximately 86,000 gross tons and 1,390 berths, with its contract effective and financed. source

Impact estimates