Finnvera guarantees Royal Caribbean Group’s Icon 5 cruise ship to be built in Turku

Finnvera has granted Royal Caribbean Group a buyer credit guarantee that enables building of Icon 5 cruise ship in Meyer Turku shipyard. As part of the Icon class cruise ship series, Icon 5 is scheduled to be delivered in 2028. The amount of the guarantee is USD equivalent of approximately EUR 2 billion. 

At the moment, Meyer Turku is building Icon 3 – Legend of the Seas –, scheduled to sail in summer 2026, and Icon 4 – Hero of the Seas-, scheduled to sail in summer 2027. Previously, Meyer Turku has built, and Royal Caribbean Group has launched two Icon Class ships with Icon of the Seas (January 2024) and Star of the Seas (August 2025). Altogether, Turku shipyard has built 25 ships for Royal Caribbean Group since mid-1990s. 

The Icon class project will bring desired continuity to the Finnish shipbuilding industry. The strategic importance of the cruise shipping and shipyard sector is growing due to geopolitical changes and security of supply factors. 

The buildout of each cruise ship of this scale is the largest single industrial project in the country, which brings Finland more than a billion euros in added value per year.

With Meyer Turku and the Finnish maritime industry at the forefront of developing energy and environmental technologies that accelerate green transition, their efforts are strengthening Finland's international competitiveness and reputation as a country with a large network of specialized companies for cruise shipbuilding, extraordinary design capability, cutting edge technology, and demanding project management.

Picture: In the picture, first of the Icon Class, Icon of the Seas, on its sea trial before delivery.