Finnvera’s buyer credit guarantee to Royal Caribbean Group enables building of Icon 4 cruise ship in Turku

Finnvera has granted Royal Caribbean Group a buyer credit guarantee that enables building of Icon 4 cruise ship in Meyer Turku shipyard. Icon 4 is scheduled to be delivered in 2027. The amount of the guarantee is the US equivalent of approximately EUR 1.9 billion.

Finnvera announced in May 2025 that the parties had reached a negotiated agreement on the terms of financing for the Icon 4 cruise ship. This allowed Royal Caribbean Group to finalise the order. The project will bring the 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. 

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), with the third Icon ship – Legend of the Seas – scheduled to sail next year (Summer 2026). Altogether, Turku shipyard has built 25 ships for Royal Caribbean Group since mid-1990s.

The buildout of each cruise ship of this scale is the largest single industrial project in the country, employing approximately 13,000 people at Meyer Turku and in the shipyard’s network 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.