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Finnish veteran ship builder confident third Royal Caribbean Oasis class ship will be built

In:
26 Nov 2012

Veteran shipbuilder Martin Saarikangas is confident that Royal Caribbean's third Oasis-class ship will be built at STX's Turku shipyard despite recent reports of an impasse between Royal Caribbean and the Finnish government in regard to financing the project.

Saarikangas commented, "I take the silence as a positive signal. If history is correct, there is sure to be something pending.  The situation is not hopeless."

Finnish Economic Minister Jan Free Mount and Defense Minister Carl Haglund refused to comment on the financing of the project by Finnish state-owned specialized credit institution Finnvera.

The newspaper Turun Sanomat reported on Friday that the Finnish government's economic policy rejected a proposal for funding.  Royal Caribbean is said not to have given up, but is still searching for a financial solution.

The funding for a ship like this is critical to getting the project a green light.  Ship building requires huge loans and in turn, guarantors for the line.  In most cases, the country foots the bill (and the risk) with Finnvera the lynchpin to the third Oasis-class ship being built or not.

Royal Caribbean announced in October that it was pursuing the possibility of ordering a third Oasis-class ship.