Plans to build a third cruise ship by Royal Caribbean in the STX Turku shipyard in Finland are reportedly frozen due to the fact that the funding is still completely unresolved
On Thursday, the Finnish government rejected Royal Caribbean's proposed package of financing due to the fact that the state does not want to act as a guarantor for the loan capital, according to the newspaper "Turun Sanomat."
Negotiations for financing of the new ship will continue. Other options include searching for other sources of financing. One option is that Royal Caribbean will pay for a larger chunk of the purchase price.
The value of the proposed order by Royal Caribbean is about one billion Euros. A ship order like this can provide over 12,000 ship building jobs in Turku.
