Royal Caribbean Shoots for Ultra-Luxury

Raising the stakes in the effort to claim bragging rights to be No. 1, Royal Caribbean Cruise Lines announced today that it has ordered what will be the world's largest and most expensive cruise ship ever, under the project name "Genesis."

Set for a Fall 2009 delivery, the ship will house 5,400 guests and will cost an estimated $1 billion to build by Finnish shipbuilder Aker Yards.

"It is exhilarating to take such a giant step into the future," said Royal Caribbean chairman and CEO Richard Fain, in a statement. "We are fortunate to have such gifted collaborators as Aker Yards, and such valued supporters and advisors as our guests and trade partners. Project Genesis truly is a remarkable ship.”

Yrjo Julin, president of Aker Yards Cruise and Ferries, estimates Project Genesis will take 5,800 man-years to complete. Aker Yards has delivered 11 ships to Royal Caribbean over the last four decades.