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Oceania Cruises announced that it has entered into a memorandum of agreement with Italy’s Fincantieri shipyard that calls for the construction of two 1,260-guest, 65,000-ton ships to be delivered in the fall of 2010 and summer of 2011. The agreement includes an option for a third vessel to be delivered in 2012. The contract price for each vessel is $500 million dollars.

“This new class of elegant, mid-size ships will define upper-premium cruising for years to come and demonstrates our commitment to providing our guests and travel agent partners with an extraordinary onboard experience. We have elevated the onboard product in every area and as a result, guests will be able to dine in an unprecedented number of gourmet restaurants, and revel in the luxury of accommodations that will set a new standard in terms of size, spaciousness and comfort,” stated Frank Del Rio, Chairman and CEO of Oceania Cruises. These new ships have been designed with all the signature elements that guests and travel agents cherish, and the décor will be imbued with the same warmth and charm that the Regatta-Class is renowned for. Signature public spaces will include the Martinis, Horizons, The Patio, and a Grand Staircase that sweeps up both sides of the lobby. Public areas and accommodations will include rich wood paneling and granite accents, opulent furnishings and a museum quality art collection that will include many rare nautical antiques.

The design specifications for the Oceania-Class call for the vessels to be 825 feet long, 105 feet wide, a draft of 23 feet, and accommodate 1,260 guests on 9 guest decks. The ships will feature 630 staterooms and suites that are on average, 50% larger than the Regatta-Class; 96% of all guest accommodations will feature sweeping ocean views and 93% will boast oversized, private teak verandas. The ships will be powered by diesel-electric engines and operate with twin screw propellers, with a service speed of 20 knots. They will be equipped with two bow thrusters to enhance maneuverability, and will also be “green ships” employing the most advanced environmental systems and technology.