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THE CREDIT CRUNCH AND SHIPBUILDING
World shipyards have a record order backlog. What effect will the global credit crunch have?

No effect
A slow down in new orders
Cancellation of some existing orders
Cancellation of many exisiting orders

Marine Log

April 8, 2008

Royal Caribbean appoints VP of Newbuildings/h1>

Royal Caribbean Cruises Ltd. (NYSE:RCL) today named long-time maritime executive Christer Schoug as the company's vice president of Newbuildings.

In his position, which is new to the company, Schoug will play a key role in the design and construction of new cruise ships within the Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Cruises and CDF Croisieres de France brands.

Schoug has more than 20 years of experience in the maritime industry, most recently serving as managing director of Stena RoRo AB, a global shipping and ferry company based in Gothenburg, Sweden. Previously, Schoug held a variety of key managerial and executive positions at Scandinavian Ferry Lines, of Helsingborg, Sweden, and Kockum Yards, of Malmo, Sweden. In those positions he was responsible for the construction, renovation and operations of various cargo and cruise ferry ships. Earlier, he served in the Swedish navy, where he was responsible for the maintenance of gas-turbine-powered war ships.

Schoug received a master's degree in naval architecture from Chalmers University of Technology in Gothenburg, Sweden, in 1982.

Schoug will report to Harri Kulovaara, executive vice president of maritime, and he will work in the company's newbuildings office in Miami.

"We are very pleased to have such a well qualified individual join our very experienced team," said Kulovaara. "Christer brings a wealth of experience with him, involving the building and renovation of cruise ferries and cargo ships throughout the world. We look forward to the new perspectives and contributions he will bring to our already successful work in creating the most innovative cruise ship fleet in the world."

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