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Key Takeaways
- Oriental Land Co. signed a licensing deal with Disney Enterprises and plans to invest about $2 billion in a Tokyo-based cruise ship.
- Construction is expected to begin in fiscal 2025, with the first cruise expected to launch in fiscal 2028.
- Disney, which currently has five ships in operation, is undergoing a $60 billion, 10-year expansion of its theme parks and cruise operations.
Tokyo Disneyland operator Oriental Land Co. has agreed to invest about 330 billion yen ($2.05 billion) to launch a Tokyo-based cruise ship, the company announced Tuesday.
Ship construction is expected to begin in fiscal 2025, with the first cruises expected to set sail in fiscal 2028. Oriental Land signed a licensing agreement with The Walt Disney Co. (DIS)’s Disney Enterprises and plans to model the ship after the Wish, the largest ship in Disney’s fleet, according to reports.Â
Disney Currently Has Five Cruise Ships in Operation, Adding More
Disney, which began cruising in 1998 in the U.S., currently has five ships in operation, with services also expected to launch in Singapore next year. The newest addition is part of the company’s $60 billion, 10-year expansion of its theme parks and cruise operations.
Shares of Disney were little changed as market opened Tuesday. They are up almost 8% this year.