Royal Caribbean Cruises Ltd. Board Elects New Member

The board of directors of Royal Caribbean Cruises Ltd. has elected shipping industry veteran Morten Arntzen as its newest member. Arntzen replaces retiring board member Arvid Grudekjoen, and will serve on the board’s Environment, Safety and Security Committee.

Mr. Arntzen has been involved in the global shipping industry since 1979, and was appointed president and chief executive officer of Overseas Shipholding Group, Inc. in January 2004. That company is a market leader in global energy transportation services and owns and operates an international and U.S. flagged fleet of 157 vessels (120 operating vessels and 37 under construction) that transport crude oil, petroleum products, liquid natural gas and dry bulk commodities throughout the world.

Mr. Arntzen also serves as chairman of the board of OSG America (NYSE: OSP), the publicly listed, U.S. flag shipping master limited partnership formed by Overseas Shipholding Group, Inc.
Before joining Overseas Shipholding Group, Arntzen was Chief Executive Officer of American Marine Advisors, Inc., a U.S.-based merchant banking firm specializing in maritime industry merger and acquisition advisory work and corporate restructuring for a global client base.

Previously, Mr. Arntzen ran the Global Transportation Group for Chase Manhattan Bank. While in that position he helped the bank pioneer the introduction of shipping companies to the high yield market and assisted in making the bank the largest arranger of shipping loans in the world.

Mr. Arntzen holds a Bachelor of Arts degree from Ohio Wesleyan University and a Master of International Affairs degree from Columbia University. He has been a board member of Overseas Shipholding Group, Inc. since 2004. He also is a board member of the Seaman’s Church Institute in New York and New Jersey.