Miami-based cruise-line company Royal Caribbean Cruises (NYSE:RCL) announced in a press release Thursday that it has arranged the purchase of a third Oasis-class cruise ship from French shipyard STX France.

The deal, which the company said in October will  cost less than the $1.4 billion price tag on each of its prior two Oasis-class ships, is expected to deliver  the vessel in 2016. The new ship will join Fort Lauderdale-based sister ships Oasis of the Seas and Allure of the Seas, the largest cruise ships in the world, that launched in 2009 and 2010, respectively.

Royal Caribbean CEO and President Richard D. Fain expressed his enthusiasm for the deal in the release: "These ships have consistently generated outstanding guest satisfaction ratings and continue to produce superior financial results. We are thrilled to be adding a sister to this extraordinary class of vessels at a compelling price."

The deal, which is subject to financing and other requirements, will also transfer  Pullmantur's ship Atlantic Sun. STX France has also offered a one-year option to deliver a fourth Oasis-class ship in 2018 for a similar price.