10/26/2012 08:34 am ET

Royal Caribbean Plans Third Oasis-Class Cruise Ship

Royal Caribbean has confirmed its plans to develop a third Oasis-class ship that could potentially carry more than 5,000 passengers.

The new vessel, which the cruise line hopes to have in the water by 2016, would join the existing Oasis of the Seas and Allure of the Seas, both of which have space for 5,400 guests and rate as the largest passenger ships in the world.

"The Oasis of the Seas and Allure of the Seas have proven themselves to be exceptionally attractive ships by generating the highest guest satisfaction ratings in the fleet coupled with very compelling financial returns," Chairman and CEO Richard D. Fain said during an earnings report.

Building the new mega-ship could cost €1 billion ($1.29 billion), according to at least one report.

While the vessel will be a sister ship to Oasis and Allure, that doesn't mean it will be exactly the same.

The editor in chief of, Carolyn Spencer Brown, tells HuffPost Travel that the new ship could give Royal Caribbean the opportunity to try new restaurant and entertainment concepts as well as new routes -- while emphasizing that any guesses about specifics at this point are pure speculation.

The one thing that can be said for certain about the Oasis-class vessels?

"The ships have been a massive success," Brown says.

A Look at Oasis of the Seas