Washington, D.C. 20549

                        REPORT OF FOREIGN PRIVATE ISSUER
                     PURSUANT TO RULES 13a-16 OR 15d-16 OF
                      THE SECURITIES EXCHANGE ACT OF 1934

                         For the month of October, 2002

                          ROYAL CARIBBEAN CRUISES LTD.

                    1050 Caribbean Way, Miami, Florida 33132
                    (Address of principal executive offices)

     [Indicate  by check mark whether the  registrant  files or will file annual
reports under cover Form 20-F or Form 40-F.]

        Form 20-F       x                      Form 40-F
                      ------                                   ------

     [Indicate  by  check  mark  whether  the   registrant  by  furnishing   the
information contained in this Form is also thereby furnishing the information to
the Commission  pursuant to Rule 12g3-2(b) under the Securities  Exchange Act of

        Yes                                    No                x
                      ------                                   ------

     [If  "Yes" is  marked  indicate  below  the  file  number  assigned  to the
registrant in connection with Rule 12g3-2(b): 82-_____.]

For Immediate Release

                 Royal Caribbean Cruises Ltd. (Royal Caribbean)


Miami - October 25th,  2002 -- Royal  Caribbean  Cruises Ltd.  (NYSE,  OSE: RCL)
today noted the decision announced earlier by the Board of P&O Princess Cruises,
withdrawing its recommendation of the merger agreed between the two companies in
November 2001.

Richard Fain, chairman and chief executive of Royal Caribbean,  said:  "Clearly,
we regret  that the Board of P & O Princess  is taking  this  action.  We remain
today as  convinced  as ever that the  pairing of our two  companies  would be a
great partnership and a great business.  Ultimately, it is the shareholders of P
& O Princess who must decide what is best for their company."

As stipulated  under the terms of the merger,  the  implementation  agreement of
November 2001 has now been  terminated and P & O Princess has  accordingly  paid
Royal Caribbean the agreed break fee of $62.5 million.  Both companies have also
executed  mutual  releases and the joint venture  between them, also agreed upon
last November,  will be terminated on January 1st 2003,  provided that there has
been no change of control of either company prior to that date.


The Maitland Consultancy Limited
+44 (0) 20 7379 5151
Amy Holmes
+44 (0)7774 250811
Duncan Campbell-Smith

Goldman Sachs International
+44 (0) 20 7774 1000
Richard Campbell-Breeden
Basil Geoghegan

Royal Caribbean
+1 305 539 6570
Lynn Martenstein
+1 305 539 6153
Erin Williams


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                        ROYAL CARIBBEAN CRUISES LTD.

Date:  October 25, 2002                 By: /s/ BONNIE S. BIUMI
                                        Bonnie S. Biumi
                                        Acting Chief Financial Officer