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 May, 2003

                          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-_____.]

                                     Contact:  Lynn Martenstein or Dan Mathewes
                                               (305) 539-6570 or (305) 539-6153

                                     For Immediate Release


MIAMI - (May 6, 2003) - Royal Caribbean Cruises Ltd. (NYSE: RCL; Oslo) announced
today the  pricing of a public  offering  of $250  million  of its 8.00  percent
Senior Notes due 2010 at 99.339 percent of the principal amount. The offering is
lead-managed  by Goldman,  Sachs & Co. and Citigroup as the joint  book-runners,
with Banc of America Securities LLC, Scotia Capital, Wachovia Securities, Credit
Suisse First Boston and Morgan Stanley as co-managers.

Net  proceeds  from  this  offering  will  be used by the  Company  for  general
corporate  purposes,  including capital  expenditures.  The securities are being
offered as part of a shelf registration  statement previously filed and declared
effective with the Securities and Exchange Commission.

Copies of the  prospectus  relating to the offering can be obtained  from either
Goldman,  Sachs & Co., 85 Broad Street,  New York, NY 10004 (212)  902-1000,  or
Citigroup  Global Markets Inc., 390 Greenwich  Street,  New York, NY 10013 (212)



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:  May 7, 2003                      By: /s/ BONNIE S. BIUMI
                                            Bonnie S. Biumi
                                            Acting Chief Financial Officer