At Royal Caribbean Cruises Ltd., along with our subsidiaries and affiliates (“RCL” or the “Company”), we work diligently to build and maintain business relationships with Suppliers who share our commitment to conduct business in compliance with the law and in accordance with the highest ethical standards. We manage our global operations with honesty, fairness, integrity, and trustworthiness and we expect and encourage our Suppliers to do the same.
These Supplier Guiding Principles describe the minimum standards RCL expects of Suppliers doing business with the Company. They provide general guidelines for business conduct and are designed to complement similar standards and policies adopted by our Suppliers.
We encourage our Suppliers to not only use these Supplier Guiding Principles to guide their actions but to find ways to continuously improve upon them throughout their organization. The long-term success of RCL is greatly influenced by our joint ability to conduct business with one another in the most ethical manner.
The guidelines outlined in the Supplier Guiding Principles do not supersede or replace any rights or obligations established in any written agreements, policies or guidelines we may have with our Suppliers. For purposes of this document “Supplier” means any individual, company, or other entity that sells goods or services to RCL.
Employment and Human Rights
RCL is committed to observing fair labor practice and treating employees with dignity and respect while providing a safe working environment. We rely on our Suppliers to make the same commitments in their business operations and expect them to:
• Provide a safe and healthy workplace.
• Prohibit all forms of forced labor and child labor.
• Ensure compliance with applicable wage and hour laws.
• Promote a diverseworkplace free from harassment, discrimination and abuse.
• Respect legal rights on freedom of association and collective bargaining.
Ethical Business Conduct
Our Company’s Code of Business Conduct and Ethics describes the values and ethical standards RCL expects of its employees. While no set of guidelines can cover every situation that may arise, it is our responsibility to exercise proper conduct and good judgment at all times. We count on our Suppliers to embrace these same principles and expect them to:
• Comply with all applicable laws and regulations.
• Not engage in bribery, corruption and other fraudulent practices.
• Support fair and open competition.
• Make impartial and objective business decisions in connection with their engagement with RCL. This includes disclosing any personal or financial relationship with an RCL employee involved in the Supplier’s business arrangement with RCL.
• Protect RCL’s confidential information including its intellectual property, trade secrets and other proprietary information in their possession.
• Maintain accurate books and records in accordance with applicable laws and accounting practices.
Protection of our Environment
RCL is committed to protecting the environment and acting in a responsible manner to reduce impact on our natural resources.
We expect our Suppliers to:
• Comply with all applicable environmental laws and regulations.
• Use energy and natural resources efficiently.
• Support activities that reuse and recycle materials.
• Continually look for ways to minimize their environmental impact and improve their environmental performance.
RCL is committed to providing a safe and secure environment for its guests and employees. As a primary business objective, the Company ensures that effective safety and security standards are practiced at all times.
We expect our Suppliers to:
• Comply with all applicable safety standards and regulations.
• Implement safety and security practices and programs that reduce the number of incidents.
Reporting Concerns or Violations
Suppliers are urged to contact RCL with any questions or concerns about the right course of action or applicable laws, rules, regulations, and these principles. Suppliers must promptly report known or suspected illegal and unethical activities involving RCL business.
To seek guidance or report concerns Suppliers may reach out to any of the following RCL contacts:
• Supply Chain Management – Supplier relationship manager or supervisor.
• Global Compliance and Ethics Group at firstname.lastname@example.org.
• Compliance and Ethics AWARE Hotline:
RCL created the Compliance and Ethics AWARE (“Address Wrongdoing As Responsible Employees”) Hotline to provide a resource for confidential and anonymous reporting of concerns or violations. The hotline is operated by a third-party provider and is available 24 hours a day, 7 days a week. Suppliers may choose to contact the AWARE Hotline through the following methods:
Certain statements in this release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements regarding revenues, costs and financial results for 2020 and beyond. Words such as “anticipate,” “believe,” “could,” “driving,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” “considering”, and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and has had and will continue to have a material adverse impact on our business and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs associated with protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; emergency ship repairs, including the related lost revenue; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; and the unavailability or cost of air service.
In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. It is not possible to predict or identify all such risks.
More information about factors that could affect our operating results is included under the caption “Risk Factors” in our most recent quarterly report on Form 10-Q, as well as our other filings with the SEC, and the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent annual report on Form 10-K, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.