Ocean PrincessNorwegian Cruise Line Holdings Ltd. today announced a definitive agreement with Princess Cruises, Ltd. to purchase Ocean Princess for its newly acquired Oceania Cruises brand.

The 684-passenger ship joins Oceania Cruises' trio of award-winning sister ships Insignia, Regatta and Nautica. The new addition will be named Sirena.

Upon delivery in March 2016, Sirena will immediately undergo a 35-day, $40 million refurbishment in Marseille, France to elevate the ship to the Oceania Cruises' standard of elegance.

Drawing on the recent transformation of Insignia as inspiration, the ship will feature Oceania Cruises' renowned specialty dining restaurants, Toscana and Polo Grill, along with more recent additions to the fleet such as Baristas and the cook-to-order grill at Terrace Cafe. The ship will welcome her first guests in late April 2016.

The addition of Sirena, along with the recently completed refurbishment of Insignia, Nautica and Regatta, demonstrates Oceania Cruises' unwavering commitment to mid-size ships and destination orientated cruising.

With Sirena, Oceania Cruises will expand the number and diversity of destination-rich itineraries offered, appealing to both seasoned world travelers and passionate cruisers.

"The acquisition of Sirena provides measured capacity growth based on the proven platform of Oceania Cruises' highly regarded mid-size ships," said Kevin Sheehan, president and chief executive officer of Norwegian Cruise Line Holdings Ltd., parent company of Oceania Cruises.

"Our belief in the Oceania Cruises brand and our commitment to its growing base of loyal guests were the rationale behind our decision to bring Sirena into the fleet."

"The addition of Sirena opens up an entire array of new itinerary options for Oceania Cruises as we think about our deployment strategy," added Kunal S. Kamlani, president and chief operating officer of Oceania Cruises.

"The award-winning guest experience delivered on our ships, coupled with a collection of innovative itineraries that cater to new markets, will combine for an alluring siren song for both our current and future guests."