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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
Royal Caribbean Cruises Ltd.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
V7780T103
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(CUSIP Number)
April 23, 2004
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
PERSONS WHO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM ARE
NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL
NUMBER.
SEC 1745 (12-02)
CUSIP No. V7780T103 13G Page 2 of 6
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Cruise Associates, a Bahamian general partnership
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
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(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Bahamas
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Number of 5. Sole Voting Power
Shares 33,281,900
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Beneficially 6. Shared Voting Power
Owned by 0
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Each 7. Sole Dispositive Power
Reporting 33,281,900
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Person With: 8. Shared Dispositive Power
0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
33,281,900
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11. Percent of Class Represented by Amount in Row (9)
16.8% based on the number of shares outstanding as reported by the
issuer in its Form 6-K for the period ended March 31, 2004.
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12. Type of Reporting Person (See Instructions)
PN
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CUSIP No. V7780T103 13G Page 3 of 6
ITEM 1(a) NAME OF ISSUER:
Royal Caribbean Cruises Ltd.
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1050 Caribbean Way
Miami, Florida 33132
ITEM 2(a) NAME OF PERSON FILING:
Cruise Associates, a Bahamian general partnership
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
c/o CIBC Trust Company (Bahamas) Ltd.
Post Office Box N-3933
Goodman's Bay Corporate Centre
Ground Floor
Nassau, Bahamas
ITEM 2(c) CITIZENSHIP:
Bahamas
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.01 per share
ITEM 2(e) CUSIP NUMBER:
V7780T103
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO Sections 240.13d-1(b)
OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15
U.S.C. 78c);
(c) [ ] Insurance company as defined in section 3(a)(19)
of the Act (15 U.S.C. 78c);
(d) [ ] Investment company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e) [ ] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with ss.240.13d-1(b)(1)(ii)(G);
CUSIP No. V7780T103 13G Page 4 of 6
(h) [ ] A savings associations as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition
of an investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP
(a) AMOUNT BENEFICIALLY OWNED:
33,281,900
(b) PERCENT OF CLASS:
16.8% based on the number of shares outstanding as reported by
the issuer in its Form 6-K for the period ended March 31,
2004.
(c) NUMBER OF SHARES AS TO WHICH THE PERSON HAS:
(I) SOLE POWER TO VOTE OR TO DIRECT THE VOTE
33,281,900
(II) SHARED POWER TO VOTE OR TO DIRECT THE VOTE
0
(III) SOLE POWER TO DISPOSE OR DIRECT THE DISPOSITION OF
33,281,900
(IV) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION
OF
0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not Applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON
Not Applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY OR CONTROL PERSON
Not Applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not Applicable.
CUSIP No. V7780T103 13G Page 5 of 6
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not Applicable.
ITEM 10. CERTIFICATION
Not Applicable.
CUSIP No. V7780T103 13G Page 6 of 6
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: April 30, 2004
CRUISE ASSOCIATES, a Bahamian general partnership
By: CET Investment Group, a general partner
By: CIBC Trust Company (Bahamas) Limited, as
Trustee of Settlement T-577, a general partner
By: /s/ Christine Green
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Authorized Signatory
By: /s/ Kim L. Storr
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Authorized Signatory