Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Hanrahan Daniel J
2. Date of Event Requiring Statement (Month/Day/Year)
02/23/2005
3. Issuer Name and Ticker or Trading Symbol
ROYAL CARIBBEAN CRUISES LTD [RCL]
(Last)
(First)
(Middle)
ROYAL CARIBBEAN CRUISES LTD., 1050 CARIBBEAN WAY
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Celebrity Cruises
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

MIAMI, FL 33132
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 13,166
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Purchase Common Stock   (1) 05/21/2009 Common Stock 9,000 $ 41.625 D  
Option to Purchase Common Stock   (1) 05/21/2009 Common Stock 8,500 $ 41.625 D  
Option to Purchase Common Stock   (1) 02/04/2010 Common Stock 20,000 $ 48 D  
Option to Purchase Common Stock   (2) 03/03/2010 Common Stock 2,000 $ 28.7813 D  
Option to Purchase Common Stock   (3) 03/17/2014 Common Stock 9,900 $ 40.06 D  
Option to Purchase Common Stock   (4) 03/17/2014 Common Stock 901 $ 40.06 D  
Option to Purchase Common Stock   (5) 02/10/2015 Common Stock 6,694 $ 47.925 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Hanrahan Daniel J
ROYAL CARIBBEAN CRUISES LTD.
1050 CARIBBEAN WAY
MIAMI, FL 33132
      President, Celebrity Cruises  

Signatures

/s/ Bradley Stein as Attorney-in-Fact for Daniel J. Hanrahan 03/01/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Immediately.
(2) Exercisable on 3/3/2005.
(3) 2,475 shares are exercisable on each of 3/17/2005, 3/17/2006, 3/17/2007 and 3/17/2008.
(4) 226 shares are exercisable on 3/17/2005 and 225 shares are exercisable on each of 3/17/2006, 3/17/2007 and 3/17/2008.
(5) 1,674 shares are exercisable on each of 2/10/2006 and 2/10/2007 and 1,673 shares are exercisable on each of 2/10/2008 and 2/10/2009.

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