Kleven Maritime, a Norwegian shipbuilder, has signed an agreement with Hurtigruten Cruises, an exploration travel company, to build up to four expedition-style ships.
The ships will be delivered in 2018 and 2019.
Hurtigruten placed the orders to meet the growing demand for adventure travel.
Adventure tourism is estimated to be worth $263bn, and has seen a growth of 195% in around two years, reported Marinelink.com.
This deal is the largest investment made by Hurtigruten in its 120-year history.
The vessels will be constructed at the Kleven Verft yard in Ulsteinvik, Norway.
Presently, Hurtigruten has a fleet of 14 ships, which comprise four expedition-style ships constructed at Kleven Verft.
The vessels will be designed to undertake expedition voyages in the Arctic and Antarctic regions.
The ships will be fitted with environmentally-friendly technology in order to cut down carbon emissions.
They will be designed and developed by Rolls-Royce, with help from Espen Øino, a Norwegian ship designer, and constructed by Kleven, reported marinelink.com.
Hurtigruten CEO Daniel Skjeldam said: "This is a milestone for us and expresses how confident we are in the growth of the global market for adventure tourism.
"We intend to build the most formidable expedition ships the world has seen."
Kleven CEO Ståle Rasmussen said: "This is one of the largest orders in the history of Kleven. The fact that it is Hurtigruten placing the order, makes the project particularly exciting."
It has been over ten years since Hurtigruten last placed an order for the construction of a new ship.
Three of the ships in the Hurtigruten fleet have been built by Kleven. The last ship built by this shipyard was MS Finnmarken in 2002.
Image: An artist’s impression of the expedition ship to be built by Kleven. Photo: courtesy of Kleven Maritime AS.