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 *
  Bauer Rudzki Lisa
2. Date of Event Requiring Statement (Month/Day/Year)
09/24/2012
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)
EVP, Global Sales&Mkting, RCI
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 (1) 16,810
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 (2)   (3) 03/17/2014 Common Stock 9,165 $ 40.06 (4) D  
Option to Purchase Common Stock (5)   (3) 02/10/2015 Common Stock 5,708 $ 47.925 (4) D  
Option to Purchase Common Stock (5)   (3) 02/06/2016 Common Stock 8,834 $ 44.41 (4) D  
Option to Purchase Common Stock (5)   (3) 02/01/2017 Common Stock 11,399 $ 45.295 (4) D  
Option to Purchase Common Stock (5)   (3) 02/11/2018 Common Stock 17,573 $ 38.305 (4) D  
Option to Purchase Common Stock (5)   (3) 09/03/2018 Common Stock 11,136 $ 28.895 (4) D  
Option to Purchase Common Stock (6)   (7) 02/10/2019 Common Stock 11,136 $ 7.265 (4) D  
Option to Purchase Common Stock (6)   (8) 02/08/2020 Common Stock 11,311 $ 25.16 (4) D  
Option to Purchase Common Stock (6)   (9) 02/08/2021 Common Stock 8,080 $ 46.18 (4) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Bauer Rudzki Lisa
ROYAL CARIBBEAN CRUISES LTD.
1050 CARIBBEAN WAY
MIAMI, FL 33132
      EVP, Global Sales&Mkting, RCI  

Signatures

Carrie Levine Schwartz, Attorney-in-Fact for Lisa Bauer Rudzki 10/04/2012
**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) Includes shares of common stock underlying restricted stock units granted to the reporting person under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, which vest as follows: 2,687 on 2/8/13; 1,657 on 2/15/2013; 2,685 on 2/8/14; 1,657 on 2/15/2014; 1,657 on 2/15/2014; 947 on 2/8/15; 1,657 on 2/15/2015 and 1,656 on 2/15/2016.
(2) The reporting person was granted the option under the Royal Caribbean Cruises Ltd. 1995 Incentive Stock Option Plan.
(3) Immediately.
(4) Represents the average of the high and low prices of the issuer's common stock on the NYSE on the date of the grant.
(5) The reporting person was granted the option under the Royal Caribbean Cruises Ltd. 2000 Stock Award Plan.
(6) The reporting person was granted the option under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan.
(7) The option is exercisable as follows: 5,568 shares are exercisable immediately and 5,568 shares are exercisable on 2/10/2013.
(8) The option is exercisable as follows: 3,771 shares are exercisable immediately and 3,770 shares are exercisable on each of 2/8/2013 and 2/8/2014.
(9) The option is exercisable as follows: 2,020 shares are exercisable immediately and 2,020 shares are exercisable on each of 2/8/2013, 2/8/2014 and 2/8/2015.
 
Remarks:
EXHIBIT LIST: Exhibit 24: Limited Power of Attorney for Section 16 Reporting Obligations

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