US cruiseship owner Royal Caribbean Cruises (RCCL) has finished the first phase of its stock buy-back programme.
It told the Oslo Stock Exchange that it had spent $200m on 2.1m of its shares at $95 each.
The move follows an announcement that it would be buying back $500m-worth by the end of January 2016.
The first deal eaves the company with 217.97m shares outstanding.
RCCL,