Two arms of financial services giant Capital Group have built a combined 20.8% stake in Royal Caribbean Group as they snapped up shares in a recovering cruise market.

Their positions in the world’s second-largest owner of cruise ships could put them at the top of the company’s shareholder rolls, and they are worth a combined $4.53bn at today’s prices for Royal Caribbean shares.

Capital International Investors has doubled its holdings in the shipowner, with records showing that it has built a stake worth more than $2.59bn