Regent Seven Seas Cruises has placed an order for a new 738-passenger vessel to be called Seven Seas Explorer.

Scheduled for delivery in the summer of 2016, the Explorer will be Regent Seven Seas’ first new ship since the Seven Seas Voyager made its debut in 2003.

It will be the cruise line’s largest ship, at 54,000 gross tons, and will be constructed by Italian shipbuilder Fincantieri for about $450 million.

“We strongly believe that now is the right time to expand our fleet, as our loyal guests have asked for a greater array of itineraries and our travel partners have proven that there is pent-up demand for a new Regent ship,” said Kunal Kamlani, Regent Seven Seas’ chief executive.

Tillberg Design, RTKL Associates and ICrave are designing the all-suite ship.

Suites will range in size from 300 square feet to 1,500 square feet, and each will have a balcony.

The ship will have six open-seating restaurants, Regent’s signature nine-deck atrium, a two-story Explorer Theater, three boutiques and a large Canyon Ranch spa.