Disney Cruise Line Thursday announced it is building two new ships, which will be more than 1,000 feet long and more 200 feet high.

The announcement was made by Walt Disney CEO Bob Iger in Chicago at the annual meeting of company shareholders.

Design plans, ship names and itineraries for the new vessels are still in development but are expected to feature the company's signature activities, shows, decor and venues all themed on Disney characters and story lines.

“We pride ourselves on the unforgettable vacation experiences we deliver to our guests each and every day, and the expansion of our Disney fleet will allow us to create even more magical memories for families at sea and in incredible cruise destinations around the world,” said Iger in a statement.

Both ships will be built by the Meyer Werft shipyard in Germany.  Each is planned to have about 1,250 guest staterooms -- slightly larger than Disney's newest ships, Disney Dream, which launched in 2011 and Disney Fantasy, launch in 2012. The company has two other ships as well, Disney Magic, and its first ship, Disney Wonder, which launched in 1998.

The first ship is expected to be completed in 2021 and the second in 2023, Disney Cruise Line said.