MIAMI (AP) - British business mogul Richard Branson says the new Virgin Cruises line will set sail from PortMiami in 2020.

MIAMI (AP) British business mogul Richard Branson says the new Virgin Cruises line will set sail from PortMiami in 2020.

Branson and Virgin Cruises CEO Tom McAlpin announced Tuesday the signing of a letter of intent with Italian shipbuilding company Fincantieri for three new mid-size ships that will feature 1,430 cabins to host 2,800 guests.

The first ship will be delivered in 2020. The other two ships will be delivered in the two following years.

Virgin Cruises plans to offer a range of seven-day Caribbean cruises sailing out on Sundays.

McAlpin said the brand would go for smaller, "more boutique" vessels to achieve an intimate experience, but did not offer additional details.

The announcement, which featured Branson arriving by helicopter, was made at the new downtown Perez Art Museum Miami.