BY JERRY BROWN
LONDON -- Princess Cruises said increased profits in 1996
prompted it to move forward with the construction of a fifth Grand
Class ship, which will join the fleet in 1999.
As reported, the Ocean Princess will cost $300 million and carry
1,950 passengers.
The expenditure brings the line's recent investment in new ships
to $1.6 billion.
It will be a sister to the Sun Princess, introduced in 1995; the
Dawn Princess, which will enter service next month, and the Sea
Princess, scheduled for delivery in 1998. The other Grand Class
ship, the Grand Princess, will be positioned in Europe for its
inaugural season.
Princess president Peter Ratcliffe announced the new build here
along with the 1996 financial statement of the parent P&O Line,
which showed a $250 million profit, up from $175 million the year
before.
Ratcliffe said that the Ocean Princess would be built at the
Fincantieri Shipyard in Italy.
The vessel will be deployed in the Caribbean and Alaska, he
said.