Shipyard fire damages Diamond Princess

NAGASAKI, Japan -- A major fire at the Mitsubishi Heavy Industries shipyard here caused "significant" damage to the Diamond Princess, which is under construction there.

P&O Princess Cruises said there were no casualties in the fire, but the company had not yet assessed the extent of the damage or determined any delivery delays. The ship is scheduled for a May delivery.

P&O Princess added that it has contractual arrangements and insurance policies in place that should ensure "no significant economic impact" to the company or its 2003 earnings.

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