P&O Purchases Sitmar Cruises For $210 Million

Peninsular & Oriental Steam Navigation Co. (P&O) recently purchased Los Angeles-based Sitmar Cruises for a reported $210 million.

With the purchase of Sitmar Cruises, P&O, which already operates a fleet of six ships through its Los Angeles-based Princess Cruises subsidiary, will now be able to form one of the largest cruise fleets in the world. P&O's Princess operates the 1,702-passenger Canberra, Island Princess, Pacific Princess, Royal Princess, Sea Princess and Sun Princess.

At present, Sitmar Cruises operates the Fairsea, Fairsky, Fairstar and Fairwind. The ship operator has two 1,800-passenger, 70,000-grt liners on order at Fincantieri-Trieste, and one 63,000-grt cruise ship on order at Alsthom's Chantiers de l'Atlantique.

By 1991, without any new orders or fleet changes, the combined P&O/Sitmar fleet will consist of 13 ships offering more than 15,000 passenger berths.

Maritime Reporter Magazine, page 9, Oct 1988

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Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.