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 John Dane III

Read P&O Purchases Sitmar Cruises For $210 Million in Pdf, Flash or Html5 edition of October 1988 Maritime Reporter

Other stories from October 1988 issue

Content

Maritime Reporter

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