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afloat. In 1997, market watchers will undoubtedly look to the Far East as the industry's new growth arena, as investors anxiously await positive returns from the risky newbuild projects that are currently plying the oceans of the world.

Stay tuned to MRJENs cruise ship reports throughout this year and please forward any news leads to Bridget

Murphy, [email protected]. 1996 was a banner yjar for the cruise sector. Ship order- ing activity maintained the peak levels set a few years ago, consolidation of owning lines continued, and sector pow- ers fought to establish and re-establish themselves via

European and Asian ventures and full-scale acquisitions.

Plans for thj emergence of a new cruise interest in the

U.S. progressed at a mighty speed, and in Europe, careful- ly placed cruise ship repair contracts helped yards stay

February, 1997

MARITIME

REPORTER

AND

ENGINEERING NEWS'