Are IMO regulations tough enough to keep national governments from imposing stricter measures?

Only partly
No--expect a slew of regional regs!

Marine Log

June 11, 2007

Carnival exercises option at Fincantieri

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) says it has exercised its option for a new 86,000-ton vessel for Holland America Line.

The 2,100-passenger ship will be built by Italian shipbuilder Fincantieri at its Marghera shipyard at an estimated all-in cost of Euro 425 million. Delivery is scheduled for fall 2010.

Micky Arison, Carnival Corporation & plc chairman and CEO, said, "Holland America Line is performing very well and its growth is consistent with our business strategy for the premium segment of our business which seeks to capitalize on the increasing affluence of the baby boomer generation. The exercise of this option is another opportunity to strengthen Holland America's position as the leading premium cruise brand in the world."

Stein Kruse, Holland America Line's president and CEO, noted that the new vessel will be a sister to the Eurodam, already under construction at Fincantieri and due to debut in summer of 2008. Eurodam's size has been increased slightly since originally announced and both ships will have a lower-bed capacity of 2,100.

Kruse added that the two ships, to be the largest in Holland America's fleet, will maintain the brand's commitment to mid-sized vessels, larger staterooms, and richly appointed dining areas, lounges and other public rooms.

"The addition of these two ships represents a 23 percent increase in our capacity over the 2008 through 2010 time period and will allow us to continue our premium leadership position and achieve a greater share of the growing cruise market," he said.

The new vessel will continue the evolution of the Holland America Line brand with features that will include a topside 144-seat specialty restaurant, a diversity of live music and entertainment facilities, outside-view glass elevators at mid-ship, and an expanded Greenhouse Spa and Salon with thermal suites and hydro-pool.

Of the new ship's 1,050 staterooms, 85 percent will offer an ocean view and 67 percent will feature private verandahs.

With today's announcement, Carnival Corporation & plc has 17 new ships on order, 12 of which are being constructed by Fincantieri.