Make Way for a New Largest Cruise Company
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LONDON — P&O; Princess Cruises PLC is merging with Miami-based Royal Caribbean Ltd. in a deal that creates the world’s largest cruise ship company.
London-based Princess said last week that the combined company would have 41 ships and 75,000 berths, topping Miami-based Carnival Cruise Lines. A name had not been chosen for the company, which will be worth about $6 billion and be based in Miami, by the Travel section deadline last week.
The merger comes at a difficult time for the industry, which was slumping before the Sept. 11 attacks. Fears about traveling have kept many cruisers home, and increasing security measures has been costly.
-- Associated Press
