Costa Crociere Unit Orders Two New 105,000-Ton Vessels

Costa Crociere S.p.A., a unit of Carnival Corp. has signed a letter of intent with Italian shipyard Fincantieri Cantieri Navali S.p.A. for the construction of two 105,000-ton vessels for delivery in late 2003 and late 2004. The 2,720-passenger ships, which will be built at Fincantieri's Sestri shipyard in Genoa, will cost approximately $400 million each. This latest agreement renews the association between Costa and Fincantieri, which began with the construction of the Costa Classica and Costa Romantica in 1992 and 1993, respectively.