P&O Plans To Tackle German Cruise Market
September 29, 1999
British shipping group P&O plans to start taking Germans on cruise holidays, citing that market as underdeveloped and with huge growth potential. The company is investing an initial $80.6 million and taking a 51 percent stake in a joint venture cruise company to be formed with privately owned German group Arkona Touristik.
The new company, Aida Cruises, will order two new ships to complement the 1,200 berth Aida. P&O has an option to take full control of the venture once the ships are delivered.
Related News
Oil Spill Contained After Barge Slams Bridge in Galveston
Gulf Intercoastal Waterway Closed After Barge Strikes Bridge in Galveston
Houthis Claim More Ship Attacks, Targetting US Warship and Merchant Vessel
Van Oord Launches Giant Offshore Wind Installation Vessel
Silversea Takes Delivery of New Cruise Ship Silver Ray