P&O Sees Strong Cruise Sector Trading, U.S. Listing In Future

Peninsula and Oriental Steam Navigation Co. said its cruise arm continues to experience excellent trading conditions, with total capacity up 14 percent this year. The cruise division is fully booked at yields consistent on a like-for-like basis with last year's high levels. The outlook for the division next year was "highly positive," with capacity seen increasing by 21 percent, booking 70 percent full for the first half, and yields again good. P&O also said plans were advancing for its U.S. listing next year. Officials said a listing will be sought in the summer or early autumn, once the group's disposal program has been completed.