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Old October 1st, 2002, 01:11 PM
Michael Sinn Michael Sinn is offline
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Join Date: Aug 2000
Posts: 370
Default Diamond Princess Fire

LONDON -(Dow Jones)- P&O Princess Cruises said Tuesday that the Diamond Princess ship has suffered a major fire in the shipyard.

The Diamond Princess is currently under construction at the Mitsubishi Heavy Industries shipyard in Nagasaki, Japan and is scheduled for delivery on May 31, 2003.

The ship is due to commence service on June 19, 2003 and be deployed in Alaska for the 2003 summer season.

The company said that it understands there are no casualties and everyone at the yard is accounted for. The extent of the damage is not as yet known, but appears to be significant.

P&O Princess Cruises said it will take sometime to assess the extent of the damage and any consequent delay to the scheduled delivery.

However, it noted that the company has in place contractual arrangements with the yard and insurance policies that it believes, irrespective of the extent of the damage and any consequent delay, will be sufficient to ensure that there will be no significant economic impact on the Group nor any adverse impact on its 2003 earnings.
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