P&O Takes Two From MHI

A further sign of Japanese inroad in the lucrative, and previously European-exclusive domain, of cruise shipping was sounded last week when the Financial Times reported that P&O is ordering two ships from Mitsubishi Heavy Industries as part of a $4.5 billion program to double the capacity of its cruise fleet over the next five years. Contracts for the two ships are reportedly worth $900 million, and the program in total could equal 11 new ships. The two cruise ships -- at 113,000 gross tons -- will reportedly be the largest the company has ordered.