Report by Kirsten Bowling
P&O Princess Cruises has
reported a fall in operating profits to $373.6 million in 2000, compared with $388.3
million the previous year.
The company blamed the drop on
fierce competition and overcapacity in the North American market, adverse exchange
rate movements, high fuel prices and fewer customers than expected booking
Millennium cruises.
Meanwhile, P&O Princess has
announced plans to transfer its 77,000-ton vessel Ocean Princess to its UK arm,
P&O Cruises, and rename it Oceana.