Carnival to invest US$2b in fleet

Carnival Corp said it is negotiating with shipyards for a US$2 billion new shipbuilding package. The company said it planned to add more capacity to its three largest cruise brands - Carnival, Holland America and Costa Crociere. The latter is owned 49 per cent by Carnival and 49 per cent by its affiliate Airtours. The company expects delivery of these vessels, funded through internal cash flow, to begin in 2000.