No matter who won the battle, one outcome was certain: the 2001 tug of war between Carnival and Royal Caribbean over P&O Princess would put much of the cruise industry, and the vast majority of the key US market, in the hands of just two corporate groups.
The bidding for the UK cruiseship owner marked the climax of a consolidation drive that fundamentally changed cruise into an industry in which capacity is controlled by the duo that remained.
