Rick Williams, president of Ocean Cruise Lines has formed Constitution Cruise Lines - a Philadelphia-based company that will operate from Penn's Landing, Philadelphia beginning May, 1988.

"The decision to form Constitution Cruise Lines was stimulated by Ocean Princess' success in the Pennsylvania area last summer, and by the strength of advance bookings for the coming season," Williams said. "This, and Ocean's decision to return its ship to Europe next year, encouraged us to form the new cruise line with some expediency."

The company has not yet selected a vessel, but the ideal ship will have 500 to 800 lower berths, and be suited for itineraries to New England, Canada and Bermuda, Williams said. A Fall circuit to Cape Canaveral and the Bahamas and a winter season from Florida also are planned.

The new line will have a solid Pennsylvania base and be represented as Philadelphia's own cruise company. It will be funded by local interests, and by Ocean Cruise Line, who will operate the vessel. Williams will be president and chief executive officer, as well as a shareholder.

Bob Iversen, previously director of OCL's Swiss parent company, has been named the new president of Ocean Cruise Line.