Kloster Drops Name for Norwegian Cruise Line Branding

The name Kloster Cruise will be dropped as Norwegian Cruise Line becomes the only name used for this cruise company.

Up to now, Kloster Cruise has been the parent company for NCL and Royal Cruise Line.

However, with the recent sale of two of RCL's ships and the name change, it is widely believed that RCL will be closed down or sold.

The Royal Odyssey and the Star Odyssey were recently sold to a buyer, identified only as a financial company, and chartered back to the cruise line until April 1996, when Kloster has options to either extend the charter or repurchase the vessels.

Industry sources suggest instead that the Crown Odyssey will be transferred to NCL and that the Queen Odyssey will be sold.

While Kloster has reported occupancy and rate improvements for NCL in 1995, RCL has continued to experience softness in earnings throughout 1995.

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