Successful NCL Private Offering

NCL's private offering of 100 millions shares at NOK 20 is reported to have been very successful.

The success has been partially attributed to the net earnings projec­tions for the cruise line, which have been set at $35 million in 1985 (incl. $10 million from Royal Viking Line), $53 million in 1986, and $70 million in 1987. It is also noted that the market value of NCL's fleet is considerably higher than its book value.

While the Phoenix project has been postponed, the line has announced plans for a new 2,500 passenger ship, and is determined to maintain its position as the world's largest cruise line.

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