In Carnival Corporation's first major move since acquiring P&O Princess, Carnival Cruise Line's venerable Jubilee will be transfered out of the fleet. The 1,486-passenger ship will join P&O Cruises Australia in summer 2004.

Jubilee, which will be renamed, will join Pacific Sky there as part of what Carnival is calling an Australian "fun ship" duo. Though considered mid-sized in the U.S. market, the 47,262-ton Jubilee will be the largest cruise ship based year-round in Australia.

The ship, upon wrapping up her North America-based sailings, will undergo an extensive refurbishment. Jubilee, launched in 1984, is currently handling Carnival's short Mexico itineraries out of Galveston. It moves to San Juan for the winter, where it will offer week long Caribbean sailings.