Isle cruise travel to pick up, industry association says

While cruise travel to some traditional destinations, such as the Mediterranean, is declining this year, Hawaii cruise business will sharply increase, according to the Cruise Lines International Association.

A study of capacity for 2002 shows bed-days in the Hawaii market up 22 percent, the New York-headquartered association said today.

Still, Hawaii will capture just less than 3 percent of the international cruise market. The Mediterranean, which last year had 12.7 percent of the business, will see its market share slip to 10 percent. The traditional leader, the Caribbean/Bahamas market, is again in first place with a 46.6 percent share of the market, up from 44.5 percent in 2001.

Hawaii ranks fifth after Caribbean/Bahamas, Europe, the Mediterranean and Alaska. The association said cruise lines shifted their itineraries as the world travel markets changed after Sept. 11.

Judge gives preliminary OK to oil suit settlement

A federal judge has given preliminary approval to the state's $20 million settlement with Hawaii's major oil companies, and a hearing for final confirmation of the deal is scheduled for April 30.

Senior U.S. District Judge Samuel King yesterday accepted the settlement, which was submitted to the court on Friday. All Hawaii consumers will have the opportunity to object to the settlement or request to be excluded from it. A deadline of April 15 has been set for objections and exclusions.

If the court does not approve the settlement, the state's $2 billion lawsuit against the companies would resume and face potential dismissal in summary judgment.

In other news ...

WASHINGTON >> D.R. Horton Inc., which last month completed its acquisition of Honolulu-based Schuler Homes Inc., filed to sell as much as $1 billion of securities over time to fund general corporate expenditures.

The home builder can sell debt securities, preferred and common stock.