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Cruises to order construction of a third ship.

Celebrity, which sends the Horizon and Meridian to Bermuda, has ordered a 1,740-passenger ship will bring the company's total berth capacity to 9,000.

The new ship will be the third in the Century series the company has ordered.

The order was made against an assessment that the American market -- already 85 percent of the world total -- will continue to grow between eight and nine percent a year.

The rate is much higher than the growth in total berths.

Some analysts say that 1993's 4.4 million passenger total is only 15 percent of the continental market potential.

Construction has already started on the first ship, which is scheduled for delivery in late 1995. The second and third sister ships are scheduled for autumn of 1996 and 1997.

The three vessels are about 70,000 gross registered tons with capacity for between 1,740 and 1,750 passengers.