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In 2002, cruise industry veterans Frank Del Rio and Joe Watters, former heads of Renaissance Cruises and Crystal Cruises respectively, teamed up to form Oceania Cruises, acquiring the former R1 and R2 cruise ships of Renaissance Cruises, and renaming them Regatta and Insignia. Both ships have received a $5 million refurbishment and now offer an 'upper premium' cruise experience with higher levels of food and service. Since both cruise ships are so new, having entered service in 1998, they are in excellent condition, however, they each received a $5 million refit before joining Oceania. Upgrades and maintenance work was undertaken on both ships during two-week dry docks. Work included intensive maintenance of machinery and navigation equipment. Another former Renaissance Cruises ship named "Nautica" joint the Oceania Cruises fleet in 2005. Overall, Oceania Cruises has managed to create a luxury experience, particularly in the areas of cuisine and service at a mid-market price point. Ultimately, the company offers one of the industry's best value-for-money options in cruising. The intimate and luxurious 684 passenger ships, feature itineraries to the Mediterranean, Scandinavia, Mexico, the Caribbean, and Panama Canal. The itineraries have been tailored to include many overnight port stays allowing passengers time to immerse themselves in the history, culture and local flavor of the region. Voyages for this cruise line include the Black Sea, British Isles, Caribbean, Central America, Greek Isles, Mediterranean, Mexico, North Cape, Russia, Scandinavia, and South America. A new cruise ship named Marina - especially build for Oceania Cruises is joining the Oceania Cruises fleet in late 2010. Although it is a bigger cruise vessel, the intention of Oceania Cruises is to keep the atmosphere on board intimate and luxurious like on the other three smaller cruise ships in the fleet.

Cruise ships and itineraries:

Marina: Marshall Islands registered, built 2010, 66,084 gross tons, 1,258 passengers, 800 crew members.
 
  Oceania Cruises-Marina ship
     
Nautica (formerly R5 of Renaissance Cruises): Marshall Islands registered, built 2000, 30,277 gross tons, 684 passengers, 386 crew members.
Itineraries: Mediterranean out of Civitivecchia (Rome) and Venice - Italy, Barcelona - Spain, Piraeus (Athens) - Greece, Istanbul - Turkey; Black Sea out of Istanbul - Turkey; Australia/Southeast Asia out of Sydney - Australia; Far East/Southeast Asia/India/Arabia out of Hong Kong and Tianjin (Beijing) - China, Bangkok - Thailand; Australia/New Zealand out of Singapore, Sydney - Australia and Auckland - New Zealand.

  Nautica cruise ship
     
Insignia: Marshall Islands registered, built 1998, Completely Refurbished 2003, 30.277 gross tons, 684 passengers, 386 crew members.
Itineraries: Mediterranean out of Civitivecchia (Rome) and Venice - Italy, Monte Carlo - Monaco, Barcelona - Spain, Piraeus (Athens) - Greece, Istanbul - Turkey, Marceille - France, Lisbon - Portugal; Western/Northern Europe out of Dover and (London) - UK, Barcelona - Spain, Copenhagen - Denmark and Amsterdam - The Netherlands; Trans-Atlantic out of Barcelona - Spain and Rio de Janeiro - Brazil; South America out of Rio de Janeiro - Brazil, Buenos Aires - Argentina, Valparaiso (Santiago) - Chile.
  Insignia cruise ship
     
Regatta (formerly R2 of Renaissance Cruises): Marshall Islands registered, built 1998, 30,277 gross tons, 684 passengers, 386 crew members.
Itineraries: Mediterranean out of Civitivecchia (Rome) and Venice - Italy, Monte Carlo - Monaco, Barcelona - Spain, Piraeus (Athens) - Greece; Western/Northern Europe out of Dover and Tilbury (London) - UK, Barcelona - Spain, Stockholm - Sweden, Copenhagen - Denmark; Trans-Atlantic out of Barcelona - Spain and Miami, FL; Caribbean/Amazon out of Miami, FL; Panama Canal out of Miami, FL and Los Angeles, CA; Mexican Riviera out of Los Angeles, CA.
  Regatta cruise ship