P&O Cruises UK has confirmed the sale of a 20-year-old cruiseship and said it intends to compensate passengers who had booked holidays on the vessel.

The UK-based brand of Carnival Corp said the 2,272-berth Oceana (built 2000) will leave its fleet this month. TradeWinds reported on Monday that the ship had been sold.

Paul Ludlow, president of P&O Cruises UK, said the company was "sorry to disappoint" guests who had reservations, but said that the divestment was necessary for the Southampton-based cruiseship operator.