Pacific Princess is the latest Carnival Corp-owned cruise ship to be sold as the world’s largest cruise company continues to streamline its fleet for efficiency.

Princess Cruises sold its smallest ship Pacific Princess to an undisclosed buyer, which it said is part of parent company Carnival Corporation’s plan to accelerate the removal of less efficient ships from its fleet.

Pacific Princess in Sydney Harbour.

RELATED: Carnival Corp increases cruise ship retirements from 13 to 18 vessels

RELATED: Pacific Princess gets multi-million dollar refit ahead of Dubai cruise

Pacific Princess, which first entered service in 1999 for Renaissance Cruises carried just 670 passengers. She is a sister ship to Azamara’s trio of ships, all of which were recently sold by Royal Caribbean Cruises.

Pacific Princess joined Princess Cruises in 2002 and has sailed more than 1.6 million nautical miles and 11 world cruises.

“Pacific Princess holds so many memories and cherished experiences to all who sailed upon her,” said Jan Swartz, Princess Cruises president.

“Pacific Princess offered a traditional style of cruising to unique destinations. While it’s difficult to say goodbye to our ‘Love Boat,’ our World Cruise and exotic itineraries continue onboard our Medallion Class-enabled Island Princess and Coral Princess, featuring the best Wi-Fi at sea, allowing guests to keep in touch with loved ones and share vacation memories along the way.”

Pacific Princess is the 16th cruise ship to be sold from the Carnival Corp fleet, which includes ships from nine of the world’s largest cruise lines, including Carnival Cruise Line, Costa Cruises, P&O Cruises, and Holland America Line, all of which sold off ships in 2020.

Carnival has sold several cruise ships for scrap during the pandemic.

RELATED: Costa Cruises confirms major fleet consolidation with five cruise ships to be sold off

RELATED: Holland America ships to join Fred Olsen, while Costa NeoRomantica sold to Celestyal

Carnival Corp has announced its intention to shed at least 19 vessels as it seeks to free up capacity for newer, larger and more efficient ships that are due for delivery in the coming years.

While several of these vessels were meant to be delivered in 2021, Carnival has deferred delivery of all but one until 2022 through 2024, when it expects to have recovered from the current shutdown caused by the coronavirus pandemic.

“We continue to take aggressive action to emerge a leaner more efficient company,” said Arnold Donald, CEO, Carnival Corporation at the time. “We are accelerating the exit of… less efficient ships from our fleet.”

“This will generate a 12% reduction in capacity and a structurally lower cost base, while retaining the most cash generative assets in our portfolio,” he added.