FRANKFURT - German travel company TUI is keeping to its plan to provide three vessels for TUI Cruises by 2012, weekly WirtschaftsWoche said, citing TUI Cruises head Richard Vogel.

We are aiming for three ships by 2012. It is not yet determined whether we will issue an order for a new ship or for a remodelling of a ship, Vogel told the German weekly magazine.

The time now is favourable to put out such orders. In that context, the (worldwide financial) crisis has its advantages, he added.

TUI Cruises, a 50-50 joint venture between TUI and Royal Caribbean Cruises Ltd, is set to begin service with one ship in 2009.