NEW YORK -- A new cruise line is about to make a splash with two familiar ships and two familiar executives.

Most of the concepts for the launch of Oceana Cruises are shaping up according to plan. Many details have been under wraps since the project was announced in October -- but now Frank Del Rio and Joseph Watters are gearing up for the opening of their reservations center on Jan. 27.

The baby, however, may be renamed to avoid confusion with P&O Cruises' vessel the Oceana. On the table is a plan to add an "i" and change the new line's name to Oceania Cruises, sources told Travel Weekly.

But for now, the original name stands. And the res number will not change: (800) 531-5658. Agents can request brochures at www.oceanacruises.com.

The pair hardly needs an introduction: Watters, now the chairman of Oceana, is a former president of Crystal Cruises. And Del Rio, the CEO of the new line, is well known to agents from his days at the former Renaissance Cruises.

Oceana Cruises is one of at least three planned cruise start-ups this year, but interest was piqued by the hardware involved: Oceana will use two of Renaissance's R-class ships -- the former R1, renamed the Regatta, and the R2, still unnamed. Oceana also has an option to operate a third ship, the R5.

Watters and Del Rio formalized their agreements on the vessels last month with Cruise-invest, the French company that bought the R-class ships from the bankrupt Renaissance.

Although Watters and Del Rio knew each other, the two had no major dealings before they separately approached Cruiseinvest about an R-ship deal.

Since Del Rio and Watters were paired by Cruiseinvest, the two have worked across four time zones to put together the cruise line: Del Rio working from the company's Miami base and Watters from Los Angeles.

E-mail helps get business done. "And we talk on the phone [at least] two times a day. My wife's getting jealous," Del Rio joked. "I thought at first we'd be like the odd couple, like Oscar Madison and Felix Unger, but we're more alike than we'd both want to admit. We're still waiting for our first major argument."

The combination of Del Rio, the R1 and R2 and the news that the first ship will sail in Europe led to comparisons with Renaissance, which filed for bankruptcy in September 2001. But Del Rio and Watters insist Oceana is no Renaissance redux.

"We know there are some people who will say this is Renaissance coming back," Watters said. "But when people see our product and they see our approach, they'll see this is something different and fresh."

Both executives stressed that Oceana will be agent-friendly from the start, to the tune of 10% base commissions, 12 district sales managers, preferred-sales agreements with major consortia and, they plan, membership in the Cruise Lines International Association.

"We are not looking to take direct business," Watters said. "If someone calls Oceana and says, 'I don't want to deal with a travel agent,' our first response would be, 'We wish you would.' "

Del Rio added, "We will not have a separate sales group dealing with direct consumers."

And it will be travel agents who will sell the Regatta on its July 5 maiden voyage from Barcelona, Spain, to Harwich, England. The second ship debuts in October.

Del Rio said the plan is to sail the ships in the Mediterranean in the spring and fall and in the Baltic region in June and July.

In November, they will return to the Western Hemisphere, with one ship going to the eastern Caribbean and the other repositioning to South America.

Del Rio added he would like to make a few U.S. calls and, ultimately, position a ship in the Far East.

The option for the R5 must be exercised by mid-2003 for a spring 2004 delivery.

Del Rio said the decision will be made based on the economy, world events and how well the line is accepted in the marketplace.

Oceana's niche is in the "upper-premium" category. Del Rio likened the design to a Ritz-Carlton -- along with per diems in the $200 range.

"The excitement here is we don't have to charge $400 per day," Del Rio said. "And the reason we can do that: Oceana has made a very attractive financial arrangement for these vessels."

The two executives are budgeting their food costs toward the luxury spectrum, and dining will be a big part of the experience. The line contracted with celebrity chef Jacques Pepin to design the menu.

Among the changes are new teak decking, a new pool, new deck furniture and interior furnishings.

"We want people to come aboard and say, 'I'm comfortable here,' " Watters said.

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