In a bid to reposition itself away from the dominant American players, the firm wishes to focus primarily on its central operations in Italy where it can capitalise on the booming European market, according to a report in the Sun Sentinel.
Maurice Zarmati, Costa's president and chief executive of North America, told the news provider that the Caribbean had become "saturated" by American operators.
"We didn't have the kind of yields in the Caribbean that met the company's goal objectives," he added.
However, Mr Zarmati remained confident that the company is positioned to become the third largest cruise operator in the world, following the imminent launch of two new vessels by 2012.
Other cruise operators are also increasingly looking to the European market, which is poised for huge expansion this year.
Just yesterday Princess Cruises unveiled what it coined it's "biggest ever expansion" into Europe.
When the 2011 cruises season hits, the company will possess a seven-strong fleet to be deployed on 43 individual itineraries.

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