Exhibit 5.3

                               MAPLES AND CALDER
                              CAYMAN EUROPE ASIA

P&O Princess Cruises PLC
77 New Oxford Street,
London, WC1A 1PP
United Kingdom

Carnival Corporation
3655 N.W. 87th Avenue
Miami, Florida 33178-2428
U.S.A.

14th March, 2003

Dear Sirs

P&O Princess Special Voting Trust

We have acted as Cayman Islands counsel to The Law Debenture Corporation
(Cayman) Limited (the "Trustee") in connection with (i) the execution and
delivery of the trust deed (the "Trust Deed") to be made between Carnival
Corporation, a Panamanian corporation (the "Depositor") and the Trustee, known
as P&O Princess Special Voting Trust, a Cayman Islands law trust (the "Trust")
pursuant to which shares of beneficial interest in the Trust (the "Trust
Shares") are to be issued and the initial trust property of which is the P&O
Princess Special Voting Share (the "Initial Property"); and (ii) the
registration statement on Form S-4/F-4, including all amendments or supplements
thereto ("Form S-4/F-4"), filed with the Securities and Exchange Commission
under the Securities Act of 1933, as amended (File number 333-102442) (the
"Registration Statement") relating, among other things, to the offering of the
Trust Shares. We are furnishing this opinion as Exhibit 5.3 to the Registration
Statement. Other terms used but not defined in this letter are used as defined
in the Registration Statement or the Trust Deed.

1  DOCUMENTS REVIEWED

For the purposes of this opinion, we have reviewed only originals, copies or
final drafts of the following documents:

1.1the Trust Deed; and

1.2Form S-4/F-4.

2  ASSUMPTIONS

The following opinion is given only as to, and based on, circumstances and
matters of fact existing and known to us on the date of this opinion. This
opinion only relates to the laws of the Cayman Islands which are in force on
the date of this opinion. We have also relied on the following assumptions,
which we have not independently verified.

2.1The Trust Deed will be authorised and duly executed and delivered by or on
   behalf of the Depositor in accordance with all relevant laws.

2.2The Trust Deed will be, legal, valid, binding and enforceable against the
   Depositor and the Trustee in accordance with its terms under all relevant
   laws other than the laws of the Cayman Islands.

  PO Box 309GT, Ugland House, South Church Street, George Town, Grand Cayman,
                                Cayman Islands
          Telephone: (345) 949 8066 Facsimile: (345) 949 8080 Email:
                           info@maplesandcalder.com



MAPLES AND CALDER
CAYMAN EUROPE ASIA

2.3Copy documents, conformed copies or drafts of documents provided to us are
   true and complete copies of, or in the final forms of, the originals.

2.4All signatures, initials and seals are genuine.

2.5The power, authority and legal right of the Depositor and the Trustee under
   all relevant laws and regulations to enter into, execute, deliver and
   perform their respective obligations under the Trust Deed (other than the
   Trustee under the laws of the Cayman Islands).

2.6There is nothing under any law (other than Cayman Islands law) which would
   or might affect the opinions in this letter. Specifically, we have made no
   independent investigation of the laws of England and Wales, the Republic of
   Panama or the States of New York or Florida.

3  OPINIONS

Based upon the foregoing and subject to the qualifications set out below and
having regard to such legal considerations as we deem relevant, we are of the
opinion that:

3.1The Trust will, when the Initial Property is transferred to the Trustee by
   the Depositor and the Trust Deed is executed and delivered by the Trustee
   and the Depositor, be duly established and constitute a validly existing
   trust under the laws of the Cayman Islands.

3.2On the issue of Trust Shares as contemplated by and in accordance with the
   provisions of the Trust Deed and on the relevant entries being made in the
   Share Register, the Trust Shares will constitute validly issued Trust Shares
   and in respect of such Trust Shares, the registered holders will have the
   rights attributable thereto as set forth in the Trust Deed.

4  QUALIFICATIONS

The opinions expressed above are subject to the following qualifications:

4.1Nominal Cayman Islands stamp duty of CI$40 (US$48) may be payable if the
   original Trust Deed is brought to or executed in the Cayman Islands.

4.2The obligations of the Trustee may be subject to restrictions pursuant to
   United Nations sanctions as implemented under the laws of the Cayman Islands.

4.3All the beneficiaries under the trust may together terminate the Trust
   notwithstanding anything to the contrary in the Trust Deed.

We express no view as to whether the terms of the Trust Deed represent the
intentions of the parties and make no comment with regard to the
representations which may be made by the Depositor or the Trustee.

This opinion is given today and may not be relied on at any later date. This
opinion is given for your benefit for the purposes of the Registration
Statement to be filed under the Securities Act of 1933, as amended.

We hereby consent to filing of this opinion as an exhibit to the Registration
Statement and to the reference to our firm under the heading "Legal Matters" in
the Form S-4/F-4 included in the Registration Statement. In the giving our
consent, we do not thereby admit that we are in the category of persons whose
consent is required under Section 7 of the Act or the Rules and Regulations of
the Commission thereunder.

Yours faithfully,

MAPLES and CALDER