TRAVEL & TOURISM

Kloster to Shut Down Royal Cruise Line: Financially strapped Kloster Cruise Ltd., based in Coral Gables, Fla., said it will shut down the unit’s San Francisco headquarters and that it has already started laying off members of the 120-person staff. Royal’s four ships will be used by Kloster’s other unit, Norwegian Cruise Line, which also is based in Coral Gables, the company said. Kloster, a unit of Vard of Norway, has been selling ships and other assets to help reduce a debt load of $825 million. Talks fell apart in November for Kloster to be acquired by Carnival Corp. of Miami, the world’s largest cruise line. Kloster Chief Executive Adam Aron said the shutdown is expected to reduce costs by about $25 million annually.