It seems that the replacement for the PASIPHAE PALCE will be the cruise Europa which is not more than the second sisterships of cruise roma.
The ship is currently is under construction at Fincantieri castellmare di stablia shipyard and won't be ready til autumn 2009 . So most likely, minoan will have a ship down for the peak season.

Here are the first pics of the ship:
http://www.naviearmatori.net/gallery...e.php?id=73329

http://www.naviearmatori.net/gallery...e.php?id=73331

http://www.naviearmatori.net/gallery...e.php?id=73330

as you can see there are lot of work left.

Cheers
Lucas