in 1998. Arthur Rodney was selected to serve as the first president of the cruise line tentatively called Disney Vacation Cruises. Disney Cruise Line in 1995 commissioned Disney Magic and Disney Wonder from Fincantieri in Italy. The cruise line was incorporated as Devonson Cruise Company, Limited on February 6, 1996, in the United Kingdom, but soon was renamed Magical Cruise Company Limited on October 1, 1996. The cruise line cost as much as a theme park to start up. In 1996, Magical Cruise Company purchased Gorda Cay as the line's private island. The company spent $25 million over 18 months on the island and renamed it Castaway Cay. The Disney Magics first cruise was originally scheduled for March 1998 but was postponed twice while the Disney Wonder was scheduled for December 1998. On July 30, 1998, with the first voyage of Magic, the Disney Cruise Line was operational. Also, a 10-year contract was signed with Port Canaveral for its home terminal. With the August 31, 1999, resignation of Rodney as cruise line president, senior operating officer Matt Ouimet was named as his replacement in July. By 2002, the line added seven-day cruises and western Caribbean cruises. In June 2005, Disney Magic moved its port for the summer cruise season to the Port of Los Angeles. This was temporary for the company's 50th-anniversary celebration of Disneyland and as a test for California expansion. The transfer cruise sold out quicker than expected. Bookings from first time Disney cruisers were up for these cruises by at least 60%. While Disney had wanted additional ships, shipbuilding cost had increased by at least 33% since it built its first two ships. The Disney Magic was transferred to the Mediterranean for an extended stay in 2007. In 2007, Disney announced the building of two new cruise ships. Disney Dream set sail in January 2011, followed closely by Disney Fantasy in 2012. Meyer Werft shipyard, based in Papenburg, Germany, built the new ships. New Vacation Operation unit In February 2009, Tom McAlpin left the Disney Cruise Line presidency and was replaced by Karl Holz as president of Disney Cruise Line and New Vacation Operations. In early 2009, Disney and Canaveral Port Authority extended their agreement to 2022 with expansion to the terminal to handle the new class of ships. A re-posting of the Disney Magic to Europe in 2010 adding DCL's first North European cruises with Mediterranean