Last minute cruises are being hit hard by the slowdown in the economy, but the heaviest hit are those that are repositioning.

Follow up:

Repositioning cruises are already often discounted, especially those that involve expensive one-way tickets. But it's clear that the economy is really hurting. Princess recently offered discounted cruises PLUS discounted last minute airfare on a number of cruises. Still other cruises are extremely discounted of late. Here are a few examples, taxes, fuel surcharges and transportation are extra. Prices are for inside cabins unless specified...

RCL Splendor - Lisbon to Santos 13 days $399
Celebrity Century - Barcelona to Miami 14 days for $499
NCL Gem - Barcelona to New York 13 days $349
NCL Dawn - NY to Miami 13 days $389
NCL Sun - SF to Valpariso 19 days $394
RCL Voyager - Barcelona to Galveston 15 days for $399