A 7-night Alaska Princess cruise for $299? Alaska cruise prices may never have been this low. Alaska cruise prices have been falling like calving glaciers throughout 2009, but they may be bottoming out. If you've ever wanted to take an Alaska cruise, now is the time to take action.

According to Wall Street cruise analyst Robin Farley, fares for upcoming sailings to the Caribbean, Alaska and Europe may have bottomed out. "Our proprietary UBS Cruise Pricing Survey indicates ticket pricing in the Caribbean, Alaska and European trades appear to have stabilized over the last several weeks," says Farley.

Cruise prices are down significantly since the beginning of the year, particularly in the Alaska market. According to Farley, Alaska cruise prices have dropped by "the mid- to high-twenties percentage range" since the start of 2009.

So, just how low are this year’s Alaska cruise prices? Low, very low. For example, Norwegian Cruise Line (NCL) just cut its prices on a number of May cruises to Alaska. Luxurious balcony cabins are often priced less than what you would normally expect to pay for an inside cabin. On NCL’s May 3 Norwegian Sun Alaska cruise from Vancouver, balcony cabins start at $499 per person and inside cabins begin at $349 per person. To make this deal even hotter, 3rd and 4th passengers can come along starting at only $99 per person. June itineraries are also available at exceptional rates. Norwegian Cruise Line’s Freestyle cruises are excellent, so you can’t go wrong with this cruise bargain. For more information, contact your travel agent or NCL (www.ncl.com) and mention promotion code PG6.

Princess Cruises is also offering some amazing deals. May Alaska cruises aboard the Island Princess start at $299 for an inside cabin and balcony staterooms begin at $599 per person. The Diamond Princess also has May itineraries starting at $299. Great cruise bargains are also available on Princess sailings in June. For more information, contact your travel agent or Princess Cruises at www.princess.com.

Outstanding bargains are available Carnival Cruise Lines’ Alaska sailings as well. The Carnival Spirit’s 7-night May 13 from Vancouver is currently over 80% off, with prices starting at $329. Special resident rates are also available. Later sailings during the month of May are also being offered at over 80% off brochure prices. The ship also has excellent deals on summer sailings, although July and August rates are somewhat higher. For example, rates for the Carnival Spirit’s July 15 and August 12, 2009 sailings start at $579 for an inside cabin with prices for 3rd and 4th guest beginning at $449. The same prices are currently available for the Carnival Spirit’s August 26 sailing from Whittier to Vancouver. For more information, contact your travel agent or Carnival at www.carnival.com.

There are two types of cruise itineraries that are most commonly offered to Alaska. The first is the Inside Passage itinerary, a round-trip sailing from Seattle or Vancouver to the southeast region of Alaska. The second, the Gulf of Alaska itinerary, typically sails one-way between Vancouver and Alaska’s Whittier or Seward ports. Embarkation and debarkation points are different on this type of sailing, but cruise passengers have the opportunity to see more of Alaska’s spectacular scenery and add land-based cruise tours to Denali. Many of the lowest price itineraries are on these Gulf of Alaska sailings.

So, should you wait to book your Alaska cruise or grab these prices while they’re currently available? That’s hard to say, but one thing remains certain. It’s best to book earlier for the greatest selection of staterooms. This is particularly true for families interested in cabins that will accommodate three or four people.

If soaring eagles, mountainous blue glaciers and breaching humpback whales are on your “bucket list” of things to see, this may be the year to take an Alaska cruise. Alaska is magnificent and these prices may not come back this way again. Make plans to see the Great Land of Alaska this year. The spectacular sights you’ll see will remain etched in your mind forever.