COMMODORE HOLDINGS LTD
SC 13G/A, 1998-02-02
WATER TRANSPORTATION
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                (AMENDMENT NO. 1)

                           COMMODORE HOLDINGS LIMITED
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                                  COMMON STOCK
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    G23257101
- --------------------------------------------------------------------------------
                                 (CUSIP Number)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



<PAGE>
                                  SCHEDULE 13G

- ------------------------------------------    ----------------------------------
CUSIP NO. G23257101                             PAGE 2 OF 4 PAGES
- ------------------------------------------    ----------------------------------
- --------------------------------------------------------------------------------
    1        NAME OF REPORTING PERSONS
             S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS 

             FREDERICK A. MAYER
             ###-##-####
- --------------------------------------------------------------------------------
    2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP            (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
    3        SEC USE ONLY
- --------------------------------------------------------------------------------
    4        CITIZENSHIP OR PLACE OF ORGANIZATION
             UNITED STATES
- --------------------------------------------------------------------------------
                                     5        SOLE VOTING POWER
          NUMBER OF                           525,000
            SHARES
         BENEFICIALLY
           OWNED BY
             EACH
          REPORTING
            PERSON
             WITH

                               -------------------------------------------------
                                     6        SHARED VOTING POWER
                                              0
                               -------------------------------------------------
                                     7        SOLE DISPOSITIVE POWER
                                              525,000
                               -------------------------------------------------
                                     8        SHARED DISPOSITIVE POWER
                                              0
- --------------------------------------------------------------------------------
    9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
             525,000
- --------------------------------------------------------------------------------
    10       CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
             SHARES*                                                         [ ]
- --------------------------------------------------------------------------------
    11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
             9.0
- --------------------------------------------------------------------------------
    12       TYPE OF REPORTING PERSON*
             IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                                Page 2 of 4 pages


<PAGE>


Item 1(a).         Name of Issuer: COMMODORE HOLDINGS LIMITED

Item 1(b).         Address of Issuer's Principal Executive Offices:

                             4000 Hollywood Boulevard, Suite 385
                             South Tower
                             Hollywood, FL  33021

Item 2(a).         Name of Person Filing:

                             Frederick A. Mayer

Item 2(b).         Address of Principal Business Office or, if none, Residence:

                             4000 Hollywood Boulevard, Suite 385
                             South Tower
                             Hollywood, FL  33021

Item 2(c).         Citizenship: See Item 4 on Cover Page

Item 2(d).         Title of Class of Securities: COMMON STOCK

Item 2(e).         CUSIP Number: G23257101

Item 3             If this statement is filed pursuant to Rules 13d-1(b),
                   or 13d-2(b), check whether the person filing is a:

                             NOT APPLICABLE

Item 4.            Ownership:  See Items 5-11 of Cover Page

Item 5.            Ownership of Five Percent or Less of a Class:  NOT APPLICABLE

Item 6.            Ownership of More than Five Percent on Behalf of Another 
                   Person:

                             NOT APPLICABLE


                                Page 3 of 4 pages


<PAGE>


Item 7.            Identification and Classification of the Subsidiary
                   Which Acquired the Security Being Reported on By the Parent
                   Holding Company: NOT APPLICABLE

Item 8.            Identification and Classification of Members of the Group:  
                   NOT APPLICABLE

Item 9.            Notice of Dissolution of Group:  NOT APPLICABLE

Item 10.           Certification:  NOT APPLICABLE


                                    SIGNATURE

                   After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.

/s/ Frederick A. Mayer
- ---------------------------
Name:  Frederick A. Mayer
Title:   Vice Chairman


Dated:  February __, 1998


                                Page 4 of 4 pages






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