SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

COMMODORE HOLDINGS LIMITED

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

G23257101

(CUSIP Number)

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

[ ] Rule 13d-1(b)
[ ] Rule 13d-(c)
[ ] Rule 13d-1(d)

*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 1 of 4 Pages


SCHEDULE 13G

------------------------------------
CUSIP NO.   G23257101
------------------------------------

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    1       NAMES OF REPORTING PERSONS
            I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)

            Frederick A. Mayer
            000-00-0000
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    2       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP             (a) [ ]
                                                                         (b) [ ]
--------------------------------------------------------------------------------
    3       SEC USE ONLY


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    4       CITIZENSHIP OR PLACE OF ORGANIZATION

            United States
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                                 5      SOLE VOTING POWER

                                        550,000
                              --------------------------------------------------
     NUMBER OF                   6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY                         0
     OWNED BY                 --------------------------------------------------
       EACH                      7      SOLE DISPOSITIVE POWER
    REPORTING
      PERSON                            550,000
       WITH                   --------------------------------------------------
                                 8      SHARED DISPOSITIVE POWER

                                        0
--------------------------------------------------------------------------------
    9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

            550,000
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    10      CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

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    11      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

            7.2
--------------------------------------------------------------------------------
    12      TYPE OF REPORTING PERSON

            IN
--------------------------------------------------------------------------------

                                Page 2 of 4 Pages


Item 1(a). Name of Issuer: Commodore Holdings Limited

Item 1(b). Address of Issuer's Principal Executive Offices:
4000 Hollywood Boulevard South Tower, Suite 385-S 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 South Tower, Suite 385-S 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 Item 5-11 on 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

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

                                Page 3 of 4 Pages

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.

Dated:  February 11, 1999              /s/ FREDERICK A. MAYER
                                       -----------------------------------------
                                           Frederick A. Mayer

Page 4 of 4 Pages