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Author Topic: Cruise & Maritime Voyages (CMV) and TransOcean Tours closure  (Read 45919 times)
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Angelgreat
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« Reply #15 on: August 20, 2020, 10:07:17 pm »

Oh no, the news are covering how the Magellan (ex. Holiday) is still laid up after CMV's bankruptcy.
https://cruiseradio.net/former-carnival-cruise-ship-awaits-fate/amp/
She's for sale online, but if no one buys her, she's going to join her younger and bigger sisters in the scrap yards. We have to try to get Bahamas Paradise Cruise Line to buy her as her sister ship Grand Celebration is currently sailing for them. Here's the link to her online listing.

https://www.yachtworld.com/boats/1985/cruise-ship-1-452-passengers-stock-no-s2168-2739071/
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Angelgreat
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« Reply #16 on: August 22, 2020, 06:00:38 pm »

The listings for the CMV fleet now have a red TO BE SOLD AT AUCTION message. They are going to auction the ships off. We have to save the classic vessels!
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Robert J Smith
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« Reply #17 on: August 30, 2020, 11:10:05 am »

https://www.cruisetradenews.com/cruise-maritime-voyages-boss-makes-bid-to-relaunch-line/?fbclid=IwAR28K11QNmR8KGR8bB2ugS04R3CKND4WhcZy_FemgOb8tZhcyDaVmOGoUSQ
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Clive Harvey
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« Reply #18 on: August 30, 2020, 02:11:48 pm »

It will of course be interesting to see if he is successful in relaunching the company. If he does, I would expect it to be with a somewhat smaller fleet, perhaps Magellan, Columbus and Vasco Da Gama.
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Angelgreat
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« Reply #19 on: August 30, 2020, 02:40:45 pm »

It will of course be interesting to see if he is successful in relaunching the company. If he does, I would expect it to be with a somewhat smaller fleet, perhaps Magellan, Columbus and Vasco Da Gama.

Yes, it is nice that someone bought the name and online assets of the cruise line, but if the cruise line is revived, than it would face the same challenges as a brand new cruise line. Also, the fleet are still going to be auction off, so it's likely that the fleet of the new CMV will be different.
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Clive Harvey
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« Reply #20 on: August 30, 2020, 03:56:27 pm »

It is not just 'someone' it is the man that headed up CMV in the first place. He and his team will have already got a plan of action, dependent upon finding financing. That might be a bit more forthcoming with a slimmed down operation. With the company assets and data base already acquired all that would be needed would be a relaunch. It wouldn't be like a brand new company starting out afresh. As for ships, yes, the present CMV fleet is for sale but no one is going to beat a path to the administrators door to buy them. So, if funding can be found he'll just buy back the ships and probably market them under a slightly different name, such as C&M Cruises.
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Angelgreat
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« Reply #21 on: August 30, 2020, 04:00:40 pm »

It is not just 'someone' it is the man that headed up CMV in the first place. He and his team will have already got a plan of action, dependent upon finding financing. That might be a bit more forthcoming with a slimmed down operation. With the company assets and data base already acquired all that would be needed would be a relaunch. It wouldn't be like a brand new company starting out afresh. As for ships, yes, the present CMV fleet is for sale but no one is going to beat a path to the administrators door to buy them. So, if funding can be found he'll just buy back the ships and probably market them under a slightly different name, such as C&M Cruises.

True, but it may have to be a smaller fleet. Marco Polo and Astoria may be bought back, but the rest could still be sold off. Also, CMV Cruise Line sounds a bit better as it still links to the Cruise and Marine Voyages name.
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Krispen Atkinson
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« Reply #22 on: September 09, 2020, 03:53:18 pm »

CW Kellock/Eggar Forrester has been appointed by the UK Admiralty Marshal for the sale by tender of the Global Maritime's fleet of five vessels, following the UK High Court granting applications from creditors.

The sales are as follows:

VASCO DA GAMA, bid deadline of 8th October 2020
COLUMBUS, 12th October 2020
MAGELLAN, 19th October 2020
ASTOR, 15th October 2020
MARCO POLO, 22nd October 2020

Further details here: https://eggarforresterships.com/auctions

Krispen
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Angelgreat
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« Reply #23 on: September 09, 2020, 10:14:40 pm »

CW Kellock/Eggar Forrester has been appointed by the UK Admiralty Marshal for the sale by tender of the Global Maritime's fleet of five vessels, following the UK High Court granting applications from creditors.

The sales are as follows:

VASCO DA GAMA, bid deadline of 8th October 2020
COLUMBUS, 12th October 2020
MAGELLAN, 19th October 2020
ASTOR, 15th October 2020
MARCO POLO, 22nd October 2020

Further details here: https://eggarforresterships.com/auctions

Krispen


Here's a link to confirm that.

https://www.cruiseindustrynews.com/cruise-news/23485-cruise-ship-fleet-headed-to-auction-block.html

Now, while it's nice that they're auctioning the vessels, I worry that some may be bought by scrappers.
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Angelgreat
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« Reply #24 on: September 10, 2020, 01:51:07 pm »

CW Kellock/Eggar Forrester has been appointed by the UK Admiralty Marshal for the sale by tender of the Global Maritime's fleet of five vessels, following the UK High Court granting applications from creditors.

The sales are as follows:

VASCO DA GAMA, bid deadline of 8th October 2020
COLUMBUS, 12th October 2020
MAGELLAN, 19th October 2020
ASTOR, 15th October 2020
MARCO POLO, 22nd October 2020

Further details here: https://eggarforresterships.com/auctions

Krispen


I just noticed that all of the links and listings of the auction do not have the Astoria (ex. Stockholm) listed, despite also sailing with CMV around the time they entered administration. That means the vessel has already been sold.
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Clive Harvey
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« Reply #25 on: September 10, 2020, 04:35:33 pm »

No it doesn't. It reminds us that she is under Portuguese ownership. CMV's charter of her was due to end this year in any event.
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Angelgreat
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« Reply #26 on: September 10, 2020, 05:01:35 pm »

No it doesn't. It reminds us that she is under Portuguese ownership. CMV's charter of her was due to end this year in any event.

Portuscale Cruises did charter the Astoria to CMV, but Portuscale Cruises no longer have any vessels sailing for her as the last vessels she had have either been laid up or chartered to other cruise lines. It's possible that the Astoria has already been sold or charged to another cruise line shortly before they announced the auction dates.
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davidships
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« Reply #27 on: September 11, 2020, 01:39:23 am »

As Clive said, ASTORIA hasn't been owned by CMV and so is nothing to do with the auction of assets.  Of course, the owners (Islands Cruises Transportes Marítimos Lda, Funchal and therefore Sociedade de Consultores Marítimos Lda, Lisbon/Portuscale) are likely to be creditors, with some unpaid charter hire.
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Mike Cornwall
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« Reply #28 on: September 12, 2020, 03:39:44 am »

There is something that I find rather puzzling about the ownership of the former CMV fleet, and hopefully someone with sound real knowledge, like Bob Scott, can shed some light.
Mu understanding was that, with the exception of Astoria, the fleet was owned by Global Marine out of Greece. They set up CMV, and this was their shop front that was presented to the punters. So CMV could not raise any money to pay their debts, which included carter costs and wages, but as they (CMV) had no real assets.
So my questions are:
1/ Why did Global Marine let them go under, after all they would still not get paid their charter fees, why not continue to pay the bills until this Covid thing is all over. After all Global still have all their costs to pay, with the exception of wages.
2/ Why has the court seized the ships and are now auctioning them off if Global do indeed own the ships. How can they be assets of CMV if CMV do not own them.
I have worked in the shipping operations all my life and so I do have an idea how it all works, but I can't figure this one out.
Love to hear some sound ideas on this. (IE; not nonsense speculation)
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« Reply #29 on: September 12, 2020, 06:18:34 pm »

There is something that I find rather puzzling about the ownership of the former CMV fleet, and hopefully someone with sound real knowledge, like Bob Scott, can shed some light.
Mu understanding was that, with the exception of Astoria, the fleet was owned by Global Marine out of Greece. They set up CMV, and this was their shop front that was presented to the punters. So CMV could not raise any money to pay their debts, which included carter costs and wages, but as they (CMV) had no real assets.
So my questions are:
1/ Why did Global Marine let them go under, after all they would still not get paid their charter fees, why not continue to pay the bills until this Covid thing is all over. After all Global still have all their costs to pay, with the exception of wages.
2/ Why has the court seized the ships and are now auctioning them off if Global do indeed own the ships. How can they be assets of CMV if CMV do not own them.
I have worked in the shipping operations all my life and so I do have an idea how it all works, but I can't figure this one out.
Love to hear some sound ideas on this. (IE; not nonsense speculation)


Cruise & Maritime Voyages (CMV) and TransOcean Tours are both owned by Global Marine. Global Marine also owned the vessels (except the Astoria, which is owned by the portuguese Portuscale Cruises) and so the fleet of CMV and TransOcean are also part of the Global Marine fleet. When Global Marine went bankrupt, CMV and TransOcean also went bankrupt as they are owned by Global Marine, which is why the vessels were seized by the British government.
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