Thursday 24 June 2010

SEA CLOUD HUSSAR: Spanish shipyard files for bankruptcy

On 19 June 2010, the Spanish shipyard Factoria de Naval Marin filed for bankruptcy, resulting in a halting of the construction work on the largest full-rigged three-mast passenger ship ever built, the "SEA CLOUD HUSSAR". Following repeated delays in delivery, the shipyard is still unable to offer a completion date for the vessel. To safeguard its interests, the shipping company has therefore demanded reimbursement of the downpayments secured via bank guarantees. Sea Cloud Cruises is now in the process of examining how the construction of this vessel could possibly be finished.

For the most part, the vessel is in fact already completed and basically ready to launch. The interior fitting of the SEA CLOUD HUSSAR had already come to a halt earlier this year when one large supplier filed for bankruptcy.

Hermann Ebel, owner of the SEA CLOUD HUSSAR, expressed his continued interest in the completion of the cruise liner: "Together with all the parties involved, we are endeavouring to ensure the vessel is completed. However, we first have to wait for the Spanish court to appoint a receiver, but we do not expect any tangible results before the summer break."

Sea Cloud Cruises has been a blue-chip cruise operator since 1979. The 79-year-old four-masted bark "SEA CLOUD" has set the standard for all other vessels marketed by the Hamburg-based shipping company. Guests are invited to set sail to the most stunning destinations in Europe and the Caribbean on board of one of two stately windjammers or an exclusive river yacht.

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