Two more Royal Olympic ships go under the hammer
Mar 11, 2004
Following the judicial auction of the Royal Olympic Cruises (ROC) ship Olympia Countess in Durban recently, another two vessels of the struggling company will be sold at judicial auction in Miami, Florida and Long Beach, California.
The two ships are the sister vessels Olympia Explorer and Olympia Voyager, which were arrested in US waters under chapter 11 bankruptcy laws, placing the ships under the control of the US Courts in a similar fashion to South Africa’s judicial management for matters of insolvency.
The ships will be auctioned on 24 and 26 March respectively and will be advertised accordingly.
Royal Olympic Cruises said in a statement that it did not anticipate receiving any benefit from the sale, all of which would go to creditors.
Meanwhile another Royal Olympic Cruises ship, Triton, which is based in the Mediterranean, began a series of three and four cruises on Monday, 8 March. However ROC said it did not as yet have sufficient funds to plan further cruises.