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14 August 2020 The on-line newspaper devoted to the world of transports 19:02 GMT+2

July 21, 2020

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Original news
British cruise line Cruise & Maritime Voyages has been placed into receivership

Last month, five of the six ships in the fleet were blocked by the UK Maritime and Coastguard Agency

The devastating effects of the Covid-19 pandemic on the sector cruises have given the coup de grace to the British Cruise & Maritime Voyages (CMV). South Quay Travel Ltd. (SQTL), which performs cruise activities under the Cruise & Maritime brand Voyages, was in fact placed in administration Controlled.

Restrictions on mobility and travel global level to contain the contagion have in fact led to the cessation of the activity of most of the ships world fleet, including those of CMV. Locking impacts on the British company's fleet have worsened last month when the British Maritime and Coastguard Agency (MCA) stopped nine foreign flag ships as they had no Port State Control (PSC) inspections, including five of the six ships in the CMV fleet that were stranded on the 19th June: the measure, which did not involve the Magellan ship 46,000 tonnes of gross Astor of 20,700 tsl that was stopped at Tilbury, the Astoria of 16,100 tsl stop at Tilbury, the Columbus of 63,800 tsl also stuck in Tilbury as well as the Vasco da Gama 55,900 tsl and the Marco Polo of 22,100 tsl that is been stopped in Avonmouth.

To the six ships, five of which are owned by CMV managed by the Global Cruise Lines of the Greek Global Maritime Group Group and one - the Astoria - rented to the end 2021, two ships were due to be added next year, Pacific Dawn and Pacific Aria,which CMV has recently acquired by P&O Australia of the Carnival Corporation Group ( 29 November 2019).

CMV CEO Christian Verhounig pointed out that in recent months the company has been working hard to get the funding needed to support impact of the crisis on the company's business, leading to the negotiations with investment banks, private companies equity and hedge funds that, while reaching an advanced stage, do not are concluded with an agreement. Verhounig pointed out that the crisis unprecedented global warming caused by the pandemic has disrupted tragically a decade of the company's business crusaders that had achieved record results last year. The CEO of CMV specified that before the pandemic the company had already sold almost 90% of the capacity offer from their cruises for the whole of 2020 and had sold almost 50% of capacity in the UK next year.

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