Greek shipowner Marios Iliopoulos' expansion into the cruise sector through his ferry company Seajets is continuing with the purchase of two more cruiseships at auction.
Seajets bought the 46,052-gt Magellan (built 1985) and 63,786-gt Columbus (built 1989), but did not disclose the prices.
The pair were formerly owned by UK-based Cruise & Maritime Voyages (CMV), which collapsed into administration in July.
VesselsValue estimates the Magellan is worth $8.36m and the Columbus $11.2m, which is the same as their scrap values.
Seajets has also confirmed it bought the 55,900-gt Pacific Aria (built 1994) from Carnival subsidiary P&O Cruises Australia last week, as TradeWinds reported.
The company has now purchased six cruiseships in four months.
TradeWinds understands that Seajets plans to see how the Covid-19 situation develops before deciding what to do with the vessels.
Some market onlookers have speculated Iliopoulos has bought the ships with an asset play in mind and does not intend for Seajets to enter the cruise market.
The company could keep the vessels in lay-up for a couple of years, in expectation of far higher values when the pandemic subsides.
Seajets made a splash into the sector in early July when it bought the 77,500-gt Oceana (built 2000), which was sold by troubled Carnival Corp’s P&O Cruises.
Around the same time, it also acquired another two vessels from the same stable: the 57,100-gt Veendam (built 1996) and the 55,600-gt Maasdam (built 1993), which were operated by Holland America Line, a separate Carnival unit.
An ending for CMV — or a new beginning?
Meanwhile, the market is awaiting news of who has bought the final two ex-CMV vessels sold at auction and whether the firm's old chief executive will succeed in relaunching the business.
Bidding for the 20,704-gt Astor (built 1987) ended on 8 October and the ship will be delivered to the unidentified buyer next week.
Similarly, the auction of the 22,080-gt Marco Polo (built 1965) ended on Tuesday but the buyer is not yet known.
Christian Verhounig, CMV's former chief executive and now head of CVI Group, has reportedly bought assets from the old firm and its sister companies South Quay Travel & Leisure, Independent Coach Travel (Wholesaling) and Viceroy, according to press reports.
He has reportedly acquired customer databases, booking systems and intellectual property, as well as cars and office furniture.
Verhounig said in September that the global pandemic had had "a devastating impact on CMV’s once flourishing, expanding and profitable business".
"Having developed a much-loved brand over the past decade and hugely popular value-based niche no-fly cruise product, we have been simply overwhelmed by the outpouring of support and pleased to relaunch the business," he told the Insider.
TradeWinds has contacted Verhounig for further comment.
