Cruise Ship Sale Highlights Sector's Predicament

by Ship & Bunker News Team
Thursday June 18, 2020

A cruise ship is to be sold at a significant discount to an Italian buyer, according to maritime news provider Tradewinds citing market sources.

The coronavirus pandemic has punched a large hole in the demand for cruises and the Costa Victoria, which was built in 1996, is said to have been sold to GTM for uses other than as a cruise ship.

Ship & Bunker understands that the ship might be used as a floating home for the rest of its commercial life and then dismantled.

GTM is part of Gruppo San Giorgio which has a shipyard in Genoa.

The cruise sector has been badly hit by the coronavirus pandemic.  Currently the industry's fleet -- of over 300 ships -- is in lay up in various spots around the world.

However, Norwegian ferry and cruise operator Hurtigruten is to expand its niche cruises offer to Norwegian and other destinations by adding disembarkation ports on the European mainland and the UK.

The Costa Cruise brand is owned by cruise giant Carnival.