Olympia Explorer and Olympia Voyager to Be Auctioned

Thursday, March 11, 2004
Royal Olympic Cruises announced that the vessels Olympia Explorer and Olympia Voyager will be sold at judicial auction, on March 24 and March 26 respectively, under process initiated by creditor banks and pursuant to a settlement agreement between ROCL, the owners, and the banks. The owning companies of the ships (subsidiaries of ROCL) had filed for Chapter 11 reorganization in the U.S. Bankruptcy Court in Honolulu, Hawaii, following which the ships were placed under judicial arrest pursuant to the settlement agreement. The judicial auction of the OLYMPIA EXPLORER is scheduled to take place on March 24 in Long Beach California, and the auction of OLYMPIA VOYAGER will be held on March 26 in Miami, Florida. ROCL does not expect to receive any proceeds from the sales after payment to the creditors. This announcement is not an official notice of these auction sales, which is being made by advertisements as directed by the relevant court order.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Delia Succeeds Schmidt as Ohmsett Program Manager

MAR Incorporated has named John Delia the Program manager for Ohmsett – The National Oil Spill Response Research & Renewable Energy Test Facility, succeeding Bill Schmidt who retired in December 2015.

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Maritime Security

BAE Systems Awarded £201m to Advance Successor Sub Design

The U.K. Ministry of Defence (MoD) has awarded BAE Systems £201 million to further the design of a successor to the Royal Navy's Vanguard class submarines.   The

Vietnam Gets Fifth Submarine from Russia

The fifth of the six Kilo-class submarines that Vietnam purchased from Russia has arrived at Cam Ranh Bay, Thanh Nien news reported.   The submarine, which was

Pentagon: Cut in LCS Ship Program 'Not an Indictment'

U.S. Deputy Defense Secretary Robert Work said the Pentagon's plan to truncate the Littoral Combat Ship program at 40 ships instead of 52 reflected budget pressures

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0967 sec (10 req/sec)