Ritchie Bros. Auctions Off PacifiCat Trio

Tuesday, March 25, 2003
Ritchie Bros. Auctioneers have concluded the results of the sale of the PacifiCat catamaran fast ferries. The three vessels, which sold for a total of $13 million within 10 minutes, also involved ancillary equipment auctioned off for $650,000 – for total auction proceeds of $13.6 million. The ferry trio was purchased by one buyer, who has decided to remain anonymous, while the ancillary equipment was bought by a group of nine different buyers.

According to David Ritchie, chairman and CEO of Ritchie Bros. Auctioneers the vessels were not a hard sell. “Without exception, the potential bidders who inspected the vessels were impressed with the excellent state in which the vessels has been maintained,” he said.

Randy Wall, president and COO commented on Ritchie Bros. successful marketing efforts toward the vessels’ auction, which according to the company, attracted tens of thousands of potential buyers from around the globe; several hundred of whom were engaged in detailed discussions prior to the auction. According to Wall, “There were seven groups from North America, Asia and the Middle East, who cleared our (Ritchie Bros.’) financial screening process, made the mandatory $2 million deposit and registered to bid at the auction.”

Maritime Today


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

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

Ship Sales

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

Samsung Heavy Loses $4.6-bln FLNG Order

South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied

Japan wants Australian Explaination for Failed Sub Bid

Japan wants Australia to explain why it decided not to pick a Japanese design for a new fleet of submarines choosing instead a proposal from France's DCNS. "The decision was deeply regrettable,

Passenger Vessels

Norovirus Outbreak on Fred. Olsen Cruise Ship

An outbreak of the norovirus stomach bug has sickened 160 people aboard a Fred. Olsen Cruise Lines ship docked at Norfolk, Virginia, U.S. health officials and the company said on Friday.

Royal Caribbean's Revenue up 5.6%

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's

Fincantieri Orders Heat Power Systems for Cruise Newbuilds

Italian shipbuilding group Fincantieri has selected Climeon’s heat power system Climeon Ocean for its energy efficient solutions, purchasing six Climeon Ocean 450M

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.0642 sec (16 req/sec)