Page 3: of Maritime Reporter Magazine (May 2002)

News

U.S. Navy: AMCV Ships

Are No Go

Subsequent to recent reports that the

U.S. Navy had a vested interest in the half-completed cruise vessels for Amer- ican Classic Voyages now-defunct U.S.

The USS Coronado (AGF 11) was to have been replaced by one of the partially-built AMCV cruise ships for U.S. Lines for the U.S. Navy's replacement Joint Comand ships.

Lines, the Navy has confirmed that it is no longer interested in pursuing the ves- sels, which are currently at Northrop

Grumman in Pascagoula, Miss.

According to Adm. Vernon Clark, the

Navy had reached the decision after its engineers examined one of the ships at the yard.

Clark confirmed the Navy's decision when he appeared before the Seapower

Subcommittee of the Senate Armed Ser- vices Committee by simply stating that the ships were not suitable for Naval use.

Delta Queen Makes

A Comeback

Following the decision to enter into bankruptcy this past October, American

Classic Voyages has agreed to sell two of steamboats — Delta Queen and Mis- sissippi to Chicago-based investment firm Waveland Investments LLC for $3.75 million. The company, which is privately-held, plans to take over the boats, effective next month.

Mississippi Queen, which ceased operations in October, will resume its itinerary on May 7, while Delta Queen, which halted its schedule in January will begin sailing again on August 26.

While the sale of the vessels was con- firmed this past weekend, there is still a possibility that the vessels could be passed off to another buyer when they are auctioned off in Chicago on May 3.

Uniworld to Bid for

Delta Queen Steamboat

Uniworld intends to bid for the assets of New Orleans-based Delta Queen

Steamboat Company. The assets include the Delta Queen Steamboat trademarks and logos plus the Mississippi Queen and Delta Queen, the classic American river steamboats. Uniworld operates its

Europe river cruises through its wholly owned European subsidiary Global

River Cruises. With 15 ships under own- ership or long-term lease. Global River

Cruises is Europe's leading river cruise line. Uniworld's president and CEO,

Serba Ilich, said he would locate the

North American headquarters of Global

River Cruises in New Orleans to take advantage of the synergies presented by the acquisition of Delta Queen Co.

HDW Stake To Go

To MAN Unit

A unit of Germany's MAN AG con- firmed that it would buy a 15 percent stake in Howaldtswerke- Deutsche

Werft (HDW) by October 1.

The move follows a surprise takeover of the shipyard by U.S.-based One Equi- ty Partners last month who freed the yard from the control of ailing engineer- ing firm Babcock Borsig.

The head of MAN unit Ferrostaal AG, reportedly stated that the firm agreed to buy a 15 percent stake offered by One

Equity soon after it gained control of 75 percent of HDW's shares.

Progress creates success.

Leading technology from Liebherr.

LIEBHERR-WERK NENZING GMBH

P.O. Box 10, A-6710 Nenzing

Tel. +43 5525 - 606 - 280

Fax. +43 5525 - 606 - 448 [email protected] www.liebherr.com

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May, 2002 3