Bidding War Comes to an End
The heated bidding war for what was left of American Classic Voyages' Delta Queen Steamboats abruptly came to an end at the beginning of May with Delaware North Companies sealing the deal for the vessel pair.
As originally reported in the May 2002 issue of MR/EN, (see Delta Queen Makes A Comeback, page 3), Chicagobased Waveland Investments and New Orleans-based Uniworld had submitted bids for the two steamships - Delta Queen and Mississippi Queen - the two remaining ships of the line, which declared bankruptcy this past October.
Waveland submitted its $3.75-million bid, with intentions to take over the vessels following their auction on May 3.
Delaware North, however had other plans.
The Buffalo, N.Y.-based company, which specializes in hospitality, retail and food service, acquired successfully all the assets and business of the Delta Queen Steamboat Co. — including the two above-mentioned steamboats — as well as the American Queen.
The company plans to assume ownership of the brand, following federal regulatory approval within the next month.
According to Delaware North, the company plans to keep the steamboats' base of operations in New Orleans, along with its reservation and sales center. In addition, the company plans to interview and retain the majority of the operation's employees.
Other stories from June 2002 issue
- Bollinger To Acquire Halter Marine page: 6
- Bidding War Comes to an End page: 6
- Jotun And NOF Marine Coatings Join Forces page: 8
- Thunder Horse Will Get Wartsila Generators page: 10
- United Defense to Acquire United States Marine Repair page: 10
- New Order For MAN B&W Diesel ME-Engines page: 12
- Fares Al Salam Parts The Red Sea page: 14
- Redundancy The Next Watchword? page: 20
- Cargo Handling's New Force page: 22
- A Naval Architect's Look At Design Trends page: 24
- Conoco Leads The Way For GOM Shuttle Tankers page: 27
- Daewoo Shipbuilding To Build, Refit LNGs For Exmar page: 27
- Navy League Comes to NY for Centennial Celebration page: 28
- Prospects Abound, But Where's the Money? page: 32
- OPA '90 - The Oil Pollution Act of 1990 page: 33
- Container & RoRo Tonnage — Non-Contiguous Liner Trades page: 35
- Matson Signs $220M Contract With Kvaerner Philadelphia page: 38
- GL: Exporting German Precision page: 40
- World Shipbuilding to Fall Slightly page: 44
- Tanker Market is Solid page: 45
- Bergesen Releases 1Q Results page: 46
- OMI Announces 1Q Results page: 47
- MAN B&W Turbocharger Technology Unveiled page: 49
- Answering the Call from Above page: 50
- Thrane & Thrane Offers Capsat Fleet77 page: 53
- Crisis Management and the Integration of Vessel Tracking Technologies page: 60
- Rear Admiral Pluta Redefines Maritime Security page: 64
- Ship Graveyard page: 68
- Intertanko's Sustainable Challenge page: 72
- German Barging: Over the Divide page: 76
- Blohm+Voss: 125 Years Young page: 80
- Thordon Makes Inroads With COMPAC Shaft Bearing page: 90
- Halifax Lays Keel For First of Two OSV's page: 91
- Owners Approve White Rose Oilfield page: 91
- Voyage Data Recorders page: 92
- Titan Re-Floats IMaersk La Guaira page: 96
- Austal USA Enters Repair Market page: 96
- Maritime Industry Remembers Nealis page: 97