United Kingdom
United States
Asia Pacific
Cruise line CMV in last-ditch rescue talks
Independent UK cruise line Cruise & Maritime Voyages could file for insolvency as early as this week if its last-ditch rescue talks fail, according to national news reports.
Essex-based CMV is understood to be in discussions with VGO Capital Management, a specialist situations investor with expertise in the shipping industry, after being turned down for a government-backed bank loan.
Sky News reported unnamed sources saying an insolvency filing was possible this week if the talks, which started weeks ago, fail to progress satisfactorily.
A CMV spokesman said this morning: "Financing discussions involving several parties are still ongoing and we are not prepared to make any further comment at this time."
VGO could not be contacted for a comment.
CMV specialises in no-fly cruises from the UK on relatively small ships, which it operates under charter. Five of its seven ships were detained last month by the Maritime and Coastguard Agency following complaints about late pay and expired crew contracts.
Some crew members from Asia had been on board for more than 12 months but were unable to fly home due to Covid-19 travel restrictions.
At the time, a CMV spokesman was quoted as saying that the regulatory breaches were the consequence of an ‘unprecedented emerging humanitarian issue’.
CMV has suspended all cruises until 25 August due to Covid-19-related travel restrictions. The UK Foreign Office recently advised against all travel on cruises ships, based on advice from Public Health England.
The cruise line did not have any cases of Covid-19 among passengers on board its ships prior to sailings being suspended in March.
CMV re-joined CLIA as a regional member of Europe and Australasia in January after quitting three years ago.
By Linsey McNeill, Editor (UK)
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel