Crystal Cruises Shut Down
By Anne Kalosh.
Feb 10, 2022 Update: Crystal Cruises has completely stopped all cruise operations, and the fleet is laid up. The sad news is that this is likely the end of the line.
Updates from SeaTrade Cruise News about the Crystal Cruises Shut Down
Feb 15, 2022 — Manfredi Confirms his Quest to Buy Crystal Cruises
https://www.seatrade-cruise.com/finance/manfredi-lefebvre-confirms-his-quest-buy-crystal-cruises
Feb 14, 2022 — Crystal Cruises is Done, Assignee Appointed to Handle Liquidation
https://www.seatrade-cruise.com/finance/crystal-cruises-done-assignee-appointed-handle-liquidation
Feb 8, 2022 — Crystal Cruises’ Shutdown Appears Imminent
https://www.seatrade-cruise.com/finance/crystal-cruises-shutdown-appears-imminent
Feb 5, 2022 — Crystal Cruises Ships Reported Under Arrest in Freeport, Endeavor has Departed Ushuaia
https://www.seatrade-cruise.com/legal-regulatory/crystal-cruises-ships-reported-under-arrest-freeport-endeavor-has-departed-ushuaia
Feb 4, 2022 — Crystal Endeavor Disembarks in Ushuaia without Incident
https://www.seatrade-cruise.com/ship-operations/crystal-endeavor-disembarks-ushuaia-without-incident
Jan 21, 2022
Things are looking cloudy for Crystal.
One of cruising’s top luxury brands for decades, Crystal Cruises faces an uncertain future with the insolvency of its parent company, Genting Hong Kong.
Suspended Sailings
This week Crystal said it would suspend ocean and expedition sailings through April 29 and river cruises through May to “evaluate options.”
Crystal Serenity and Crystal Symphony, both sailing in the Caribbean, and expedition ship Crystal Endeavor in Antarctica, are ending their current voyages in the coming days.
The five river vessels, including the double-wide Crystal Mozart and four smaller, newly built sister ships, are already laid up in Europe now in the off-season.
The reality is that Crystal’s fate will be decided by joint provisional liquidators following Genting Hong Kong’s filing to wind up its business, which also includes big-ship brands Dream Cruises and Star Cruises.
The double-wide Crystal Mozart cuts a path through Budapest. Like the rest of Crystal’s river fleet, it’s laid up amid uncertainty. * Photo: Crystal Cruises
Maritime Lien
Showing how serious things are for Crystal, on Friday a first creditor, Singapore-based Peninsula Petroleum, secured an arrest warrant for Crystal Symphony from a Miami judge over unpaid fuel bills.
Peninsula tallied $2.1 million owed for bunkering Crystal Symphony and Crystal Serenity and $1.3 million for Genting Hong Kong’s SuperStar Libra.
Crystal Symphony was due to disembark passengers in Miami the following day but instead is staying over at nearby Bimini in the Bahamas, where Genting has a dock and a resort.
This should be a safe haven for the Bahamas-flag ship.
But Crystal Serenity and Crystal Endeavor could be vulnerable to creditors when they put into other ports.
Particularly Crystal Endeavor, coming off its current Antarctica expedition, could be served (in the legal sense) in remote Ushuaia, Argentina.
Crystal passengers explore Antarctica during expedition ship Endeavor’s soon-to-be cut short inaugural season. * Photo: Crystal Cruises
All of them think it does, under different ownership.
But it’s to be seen if Crystal will remain whole or be broken up, with its assets scattered among different buyers.
There’s speculation about whether Crystal could continue to be positioned in the luxury segment or perhaps moved down a notch.
And nobody can tell how long it may take to be running again under new investors.
Aging Ocean Ships
Some think the brand’s future lies in its pair of ocean ships.
But Crystal Symphony, built in 1995, and Crystal Serenity, in 2003, though beautifully kept up, face competition from a much younger crop of ultra-luxury ships.
To renew the ocean fleet, a new investor would need deep pockets and the ability to secure a shipyard slot.
The 900-pax Crystal Serenity. * Photo: Crystal Cruises
River & Expedition Cachet
Others see the river fleet being hived off, perhaps to an existing river operator or to an ocean company that wants to branch into river cruising.
Crystal Mahler graced the Moselle in better days. * Photo: Crystal Cruises
Grande dame on the rivers Crystal Mozart was essentially rebuilt before its introduction by Crystal Cruises in 2016. And the lavishly appointed, all-suite sister vessels Crystal Mahler, Crystal Bach, Crystal Debussy and Crystal Ravel are just a few years old.
The brand-new expedition ship Crystal Endeavor may hold special appeal in this fast-growing sector, with one source predicting a bidding war.
The brand-new expedition ship Crystal Endeavor may have many suitors. * Photo: Crystal Cruises
It will be the liquidators’ task to determine whether more money can be made from keeping the fleet whole or selling individual assets.
For the many Crystal fans — and they’re an extremely loyal breed who absolutely love the brand — the coming weeks and months may be nail-biters.
RELATED: John Roberts recently sailed aboard the new Crystal Endeavor and reviews it here.
In happier days, John Roberts aboard the new 200-pax Crystal Endeavor a few months ago. * Photo: John Roberts
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HEIDI SARNA
