Crystal Cruises Faces Uncertain Future (updated: Crystal Cruises Shut Down)

Crystal Cruises Faces Uncertain Future (updated: Crystal Cruises Shut Down)

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.

Crystal Cruises' double-wide Crystal Mozart

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 Cruises passengers explore Antarctica

Crystal passengers explore Antarctica during expedition ship Endeavor’s soon-to-be cut short inaugural season. * Photo: Crystal Cruises

HERE, in my reporting for Seatrade Cruise News, I asked half a dozen senior cruise industry executives if Crystal has a future?

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.

900-pax Crystal Serenity

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 on the Moselle

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.

Crystal Cruises brand-new expedition ship Crystal Endeavor

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.

John Roberts aboard Crystal Cruises new Crystal Endeavor

In happier days, John Roberts aboard the new 200-pax Crystal Endeavor a few months ago. * Photo: John Roberts

 

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About The Author

Anne Kalosh

Anne Kalosh has written about cruises for decades and her favorites involve small ships. She is the editor of Seatrade-Cruise.com and senior associate editor of Seatrade Cruise Review.

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