Maritime Reporter, May 2002

<BODY> <div> 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the half-completed cruise vessels for Amer- ican Classic Voyages now-defunct U.S. The USS Coronado (AGF 11) was to have been replaced by one of the partially-built AMCV cruise ships for U.S. Lines for the U.S. Navy's replacement Joint Comand ships.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 deck.crane@lwn.liebherr.com www.liebherr.com Circle 234 on Reader Service Card or visit www.maritimereporterinfo.com HmtHii May, 2002 3 </div> <span id="lblContents"></span> <br /> <br /> <a href="http://www.digitalwavepublishing.com/" title="Digital Magazine">Digital Wave Publishing</a> </BODY>