Cruise Talk: Delta Queen Sale

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Topic: Delta Queen Sale

Frank X. Prudent
First Class Passenger
Member # 1723

posted 03-17-2002 01:47 AM

A group of Chicago investors, Waveland LLC, has offered American Classic Voyages $3.75 mil. for The Delta Queen Steamboat Co. and its principal assets the DELTA QUEEN and MISSISSIPPI QUEEN. It appears as if American Classic Voyages is interested in selling the two steamboats to Waveland, but the U.S. Bankruptcy Trustee has several concerns over the proposed sale. These include are there other suitors, whom are they, and are there any connections between Waveland and the current Chicago based majority stockholders of American Classic Voyages. The Federal Bankruptcy Judge has ordered an emergency hearing for Monday March 18, 2002 to answer these and other questions.

God save the Queens!

Posts: 577 | From: Covington, Kentucky, U.S.A. | Registered: Dec 2000 | IP: Logged

Westerdam
First Class Passenger
Member # 2093

posted 03-18-2002 10:27 AM

My question is what about the two other steamboats American Queen and the Columbia Queen? Were these ships returned to their builders or taken over by the U.S. Government like the Independence was?

Posts: 329 | From: Waukegan, Illinois | Registered: Jun 2001 | IP: Logged

Britanis
First Class Passenger
Member # 2912

posted 03-25-2002 04:29 PM

I could get into how the bankruptcy of AMCV and the cancellation of Project America is just another example of the irreversable damage wrougt by the Clinton administration, but that would be another topic. I hope the sale does go through- anything to save the Queens! I just hope Waveland shows more foresight in regards to sxpansion programmes than AMCV did. Last I heard, the AMERICAN QUEEN was still laid up in New Orleans, haven't heard anything on the COLUMBIA QUEEN yet.

[ 03-25-2002: Message edited by: Britanis ]

Posts: 944 | From: Philadelphia, USA- former home of International Merchantile and Marine Co. | Registered: Mar 2002 | IP: Logged

Frank X. Prudent
First Class Passenger
Member # 1723

posted 03-25-2002 11:42 PM

The AMERICAN QUEEN is still laid up in New Orleans at the Robin Street Wharf and is property of the U.S. Maritime Administration (Marad). Also property of Marad are the COLUMBIA QUEEN, and the CAPE MAY LIGHT which is laid up in Green Cove Springs, FL.

As far as I know the CAPE COD LIGHT is still at the shipyard where she was built on the St. John River near Jacksonville, FL., and I have no idea as to her legal ownership. She was never formally turned over to AMCV, so she might still belong to Atlantic Shipbuilders!

I have heard that the new owners have addressed bringing out the AMERICAN QUEEN and COLUMBIA QUEEN again, but not until '03 at the earliest.

[ 03-28-2002: Message edited by: Frank X. Prudent ]

Posts: 577 | From: Covington, Kentucky, U.S.A. | Registered: Dec 2000 | IP: Logged

Marcia
First Class Passenger
Member # 1198

posted 04-15-2002 06:36 PM

Frank, Have you heard any more on this? Being from just north of Cincinnati, this is of interest to me. Just keep wondering.

Posts: 101 | From: Hamilton, Oh. U.S.A. | Registered: Mar 2000 | IP: Logged

moodus2
First Class Passenger
Member # 2414

posted 04-15-2002 07:12 PM

i have recieved a letter stating
that the delta queen and mississippi queen and business
will be auctioned on may 3,2002.

Posts: 473 | From: moodus,ct. | Registered: Sep 2001 | IP: Logged

Frank X. Prudent
First Class Passenger
Member # 1723

posted 04-15-2002 09:08 PM

There will be an auction in Chicago on May 3, 2002, and it is expected that Waveland Investments, LLC will be there to bid $3.75 million for the Delta Queen Steamboat Co. which includes the DELTA QUEEN and MISSISSIPPI QUEEN. Waveland has made its intentions clear that they also wish to bid on the AMERICAN QUEEN and COLUMBIA QUEEN. Other bidders could emerge though and take posession of the Company and its boats. It will be interesting to see what developes, and I just hope that the Ole Gals end up in loving hands.

For the latest information log on: www.saveourqueens.com

Posts: 577 | From: Covington, Kentucky, U.S.A. | Registered: Dec 2000 | IP: Logged

Namlit
First Class Passenger
Member # 1940

posted 04-15-2002 09:16 PM

Just curious:
3.75 million doesn't seem like a lot for both the Delta Queen and the Mississippi Queen. I know the Delta Queen isn't in the best condition after several years of neglect, but the MQ looked pretty spiffy when I last was aboard. Am I missing something?

Posts: 309 | From: Greene County, Indiana, USA | Registered: Apr 2001 | IP: Logged

Frank X. Prudent
First Class Passenger
Member # 1723

posted 04-15-2002 11:57 PM

I agree that $3.75 mil. doesn't seem to be much for the two vessels, but Waveland Investments LLC has committed to an additional $10 mil. to invest in the Company.

As far as the two boats, last year, the DELTA QUEEN was spit and polish. To me, it was the MISSISSIPPI QUEEN that was showing the declining fortunes of the parent company. During my two trips on the MQ during '01 I was shocked how rough she did look.

Posts: 577 | From: Covington, Kentucky, U.S.A. | Registered: Dec 2000 | IP: Logged

moodus2
First Class Passenger
Member # 2414

posted 04-16-2002 04:06 PM

now that amcv sold delta cruise
line what is the future of amcv?
will they regroup and operate
ss independence,cape cod light,
cape may light or fade away ?

Posts: 473 | From: moodus,ct. | Registered: Sep 2001 | IP: Logged

Frank X. Prudent
First Class Passenger
Member # 1723

posted 04-17-2002 01:05 AM

Boy, have you asked the $1 million question. Hopefully the bankrupt AMCV will issue an annual report to it's stockholders to explain what has been going on with the Company the past seven months. In past years it came out around the end of April or early May.

Posts: 577 | From: Covington, Kentucky, U.S.A. | Registered: Dec 2000 | IP: Logged

Frank X. Prudent
First Class Passenger
Member # 1723

posted 04-28-2002 02:33 AM

The saga of the DELTA QUEEN continues. Uniworld Travel, a Los Angeles based world-wide cruise operator, has also expressed an interest in bidding for the DELTA QUEEN and MISSISSIPPI QUEEN. Uniworld has not said if it also plans to bid on the AMERICAN QUEEN and COLUMBIA QUEEN and keep all four boats together. The auction of these vessels is to be held in Chicago on May 3, 2002.

Posts: 577 | From: Covington, Kentucky, U.S.A. | Registered: Dec 2000 | IP: Logged

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