Cruise & Maritime Voyages Enters Administration

The coronavirus pandemic has inflicted severe damage onto the cruising industry, as previously discussed on Sail Maluku Archipelago. It’s resulted in profit losses soaring for all companies operating a lineup of cruise ships, with some brands entering bankruptcy or administration. It’s been confirmed that Cruise & Maritime Voyages from the United Kingdom has been classified into administration status.

Cruise & Maritime Voyages is being managed by Duff & Phelps Ltd during their administration status. CMV cannot return to standard operations until outstanding debts are recovered by creditors, with the refusal to pay those debts allowing for legal action to be pursued by Duff & Phelps Ltd. It’s known that Paul Williams, Edward Bines, and Phil Dakin from CMVs financial creditors will manage their case.

Duff & Phelps Ltd provided details on their management protocols during administration status. It’s known that Cruise & Maritime Voyages offices in France, Australia, the United States, and Germany have postponed operations for the foreseeable future. This prompted concern amongst travellers that’d purchased packages with CMV for 2020. Cruise & Maritime Voyages clarified to customers that funds would be returned through the “Association of British Travel Agents”.

The announcement of their administration status has severely disappointed South Quay Travel Limited (Operators of Cruise & Maritime Voyages). The brand was set to unveil two new ships in their lineup, bringing the total number up to eight. It’s suspected that CMV will be forced into selling a portion of their cruise liners by Duff & Phelps Ltd. Details on the outstanding debts owed by Cruise & Martine Voyages haven’t been details. Higher valuations could prompt their entire lineup to be sold-off, avoiding legal action from their managing creditors.

Troubles Began in June

June marked the month where Cruise & Maritime Voyages began experiencing setbacks from the COVID-19 pandemic. Five of their vessels were detained by the UK Coastguard Agency, which came after the UKCA located expired employment contracts that were outdated by twelve months. When Coastguard Agents questioned illegally-employed personnel, where it’d be revealed that Cruise & Maritime Voyages hadn’t paid their workforce for twelve months on five of their ships. This included the Marco Polo, Astoria, Columbus, Astor, and Vasco da Gama.