TORONTO — Following the folding of luxury line Crystal Cruises earlier this year, reports have now surfaced that its two oceangoing ships have sold for a combined US$128 million via auction.
According to Bahamas newspaper The Tribune, The Crystal Serenity was sold for $103 million while the Crystal Symphony went for $25 million. Both ships have been under arrest in The Bahamas since news broke in February that Crystal has ceased operations, following the bankruptcy filings of parent company Genting Group.
The buyers were listed simply as companies CSE Ltd. for the Serenity, and CSY Ltd. for the Symphony. According to Tribune Business, CSE stands for ‘Crystal Serenity’ and CSY for Crystal Symphony, and are described as “special purpose vehicles (SPVs) or entities specifically created to acquire, and hold, the two now-former Crystal Cruises vessels.”
The sale of both ships reportedly closed this week. According to The Tribune, sale proceeds will be split amongst Crystal’s various creditors.
