Rare Host Jazzbeau Posted June 1, 2023 #1 Share Posted June 1, 2023 New article on SeaTrade: Vantage Travel's Ocean Explorer, Ocean Odyssey go into layup The news may not be as bad as we have been expecting (yet). The article says that the layups were at Vantage's request (i.e. SunStone did not repossess the ships). It also quotes a tour operator who said they placed Vantage on a pre-paid basis in 2022 but that Vantage's account is current. Finally the article says that Vantage is looking for investors (which could be good news, except that it says they have been trying to raise capital since late 2021). 1 Link to comment Share on other sites More sharing options...
Roadlamp Posted June 2, 2023 #2 Share Posted June 2, 2023 Thanks for the update. Link to comment Share on other sites More sharing options...
ATL1234 Posted June 3, 2023 #3 Share Posted June 3, 2023 See this article - all Vantage trips cancelled through at least August 28, 2023: https://consumerrescue.org/travel-troubles/vantage-travel-canceled-cruise-customer-guidance/?fbclid=IwAR2uzawAOG8qpJSX0wD9diY35tzvk57AoljeyWGCQIDTA19uot6zLc-C6zE Link to comment Share on other sites More sharing options...
Rare Host Jazzbeau Posted June 3, 2023 Author #4 Share Posted June 3, 2023 So apparently it IS as bad as we were expecting. Thanks for the update @ATL1234 Sad that a company that was so well loved is going to end as a poster child for rip-offs. Link to comment Share on other sites More sharing options...
CPT Trips Posted June 3, 2023 #5 Share Posted June 3, 2023 On 6/1/2023 at 1:12 PM, Host Jazzbeau said: New article on SeaTrade: Vantage Travel's Ocean Explorer, Ocean Odyssey go into layup The news may not be as bad as we have been expecting (yet). The article says that the layups were at Vantage's request (i.e. SunStone did not repossess the ships). It also quotes a tour operator who said they placed Vantage on a pre-paid basis in 2022 but that Vantage's account is current. Finally the article says that Vantage is looking for investors (which could be good news, except that it says they have been trying to raise capital since late 2021). My understanding is that SunStone owns the ships and charters them to Vantage. . Wouldn’t that mean that they can’t be repossessed? Not knowing the specific charter terms, it would seem like a lay up would, ant a minimum, eliminate or reduce costs of maritime crew and ongoing maintenance. The tour operator that put Vantage on a prepaid basis isn’t positive news. It means that vendor doesn’t trust Vantage to pay for services and requires advance payment before delivering their service. They don’t want to be “stiffed.” 1 Link to comment Share on other sites More sharing options...
Rare Host Jazzbeau Posted June 3, 2023 Author #6 Share Posted June 3, 2023 26 minutes ago, CPT Trips said: My understanding is that SunStone owns the ships and charters them to Vantage. . Wouldn’t that mean that they can’t be repossessed? Not knowing the specific charter terms, it would seem like a lay up would, ant a minimum, eliminate or reduce costs of maritime crew and ongoing maintenance. The tour operator that put Vantage on a prepaid basis isn’t positive news. It means that vendor doesn’t trust Vantage to pay for services and requires advance payment before delivering their service. They don’t want to be “stiffed.” They could if Vantage has stopped paying the charter fees, right? Link to comment Share on other sites More sharing options...
CPT Trips Posted June 3, 2023 #7 Share Posted June 3, 2023 11 hours ago, Host Jazzbeau said: They could if Vantage has stopped paying the charter fees, right? Repossession implies an ownership stake secured by a lien/mortgage. But it’s all just details, the ships owner now has the ships. Link to comment Share on other sites More sharing options...
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