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Riverbarge Cancels 2009 sailings

 
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Old 01-07-2009, 04:09 PM
 
Join Date: May 2006
Location: Cincinnati, Ohio, U.S.A.
Posts: 1,567
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*UPDATED: RIVERBARGE ceases/Back in 2010?
Steamboating colleagues:
A business communication/financial report arrived today RE: RIVERBARGE ceasing operation that many in the 'loop' may already know. Possibility of a return in 2010 but at present laid up with "bookings for 2009 being closed." Rising costs and "soft bookings" were attributed. An escrow account is established with the Whitney National Bank for all payments for cruises overseen by the Federal Maritime Administration to be made available for processing. "No banktuptcy" of the company is indicated. The 196 RIVER EXPLORER had 48 cruises in 2009. The 730 ft. 3,000 hp vessel was built in 1998. The Galveston, TX stop was devastated by Hurricane IKE in September.

RIVERBARGE ceased running six weeks following MAJESTIC AMERIC LINE sailing it's last cruises with seven boats on American inland waterways. Two of the remaining boats running are CRUISE WEST's 96-passenger SPIRIT OF '98 and 84-passenger SPIRIT OF DISCOVERY on the Columbia and Snake Rivers. Cruise lines/vessels in general feeling the hit from the continuing financial crisis here and abroad with slumping revenue along with reduced financial projections. A number of 'blue water' ships altering marketing plans and schedules with redeployment to more lucrative markets. One cruise line reports difficulty with lagging bookings for an 'inaugural' cruise.

Good luck and best wishes to them all for future better times.

Coal Haven Landing, Ohio River.
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