A very sad day.

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REGAL CRUISES TO CEASE OPERATIONS

Palmetto, FL (April 28, 2003) Regal Cruises announced that it is ceasing all cruise operations as of today. The Company has cancelled all upcoming cruises on the REGAL EMPRESS beginning with this Thursday’s four - day cruise to Mexico.

The Board of Directors of Regal Cruises has issued the following statement:

“We deeply regret having to take this action, but we had no other choice as the Company has been unable to continue operations after one of its suppliers, Motor-Services Hugo Stamp, Inc., arrested the REGAL EMPRESS on April 18, 2003.

The Company had hoped to negotiate a resolution of this unfortunate action through a sale of its business, which the Company has been pursuing for some time. In light of the world-wide decline in travel and tourism and the short time frame within which the Company could conclude its ongoing sale negotiations necessitated by the arrest, it was unsuccessful.”

The Company is currently gathering information to allow it to file for an Assignment for the Benefit of Creditors in State Court shortly. This would seek to accomplish an equitable distribution of the assets of Regal Enterprises, Inc. to its creditors. Creditors who provided goods and services to the Regal Empress may participate in the arrest proceeding pending in Federal Court.

The Company is deeply sorry for the inconvenience the cancellations of these cruises will cause its passengers. Regal Cruises is now making every effort to contact passengers on the upcoming sailings to advise them of the cruise cancellations.

Further details regarding passenger refunds will follow shortly.

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Well, I guess this is it. In the US, the segment of the industry that Bob Dickinson called the "bottom feeders" is now really gone. I guess Imperial Majesty and OCEANBREEZE still exists... And NORWAY is rapidly sliding into that market segment despite being owned by a major cruise line... But that's it.

The Regal collapse came as somewhat of a surprise, I think. I suppose I figured they'd go sooner or later, but I assumed it would be an organized cessation, as in, "we'll finish this year's schedule and that's it" a year or two or three down the road. Regal, at least up until very recently, always seemed to be doing well enough... Certainly they survived long enough to build trust (which, judging by their ownership, was to me always felt rather misplaced)... But perhaps they were not doing as well as I thought! Obviously, they have been having money problems, or they would have been able to pay their bills.

I guess it just goes to show that a cruise line with an older ship (or a few older ships) run on a shoestring budget aiming at the bottom of the market just doesn't work any more in these days of cheap cruises on new megaliners owned by huge conglomerates.

It's a sad thing. REGAL EMPRESS was one of the last connections with both the ocean liner era (the ship, whose type has mostly vanished) and also with the early cruise industry of fledgeling companies with second-hand ships (the manner in which the company operated, which has also mostly vanished).

Regal Empress is economical with fuel and can be bought for less than $5 million.

Dickenson sounds vindictive to me.

[ 04-28-2003: Message edited by: desirod7 ]

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Originally posted by DAMBROSI:
I still think she will sail again.

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Originally posted by desirod7:
Hopefully Imperial Majesty can buy her. She is a perfect mate for the Ocean Breeze on the short Miami-Bahamas trips.

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Or even (not that I'd like to see this happen) replacement. She should be considerably more economical on fuel than OCEANBREEZE...

Despite that, she'll have to go in 2010 anyway, which does not make her a good purchace prospect.

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Originally posted by Keitaro:
Maybe NCL could buy her and totally rebuild her at US ship yard for US-operation. Will it work BTW?

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As any line could snap her up and run approx the same itineraries as Regal and do well for sure, especially if they Do not have a mortgage on her!!

She has a very loyal following and could do well for another 7 years!!

Who knows,she could be a perfect candidate for Imperial Majesty for sure!

Her diesels are slow, she can barely make 16 knots, requires a lot of upkeep and has a very limited range due to her fuel capacity and fresh water capacity.

The only possibility is Imperial Majesty but there is better tonnage on the market and I-M seems quite content with their one ship operation at this time.

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Originally posted by SoBe Tim:
The only possibility is Imperial Majesty but there is better tonnage on the market and I-M seems quite content with their one ship operation at this time.

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Agreed.

Incidentally, do you think there is better tonnage that IM could actually afford?

I suggest you take a cruise on the old Azure Seas very soon, because her days might be numbered...

I would hope someone steps up and decides to keep her sailing. Why can she only sail to 2010?? Is there too much wood? It was a step back in time to go on this ship. It felt like being on a ship. Watching the tugs spin her around and get her off. I don't much desire to go on some of the newest ships. I don't cruise to shop in a mall, climb rocks or ice skate. I cruise to party, feel the sea air, drink and lounge around the pool while meeting interesting new people.

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Originally posted by Dave the Wave:
I don't cruise to shop in a mall, climb rocks or ice skate. I cruise to party, feel the sea air, drink and lounge around the pool while meeting interesting new people.

To the Regal Empress, may she sail again.

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