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The Nakheel hotel division are the official owners of the QE 2 which could cast doubts on her future !
US $ 3.5 Billion of bonds are due to be re-paid on December 14th 2009 by the Nakheel property division !
Property values are said to have crashed 47 % since last year !
Obviously with things not going as planned she is something they could well do without.
It was reported in the Cape Argus last month that they had reached agreement over the docking of QE2 in Cape Town (though they didn't say where) and she was expected to arrive in CT in late January. However it seems clear that this is not going to happen, first we are only 6 months out from the World Cup, the draw takes place on the 4th/12 and once the draw takes place everyone will then buy their tickets and book flights, accommodation etc. QE2 has not listed as an official accommodation venue, no marketing has been done, you cannot book her even if you wanted to - she has unfortunately missed the boat in terms of the World Cup, thus I think the plan for Cape Town must have been ditched.
Bonds can be refinanced !
And 60 % where i live !
Ok, let's get serious for a minute.
Nakheel is, how can I put this, you give a bunch of kids a suitcase of money and say go spend it, guess what, the will !
People were throwing money at Dubai corporations a few years ago, the laws of economics say that it will balance out and it will.
Now saying that, there was an offer earlier this year made for the QE2 by an American business owner.
The offer was accepted then rejected, then accepted and guess what, rejected.
At this point the business man recalled his people and went about making a couple of billion more.
I am actually thinking of making a couple of calls to see if he (meaning his wife) has an interest in it.
Sounds crazy huh, welcome to the wonderful world of Billionaires who don't mind dropping a couple of hundred million on something to make their wives happy.
But in the grand scheme of things, the QE2 is but a small piece, the only thing I hope is that she is not forgotten in what will be a big shake up.
We do have some good sources of news for my other website and most are reliable so I share them on here !
It was also reported in the UK today but we got the link to the report first !
quote:Originally posted by jetwet1:I hope is that she is not forgotten in what will be a big shake up.
If it's a situation of putting together a financial rescue package for Dubai World, new money is unlikely to be available for investment in conversion of QE2 for some future purpose that might or might not be a money-spinner.
What's going in favor for the ship just now is that it is in good condition, having recently beee serviced in drydock. But the longer term picture seems pretty cloudy.
As to the QE2, no ideas now, my old boss has moved on to buying mega resorts again by the looks of it.
Picture on my other website under bridge cams..
quote:Originally posted by Neil - Ex P. & O. S. N. Company.:Hi jetwet 1We do have some good sources of news for my other website and most are reliable so I share them on here !It was also reported in the UK today but we got the link to the report first !
I don't doubt it, it's just right now my work life is taking over my personal life, after a year of rest and relaxation I am now back to the life off running a casino and my current boss has plans to grow, meaning I am catching news whenever, where ever.
On top of that my old boss just put in a bid for a casino here, that resulted in a phone call to me.
So now I am back to working the crazy hours and dealing with stupid problem (god I love it though) but my spare time has all but disappeared.
I did shot off the story of the QE2's possibly being up for sale to the old bosses wife, but honestly I don't hold out much hope, when you mess someone around who is worth $50 billion + they tend to tell you to go F yourself when you go back to them for help.
There's a lot of debate about her future here too.
[ 12-02-2009: Message edited by: Chris ]
quote:Originally posted by joe at travelpage:Or here...
Europa's webcam still shows this image as well. Interesting that they keep QE2 all lit up at night.
The status of the QE2 has changed recently:
Status of ship : Converting/Rebuilding (since 26-11-2008)Last update : 17-11-2009
The update was to notified that the status has changed ... one year earlier.
Source: Equasis
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