Qe2

Old Cunarder
9th February 2010, 21:26
I noticed in the financial press over the weekend that the Dubai owners of QE2 will be selling her; in what amounts to a "fire sale" of their assets. Any speculation as to her future now? Surely, the breakers can be the only outcome?

shiphead
9th February 2010, 22:33
I have been reading in yesterday's newspaper (Monday 8th February) that Queen Elizabeth 2 is to be sold by her Dubai owners to ease their debt.

Can anyone tell me if this is true and if so supply me with any more information about it please?

Robert(A)

fred henderson
10th February 2010, 12:27
As always, we need to take care with press reports. The article I read stated that as DP World have problems rolling over their debts when repayment is due, they were examining the sale of all valuable investments and assets to meet their debt repayment schedule. The article carried a photo of the QE2, but there was no mention of the ship in the text.

It is possible that QE2 will be one of the assets to be sold, but it is unlikely to be a high priority, because of her low value in relation to the size of the debt.

Fred (Thumb)

Brett
10th February 2010, 13:11
I noticed in the financial press over the weekend that the Dubai owners of QE2 will be selling her; in what amounts to a "fire sale" of their assets. Any speculation as to her future now? Surely, the breakers can be the only outcome?

Yes apparently so...read www.ports.co.za agree breakers seem to be the only outcome...shame on them !

shiphead
10th February 2010, 18:29
Thank You for your reply's.

I hope if she is sold she doe's not end up at a breakers yard that would be a very sad ending for her. Espicially for myself who live's on the river Clyde so she ment quite a bit to me when she came back to the Clyde on her last three visits.

Hope she has a happy ending.

Robert(==D)

D Sutton
11th February 2010, 19:55
As always, we need to take care with press reports. The article I read stated that as DP World have problems rolling over their debts when repayment is due, they were examining the sale of all valuable investments and assets to meet their debt repayment schedule. The article carried a photo of the QE2, but there was no mention of the ship in the text.

It is possible that QE2 will be one of the assets to be sold, but it is unlikely to be a high priority, because of her low value in relation to the size of the debt.

Fred (Thumb)

I read an article a few days ago similar to what fred has written, it was suggesting that they were splitting up some of the "holding companies" I guess to reduce the debt into smaller sums, there was no mention of QE2 in that article. They would get a fraction of what they paid with scrap value, they will still want to maximise return from their investment.

shiphead
31st May 2010, 08:57
Can anyone give me an update to where the QE2 is know and what the future holds? Or is it just the same as in the earlier posts in this thread?

Robert(A)