Olympia Countess resold at new auction

Feb 4, 2004
Author: P&S


The auction sale of the arrested cruise ship Olympia Countess, conducted in Durban last week (29 January), was not accepted by the Durban High Court and a new auction was subsequently held yesterday (3 February) in the offices of attorneys Shepstone & Wylie.

In terms of the sale order all parties taking part had to have a physical representation at the auction and according to auctioneer Captain Roy Martin of Admiralty Sales a further five bidders took part, including a strong interest from the Israeli operator Caspi.

The ship was eventually sold shortly before 18.00 to Maximus Navigation (Majestic International, the original ‘successful’ bidder) for the amount of USD 9.65 million.

This was USD 3.55m up on last week’s highest bid. The sale has now been confirmed and it is understood that the new owners will shortly sail the ship for Cyprus to undertake refitting.


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