DISCOVERY

scrapped

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beached

beached at Alang 08.12.14 Plot 120 under New Name Amen

sold to Breakers

sold to Alang breakers,arrived Gulf of Khambhät 30.11.14

All Leisure Group sells loss-making mv Discovery

All Leisure Group has sold its loss-making cruise ship mv Discovery for $5 million, less than half its value. Following the sale of the ship to Liberty Resources Inc of Nassau, the company said in a statement: “Although the consideration received is less than the current book value of the vessel, the board’s decision to sell mv Discovery to Liberty also took into account the absence of the future liabilities and other uncertainties associated with many other bids. The statement added that while several higher indicative offers were made, the weaker cash flow profiles of the companies would have meant the prospect of staged payments over several years. It said: “It was the board’s considered view that is was therefore in shareholders’ best interests to accept the lower cash offer in full and final settlement.”