The 'Funchal' was being offered for sale via a sealed-bid auction process. Most recently operated by Portuscale Cruises, the ship has spent the majority of the last 15 years docked in the port of Lisbon. In a notice published in the Portuguese newspaper Correio da Manhã, a court in Madeira announced that the sale was part of the insolvency proceedings for the company Teamson Lda. The company had acquired the vessel in April 2021 as part of a project that also included the 'Astoria' (which has since been scrapped). At the time, the venture was linked to a crypto investor who intended to establish a cruise operation in Portugal. According to the insolvency administrators, the 'Funchal' was being sold "as is" at its current location, with a minimum bid of €802,354. Interested parties were invited to submit written bids to a Lisbon address by Sep 30, 2026. In addition to basic contact and personal details, bidders must submit a check covering a security deposit equal to ten percent of their bid amount. While the new owners would be responsible for all costs associated with the purchase, the ship was being offered free of any debt. Prospective buyers also have the opportunity to inspect the vessel on Sep 18, 2026. The opening of the bids will take place during a public event on board the ship on Oct 9, 2026. In 2021, Teamson had the 'Funchal' moved to a dry dock in Lisbon, ostensibly in preparation for converting the historic vessel into a hotel. Although the project was never completed, insolvency administrators reported that the ship was by then free of asbestos and held the necessary permits for hotel operations. The 'Funchal' was most recently operated by Portuscale Cruises, a Portugal-based cruise line that succeeded Classic International Cruises. Founded in 2013, the company acquired the vessel while it was undergoing modernisation to meet the latest SOLAS regulations. Although the 'Funchal' initially resumed service for the new brand, operations were short-lived; the ship was taken out of service again as early as 2015. The UK-based company Signature Living acquired the vessel in 2018 with the aim of converting it into a party ship for ravers in Ibiza. Later, the company decided to have the ship towed to Liverpool to transform it into a floating hotel. However, this project was also abandoned, and the 'Funchal' remained in Lisbon.
