FUNCHAL
Latest ports
Latest Waypoints
Latest news
sold to Breakers
Sold to Aliaga Breakers 808.265 USD https://www.seereisenportal.de/news/kreuzfahrt-news-schifffahrtsnachrichten/nach-elf-jahren-aufliegezeit-ms-funchal-fuer-808265-euro-zum-abbruch-verkauft/
Sealed bids to be opened in a week
The 'Funchal' is currently being auctioned as part of the insolvency of the owner. Shipping aficionados and members of the Portuguese community were rallying with a last-minute hope to save the ship, after the Madeira Judicial Court has ordered it to be sold in a sealed-bid auction as part of the liquidation of the company Teamson, her last owners, which was linked to Brock Pierce, an American cryptocurrency entrepreneur, who acquired the ship in 2021 for a price of approximately 1.6 million euros. The court and insolvency administrator opened the 'Funchal' on Sep 18 for inspections by potential bidders. Interested parties had until Sep 30 to submit sealed bids. They were to be opened on Oct 9, with the administrator highlighting that the buyer got the ship free of debts and encumbrances, but would take over the expenses immediately. Minimum bids were set at 802,354 Euros ($921,000), putting the 'Funchal' in the scrap market. The insolvency administrator highlighted that before the current owners stopped work, the interiors had been stripped and were free of asbestos and other hazardous products. They also obtained a license for the vessel to operate as a hotel on Portugal’s Tagus River.
Laid up cruise ship to be auctioned
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.
Upload News