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RMS Queen Elizabeth 2 - the story continues.

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    I can only agree with Pakarang, totally stunning images of QE2. Such a wonderful setting for her

    On a more serious note, no doubt you have all heard on the news that finances in Dubai are not the best at the moment. And it's looking like Nakheel are right in the middle of it all. Rumors have been rife in the ship loving community about Nakheel having problems, but now the problems are now being reported outside of the ship loving community.

    This quote taken from one news report.
    The Dubai government, in a brief statement issued Wednesday — on the eve of a three-day Islamic feast — said it would request the delay in Dubai World's debts, as well as those of real estate arm Nakheel, which has a roughly $3.5 billion Islamic bond coming due in December.
    And this is another report.
    http://www.reuters.com/article/ousiv...5AP1L120091126

    Really makes me wonder about the future prospects for QE2.
    Your charts, your radar, your eyes and ears - if all 4 agree, you may proceed with caution.

    Comment


      This is from an article in Timesonline today:

      Lenders to Dubai World have asked lawyers to assess their rights over the state-owned company’s trophy overseas assets, which include P&O Ferries and the QE2 cruise liner.

      A group of bondholders in Nakheel, Dubai World’s property subsidiary, appointed Ashurst, the London law firm, last Friday to advise them on their options after moves by Dubai to restructure Dubai World’s debt.

      The bondholder group, which is led by QVT, the New York-based hedge fund, accounts for more than 25 per cent of the company’s bonds by value.

      Ashurst said yesterday that the bondholder group was “in the process of considering its options”, but declined to comment further.
      I'm afraid this is asset strippers at work, only out to enrich themselves in the the true capitalist way, totally without consideration to anything else.

      Comment


        Originally posted by ombugge View Post
        This is from an article in Timesonline today:

        I'm afraid this is asset strippers at work, only out to enrich themselves in the the true capitalist way, totally without consideration to anything else.
        A lot of fancy-smancy words there in that excerpt.

        But from what I gather, a red warning flag is looming above the former grand liner. Asset strippers are dangerous when they start their work, they are liable to do almost anything to bring the money flowing in: that includes getting rid of anything that is a loosing run.

        What do we know as of now? Is she still in Dubai or has she left for South Africa and the football show which is about to start down there?
        With best regards from Jan-Olav Storli

        Administrator and Owner of CaptainsVoyage.
        Main page: http://www.captainsvoyage.com

        Surround yourself with positive, ethical people who are committed to excellence.

        Comment


          QE 2 in better days: images which came in a chain e-mail yesterday:





          With best regards from Jan-Olav Storli

          Administrator and Owner of CaptainsVoyage.
          Main page: http://www.captainsvoyage.com

          Surround yourself with positive, ethical people who are committed to excellence.

          Comment


            Love the second view. There’s my favourite restaurant in Sydney – “Quay” – directly opposite the Queen.

            Comment


              QE2 Not going to Cape Town.

              Well, it would now seem to be official, QE2 will not be going to South Africa for the 2010 world cup. This is bad news, for too long now she's been sitting alongside in Dubai, the old lady needs to be stretching her sea legs, otherwise i fear she may never stretch them again.

              http://www.dailymail.co.uk/travel/ar...tel-plans.html

              http://www.businessweek.com/ap/finan.../D9DFEICO1.htm
              Your charts, your radar, your eyes and ears - if all 4 agree, you may proceed with caution.

              Comment


                Does anyone want to buy the QE2?

                It would appear that ownership of the QE2 could be changing in the near future.

                I have just read in the Financial Times that Istithmar, the investment part of Dubai World has put Inchcape Shipping Services (ISS) up for sale with an asking price of $600m - $700m. Strong interest is already being show by several private equity groups. The paper also goes on to report that the strong interest in ISS underlines the fact that it is one of the few successful investments in Istithmars portfolio, which includes the QE2.

                The full article can be found HERE.

                So i wonder what all of this will mean for the ships future? Will a change of ownership automatically mean the end of the plans for her to be at Dubai?, and that she will be moved from her current location? or could it be that a new owner will press on with the current plans? I guess only time will tell. I am just thankful that her current owners have not started to chop her about.
                Your charts, your radar, your eyes and ears - if all 4 agree, you may proceed with caution.

                Comment


                  Originally posted by Steve.B View Post
                  It would appear that ownership of the QE2 could be changing in the near future.

                  I have just read in the Financial Times that Istithmar, the investment part of Dubai World has put Inchcape Shipping Services (ISS) up for sale with an asking price of $600m - $700m. Strong interest is already being show by several private equity groups. The paper also goes on to report that the strong interest in ISS underlines the fact that it is one of the few successful investments in Istithmars portfolio, which includes the QE2.

                  The full article can be found HERE.

                  So i wonder what all of this will mean for the ships future? Will a change of ownership automatically mean the end of the plans for her to be at Dubai?, and that she will be moved from her current location? or could it be that a new owner will press on with the current plans? I guess only time will tell. I am just thankful that her current owners have not started to chop her about.
                  I certainly would love to see the QE2 resold and relocated to either Southampton or New York City as a hotel ship. At least the chances of the ship doing well in either location is a whole lot better than at Dubai. In addition, I am also glad that the plans to drastically alter the QE2 never came to pass. What Dubai might have had planned for the QE2 would have been even worse than what was done to the Queen Mary.

                  As far as a the renovation to the is concerned, I would love to see the interiors of the ship rebuilt to its 1969 appearance, as well as the front of the ship that originally had those large windows before they covered it up.
                  Last edited by redlinekid2; February 5th, 2010, 10:16.

                  Comment


                    OOH--what an idea! The QE2 as a NEW YORK HOTEL!!! I think that could WORK!

                    Somewhere near the Intrepid.....close to the Theatre District..... or maybe even downtown, near the site of Ground Zero and the new buildings there???

                    Comment


                      I think you are dreaming - last I heard the ships condition was worsening by the day in the Arabian heat.

                      Comment


                        Originally posted by markjd View Post
                        I think you are dreaming - last I heard the ships condition was worsening by the day in the Arabian heat.
                        Any idea in what way the heat is effecting her? What are the conditions in Dubai when it comes to humidity? I guess high humidity could cause untold damage to her interiors if the aircon is not kept running. I remember seeing photos of all the mold that was growing inside the Norway. It would be horrible to think that she is sitting there without the necessary ventilation running. I certainly hope that this is not the case.

                        With regards to seeing her relocated, I would obviously love to see her back in the UK somewhere. But i am not sure where a home could be found for her. To be viable she would not only need Quay space, but she would also need car parking space. (I think an hotel without parking will be a problem). I do not think there would be anywhere in Southampton, same with central London. But East London would be a possibility i would have thought, lots of development going on there beside the Thames. She would also be very close to the 2012 London Olympics.

                        I would also be happy to see her back on the Clyde near where she was built. New York would also make a very good home for her, seeing that she was built for the New York run. It's her second home.

                        But i guess if i had to choose a place i would most like to see her, it would be sailing in and out of the Solent on a monthly basis - back at sea where she really belongs............. But that's just another dream that we ship lovers tend to have from time to time.
                        Your charts, your radar, your eyes and ears - if all 4 agree, you may proceed with caution.

                        Comment


                          Reasonable humidity at the moment - but it is more the effects of the sand and wind combined that will really do the damage to her steel hull - together they have the effect of a sand blaster.

                          Comment


                            I found Queen Elizabeth 2 in Dubai on my Google Earth. The picture date says 15. august 2009. She lays in a shipyard close to Dubai city. In another thread it is discussed if this is a scrapping yard or an ordinary yard.
                            I don't know if this is news to you, and neither I know what this means regarding her fate.
                            ---
                            Regards; Sigve.



                            Regards; Sigve.
                            ---
                            IF I WIN IN LOTTO, I COULD GO EVERYWHERE. WITH FRAM....

                            Comment


                              The Times Online today carries an article saying QE2 is for sale.

                              Comment


                                Hello,

                                It could be the best or the worst thing. Best if you consider that the QE2 has received a dry-dock recently and seems to be in good shape. Bad if you consider the huge list of things to do to complain with passengers rules and a very long stand-by in Dubai in average condition (sand, wind, inactivity and sea water)

                                It also depends on the contract between Cunard and Dubai; is the ship still allowed to cruise with passengers (with all the survey updated) ? I have never believed in a such liner converted as an hotel accommodation, only viable if it's a temporary like winter games, events, etc... After, there is always a disaffection for many reasons and the cost of static berthing is really expensive (port charges and maintenance). I'm doubtful with the Rotterdam....

                                But the business is in bad shape and steel is needed in many countries. So, i wish her good luck ...

                                Comment

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