Canada’s One Ocean Expeditions Cruise Line Collapses

CruiseCritic

After months of uncertainty and cancelled cruises, Canada’s One Ocean Expeditions (OOE) has declared itself insolvent, according to CruiseCritic. 

The unfortunate saga had its beginnings in AUG 2018 when the company's chartered Russian research vessel, Akademik Ioffe, ran aground in Nunavut.

This started a chain of events which ultimately led to the cancellation of charter contracts and two of the line's three ships withdrawn to Russia. OOE was faced with the task of finding alternative berths for its many booked passengers, some of whom were able to be transferred to the line’s remaining vessel, RCGS Resolute.

However, enroute to Antarctica, the Resolute was arrested as a result of claims by creditors and remains tied up in Rio de Janeiro where it continues to accrue berthing fees. Passengers were disembarked and sent home.

“One Ocean Expeditions has been working diligently to restructure the business in an effort to avoid entirely shutting down so that we can continue to serve you, our valued partners and customers, and provide further options,” said a statement issued by OOE on 6JAN.

Hurtigruten has offered "compassionate fares" to displaced pax, but was quick to point out this offer was not to be construed as a "bailout."

OOE is now offering “a potential refund of a portion of monies paid… in accordance with Canadian corporate law.”

The declaration of insolvency places a new burden on pax, many of whom are owed $20,000 or more, trying to claim for cancellations with their insurers.

CruiseCritic
https://www.cruisecritic.com/news/4955/