Island Princess Cruises is seeking funding to enhance our capabilities by purchasing a larger vessel for our operations here in Stuart FL, selling our existing 128 passenger vessel in exchange for a 250 passenger vessel.
We have identified a vessel suitable, the Mountaineer Star.
Cost to purchase $250,000 with an estimated $750,000 to upgrade the vessel to extend its life to approximately 20 years.
We are looking for a strategic partner to help us secure a loan for the above amount. An SBA lender who specializes in maritime matters has expressed interest in proving funding for this acquisition.
The larger vessel would allow for larger weddings and also the ability to begin offering weekly dinner cruises.
Since purchasing the company we have increased annual revenue by over 40% and are confident this vessel would take the company to the next level.
The company is managed by husband and wife team, Capt. Chris and Emilia Hammond. Capt. Chris is licensed as a ships master of any gross tons upon oceans and holds an MBA in Shipping & Logistics. He has been involved in the small passenger ship industry since 1999.
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