Regency Cruises was a Greek cruise company operating former ocean liners in the late 1980s and early 1990s, formed by Anastasios Kyriakides and William Schanz.
History
The company began in 1984 with their first ship, the Regent Sea, a former transatlantic ship built for Swedish American Line.
In 1986, the company bought 3 container ships with the intent to completely rebuild into cruise ships. The Axel Johnson, was to be renamed Regent Sun, and the Annie Johnson, was to be renamed Regent Moon.[1] Regency Cruises would not proceed with the conversions, and the ships would be sold to Costa Cruises. The third vessel Margaret Johnson, intended to become Regent Sky, instead was sold to the breakers, with her steering gear and engines used for the refit of into the recently purchased Regent Star.[1]
In 1988, the cruise line would purchased the Royal Odyssey from Royal Cruise Line, and rename the ship the Regent Sun. In 1989 the line purchased the unfinished hull of Stena Baltica of Stena Lines with the intent that the ship would become the lines first new build. Completion would be delayed many times, and the ship would only reach 60% completion by the time Regent went bankrupt.[2] By 1992, the line had six ships, adding Regent Spirit and Regent Rainbow to the fleet that year.[3]
In 1994 the line purchased the former car ferry M/S Canguro Verde, renaming her the Regent Jewel and invested a significant amount of money for the acquisition and refit.[4]
In 1995, Regency Cruises arranged to charter the Princess Cruises ship Fair Princess. Regency planned to operate the ship as the Regent Isle for the start of the 1996 cruise season.[2]
Bankruptcy
On Oct. 29, 1995 Regency Cruises announced its shutdown.[5] Warning signs were seen when several sailings were canceled because the line did not receive financing for the purchase of Princess Cruises’ Fair Princess in mid-October. Travel agents were also seeing late commissions on bookings, the companies president Ron Santangelo had resigned, and the Regent Rainbow had been arrested in Tampa.[4] A primary contribution to the bankruptcy was the large acquisition and refit investment of $31.4 million in 1994 for the Regent Jewel.[4]
The cruises ships Regent Star, Amerikanis and Mediterranean Sky laid up in Eleusis Bay in 2000.
Following bankruptcy, half of ships would go on to sail for other cruise lines, while the Regent Sea, Regent Sun and Regent Star would never end up returning to service, and the under construction Regent Sky would never be completed, eventually being scrapped in 2012.[6]
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