A court in the city of Madeira in Portugal has ordered that a cruise ship currently in long-term lay-up be put up for sale via sealed-bid auction.
The object of the auction is the locally-registered Funchal, which has been owned by local ship management company Teamson following its purchase in April 2021.
Built in 1961, the ship was previously operated by Portuscale Cruises but has spent most of her time at berth in the Port of Lisbon over the last 15 years.
The court said the sale of the ship was part of ongoing insolvency proceedings against Teamson.
Viewings of Funchal are scheduled for September 18. Interested buyers must submit their written bids no later than September 30.
The opening of bids will be held on board the ship on October 9. Teamson's assigned administrators said that the vessel will be sold "as is" with the minimum bid amount set at €802,354 (US$932,034).
Teamson had the ship brought to a dry dock Lisbon shortly after purchase in 2021 in preparation for her conversion into a floating hotel. However, the company was unable to complete the project.
The administrators have assured that the ship is free of asbestos and possesses the permits necessary for hotel operations.