Piraeus Harbour, Athens, Greece

We were contacted by a venture capital firm regarding a hull that was being stored in Piraeus harbour Athens, Greece. The ship was originally commissioned to be built for the president of Romania, (Nocolae Ceausescu). The ship in question was half completed when President Ceausescu and his wife were executed in 1989. Since then the ship had been stored in an uncompleted state for several years in the harbour while the trials for misappropriation of public funds along with other charges against the President determined what to do with holdings of this nature. Once discovered most of these holdings referred and were returned back to the Romanian Government. Once the ship was cleared of title and a purchase agreement negotiated we met with maritime inspectors to inspect the hull and the rest of the ship in its entirety. The vessel was then cleared and approved for transport. The transaction was approved for the ship to be completed and purchased by the client with the financial assistance of the Venture Capital firm. It was the client’s intention to transform the ship into a Private cruise ship to be used within the Greek islands.

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