Clipper Group Buys Two Coastal Cruise Vessels

European shipping consortium Clipper Group purchased the two coastal cruisers built for the now-defunct American Classic Voyages. Clipper took possession of the 224-passenger vessels, Cape May Light and Cape Cod Light, on May 28.

The purchase price was close to $20 million for the pair, which have sat idle since late 2001 after American Classic ceased operations. The vessels have remained under the auspices of the U.S. Maritime Administration (MARAD), which sold them.

Peter Shaerf, of AMA Capital Partners, who handled the sale for MARAD, said the ships will be operated under the U.S. flag for at least three years. Clipper Group is heavily involved in cargo shipping, but also owns 10 cruise ships and two river boats.

Clipper neither commercially nor technically manages the cruise ships, but often charters them. International Shipping Partners, which represented Clipper in the purchase negotiations, will manage the coastal vessels.