Qe2 won't sail to sa's world cup
Dubai's cash-strapped owner of the QE2 says it will not sail the famed British ocean liner to South Africa to serve as a floating hotel during the World Cup this summer...
Istithmar World, an investment arm of the indebted Dubai World conglomerate, says Cape Town is 'no longer being considered' as a possible destination for the legendary ship.
The former Cunard liner has been moored at Dubai's Port Rashid since its arrival in 2008.
Abu-Dhabi-based English language newspaper The National reported that Cape Town port authorities said they were not able to give the ship space to dock for the required amount of time.
Port manager at South Africa's Transnet National Ports Authority Sanjay Govan told the newspaper: 'It's the length of stay that was an issue. They wanted to stay much longer than just the World Cup.'
Istithmar World was quoted in the newspaper as saying: 'There are a number of options being considered for the QE2. Istithmar World is considering which option will best maximise value of the vessel.'
Dubai bought the Queen Elizabeth 2 in 2007 for $100million to turn it into a luxury hotel, berthed alongside the palm tree-shaped artificial island on the Gulf Coast.
It was reported that the new-look vessel was to boast a heritage museum exhibiting artifacts from the ship and maritime history.
Dubai World wants to renegotiate some $22billion in debt and may need to sell assets. Istithmar declined to comment on whether it would sell the liner, the newspaper said.
Dubai rocked global markets on November 25 when it asked for a repayment delay on $26billion in debt linked to Dubai World and its main property units Nakheel and Limitless World.
A last-minute lifeline from Abu Dhabi helped the conglomerate avoid default on a $4.1-billion Islamic bond from Nakheel, the developer of palm-shaped islands.
The QE2 was launched in Scotland and throughout its lifetime as a pleasure ship hosted 2.5million passengers on a total of 800 Atlantic crossings and 25 trips around the globe.
Source: www.dailymail.co.uk