3.9.2008: Color Line sells Prinsesse Ragnhild to Celebration Cruises for €23 million

Color Line, the Norwegian ferry operator, has sold the 1981 built 35,438 gross ton cruise ferry Prinsesse Ragnhild to Celebration Cruises in the US for €23 milion.

The German built ship that was lengthened from 172 metrs to 205 metres and upgraded in 1992 in Spain. It can accommodate 1,875 passengers and has a lane metre capacity of 900.

It fetched significantly less than the mid-1980s built Color Festival and Kronprins Harald the company sold previously, in both cases for more than €40 million. However, Prinsesse Ragnhild has reportedly suffered from engine trouble, including a minor engine room fire in July 1999.

The sale completes Color Line's disposal programme of old vessels that comprised five vessels and raised €156.6 million since 2007. It has introduced four newbuildings since December 2004 at a cost of more than €1 billion.

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