Passat Kreuzfahrten’s announcement last week that it was terminating its cruise operations and handing back its sole ship, the chartered 16,200-gt Delphin (built 1975), to its Indian owner, Pradeep Agrawal, took few cruise industry observers by surprise.

The writing had already been on the wall for the 2011-formed company when it announced earlier this year that it had cancelled its forthcoming winter season of South American cruises because of low passenger bookings.

Passat