An expanding Portuguese cruise company has picked up the first of Cruise & Maritime Voyages' (CMV) ships to be sold at auction.

Porto-based Mystic Invest confirmed to TradeWinds that it has purchased the 55,900-gt Vasco da Gama (built 1993), which was auctioned in the UK on Friday.

The price for the unit has not been revealed, but VesselsValue estimates the ship's current market value at $9.78m.