Bank Montepio has finally sold the 5,900-gt cruiseship Porto (built 1965). It has gone to a Turkish shipbreaker, with delivery said to be imminent.
Sources close to the bank told TradeWinds it had been trying for several years to find a trading buyer for the 340-passenger ship but there had been no serious buying interest.
Montepio had financed the acquisition and extensive refurbishment of the ship by start-up cruise operator Portuscale in early 2013 after it acquired most of the vessel assets of failed Classic International Cruises (CIC).
