German lender KfW has arrested a US cruiseship off Florida in an effort to foreclose on a loan that owner Explorer Maritime Cruises has allegedly failed to pay since November 2013.

The bank has asked a court to hold an auction sale for the 138-berth Yorktown (ex-Spirit of Yorktown, built 1988).

Magistrate Judge James Klindt ordered US marshals to seize the vessel after KfW lodged the $9.58m lawsuit in the federal court in Jacksonville, Florida, against New York-headquartered Explorer, an affiliate of Vasos Papagapitos’s small cruiseship owner, Travel Dynamics International.