The cruise line Tradewind Voyages is suspending sales and cruise cancellations are expected due to the impact of sanctions imposed on its main lender. The offshore operator and its parent company, DIV Group, are receiving financial advice, as they have been affected by the sanctions imposed on the German bank VTB.
Although the company has been dealing with Germany's VTB bank, its headquarters are in Russia. Tradewind Voyages has paused its cruise sales "as an interim measure" while it continues working on the process.
“Travel cancellations are expected, and customers will be contacted with updated information. Customer deposits remain safe, as they are placed in a trust fund,” the company said. “It is a very unfortunate situation we find ourselves in, where our parent group’s main lender has been impacted by the sanctions.”.
“While we have been working with VTB Germany, its headquarters are located in Russia, where the bank has been sanctioned due to the conflict between Ukraine and Russia. The DIV Group continues to explore all options to rectify the issue.”.
“The decision to pause travel sales is difficult, but it is the right thing to do at this time. The Tradewind Voyages management team continues to work with DIV Group and its external advisors to resolve the situation as soon as possible.”.
The operator's full launch was hampered by setbacks last year, including the choice to scrap its 2021-22 winter season due to concerns about Covid restrictions in the Caribbean and the inaugural ship Golden Horizon being "detained" in Dover following a financial dispute.
