Boating Business | Sailing ship released following arrest



19 Jul 2021







The ‘Golden Horizon’

A spectacular sailing ship has arrived safely in Torbay following a dramatic arrest over a financial dispute between its original owners and the shipyard who built her.

The Golden Horizon, the world‘s largest square-rigged sailing ship, was detained in Dover on 15 July on the orders of the UK Admiralty Court just hours before she was due to begin her maiden voyage. The arrest was the latest development in a long-running legal dispute between builders Brodosplit Group in Croatia and her original owners, cruise line Star Clippers.

Originally scheduled for 2017, she was delayed until 2019 resulting in the shipyard being ordered to pay the cruise line a reported €6 million plus interest. Star Clippers laid claim to the vessel saying it would only release the ship once the debt was settled.

Payment received

But at the last moment, Star Clippers confirmed it had received a first payment from the shipyard and the Golden Horizon was freed to continue her journey.

A statement issued by Brodosplit and Tradewind Voyages which now owns the ship said, “On the 14 July 2021, at the request of the ship owner, the courts allowed the establishment of a court deposit to pay ‘buyers supply’ after the mortgage was taken out. This mean that a mortgage ceased to exist.

“Therefore we are delighted to be able to inform that you that Golden Horizon has continued its voyage today will be able to sail free of mortgages, across all the planned seas of the world wherever it is carried by the trade winds.”

At 8,770 tonnes and a length of 531 feet, the five-masted Golden Horizon is a near replica of the France II, built in 1913. She has over 6,000 square metres of sail, more than twice that of the Cutty Sark. She has accommodation for 300 passengers and 140 crew, with a restaurant, bars, pools, gym and spa.

via Boating Business | Sailing ship released following arrest.

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