Marios Iliopoulos appears to have made his first asset play on a clutch of cruiseships he bought at bargain-basement prices last year.
Industry observers who have been closely watching the Greek ferry owner’s cruiseship moves said he has sold the oldest ship he acquired, the 46,000-gt Magellan (built 1985), for recycling in India.
Eaglepower Shipping, an Iliopoulos-linked company based in Cyprus, bought the former Cruises & Maritime Voyages (CMV) ship at auction in the UK last October for a mere $3.4m.
