The UK-based operator of the tall ship Golden Horizon, Tradewind Voyages, canceled all sailings on its lone ship through October 2022 as it pursues a restructuring, the cruise line revealed.

Tradewind said it was realigning its business & financing structure due to EU-European Union sanctions against Russian entities that had impacted its lender in Germany.

The ship operator and its owning DIV Group were taking financial advice after they had been impacted by sanctions placed on Germany-based VTB Bank. While the company has been dealing with VTB, the Group’s headquarters are in Russia.

Passengers will be issued a full refund from the trust account of the cruise line, Tradewind said.

The decision comes a month after the company suspended new bookings for Golden Horizon, a 140-stateroom vessel that Tradewind calls the largest square-rigged sailing ship in the world.

DIV group is Croatia-based and owns the Brodosplit shipyard that constructed the vessel which was left in its hands after the company that had ordered it, Star Clippers, didn’t take delivery of the ship. Tradewind Voyages is the ship’s operator, DIV group remains the owner.

Source: https://www.cruisemapper.com/news/10663-tradewind-voyages-cancels-all-sailings-golden-horizon