Renaissance Cruises has sold Renaissance IV for about $12 million and also has three other ships - Renaissance I, II and III - on the sales block. Renaissance is reportedly working to raise sufficient capital to finance its $550 million, three-ship newbuilding project at Chantiers de l'Atlantique, the contract for which has not been stgned at press time.

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One industry source, however, says Renaissance is "very close" to securing financing for the newbuilding program of three 600-passenger luxury ships, although "the financing has been tough (for Renaissance) to set."

Renaissance III is also reportedly close to being sold, but a contract has not been signed yet. No deals are imminent for Renaissance I and II, although discussions have been held wtth a Singapore line which is currently operating the vessels on a bareboat charter.

Renaissance is reportedly looking to sell these two vessels by the fourth quarter of 1996 and the first quarter of 1997.