Ritz-Carlton Set to Provide Bailout Package to Barreras Shipyard

Ritz Carlton Yacht Collection Vessel

The Ritz-Carlton Yacht Collection and Oaktree Capital are poised to save Barreras shipyard in Spain in order to ensure the delivery of the 298-guest Evrima, according to Spanish media reports and other sources familiar with the situation.

Spanish media reported that the cruise operator is working with Cesce, a Spanish credit export insurance company, and will cover cost overruns on the Evrima newbuild, while also securing the construction of a sister ship, ensuring employment for yard workers.

Citing challenges with the shipyard, Ritz-Carlton announced a delayed delivery for its first ship in September.

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