One Ocean Expeditions Could Make a Comeback With New Ship

Andrew Prossin

One Ocean Expeditions could sail again as Managing Director Andrew Prossin said in a court filing that he is negotiating to finance a new ship and is also talking to other expedition operators about their excess and unneeded capacity.

The news could come as a surprise to some as the brand saw its ship, the RCGS Resolute, arrested in Buenos Aires over the winter and operations suspended; it appeared the company and brand were finished.

Prossin later detailed an immense set of challenges in a May court filing following an April bankruptcy filing. 

Now, Prossin is working to collect a $19 million judgement against Terragelida, which was essentially the vessel management company that One Ocean had chartered two Russian research ships from. 

The company has also collected an insurance payment, and is looking to reclaim over $3 million in its assets currently stuck aboard the RCGS Resolute.

The big news of the new ship deal would give the company the independence it needs, Prossin said.

"If successful, this would give One Ocean direct partial ownership of its own vessel and eliminate the uncertainty and risk inherent in a vessel charter arrangement," Prossin stated. "To facilitate this transaction, One Ocean has been negotiating with several non-competitive parties who wish to sub-charter the vessel a substantial amount of days each year." 

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