Regency Cruises was a Greek cruise company operating former ocean liners in the late 1980s and early 1990s, formed by Anastasios Kyriakides and William Schanz.
History The company began in 1984 with their first ship, the Regent Sea, a former transatlantic ship built for Swedish American Line.
In 1986, the company bought three container ships with the intent to completely rebuild them into cruise ships. The Axel Johnson was to be renamed Regent Sun, and the Annie Johnson was to be renamed Regent Moon. Regency Cruises did not proceed with the conversions, and the ships were sold to Costa Cruises. The third vessel, Margaret Johnson. intended to become Regent Sky, instead was sold to the breakers, with her steering gear and engines used for the refit of the recently purchased Regent Star.
In 1988, the cruise line purchased the Royal Odyssey from Royal Cruise Line, and renamed it the Regent Sun. In 1989 the line purchased the unfinished hull of Stena Baltica of Stena Lines, with the intent that the ship would become the line's first new build. Completion would be delayed many times, and the ship would only reach 60% completion by the time Regency went bankrupt. By 1992, the line had six ships, adding Regent Spirit and Regent Rainbow to the fleet that year.
In 1994 the line purchased the former car ferry M/S Canguro Verde, renaming her the Regent Jewel, and invested a significant amount of money for its acquisition and refit.
In 1995, Regency Cruises arranged to charter the Princess Cruises ship Fair Princess. Regency planned to operate the ship as the Regent Isle for the start of the 1996 cruise season.
Bankruptcy On October 29, 1995, Regency Cruises announced its shutdown. Warning signs were seen when several sailings were canceled because the line did not receive financing for the purchase of Princess Cruises' Fair Princess in mid-October. Travel agents were also seeing late commissions on bookings, the company's president Ron Santangelo had resigned, and the Regent Rainbow had been arrested in Tampa. A primary contribution to the bankruptcy was the large acquisition and refit investment of $31.4 million in 1994 for the Regent Jewel.
Following bankruptcy, half of the ships would go on to sail for other cruise lines, while the Regent Sea, Regent Sun, and Regent Star would never end up returning to service. The under-construction Regent Sky would never be completed, eventually being scrapped in 2012.
Fleet ShipImageBuiltIn service for RegencyStatusNotesRegent Sea 19571984-1995Sank on way to scrapyard in 2001Built as the Gripsholm for Swedish American LineRegent Star19561986-1995Scrapped in 2004Built as the Statendam for Holland America LineRegent Sun19641988–1995Sank on way to scrapyard in 2001Built as the Shalom for Zim LinesRegent Rainbow19581992–1995Scrapped in 2012Built as the Santa Rosa for Grace Line Regent Spirit19621992–1995Scrapped in 2009Built as the Anna Nery for Cia Nacional de Nav Costeira Autarquia Federal Regent Jewel19671993-1994Scrapped in 2013Built as the car ferry Canguro VerdeNever entered serviceRegent Sun19691986–1987 (owned)Scrapped 2014Purchased by Regency Cruises to be refitted into cruise ships, but sold before any work was carried outRegent Moon19691986–1988 (owned)Scrapped 2012Purchased by Regency Cruises to be refitted into cruise ships, but sold before any work was carried out.Regent Sky19851989-1995 (hull owned)Scrapped in 2012Ship under construction, was 60% complete when Regency Cruises filed for bankruptcy. Never completed. Regent Isle19561995 (planned)Scrapped in 2006Built as the RMS Carinthia for Cunard Line. Chartered by Regency Cruises, but never entered service due to bankruptcy.
References