The Funchal tanker (IMO 5124162), recognized as one of the last classic passenger ships, is currently up for auction due to its owner's bankruptcy. Built in 1961, this ship, now 65 years old, faces an uncertain future.
Auction Details and Current Status
The judicial court of Madeira, Portugal, has offered the Funchal for auction as part of the bankruptcy liquidation of Teamson, its last owner, in a sealed bid format. It has been announced that the auction for this ship started on September 18, 2026, and applicants have until September 30 to submit their bids. Bids will be opened on October 9, and the buyer will receive the ship free of debts and financial obligations, but will immediately be responsible for costs.
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History and Features of the Ship
The Funchal was designed as a replacement for another ship built in 1907 and long served transportation to the Madeira Islands of Portugal and other destinations. It was originally designed as a steam liner but was converted into a cruise ship in the 1970s and was also used as a presidential tugboat for Portugal.
In recent years, the Funchal has faced numerous challenges. Successive ownerships and various plans to convert this ship into a floating hotel or cruise ship have not come to fruition, and work has stalled due to a lack of funding. The current condition of this ship is so dire that reports indicate its interior has been completely stripped and requires major repairs.
Despite the ship's advanced age and poor condition, enthusiasts of historic ships and the Portuguese community hope that the Funchal can once again be saved from the brink of destruction. The minimum bid price for this auction has been set at €802,354 ($921,000).
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