Ocean Jewel up for auction

---

The financially troubled Ocean Jewel is up for auction.

The Ocean Jewel was supposed to bring thousands of people to downtown St. Petersburg every week. But mechanical problems and overwhelming debt forced owners to shut down.

Although the Ocean Jewel didn't have many passengers toward the end because of late schedules that stranded passengers, investors are lining up to purchase the ship. As many as 20 people were expected to participate in the auction Monday.

Ocean Jewel owners filed for bankruptcy August 1. But it wasn't until October when its fate would be publicly known. The Coast Guard ordered a safety overhaul, but the Ocean Jewel's owners didn't have the million dollars to comply.

Since then, the Ocean Jewel has been sitting at Tampa's ship repair yard as owners owe $70 million to more than 200 creditors.

In its short time in the Bay area, the Ocean Jewel gained notoriety for stranding passengers for several hours at a time. The ferry boats often experienced engine trouble, and worse, even collided with the John's Pass Bridge in Treasure Island.

The Ocean Jewel will likely operate in the future, but not in the United States. Some of the 20 bidders want to run the ship in locations such as Singapore, Brazil or India.

St. Petersburg Mayor Baker said the city will be in good shape financially regardless of the auction.

Each bidder will be required to make a $100,000 deposit to Titan Cruise Lines and supply proof they can pay for the boat.

St. Petersburg is owed more than $150,000.

"We are always going to seek opportunities to the city, and in this case we got a sizeable deposit," St. Petersburg Mayor Rick Baker said. "We actually made a lot of money from the Ocean Jewel during the course of the term. They put almost $200,000 worth of improvements to our port.

"Financially we are going to be in good shape no matter what happens at the auction, although we are obviously going to try to get our deposit back and get as much of our unpaid amounts as we can."

First American Bank was the main financier of the Ocean Jewel. The bank was second in line behind the City of St. Petersburg to receive payment after the auction. If the winning bid is too low, however, the bank can block the sale.

More Pinellas County Stories

• Bridge set for one last blast
• Silver Alert issued for missing St. Petersburg man
• Two years of construction easing commute on Ulmerton Rd
• Rays dump mascot performer
• Pinellas infant mortality rates higher in black babies
• Latest area closing highlights national problem
• School board grapples with idea of school closures
• Couple stranded in Bay area with exotic pets
• Price of Rays tickets increasing

• Spectacular displays of holiday lights
• Tell us about holiday displays
• Hours your favorite shopping mall is open

Holiday events galore!
Come back soon to get the latest on parades, concerts and more.

• Maps and directions
• Airport Information
• Traffic Cameras

• Submit an Event
• Community Events
• Sporting Events
• Entertainment Events
• Spanish Events

Bay News 9 on Demand is free and exclusively available on Bright House Networks digital cable, Channel 342. Here's what's new:

• NEW interactive program guide
• Hogan 911 crash tape released - hear all of it!
• Watch skydivers break world record on camera
• Complete coverage: CNN YouTube Debate (Politics)
• 2007 Severe Weather Special - Learn about everything from hurricanes to lightning

Select the size text you want to use to view www.baynews9.com from the choices below.

• Breaking News Alerts
• Live Audio Stream
• RSS News Feed

Become An Asterisk Hunter!

At Bright House Networks, we prefer to keep things simple.

So the next time you're looking for TV, home phone and Internet service with a 30-day, money-back guarantee, but without the fine print surprises, call

1-866-976-EASY.

Learn more at AsteriskHunters.com.