NY Cruise Lines Buys NY Water Taxi

watertaxi

NEW YORK — New York Cruise Lines, Inc. (NYCL) and The Durst Organization have closed a transaction for the sale of New York Water Taxi (NYWT) and Circle Line Downtown to New York Cruise Lines, owner of Circle Line Sightseeing Yachts, located on 42nd Street and the Hudson River. Terms of the purchase weren’t released.

The combination of the iconic Circle Line and New York Water Taxi brands will broaden and strengthen the transportation and sightseeing waterway services for both local residents and tourists.

“New York Water Taxi has established a great sightseeing and transportation business with its New York Water Taxi brand, including a hop on hop off service which connects Manhattan’s West Side, East Side and Brooklyn. We wish to preserve and grow this business. The transaction also unites the midtown and downtown Circle Line brands, which operated out of 42nd Street and the Hudson River and South Street Seaport on the East River, respectively. The addition of NYWT and Circle Line Downtown fleet and staff within the NYCL family gives us the geographic scope and capacity to expand the world famous Circle Line sightseeing business,” said Samuel Cooperman, Chairman and CEO of New York Cruise Lines. “With the acquisition, NYCL will own and operate 25 ships, including transportation ferries, high speed thrill rides and sightseeing, dinner, entertainment and charter yachts, with capacity ranging from 74 to 600 passengers. We will offer a service for every customer need.”

“We are happy to partner with New York Cruise Lines to continue our legacy,” said David Neil, Co-President of New York Water Taxi. “NYCL and its Circle Line brand is a respected industry leader with a long and rich history on New York City’s waterways. Circle Line 42 is the best possible option for continuing the work of NYWT— for the customers who rely on New York Water Taxi’s service, for its employees to continue working in the industry they love, and for the entire extended maritime family.”

New York Cruise Lines owns Circle Line along with unique floating restaurants at Pier 81’s North River Landing, including North River Lobster Company, as well as the brand new Fish Bar at North River Landing. New York Cruise Lines also operates World Yacht, a luxury special events and private charter business, as well as The BEAST Speedboat summer time thrill ride.

“As New York City continues to grow, its residents and visitors will need an even more robust and diverse transit network to get where they want, when they want. By joining NYCL, New York Water Taxi can continue playing a role in providing every resident and visitor high-quality ferry service in an unforgettable city,” said Helena Durst, New York Water Taxi Co-President.