Jewel River Cruise Line, founded by former Silversea CEO Albert Peter, has announced the postponement of the debut of its luxury brand, Jewel River Cruises. The company said that "launching the first boutique-luxury ship in the river cruise industry became increasingly challenging given the current worldwide economic climate and uncertainties in the international financial markets."
Jewel River Cruise Line’s two other brands: the premium Emerald River Journeys and the contemporary Aqua River Journeys will continue to operate. The ships are currently chartered to European tour operators through 2009.
"We still believe that a boutique-luxury brand in the river cruise industry is a sound and viable proposition,” said President and COO Jacques Wulffaert. “The river cruise market has been experiencing a boom and there is currently no true luxury brand in the market. We expect that when the economy stabilizes and credit becomes more readily available, we will be well positioned to be a dominant player."