PONANT Ship Charter Canceled Due to Payment Dispute Tied to Crypto Arrest

The French luxury cruise line PONANT has recently canceled a charter for its vessel Le Commandant Charcot, which was meant for a group of 150 Russian passengers. This decision was prompted by the recent arrest in the USA of Iurii Gugnin, a cryptocurrency entrepreneur from Russia. Gugnin’s company, Evita Investments, was involved as the payment broker for this chartering agreement.

Both PONANT and the chartering agency acknowledged Gugnin’s role in facilitating the charter payments. Following the cancellation, TRVL, a Dubai-based agency that organized the voyage, has taken legal action against PONANT. The lawsuit claims that while the total charter fee was set at $8.5 million, PONANT has failed to refund $5.8 million post-cancellation.

PONANT, which operates a fleet of 13 ships and is owned by the Pinault family (who also control the fashion conglomerate Kering), had promoted the canceled trip as an exclusive polar expedition. This incident highlights the challenges faced by the luxury cruise industry at the junction of high-value charters, international financial dealings, and increasing regulatory scrutiny.

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