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Duke notes major milestone by royalty partner

By BFN News | 07:53 AM | Friday 09 June, 2017


Temarca - Duke Royalty's inaugural royalty investment - successfully launched its maiden voyage for its third vessel, the Carmen, on 2 June. Duke said this was a milestone for Temarca and demonstrated the rapid progress made since Duke's €8m royalty investment, which was concluded in April. An update said: "In response to the growing demand from Temarca's customers, Duke is pleased to report that all three vessels are now sailing on the Rhine and Danube and each have sold out their total capacity for the remaining sailing season for 2017 as well as for the entire sailing season for 2018. "The sailing season encompasses 220 days from April - October but during the non-sailing season, Temarca is able to generate incremental revenues from its vessels by using them as mobile hotels as well as for corporate receptions and other functions." Duke chief executive Neil Johnson said: "This marks a milestone in the growth of our royalty partner, Temarca, and a culmination of a lot of hard work by its owners Teun and Marijke. "Temarca has responded to increasing demand by acquiring an additional vessel for the 2017 season, and Duke is proud to partner with Temarca to finance the growth of the business. "This is a great example of how Duke's capital may be used by our royalty partners." Story provided by StockMarketWire.com

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