Kristina Cruises, the Finnish cruise shipping company, is seeking debt restructuring and has cancelled its Canary Islands programme that was due to run until 20th March 2014. The company operates the 12,907gt/1982 built Kristina Katarina under the Finnish flag.

Kristina Cruises said in a statement that a generally weak economic situation in Finland and a sharp fall in package tours to the Canary Islands had resulted in the decision, which was aimed to limit further losses. The company submitted its debt restructuring application to the regional court of Southern Karelia on 28th November. However, the company will continue to operate its river cruise programme and intends to bring the Kristina Katarina back to service from 27th March 2014 onwards if the restructuring is successful.