Ambassadors International has tentatively agreed to sell its marine business, Ambassadors Marine Group, to Bellwether Financial Group.
Ambassadors said it can solicit other proposals until May 22.
The marine business includes marina design, manufacturing and construction services.
The sale is part of a larger plan to sell off all assets except Windstar Cruises. Last month, Ambassadors sold its travel and events division to Lakeview Equity Partners for $500,000 in cash. Plus, Lakeview assumed $3.8 million in debt.
Ambassadors also owns river cruise ships that once sailed for the defunct Majestic America Line.