Dubai World is considering the sale of Queen Elizabeth 2, the 40-year-old Cunard Line vessel it bought for a reported $100 million in 2007.
According to a report in Arabian Business, Dubai World’s investment arm, Istithmar, said it was considering "a number of options" that would best "maximize the value" of the ocean liner.
Istithmar had planned to convert the ship into a luxury hotel off of Palm Jumeirah, the world's largest man-made island. Recently, the company indicated that it might sail the ship to South Africa to serve as a floating hotel during the World Cup soccer tournament.
Those plans fell through, and the QE2 has been moored in Dubai since late 2008, when the ship sailed its farewell cruise for Cunard.
Dubai World, the debt-ridden company owned by the Dubai government, was slammed by the economic downturn and has already laid off 10% of its staff. Dubai World's debt is estimated to be about $59 billion.
Reports indicate that Dubai World could sell both the QE2 and Cirque du Soleil. The company has not acknowledged either rumor and could not be reached for comment.