A newly formed company is touting the return of the 436-passenger American Queen.

The Memphis Daily News reports that the Great American Steamboat Co. of Memphis will relaunch a refurbished American Queen in the spring of 2012 for Mississippi River cruises, according to CEO John Waggoner.

The Delta Queen Steamboat Co. launched the American Queen in June 1995. The vessel was turned over to the U.S. Maritime Administration in 2008 after Majestic America Line ceased operations and defaulted on a guaranteed loan.

"This is the first time in 192 years there has not been an overnight cruise go down the Mississippi River. If we are completely full on the American Queen ... we would still only service 42% of the market that was once served four years ago," Waggoner told the Memphis Daily News.

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