The company, and its Australian-based subsidiary, are owned by Norway-based Pacific Exploring Limited .The New Zealand company was acquired by PEL in 2019 and a specialist 53m-long, 32 passenger cruise ship was commissioned.Island Escape Cruises NZ commissioned a specialist cruise ship which was later seized by authorities.The company primarily operated around Fiordland in New Zealand but also offered some cruises in Kimberley, Western Australia.
Australian customers lost a total of $4.6 million to the company, while New Zealand customers lost $1.5 million.