businesses.

Reef Roamers Ltd. became the biggest operator of its kind overnight when it was formed, running the Reef Goddess , Looking Glass , and Reef Explorer glass bottom boats.

The company is jointly owned by Mr. Donald Morris, who runs Bermuda Island Cruises; Mr. Robert Rans, owner of investment firm Performa Securities; and Scottish businessman Mr. Robert Thomson.

The Reef Goddess and Looking Glass boats were previously owned by Bermuda Vacations and Looking Glass Cruises respectively. Both companies went bust over the last 12 months, prompting a sale of their assets.

Mr. Thomson, a self-made multi-millionaire, was a minority investor in Bermuda Vacations.

He bought the Reef Goddess for $500,000 at auction shortly after Bermuda Vacations went bust earlier this year.

Mr. Thomson, who has a minority stake in Reef Roamers, did not want to comment yesterday.

Although there are several smaller firms operating glass bottom boats on the Island, none has the capacity of Reef Roamers, whose vessels can seat a combined total of approximately 310 people.

BICL has been given the management contract to operate the three vessels. Mr.

Morris said yesterday: "It makes a lot more sense to have these three boats under one umbrella: it offers us more flexibility.'' Reef Roamers has arrangements with all of the cruise lines visiting Bermuda to take their passengers out on trips, said Mr. Morris.

The formation of the new company follows a torrid time for the local tour boat business, which has been hit by the recession and Government's decision to reduce the number of cruises to Bermuda.

Poor management decisions has also played a part, particularly in the demise of Mr. Beau Evans' Looking Glass Cruises, which went belly-up following its disastrous involvement with the Enterprise submarine.

BICL managed to survive the slump, however, partly because of the success of its broader interests in organising theme parties and other entertainment events for large groups, both on and off land.

MR. Donald Morris.