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In 1988 the 42nd Street company bought World Yacht's operating upscale dining cruises from Chelsea Piers - currently World Yacht Dining Cruises. In 1998 the 42nd Street company also launched The Beast, a speedboat ride which takes tourists around the Statue of Liberty and goes 45 mph. In 2007, the United States National Park Service said it was going to terminate Circle Line Liberty franchise and give a 10-year contract to Hornblower Cruises which provides service to Alcatraz. It was noted in the announcement that since 1953 Circle Line has transported 70 million people to Liberty Island. Among the items cited in the transfer was a newer fleet (although Hornblower will have to buy the Circle Line boats) and the possibility of new service to Gateway National Recreation Area. The New York Times reported on December 8, 2007 that the price of the circle line boats to be sold to Hornblower was in arbitration, forcing Hornblower to bring in new boats. In 2009, Circle Line took delivery of the third of three new vessels constructed at Gladding-Hearn in Somerset, Massachusetts.
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