Colin Jost has learned that owning a ferry is far from easy. Especially when its named after one of the greatest maritime tragedies.

Earlier this year, Jost and his former SNL co-star Pete Davidson purchased a nearly 60-year-old Staten Island ferry for more than $280,000. The comedians and their fellow investors reportedly have plans to transform the vessel into an entertainment venue, but have faced a few road blocks along the way. Jost discussed the venture during his recent appearance on the Late Night with Seth Meyers, revealing they’ve yet to find a place to dock the 277-foot-long boat.

“Financially, it’s going great,” he said sarcastically. “We are printing money. It is our money—it’s ferry bucks—but we are printing it, desperately hoping that a dock will take it for payment.”

Meyers seemed shocked that the ferry didn’t have an official home, but Jost didn’t seem too concerned.

“It’s basically docked. I mean, it’s not gonna drift into Manhattan or anything,” he said. “It’ll be fine. It’s tied down.”

Jost then spoke about the ferry’s “Titanic 2” name and how it’s caused issues with insurance companies.

“This is why idiots shouldn’t be allowed to do things,” he began. “There’s so many immediate decisions you have to make, and one of them is you have to create a financial entity to deal with this boat. And so we’re on a call, and I’m just like, ‘Alright, well, how about [naming it] Titanic 2?”

The comedian said everyone on the call liked the suggestion and agreed to make it the official name.

“So that goes into a contract, right?” Jost continued. “And so now, suddenly, we’re looking for insurance, which we have to buy because it’s a giant deathtrap boat … and every insurance company is like, ‘It’s called Titanic 2?!’”

You can check out Jost’s full interview above. SNL returns this weekend for its season 48 premiere. Miles Teller will host the episode and Kendrick Lamar will serve as the musical guest.