Aker Yards Signs Residence Ship Contract

Wednesday, June 16, 2004
Kvaerner Masa-Yards Inc. (KMY), signed a conditional contract with FS Ocean Club Ltd., managed by Ocean Development Group, to design, construct and deliver an approximately 42,500 Gross Ton luxury residential ship to be branded, managed and operated by Four Seasons Hotels and Resorts. The ship, to be named the M/S Four Seasons, will be approximately 200 meters in length and will feature approximately 100 spacious residences varying from 125 square meters to 320 square meters.

"KMY is excited to have the opportunity to work with both Four Seasons and Ocean Development Group on this new project," said Mr. Yrjö Julin, President and CEO, KMY. "With our combined experience, we are sure that M/S Four Seasons will promote the new residential lifestyle that can be offered at sea."

The value of the contract is approximately €276 million and will, when confirmed correspond to about two thousand man-years employment at KMY and its suppliers and subcontractors. KMY has built more than 25% of the world's modern passenger ship fleet, and enjoys an unprecedented on-time delivery record. Construction of the M/S Four Seasons, which is anticipated to take 24 months to complete, will commence when sales targets for the residences have been reached, which is expected to occur before July 2005.

The agreement includes an option to contract a similar vessel to be exercised within year 2005 as soon as the sales targets for residences have been reached for the second vessel.

"The signing of this conditional contract with KMY and our agreement with Four Seasons are significant milestones in our plan to create a unique residential community at sea," said Chairman and CEO of Ocean Development Group, Mr. Kristian Stensby. "The development in recent years of branded luxury residential resort communities has shown there is great potential demand for the unique lifestyle experience we will offer."

"We are excited to expand our residential portfolio with this new and visionary lifestyle product," added Kathleen Taylor, President, worldwide business operations, Four Seasons Hotels and Resorts. "The M/S Four Seasons will offer our guests the opportunity to experience the Four Seasons lifestyle in locations where we do not currently have a presence, and will become a showcase for the highly personalised service for which Four Seasons is renowned."

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Dann Marine Repowers With Cummins Tier 3 Engines

Dann Marine Towing, LC., is a fifth generation family owned and operated tugboat company based in Chesapeake City, MD. The model-bow twin-screw tug Sea Coast was

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

MAN-Powered Cargo Vessel Meets Tier III

Classification society awards SCR system emissions certificate. MAN Diesel & Turbo has been awarded a Tier III - compatibility certificate by the DNV- GL classification

Cruise Ship Trends

Steel Cut for Third RCI Quantum-class Cruise Ship

The steel cutting for 'Ovation of the Seas', scheduled to be delivered in the autumn of 2016, took place at the Meyer Werft shipyard in Papenburg, Germany, where 'Quantum of the Seas',

Holland America Line's New Ship is ms Koningsdam

Holland America Line revealed the name of its new 99,500-ton cruise ship slated for delivery in February 2016 will be ms Koningsdam. While the name pays homage

L-3 MSI to Equip Third Quantum Class Ship

L-3 Marine Systems International (L-3 MSI) announced today that it has been awarded a contract to provide a range of navigation, lighting and communication systems

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1458 sec (7 req/sec)