A World of Controversy
It was a concept like no other. A floating home where guests could virtually visit a variety of exotic ports in far off places from the comforts of their own luxurious accommodations. Imagine pulling into Cannes during its renowned film festival, stepping out into Monaco during its Grand Prix, or ringing in the New Year in Hawaii. The World of ResidenSea, a Bahamas-based company envisioned by well-known cruise shipping magnate Knut Kloster Jr. was established to offer these amenities via its luxury apartments ranging from 1,106 to 3,242 sq. ft. Costing anywhere from $2.2 - $7.5 million per apartment, the vessel was touted as a breakthrough in luxury cruising. While this may sound too good to be true — it actually is.
World's First Floating Resort To Sale In 2001
The world's first ocean-going luxury resort is scheduled to be afloat late in 2001 now that Bahamas-registered ResidenSea has secured financing and found a builder, according to company officials. The vessel for the rich, dubbed The World of ResidenSea, was conceived four years ago by Norwegian cruise magnate Knut Kloster Jr. Flagging cruise line share prices coupled with turmoil in the world financial market over the past few years prompted the firm to cut the size and cost of the ship to 40,000 tons at $350 million from an initial 86,000 tons at $545 million.
World's First Floating Resort Scheduled To Set Sail In 2001
The world's first ocean-going luxury resort is scheduled to be afloat late in 2001 now that Bahamas-registered ResidenSea has secured financing and found a builder, company officials said. The vessel for the rich, dubbed The World of ResidenSea, was conceived four years ago by Norwegian cruise magnate Knut Kloster Jr. "After four years of an uphill struggle...we have finally made it," Henning Oeglaend, chairman of the board of ResidenSea, said at a ceremonial contract signing in Oslo with the ship's Norwegian-based builder, Fosen Mek. Verksteder AS. Flagging cruise line share prices, coupled with turmoil in the world financial market over the past few years prompted the firm to cut the size and cost of the ship to 40,000 tons at $350 million from an initial 86,000 tons at $545 million.
Navigating Rough Waters
The spate of recent accidents at sea involving high profile cruise ships has spurred fears among owners and operators that once again the long arm of the law will be reaching out to demand new levels of safety products, systems and procedures onboard luxury cruise liners. The cruise shipping industry, which has enjoyed unprecedented growth for much of the decade, has been beset by some unsightly accidents and mishaps that have raised the watchful eyes of legislators around the globe. AAt a recent hearing on S. 1510, The United States Cruise Ship Tourism Development Act, Senator John McCain, Chairman of the Senate Committee on Commerce, Science and Transportation, said in his opening statement: "I believe that continued failure by the international cruise industry to abide by all U.S.
New Ships, Management Contract Put Silversea In Good Position
With the construction of new sister ships progressing as scheduled and the recently signed contract to manage the world's first ocean-going luxury residence, Silversea cruises is well poised for growth in the next millennium. The line was founded in 1992 with the concept of offering all-inclusive, ultra-luxury cruises to all parts of the world. The first ship, Silver Cloud, debuted in 1994, followed by Silver Wind in 1995. In five years, the line emerged as a leader in the ultra-luxury cruise market and is internationally recognized as the world's best small ship cruise line. The company's strong performance has made it possible to expand the fleet after only four years of operation. In May 1998, Silversea signed a contract for two new ships.
Silversea Poised For Growth
With the construction of new sister ships progressing as scheduled and the recently signed contract to manage the world's first ocean-going luxury residence, Silversea Cruises is well poised for growth in the next millennium. The line was founded in 1992 with the concept of offering all-inclusive, ultra-luxury cruises to all parts of the world. The first ship, Silver Cloud, debuted in 1994, followed by Silver Wind in 1995. In five years, the line emerged as a leader in the ultra-luxury cruise market and is internationally recognized as the world's best small ship cruise line. The company's strong performance has made it possible to expand the fleet after only four years of operation. In May 1998, Silversea signed a contract for two new ships.
