Utopia (cruise ship)

Utopia is a planned luxury residential ocean liner project. A formal marketing launch of the ship, reportedly costing US$1.1 billion, was expected in 2021.[2] The ship was originally planned to launch in 2017 but lack of funding got in the way and the binding letter of intent to build Utopia was amended in 2017.[3] The ship was to be built by Samsung Heavy Industries, one of the largest shipbuilders in the world.[4][5] The Finnish engineering company Elomatic Marine is credited for the design concept of the vessel, with architectural design by Tillberg Design U.S.[1]

For the Royal Caribbean cruise ship, see Utopia of the Seas.
History
NameUtopia
OwnerUtopia Residences
OperatorUtopia Residences
Port of registry Bahamas
RouteCircumnavigation of the world
OrderedNovember 20, 2009 (amended in 2012)
BuilderSamsung Heavy Industries
CostUS$1.1 billion
Notes[1]
General characteristics
TypeResidential cruise ship
Tonnage108,000 GT
Length296 m (971 ft)
Beam36 m (118 ft)
Height50 m (160 ft)
Draught8.3 m (27 ft)
Decks16
Installed power50,400KW 6 × Wärtsilä diesel engines
Propulsion
Speed22 KN
Capacity
  • 199 luxury residences
  • 218-room hotel
Crew600
Notes[1]

The original business plan called for residences with prices from US$3.9 million to US$30 million, but as of 2018 Utopia increased its prices to $36 million.[6]

It is one of several residence cruise ships that are under construction or planned, includingNjord,[7] Dark Island [8] and Narrative.[9] MS The World is the only resident-owned cruise vessel currently in service as of 2022.

Amenities

The 296 m (971 ft), 108,000 GT, ship will have 190 residences ranging in size from 130 to 613 m2 (1,400 to 6,600 sq ft).[10] The ship will also have 175-room hotel, casino, 16,000 sq ft spa, night club, and many other amenities typical of large-scale commercial ocean-cruise liners. The company recently received regulatory approval for open floor plans and open-air kitchens (a first of its kind milestone for the passenger ship industry), which allows the kitchens to resemble the open-concept kitchens in modern North American land-based homes.

Financing

The ship will be largely financed by the Frontier Group, a private equity firm with offices in Los Angeles and Washington, D.C. Frontier will put up most of the funds to cover the US$1.1 billion in construction costs.[11] In 2018, Frontier reported that the financing contingencies have been removed, clearing the path for the project to continue forward. In 2014, Utopia Residences shipbuilding contract was suspended due to insufficient funding. In 2017, a letter of intent was amended with Samsung Heavy Industries reflecting the vessel has been ordered with planned delivery and launch in 2022.[12]


References
  1. Henrik Segercrantz (February 2010). "Utopia". Maritime Reporter. Archived from the original on 14 July 2011. Retrieved 24 November 2010.
  2. Business Insider: Permanent apartments on cruise ship
  3. "Utopia Residential Ship Signs Contract with Shipyard". Archived from the original on July 17, 2011. Retrieved 2009-12-21.
  4. "Our Partners - Shipbuilder". Utopia. Retrieved 11 January 2015.
  5. "SHI Opens an Era of Cruise Shipbuilding in Korea". Samsung Heavy Industries. 2 December 2014. Retrieved 11 January 2015.
  6. Business Insider: Permanent apartments on cruise ship
  7. "Ocean Residences MY Njord Itinerary, Current Position, Ship Review".
  8. "Clydebuilt MS Dark Island Itinerary, Current Position, Ship Review".
  9. "Storylines MV Narrative Itinerary, Current Position, Ship Review".
  10. "Elomatic and Utopia's historic conceptual design for residential ocean liner one step closer to becoming reality". Elomatic. Retrieved 24 November 2010.
  11. Christopher Tritto (13 December 2009). "Frontier backs US$1 billion luxury ocean liner Utopia". St. Louis Business Journal. Retrieved 24 November 2010.
  12. "MS Utopia Residences Itinerary, Current Position, Ship Review".
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