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, is expected in 2021.[2] The original 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]

History
Name: Utopia
Owner: Utopia Residences
Operator: Utopia Residences
Port of registry:  Bahamas
Route: Circumnavigation of the world
Ordered: November 20, 2009 (amended in 2012)
Builder: Samsung Heavy Industries
Cost: US$1.1 billion
Notes: [1]
General characteristics
Type: Residential cruise ship
Tonnage: 108,000 GT
Length: 296 m (971 ft)
Beam: 36 m (118 ft)
Height: 50 m (160 ft)
Draught: 8.3 m (27 ft)
Decks: 16
Installed power: 50,400KW 6 × Wärtsilä diesel engines
Propulsion:
Speed: 22 KN
Capacity:
  • 199 luxury residences
  • 218-room hotel
Crew: 600
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 has increased its prices to $36 million.[6]

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).[7] The ship will also have 175-room hotel, casino, 16,000 sq ft spa, night club, and many other amenities. The company recently received regulatory approval for open floor plan and open air kitchens (a first of its kind milestone for the passenger ship industry) which allows the kitchens to resemble kitchens in 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, DC. Frontier will put up most of the funds to cover the US$1.1 billion in construction costs.[8] In 2018, Frontier reported that the financing contingencies have been removed, clearing the path for the project to continue forward.

See also
  • MS The World, a similar resident-owned vessel currently in service

References
  1. Henrik Segercrantz (February 2010). "Utopia". Maritime Reporter. 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. "Elomatic and Utopia's historic conceptual design for residential ocean liner one step closer to becoming reality". Elomatic. Retrieved 24 November 2010.
  8. Christopher Tritto (13 December 2009). "Frontier backs US$1 billion luxury ocean liner Utopia". St. Louis Business Journal. Retrieved 24 November 2010.
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