Companies like Storylines and Life at Sea Cruises struggle to fulfill their promises of permanent condos-at-sea.
Residential cruise ship startups have been capturing the attention of avid cruisers and retirees looking for a unique living experience at sea. However, these startups, including Storylines, Victoria Cruises Line, and Villa Vie Residences, have been facing significant delays in launching their condo-at-sea concepts. Building a new ship or acquiring an old one comes with its own set of challenges, leading to setbacks in fulfilling buyers’ dreams.
Storylines: A Prime Example of Delays
Storylines, a residential cruise ship startup, has experienced multiple delays in the construction of its MV Narrative residential ship. The company promised buyers luxurious amenities and a unique living experience at sea. Initially considering the purchase of a used ship, Storylines decided to build its own vessel. However, the process of securing funding, designing the ship, finding a shipbuilder, and executing the build has proven to be a monumental task. The company faced skepticism when it chose a Croatian shipyard with limited experience in building cruise vessels. The shipyard’s subsequent bankruptcy further postponed Storylines’ launch, which is now scheduled for December 2026. Concerns about the startup’s unrealized goals, broken contracts, funding, and cofounders’ lack of expertise cast doubt on the ship’s eventual completion.
Challenges of Building and Acquiring Ships
Building a new residential vessel from scratch requires extensive planning, funding, and execution. Startups like Storylines face the daunting task of creating a city at sea, which involves intricate designs, complex engineering, and adherence to safety regulations. Acquiring an old ship also presents its own set of challenges. Bidding on, acquiring, and refurbishing a large vessel requires significant time and resources. Additionally, older ships may struggle to meet sustainability regulations, further complicating the process.
Victoria Cruises Line and Life at Sea Cruises: Delays in Launches
Victoria Cruises Line, which chartered the Victoria Majestic, formerly Holland America Line’s MS Veendam, experienced delays in its launch. The 27-year-old ship was initially set to depart on its circumnavigation of the globe in May but has been postponed to late July 2024. Similarly, Life at Sea Cruises, a subsidiary of Miray Cruises, faced setbacks in its around-the-world trip. The company delayed its launch and changed its itinerary due to the lack of a ship for residents to live on. Life at Sea Cruises plans to offer a never-ending cruise experience but has yet to acquire the MV Lara, the ship it intends to replace the MV Gemini with.
Villa Vie Residences: A Newcomer with Ship Acquisition Pending
Villa Vie Residences, a newcomer in the residential cruise ship industry, plans to set sail in May 2024. However, like its predecessors, the company is yet to acquire a vessel. Founder and CEO Mikael Petterson remains optimistic, stating that he has allowed ample time in the schedule to account for any potential setbacks.
Conclusion: The residential cruise ship industry has been facing significant delays in launching their condo-at-sea concepts. Startups like Storylines, Victoria Cruises Line, and Villa Vie Residences have encountered challenges in building or acquiring ships, leading to postponed launches. The dreams of avid cruisers and retirees eager to embark on a unique living experience at sea are put on hold as these startups navigate the complexities of the maritime industry. The question remains whether these companies will be able to fulfill their promises and deliver the long-awaited residential cruise ship experience.
Leave a Reply