SeaDream Yacht Club has this morning revealed that its new-build ship, SeaDream Innovation (which was scheduled to be delivered in September 2021) will no longer be built.

It comes as the boutique cruise line and the Damen Shipyards Group have agreed to terminate the contract for SeaDream’s latest ship.

The two parties say the deal was reached in “good faith and with mutual understanding” and that Both SeaDream Yacht Club and Damen remain open to working together on “potential future projects and collaboration”.

Executive Vice President of SeaDream Yacht Club Andreas Brynestad said the response from their past guests and the market in general about the new build had been overwhelming, despite the ship not being scheduled for delivery for almost two years.

“Since the ship will not be delivered, all booked guests will be contacted and issued full refunds in the coming days.”

Executive Vice President of SeaDream Yacht Club Andreas Brynestad

SeaDream said it was actively pursuing other newbuild opportunities in light of the news.

Atle Brynestad, SeaDream Owner and Chairman, said, the company has been debt-free for several years and has the equity needed to expand the fleet.

“We hope to announce a new ship in 2020,” he said

Karry On - SeaDream

SeaDream said the existing fleet of two ships, SeaDream I and II, continue to perform well, with the company seeing record revenue years.

Current plans of refurbishing the suites on SeaDream I and II will proceed as previously announced and planned – starting with SeaDream II in spring 2020.

For more details about SeaDream Yacht Club, you can read our sit down interview here with VP of Sales For SeaDream Yacht Club Jannicke Daae Rognstad.