| Residential ships are a way to share expenses | | | | Million, or can be completed turn-key in 20 months for |
| instead of owning your own private yacht. The | | | | US$130,000,000. Lying in the Eastern Mediterranean. |
| concept seems reasonable, but there is some price | | | | The above listed "turn-key" price of $130 million is |
| gouging going on in the business. | | | | based on finishing the ship at the Elefsina Shipyard in |
| The ship that started the current spate of luxury | | | | Greece. That would not be a wise thing to do with |
| residential homes aboard cruise ships was "The | | | | this ship. Greek shipyards get very few new |
| World," operated and managed by ResidenSea. All | | | | construction projects these days, and for good |
| the residences onboard "The World" are already | | | | reason. The trade unionists in Greece are doing a |
| sold-out, but occasionally an owner puts one up for | | | | very good job of improving pay, benefits, and |
| sale. If you have to ask the price, you probably | | | | working conditions of shipyard workers in Greece. |
| cannot afford it. | | | | Unfortunately they also slow down the work, and |
| Residential Cruise Line, LTD. Is offering 1 bedroom, 1 | | | | drive up the costs. |
| bath, 624 sq.ft. apartments on "The Magellan" for a | | | | The asking price for this ship is less than the price for |
| mere $2,160,000. A 4 bedroom, 4.5 bath, 4334 sq.ft. | | | | one large apartment on "The Magellan." The asking |
| unit will set you back $15,460,000 to buy and an | | | | price and selling price are two different prices. This |
| annual maintenance fee of $542,000. | | | | ship could probably be bought for about 11 million |
| Not to be outdone, The Four Seasons Ocean | | | | dollars. It would be foolish to finish this ship in a |
| Residences has units running from $3.75 million to $39 | | | | Greek union shipyard. It can be economically towed |
| million, and sizes range from 797 square feet for a | | | | over to the nearby shipyards in Tuzla, Turkey. The |
| 1-bedroom unit to 7,860 square feet for a | | | | ship can be finished there quicker, and for about half |
| 4-bedroom unit. | | | | the price and with better craftsmanship. This ship |
| The "Orphalese" plans to launch in 2008. They are | | | | could be bought and finished to a high standard equal |
| offering 200 permanent residences ranging from the | | | | to "The Orphalese" for a total cost of much less than |
| 1,000-square-feet, 2-bedroom Pegasus Estate to the | | | | 100 million dollars (maybe even as low as 60 million). It |
| 3,700-square-feet, 5-bedroom Penthouse, which are | | | | can be finished to order, with each residential unit |
| available for full ownership. The 2-bedrooms start at | | | | customized to suit its owner(s). The finished product |
| $1.8 million with $30,000 in annual fees, while | | | | would be a brand new completely modern ship with |
| penthouses start at $10 million with $78,000 in annual | | | | luxury homes onboard which would be at least as |
| fees. | | | | good or better than any on the market. |
| Voyage Partners has a ship under construction but | | | | That still seems like a big chunk of change. But this is |
| has not announced pricing yet. When they do, the | | | | a big ship and it would easily accommodate 200 |
| prices will probably fall in the range of the others in | | | | luxury residential units and an additional 200 or so |
| this short list of new residential cruise ships. | | | | conventional cruise cabins like "The Orphalese." The |
| Another ship of this caliber is in the planning stages, it | | | | average cost of the residential units would be less |
| is to be named "Everest" and will be 656' in length if | | | | than $500,000. That would mean that the smaller |
| or when it is built. It is to intended have 17 | | | | residential units would cost much less than the |
| apartments and an owners private penthouse suite | | | | average price. Also, with an additional two hundred |
| on the top deck. | | | | (plus) conventional cruise cabins, the cabin owners |
| "The Orphalese" is the best bargain of the bunch, and | | | | could recoup much of the operating costs, and thus |
| I think it is the highest quality ship too. "The | | | | virtually eliminate the "maintenance fees" for |
| Orphalese" is being built at the Aker Shipyards in | | | | themselves. The expense to owners can be less than |
| Finland by the same builders who have recently built | | | | 10% of the going rates if the buyers did not need to |
| the biggest and best mega cruise ships in the world, | | | | pay some slick promoters and salesmen, but just |
| including the largest of all cruise ships "The Freedom | | | | bought the ship directly themselves sharing the actual |
| of the Seas" operated by Royal Caribbean. Also the | | | | costs by dividing the ship ownership among the |
| management of "The Orphalese" seems to be | | | | buyers. Why would anyone want to pay ten times as |
| practical. There will also be 265 guest suites available | | | | much money to buy, and much higher maintenance |
| on the ship for cruise passengers who do not own | | | | fees for a similar shipboard residential unit? The only |
| residences. | | | | reason I can think of is to impress others with how |
| Using the best of the bunch "The Orphalese" as a | | | | much money they can afford to throw away. |
| benchmark, let's see how it stacks up against real | | | | Used cruise ships are an even bigger bargain. Look at |
| world prices. | | | | the specs for the following unfinished conversion ship |
| New cruise ships can be built for around $200 million. | | | | for sale: |
| The most expensive new mega cruise ships cost | | | | UNFINISHED YACHT FOR SALE |
| about $500 million to build. | | | | OWNERS PRICE USD1 MILLION |
| All the current prices of residences onboard cruise | | | | COMPLETE SPECIFICATIONS, GA AND EQUIPMENT |
| ships are exorbitant. Rich people apparently enjoy | | | | LIST AVAILABLE |
| squandering their money. It must be a status thing to | | | | GREEK FLAG |
| waste more money than the Joneses. For those who | | | | BUILT ROMANIA / 1988 |
| prefer to not waste money trying to outspend the | | | | LAST IN DRY DOCK 1997 |
| Joneses, there is a better way. | | | | DIMENSIONS 116.40 X 14.20 X 5.20 METERS DRAFT |
| Occasionally a cruise line may have a new ship under | | | | GRT/NRT 3430/2000 |
| construction and run into financial difficulties. They | | | | 23 KNOTS INTENDED |
| may be forced to abandon the construction project, | | | | HELIPORT INTENDED |
| and an unfinished ship may sit idle in a shipyard. There | | | | ACCOMMODATIONS INTENDED FOR 81 GUESTS |
| are such ships available now. One in particular is as | | | | CREW FACILITIES INTENDED FOR 93 MEMBERS |
| follows: | | | | Again the asking price is subject to negotiation. Used |
| 725' 725ft./221m UNFINISHED 12 DECK PASSENGER | | | | ships can be refurbished to look practically new, and |
| VESSEL | | | | can be brought up to international safety standards |
| Year: 1990 | | | | (SOLAS). There are shipyards around the world that |
| Current Price: US$ 15,000,000 | | | | can do good quality work at even lower cost than |
| Located in Mediterranean | | | | the shipyards in Tuzla, Turkey. If a ship is currently |
| Hull Material: Steel | | | | lying in Greece (as many are), then Tuzla is the best |
| Engine/Fuel Type: Twin Diesel | | | | place to tow it for major shipyard work. The "SE" |
| 725ft./221m Unfinished 12 deck Passenger Vessel | | | | shipyards in the Black Sea port of Nikolaev, Ukraine |
| Steel hull & superstructure built in Poland in 1990, | | | | offers the best value for the money in that part of |
| length extended by 50m/164ft. in 1995 in Greece for | | | | the world. The bottom line is that smart shoppers |
| the original owner who went bankrupt.. New owner | | | | can get good deals, even on lavish purchases such as |
| not interested in completing the 13,000 ton (lightship) | | | | a luxury residential home aboard a cruise ship. I |
| cruise vessel and it is now at the stage where in can | | | | maintain a list of those who have expressed an |
| be completed by our competent ship builders in | | | | interest. The list is confidential and will not be shared |
| record time as per Buyer's specific requirements. Ideal | | | | for any marketing purposes. The purpose of |
| also as a floating condominium project or ro-pax. The | | | | maintaining the list is to facilitate joint ownership |
| price "as is, where is" with engines, generators and | | | | directly between buyers without any middlemen or |
| other equipment on-board (see list below) is US$15 | | | | promoters involved. |