Residential Cruise Line Crescent Seas Relinquishes Charters on NCLH Ships

 

Eight months after going public with plans to launch a resident cruise line called Crescent Seas, the company has relinquished charter agreements with Norwegian Cruise Line Holdings (NCLH) for two cruise ships, instead saying it is focusing on plans for a newbuild. It becomes the latest in a series of efforts that tried but failed in concepts to convert existing cruise ships into residences at sea.

“In the six months since launching Crescent Seas, the brand captured extraordinary interest from individuals around the world,” said a spokesperson for the company. After conversations with potential buyers, the company, however, says it became clear that the demand is for larger, more customizable residences. They said it far exceeded expectations.

Plans for the cruise line were announced in March 2025 by Russel Galbut, a lawyer and high-end real estate developer. Galbut was a founding director and investor in Prestige Cruises starting in 2005 till the company was acquired by Norwegian Cruise Lines Holdings in 2014. Prestige is the parent to Regent Seven Seas Cruises and Oceania Cruises. Galbut served as a director and later Chairman of the NCLH board from 2018 to 2024.

Crescent Seas, they reported, would take the Seven Seas Navigator (28,800 gross tons), which was introduced in 1997 on a long-term charter, and handle the marketing of the residences, while Norwegian Cruise Line Holdings was to continue the technical operations. Handover was scheduled for October 2026 and to re-launch in December as the resident ship after a more than $50 million renovation. The plan called for reducing the ship’s 248 suites down to 210, which were to be priced between $750,000 and $8 million.

The company had ambitious plans, saying it would have five ships announced over the next five years. In April 2025, it announced it had also chartered the Insignia (30,000 gross tons) from Oceania Cruises. The ship, which was introduced in 1998, was due to be handed over in November 2027. The reconstruction was to reduce the ship from 333 cabins to 290, priced between $650,000 and $10 million.

Crescent Seas says the sales operation, which launched in the spring, helped in “market validation and deepened understanding of what high-net-worth buyers want.” It said the potential buyers wanted more space, flexibility, and participation in the design. People who put money down on the first two ships will get full refunds and priority access to the planned new ship. 

 

Crescent Seas' concept for Ocean, a 55,000 GT newbuild (Crescent Seas)

 

The company says it is evolving its strategy from existing ships to newbuilds. They had previously revealed plans for a ship called Ocean, which they now report will be 55,000 gross tons. It will have more than 200,000 square feet of salable inventory across 300 units. The company projects delivery in Q4 2031. In addition to the customizable spaces, the larger ship, while more expensive, will make it possible for the per-unit maintenance costs to be lower due to economies of scale, according to Crescent Seas. 

“Seven Seas Navigator and Oceania Insignia will no longer be chartered by Crescent Seas Development, and will remain in the Regent Seven Seas Cruises and Oceania Cruises fleets, respectively,” confirms a spokesperson for Norwegian Cruise Line Holdings. 

NCLH is focusing on its newbuilds for the two brands, and the charters were presented as part of a fleet modernization strategy that includes new ships for both lines. Regent Seven Seas Cruises, which operates Seven Seas Navigator, said it is planning a multi-million-dollar refurbishment for late 2026 for its ship. Both lines said new itineraries would be released shortly for future cruises.

The resident cruise ship segment was pioneered by The World, which entered service over 20 years ago, as a custom-designed newbuild. Since then, several companies have announced concepts that are yet to come to fruition, and several plans called for rebuilding existing cruise ships. The only one that has succeeded so far is a start-up with a ship called Villa Vie Odyssey, rebuilt from a 30-year-old cruise ship and introduced as a residency in September 2024. With the growth in high-end luxury cruising, several firms continue to look to leverage interest in cruising to expand residential cruise ship offerings.