New Delivery Date for 'Floating Resort'

LONDON -- The Norwegian firm ResidenSea said its "floating resort," the World of ResidenSea, will be delivered in 2001, instead of in 2000, as originally planned.

The $545 million vessel is the brainchild of Knut Kloster Jr, a scion of the Norwegian cruising family, and is being built by the Howaldtswerke Deutsche Werft shipyard in Kiel, Germany.

The ship will cruise the world taking in major global events, the company said.

ResidenSea had hoped to have the 88,000-ton ship ready for the millennium, but selling $100 million worth of on-board apartments to trigger the order took longer than expected.

The company has been marketing apartments on the ship, which range in price from $1.5 million to $6.6 million, for the last 10 months. So far, the firm said, it has sold 62 with another 18 reserved. The ship will have a total of 286 apartments as well as cabins for vacationers.

Oslo-based ResidenSea estimated that when all the apartments are sold the firm will have raised $630 million. The company said it expects that most of the sales will be to Americans.


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