Time-share plan for Rembrandt scrapped

DEERFIELD BEACH, Fla. -- Plans to operate the former Premier Cruises ship Rembrandt as a time-share vessel have been permanently shelved.

Delivery of the ship to EXA International, which was to sell time-share cabins on the ship under its Cruiseshare program, was scheduled for May.

But EXA terminated the deal with Rembrandt owner Credit Suisse/First Boston, forfeiting its deposit on the ship.

According to EXA president Steve Priskie, the Rembrandt, which formerly sailed as the Holland America Line flagship Rotterdam V, might not comply with safety and health inspections in 2010.

"We didn't want to spend millions of dollars on [a ship] that didn't have potential years from now," Priskie said.

EXA is looking at other ships for its Cruiseshare program, a spokeswoman said.

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