This company is charging $10m to spend the rest of your life on a cruise ship

Telegraph

14-04-2025

A new residential cruise line that is planning a fleet of five ships with suites costing up to $10million has had a 'tremendous response' with hundreds of enquiries, says the property developer behind it.
Crescent Seas, which was only formed in March, has already lined up the Regent Seven Seas ship Navigator for next year and Insignia, from Oceania Cruises, in 2027.
Two more vessels are being sought for 2028 and 2029, followed by a purpose-built ship, The Ocean, in 2032.
Many companies have outlined ambitious plans for residential vessels over the years, but this initiative is different as it is headed by Russell Galbut, who sat on the board of Norwegian Cruise Line Holdings – the parent company of Norwegian Cruise Line, Regent and Oceania – for 23 years.
He told The Telegraph: 'Everybody loves cruising. Everybody loves the sea. And you know what? The industry has exploded.
'When I started there were 100 ships, today there's almost 400 – people want to holiday and feel regenerated and that's one of the best ways to do it.'
Crescent Seas is chartering Navigator, which will be given a $50million refit to provide 210 residences, ranging from $750,000 to $8million. It will start sailing continuous world cruises in December next year, offering butler service, gourmet dining and Starlink internet connection.
The ship will be followed at the end of 2027 by Insignia, which will also be given a $50million overhaul to offer 290 residences priced between $650,000 and $10million.
'Everything will be upgraded,' said Mr Galbut. 'All the room furniture, every bathroom will be modernised. The ships are gorgeous today but we will make them brand new and modern.
'Using direct communication with satellites, people will be able to work from the ship. You'll be on board in Alaska and your customers will think you're in your office in Rome, New York or Tokyo.
'And yet you are there with your family discovering the world. If your child is studying geography, you can show them what's in the book. You're seeing it together.'
Every cabin will be given some cooking facilities but suites will have full kitchens. Alternatively, there will be culinary centres where passengers can entertain up to 20 friends, or have cookery lessons from the onboard chefs.
However they decide to dine, residents will be expected to buy $32,500 worth of food coupons a year, Mr Galbut said. 'The reason is that we need everybody to contribute to the operation of the food and beverage on board. You can buy wine with them, or whatever you want.'
Details about The Ocean won't be decided until the company gets feedback from its first two ships, though Mr Galbut said he was already talking to yards about building it.
The aim is to create a fleet of smaller vessels. 'The large cruise companies are building bigger and bigger ships, but no one living on a ship wants to have 5,000 people in their community,' Mr Galbut said. 'It's all about organising and orchestrating the right community of like-minded interests and desires.'
Unlike normal cruise lines, Crescent Seas will stay in ports for two or three days at a time. 'When you go to Venice and you leave by 5pm, it's a crime that you haven't seen it at night. And the same with all the great cities of the world.'
Navigator and Insignia will keep the same crew – and Mr Galbut is expecting to retain many of the regular passengers too. 'Customers are loyal,' he said. 'Some of them will want to be on this ship forever.'
Mr Galbut is expecting an 'international crowd' on board, with an average age in the 50s. Many will come from the 80,000 people who have previously been on a world cruise, he thinks, alongside retired naval officers, yacht owners and private bankers 'saving millions' from the tax breaks of being at sea.
An app will be used to set up social meetings and pickle ball matches, and help create a friendly atmosphere on board.
'When it's Christmas, there's going to be the children, the grandchildren, the uncles and the aunts on board,' said Mr Galbut. 'At other times you're going to have families touring the world and home-schooling their kids. Middle-aged people without children will be living a life of luxury and discovery. And then you're going to find the wealthy who are looking for that second or third home.'
So far the only operating residential ships are The World, which launched in 2001, and Villa Vie Residences, which entered service last year but has faced teething problems. Having a fleet will give customers much more flexibility over where to travel, Mr Galbut said.
'If you're in the Baltic and you want to be in the Med, we'll find someone in the Med who wants to be in the Baltic and trade you!'