SeaDream Yacht Club has withdrawn an order for new ship SeaDream Innovation

The Damen shipyard in Romania was due to start building the luxury line’s first new ship in October.

But the company confirmed that it has decided not to proceed with the project.

“Both parties are open to potential future projects and collaboration,” SeaDream added.

The new vessel was scheduled to be delivered in September 2021 and booking opened eight months ago.

SeaDream is “actively pursuing” other newbuild opportunities, according to owner and chairman Atle Brynestad.

“The company has been debt free for several years and has the equity needed to expand the fleet,” he said. “We hope to announce a new ship in 2020.”

Executive vice president Andreas Brynestad said: “The response from our past guests and the market in general has been overwhelming, despite the ship not being scheduled for delivery for almost two years.

“Since the ship will not be delivered, all booked guests will be contacted and issued full refunds in the coming days.”

The existing fleet of two ships, SeaDream I and II, continue to perform well, with the company reporting record revenue years.

Current plans of refurbishing the suites on SeaDream I and II will proceed as previously announced and planned – starting with SeaDream II in spring 2020.