12 min ago
Cruise ship sold to new cruise company
The' Satoshi' has been sold to a new startup cruise company. Having been arrested in Panama late in 2020, theship was recently released and arrived in Bar City in Montenegro on March 27, 2021. The ship was sold to Ocean Builders, which planned to turn it into a cryptocurrency tech hub off the coast of Panama with apartments aboard up for auction. Ocean Builders took delivery of the ship in November 2020, hired a vessel management firm, paid for a drydocking and sailed the ship to Panama, but abandoned the project citing insurance issues. At that point, the vessel was sold for scrap and at the same time, arrested in Panama. After the legal issues were resolved, the cruise ship may have a new life with a new cruise line, starting service later this year.
Satoshi Project dead
The 'Satoshi' project is dead, as the former 'Pacific Dawn' has been sold for scrap, according to a statement from Ocean Builders, which was aiming to setup a floating tech hub for small businesses with the aim to support crypto currency off the coast of Panama. After buying the ship, hiring a vessel management company and even completing a class drydocking, the company said they had hit an insurance roadblock. The ship has since quickly been sold to scrap and will sail to Alang. After an exhaustive search for an International Group P&I Club insurance group to insure the 'Satoshi' we have hit the roadblock of having no insurance company willing to insure the 'Satoshi' upon dropping anchor in the Gulf of Panama. # The company had opened bidding on cabins for residency in November 2020 and has promised refunds. "We had requested from the Panama Marine Authority to be considered a non-seagoing vessel which likely would have lessened the burden for insurance, eliminating the requirement to comply with about 32 of the 35 international maritime treaties which Panama has agreed to. However they came back letting know that because we have an engine and we have a flag, we are to be considered seagoing. While we could have spent months and millions of dollars fighting, lobbying ´or coming up with some complex alternative insurance solution to comply with the laws, we just did not have the support from the very communities which we created this project to support. Namely the seasteading community and the Bitcoin community. On the contrary, we were constantly attacked by the very people that we were trying to help."With so many roadblocks ahead of us with the insurance being a show stopper and no support behind us, it is with a heavy heart that we have decided to sell the 'Satoshi' and go back to focusing on our floating homes in Panama.
Cruise ship to become floating residence Satoshi
The 'Pacific Dawn' will become a floating community permanently anchored in the Gulf of Panama. The Ocean Builders company that is also developing floating, off-grid seapod homes, has entered into a deal to acquire the cruise ship which was being sold by P&O’s parent company Carnival Corporation as they work to rationalize their fleet accelerating disposals due to the impact of the pandemic on the cruising. The company is scheduled to take delivery of the cruise ship on Nov 4 in the Mediterranean. They are working with Columbia Cruise Services to take care of the management of the operations of the ship which will be renamed 'Satoshi'. Also being referred to as “The Crypto Cruise Ship,” Ocean Builders plans to begin auctioning of cabins on Nov 5, the day after they take ownership of the former 'Pacific Dawn'. Starting with the staterooms on Deck 10, they plan to sell them in a similar fashion to a condo. Buyers will acquire full, indefinite ownership of their cabin paying a monthly fee to cover operating expenses and subject to condo-style rules. The first sale is to consist of 200 cabins in auctions scheduled to run from November 5 to 28. They are tentatively being priced at between $25,000 and $50,000. A total of 777 cabins will be available for a total occupancy of 2,020 people. The plan is to offer cabins for sale one deck at a time moving down the ship’s decks as they sell out on one deck. Residents will also have access to all of the ship’s amenities ranging from the restaurants to bars, lounges, and casinos as well as the fitness center. The commercial space will be operated by individual companies and Ocean Builders is hoping to attract business owners to operate those spaces while living aboard. Residents will either pay as you go for services or Ocean Builders plan to offer meal plans. Because the cabins will not be retrofitted into apartments with kitchens, residents will be eligible for a 20 percent discount at all the restaurants. The Crypto Cruise Ship is being prepared to set sail from the Mediterranean and will anchor in the Gulf of Panama. It will be a 30-minute ferry ride from the ship to reach Panama City. Ship operations will be run by a spinoff company called Viva Vivas. According to the current plan, the 'Satoshi' would be available for residency early in 2021.Upload News