SeaDream Yacht Club and Damen have decided not to proceed with the building for a new ship for SeaDream, a spokesperson for the cruise line tells Luxury Travel Advisor

This past March SeaDream had announced plans for the SeaDream Innovation, which would have marked the first fleet expansion for the brand since its founding in 2001. Plans had originally called for the ship to launch in 2021; all guests who had been booked on the planned vessel will be contacted and issued full refunds in the coming days, SeaDream 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,” said Andreas Brynestad, SeaDream’s executive vice president, in a written statement. “Since the ship will not be delivered, all booked guests will be contacted and issued full refunds in the coming days.”

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SeaDream also said that it is actively pursuing other newbuild opportunities, and that it hopes to announce a new ship in 2020. Atle Brynestad, SeaDream’s owner and chairman, noted that the company has been debt-free for several years, and as a result has the equity needed to expand its fleet. Additionally, the refurbishment of the suites on the line’s existing mega-yachts, SeaDream I and SeaDream II, will continue as planned, starting with the SeaDream II in 2020. 

SeaDream and Damen both said that they remain open to potential future projects and collaboration. 

This article originally appeared on www.travelagentcentral.com.

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