Utopia Signs Letter of Intent with Samsung

Utopia Residences and Samsung Heavy Industries have signed a letter of intent to build a 105,000-ton ship combining the best features of a private residential vessel with those of a cruise ship, explained Captain Ola Harsheim, senior vice president of shipbuilding and operations. The construction cost is estimated at $1.1 billion, and plans call for a contract to be signed next summer and delivery in 2013.