Published at Monday, June 04th 2018. by leonda avril in Cruise Ship Cabins.
The asking price for this ship is less than the price for one large apartment on The Magellan. The asking price and selling price are two different prices. This ship could probably be bought for about 11 million dollars. It would be foolish to finish this ship in a Greek union shipyard. It can be economically towed over to the nearby shipyards in Tuzla Turkey. The ship can be finished there quicker and for about half the price and with better craftsmanship. This ship could be bought and finished to a high standard equal to The Orphalese for a total cost of much less than 100 million dollars (maybe even as low as 60 million). It can be finished to order with each residential unit customized to suit its owner(s). The finished product would be a brand new completely modern ship with luxury homes onboard which would be at least as good or better than any on the market. That still seems like a big chunk of change. But this is a big ship and it would easily accommodate 200 luxury residential units and an additional 200 or so conventional cruise cabins like The Orphalese. The average cost of the residential units would be less than $500000. That would mean that the smaller residential units would cost much less than the average price. Also with an additional two hundred (plus) conventional cruise cabins the cabin owners could recoup much of the operating costs and thus virtually eliminate the maintenance fees for themselves. The expense to owners can be less than 10% of the going rates if the buyers did not need to pay some slick promoters and salesmen but just bought the ship directly themselves sharing the actual costs by dividing the ship ownership among the buyers. Why would anyone want to pay ten times as much money to buy and much higher maintenance fees for a similar shipboard residential unit? The only reason I can think of is to impress others with how much money they can afford to throw away. Again the asking price is subject to negotiation. Used ships can be refurbished to look practically new and can be brought up to international safety standards (SOLAS). There are shipyards around the world that can do good quality work at even lower cost than the shipyards in Tuzla Turkey. If a ship is currently lying in Greece (as many are) then Tuzla is the best place to tow it for major shipyard work. The SE shipyards in the Black Sea port of Nikolaev Ukraine offers the best value for the money in that part of the world. The bottom line is that smart shoppers can get good deals even on lavish purchases such as a luxury residential home aboard a cruise ship. I maintain a list of those who have expressed an interest. The list is confidential and will not be shared for any marketing purposes. The purpose of maintaining the list is to facilitate joint ownership directly between buyers without any middlemen or promoters involved.
I was able to negotiate with the owner John Kosmas and get some concessions. I got the price down to $500000. And at that price he agreed to bring the ship into compliance with SOLAS 2005 and also to include new paint topside. The ship was fairly well furnished even including bed linen but the ship had been laid up for years. Its most recent service was in the Mediterranean and Black Seas. Cruise ships that trade exclusively in the Mediterranean and Black Seas tend to have smaller cabins and fewer amenities than the typical cruise ships that frequent the Caribbean. The bottom line is that this ship was an economy model not a luxury model. When I was inspecting the engine room I asked for the engine log. When I opened it I noticed all the entries were in Greek. I was able to discern some dates and other data that told me when the ship was last in service but I could not read the Greek entries so I handed the engine log back to the ship owner and told him It`s all Greek to me. Being Greek Mr. Kosmas failed to find the humor in that.
There are hundreds of cruise ships on the market but I will just mention one more here. This cruise ship has RO/RO (Roll-On Roll-Off) capability. This would be very convenient for live aboard owners who want to bring their toys with them. The garage deck will accommodate 6 to 8 trucks or 60 to 80 cars. That converts to a lot of co-owner toys such as motorhomes travel trailers campers cabin cruisers ski boats jet skis sailboats houseboats bass boats motorcycles ATVs cars and trucks.
There are some other figures that must be tabulated into the total cost of ownership. Acquisition cost is first and foremost. The next figure is the cost to put the ship in service. On an older ship this cost may be higher than the acquisition cost. On the other hand the cost to put a ship into service can be much lower if you were to get a good deal on a ship that already meets the international standards for ship safety especially SOLAS (Safety of Life at Sea). Maintaining compliance with Chapter II SOLAS 74 amendments is cost prohibitive for some older ships and they are typically scrapped instead of being refurbished at great expense. There is a very important SOLAS implementation date coming up on January 10 2010. On that date all commercial international ships will be required to be in compliance with the new fire safety codes. The most important new codes deal with the use of combustible materials in the ship. It will be expensive to replace all combustible materials in ships with non-combustible or flame resistant SOLAS compliant materials that meet the new safety standards. This will result in many ships being sold for scrap metal.
For comparison purposes it is noteworthy that you have expenses in land based housing too. Those expenses include property taxes homeowners insurance maintenance and repairs yard care and utilities. Additionally you have transportation costs and of course food costs. Most people also spend money on entertainment too. When these expenses are added up the maintenance fees for living aboard a ship are comparable.
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