Crescent Seas, a new residential cruising start up, will not be chartering the Regent Seven Seas Navigator and Oceania Insignia.

Norwegian Cruise Line Holdings (NCLH), the ship owner, said in an SEC filing that the two lease agreements signed in March 2025 for both ships had been terminated prior to Sept. 30, 2025 and that the company had received a nominal fee.

The lease deals were 10-year charters with a buy option at the conclusion of the 10-year term.

In an emailed statement to Cruise Industry News, a spokesperson for Crescent Seas said: “Through hundreds of conversations with potential buyers, it became clear that demand for larger, more customizable residences far exceeded expectations. In response, Crescent Seas is evolving its strategy — transitioning focus from existing ships

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