The letter of intent to build a cruise ship for Norwegian Cruise Line, announced in December, has been cancelled, according to Aker Finnyards.

The announcement also included an option for a second ship.

The original deadline for converting the letter of intent into a contract was Jan. 31, but was extended for another month, with that deadline also passing.

It is the first time a letter of intent between one of the major cruise lines and shipyards has not resulted in a firm building order. Aker Finnyards said that the "parties have not been able to realize the project within the given constraints."

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