In a new twist, the Swedish-initiated Panta Rei five-ship building program, will instead reportedly be launched under the name of Swedish American Cruises reminiscent of the former Swedish America Line.

Plans call for five 12,000-ton, 266-passenger cruise vessels to be built by Cantiere Navale Ferrari at a cost of about $143 million each. The vessels will be aimed at the very top end of the luxury market targeting individual passengers as well as the incentive market.