SEOUL—Investors led by a U.S. firm placed an order with a South Korean shipbuilder for a $1.1 billion ship conceived as a floating luxury residence that will cruise the world visiting events like the Cannes Film Festival, the Sydney New Year's Eve celebration and Carnaval in Rio de Janeiro.
The order, announced last week by Utopia Residences Co. of Beverly Hills, Calif., marks the first time a cruise ship will be built by Samsung Heavy Industries Co., the world's second-largest shipbuilder by order value after Hyundai Heavy Industries Inc.
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