Evrima was due to debut in June, but will now set sail on 22 April 2021 on a trip from Lisbon to Palma de Mallorca.
There have been delays at the Hijos de J Barreras shipyard as the coronavirus pandemic sweeps across the world.
The majority of shareholders at the shipyard agreed to hand over control to Cruise Yacht Yard, an affiliated entity of Evrima’s owner and led by Douglas Prothero.
“We sincerely apologise to all guests who were ready to sail with us,” said Prothero.
“We remain deeply committed to ensuring a seamless delivery of the standards of quality and service that Ritz-Carlton is known for as well as providing a highly customised, state-of-the-art build that will make our inaugural yacht the most distinctive of its kind.”
Travel agents’ cruise-only commissions on Evrima bookings will be protected, and customers can rebook or get a refund.