Hospitality and events company Smart Group has scrapped plans to launch Oceandiva, a new sustainable events vessel on the River Thames in London.

The £25m Oceandiva floating venue, originally due to launch in late 2022, was hit by a series of delays and setbacks. It sustained damage during tests last June, which resulted in The Meetings Show hosted buyer event having to be moved to a new venue at the last minute.

The vessel has also been subject to significant opposition from local residents, businesses and politicians over concerns that it would attract antisocial behaviour and harm the environment.

Smart Group said in a statement that Oceandiva had been compelled to return to EU waters following “prolonged challenges in navigating the complex web of regulatory and certification processes” in the UK.

“Despite obtaining the prestigious Green Award’s Platinum Label, the combination of regulatory challenges and infrastructural inadequacies proved too great to overcome. The ‘Oceandiva London’ stood as a beacon for the future, the world’s first carbon-neutral floating event venue of its calibre.

“We are grateful for the way in which Oceandiva London was received by clients and the events industry alike. It is with much regret that we are unable to bring this innovative project to fruition and thank you for your support and interest in the venue.”