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Luxury Yacht News

26 Dec 2023

Shipwrecks Teem with Underwater Life, from Microbes to Sharks

© Erik / Adobe Stock

Humans have sailed the world’s oceans for thousands of years, but they haven’t all reached port. Researchers estimate that there are some three million shipwrecks worldwide, resting in shallow rivers and bays, coastal waters and the deep ocean. Many sank during catastrophes – some during storms or after running aground, others in battle or collisions with other vessels.Shipwrecks like the RMS Titanic, RMS Lusitania and USS Monitor conjure tales of human courage and sacrifice, sunken treasure and unsolved mysteries.

10 Apr 2023

Credit Suisse Wins $41 Million Superyacht Lawsuit Against Saudi Prince

© YĂŒ Lan / Adobe Stock

Swiss lender Credit Suisse has won a $41 million lawsuit against a member of the Saudi royal family over a loan to refinance a super yacht, with London’s High Court ruling there was no viable defense to the bank’s case.Prince Fahad bin Sultan bin Abdulaziz al Saud is liable to pay his company Burgundy Sea Ltd’s debts to Credit Suisse, Judge Robert Bright said in a written ruling.The judge had ruled in Credit Suisse’s favor without a trial at a hearing last month, at which the prince and Burgundy were unrepresented


24 Oct 2022

Spain Moves Yacht Linked to Russian Oligarch After Payments Stop

Spanish authorities moved a luxury yacht linked to the sanctioned head of Russian defence group Rostec after the shipyard where it was berthed stopped receiving payments for its repairs, a transport ministry source said.The multi-million-dollar Valerie was transferred to a marina last month, the source and other officials said, highlighting the logistical challenges authorities have faced managing vessels being held across Europe because of sanctions imposed over Russia's military actions in Ukraine.Spain ordered the ship "frozen" - meaning the vessel can not be used or sold - in March, saying it was acting on European Union sanctions.

23 Aug 2022

Superyacht Linked to Sanctioned Russian Oligarch Auctioned in Gibraltar

A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February.The Axioma was granted entry into Gibraltarian waters and then impounded by the authorities in March after U.S. bank JP Morgan said its alleged owner Dmitry Pumpyansky had reneged on the terms of a $20 million loan.The 72.5-metre vessel is being auctioned by the Gibraltar Admiralty Court. It was listed for one day, with closed bids to be sent electronically by midday on Tuesday, a court spokesman said.Nigel Hollyer


07 Jun 2022

Russian Superyacht in Fiji Leaves for US Amid Legal Wrangling

A Russian-owned superyacht docked in Fiji departed for the United States on Tuesday after a court in the Pacific island nation ordered its removal, saying it was a waste of money to maintain amid legal wrangling over its seizure.The U.S. Justice Department's Taskforce KleptoCapture has focused on seizing yachts and other luxury assets of Russian oligarchs in a bid to pressure Russian President Vladimir Putin over the war in Ukraine.The 106-meter (350-foot) Amadea arrived in Fiji on April 13 after an 18-day voyage from Mexico. It was seized by Fiji authorities after the country's High Court granted a U.S. warrant last month that linked


09 May 2022

Italy Seizes Luxury Yacht Scheherazade Linked to Putin

The Italian government ordered police on Friday to impound a luxury yacht worth some $700 million that has been linked in the media to Russian President Vladimir Putin.The sleek, six-deck Scheherazade had been undergoing repairs in the Italian port of Marina di Carrara since September, but recent activity at the dockside suggested that the crew might be preparing to put to sea.A source with direct knowledge of a weeks-long investigation into the vessel said police believed the owner was Eduard Khudainatov, the former chief of Russian energy giant Rosneft who is not currently a target of EU sanctions.In a statement announcing the seizure order


18 Mar 2022

World’s Most Famous Superyacht Gets New BWTS

Christina O has been fitted with a low flow L series - split skid BIO-SEA L03 0087 BWTS system (Photo: Costas Carabelas images)

The world’s most famous luxury yacht is operating an advanced BIO-SEA ballast water treatment system from France’s BIO-UV Group.Christina O, the 1943-built motor yacht named after the only daughter of Greek shipping magnate Aristotle Onassis, was fitted with a low-flow BIO-SEA system last year as part of a major refurbishment at the D.K Fotinakis yard, in Greece.To fit the limited space available in the 325ft long vessel’s machinery room, the 87m3/h capacity BIO-SEA L03-0087 system was supplied on two separate skids – one housing all mechanical components


08 Mar 2022

Yacht Linked to Russian Oligarch Leaves Barcelona

A superyacht linked to Russian oligarch Roman Abramovich left Barcelona on Tuesday where it had been undergoing repairs in a local shipyard, ship-tracking data showed.The 140-meter (460-foot) My Solaris, which sails under a Bermuda flag according to monitoring site Marine Traffic, left Spanish company MB92's Barcelona shipyard just after 5 p.m. (1600 GMT) on Tuesday, according to the same site. MB92 declined to comment.The superyacht, which was built in a German shipyard and first took to the sea early last year, is one of a string of yachts owned by Abramovich, according to reports in luxury goods publications SuperYachtFan, SuperYacht Times and Forbes.Abramovich


03 Mar 2022

Russian Billionaire's Yacht Stuck in Hamburg Shipyard

© Olaf Gedanitz / Adobe Stock

A luxury yacht linked to Russian billionaire Alisher Usmanov, who faces EU sanctions over Russia's invasion of Ukraine, is sitting in a shipyard in the German port of Hamburg and local authorities said there were no plans to deliver it to its owner.Hamburg authorities denied that they had seized the more-than-500-foot (150 meter) Dilbar superyacht, which boasts a 25-meter swimming pool and is worth nearly $600 million. Forbes had reported on Wednesday that it had been undergoing


03 Mar 2022

France Seizes Yacht Reportedly Belonging to Rosneft Boss Sechin

French customs have seized a yacht belonging to Rosneft boss Igor Sechin as it tried to leave the Mediterranean port of La Ciotat in a breach of EU sanctions on Russian oligarchs, Finance Minister Bruno Le Maire said.The move came as western states are implementing massive sanctions, including asset freezes, against Russia for invading its neighbor Ukraine. A separate nearly $600 million luxury yacht owned by Russian billionaire Alisher Usmanov has also been seized, by German authorities, Forbes reported. The 88-meter "Amore Vero" arrived in La Ciotat on Jan.3 and was due to stay there until April 1st for repairs, the finance ministry said in a statement


27 Dec 2021

Italian Sea Group Buys Bankrupt Yacht Builder for $91 Million

(Image: Perini Navi)

The Italian Sea Group said on Wednesday it had bought bankrupt luxury yacht maker Perini Navi for 80 million euros ($91 million) in an auction held by a court in Lucca, Tuscany.Italian yacht makers Ferretti Group and SanLorenzo had also offered to buy the luxury sailing brand Perini Navi, which was declared bankrupt in January.The Italian Sea Group said in a statement that the deal, funded with most of the proceeds of its IPO and through bank financing, will double its order intake for refits and lead to new contracts for the construction of 90-130 metre motor yachts.($1 = 0.8835 euros)(Report

22 Sep 2021

Burger Boat Awarded New Ferry Build

(Image: Seacraft Design, LLC)

Manitowoc, Wis., shipbuilder Burger Boat Company announced it has begun work on a new vehicle and passenger ferry for the Eastern Upper Peninsula Transportation Authority (EUPTA), located in Sault Ste. Marie, Mich.Due to launch Summer 2022, the 92-foot steel ferry will operate year-round on the St. Mary’s River in Michigan’s Upper Peninsula between Barbeau, Mich., and Neebish Island. The ferry was designed to operate in the harsh winter environment and through the solid ice conditions it will encounter on its route.The ferry is designed by Seacraft Design, LLC of Sturgeon Bay, Wis.

15 Sep 2021

Italian Sea Group H1 Sales, Core Profits Double

Credit: Italian Sea Group

Revenues and core earnings at the Italian Sea Group at least doubled in the first half of the year thanks to new contracts, allowing the luxury yacht maker to narrow its full-year guidance to the higher end of a previously given range.Shares rose more than 4% after the results were released and were up 2.4% by 1200 GMT, outperforming a 0.6% drop in Milan's all-share index.The group had initially guided for 2021 net sales of between 160-170 million euros ($189-201 million) and adjusted earnings before interests, tax, depreciation and amortization (EBITDA) in the range of between 25-26 million e

07 Aug 2020

Robert Allan Ltd. Celebrates 90 Years of Business

(Photo: Robert Allan Ltd.)

In business, as in life, after major anniversary milestones like 60 (Diamond) and 75 (Diamond or Sapphire), it seems that every year after that is worth celebrating. However, 90 years is somewhat in the nether regions of celebrations; certainly, a major achievement after say 75, but not quite the centenary either. However, Robert Allan Ltd. has been an active and growing business now for 90 years and we believe that is worth celebrating in a time when it feels, frankly, that there is not a great deal to celebrate.The family lore has always been that my grandfather


08 Jul 2020

Amels Launches 77m Luxury Expedition Yacht La Datcha

(Photo: Amels)

Damen's luxury yacht builder Amels has launched a new 77-meter expedition yacht La Datcha.La Datcha’s emergence from her building hall in the Netherlands this week marks the start of the final stages of her build process before she heads on a global charter itinerary which is set to include heli-skiing in Kamchatka, the Kuril Islands and dive adventures off Papua New Guinea. This a yacht built for adventure – custom designed to explore the world’s far-reaching destinations without compromising on luxury.

01 Apr 2020

BIO SEA BWTS Approved by USCG and IMO

Photo: BIO-UV Group

BIO-UV Group has received IMO & USCG type approval for its next generation low flow rate ballast water treatment system range.The BIO-SEA L Easy-to-Fit system had to undergo new type approval testing as it incorporates a completely new UV-reactor, designed to meet market demand from the luxury yacht, expedition cruise and offshore vessel segments, where ballast water pump flow rate capacities are often under 100m3/h.Benoît Gillmann, BIO-UV GROUP CEO and Founder said: “We are pleased


04 Sep 2019

Expedition Cruise Market Powers Ahead

National Geographic Endurance for Lindblad. Source: Ulstein Verft AS

While nothing lasts forever, the cruise industry – and particularly the ‘expedition’ cruise sector – remain on a historic run with no indication of a near-term slowdown.The leisure travel sector, of which expedition cruising is a part, offers numerous possibilities for delivering new “experiences” unlike industrial shipping businesses (or even conventional ferry and passenger transport), which can only grow as fast as the demand in a particular sector.Though there is no precise definition of “expedition”


16 Apr 2019

Ferretti's Owner Aims to List Yacht Maker

Photo courtesy of Ferretti Yachts

Chinese conglomerate Weichai Group, which owns a near 87 percent stake in Ferretti, plans to list the luxury yacht maker but has still to decide a timetable for the deal, the Italian firm's chief executive said on Tuesday."The listing is an opportunity," Ferretti CEO Alberto Galassi said. "Our Chinese investor sees it as a natural evolution of its investment."He added that the formal process for the initial public offering had not yet started, and that it could be difficult to complete the deal by year-end."It is up to shareholders to decide


15 Apr 2019

CdM Sells Newbuild DEEP BLUE 43

The Italian luxury yacht builder Cantiere delle Marche (CdM) announced the sale of DEEP BLUE 43 a new, fully custom 43-metre explorer yacht designed by Horacio Bozzo Design.DEEP BLUE 43 is the latest addition to the yard’s significantly active Order Book. The contract has been signed last December and the latest project’s details have been defined in these last few weeks. The yacht is already under construction with delivery due in 2021.DEEP BLUE 43 has been commissioned by an experienced Owner who, in the past years, owned yachts built by shipyards such as Feadship, Lürssen, Blohm and Voss. He is a repeated client for CdM, a yard which


18 Mar 2019

CRN Launched New Megayacht

Part of the Ferretti Group of luxury yacht brands, superyacht builder CRN has launched the M/Y 135, the new fully custom steel and aluminium megayacht.Over a thousand people were there to witness the occasion at an elegant private ceremony, where the majestic personality of this magnificent ship took centre stage, to the delight of all who have worked to design and build her, claimed a press release.The yacht is 79 metres long and with a beam of 13.50 metres. "Her sleek lines catch the eye, crisply emphasized by the smooth profile of her hull. She is the fruit of another successful collaboration between CRN and the architects Zuccon International Project


04 Sep 2018

Wärtsilä Rolls Out New Solid State Radar

WÀrtsilÀ Nacos Platinum solid state S-Band radar system (Image: WÀrtsilÀ)

Wärtsilä introduced its new Nacos Platinum solid state S-Band radar system at the SMM trade fair in Hamburg.The next generation marine radar offering promotes safety via optimized target detection, regardless of the prevailing environmental conditions, the manufacturer said. Furthermore, the compact design enhances system reliability, while the elimination of a magnetron creates a reduction in maintenance costs compared to conventional radar systems.“Wärtsilä’s smart marine vision is to utilize the latest technologies


13 Aug 2018

Dutch Superyacht Builders Propelled by Rising Economic Tide

(File photo: Heesen)

With three lounges, three dining rooms, an open-air jacuzzi, a bar and six luxury cabins, the 50-meter "Aster" is one of Dutch shipyard Heesen's more modest superyachts.The Netherlands, which amassed huge wealth through the technical superiority of European shipbuilders during its 17th century Golden Age, is continuing its maritime tradition by carving out a prominent place in the luxury yacht industry."It's a big year for us," Johan Kaasjager of Heesen Yachts told Reuters at his shipyard in Oss. "We'll have delivery of three yachts this year and still a lot to come.

10 Apr 2018

Interview: William Harber - Hurtigruten, Americas President

William Harber, President, Americas Region, Hurtigruten

As the luxury yacht/adventure sector of the global cruise market continues to gain strength, Maritime Reporter & Engineering News recently received insights from Hurtigruten, a clear leader in the sector. William Harber, President of the Americas Region, Hurtigruten, explains the path forward. Please discuss Hurtigruten’s plans to ramp up its North American presence. We are indeed ramping up our presence in the Americas. From a distribution perspective, Hurtigruten is developing stronger, deeper and more strategic partnerships to drive our expedition cruise products.

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