Ferretti News

The U.S. Navy's efforts to build a fleet of unmanned vessels are faltering because the Pentagon remains wedded to big shipbuilding projects, according to some officials and company executives, exposing a weakness as sea drones reshape naval warfare.The lethal effectiveness of sea drones has been demonstrated in the Black Sea where Ukraine has deployed remote-controlled speed boats packed with explosives to sink Russian frigates and minesweepers since late 2022.Yemeni-backed Houthi rebels have employed similar vessels against commercial shipping in the Red Sea in recent months…

During this year’s annual conference held in Edinburgh, the International Union of Marine Insurance (IUMI) took the opportunity to explore and debate the question of diversity, equity, inclusion and belonging (DEIB) with the ambition of taking concrete steps to enhance its own representation and that of the marine insurance community more generally.Patrizia Kern-Ferretti, Chair of IUMI’s Nominating Committee, is driving the initiative and explained: “In 2010, after IUMI having been in existence for more than 135 years, I was only the second woman to chair an IUMI Technical Committee.

Industry veteran Marco Santoro has taken the helm as chief executive officer at Miami yacht repair yard RMK Merrill-Stevens.A naval architect and marine engineer, Santoro began his career in yachting as part of the technical department at Italy's Rodriquez Yachts. In 2003, he joined Italian yacht builder the Ferretti Group as an intern in the after sales and service department, and over the course of 20 years worked his way up through a number of leadership roles, culminating as the company's vice president of refit and retail works. “My journey in this company was amazing.

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

Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel.In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that…

When Chinese billionaire Jack Ma took a trip to Spain's Mallorca island last month, much was made of it being his first foreign foray since a 2020 fallout with regulators had clipped his wings.However, Ma's sunny sojourn on his newly-built 88-metre (289 ft) cruise boat Zen - estimated to be worth $200 million - also put a spotlight on a global trend: the return of the superyacht.As the number of billionaires grows and COVID-19 has added to incentives for avoiding crowds, the multi…

Italian yacht manufacturer Ferretti Group said that its brand Custom Line has achieved its goal of 14 launches in 2019 and of the sale of two Navetta 33s in December alone.Three new launches were held during the last three months at the Ferretti Group’s Superyacht Yard in Ancona: Custom Line 106’ was launched on 28 October, a Navetta 42 on 3 December, and a Navetta 28 took to the water on 12 December.These latest débuts show once again the tremendous commercial success of 28-42 metre Custom Line vessels, the leaders in comfort, technology and design. As many as 14 Custom Line yachts were launched in 2019 at the Ferretti Group Superyacht Yard…

The Ferretti Group announced that it has gained new orders worth $510.1 million (465 million euros) during the first nine months of the year, up 18 percent compared to the same period in 2018.The Italian boatbuilder said in a press statement that its Wally brand helped increase its order book. It also signed contracts for 16 coastal patrol boats in its Ferretti Security Division."These positive results have benefited from the launch of five new models under our Riva, Pershing, Ferretti Yachts and Custom Line brands, as well as from the relaunch of the Wally brand, which we acquired in April this year. In particular, our first serial model under the Wally brand…

Italian motor yacht maker Sanlorenzo aims to list on the Milan Stock Exchange at about the same time as the rival Ferretti Group, with an initial public offering (IPO) expected to be launched as early as the second half of October, two people familiar with the matter said on Wednesday.The group is controlled by Italian entrepreneur Massimo Perotti through a family holding which bought back shares from third party investors in the recent years.The group plans to issue a mix of existing and new shares, targeting a free float of about 35%, one of the sources added.Sanlorenzo has picked Unicredit, Banca Imi and Bofa Merrill Lynch as global coordinators for its IPO.

Italian multinational shipbuilding company Ferretti Group expands its presence in Europe and announces a new dealership agreement with W / Yachts, that will dedicate itself to the exclusive marketing of Pershing and Ferretti Yachts brands in Poland.The partnership will allow the Group to further consolidate the coverage of the assistance network in Eastern Europe, guaranteeing a full service to the shipowners of the region, starting from the order time to the post-sales.“This agreement is another important step in our ambitious process of strengthening and expanding our business. We have decided to rely on a highly experienced nautical broker…

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…

The new flagship, named “Race” by its owner, took to the seas in a ceremony at the Riva Superyachts Division shipyard in Ancona."Riva 50 mt realises the dream of Carlo Riva who, in the 1960s and ‘70s, driven by his brilliantly ambitious desire to exceed every limit, created the famous Caravelle and Atlantic series steel motor yachts of which Riva 50 mt is the worthy heir, with her peerless standards of aesthetics, style and innovation," said press release.At 50 meters long and with a maximum beam of 9 meters, she offers an outstanding experience at sea, featuring comfort, elegance, care over detail and exceptional yacht building expertise.

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…

Pershing has announced the launch of its first aluminium superyacht, the flagship Pershing 140.The 42.53m yacht hit the water in the Ferretti Group's Super Yacht Yard in Ancona, a facility specializing in building steel and aluminium superyachts above 40 metres, said a press release from Pershing Yacht, a Ferretti Group unit."Born from a collaboration between architect Fulvio De Simoni, the Ferretti Group Product Strategy Committee led by engineer Piero Ferrari, and the Group's Engineering Department, the new 140-footer (LOA 43,3m) is the first Pershing to be produced at the Ancona Superyacht Yard, a Ferretti Group facility specialized in building super and mega yachts above 40 m…

Ferretti Group, player in the international boating industry, Group aims to further strengthen its position with the start of a new partnership with Ocean 360.Ferretti considers the Middle East market as an excellent breeding ground for high-end motor yachts. Through this agreement, Ferretti wants to give a boost to the marketing of its boats and brands in the United Arab Emirates, Oman, and Egypt.The strategic move is destined to strengthen the Italian yachts producer’s position in the Middle East, by extending the customer’s experience of the luxury brand beyond the yachts, through integrated high-end services that cover all needs related to a lifestyle of indulgence at sea.Ocean 360 is the right partner to achieve this…

Fincantieri and Ferretti Group today announced they have signed a wide-ranging co-operation agreement , with the aim of developing industrial and commercial synergies between the world's two leading Italian companies in their respective sectors. The announcement was made during the show IDEX-NAVDEX of Abu Dhabi , one of the most important international exhibitions dedicated to the defense and security sector. The MoU refers to both the defense and security sector and to the yacht building. In both sectors the skills and expertise of the two great Italian groups are complementary and synergistic and understanding of collaboration opens up many possible scenarios.

The International Union of Marine Insurance – unveiling its annual statistical report on the marine insurance market at today’s conference in Genova, announced global underwriting premiums for 2015 of USD 29.9bn. This is a 10.5% reduction on the 2014 figure. Vice-Chairman of IUMI’s Facts & Figures Committee, Astrid Seltmann explains, “Part of the reduction can be attributed to the strong US dollar as compared with other currencies but this is not the whole picture, particularly for hull and offshore energy where much of the original business is written in USD. Technical insurance results for the 2014 underwriting year deteriorated strongly for cargo, hull and energy sectors compared with last year’s reported data for the same period.

Traditionally, Italy’s location and coastal development have continued to ensure the country a flow of income from its role as a strategic European hub in what has come to be known as the new “maritime century.” The country boasts of having the largest ferry fleet, the twelfth most extensive merchant shipping fleet in the world (fourth in Europe), and the third biggest European fishing fleet, with the national maritime cluster generating 3% of GDP. But its growing cruise industry is being looked upon as the game changer to the gradual slump being witnessed in the other sectors. Italy remains “one of the most important destinations, the market of origin for large cruise lines and a world leader in shipbuilding.

Italian luxury yacht builder Ferretti, owned by Chinese industrial conglomerate Weichai Group, has created a new unit to build boats for the patrol and defence of international waters, lands and coastlines, it said on Wednesday. Ferretti Security and Defence (FSD) will design, develop and manufacture defence vessels, target the Middle East and Asian markets, collaborate with other bigger defence companies, and its parent will invest 5 million euros ($5.48 million) in the division this year, Ferretti Chief Executive Alberto Galassi said at the unit's launch in Rome in comments confirmed by a spokesman. The move comes as countries around the world are beefing up defence budgets to respond to heightened security concerns.

Global premiums for 2014 amount to USD 32.6bn. Although a 3.2% reduction on the 2013 figure, converting local currencies to a single US dollar figure was impacting on the true result. In the cargo sector, a number of local markets experienced positive growth but that growth was largely hidden by the strong US dollar. It is generally assumed that a loss ratio of 70% or less represents a “technical profit” for the sector. While the 2014 underwriting year seems to have produce a technical profit (based on figures as of December 2014) it is likely that the Tianjin explosion – as potentially the largest single cargo loss ever recorded - will impact significantly on 2014 and 2015 results. The outlook for the cargo market is hard to predict in light of the current changing economic environment.

With its coastline of 7,800 km, Italy is expediently nestled in the heart of the Mediterranean Sea with the surrounding waters creating a tremendous resource for Italian economy. Businesses linked to the sea, including ocean technology firms, contribute significantly to Italy’s gross domestic product totaling more than $40 billion and representing 2.6% of total GDP. The Italian shipyard industry ranks among the top 20 in the world with ship building and boat-building accounting for 64% of the industry turnover, totaling 6.3 billion Euro in 2012, and Technological Equipment placed at 2.2 billion Euro. Italy is also a world leader in yacht production with more than 49% of the market share.

MTU will be presenting its propulsion and system solutions at the International yachting “Festival de la Plaisance” in Cannes from September 9-14, 2014. Visitors will be able to discover the extensive portfolio of the Rolls-Royce Power Systems subsidiary at Stand JAS-025. An advanced Series 2000 M96 yacht engine which meets US emission stage EPA Tier 3 (for leisure craft) will be on view for the first time. “The latest generation of Series 2000 engines stands out with optimized acceleration and low fuel consumption. The engine meets EPA Tier 3 emission limits using in-engine technology only and without having to resort to exhaust aftertreatment”, explains Dr. Michael Haidinger, Chief Sales Officer at Rolls-Royce Power Systems.

CRN say they have signed  a Letter of Intent (LOI) with a Chinese client for a 68 metres superyacht, the biggest vessel ever sold by CRN and Ferretti Group in China. The historic Italian shipyard of Ancona, part of Ferretti Group, which specialises in the construction and sale of fully-customised displacement megayachts, ranging from 40 to 90 metres in length, will build the new vessel. The 68 metres in length and 12.50 metres in breadth megayacht, to be built of steel and aluminium, is designed by Zuccon International.