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Dunya Yachts

Update on Russian yachts seized

News is being shared of Russian yachts seized, here we have outlined the news behind those claims.

Update on Russian yachts seized: 142m Lürssen superyacht Nord returns to Russia

With 2023 nearly upon us, the SuperYacht Times Synopsis, brought to you by <a href="https://superyachttimes.ac-page.com/homepage" rel="noopener noreferrer" target="_blank" title="">SYT iQ</a>, looks back over the year for a rundown of the top business stories from 2022. &nbsp; Big business reads<img src="https://photo-assets.superyachttimes.com/photo/247938/image/large-75ecff1795c3056e99a72cf8b952120f.jpg" data-gid="gid://syiq/Photo/247938"><a data-gid="gid://syiq/Article/56323" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen and Rolls-Royce “to write yachting history” with new partnership toward a sustainable future (2022-11-04 14:30:00 +0100)">Lürssen and Rolls-Royce “to write yachting history”</a><a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> has partnered with <a data-gid="gid://syiq/Company/2207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rolls-Royce Marine (Company)">Rolls-Royce MTU</a> for the development of methanol as an environmentally and climate-friendly fuel for yachts.<ul><li><a data-gid="gid://syiq/Article/54534" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Breaking: Sanlorenzo to build 50m superyacht equipped with hydrogen fuel cells (2022-02-03 15:30:00 +0100)">Sanlorenzo to build 50m superyacht equipped with hydrogen fuel cells</a></li><li style="font-weight: bold;"><a data-gid="gid://syiq/Article/56027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Al Seer Marine, MB92 and P&O Marinas to create superyacht service centre and refit shipyard in Dubai (2022-09-27 16:15:00 +0200)">Al Seer Marine, MB92 and P&amp;O Marinas to create superyacht refit shipyard in Dubai</a></li><li><a data-gid="gid://syiq/Article/55716" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax acquires IGY Marinas for $480 million (2022-08-09 14:45:00 +0200)">MarineMax acquires IGY Marinas for $480 million</a></li><li><a data-gid="gid://syiq/Article/56268" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Italian shipyard CdM sold with Vasco Buonpensiere appointed CEO (2022-10-28 16:45:00 +0200)">Italian shipyard CdM sold with Vasco Buonpensiere appointed CEO</a></li><li><a data-gid="gid://syiq/Article/56536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Raphael Sauleau appointed CEO of IYC (2022-12-08 16:30:00 +0100)">Raphael Sauleau appointed CEO of IYC</a> &nbsp;</li><li><a data-gid="gid://syiq/Article/54952" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="OneWater Marine finalises acquisition of Denison Yachting (2022-04-12 16:00:00 +0200)">OneWater Marine finalises acquisition of Denison Yachting</a></li><li><a data-gid="gid://syiq/Article/54709" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bremerhaven Lloyd Werft Shipyard sold to contractors (2022-03-07 09:15:00 +0100)">Bremerhaven Lloyd Werft Shipyard sold to contractors</a> </li><li><a data-gid="gid://syiq/Article/54829" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group floats 83.5m shares on the Hong Kong stock exchange to finance future investments (2022-03-24 09:15:00 +0100)">Ferretti Group floats 83.5m shares on the Hong Kong stock exchange</a></li><li><a data-gid="gid://syiq/Article/55003" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Full steam ahead for the Perini Navi rebirth with three new sailing yachts (2022-04-21 13:45:00 +0200)">Full steam ahead for the Perini Navi rebirth with three new sailing yachts</a></li><li><a data-gid="gid://syiq/Article/56068" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto to build 60m flagship T60 superyacht on speculation (2022-10-03 12:30:00 +0200)">Baglietto to build 60m flagship T60 superyacht on speculation</a> &nbsp;</li><li><a data-gid="gid://syiq/Article/56301" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic42 superyacht refit and maintenance centre in Montenegro officially opened (2022-11-02 12:30:00 +0100)">Adriatic42 superyacht refit and maintenance centre in Montenegro opened</a> &nbsp;</li></ul><img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">Largest&nbsp;launches and deliveries<img src="https://photo-assets.superyachttimes.com/photo/233017/image/large-fc65cb6dab2951f3f2f0ad8f76a5e96e.jpg" data-gid="gid://syiq/Photo/233017"><a data-gid="gid://syiq/Article/55461" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Video: The 160m Lürssen superyacht Blue has been delivered (2022-07-04 08:30:00 +0200)">The 160m Lürssen superyacht Blue has been delivered</a>The 160m <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> superyacht <a data-gid="gid://syiq/Yacht/7683" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue160.0m (524'11&quot;)Lürssen Yachts2022">Blue</a> was delivered to her owner from the <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> Aumund facility in Germany. The 14,785 GT superyacht is one of the biggest superyachts in the world.<ul><li><a data-gid="gid://syiq/Article/56443" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="146m Lürssen superyacht Opera on sea trials (2022-11-24 14:00:00 +0100)">146m Lürssen superyacht Opera on sea trials</a></li><li><a data-gid="gid://syiq/Article/56524" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indonesia’s flagship: The 120m J7 Explorer delivered (2022-12-07 13:45:00 +0100)">Indonesia’s flagship: The 120m J7 Explorer delivered</a> &nbsp;</li><li><a data-gid="gid://syiq/Article/56144" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="In pictures: 118m flagship Feadship 1010 superyacht on sea trials (2022-10-12 16:00:00 +0200)">118m flagship Feadship 1010 superyacht on sea trials</a> &nbsp;</li><li><a data-gid="gid://syiq/Article/56639" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="In pictures: 118m Abeking 6507 superyacht spotted in Germany (2022-12-22 16:30:00 +0100)">118m Abeking 6507 superyacht spotted in Germany</a>&nbsp;</li></ul><img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">Construction updates<img src="https://photo-assets.superyachttimes.com/photo/225719/image/large-1b9569480036fbc7befb8fdc8661133b.jpg" data-gid="gid://syiq/Photo/225719"><a data-gid="gid://syiq/Article/55072" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="In pictures: Stern of Oceanco’s 111m superyacht Project Y722 revealed (2022-05-03 13:30:00 +0200)">Stern of Oceanco’s 111m superyacht Project Y722 revealed</a>The stern of <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s Project Y722 superyacht has left the shed and this is the first time a section of this project, which is believed to measure 111m, has been seen.<ul><li><a data-gid="gid://syiq/Article/56474" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="107m Lürssen superyacht Project Icecap spotted in Germany (2022-11-30 15:30:00 +0100)">107m Lürssen superyacht Project Icecap spotted in Germany</a></li><li><a data-gid="gid://syiq/Article/55913" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Freire Shipyard lays keel of new 100m+ superyacht explorer (2022-09-13 13:15:00 +0200)">Freire Shipyard lays keel of new 100m+ superyacht explorer</a></li><li><a data-gid="gid://syiq/Article/56645" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="In pictures: Secretive 92m Feadship superyacht hull in transit (2022-12-23 17:30:00 +0100)">Secretive 92m Feadship superyacht hull in transit</a></li><li><a data-gid="gid://syiq/Article/54746" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Construction commences for ISA’s 80m superyacht project Amarcord (2022-03-10 16:45:00 +0100)">Construction commences for ISA’s 80m superyacht project Amarcord</a></li></ul><img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">Largest new orders<img src="https://photo-assets.superyachttimes.com/photo/225314/image/large-76b3ff1d3b79e304f98e23ae3b0977e9.png" data-gid="gid://syiq/Photo/225314"><a data-gid="gid://syiq/Article/55031" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts to build 100m+ superyacht for an American Tech-Billionaire (2022-04-26 15:45:00 +0200)">Dörries Yachts to build 100m+ superyacht for an American Tech-Billionaire</a><a data-gid="gid://syiq/Company/3779" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts (Company)">Dörries Yachts</a> has signed a contract for the construction of an all-new 100+ superyacht for an American Tech-Billionaire. The project is scheduled to be delivered in 2025. &nbsp;<ul><li><a data-gid="gid://syiq/Article/56650" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="85m New World Sloop: Royal Huisman to start construction of ‘world’s largest sloop’ in 2023 (2022-12-27 13:15:00 +0100)">85m New World Sloop: Royal Huisman to start build of ‘world’s largest sloop’ in 2023</a> &nbsp;</li><li><a data-gid="gid://syiq/Article/56080" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group confirms sale of an 85m and 70m CRN superyacht (2022-10-04 11:15:00 +0200)">Ferretti Group confirms sale of an 85m and 70m CRN superyacht</a></li><li><a data-gid="gid://syiq/Article/55956" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="New 83m Nobiskrug superyacht Project Orkan by Harrison Eidsgaard sold (2022-09-20 11:30:00 +0200)">New 83m Nobiskrug superyacht Project Orkan&nbsp;by Harrison Eidsgaard sold</a></li><li><a data-gid="gid://syiq/Article/55594" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts announces sale of 80m custom superyacht by Espen Øino (2022-07-19 11:00:00 +0200)">ISA Yachts announces sale of 80m custom superyacht by Espen Øino</a></li></ul><img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">Major used superyacht sales<img src="https://photo-assets.superyachttimes.com/photo/183766/image/large-9a80f4f7d81c52aeef4a3b270f275883.jpg" data-gid="gid://syiq/Photo/183766"><a data-gid="gid://syiq/Article/56592" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SYT iQ market report: Superyacht sales of 2022 (2022-12-16 13:00:00 +0100)">SYT iQ market report: Superyacht sales of 2022</a><a href="https://superyachttimes.ac-page.com/homepage" rel="noopener noreferrer" target="_blank" title="">SYT iQ</a> has taken a look back at the sales figures for the year – and rather than comparing them to pre-pandemic levels, we’ve done a year-on-year comparison to 2021 – and the figures are surprising.<img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">Russia and the war in Ukraine <img src="https://photo-assets.superyachttimes.com/photo/18330/image/large-7860a6c9acf99848cffc5a7d0d08e3ce.jpg" data-gid="gid://syiq/Photo/18330"><a data-gid="gid://syiq/Article/54694" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Update on Russian yachts seized: US imposes sanctions on 89m Russian-owned superyacht Nirvana (2022-12-21 14:15:00 +0100)">Update on Russian yachts seized: US imposes sanctions on 89m Russian-owned superyacht Nirvana</a>&nbsp;&nbsp;SYT kept track of the Russian-owned superyachts seized as they sat in waters of the countries that are posing sanctions on Russian companies and oligarchs. <ul><li><a data-gid="gid://syiq/Article/54723" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Insight: What are the legal implications of sanctions against Russian yacht owners? (2022-03-08 13:45:00 +0100)">Insight: What are the legal implications of sanctions against Russian yacht owners?</a></li><li><a data-gid="gid://syiq/Article/55304" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Imperial Yachts issues statement over US Sanctions (2022-06-07 14:30:00 +0200)">Imperial Yachts issues statement over US Sanctions</a></li><li><a data-gid="gid://syiq/Article/55459" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Update: Seized Russian superyacht Axioma sold at auction for $37.5m (2022-09-28 08:00:00 +0200)">Update: Seized Russian superyacht Axioma sold at auction for $37.5m</a></li><li><a data-gid="gid://syiq/Article/55437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Seized Russian-owned 106m superyacht Amadea arrives in San Diego (2022-06-28 16:45:00 +0200)">Seized Russian-owned 106m superyacht Amadea arrives in San Diego</a></li><li><a data-gid="gid://syiq/Article/56487" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="93m seized Feadship superyacht Royal Romance to be auctioned (2022-12-01 18:00:00 +0100)">93m seized Feadship superyacht Royal Romance to be auctioned</a></li><li><a data-gid="gid://syiq/Article/56491" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="U.S takes steps to seize 99m Russian-owned superyacht Madame Gu (2022-12-02 11:30:00 +0100)">U.S. takes steps to seize 99m Russian-owned superyacht Madame Gu</a>&nbsp;</li><li><a data-gid="gid://syiq/Article/54666" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Crew member attempts to sink €6.5m superyacht Lady Anastasia (2022-02-28 16:15:00 +0100)">Crew member attempts to sink €6.5m superyacht Lady Anastasia</a>&nbsp;</li></ul><img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">Casualties<img src="https://photo-assets.superyachttimes.com/photo/215491/image/large-a02880399c7742c5dd66758b25fec593.jpeg" data-gid="gid://syiq/Photo/215491"><a data-gid="gid://syiq/Article/55771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Full round-up of yacht fires and casualties of 2022 (2022-09-05 10:45:00 +0200)">Full round-up of yacht fires and casualties of 2022</a>There has been a tragic number of yacht casualties so far this year; eight motor yachts caught fire, three sank, two were attacked, and a 50m sailing yacht was hit by a rescue vessel. SuperYacht Times has rounded up all the casualties (and near casualties) of 2022.<img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">SuperYacht Times presents the best of 2022<iframe width="640" height="360" src="https://www.youtube.com/embed/fxyb7luvbR0?&amp;wmode=opaque" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe> <a data-gid="gid://syiq/Article/56628" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Video: SuperYacht Times best of 2022 (2022-12-21 14:00:00 +0100)">Video: SuperYacht Times best of 2022</a>The SuperYacht Times photographers have had a fantastic year chasing superyachts all over the world! Here is &nbsp;their 2022 highlights! We hope you enjoy the video and make sure to subscribe to our channel for all your superyacht content! These videos have been taken by Photographer Ruben Griffioen and Léandre Loyseau of the <a href="https://superyachttimes.ac-page.com/homepage" rel="noopener noreferrer" target="_blank" title="">SYT iQ</a> team.

 SuperYacht Times Synopsis: 2022

The SuperYacht Times Synopsis looks back over the year for a rundown of the top business stories from 2022.  

SYT Synopsis 2022: Major acquisitions, five 100m+ superyachts delivered, and around €6b worth of sales

With 2022 nearly a wrap, <a href="https://superyachttimes.ac-page.com/homepage" rel="noopener noreferrer" target="_blank" title="">SYT iQ</a> has taken a look back at the sales figures for the year – and rather than comparing them to pre-pandemic levels, we’ve done a year-on-year comparison to 2021 – and the figures are surprising. <img src="https://photo-assets.superyachttimes.com/photo/241340/image/large-9d572f9bc938600c848018ec5b0dd2ce.jpg" data-gid="gid://syiq/Photo/241340">Straight off the bat, it needs to be noted that there were nearly 200 fewer transactions closed this year than there were during the pandemic-induced boom in 2021. Last year brokers all around the world sold 456 used motor yachts and 37 used sailing yachts of 30 metres or more – it wasn’t just a record-breaking year, it saw close to 200 yachts added onto the annual average. Taking a preliminary look at 2022, sales have rebalanced to the pre-pandemic average of 2020, 2019 and 2018.<img src="https://photo-assets.superyachttimes.com/photo/251856/image/large-410e40346f783f7035d9d5ff70506a73.png" data-gid="gid://syiq/Photo/251856">Thus far in 2022, more than 300 used yachts of 30 metres and longer have been sold; interestingly, the average last known asking price of the yachts sold this year surpassed 2021 by more than €2 million. So even though fewer yachts have been sold this year, on average the price of these used yachts is more expensive than in 2021, which might point to a further tightening of the brokerage market. Last year the average last asking price was just over €11 million for yachts, which has jumped to €13.1m this year. Notably, there was a significant 10 percent decrease in the amount of days yachts spent on the market this year.<img src="https://photo-assets.superyachttimes.com/photo/252041/image/large-4f26eb68021633d583101adf5fa1c345.png" data-gid="gid://syiq/Photo/252041">In keeping with the used sales market trend, there was a substantial decrease in new orders this year compared to 2021. Last year a total of 312 new contracts over 30-metres were signed, 57 percent of which were between the 30 to 40 metre category and 5 percent in the 80 metre and above segment. This year, however, 202 new orders were signed; 51 percent were in the 30 to 40 metre category and 6 percent in the 80 metre and above.<img src="https://photo-assets.superyachttimes.com/photo/205414/image/large-41db81b83d07fd6570ab426267a5c782.jpg" data-gid="gid://syiq/Photo/205414">We also witnessed an unexpected sale this year, which was the result of the war in Ukraine and the subsequent blacklist placed on a collection of Russian oligarchs with direct links to the Kremlin. This sale was the 72-metre <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a>-built superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> which sold at auction in Gibraltar for $37,500,000 in September. A number of other superyachts have been arrested around the world, which could still potentially be put under the hammer.&nbsp;What differentiated <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> from the other arrested Russian-owned superyachts is that her owner unlawfully took out a loan with JPMorgan Chase &amp; Co as the sole shareholder of Pyrene Investments. As the yacht's owner was on the sanction list his assets were frozen and it was illegal for the bank to accept any repayments from him. With his superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> seized in Gibraltar, JPMorgan Chase &amp; Co. pursued an opportunity to see a return on their investment.<img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">2022’s largest superyacht sales<img src="https://photo-assets.superyachttimes.com/photo/180704/image/large-c94b3cec22cf92d183a5b4fe2eeae44b.jpg" data-gid="gid://syiq/Photo/180704">&nbsp;<a data-gid="gid://syiq/Yacht/5626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Odyssey123.2m (404'2&quot;)Lürssen Yachts2015">Golden Odyssey</a>&nbsp;| <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> | 123m | 7,690 GT | 2015 | Unknown&nbsp;<a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>’s 123.2-metre superyacht <a data-gid="gid://syiq/Yacht/5626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Odyssey123.2m (404'2&quot;)Lürssen Yachts2015">Golden Odyssey</a> was sold in Malta last October. The sale of <a data-gid="gid://syiq/Yacht/5626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Odyssey123.2m (404'2&quot;)Lürssen Yachts2015">Golden Odyssey</a> was forced by legislative action, following a number of missed loan repayments that resulted in her seizure. According to local reports, Justice Spiteri Bailey approved the private sale of the vessel for €150 million, but her last known asking price is unknown. This is the first time <a data-gid="gid://syiq/Yacht/5626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Odyssey123.2m (404'2&quot;)Lürssen Yachts2015">Golden Odyssey</a> has been sold since commissioned. <img src="https://photo-assets.superyachttimes.com/photo/222503/image/large-c9eb7eaa8cc9d69fd296f1e99a5af940.jpg" data-gid="gid://syiq/Photo/222503"><a data-gid="gid://syiq/Yacht/865" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Carinthia VII97.2m (318'11&quot;)Lürssen Yachts2002">Carinthia VII</a>&nbsp;| <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> | 97m |3,643 GT | 2002 | €95mThe 97.2-metre <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> superyacht <a data-gid="gid://syiq/Yacht/865" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Carinthia VII97.2m (318'11&quot;)Lürssen Yachts2002">Carinthia VII</a> sold in a deal with Ralph de Joode of <a data-gid="gid://syiq/Company/4530" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RYacht Management (Company)">RYacht Management</a> representing the buyer and Antoine Larricq and Stuart Larsen of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a> acting as the seller’s representative. <a data-gid="gid://syiq/Yacht/865" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Carinthia VII97.2m (318'11&quot;)Lürssen Yachts2002">Carinthia VII</a> was scheduled to be presented at the <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2022">2022 Monaco Yacht Show</a>; however, the buyer accepted the yacht just two days before the event. <a data-gid="gid://syiq/Yacht/865" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Carinthia VII97.2m (318'11&quot;)Lürssen Yachts2002">Carinthia VII</a> was commissioned by the Austrian philanthropist Heidi Horten and remained part of her estate for two decades. Her new owner has expressed interest in placing the <a data-gid="gid://syiq/Company/1" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tim Heywood Design Ltd. (Company)">Tim Heywood</a>-designed superyacht on the charter market.<img src="https://photo-assets.superyachttimes.com/photo/183766/image/large-9a80f4f7d81c52aeef4a3b270f275883.jpg" data-gid="gid://syiq/Photo/183766"> Palladium&nbsp;|&nbsp;<a data-gid="gid://syiq/Company/3" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blohm & Voss GmbH (Company)">Blohm &amp; Voss</a>&nbsp;| 95m | 4,447 GT | 2010 | Unknown<a data-gid="gid://syiq/Company/3" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blohm & Voss GmbH (Company)">Blohm &amp; Voss</a>’ 95.15 superyacht <a data-gid="gid://syiq/Yacht/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AV95.15m (312'2&quot;)Blohm & Voss GmbH2010">AV</a> (ex. Palladium) was sold in the midst of a glorious Mediterranean summer, after being listed on the market for less than a year. Until her sale, <a data-gid="gid://syiq/Yacht/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AV95.15m (312'2&quot;)Blohm & Voss GmbH2010">AV</a> had enjoyed life with a single owner. <a data-gid="gid://syiq/Company/322" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Merle Wood & Associates, Inc. (Company)">Merle Wood &amp; Associates</a> introduced the buyer, while Richard Higgins of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a> represented the seller. &nbsp; <img src="https://photo-assets.superyachttimes.com/photo/239160/image/large-e334894fa9cc7da8636e361077147281.jpg" data-gid="gid://syiq/Photo/239160"><a data-gid="gid://syiq/Yacht/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tatoosh92.42m (303'3&quot;)Nobiskrug2000">Tatoosh</a>&nbsp;|&nbsp;<a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a>&nbsp;| 92m | 3,229 GT | 2000 | €90mThe 92.42-metre <a data-gid="gid://syiq/Company/5" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nobiskrug (Company)">Nobiskrug</a> superyacht <a data-gid="gid://syiq/Yacht/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tatoosh92.42m (303'3&quot;)Nobiskrug2000">Tatoosh</a> was sold in November after being on the market for nearly two years. Dominic Millman of <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> introduced the buyer, while Matt Emerson of <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> and Stuart Larsen of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a> co-represented the seller. <a data-gid="gid://syiq/Yacht/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tatoosh92.42m (303'3&quot;)Nobiskrug2000">Tatoosh</a> has passed hands twice, and Stuart Larsen was involved in both negotiations. This sale marked the departure from the Paul Allen estate, which <a data-gid="gid://syiq/Yacht/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tatoosh92.42m (303'3&quot;)Nobiskrug2000">Tatoosh</a> was part of for the past two decades. <img src="https://photo-assets.superyachttimes.com/photo/222502/image/large-cbd36bd892fbf7e0b0b4957d03cac402.jpg" data-gid="gid://syiq/Photo/222502"><a data-gid="gid://syiq/Yacht/4794" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cloud 988.5m (290'4&quot;)Oceanco2015">Cloud 9</a>&nbsp;|&nbsp;<a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>&nbsp;| 89m | 2,914 GT | 2015 | Unknown&nbsp;The largest Dutch superyacht sold in 2022 was <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s 88.5-metre Cloud 9 (ex. Infinity), which was signed for in May. <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> introduced the buyer and co-represented the seller with <a data-gid="gid://syiq/Company/259" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Y.CO (Company)">Y.CO</a> during this off-market deal. This was the first time <a data-gid="gid://syiq/Yacht/4794" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cloud 988.5m (290'4&quot;)Oceanco2015">Cloud 9</a> has changed ownership since her delivery.<img src="https://photo-assets.superyachttimes.com/photo/212643/image/large-ba2f96ab9f3c28bcf8c37fcf05a94801.jpg" data-gid="gid://syiq/Photo/212643">2022’s largest sailing yacht sales <img src="https://photo-assets.superyachttimes.com/photo/219452/image/large-9947d6ce0139a2f3b39df63eda85e516.jpg" data-gid="gid://syiq/Photo/219452"><a data-gid="gid://syiq/Yacht/385" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maltese Falcon88.0m (288'9&quot;)Perini Navi2006">Maltese Falcon</a>&nbsp;|&nbsp;<a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>&nbsp;| 88m | 1,110 GT | 2006 | Unknown&nbsp;<a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>’s flagship superyacht <a data-gid="gid://syiq/Yacht/385" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maltese Falcon88.0m (288'9&quot;)Perini Navi2006">Maltese Falcon</a> was sold off-market during the first quarter of the year, and neither her selling nor buying broker are known. This is the third time <a data-gid="gid://syiq/Yacht/385" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maltese Falcon88.0m (288'9&quot;)Perini Navi2006">Maltese Falcon</a> has entered new ownership. The superyacht is currently drydocked at the <a data-gid="gid://syiq/Company/895" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lusben Shipyard (Company)">Lusben Shipyard</a> in Italy, undertaking an extensive refit that will be completed in April 2023, ready for a charter with <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> in time for the Mediterranean season.<img src="https://photo-assets.superyachttimes.com/photo/234022/image/large-d9bddc9f6b48c1342237678534a4696d.png" data-gid="gid://syiq/Photo/234022"><a data-gid="gid://syiq/Yacht/796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Twizzle57.5m (188'8&quot;)Royal Huisman Shipyard BV2010">Twizzle</a>&nbsp;|&nbsp;<a data-gid="gid://syiq/Company/122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Huisman Shipyard BV (Company)">Royal Huisman</a>&nbsp;| 58m | 496 GT | 2010 | €39.9mThe 57.5-metre <a data-gid="gid://syiq/Company/122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Huisman Shipyard BV (Company)">Royal Huisman</a> sailing yacht <a data-gid="gid://syiq/Yacht/796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Twizzle57.5m (188'8&quot;)Royal Huisman Shipyard BV2010">Twizzle</a> sold in an in-house deal with <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> in November. Bruce Brakenhoff represented both the buyer and seller throughout the negotiations. At the time of her launch, the 57.5-metre superyacht <a data-gid="gid://syiq/Yacht/796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Twizzle57.5m (188'8&quot;)Royal Huisman Shipyard BV2010">Twizzle</a> was <a data-gid="gid://syiq/Company/122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Huisman Shipyard BV (Company)">Royal Huisman</a>’s third largest delivery. <img src="https://photo-assets.superyachttimes.com/photo/99247/image/large-e75dd2d3d0c024a8a77356852919ea72.jpg" data-gid="gid://syiq/Photo/99247"><a data-gid="gid://syiq/Yacht/4242" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Salvaje56.4m (185'0&quot;)Alloy Yachts2014">Salvaje</a>&nbsp;|&nbsp;<a data-gid="gid://syiq/Company/60" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alloy Yachts (Company)">Alloy Yachts</a>&nbsp;| 56.4m | 498 GT | 2014 | €35m&nbsp;Alloy Yachts’ 56.4-metre sailing yacht <a data-gid="gid://syiq/Yacht/4242" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Salvaje56.4m (185'0&quot;)Alloy Yachts2014">Salvaje</a> (ex. Mondango 3) was sold with <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> representing both the buyer and seller in July. Henry Craven-Smith and Jamie Small of <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> oversaw the negotiations. Salvaje quickly rejoined the market and is listed with <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a>.&nbsp;

2022 Superyacht sales report

SuperYacht Times takes a look back at the sales figures for 2022, comparing the figures with that of 2021. 

SYT iQ market report: Superyacht sales of 2022

SuperYacht Times Synopsis: September

The SuperYacht Times Synopsis, as brought to you by SYT iQ, gives you the rundown of the top business stories and market reports from last month.

SYT Synopsis September: Expansion into the Gulf, 23,000 GT of superyachts, including Carinthia VII, sold and more

The 72-metre <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a>-built superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> sold at auction in Gibraltar for $37,500,000.&nbsp;In total there were 63 bids placed for the seized Russian-owned superyacht, and the leading bidders were subject to KYC (Know Your Customer) checks, which took just under a month to complete. <img src="https://photo-assets.superyachttimes.com/photo/121702/image/large-9b1132c8434f802b9e500ba729af0745.jpg" data-gid="gid://syiq/Photo/121702">According to an official report by the Office of the Admiralty Marshal, first published by the British news outlet The Guardian;“The Admiralty Marshal has today sold the MY <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> following payment into court of $37.5m by the successful bidder,” the court said in a statement on Tuesday. “The bid was selected after completion of an enhanced due diligence process, but the Admiralty Marshal will not be disclosing the identity of the buyer.”<a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> was delivered in 2013 and features an exterior design by Sterling / Scott and interior by Alberto Pinto. She is the second largest yacht built by the Turkish shipyard, offering 1,620 GT of interior volume and accommodation for 12 guests and 20 crew.<img src="https://photo-assets.superyachttimes.com/photo/64466/image/large-b232b549fba084189c1e377a9fbadd7b.jpg" data-gid="gid://syiq/Photo/64466"><img src="https://photo-assets.superyachttimes.com/photo/64463/image/large-da1843304683efce7f66b9b236c75b07.jpg" data-gid="gid://syiq/Photo/64463">Her condition is unknown and she was sold during an “as is, where is” auction handled by Howe Robinson for JPMorgan Chase. Nigel Hollyer, Partner at Howe Robinson Partners, explained previously that “any surplus after JP Morgan’s mortgage has been paid off and the cost of arrest will go into an account at the Supreme Court of Gibraltar, and frozen until the sanctions are sorted.”(Update 23-08-22 13:42) Bidding has closed for the 72m superyacht&nbsp;<a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a><img src="https://photo-assets.superyachttimes.com/photo/121700/image/large-3c08446e9d3f6d4e8b1dd9871aa86a8d.jpg" data-gid="gid://syiq/Photo/121700">After much controversy, the 72-metre superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> went under the hammer in Gibraltar this morning. Bidding closed at 12:00 CET and after a quick call with Nigel Hollyer, Partner at Howe Robinson Partners, it’s clear there was great enthusiasm and interest about her sale, as “the bids were mounting up”. &nbsp;Hollyer confirmed that a decision will not be made today – and perhaps not until next week – about who the successful bidder is. “We may well find the right buyer amongst the paperwork but we have to sort out due diligence documents and KYC (Know Your Customer) documents first, so I don’t think there’ll be any positive results until the end of this week. Maybe not even till the beginning of next week.” &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/121704/image/large-f21b3076df9c1a3233bb58117df16d46.jpg" data-gid="gid://syiq/Photo/121704">A contentious issue was whether Americans would be barred from the auction house, as not only is the owner of <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> on the U.S. sanction list, but so also is the yacht herself. However, “recently the Office of Foreign Assets Control (OFAC) granted a license to JP Morgan that facilitated the Americans being able to bid and pay with U.S. dollars,” if they so wished, as Hollyer explained. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/64466/image/large-b232b549fba084189c1e377a9fbadd7b.jpg" data-gid="gid://syiq/Photo/64466">“Any surplus after JP Morgan’s mortgage has been paid off and the cost of arrest will go into an account at the Supreme Court of Gibraltar, and frozen until the sanctions are sorted. It’s not going to Ukraine because the law doesn’t allow it. It is going to be put into an account and frozen.” &nbsp;(Update 29-07-22 15:45) 72m superyacht&nbsp;<a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a>&nbsp;will be first seized Russian-owned yacht put up for auction)<img src="https://photo-assets.superyachttimes.com/photo/208351/image/large-d69d39e91f126652ca30efd2d06f60c6.jpg" data-gid="gid://syiq/Photo/208351">It has been reported that the 72-metre superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> will be the first seized Russian superyacht to go to auction to repay the debts of her owner. The auction is set to take place on 23 August 2022, with there being no set reserve price.The Supreme Court in Gibraltar has ordered that the Admiralty Marshall should proceed with the judicial auction despite the lack of communication from other regulatory bodies. <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> will be sold by the Admiralty Court in Gibraltar under an ‘as is, where is’ private auction. Allegedly the Admiralty Marshall’s standing broker is the privately owned London-based company, Howe Robinson.The auction will take place over just one day and a website with more details and an online bidding platform is expected soon.<img src="https://photo-assets.superyachttimes.com/photo/215120/image/large-a05c8ab3776ef2849a099650b26dac51.jpg" data-gid="gid://syiq/Photo/215120">(01-07-22 16:00) &nbsp;Sale of seized Russian-owned superyacht Axioma mandated)It has been widely reported that the sale of the seized 72-metre superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> has been mandated by the Supreme Court in Gibraltar. The superyacht is allegedly owned by Dmitry Pumpyansky, a Russian billionaire on the sanction list, and a shareholder of the Pyrene Investments. It is Pumpyansky's involvement with Pyrene Investments that has resulted in this mandate. <img src="https://photo-assets.superyachttimes.com/photo/205414/image/large-41db81b83d07fd6570ab426267a5c782.jpg" data-gid="gid://syiq/Photo/205414">Pyrene Investments took out a $22 million loan with JPMorgan Chase &amp; Co., a major American financier and investment banker, however, Pumpyansky’s involvement with Pyrene Investments breaches the loan agreement. Pyrene Investments is owned by Furdberg Holding of Cyprus and, at the time of the loan agreement, Pumpyansky was the sole shareholder. As Pumpyansky was on the sanction list his assets were frozen and it was illegal for the bank to accept any repayments from him. With his superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> seized in Gibraltar, JPMorgan Chase &amp; Co. pursued an opportunity to see a return on their investment.<img src="https://photo-assets.superyachttimes.com/photo/232939/image/large-5daa02b84b110cba3f5b83282d42fa08.jpeg" data-gid="gid://syiq/Photo/232939">"JPMorgan is acting pursuant to its mortgage rights," a spokesperson for the Gibraltar government reported to Business Insider. "Her Majesty's Government of Gibraltar is exercising rights to enforce freezing sanctions also." Business Insider also wrote that on the day of seizure, Gibraltar’s government stated that the superyacht was “confirmed to be the subject of arrest action by a leading international bank in the Supreme Court of Gibraltar.” <img src="https://photo-assets.superyachttimes.com/photo/48525/image/large-646f670a91fe18a139b09d64b3607be8.jpg" data-gid="gid://syiq/Photo/48525"><a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> is a relatively new superyacht, as she was launched only nine years ago. She was built in Istanbul, Turkey by <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya Yachts</a> and is the shipbuilder’s flagship superyacht. <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> was custom-built and is believed to have had only one owner. Her exterior design was commissioned by <a data-gid="gid://syiq/Company/1340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sterling / Scott (Company)">Sterling / Scott</a> and her interior by <a data-gid="gid://syiq/Company/19" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alberto Pinto (Company)">Alberto Pinto</a>. <img src="https://photo-assets.superyachttimes.com/photo/121706/image/large-c2acb8f9d84d72b04c3c986fc02192c0.jpg" data-gid="gid://syiq/Photo/121706">With 1,620 GT and six staterooms, <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> can accommodate as many as 12 guests. The superyacht also carries 20 crew members. <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> is brimming with amenities, including a large pool on her aft deck and a screening room on the lower deck. <img src="https://photo-assets.superyachttimes.com/photo/121701/image/large-5ad829ebdde6aa3c3b17e7164f51ff81.jpg" data-gid="gid://syiq/Photo/121701">Read:&nbsp;<a data-gid="gid://syiq/Article/55437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Seized Russian-owned 106m superyacht Amadea arrives in San Diego (2022-06-28 16:45:00 +0200)">Seized Russian-owned 106m superyacht Amadea arrives in San Diego</a>As it stands <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> is not the only seized Russian–owned superyacht that could be soon under the hammer. The 106.1-metre <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>-built superyacht <a data-gid="gid://syiq/Yacht/6167" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amadea 106.1m (348'1&quot;)Lürssen Yachts2017">Amadea</a> arrived in San Diego earlier this week, flying a U.S. flag.&nbsp;

superyacht Axioma auction

The 72m superyacht Axioma sold at auction in Gibraltar for $37m.

Update: Seized Russian superyacht Axioma sold at auction for $37.5m

Yacht building in Instanbul 

SYT visited a number of shipyards in Istanbul and the scene is thriving. 

Istanbul: Amidst the seven hills is an electric scene of superyacht builders

SuperYacht Times Synopsis July

SYT Synopsis: Top yacht news from  July

Superyachts in St Barths this New Year

Some of the biggest and most beautiful superyachts have gathered in St Barths, see them here.

Superyachts in St Barths for New Year celebrations

<img src="https://photo-assets.superyachttimes.com/photo/212614/image/large-bc5720d259978dd7d3aa0a70395faf09.jpeg" data-gid="gid://syiq/Photo/212614">Spotted leaving the principality, after the <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2021">Monaco Yacht Show 2021</a>, is the 37-metre superyacht <a data-gid="gid://syiq/Yacht/1374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Secret Love36.5m (119'9&quot;)Amels1990">Secret Love</a>. Delivered in 1990 by the Dutch shipyard <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a>, <a data-gid="gid://syiq/Yacht/1374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Secret Love36.5m (119'9&quot;)Amels1990">Secret Love</a> was recently refitted at the Turkish shipyard <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a>. The classic-style cruiser received upgrades to her engineering systems, including replacement of the generators, the A/C system, waste treatment plant, new hot water boilers and modifications to the stabilisers to allow better access. The engine room has also been repainted and all pumps, main engines as well as electric systems have been serviced and updated. Previously named Amour Secret, the 303 GT superyacht features naval architecture and exterior design by <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a>’ in-house team, which took inspiration from the 57-metre superyacht <a data-gid="gid://syiq/Yacht/850" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cleopatra57.0m (187'0&quot;)Amels1985">Cleopatra</a> (ex: My Gail III). <a data-gid="gid://syiq/Yacht/1374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Secret Love36.5m (119'9&quot;)Amels1990">Secret Love</a> is currently listed for sale with an asking price of €4,950,000. Read more about her refit <a data-gid="gid://syiq/Article/51351" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts completes refit of 36m Secret Love (2020-06-02 09:00:00 +0200)">here</a>.

Amels superyacht Secret Love braving the waves off Monaco

The 37m superyacht Secret Love, built by Amels, was spotted here leaving Monaco.

As the second day of the <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2021">Monaco Yacht Show</a> continues in full swing, further details of the 48-metre support vessel to the 72.5-metre <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2021">Dunya Yachts</a> superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> have been revealed. Named My Bro, the vessel is currently in build at the Istanbul-based shipyard and is expected to be delivered in 2023.<img src="https://photo-assets.superyachttimes.com/photo/206939/image/large-3efc2e7ca481355f8faec199427978e3.jpg" data-gid="gid://syiq/Photo/206939">Support vessel My Bro was commissioned to provide additional accommodation for larger charter trips. A popular charter yacht since her launch in 2013, <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> comfortably sleeps 12 guests, but is often in demand with larger parties. <img src="https://photo-assets.superyachttimes.com/photo/206938/image/large-9e97b64ddd44bb67319ec472e06d679d.jpg" data-gid="gid://syiq/Photo/206938">An aluminium catamaran design with a generous maximum beam of 13-metres, My Bro features naval architecture and an exterior design by Canadian designer <a data-gid="gid://syiq/Company/62" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gregory C. Marshall Naval Architect Ltd. (Company)">Gregory C. Marshall</a>, as well as interiors penned by her builder. <img src="https://photo-assets.superyachttimes.com/photo/206941/image/large-ca78a39242f9a142aa0cf078c9e0ffe9.jpg" data-gid="gid://syiq/Photo/206941">On board, the 994 GT My Bro will provide accommodation for up to 10 guests across five cabins, as well as a crew of four, with a total deck space of 800 square-metres.<img src="https://photo-assets.superyachttimes.com/photo/206943/image/large-915ce93daa513b3d4b707f949e1e9b4f.jpg" data-gid="gid://syiq/Photo/206943">Notably too, My Bro has been designed to ensure that those on board can enjoy the same levels of comfort and amenities they would experience on board the mothership, with guests having access to a generous main saloon, gym, spa, Jacuzzi and swim platform. A non-stop water sports regime is also offered for more adventurous guests.<img src="https://photo-assets.superyachttimes.com/photo/206942/image/large-8f156a44fc4fc91e204be12c79500d06.jpg" data-gid="gid://syiq/Photo/206942">Alongside her impressive range of toys and tenders, My Bro will also be home to a mini-submarine, and a multipurpose touch-and-go helipad that can be transformed into an outdoor disco, open-air cinema, basketball court, tennis court, yoga space or entertainment area. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/206946/image/large-0562d25ca1aa96389719d24a2f276622.jpg" data-gid="gid://syiq/Photo/206946">A true multi-role vessel, support vessel My Bro will be offered for solo adventure-based charters, or as a dedicated fleet support vessel to her mothership. <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.0m (236'3&quot;)Dunya Yachts2013">Axioma</a> herself will continue to be offered for charter alone, or in tandem with her new support vessel.<img src="https://photo-assets.superyachttimes.com/photo/206947/image/large-cc0d2e3b29b378ce3422c49e3c78bf52.jpg" data-gid="gid://syiq/Photo/206947">Performance-wise, My Bro will be able to reach a top speed of 18 knots thanks to her twin 1193KW engines. She cruises comfortably at 16 knots and has a range of 5,000 nautical miles at 10 knots.&nbsp;

Details revealed of 73m Axioma’s in-build support vessel Bro

With delivery slated for 2023, SYT takes a look at the 48m in-build support vessel My Bro which will accompany 73m Axioma on her global travels.

A closer look at 73m Axioma’s 48m in-build support vessel My Bro

<img src="https://photo-assets.superyachttimes.com/photo/205414/image/large-a9a674a3dd083f4404a6b5ca2cfb28aa.jpg" data-gid="gid://syiq/Photo/205414">Spotted last Friday anchored off Antibes is the 73-metre superyacht <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.5m (237'10&quot;)Dunya Yachts2013">Axioma</a>. Launched in 2013 by the <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a> shipyard in Istanbul, <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.5m (237'10&quot;)Dunya Yachts2013">Axioma</a> received a new paint job at <a data-gid="gid://syiq/Company/211" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Astilleros de Mallorca S.A. (Company)">Astilleros de Mallorca</a> in 2019. Previously known as Red Square, she features an exterior design by the Monaco-based <a data-gid="gid://syiq/Company/1340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sterling / Scott (Company)">Sterling / Scott</a> as the studio’s first new-build project, with <a data-gid="gid://syiq/Company/19" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alberto Pinto (Company)">Alberto Pinto</a> responsible for her interiors. On board, <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.5m (237'10&quot;)Dunya Yachts2013">Axioma</a> offers sumptuous living on every deck, with a central elevator connecting all four decks, guests can reach amenities such as a large aft swimming pool, a Jacuzzi with swim-up bar, a spa, an open-air gym and a 3D cinema. The superyacht can reach a top speed of 18 knots and her 4,200 nautical mile range means that nearly any destination is within reach for her 12 guests.

Superyacht Axioma in Antibes

The 73m Dunya superyacht Axioma is seen here anchored in Antibes.

Turkish shipyard <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya Yachts</a> has secured a major contract to finish the construction of the 54.08-metre yacht Ulucitcan for her original Russian owner. The all-steel explorer is due to be completed in 2023 and includes an interior by <a data-gid="gid://syiq/Company/69" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Winch Design (Company)">Winch Design</a>. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/185455/image/large-40defe70513f7dba748f1e9940e0eb60.jpg" data-gid="gid://syiq/Photo/185455">“This is an exciting contract for the shipyard,” says Jeremy Roche, &nbsp;<a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a>’s Sales &amp; Marketing Director. “At more than 1,200 GT she will be one of the largest explorer yachts on the water. We are delighted that the owner has entrusted us to &nbsp;complete his vessel.” &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/185453/image/large-aa7a8c7d158bc1aa7aee8da75ff5e5ad.jpg" data-gid="gid://syiq/Photo/185453">Ulucitcan was started 10 years ago as project Chuggaboom, a global explorer with a range of 6,000nm, at Newcastle Marine in Florida. At &nbsp;the time, Bart Bouwhuis from <a data-gid="gid://syiq/Company/15" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vripack (Company)">Vripack</a> described her as “outrageously &nbsp;spacious and designed for a very experienced yachting family with &nbsp;the typical no-nonsense attitude we love.” &nbsp;&nbsp;However, construction ground to a halt when the US yard ran into financial difficulties and the hull was subsequently transported to Europe, arriving in Genoa in late 2017. Unable to find a suitable yard to finish the build, she was then towed to Hammamet in Tunisia. It was here that the <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a> team first inspected the yacht in August 2019. Roche recalls that the only way to access the five-deck yacht was by rope ladder from a tender and they had to work inside the boarded-up boat by torchlight in temperatures of 40°C. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/185454/image/large-82faf3d475d807e5d48c83dea054ed7e.jpg" data-gid="gid://syiq/Photo/185454">“From the outside, she looked in a bit of a mess, but we quickly realised this was superficial,” he says. “Inside, it was obvious that she had been built to a good standard, with premium brands used for all of &nbsp;the main equipment, much of which had been well preserved.” &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/103634/image/large-ccb5b331dd34a43f9f90cf58799b0239.jpg" data-gid="gid://syiq/Photo/103634"><a href="https://www.superyachttimes.com/yacht-news/superyacht-chuggaboom-underway-at-new-castle-marine" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times went aboard the classically-styled explorer</a> during a visit to <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya Yachts</a> in early 2020. With a beam of 11.5 metres and spread over five deck levels, the interior volumes are enormous for a 55-metre vessel. The yacht had arrived at the shipyard with her CAT 3516C engines already fitted and part of the beach-club themed interior by Andrew Winch installed. Several containers full of more equipment followed and Roche estimates that she is about one-third complete. The finished yacht will have seven guest cabins, a storeroom and workshop for the owner’s collection of motorbikes, and the open foredeck will house an array of tenders and toys. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/18820/image/large-2f4fdc3b4699819d5e02b15a721cce0e.jpg" data-gid="gid://syiq/Photo/18820">“While in Italy, various yards supplied tenders but all were suggesting removal of partially completed items to start again from scratch,” he says. “Dunya was happy to be more flexible and to work with the owner’s team to find a more sensible solution to complete this yacht. The Covid situation added a further delay but the timing was not the owner’s main driver, he was more interested in selecting the right partner.“

Dunya Yachts to complete 55m explorer yacht Ulucitcan  

Dunya Yachts has secured a major contract to finish the construction of the 54.08m yacht Ulucitcan for her original Russian owner by 2023.

Turkish shipyard <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a> has relaunched 36-metre&nbsp;<a data-gid="gid://syiq/Yacht/1374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Secret Love36.5m (119'9&quot;)Amels1990">Secret Love&nbsp;</a>following an extensive winter refit. The classic cruiser built by <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a> in 1990 had arrived at the yard in Istanbul last October and despite the challenges caused by the coronavirus pandemic, <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a> was able to complete the refit virtually on schedule.<img src="https://photo-assets.superyachttimes.com/photo/120706/image/large-f8a4a4b219d9d9eedcf8807c2fb3de70.jpg" data-gid="gid://syiq/Photo/120706">“Under very difficult conditions, the yard has managed to complete the works and launch the yacht with only a minimum of delay,” says Stephen Warren, Director at Sovren Yacht management representing the owner’s team. “In addition, all works have been completed to incredibly high standard, particularly the paint work. The chief officer has described it as the best he has ever seen.”<img src="https://photo-assets.superyachttimes.com/photo/120694/image/large-a726903fa3e7f49020ce0cc5ac8f008c.jpg" data-gid="gid://syiq/Photo/120694"><img src="https://photo-assets.superyachttimes.com/photo/120700/image/large-2ffef86a924c33d1915e1613a1f15f91.jpg" data-gid="gid://syiq/Photo/120700">In fact, refreshing the paintwork was at the top of the to-do list. The owner has other vessels but<a data-gid="gid://syiq/Yacht/1374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Secret Love36.5m (119'9&quot;)Amels1990">&nbsp;Secret Love</a> is a family favourite and as he was planning to spend more time aboard in the coming year, it was decided to take advantage of the time spent laid up for the new paint job to carry out a more thorough refit. Overhauls and upgrades have been made to the engineering systems, including replacing the generators, the A/C system, waste treatment plant, new hot water boilers and modifications to the stabilisers to allow better access.<img src="https://photo-assets.superyachttimes.com/photo/120702/image/large-5e456480f07487e04406f30a4667cedd.jpg" data-gid="gid://syiq/Photo/120702"><img src="https://photo-assets.superyachttimes.com/photo/120703/image/large-8de526e806bcd901296ade84e9ff5a06.jpg" data-gid="gid://syiq/Photo/120703">The engine room has also been repainted and all pumps, main engines as well as electric systems (including a new shore power converter) have been serviced and updated. The main bridge electronics have been swapped out for new and the entire lighting system replaced with LEDs. The teak decks have been replaced and exterior guest areas also upgraded. The yard will now complete a series of tests prior to redelivery scheduled for mid-June.<img src="https://photo-assets.superyachttimes.com/photo/120705/image/large-0d11ae9226d808651e13d06a4fc42620.jpg" data-gid="gid://syiq/Photo/120705">Turkey’s lockdown was less stringent than in most European countries, but interruptions to the supply chain have created delays and shipyards have introduced new protocols to safeguard the health of their workers.<img src="https://photo-assets.superyachttimes.com/photo/120708/image/large-950c53f44aaecfe39afcbd8a71429106.jpg" data-gid="gid://syiq/Photo/120708">“The shipyard has adopted changes to work patterns to comply with guidance relating to the current crisis,” says Jeremy Roche, <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya’s</a> Sales &amp; Marketing Director.&nbsp;“There have been challenges, but we have remained open throughout and are delighted with the results.“

36m Amels yacht Secret Love completes refit 

The 36-metre Amels motor yacht Secret Love has been relaunched following an extensive winter refit. See her out in the open on SYT.

Dunya Yachts completes refit of 36m Secret Love

<img src="/uploads/store/photo/110550/image/large-2c71daaa0b67f47777f99aa5bb220cad.jpg" data-gid="gid://syiq/Photo/110550">The 72.5-metre <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.5m (237'10&quot;)Dunya Yachts2013">Axioma</a> was seen recently in the Caribbean showing off her new paint job, which she received last year at <a data-gid="gid://syiq/Company/211" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Astilleros de Mallorca S.A. (Company)">Astilleros de Mallorca</a>. With an exterior design by the Monaco-based <a data-gid="gid://syiq/Company/1340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sterling / Scott (Company)">Sterling / Scott</a> as the studio’s first new-build project and interiors by <a data-gid="gid://syiq/Company/19" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alberto Pinto (Company)">Alberto Pinto</a>, <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.5m (237'10&quot;)Dunya Yachts2013">Axioma</a> (once known as Red Square) was delivered by <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a> to her original owner in 2013. On board, she accommodates up to 12 guests in six staterooms including a master with a blue marble en-suite bathroom and a spa bath, a VIP suite located on the main deck and four double staterooms, two of which can be converted into twins. Guests can be taken care of by up to 22 crew members who can sleep in 12 cabins. With a central elevator connecting all four decks, guests can reach amenities such as a large aft swimming pool, a Jacuzzi with swim-up bar, a spa, an open-air gym and a 3D cinema for up to eight guests. Also with her wide selection of toys such as a waterslide, paddleboards, kayaks and jet skis, <a data-gid="gid://syiq/Yacht/2390" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Axioma72.5m (237'10&quot;)Dunya Yachts2013">Axioma</a> has become a popular charter yacht.

73m yacht Axioma at anchor in the Caribbean

The Dunya yacht Axioma, a popular charter yacht, was spotted recently off St. Barths.

73m superyacht Axioma anchored in St. Barths

In a shift which has remained under the radar of many in the industry, there is a country which is becoming an increasingly attractive location for superyacht refits for owners all around the world: Turkey. According to the SuperYacht Times intelligence system, <a href="https://www.superyachttimes.com/market-intelligence" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times iQ</a>, there has been a significant increase in the number of refits carried out in Turkey, with 17 refits taking place in 2017, 29 in 2018 and 32 during the course of 2019 so far. There are many possible contributing explanations for this change, including the increased popularity of the Turkish coastline as a travel destination, the improvement of marina facilities to meet international standards and the foreign currency exchange rate which is maintaining the low cost of refit works in the area. <img src="/uploads/store/photo/85316/image/large-e80e5332fdc684e9180dd128ec429b8f.jpg" data-gid="gid://syiq/Photo/85316">Ömer Koray, Yard Manager at the Antalya-based <a data-gid="gid://syiq/Company/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alia Yachts (Company)">Alia Yachts&nbsp;</a>has observed this shift, explaining that, ‘A number of award-winning major superyacht projects in the past ten years has considerably improved the interest in Turkish yacht building industry. Almost all of the major designers and big brokers have increased the frequency of their visits to Turkey in the last few years and I don’ t see a reason why that this trend will decline.” As far as Koray sees it, this is due to the excellent build quality and competitive prices which are now available for refit projects taking place in the country. Jeremy Roche, Sales &amp; Marketing Director from the Istanbul-based <a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya Yachts</a> has also noted this increase, commenting that “I started working for&nbsp;<a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">Dunya</a>&nbsp;in September 2018 and I would say the number of enquiries was consistent up until the early spring, since which time we definitely have seen an uptick.”<img src="/uploads/store/photo/84246/image/large-300cc03c5b2089b049313bcc84ad4afc.jpg" data-gid="gid://syiq/Photo/84246"><img src="/uploads/store/photo/84064/image/large-d6a2b457f1e6ea349332ab9ec09c45e9.jpg" data-gid="gid://syiq/Photo/84064">For <a data-gid="gid://syiq/Company/5160" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="West Istanbul Marina (Company)">West Istanbul Marina</a> too, enquiries into refit works have ‘dramatically increased’ over the past 24 months, according to a representative. Investing in equipment renovation, such as in a 700-ton travel lift - enabling the marina to work with superyachts up to 65 metres - has also played an important part, and <a data-gid="gid://syiq/Company/5160" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="West Istanbul Marina (Company)">West Istanbul Marina</a> is now able to carry out refit works for yachts up to 95 metres at its facilities. In addition, thanks to their close collaboration with Turkish yard <a data-gid="gid://syiq/Company/1414" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bilgin Yachts (Company)">Bilgin Yachts</a>, <a data-gid="gid://syiq/Company/5160" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="West Istanbul Marina (Company)">West Istanbul Marina</a> can now ‘deal with interior redesign of any complexity’. It is also worth noting that, as a location, Turkey also has its benefits due to it being a geographically conveniently located destination for winter yacht parking and annual maintenance with good sea access to popular yachting routes. <img src="/uploads/store/photo/92268/image/large-63d2f56c6fae22543254013bcc2ffc1e.jpg" data-gid="gid://syiq/Photo/92268">Furthermore, the existence of the Antalya Free Trade Zone also represents another advantage for refit works in the area, particularly due to their investment in a 2,000-tonne ship lift which will be completed in the next 16 months and used by shipyards such as <a data-gid="gid://syiq/Company/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alia Yachts (Company)">Alia Yachts</a> for both new builds and refit purposes. As Koray explains, there are more than 10 superyacht projects currently under construction in this area, the majority of which “carry the signatures of international designers and engineering companies”,&nbsp;and, it is logical to assume that if more boats are being built and delivered in Turkey, there will inevitably be an increased demand for these same yards to refit and maintain them in the future. Indeed, the ownership and origins of the yachts carrying out these refit works is also a factor worth taking into account.&nbsp;Following statistics from <a href="https://www.superyachttimes.com/market-intelligence" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times iQ</a>, of the 87 different yachts refitted in Turkey since 1st January 2016, 44, or just over 50% were Turkish owned. In addition, 41 yachts, or just under 50% of these yachts were Turkish-built. Both of these statistics indicate that Turkish-owned or built yachts had by far the largest share of refits in Turkey.<img src="/uploads/store/photo/84138/image/large-ff830a4bb69bf0a27547f0e21ed65390.jpg" data-gid="gid://syiq/Photo/84138">Although the Turkish yards are understandably optimistic about their future refit potential, some in the industry continue to express scepticism about the country’s status as an ideal refit location. Nick Hill, Partner at<a data-gid="gid://syiq/Company/2220" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hill Robinson (Company)">&nbsp;Hill Robinson Yacht Management&nbsp;</a>comments that, “We have had no increase in enquiries for refit works in Turkey on the superyachts we manage. The political status of Turkey still causes client concern and American and European owners remain nervous of Turkey.” Indeed, for Hill, the difference in exchange rates (which can result in the cost of the same service in Turkey and Europe differing by two, or even three times) is not enough to outweigh the potential practical issues, as he explains. “Good exchange rates tend to be compensated for by customs problems as most equipment is imported and paid in euros.”<img src="/uploads/store/photo/85317/image/large-3f467a8b93ee7881b20ce88459683227.jpg" data-gid="gid://syiq/Photo/85317">Notably, too, the portrayal of Turkey itself in the wider media also has a vital role to play in creating particular perspectives of stability or instability in the region for owners considering refit works. However, these perceptions are gradually becoming more positive within the yachting industry, with the positive aspects of Turkish shipbuilding increasingly being foregrounded. As Richard Masters, CEO of yacht management company <a data-gid="gid://syiq/Company/3039" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Master Yachts (Company)">Master Yachts&nbsp;</a>comments: “Turkey is an ideal destination for refit works: it is the most beautiful country, the people are honest and genuine, their history is incredible and they have many skilled craftsmen offering reasonable prices.”&nbsp;For Jeremy Roche, this is nothing new, as he explains: “The reality is that there is so much experience and knowledge of building and refitting yachts in Turkey which has accumulated over decades. Our facilities at<a data-gid="gid://syiq/Company/928" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dunya Yachts (Company)">&nbsp;Dunya&nbsp;</a>were modernised to the highest European standards in 2005 and others have since followed suit. There is infrastructure, as well as expertise in the area and experienced yacht owners are now becoming aware of this.”<img src="/uploads/store/photo/85314/image/large-1a682272893e67252eda999c7ed83118.jpg" data-gid="gid://syiq/Photo/85314">Finally, for Kerem Beşer, Director General of Istanbul-based <a data-gid="gid://syiq/Company/2580" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="KRM Yacht Refit & Repair Management (Company)">KRM Yacht Refit and Repair,</a> founded in 2010 and specialising in superyacht refit, the future for superyacht refit in Turkey looks bright. “The main reason why Turkey is getting more refit projects is because of the new generation of company owners. We have a completely different work ethic: we are not just trying to make money but are working all the time to increase the quality of service we provide. I believe that Turkey will become the best refit destination for cost and service quality for superyachts in the next couple of years.”&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<a href="https://shop.superyachttimes.com" rel="noopener noreferrer" target="_blank" title=""><img src="/uploads/store/photo/55401/image/large-6524e9c9dfc37e22bf131ecc39bea57e.png" data-gid="gid://syiq/Photo/55401"></a> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;This article is featured in the latest edition of the SuperYacht Times newspaper. <a href="http://www.superyachtcompany.com/newspaper/the-superyacht-times-subscription">Subscribe now&nbsp;</a>to receive your copy straight to your door and never miss another issue.

Investigating superyacht refit in Turkey 

Why are an increasing number of owners choosing Turkey for their superyacht refit works? We find out on SYT.