Italy

Picchiotti

Italian builder <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> has unveiled the first details of its 53-metre superyacht concept P53, developed by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>'s Research &amp; Development Department and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Centro Stile. The concept inaugurates the shipyard's P-Fleet series, offering a contemporary interpretation of the historic Picchiotti brand, while remaining below 500 GT.<img src="https://photo-assets.superyachttimes.com/photo/400402/image/large-629a01f1b1d53068e2ffcc21ae4e1e9d.jpg" data-gid="gid://syiq/Photo/400402">The P53 represents the latest evolution of the brand, signalling a departure from its more classically inspired Gentleman Fleet. The yacht embodies a more architectural design language that prioritises openness and flexibility, redefining contemporary living on the water with spaces that adapt to the modern explorer.<img src="https://photo-assets.superyachttimes.com/photo/400401/image/large-2d914901251569fc76058ca561fd1aeb.jpg" data-gid="gid://syiq/Photo/400401">With a 10-metre beam, the vessel will be built with an aluminium hull and superstructure. According to the shipyard, the P53 has been conceived to combine generous onboard volumes with efficient operation, creating a yacht that balances privacy, comfort and long-range cruising.<img src="https://photo-assets.superyachttimes.com/photo/400403/image/large-36bcc075c51630f0cecd5cfd074ecf08.jpg" data-gid="gid://syiq/Photo/400403">Outside, P53 is defined by a near-plumb bow, a sweeping glazed superstructure and expansive dark glazing that seamlessly connect the decks. Spacious aft decks, uninterrupted walkaround side decks and generous lounge areas reinforce the yacht's emphasis on outdoor living, while a resort-style beach club with fold-down platforms extends into a waterside terrace, highlighting a swimming pool.<img src="https://photo-assets.superyachttimes.com/photo/400405/image/large-4a99c6acfa5d31b71e87d9f9800ad71f.jpg" data-gid="gid://syiq/Photo/400405">The relationship between the yacht and the sea is central to the concept. The beach club, folding terraces, generous glazing and continuity between the interior and exterior are intended to create what the shipyard describes as "a concrete, physical and daily experience".<img src="https://photo-assets.superyachttimes.com/photo/400407/image/large-df6f37ceff582b3ba3416646a1eb6694.png" data-gid="gid://syiq/Photo/400407">Inside, P53 embraces a warm, minimalist aesthetic of natural wood finishes, textured fabrics and sculptural furnishings with floor-to-ceiling windows letting in abundant natural. An open-plan main saloon revolves around a floating staircase, while the owner's suite benefits from direct access to a private courtyard-style terrace. <img src="https://photo-assets.superyachttimes.com/photo/400406/image/large-daa53d1228baa068e244354e309f4f7c.png" data-gid="gid://syiq/Photo/400406">Designed for adaptability, the P53’s living spaces are able to meet the changing needs of the owner. <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> has seamlessly integrated areas for wellness, entertainment and relaxation, allowing the yacht to effortlessly flow between being a private retreat and a vibrant social space.<img src="https://photo-assets.superyachttimes.com/photo/400404/image/large-8354e2677bb64acf4a596db00ac68776.png" data-gid="gid://syiq/Photo/400404">Staying under the 500 GT threshold was a conscious design choice. This enables P53 to offer generous interior volumes without sacrificing efficiency or ease of handling, all while certifying guests feel truly connected to the sea.<img src="https://photo-assets.superyachttimes.com/photo/400400/image/large-f8ca43db82233000306fc926c7ac9212.jpg" data-gid="gid://syiq/Photo/400400">With an interior volume of 499 GT, accommodation onboard is arranged for up to 12 guests across six staterooms, alongside quarters for 10 crew members across five quarters.In terms of performance, the P53 is projected to propel at a top speed of 18 knots and a cruising speed of 14 knots. At a speed of 10 knots, she is expected to offer a range of 4,000 nautical miles.

Picchiotti unveils 53m Picchiotti P53 yacht concept

Picchiotti has unveiled 53m superyacht concept Picchiotti P53, developed by The Italian Sea Group and Picchiotti Centro Stile. 

TISG unveils 53m Picchiotti P53 yacht concept

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has been granted 60 days to submit its final restructuring plan after the Court of Florence formally opened proceedings under Article 44 of Italy's Crisis and Insolvency Code.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-23e9c0556425fdb09d6ac0efd3046cf3.jpg" data-gid="gid://syiq/Photo/306419">The court approved the company's application, filed on 1 July, and appointed three judicial commissioners to oversee the process. In its order, the court said <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> proposed restructuring appears to be structured with the objective of preserving the company as a going concern.The company said business activities will continue as normal under the protection of court-ordered measures that prevent creditor enforcement actions during the restructuring. The 60-day deadline may be extended by the court if necessary.<img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-fafd2b9bd13d4cf6c4cf377a2ccb8a27.png" data-gid="gid://syiq/Photo/299411">The filing marks a further step in <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG’s</a> restructuring process after the company said it could no longer pursue a turnaround solely within Italy’s negotiated settlement framework. Its board resolved on 30 June to seek protection under Article 44, with the application filed the following day.Read: <a data-gid="gid://syiq/Article/66451" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG reports over €178 million net financial debt in latest restructuring update (2026-07-01 09:15:00 +0200)">TISG reports over €178 million net financial debt in latest restructuring update</a>In a recent market update, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> disclosed consolidated net financial debt of approximately €178.7 million and €266.8 million in overdue liabilities as of 31 May 2026. The company also confirmed that accumulated losses had <a href="https://www.superyachttimes.com/yacht-news/tisg-enters-restructuring-phase-share-capital-below-legal-minimum" target="_blank">reduced its share capital below the legal minimum</a> required under Italian law.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">Read more:&nbsp;<a data-gid="gid://syiq/Article/65905" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group secures court protection amid company restructuring (2026-04-21 09:30:00 +0200)">The Italian Sea Group secures court protection amid company restructuring</a>Despite missed loan repayments, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> said its lending banks have not accelerated outstanding borrowings while restructuring negotiations continue. The company has also received a €25 million interest-free shareholder loan from controlling shareholder GC Holding to support liquidity during the process.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, which owns the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brands, said it will continue operating its new-build and refit businesses while it prepares the restructuring proposal.

TISG granted 60 days to file restructuring plan

The Italian Sea Group (TISG) has been granted 60 days to submit its final restructuring plan.

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has released an updated market disclosure outlining its financial position as of 31 May 2026, providing further insight into the Italian superyacht builder's ongoing restructuring process.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-23e9c0556425fdb09d6ac0efd3046cf3.jpg" data-gid="gid://syiq/Photo/306419">The filing, published at the request of Italian financial regulator Consob, follows <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> entry into Italy's Negotiated Crisis Settlement procedure in March after the company disclosed internal financial irregularities. It comes weeks after the builder confirmed that accumulated losses had reduced its share capital below the statutory minimum required under Italian law.Read more:&nbsp;<a data-gid="gid://syiq/Article/66150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG enters restructuring phase after share capital falls below legal minimum (2026-05-22 11:15:00 +0200)">TISG enters restructuring phase after share capital falls below legal minimum</a>As of 31 May 2026, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG Group</a> reported a consolidated net financial debt of around €178.7 million, including over €154.6 million in bank debt and cash and cash equivalents of approximately €7.5 million. The parent company, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG S.p.A</a>, reported a net financial debt of over €179.6 million.The disclosure also details €266.8 million in overdue liabilities across the group. This comprises over €42.6 million in overdue financial liabilities, over €77.6 million in trade payables, around €98 million owed to factoring companies, over €29.3 million in tax liabilities and over €18.1 million in social security liabilities.<img src="https://photo-assets.superyachttimes.com/photo/278854/image/large-10473eb6d3fdc1c0fbd3a7cdaa4e5d83.jpg" data-gid="gid://syiq/Photo/278854">According to <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, although the missed repayment of certain loan instalments entitles its lending banks to declare all outstanding borrowings immediately due, they have not exercised this right while negotiations continue under the court-supervised restructuring process.The company also revealed that it has received 30 payment orders from creditors since entering the restructuring procedure on 16 March, representing claims totalling approximately €2 million. Of these, 22 have been settled for an agreed amount of €408,000, while several others have either been challenged, are under negotiation or will be addressed as part of wider financial restructuring discussions.<img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-fafd2b9bd13d4cf6c4cf377a2ccb8a27.png" data-gid="gid://syiq/Photo/299411">The filing confirms that <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> remains protected by measures granted by the Court of Florence on 20 April, which remain in force until 14 July 2026. The company said these measures continue to stay enforcement actions by creditors covered by the court order while negotiations with lenders and other stakeholders progress.Read more:&nbsp;<a data-gid="gid://syiq/Article/65905" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group secures court protection amid company restructuring (2026-04-21 09:30:00 +0200)">The Italian Sea Group secures court protection amid company restructuring</a>The update also provides further details on the €25 million interest-free shareholder loan granted by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> controlling shareholder, GC Holding S.p.A. The company said the funding was introduced after cost overruns across the majority of its yacht construction contracts reduced operating margins and placed significant pressure on cash flow while production continued on vessels under construction.The shareholder loan is subordinated to the company's bank debt and is repayable by 31 December 2032.An Ordinary Shareholders' Meeting has been convened for 22 July 2026 to consider the company's financial position and the measures required to restore its share capital.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">Moreover, the company’s Board of Directors, which met on 30 June 2026, resolved to file a petition pursuant to Article 44 of Legislative Decree No. 14/2019 (the so-called “domanda prenotativa”), in order to access protective legal measures and safeguard business continuity.The decision follows recent developments in discussion with shipowners, which the company said no longer made it possible to pursue a turnaround solely within the framework of the negotiated settlement procedure. The filing, expected to take place immediately, will allow the company to operate under court protection while preparing a restructuring plan.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> owns the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brands, and continues to operate its new-build and refit businesses while the restructuring process remains ongoing.

The Italian Sea Group reports financial debt

The Italian Sea Group (TISG) has released an updated market disclosure outlining its financial position as of 31 May 2026.

TISG reports over €178 million net financial debt in latest restructuring update 

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> and <a data-gid="gid://syiq/Company/4680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Yacht International (Company)">Royal Yacht International</a> have announced the delivery of the 23.96-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Gentleman 24M yacht. The yacht was officially christened <a data-gid="gid://syiq/Yacht/12325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gentleman23.96m (78'7&quot;)Picchiotti2025">Gentleman</a> at the shipyard in La Spezia and delivered to <a data-gid="gid://syiq/Company/4680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Yacht International (Company)">Royal Yacht International</a> Chairman Tommaso Chiabra as she joins their charter fleet. <img src="https://photo-assets.superyachttimes.com/photo/397262/image/large-69463179651c336f45f621e2a3eab461.jpg" data-gid="gid://syiq/Photo/397262">Designed by <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini Design &amp; Architecture</a> in collaboration with <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Centro Stile, the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brand was relaunched in 2022, just six months after the acquisition of the company by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.&nbsp;Read more:&nbsp;<a data-gid="gid://syiq/Article/55685" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group relaunches Picchiotti brand with a new Gentleman yacht line (2022-08-03 12:00:00 +0200)">The Italian Sea Group relaunches Picchiotti brand with a new Gentleman yacht line</a><img src="https://photo-assets.superyachttimes.com/photo/397263/image/large-9d2b1e1afb8a57386a11c5c8c4b07162.jpg" data-gid="gid://syiq/Photo/397263">“We are proud to acquire this exceptional asset and to contribute to the revival of one of the most historic names in Italian shipbuilding,” commented Tommaso Chiabra, Chairman of <a data-gid="gid://syiq/Company/4680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Yacht International (Company)">Royal Yacht International</a>.Inspired by the silhouette of the American yachts of the sixties, <a data-gid="gid://syiq/Yacht/12325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gentleman23.96m (78'7&quot;)Picchiotti2025">Gentleman</a> boasts timeless classic lines and is produced entirely in aluminium. She showcases glossy mahogany details and polished plating on her bow and the sides of her stern.<img src="https://photo-assets.superyachttimes.com/photo/397261/image/large-601aad94946cbee604189de94508e6a8.jpeg" data-gid="gid://syiq/Photo/397261">Spanning 149 GT, <a data-gid="gid://syiq/Yacht/12325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gentleman23.96m (78'7&quot;)Picchiotti2025">Gentleman</a> can comfortably accommodate up to six guests across a three stateroom configuration on the lower deck, with her full-beam owner’s suite situated amidships.&nbsp;“The <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Gentleman 24M has a rare quality: she feels immediately familiar, elegant and beautifully Mediterranean,” added Chiabra. “She has substance, warmth and personality; she belongs to a lineage of yachts conceived for private life at sea, while speaking naturally to the expectations of contemporary charter clients.”Conceived for Mediterranean cruising, she features plenty of open-air spaces, with a large beach club for charter living. Perfect for clients seeking privacy and charm, <a data-gid="gid://syiq/Yacht/12325" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gentleman23.96m (78'7&quot;)Picchiotti2025">Gentleman</a> gives the feeling of a private residence on the water. <img src="https://photo-assets.superyachttimes.com/photo/397264/image/large-c0669bf9240500ea4ff1be1400818b85.jpg" data-gid="gid://syiq/Photo/397264">“<a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> carries the spirit of Janus: one gaze turned towards centuries of seafaring knowledge, the other towards those who will define the next codes of yachting,” added Gianmaria Costantino, Chief Commercial Officer of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.“She offers a measured threshold into the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> world: time onboard becomes a first form of belonging, and that first encounter may quietly mature into something deeper and more personal.”<img src="https://photo-assets.superyachttimes.com/photo/397265/image/large-817d20ffb7d4c6c57e79117b435352b2.png" data-gid="gid://syiq/Photo/397265">(Images courtesy of The Italian Sea Group and Royal Yacht International.)

Gentleman: Picchiotti Gentleman 24M yacht delivered

TISG and RYI have announced the delivery of the first Picchiotti Gentleman 24M yacht, which has been christened Gentleman. 

First Picchiotti Gentleman 24M yacht delivered and christened Gentleman

The 55.7-metre <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> explorer <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">yacht Galileo for sale</a> has entered the market with Kevin Bonnie of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>.<img src="https://photo-assets.superyachttimes.com/photo/359237/image/large-9bfe47aeb4fbe48df5ced44c49d2ac39.png" data-gid="gid://syiq/Photo/359237">Delivered in 2011, <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">Galileo</a> was developed through a collaboration between Philippe Briand’s <a data-gid="gid://syiq/Company/1405" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vitruvius Yacht Design (Company)">Vitruvius Yacht Design</a> and <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>’s <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> division. The <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> features exterior design by <a data-gid="gid://syiq/Company/1405" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vitruvius Yacht Design (Company)">Vitruvius Yacht Design</a>, while her interiors were penned by <a data-gid="gid://syiq/Company/5047" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fossati Design Bureau (Company)">Fossati Design Bureau</a>. Her naval architecture was crafted by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and <a data-gid="gid://syiq/Company/53" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Briand Yacht Design (Company)">Briand Yacht Design</a>.<img src="https://photo-assets.superyachttimes.com/photo/359244/image/large-48dcb37b5b27a41633c54a23399c7067.png" data-gid="gid://syiq/Photo/359244">Constructed with an ice-reinforced steel hull and an aluminium superstructure, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> has circumnavigated the globe twice and was previously known as Galileo G.<img src="https://photo-assets.superyachttimes.com/photo/359243/image/large-05ff499da201398733c8257ae59c00d9.png" data-gid="gid://syiq/Photo/359243"> Notably, <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">Galileo</a> has undergone extensive technical works completed recently in 2025 and 2026, including a total rebuild of the port engine including a total rebuild of the port engine, a top-end overhaul of the starboard engine, installation of a new AC system and completion of her 15-year survey. According to the brokerage, the yacht also benefits from noise and vibration insulation alongside low fuel consumption.<img src="https://photo-assets.superyachttimes.com/photo/359250/image/large-178e3e65ff3674023301560e207f3083.png" data-gid="gid://syiq/Photo/359250">Exterior-wise, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/built-by=perini-navi" rel="noopener noreferrer" target="_blank" title="">Perini Navi yacht for sale</a> boasts a lazarette that was redesigned in 2023 for a more effortless access to diving, surfing and gym equipment, strengthening her credentials for adventures and expeditions. Additional out features include generous spaces for relaxing, alfresco dining spaces and a spacious beach club and swim platform built for water sports and direct access to the sea.<img src="https://photo-assets.superyachttimes.com/photo/359251/image/large-1110ca60a8be131bb05207bf7540598c.png" data-gid="gid://syiq/Photo/359251">Stepping inside, the <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">yacht Galileo for sale</a> welcomes her guests with a calm and contemporary interior centred around walnut-toned joinery, soft neutral furnishings and panoramic windows designed to maximise natural light and connection to the surrounding seascape. Her interiors prioritise comfort and livability, well-suited to extended cruising.<img src="https://photo-assets.superyachttimes.com/photo/359248/image/large-6e936de644fe44eec7d01d66b16fe6a4.png" data-gid="gid://syiq/Photo/359248">Stretching at 726 GT with a beam of 10.3-metres, accommodation onboard the <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> is arranged for up to 12 guests across five well-appointed staterooms. Dedicated quarters are available for a crew of 11, including her captain.<img src="https://photo-assets.superyachttimes.com/photo/359245/image/large-5bbdd096c8820d770bd4d7d0f32498f0.png" data-gid="gid://syiq/Photo/359245" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> In terms of performance, the <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">yacht Galileo for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, delivering a cruising speed of 12 knots and a top speed of 16 knots.<img src="https://photo-assets.superyachttimes.com/photo/359238/image/large-59ac48513b7f385182527c39338f437e.png" data-gid="gid://syiq/Photo/359238">All images provided courtesy of&nbsp;<a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>.

56m Perini Navi explorer yacht Galileo for sale

The 55.7m Perini Navi explorer yacht Galileo has been listed for sale with IYC following extensive 2025 and 2026 technical upgrades.

MEDYs largest yachts attending


SuperYacht Times takes a closer look at the largest yachts set to attend MEDYs 2026.

Largest yachts attending the Mediterranean Yacht Show 2026

Since its formation in 2009, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has followed a growth strategy centred on acquisitions and brand consolidation. The <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s initial expansion began with the acquisition of <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, followed by <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> and <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a>, extending its reach across multiple yacht segments. In 2021, the acquisition of <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi S.p.A.</a>, including the <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brands, further diversified the portfolio. Alongside brand acquisitions, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a> has also invested in supply chain companies such as <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi Interiors.</a>In November 2024, Gianmaria was appointed Chief Commercial Officer, overseeing the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s commercial activities at a global level, including sales operations across its portfolio of brands. SuperYacht Times sat down with Gianmaria to discuss his entry into the yachting sector and his initial areas of focus at <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, alongside his perspective on the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s current position and outlook.<img src="https://photo-assets.superyachttimes.com/photo/386329/image/large-5b57b6cc7647b019165636d2e632aab4.jpg" data-gid="gid://syiq/Photo/386329">From finance to yachting“My background was completely different from the yachting sector. I graduated in economics and finance at Bocconi, and my early career was focused on numbers, first working in private equity in London and then in mergers and acquisitions in Italy,” Gianmaria says.Despite his non-maritime background, he notes that a grounding in finance and economics is directly relevant to his role within the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s commercial organisation. “Yacht sales involve very high values. Having a strong understanding of budgets, margins and how these yachts are sold is essential. Even without a background in yachting, my experience in finance and economics aligns closely with what I am doing today.” Immediate focus after his appointment at TISGWhen asked about his immediate priorities on joining the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>, Gianmaria points to expanding international reach and clarifying brand positioning across the portfolio. “My first focus was to expand the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s international network,” he says. “At the same time, it was important that each brand had its own identity and clearly defined products, so that clients could understand what distinguishes <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>.” He notes that this work began earl 2025, citing projects such as the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> 53-metre concept and the <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> for Lamborghini 101, presented at the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show 2025</a>.Asked how this differentiation is maintained in practice, Gianmaria acknowledges the complexity of managing a multi-brand structure, where overlap can occur. “When you have several brands, the risk of redundancy is always there, both in products and in brand characteristics,” he says.<img src="https://photo-assets.superyachttimes.com/photo/386333/image/large-afa0882c27e8f71d483d79ce693fd7cf.jpg" data-gid="gid://syiq/Photo/386333">He explains that the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s response has been to define each marque according to clear design, size and usage parameters. <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> is positioned around sporty yachts in smaller size ranges, including the <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> for Lamborghini collaboration. <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, by contrast, follows a more understated and explorer-oriented approach, with projects such as Exuma and Nautilus and the recent 53-metre concept reflecting a more contemporary interpretation of the brand.<a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, he adds, is centred on elegant motor yachts, with the current direction focused on larger custom projects alongside its established semi-custom range. “We currently have a 100-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> yacht under construction,” Gianmaria notes, adding that the yard’s dry dock allows for projects of up to 140-metres, while the semi-custom line continues across the 40-metre, 50-metre and 55-metre segments.Turning to <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, Gianmaria emphasises continuity in the brand’s sailing focus, noting that “<a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> remains dedicated to sailing yachts, primarily in aluminium or steel and aluminium construction, with projects ranging from 47-metres to 77-metres”.<img src="https://photo-assets.superyachttimes.com/photo/386334/image/large-ce74ea3034cc6e3e079902c522dad150.jpg" data-gid="gid://syiq/Photo/386334">Balancing heritage and innovation at PicchiottiFollowing the acquisition of <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti Yachts</a> in 2022, a brand whose shipbuilding heritage traces back to 1575 in Viareggio, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> moved to reposition it through the development of a new motor yacht range known as the Gentleman Line, alongside larger-scale concepts.The 24-metre model marks the first vessel in the series, intended to span from 24-metres to 55-metres, developed in collaboration with <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini Design &amp; Architecture</a>. Rather than relying solely on renderings, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a> chose to introduce the line with a physical yacht. “It was important to launch the line with a real vessel,” Gianmaria says.He explains that presenting a physical yacht allowed the brand’s proportions, spatial logic and on-water performance to be experienced directly, establishing a tangible reference point for this dimension of the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> identity.<img src="https://photo-assets.superyachttimes.com/photo/386336/image/large-342beceff93502dbcfafd2d600662bbb.png" data-gid="gid://syiq/Photo/386336">Expanding on the direction established with the Gentleman Line, the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> P53 applies the same design philosophy at a larger scale. Conceived as a fully aluminium motor yacht, the model reflects what Gianmaria describes as a sailing-inspired approach to motor yacht design. “The idea behind <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> motor yachts was to create sailing yachts without the mast,” he says.He presents the P53 as expressing another dimension of the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> identity, combining contemporary motor yacht architecture with principles traditionally associated with sailing vessels. In practical terms, this translates into an emphasis on proportion, longitudinal continuity and volumes developed horizontally to reinforce a strong visual relationship with the sea.Design features include a pronounced bow, open beach clubs and fold-down balconies, alongside expansive exterior areas. Aluminium construction and a relatively shallow draught further contribute to operational flexibility across different cruising grounds.<img src="https://photo-assets.superyachttimes.com/photo/386335/image/large-1f8bd4aae5d129499769cf2617ee161d.jpg" data-gid="gid://syiq/Photo/386335">From expansion to consolidationLooking back over the past five years, Gianmaria describes an initial phase of acquisitions followed by a shift towards internal development. One of the most significant steps during that period, he notes, was the gradual increase in ownership and integration of <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a>, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s interiors specialist.“<a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a> was an important step for us,” Gianmaria says. “Beyond the increase in ownership, we invested in restructuring the company and expanding its capacity, which allowed a larger share of interior production to be handled internally.”<img src="https://photo-assets.superyachttimes.com/photo/386331/image/large-9a49d17675cd530154e2543599701e8f.jpg" data-gid="gid://syiq/Photo/386331">Alongside the acquisitions of <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi&nbsp;</a>and <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, he explains that recent efforts have focused less on further purchases and more on strengthening how the organisation operates. This has included closer coordination between sales, marketing and research and development, as well as plans to expand dedicated R&amp;D functions.At the headquarters in Marina di Carrara, this shift has also translated into physical expansion, with new areas under development intended to support client engagement and closer collaboration between commercial and technical teams. Collectively, these measures reflect a move towards greater internal integration and verticalisation of the production process.<img src="https://photo-assets.superyachttimes.com/photo/386330/image/large-2f4845c1630591bedb009401d00f975b.jpg" data-gid="gid://syiq/Photo/386330">While Giovanni Costantino continues to oversee the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">group</a>’s industrial direction, Gianmaria’s remit has centred on refining its commercial structure and brand architecture during this latest phase, reinforcing the transition from acquisitive growth towards a more integrated operating model.

Gian Maria Costantino on expansion and consolidation at TISG

Gian Maria Costantino outlines The Italian Sea Group’s strategic shift from acquisitions to consolidation, brand positioning and internal integration.

From expansion to consolidation: Gianmaria Costantino at The Italian Sea Group

<img src="https://photo-assets.superyachttimes.com/photo/383640/image/large-1228b9248dfc48100cbe9342493feb6e.jpg" data-gid="gid://syiq/Photo/383640">Spotted recently docked in Tenerife, Canary Islands, Spain, was the 49.5-metre superyacht <a data-gid="gid://syiq/Yacht/1939" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Falco Moscata49.5m (162'5&quot;)Perini Navi2010">Falco Moscata</a>, formerly known as Exuma. Delivered in 2010 by Italian shipyard <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, she was the first yacht launched in the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Vitruvius line and was conceived as an eco-focused explorer designed for long-range cruising in all conditions. Fresh from a six-month refit in La Spezia, completed in March 2025, she features naval architecture by <a data-gid="gid://syiq/Company/53" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Briand Yacht Design (Company)">Philippe Briand</a>, with exterior design by <a data-gid="gid://syiq/Company/1405" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vitruvius Yacht Design (Company)">Vitruvius Yacht Design</a> and interiors penned by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>. <a data-gid="gid://syiq/Yacht/1939" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Falco Moscata49.5m (162'5&quot;)Perini Navi2010">Falco Moscata</a> accommodates up to 11 guests across six staterooms, including a full-beam owner’s suite, supported by a crew of seven. Multiple award-winning, she features a specially engineered hull for improved fuel efficiency, extendable stabilisers and generous deck spaces suited to exploration. Powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> diesel engines, she cruises at 14 knots and can reach a top speed of 16.5 knots.If you would like to see your photo featured each day, then send your submissions to&nbsp;<a href="mailto:news@superyachttimes.com" target="_blank">news@superyachttimes.com</a>. &nbsp;

50m Perini Navi superyacht Falco Moscata in Tenerife 

The 50m superyacht Falco Moscata, built by Perini Navi in 2010, was observed docked here in Tenerife, Spain. 

It is with great sadness that we announce the passing of Italian fashion designer and Maison Valentino co-founder Valentino Garavani. According to Fondazione Valentino Garavani e Giancarlo Giammetti (FVGGG), he passed away surrounded by his loved ones on 20 January at his residence in Rome.<img src="https://photo-assets.superyachttimes.com/photo/383445/image/large-4b567ae966bbd7c06517ddbf46c115a3.png" data-gid="gid://syiq/Photo/383445">Considered one of the greats of 20th-century fashion, Valentino was born in 1932 in Voghera, a town south of Milan. His fascination with fashion began at a young age, apprenticing under his aunt and a local designer before pursuing formal training at the École de la Chambre Syndicale de la Couture Parisienne in Paris. From these early foundations, Valentino went on to become a household name in couture.His creations graced wedding aisles and red carpets alike, from Jacqueline Kennedy Onassis’ iconic ivory lace wedding dress to Julia Roberts’ unforgettable vintage black-and-white Valentino gown, worn as she accepted her Academy Award in 2001.&nbsp;Valentino’s passion for luxury went beyond fashion, making him one of the first designers to own a superyacht, according to <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, who built his 46.32-metre <a data-gid="gid://syiq/Yacht/1814" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="T.M. Blue One46.32m (151'12&quot;)Picchiotti1988">T.M. Blue One</a>. Completed in 1988, the yacht served as a tribute to his parents, Teresa and Mauro, with the designer’s muse and close friend Sophia Loren present at her launch.<img src="https://photo-assets.superyachttimes.com/photo/12845/image/large-2e31e426e9ddccdfd07713680e7bd915.JPG" data-gid="gid://syiq/Photo/12845">With a distinctive navy blue hull accented by a light blue stripe, <a data-gid="gid://syiq/Yacht/1814" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="T.M. Blue One46.32m (151'12&quot;)Picchiotti1988">T.M. Blue One</a> features exterior design and naval architecture penned by <a data-gid="gid://syiq/Company/172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gerhard Gilgenast (Company)">Gerhard Gilgenast</a>. Although no official photos have been released, her Mediterranean-inspired interiors were drawn from the boards of American architect <a data-gid="gid://syiq/Company/1107" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Peter Marino (Company)">Peter Marino</a>. <a data-gid="gid://syiq/Yacht/1814" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="T.M. Blue One46.32m (151'12&quot;)Picchiotti1988">T.M. Blue One</a> can accommodate up to 10 guests and is supported by a crew of nine. She is powered by twin Caterpillar engines, propelling her to a cruising speed of 12 knots and a top speed of 14 knots.Valentino’s foundation has confirmed that the lying in state will take place at PM23, Piazza Mignanelli 23, on Wednesday, 21 January 21, and Thursday, 22 January, from 11:00 a.m. to 6:00 p.m. The funeral is scheduled for Friday, 23 January, at 11:00 a.m. at the Basilica Santa Maria degli Angeli e dei Martiri, Piazza della Repubblica 8, Rome.SuperYacht Times extends its deepest condolences to Valentino Garavani’s family, friends, and the entire Maison Valentino and FVGGG teams during this time of loss.

fashion designer Valentino Garavani dies

Luxury fashion designer Valentino Garavani passes away in Rome at 93.

In Memoriam: Italian fashion designer and yacht owner Valentino Garavani dies at 93

Superyachts in St Barths for New Year’s 2026

SuperYacht Times takes a look at some of the many yachts that set the scene for celebrations on and off the water in St Barths.

In Pictures: Superyachts in St Barths for New Year’s 2026

<img src="https://photo-assets.superyachttimes.com/photo/375421/image/large-69cfe4a7338ab49ce9838eca06b1bd97.jpg" data-gid="gid://syiq/Photo/375421">Earlier this month, the 73.3-metre superyacht <a data-gid="gid://syiq/Yacht/3448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautilus73.3m (240'6&quot;)Perini Navi2014">Nautilus</a> was observed anchored here in Antibes, in the south of France, following a period of maintenance works completed this spring in La Ciotat. Formerly known as Grace E, the superyacht <a data-gid="gid://syiq/Yacht/3448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautilus73.3m (240'6&quot;)Perini Navi2014">Nautilus</a> was delivered in 2014 by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> under its <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brand in Viareggio as the largest motor yacht built by the shipyard. Designed for efficient, long-range cruising, the 1,876 GT yacht features exterior styling by <a data-gid="gid://syiq/Company/53" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Briand Yacht Design (Company)">Briand Yacht Design</a> and interiors originally created by the French designer <a data-gid="gid://syiq/Company/533" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rémi Tessier (Company)">Rémi Tessier</a>. Powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> diesel-electric engines, she offers a cruising speed of 12 knots, a top speed of 16.5 knots, and a range of 7,500 nautical miles.If you would like to see your photo featured each day, then send your submissions to&nbsp;<a href="mailto:news@superyachttimes.com" target="_blank">news@superyachttimes.com</a>.

73m Perini Navi superyacht Nautilus anchored in Antibes

The 73m superyacht Nautilus, built by Perini Navi in 2014, was spotted anchored here in Antibes, France. 

In collaboration with Automobili Lamborghini, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Italian Sea Group (TISG</a>) has unveiled the 31-metre&nbsp;<a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;Lamborghini 101&nbsp;at the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show 2025</a>, along with two new <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> concepts: the 53-metre P53 and the 63-metre P63.<img src="https://photo-assets.superyachttimes.com/photo/372441/image/large-7970d83335557caf437e6dde7a7786b4.jpg" data-gid="gid://syiq/Photo/372441">Following the success of the <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;for Lamborghini 63, the <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;Lamborghini 101 motor yacht represents a leap forward in performance and design.<img src="https://photo-assets.superyachttimes.com/photo/372438/image/large-13cb2767e53bbad20c677776ff317e2e.png" data-gid="gid://syiq/Photo/372438">With sculpted, aerodynamic lines inspired by Lamborghini’s super sports cars, she is a statement of power, capable of reaching a top speed of 45 knots. Her interior can be fully customised, allowing each vessel to be configured according to the owner's preferences.<img src="https://photo-assets.superyachttimes.com/photo/372443/image/large-f92b2d0e49b713ab0541287246d3e5fa.jpg" data-gid="gid://syiq/Photo/372443">“The <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>&nbsp;Lamborghini 101 is not just a new model; it’s a vision brought to life,” commented Gianmaria Costantino, Chief Commercial Officer of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>. “We have listened to the evolving desires of today’s yacht owners and translated them into an uncompromising experience. This yacht unites power, design, and identity in a single statement.”<img src="https://photo-assets.superyachttimes.com/photo/372439/image/large-2d60b91376920436a00eaab405e5e7bc.jpg" data-gid="gid://syiq/Photo/372439">Prominent representatives from both companies attended the launch, including Christian Mastro, Head of Marketing at Automobili Lamborghini; Mitja Borkert, Director of Lamborghini Centro Stile; and Giovanni Costantino, CEO and Founder of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/372437/image/large-3681b6515f751e92ca304ab7198aa63b.jpg" data-gid="gid://syiq/Photo/372437"><a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> Lamborghini 101 is powered by triple <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines and has an aluminum hull and superstructure.

TISG unveils new 31m Tecnomar Lamborghini motor yacht

The Italian Sea Group presented the world premiere of the 31-metre Tecnomar for Lamborghini 101.

TISG unveils new 31m Tecnomar Lamborghini 101 motor yacht  

Monaco Yacht Show 2025 list of yachts

SuperYacht Times curated a list of yachts expected to grace the world's premier show for superyacht exhibition.


Yachts attending Monaco Yacht Show 2025

The 29.7-metre yacht <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987">Karma</a>, built by Italian shipyard <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchioti</a>, is listed for sale with Adam-Michael Papadakis of <a data-gid="gid://syiq/Company/808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moravia Yachting (Company)">Moravia Yachting</a>. She is characterised by her classic Italian design and spacious decks.<img src="https://photo-assets.superyachttimes.com/photo/243034/image/large-bd5e91a76e023c49c3c714b805767054.jpeg" data-gid="gid://syiq/Photo/243034">The <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987">yacht Karma for sale</a> has benefitted from major refits in 2019 and 2023, combining her classic design with modern-day standards in superyachts. In terms of accommodation, <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987">Karma</a> accommodates up to 12 guests in five staterooms. <a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987"><img src="https://photo-assets.superyachttimes.com/photo/243031/image/large-3d0fbc53aa93114b4275188e33283a1d.jpeg" data-gid="gid://syiq/Photo/243031"><img src="https://photo-assets.superyachttimes.com/photo/243044/image/large-fad8fc49890527a5e795b7328b614e43.jpeg" data-gid="gid://syiq/Photo/243044">Karma</a>’s interiors are refined and contemporary. The <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> features a spacious main saloon equipped with a large sofa and dining area, alongside entertainment options. Moreover, the saloon has a sofa-bed that converts into an extra stateroom when needed.<a data-gid="gid://syiq/Yacht/4964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma29.7m (97'5&quot;)Picchiotti1987"><img src="https://photo-assets.superyachttimes.com/photo/243030/image/large-6f122f958f46c0a04c13bb81de58df2d.jpeg" data-gid="gid://syiq/Photo/243030"><img src="https://photo-assets.superyachttimes.com/photo/243027/image/large-9f0d79d314be53e8e75ba3b08704a609.jpeg" data-gid="gid://syiq/Photo/243027"><img src="https://photo-assets.superyachttimes.com/photo/243035/image/large-49cca88e610567dd197e887785e3bc0e.jpeg" data-gid="gid://syiq/Photo/243035">Karma</a>, at her stern also features a generous swim platform with staircases upward leading to the alfresco dining aft deck. Additionally, the <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> has an upper deck complete with a sumptuous L-shaped sofa along with sunbeds, alfresco dining table with chairs shaded by the bimini hardtop above.<img src="https://photo-assets.superyachttimes.com/photo/243036/image/large-b488bc846ed4f850dc3c0c54249b2c1b.jpeg" data-gid="gid://syiq/Photo/243036">Performance-wise, the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchioti yacht for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines and cruises at a normal speed of 14 knots and a top speed of 16 knots.Images courtesy of&nbsp;<a data-gid="gid://syiq/Company/808" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moravia Yachting (Company)">Moravia Yachting</a>.

Picchioti yacht Karma for sale

Karma yacht by Picchioti available on the market with Adam-Michael Papadakis of Moravia Yachting


 30m Picchioti motor yacht Karma for sale

Citing current geopolitical and economic constraints, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> (TISG) has reported a decline in key financial metrics, as outlined by its Board of Directors in the company’s half-year report. The company’s portfolio includes brands <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a> and <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi 1920</a>.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">The results revealed a 1.4% decline in revenue compared to the first half of 2024, while net profit fell sharply by 58%, partly due to the previous period benefiting from a capital gain on the sale of the Viareggio shipyard.Commenting on these figures, Founder and CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> Giovanni Costantino stated: “In a context of ongoing geopolitical and economic tensions, the protectionist policies enacted by the U.S. administration – through the introduction of additional import duties – have increased overall uncertainty and further complicated a market environment already undergoing a normalisation phase after the strong growth of recent years.”Below are the key figures to take away from the first half of 2025:<ul><li>Revenue €186.8 million, a decrease of 1.4% compared to €189.4 million in the first six months of 2024</li><li>EBITDA €30.4 million, down 6.3% from €32.4 million in the first half of 2024, with a margin on revenue of 16.3% versus 17.1% in the same period last year</li><li>Net profit €12.2 million, a decline of 58% compared to the first half of 2024, which was boosted by a capital gain from the sale of the Viareggio shipyard</li><li>Net financial position stood at €63.2 million negative, compared to €12 million negative at the end of December 2024</li><li>Investments for the period totalled €1.5 million</li><li>Total order book valued at €1.19 billion as of 30 June 2025</li><li>Guidance update: 2025 revenue expected between €350 million and €370 million, with an EBITDA margin forecasted between 16.5% and 17.0%</li></ul>“In this challenging scenario – characterised by a physiological, though temporary, slowdown in the yachting industry and longer negotiation timelines, particularly for larger yachts – we are satisfied with the regular progress of the many projects currently under construction,” explained Giovanni.Here is a complete summary of&nbsp;<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group’s</a>&nbsp;financial results for the first six months of 2025:RevenuesFor the first half of 2025, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported revenues of €186.8 million, representing a slight decrease of 1.4% compared to €189.4 million in the same period of 2024. Operating revenues totalled €183.5 million.Shipbuilding revenues reached €172.6 million, marking a 3% increase year-on-year, which <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> attributes to the steady progress of its ongoing contracts. Meanwhile, refit revenues amounted to €10.9 million, down 52% compared to the first half of 2024, reflecting a strategic focus on shipbuilding activities during the period.EBITDA EBITDA totalled €30.4 million, a decrease of 6.3% compared to €32.4 million in the same period of 2024, with a margin of 16.3%. The modest drop in profitability reflects a higher proportion of fixed structural costs, stemming from the lower production value recorded during the period.EBITEBIT stood at €25.6 million, down 4.5% compared to €26.8 million in the same period of 2024, with a margin on revenue of 13.7%.Net ProfitThe company also reported a group net profit amounting to €12.2 million, a decline of 58% versus €36.9 million in the first half of 2024. The report noted that the previous year’s result was boosted by a capital gain from the sale of the Viareggio shipyard.BacklogAs of 30 June 2025, the total order book, which represents the gross value of existing contracts for new yachts and refit projects yet to be delivered, stood at €1.19 billion, slightly down from €1.24 billion at 31 December 2024.The net backlog, which reflects the value of contracts for yachts not yet delivered, after deducting revenues already recognised in the income statement, was €362.3 million as of 30 June 2025, compared to €433.4 million at 31 December 2024.Investments<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> has made substantial investments in recent years to further internalise several high value-added production services, including steelwork and upholstery. During the first half of 2025, ordinary and extraordinary maintenance investments totalled €1.5 million.Net Financial PositionAs of 30 June 2025, the net financial position reflected net debt of €63.2 million, compared with €12.5 million at 31 December 2024 and €33 million at 31 March 2025. This change reflects the company’s operating results for the first half of the year, the distribution of €13 million in dividends and the investments undertaken during the period.In line with IAS/IFRS accounting standards, the net financial position also factors in the present value of concession fees payable to the Port Authorities for the shipyards in Marina di Carrara and La Spezia, as well as the Viareggio carpentry site. These fees totalled €7.5 million as of 30 June 2025 and will be settled over the respective concession periods.In June, the company secured a new €115 million medium-to-long-term loan with a seven-year term. This financing was accompanied by the repayment of all major existing loans at the time, effectively extending the average debt maturity under more favourable terms and ensuring sufficient resources to capitalise on an anticipated market recovery.Outlook for 2025The opening half of the year brought heightened uncertainty previously experienced in 2024. Alongside continued geopolitical unrest, most notably the ongoing war in Ukraine and worsening conflict in the Middle East, April also saw the implementation of new protectionist trade measures by the U.S. government.Given the current order book and progress on ongoing projects, the company now expects 2025 revenue to range between €350 million and €370 million, down from the earlier forecast of €410 million to €430 million. Profitability is projected at 16.5%–17.0%, compared with the previous guidance of 17.5%–18.0%.Against the backdrop of heightened market uncertainty and shifting global dynamics, Giovanni remarked: “Activity at our shipyards remains consistent, supported by meticulous organisation and ongoing enhancements to production processes. This has enabled us to deliver four large yachts during the period: three Admirals of 55, 66 and 78 metres and a 60-metre Perini Navi.”Expected Business Development<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> anticipates a positive outcome from ongoing negotiations for large yacht sales, reflecting growing demand for its brands. Strategic partnerships with <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani</a> and Automobili Lamborghini continue to strengthen, with new projects underway to reinforce the company’s position in the ultra-luxury segment.At the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show 2025</a>, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> will debut several flagship models, including the 72-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Giorgio Armani</a>, a 60-metre <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> sailing yacht, two <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> yachts (78-metre full custom and 55-metre semi-custom) and a new 24-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. These unveilings are expected to boost international visibility and drive commercial activity.The company is also advancing its semi-custom product line to broaden its offering, optimise production, improve margins and reduce delivery times, while preserving the craftsmanship and exclusivity that define its reputation.“We expect current negotiations to be finalised by the end of the fiscal year. The strength of our offering and the relationships we have built over time with increasingly informed international customers, together with our design excellence and tailor-made attention to detail, remain the key features of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> brands,” Giovanni concluded.

TISG revenue decline h1 2025

The Board of Directors of the Italian Sea Group (TISG) has released the company’s financial results for the first half of 2025.