<a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>, the all-new superyacht refit facility in Bijela, Montenegro, has officially opened. <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s 106.7-metre motor sailing yacht <a data-gid="gid://syiq/Yacht/4795" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Black Pearl106.7m (350'1&quot;)Oceanco2018">Black Pearl</a> arrived at the site earlier this month for her forthcoming refit – making her the first boat to dock in <a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>’s superyacht yard.<img src="https://photo-assets.superyachttimes.com/photo/247545/image/large-a4a1b4225635ed8ac7b5f7c84d6e6b10.jpg" data-gid="gid://syiq/Photo/247545">“Starting from today, with the service provided by <a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>, Montenegro presents itself to the world as a well-rounded facility for nautical tourism. In addition to moorings, it offers to yacht owners and their crews quality repairs, relieving them of the need to temporarily move from Montenegrin marinas every year,” Milo Đukanović, President of Montenegro, commented. “We are proud that this is the first marine facility of its type and scale in Montenegro. And that contributes to the perception of Montenegro as a new tourist destination in the Mediterranean and in Europe.”<a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a> is the redesigned Bijela shipyard, which has been transformed into a premium superyacht refit and maintenance facility. The Government of Montenegro granted a 30-year concession for the shipyard to PM Holdings LLC and <a data-gid="gid://syiq/Company/6122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="DryDocks World (Company)">Drydocks World Dubai</a>, who’ll run the facilities as a joint venture.The official opening ceremony was attended by a long list of dignitaries, including the President of Montenegro, Milo Đukanović, His Excellency Mohammed Al Shaibani, Managing Director of ICD, His Excellency Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, Captain Rado Antolović, CEO of <a data-gid="gid://syiq/Company/6122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="DryDocks World (Company)">Drydocks World</a> and Chairman of <a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>. <img src="https://photo-assets.superyachttimes.com/photo/179730/image/large-01b83a0f5da95ca26cfe3fa6c360e5e0.jpg" data-gid="gid://syiq/Photo/179730">The former Bijela shipyard, nearly 100 years old, was the largest ship repair yard in the Southern Adriatic. “The development of the project will create hundreds of jobs,” Đukanović added. “In addition to those in the shipyard itself, opportunities will be created for numerous small companies that provide special services, which represents a great opportunity not only for the present, but also for future generations.”Mohammed Al Shaibani, commented, “The Investment Corporation of Dubai is delighted that the joint venture between its operating business in Montenegro, PM Holdings LLC, and our expert marine engineering partner, <a data-gid="gid://syiq/Company/6122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="DryDocks World (Company)">Drydocks World Dubai</a>, is being realised through the opening of <a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>’s specialist superyacht shipyard. <img src="https://photo-assets.superyachttimes.com/photo/179731/image/large-5baf472550fcc5e913a02448316429d2.jpg" data-gid="gid://syiq/Photo/179731">Read:&nbsp;<a data-gid="gid://syiq/Article/54454" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro and Drydocks World on course to turn Bijela Shipyard into a leading superyacht refit centre (2022-01-20 12:30:00 +0100)">Porto Montenegro and Drydocks World on course to turn Bijela Shipyard into a leading superyacht refit centre</a>“Together we’ve shared a long-held ambition to re-activate Montenegro’s former Bijela shipyard in Kotor Bay, and <a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>’s new refit and repair facility, with the extraordinary superyacht marina village of Porto Montenegro as its backdrop, will create a unique and unrivalled year-round yachting hub in the Mediterranean. This is just the beginning for <a data-gid="gid://syiq/Company/6770" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adriatic 42 (Company)">Adriatic42</a>’s superyacht services, and we look forward to the employment opportunities and prosperity which they will bring to Montenegro.”Read:&nbsp;<a data-gid="gid://syiq/Article/55233" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro announces major expansion plans to position itself as “the premium yachting hub” in the Mediterranean (2022-05-27 11:00:00 +0200)">Porto Montenegro announces major expansion plans to position itself as “the premium yachting hub” in the Mediterranean</a>Captain Rado Antolović, added, “The opening of this unique facility for the refit and maintenance of superyachts, marks the beginning of a new era of sustainable and modern shipbuilding globally. It is also a great boost for the maritime and yachting sectors in Montenegro, with more than €40 million invested in the project to date, including for the acquisition of state-of-the-art infrastructure and investments in sustainable technologies.“

Adriatic42 superyacht refit centre in Montenegro officially opened

Drydocks World Bijela shipyard

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Adriatic42 official opening 

Adriatic42 refit facility in Bijela, Montenegro, has officially opened. 

Adriatic42 superyacht refit and maintenance centre in Montenegro officially opened 

Italian yacht builder <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> has announced that the KKCG owned shareholder Azúr a.s. has initiated legal proceedings challenging the appointment of the new board of directors at the company's shareholders' meeting on 14 May 2026.<img src="https://photo-assets.superyachttimes.com/photo/394210/image/large-3bfd53739fbb59d4d9e5f0968bf4da9e.jpg" data-gid="gid://syiq/Photo/394210">According to a statement released by <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> on 11 June, Azúr filed a writ of summons before the Court of Bologna on 9 June 2026 pursuant to Articles 2377 and 2378 of the Italian Civil Code.Azúr a.s. is a wholly owned part of KKCG’s global business, founded by Czech entrepreneur Karel Komárek. They bring together all of KKCG Maritime’s assets into a single entity and currently have a 23.23 percent stake in the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>.&nbsp;Azúr is currently seeking nullity and/or annulment of resolutions concerning the appointment of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>'s new board of directors, the determination of the number of board members and the appointment of the company's board of statutory auditors.They have also requested interim relief from the court to suspend the effectiveness of those resolutions pending the outcome of the proceedings. <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> have responded stating that they will take the necessary steps to defend its position.&nbsp;“<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>, having taken note of the service of the writ of summons, will protect its rights and will seek appropriate legal advice to defend and will have the absolute correctness of its conduct ascertained before the competent Court.”<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> confirmed that its corporate bodies remain fully operational and continue to perform their respective duties and responsibilities. They also added that these legal proceedings have no impact on its business operations, customer relationships, commercial activities or strategic projects.The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> officially announced the appointment of Stassi Anastassov as its new Chief Executive Officer with immediate effect, following the company’s Annual General Meeting held on 15 May 2026.Read more:&nbsp;<a data-gid="gid://syiq/Article/66099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group appoints Stassi Anastassov as CEO amid ownership tensions (2026-05-15 16:30:00 +0200)">Ferretti Group appoints Stassi Anastassov as CEO amid ownership tensions</a><img src="https://photo-assets.superyachttimes.com/photo/386471/image/large-5864e3d980f30348ec76855095f57666.jpg" data-gid="gid://syiq/Photo/386471">The appointment was confirmed by the Board of Directors, which also reconfirmed Tan Ning as Chairman of the Board and the departure of Alberto Galassi. On 15 May, KKCG Maritime submitted a request to the Italian government to assess whether <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> had breached "golden power" rules designed to shield strategic assets.The matter will now be considered by the Court of Bologna, with <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> stating that it will keep shareholders informed of any material developments in accordance with applicable laws and regulations.

KKCG Maritime challenges Ferretti Group board appointments in court

Ferretti has announced that the KKCG owned shareholder Azúr has initiated legal proceedings challenging the appointment of the new board of directors.

Ferretti shareholder KKCG Maritime challenges board appointments in court

<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 announced that the Court of Florence has partially lifted protective measures for five shipowners, following the company's ongoing negotiated crisis settlement procedure.<img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">On 16 March, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that it had initiated a negotiated settlement procedure under Italian Legislative Decree No. 14/2019, following internal financial irregularities. This legal framework aimed to enable them to restructure, while continuing to operate under the supervision of an independent expert.Following this, on 20 April, the Court of Florence granted protective measures for a maximum period of four months, restricting creditors from initiating or continuing enforcement actions against the company’s assets, including vessels currently under construction.The court also confirmed that these protective measures extended to shipowners, which prevented them from terminating their contracts of yachts currently under construction during the proceedings.The Court of Florence has now issued an order upholding the appeals filed by five shipowners which prevented them terminating their contracts. With respect to them it was also found that they were unable to exercise the other rights provided under their contracts.&nbsp;The court found that the yachts could not be covered by the protective measures because they were neither assets of the company, nor assets instrumental to its business operations.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><img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">The ruling also determined that the shipowners were not creditors against whom such measures could be applied and their right to obtain performance under the pending contract could not be satisfied through enforcement or interim measures.The order applies exclusively to the five shipowners who filed the appeals and has no effect on the other shipowners or creditors, with the previous measures remaining in effect for the duration already established by the Court.&nbsp;TISG also stated that these measures do not affect the ongoing negotiations with its main stakeholders, including shipowners, suppliers and financial institutions, as part of the company's economic and financial rebalancing plan which is currently in progress.The company also stated that, with regard to the affected shipowners, the substance of the contractual relationships remains unchanged despite the lifting of the protective measures.<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 it will continue to provide updates on developments relating to the procedure and any further initiatives undertaken in accordance with applicable regulations.

TISG: Florence court removes protections affecting five yacht contracts

A Florence court has partially lifted protective measures affecting five yacht contracts linked to TISG's ongoing negotiated settlement procedure.

Florence court lifts protective measures for five The Italian Sea Group yacht contracts

Industry veterans Adam Papadakis and Kurt Fraser have announced the launch of <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a>. According to the founders, it is "a new superyacht brokerage and advisory house combining traditional yachting expertise with a connected and intelligence-led approach to navigating the superyacht market."Headquartered in Monaco and serving an international client base, <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a> offers a full suite of brokerage, charter, yacht management and consultancy services, positioning itself as a long-term partner across every stage of the yachting journey.<img src="https://photo-assets.superyachttimes.com/photo/396755/image/large-03eb586a20f98c7bb1b9bab73768aced.png" data-gid="gid://syiq/Photo/396755">The company is led by Founder and CEO Adam Papadakis, whose career spans more than 25 years at some of the industry's most recognised brokerage houses. Throughout his career, Adam has advised clients on significant yacht transactions, new build projects and refits, building long-standing client relationships and helping drive the commercial success of some of the industry's most respected brands. Widely respected for his discretion, strategic insight and meticulous execution, <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a> reflects his belief that exceptional client outcomes are achieved through independent advice and deep market understanding.Joining him as Founding Executive and CCO is Kurt Fraser, a strategist, creative leader and international business executive whose career spans more than 25 years across the superyacht, luxury lifestyle, resort development and marina sectors. Throughout his career, Kurt has driven business transformation and contributed to the growth and commercial success of a number of leading yachting brands. He believes <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a>'s performance-driven model is uniquely aligned with the expectations of both established yacht clients and a new generation of owners seeking greater transparency, responsiveness and long-term value.While the launch of independent brokerage houses is not uncommon within the superyacht sector, the pairing of Adam and Kurt brings together two distinctly complementary areas of expertise. Combining deep brokerage experience with proven strategic, creative and commercial leadership, the duo have built a business founded on both reputation and capability.Their partnership reflects a broader shift within the industry, where clients increasingly seek the agility, transparency and personalised approach often associated with boutique brokerage houses, without sacrificing the expertise and international reach traditionally offered by larger organisations. In this respect, <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a> blends established industry knowledge with a more modern, insightful and adaptable approach to yacht brokerage.A strategic advisory approachAccording to the Founding team, <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a> has been established in response to increasing fragmentation across the yachting experience, with clients often relying on multiple service providers and disconnected sources of information, or larger organisations whose structures can inhibit a truly performance-driven approach."Rather than concentrating solely on transactional brokerage activity, <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a> will work closely with clients to develop personalised yachting strategies that reflect their lifestyle objectives and long-term aspirations. Whether a client's journey begins with charter, evolves into yacht ownership, or encompasses the management and optimisation of an existing asset, <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a>’s objective is to ensure that every stage of the experience is aligned with their individual expectations, priorities and goals.""The superyacht industry has always been relationship-driven and that will never change," said Adam. "However, clients today require more than access and execution. Better insight and better intelligence leads to better decisions and better experiences. This is the role <a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a> intends to fill as trusted partners to our clients.”<a data-gid="gid://syiq/Company/8896" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Matterhorn Yachts (Company)">Matterhorn</a>’s approach combines traditional brokerage expertise with strategic advisory and a deeper understanding of the factors that influence successful outcomes. The Founders believe that clients increasingly benefit from objective guidance, greater market visibility and a more integrated approach to decision-making. By bringing these elements together, the company aims to support clients across the full spectrum of yachting activities, from charter and acquisition through to ownership, management and eventual disposition.

Launch of Matterhorn yacht brokerage

Industry veterans Adam Papadakis and Kurt Fraser have announced the launch of Matterhorn, a new superyacht brokerage and advisory house.

Adam Papadakis and Kurt Fraser launch Matterhorn

<a data-gid="gid://syiq/Company/3779" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts (Company)">Dörries Yachts</a> has announced that it has agreed upon a lease of construction facilities within the Maritime Industry and Business Park Volkswerft Stralsund in Germany. <img src="https://photo-assets.superyachttimes.com/photo/395892/image/large-3ca38fdddd01e9ee25c8a081829cb148.jpg" data-gid="gid://syiq/Photo/395892">Located in the Hanseatic city of Stralsund, Volkswerft Stralsund the 34-hectare site was purchased by the city in February 2022, with the council working to develop it into a maritime industrial and commercial park.The Maritime Industrial and Commercial Park Volkswerft is already home to around 20 companies and offers extensive hall space, heavy-lift capabilities of up to 1,000 tonnes, direct water access and a highly skilled regional workforce.<img src="https://photo-assets.superyachttimes.com/photo/395889/image/large-a9056b5f718fa19673449bfbc198222e.jpg" data-gid="gid://syiq/Photo/395889">“Stralsund offers exactly the kind of environment we were looking for,” explained Henning Dörries, CEO of <a data-gid="gid://syiq/Company/3779" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts (Company)">Dörries Yachts</a>. “This is more than simply additional space, itis about creating the right environment to deliver ambitious projects efficiently and effectively.”Volkswerft Stralsund offers 97,000 square-metres of hall space, 32,000 square-metres of equipped office space and 24,00 square-metres of equipped workshop space and offers access via road, rail and inland/sea shipping.<img src="https://photo-assets.superyachttimes.com/photo/395893/image/large-0f32488cbf3c13ffc99a8b3423fba5fc.jpg" data-gid="gid://syiq/Photo/395893">“We are proud to welcome their success and expertise in the superyacht sector to our maritime industrial and commercial park,” said Volkswerft Stralsund. “Our facilities offer ideal conditions for conversion and new-build projects.”“The combination of infrastructure, expertise and maritime heritage available in Stralsund makes it a natural fit for our future plans,” concluded Dörries.<a data-gid="gid://syiq/Company/3779" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts (Company)">Dörries Yachts</a> has unveiled several superyacht concepts over the years, including the 75-metre <a data-gid="gid://syiq/Article/64397" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dörries Yachts & Phathom Studio unveil 75m superyacht concept Alyra (2025-10-02 14:45:00 +0200)">Alyra</a> designed by <a data-gid="gid://syiq/Company/5530" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Phathom Studio (Company)">Phathom Studio</a> and the 115.2-metre <a data-gid="gid://syiq/Article/61224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First Look: Dörries Yachts unveils 115m H2-designed superyacht concept Zephyr (2024-08-12 11:15:00 +0200)">Zephyr</a> yacht designed by <a data-gid="gid://syiq/Company/161" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="H2 Yacht Design (Company)">H2 Yacht Design</a>.<img src="https://photo-assets.superyachttimes.com/photo/395888/image/large-55c7722186f293194a8fedc63a57e1bb.jpg" data-gid="gid://syiq/Photo/395888">

Dörries Yachts construction facilities at Volkswerft Stralsund

Dörries Yachts has announced that it has agreed upon a lease of construction facilities at Volkswerft Stralsund in Germany.

Dörries Yachts agrees lease for new shipyard in Germany

A new international association for naval architects, exterior and interior designers operating in the superyacht sector has been formally launched, called the <a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">Superyacht Design and Naval Architecture Association (SYDNA)</a>.<img src="https://photo-assets.superyachttimes.com/photo/395084/image/large-ea7330f65bc3a99734a2919387e86bc7.jpeg" data-gid="gid://syiq/Photo/395084">Launched by Executive Director Clair Rozemeijer, alongside Luca Boldrini, Managing Partner of <a data-gid="gid://syiq/Company/4308" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="FM Architettura (Company)">FM Architettura</a> and Vice President of <a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a>, the organisation aims to provide greater collective representation for yacht designers and naval architects, an area of the superyacht industry that has historically lacked a unified voice despite significant growth over recent decades.“Associations are founded because individual companies often face similar challenges that they cannot solve entirely on their own, and the association’s role is to create a collective strategy and platform to address those challenges together so that ultimately all members benefit individually from the collaboration,” explained Rozemeijer.The association already counts 12 leading design and naval architecture practices among its membership, including <a data-gid="gid://syiq/Company/37" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azure Yacht Design & Naval Architecture (Company)">Azure Yacht Design &amp; Naval Architecture</a>, <a data-gid="gid://syiq/Company/17" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bannenberg & Rowell Design (Company)">Bannenberg &amp; Rowell Design</a>, <a data-gid="gid://syiq/Company/82" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Espen Øino International (Company)">Espen Øino International</a>, <a data-gid="gid://syiq/Company/4308" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="FM Architettura (Company)">FM Architettura</a>, <a data-gid="gid://syiq/Company/33" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hoek Design Naval Architects B.V. (Company)">Hoek Design</a>, <a data-gid="gid://syiq/Company/102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mulder Design (Company)">Mulder Design</a>, <a data-gid="gid://syiq/Company/153" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nauta Yachts S.r.l. (Company)">Nauta</a>, <a data-gid="gid://syiq/Company/65" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nuvolari Lenard (Company)">Nuvolari Lenard</a>, <a data-gid="gid://syiq/Company/8394" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Philippe Briand Group Ltd. (Company)">Philippe Briand</a>, <a data-gid="gid://syiq/Company/460" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van Oossanen Naval Architects (Company)">Van Oossanen Naval Architects</a>, <a data-gid="gid://syiq/Company/69" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Winch Design (Company)">Winch Design</a> and <a data-gid="gid://syiq/Company/105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuccon International Project (Company)">Zuccon International Project</a>, with qualifying studios invited to join<img src="https://photo-assets.superyachttimes.com/photo/395085/image/large-1f495a08cbefdd41f95fcaeceeb15138.jpg" data-gid="gid://syiq/Photo/395085">“Together with <a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a>'s board members and founding members, we explored where meaningful collaboration could exist, not in the areas where companies compete, but in the areas where we can collectively strengthen the profession of yacht designers and naval architects, and positively contribute to the wider industry,” added Rozemeijer.The association will aim to improve professionalism through market research, standard contracts, ethical guidelines and quality standards. <a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a> also plans to engage more actively with regulatory bodies including the <a data-gid="gid://syiq/Company/4531" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="International Maritime Organization (Company)">International Maritime Organization</a> and ISO, while encouraging greater knowledge-sharing among members.Sustainability will also form a core area of focus, as designers and naval architects can play a greater role in supporting the transition towards more sustainable technologies and solutions, including developments linked to Roadmap 2050, in collaboration with the <a data-gid="gid://syiq/Company/5877" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Water Revolution Foundation (Company)">Water Revolution Foundation</a>.“The Superyacht Builders Association (SYBAss) has successfully got the industry’s voice heard before new rules and regulations become a fait accompli,” added Espen Øino, founder and owner of <a data-gid="gid://syiq/Company/82" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Espen Øino International (Company)">Espen Øino International</a>, and President of <a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a>. <img src="https://photo-assets.superyachttimes.com/photo/395086/image/large-bd4c7ffda795a9ef61a079534321475b.jpeg" data-gid="gid://syiq/Photo/395086">“<a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a> allows us to have representation for elements specific to what we do as designers, whether that’s rules and regulations, how we deal with contracts, or other issues on which we will benefit from open discussion. It enables us to speak with one common voice toward authorities, the media, or clients.”The association also aims to strengthen recognition and credibility for member studios while supporting future generations of designers entering the sector. “The creative side of our industry has grown quite organically over many years and we’ve all entered it from different avenues,” said Jim Dixon, Studio Principal of Yachts &amp; Aviation at <a data-gid="gid://syiq/Company/69" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Winch Design (Company)">Winch Design</a> and board member of <a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a>. “We all felt it was time for consolidation, unanimity and robustness behind what we do.”To qualify for full membership, studios must have operated for at least 10 years and successfully delivered a minimum of five projects over 30 metres within the past decade, including new builds, major refits or conversions.“<a data-gid="gid://syiq/Company/8866" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Design and Naval Architecture Association (SYDNA) (Company)">SYDNA</a> means we can not only bring designers together better, but also enhance our communication, cross-fertilisation and collaboration with shipyards and brokers, and ultimately that helps to grow the industry as a whole,” concluded Boldrini.

SYDNA launches international association for superyacht designers and naval architects

A new international association for naval architects and designers
operating in the superyacht sector has been formally launched.

SYDNA launches to represent superyacht designers and naval architects

<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 announced plans to gradually increase activity across its shipyard operations, with the goal of returning to full operations in early June.In a statement issued today (27 May 2026), <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> stated that the shipyard's operational activities will be ‘progressively intensified’, amid the ongoing restructuring process. This follows last week’s announcement that the company’s share capital had fallen below the legal minimum.Read more: <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><img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">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>, the company aims to reach full operations, starting from the first ten days of June. They stated that a rebalancing process remains underway through previously identified strategic measures, with cash management and operational financial dynamics continuing to be monitored.CEO Giovanni Costantino confirmed that the restructuring process is being developed with the support of top-tier advisors, but also criticised certain trade union organisations, which he described as “superficial” and “provocative” to the situation.&nbsp;“Rather than working together constructively and contributing during such a crucial phase in the life of the company, figures are being cited at random with no understanding whatsoever of the actual business situation,” commented Giovanni Costantino.&nbsp;The company also provided updates on several key projects currently under construction, including the first unit of the new 49.95-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50M line, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a>, which recently completed sea trials and is scheduled for delivery in the first days of July, and the second hybrid unit, which will be launched in the first ten days of July, with delivery expected in September.Read more: <a data-gid="gid://syiq/Article/64891" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="50m Admiral Yachts Panorama series motor yacht Spribe launched (2025-12-02 15:00:00 +0100)">50m Admiral Yachts Panorama series motor yacht Spribe launched</a><img src="https://photo-assets.superyachttimes.com/photo/379687/image/large-11f9a8770e46f4ce46a8fb5632b8a7c1.jpg" data-gid="gid://syiq/Photo/379687">Meanwhile, the 31-metre <a data-gid="gid://syiq/Article/64789" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First 31m Tecnomar for Lamborghini 101 yacht moves to outfitting (2025-11-17 15:45:00 +0100)">Tecnomar for Lamborghini 101</a> yacht is currently undergoing the final stages of carpentry works at the Group’s Turkish facilities before being transferred to Italy in mid-June for outfitting. Construction of an additional 88-metre project is also progressing to schedule, with the yacht expected to arrive in Italy in October for completion works.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> also confirmed progress on its larger custom projects, including recently signed 82-metre and 85-metre builds acquired at the end of 2025. Both projects are currently in the detailed design phase, with keel-laying ceremonies expected to take place between July and September at the Group’s facilities in Turkey.&nbsp;The company added that activities within its refit division have continued without interruption, with operations at <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>, the Group’s interior and cabinetry division, progressing in line with planned schedules.In addition, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> confirmed that it will participate in the 2026 edition of the <a data-gid="gid://syiq/Event/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2026">Monaco Yacht Show</a>, scheduled to take place this September.

The Italian Sea Group aims for full operations by June 

TISG has announced plans to gradually increase activity across its shipyard operations, with the goal of returning to full operations in early June.

The Italian Sea Group aims for full operations by June amid company restructuring

<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> is facing a serious financial setback and has entered a formal court-supervised restructuring process in an effort to stabilise the business.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">In a forensic due diligence update, the company said it has recorded losses significant enough to reduce its share capital below the minimum level required under Italian law. This has triggered a material event under Article 2447 of the Italian Civil Code, which in turn requires mandatory corporate action and the activation of protective measures under Italy’s Crisis and Insolvency Code.The Board of Directors met on 21 May 2026 to address what it described as significant losses. <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> confirmed that it is now operating within a formal restructuring framework as it works to address the financial shortfall and restore its capital position.&nbsp;The update follows an announcement in April 2026, where <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> confirmed that the court of Florence had granted protective measures as part of its negotiated composition procedure to restructure the company.Read: <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><img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">The ruling comes following a criminal complaint filed by Chief Executive Officer Giovanni Costantino against certain former senior executives 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> who headed corporate functions and allegedly acted in coordination with one another.According to the company, preliminary assessments show that accumulated losses have reduced share capital below the legal minimum threshold required under Italian corporate law.&nbsp;While the exact figure has yet to be determined, the board confirmed that statutory obligations have been triggered, including the convening of a shareholders’ meeting and the preparation of updated financial statements.The board also approved the guidelines of a broader turnaround plan aimed at restoring financial stability and maintaining business continuity. The company stated that the plan is intended to preserve ongoing concern status, while rebalancing equity within the current financial year.The proposed measures include renegotiations with multiple ship owning companies to recover extra costs on existing contracts, the revaluation of real estate assets, potential disposal of non-core property assets and the possibility of positive effects arising from an agreement with tax authorities.The board said it believes the underlying assumptions of the plan provide a reasonable basis for overcoming the current financial difficulties, while continuing to operate across its shipbuilding and refit divisions.The company also acknowledged the causes of the crisis to misconduct by certain senior managers acting in coordination.&nbsp;Read: <a data-gid="gid://syiq/Article/65584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG files complaint against former executives following forensic investigation (2026-03-10 09:15:00 +0100)">TISG files complaint against former executives following forensic investigation</a><img src="https://photo-assets.superyachttimes.com/photo/355527/image/large-10e2f4203acc580bab536674f4910115.jpg" data-gid="gid://syiq/Photo/355527">As part of the restructuring framework, the company has also activated protective measures under Article 20 of Legislative Decree 14/2019, designed to safeguard operations while restructuring actions are implemented. The filing will take effect upon registration with the Companies’ Register.On 2 March, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that it had appointed KPMG to conduct an independent forensic investigation after it had identified significant extra-budget costs across its order portfolio.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>, the due diligence conducted by KPMG Advisory, originally initiated in February 2026, has been delayed due to the prioritisation of business continuity measures and changes in senior management. The completion of the review is now expected by late June or early July 2026.The company also confirmed it will continue to update the market as required under EU Market Abuse Regulation obligations.

TISG share capital falls below legal minimum

TISG is facing a serious financial setback and has entered a formal court-supervised restructuring process in an effort to stabilise the business.

TISG enters restructuring phase after share capital falls below legal minimum

<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has approved its unaudited consolidated periodic financial information for the first quarter of 2026, reporting lower revenue, profit and order intake, while maintaining a slightly improved adjusted EBITDA margin.Net revenue new yachts amounted to €302.1 million in the first quarter of 2026, down eight percent compared with €328.5 million in the same period last year. Adjusted EBITDA stood at €48.7 million, compared with €52.5 million in Q1 2025, while the adjusted EBITDA margin increased slightly to 16.1 percent, up from 16 percent a year earlier.<img src="https://photo-assets.superyachttimes.com/photo/394210/image/large-3bfd53739fbb59d4d9e5f0968bf4da9e.jpg" data-gid="gid://syiq/Photo/394210">Net profit for the period was €21 million, compared with €23.9 million in the first quarter of 2025. Order intake reached €179.6 million, down from €270.6 million in Q1 2025, reflecting what the company described as a softer commercial environment and slower order conversion.<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s net backlog stood at €722.3 million as of 31 March 2026, compared with €828.6 million at the end of December 2025. The company reported a net financial position of €18.4 million at the end of the quarter, down from €111 million as of 31 December 2025.Stassi Anastassov, Chief Executive Officer of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, said the first quarter had reflected “a softer commercial environment and slower order conversion than we would have liked, particularly on order intake.” He added that the group was approaching the market with “realism, discipline and operational focus.”Despite the lower order intake, Anastassov said the underlying fundamentals of the business remained solid, citing the group’s brand positioning, resilient margins and backlog visibility. According to <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>, more than €400 million of net backlog is expected to convert into 2026 revenues.For the full year 2026, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has issued guidance for net revenue new yachts of between €1.25 billion and €1.27 billion. The company expects an adjusted EBITDA margin of between 16.2 percent and 16.6 percent, with capital expenditure forecast between €70 million and €75 million.During the first quarter, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> participated in several major international boat shows, including Düsseldorf, Miami and Palm Beach. The company also remained the subject of corporate activity following KKCG Maritime’s conditional voluntary partial tender offer to acquire up to 15.4 percent of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s share capital.The offer, initially priced at €3.50 per share, was increased to €3.90 per share in March. The acceptance period closed on 13 April 2026, with KKCG Maritime receiving valid acceptances for 29,611,598 shares, representing approximately 8.75 percent of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s share capital. The total consideration amounted to €115.5 million.Following the end of the reporting period, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> also held its ordinary shareholders’ meeting on 14 May 2026. Among other resolutions, shareholders approved the audited separate financial statements for the year ended 31 December 2025, the distribution of an ordinary dividend of €0.11 per share, and the appointment of the new Board of Directors and Board of Statutory Auditors.<img src="https://photo-assets.superyachttimes.com/photo/394211/image/large-a4e5f60bae61b6a1d51d622c3e77d808.jpeg" data-gid="gid://syiq/Photo/394211">Read:&nbsp;<a data-gid="gid://syiq/Article/66087" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti CEO Alberto Galassi departs as company appoints new Board of Directors (2026-05-14 16:00:00 +0200)">Ferretti CEO Alberto Galassi departs as company appoints new Board of Directors</a> On 14 May 2026, the company held its ordinary shareholders’ meeting, during which shareholders approved the appointment of a new Board of Directors. The changes marked the departure of Alberto Galassi, who had led <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> as Chief Executive Officer for 12 years. <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s current corporate governance page lists Stassi Anastassov as Chief Executive Officer and Tan Ning as Chairman of the Board of Directors.

Ferretti Group reports lower Q1 revenue as order intake falls

Ferretti Group reports lower Q1 2026 revenue, profit and order intake, while maintaining a slightly improved adjusted EBITDA margin.

Ferretti Group reports €302m in Q1 revenue as order intake softens

Online marine marketplace <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">Off The Hook Yacht Sales</a> has announced that the company will officially rebrand as NextBoat Inc, effective on or about 29 May 2026.<img src="https://photo-assets.superyachttimes.com/photo/390341/image/large-be765afb7248df37e9b507deb714d575.jpg" data-gid="gid://syiq/Photo/390341">The rebrand will also see its ticker symbol on the New York Stock Exchange change from OTH to NXB and aims to reflect the company’s evolution from a traditional yacht brokerage business, into an AI-powered technology platform.“<a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">Off The Hook Yachts</a> was where we started, but NextBoat represents where we are going,” explained Chief Executive Officer Brian John. “We are building a technology platform that empowers brokers, dealers, resellers and marine entrepreneurs to buy and sell boats more efficiently through artificial intelligence, automation and data-driven infrastructure.”&nbsp;NextBoat is embedding artificial intelligence throughout the transaction process, through AI-driven valuations, AI-assisted acquisitions to identify off-market opportunities, AI-powered matching to connect buyer and sellers and AI-driven closing to automate documentation and workflows.&nbsp;“We’re entering a phase where technology doesn’t just support transactions-it executes them,” added Chief Operating Officer Blake Phillips. “This is how we believe we can scale efficiently without traditional overhead. We are an AI driven technology platform that allows us to be the largest buyer and seller of pre-owned boats.”Last week <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">Off The Hook Yachts</a> announced it had completed the acquisition of marine, service and storage company, Apex Marine Group. <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">Off The Hook Yachts</a> believes that the Apex acquisition opens the door for additional partnerships, as it expands both its sales and service platforms.Read:&nbsp;<a data-gid="gid://syiq/Article/66089" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts completes acquisition of Apex Marine Group (2026-05-14 16:30:00 +0200)">Off The Hook Yachts completes acquisition of Apex Marine Group</a><a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts (Company)">Off The Hook Yachts</a> will continue operating as a core division under NextBoat, with its focus primarily on B2B dealer transactions and inventory liquidation, allowing dealers to wholesale trade-ins and aged inventory through the platform."Just as technology transformed how people buy homes, cars and travel, we believe boating is approaching its own major digital transformation," concluded Philllips. "Our goal is not simply to participate in this evolution, we intend to define it."

Off The Hook Yacht Sales to rebrand as NextBoat

Off The Hook Yacht Sales has announced that the company will officially rebrand as NextBoat Inc, effective on or about 29 May 2026.

<a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor Marinas</a>’ acquisition of <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> has marked a defining step in the group’s international expansion, positioning the US-based operator firmly within the Mediterranean – widely regarded as the epicentre of global yachting. Yet, as CEO Baxter Underwood makes clear, the transaction is less about geographic reach alone and more about aligning with the right people, culture and long-term philosophy.We sat down with Baxter and the team at Monaco Marine as they prepared to rebrand the Mediterranean eco-system under the <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> banner, to understand how this relationship has developed and to find out their plans for the future. <img src="https://photo-assets.superyachttimes.com/photo/393753/image/large-6d9a79cfed5677ff0aef3b6de2780442.jpg" data-gid="gid://syiq/Photo/393753">A people-led approach to expansion<a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s entry into the Mediterranean was not a rapid decision. Over a five-year period, the group evaluated multiple opportunities across the region before completing the <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> acquisition in 2025. The process ultimately reinforced a core principle underpinning its growth strategy: successful expansion begins with people rather than infrastructure.“The growth strategy of <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> has always been to evaluate teams in each geography, be that the Caribbean, Central America or in this case the Mediterranean. Monaco Marine stood out for us because they had a strong team and the cultural characteristics to be a platform for expansion in the Med,” explained Baxter.Rather than seeking to replicate its US operating model abroad, <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> prioritised identifying a team already demonstrating excellence within its market. Monaco Marine, with its network of nine facilities across the Mediterranean, offered not only scale but, more importantly, a deeply embedded culture shaped by founder Michel Ducros.Underwood highlights that it was this culture – defined by precision, consistency and a relentless pursuit of improvement – that distinguished <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> from other opportunities. The company’s facilities, while quite significant, were secondary in importance to the strength of its human capital and operational ethos.Culture as the foundation of long-term valueAt the heart of the acquisition lies a recognition that cultural alignment is critical to long-term success. <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> operates with a distinct approach shaped by the nuances of the Mediterranean market, from client engagement to seasonal workflows and service delivery.“In the most important ways, the team and culture built by Michel was remarkably similar to our own. But they also did things differently than we did. Certain elements of their superyacht service model differed from how we operated in the US. We didn’t want to take our American mentality and force it on the European market, so we evaluated and embraced the positive differences, the ones that created value for the customers. This exchange of best practices has proven to be valuable. We’ve already begun implementing many of the learnings into our service model in the US.”&nbsp;Rather than viewing these differences as barriers, <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> viewed them as essential characteristics for succeeding in the region. The objective was not to impose uniformity, but to embrace and learn from a system already optimised for its environment.What ultimately aligned the two organisations was a shared commitment to excellence in a context of teamwork and desire to learn together. Underwood describes <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a>’s leadership as possessing an almost artistic attention to detail, supported by continuous investment in training, technology, and operational rigor that is always seeking client feedback. This alignment provides the foundation upon which mutually accretive integration is achievable.<img src="https://photo-assets.superyachttimes.com/photo/393751/image/large-d14364d694d27fa3dccb17b0342b2431.jpg" data-gid="gid://syiq/Photo/393751">Retaining expertise and expanding influenceWith culture identified as the cornerstone of value, retaining Monaco Marine’s team became an immediate strategic priority. <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> worked closely with the existing management team throughout the transition to ensure continuity, leveraging his longstanding relationships across the organisation.The result has been significant team retention – a critical outcome in preserving both operational consistency and client trust. “The nine assets and locations are wonderful, but the technical capability and commitment of the team was the heart of the acquisition,” explains Baxter.&nbsp;Rather than operating independently, the team is now positioned to play an influential role within <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s wider network. Their expertise is informing operational improvements across the group’s US and Caribbean locations, including with sustainability initiatives like <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a>’s innovative approach to waste water management.This shift reflects <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s broader philosophy: growth is not achieved by centralising knowledge alone, but by distributing it across its broad network and encouraging regional leaders to shape its global operations.Establishing a European cornerstoneThe acquisition firmly establishes Monaco Marine as <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s flagship platform in Europe. Beyond its physical presence, it provides the local insight necessary to guide further expansion across the region.The Mediterranean’s position as the world’s most significant yachting market makes this foothold particularly strategic. <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a>’s team now plays a central role in identifying and evaluating future acquisition targets, ensuring that expansion is informed by regional expertise rather than external assumptions.This approach reveals one of <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s core strategies – one that values diverse knowledge as a driver of innovative growth.<img src="https://photo-assets.superyachttimes.com/photo/393752/image/large-b3feb1138e2178b590c702495932782f.jpg" data-gid="gid://syiq/Photo/393752">Creating a seamless transatlantic networkA key objective of the integration is to deliver a unified service experience across both sides of the Atlantic. Even prior to the acquisition, approximately 37 percent of <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s US-based superyacht clients were already utilising <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> facilities during Mediterranean operations. That figure has since increased, reflecting stronger alignment between the two networks.The focus has now moved to ensuring continuity. This extends beyond technical capabilities and refit standards to encompass communication, processes and the overall client experience. Owners, captains and crews will encounter the same level of service and operational consistency across the entire network.Monaco Marine’s active engagement with <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s other operations has been instrumental in this process, with cross-regional collaboration shaping a more cohesive global offering.Enabling greater transatlantic mobilityBy connecting two of the industry’s most active cruising regions, <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> is positioned to facilitate more fluid vessel movement between the United States and the Mediterranean. The company believes that this is a good thing for the yachting community.This enhanced connectivity is expected to increase operational efficiency while encouraging more frequent transatlantic cruising among US-based clients. Central to this ambition is the assurance of reliable, high-quality support throughout a vessel’s journey.In this sense, the acquisition aligns with a broader industry dynamic: as yachts operate across increasingly global itineraries, service networks evolve to match their mobility.Balancing identity and integrationOne of the more visible outcomes of the acquisition is the planned rebranding of <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> under the <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> name. While strategically aligned with the creation of a unified global identity, the decision was not made quickly.“This was not an easy decision and something that took both collaboration and support from the team at <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a>” adds Baxter. “Our goal is to achieve a sense of oneness for owners, captains, builders, OEMs, so that they can expect the same level of service excellence at every <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a> facility.”&nbsp;<a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a>’s brand carries significant heritage within the Mediterranean, and preserving the qualities that underpin that reputation is a priority. For clients, changes will initially be most apparent through branding, signage and on-site identity. However, the overarching aim is for the experience itself to constantly innovate and evolve in favor of the customers.Raising the standard across the industryBeyond its immediate operational impact, the acquisition reflects a broader ambition within <a data-gid="gid://syiq/Company/7074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Safe Harbor Marinas (Company)">Safe Harbor</a>’s strategy. The goal is not solely to expand its own footprint, but to elevate standards across the yachting ecosystem.By connecting regions, sharing expertise and refining service delivery, the group seeks to enhance the experience for owners, captains, crew and industry stakeholders alike.In this context, the integration of <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> represents more than a geographical expansion. It signals a move towards a more connected, consistent and collaborative global yachting landscape – one in which excellence is defined not by location, but by a shared commitment to quality.

Safe Harbor’s Monaco Marine acquisition

We sat down with Baxter and the team at Monaco Marine as they prepared to rebrand the Mediterranean eco-system under the Safe Harbor banner.

Behind the Safe Harbor rebrand of Monaco Marine

The 49.8-metre <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a> superyacht <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> sold in a deal with <a data-gid="gid://syiq/Company/1550" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Marketing (Company)">Marine Marketing</a> introducing the buyer, alongside Nathan Farrelly of <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> and <a data-gid="gid://syiq/Company/4795" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="One Brokerage Australia (Company)">One Brokerage Australia</a>. <img src="https://photo-assets.superyachttimes.com/photo/397051/image/large-5a5dce9decb30e6d016cb98d7fde34c4.jpg" data-gid="gid://syiq/Photo/397051">Delivered in 2018 as part of the <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a> 5000 Semi-Displacement series, <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> features exterior design by <a data-gid="gid://syiq/Company/55" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Omega Architects (Company)">Omega Architects</a>, with interior design penned by <a data-gid="gid://syiq/Company/205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cristiano Gatto Design (Company)">Cristiano Gatto Design</a> and naval architecture by her Dutch builder <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen Yachts</a>.<a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> can comfortably accommodate up to 12 guests across a six stateroom configuration, with her master suite situated on the main deck forward, while her VIP suite, two doubles and two twin staterooms can be found on the lower deck.In terms of performance, <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> is equipped with twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, which propel her to a top speed of 23 knots and a cruising speed of 12 knots. At the time of the sale, <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> had a last known asking price of €28,500,000.&nbsp;

Daisy D: 50m Heesen yacht sold

The 49.8-metre Heesen superyacht Daisy D sold, with a last known asking price of €28,500,000.

50m Heesen superyacht Daisy D sold

The 30.48-metre <a data-gid="gid://syiq/Company/466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hatteras Yachts (Company)">Hatteras</a> motor yacht <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> sold in a deal with Iain Lawrie of <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> introducing the buyer and Michael Zaidan of <a data-gid="gid://syiq/Company/5149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Borden and Associates Yacht Sales (Company)">Borden &amp; Associates Yacht Sales</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/397019/image/large-1adf3cf22ae9625acf3be275898f7595.jpg" data-gid="gid://syiq/Photo/397019">Delivered in 2001, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> features exterior design and naval architecture by <a data-gid="gid://syiq/Company/326" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jack Hargrave (Company)">Jack Hargrave</a>. Spanning 180 GT, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> can comfortably accommodate up to 10 guests across a five stateroom configuration.&nbsp;In terms of performance, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> can reach a top speed of 24 knots and a cruising speed of 18 knots, thanks to twin <a data-gid="gid://syiq/Company/1497" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Detroit Diesel (Company)">Detroit Diesel</a> engines. At the time of her sale, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> had a last known asking price of $1,450,000.(Image courtesy of Merle Wood &amp; Associates.)

Sunday Money: 31m Hatteras yacht sold

The 30.48-metre Hatteras motor yacht Sunday Money sold with a last known asking price of $1,450,000.

31m Hatteras motor yacht Sunday Money sold

Travelling to Sydney, Leona Caanen speaks with Luke Geelan, family man and owner of the&nbsp;<a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>&nbsp;fleet.Growing up with a passion for boating, and especially fishing, is Luke Geelan, Sydney native and owner of the 35.05-metre motor yacht <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>. Having spent most of his life around the water, it seems only natural for Luke to have moved into the world of boating. Overtime the yacht has come to resemble not only a connection to his past, but also to his future, getting to enjoy it with his family and friends, as well as sharing it with charter guests.<img src="https://photo-assets.superyachttimes.com/photo/388213/image/large-0b83e89d1054e69437b37ff303a35921.jpg" data-gid="gid://syiq/Photo/388213">A family passionGrowing up on a river in Sydney, Luke was introduced to the rhythms of tide and weather from an early age. “I’ve grown up with a passion for boating, my father taught me to water ski and sail as a young child” Luke shares. Over time, Luke exchanged sailing for wakeboarding and eventually game-fishing, depending his passion for being out at sea. This passion has remained a constant factor in Luke’s life, deepening even further once he could share it with his own kids.A few years ago, Luke sold his business and decided to step into boating in a more deliberate way by acquiring the 35-metre motor yacht <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>, built by <a data-gid="gid://syiq/Company/554" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyds Ships (Company)">Lloyd Ships</a> in Australia in 1986. Purchasing her in 2024, the yacht allowed for Luke and his family to explore the Australian coast with more comfort, as well as for them to get to share their passion for the sea. “My two boys are especially big on game fishing, and my daughter is very passionate about snorkelling and marine life”, says Luke. By acquiring <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>, it allows for the family to share their passions with one another.<img src="https://photo-assets.superyachttimes.com/photo/396937/image/large-131bb2f788c31defa0822382f533d318.jpg" data-gid="gid://syiq/Photo/396937">A three-part refitAs <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a> is from the 80s, she was in need of an upgrade when Luke purchased her. The refit has been phased and purposeful, with 2024 seeing the first of the three phases. The yacht spent September to November at the <a data-gid="gid://syiq/Company/3255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gold Coast City Marina & Shipyard (Company)">Gold Coast City Marina &amp; Shipyard</a> where the bridge was upgraded, soft furnishings replaced and extensive paintwork completed. <img src="https://photo-assets.superyachttimes.com/photo/388209/image/large-c74eb7958e3e321e611bea0e2d9fee9c.jpg" data-gid="gid://syiq/Photo/388209">The second phase was centred around remodelling the saloon, with new flooring, carpeting and ceilings, as well as mechanical enhancements. Other upgrades included a beach club installation, complete with an inflatable pool, protective netting and a shaded cabana, which has proved particularly popular with charter guests. Possibly the most meaningful addition during this refit have been the zero-speed stabilisers, “my wife suffers from really severe seasickness, the stabilisers are essential in making the yacht comfortable for my family,” Luke shares.<img src="https://photo-assets.superyachttimes.com/photo/388210/image/large-06ec6524534531dc1f3ac942dd743803.jpg" data-gid="gid://syiq/Photo/388210"><a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>’s third and final refit will take place in 2027 and will see an upgrade of the crew quarters. Originally, Luke had hoped to finalise the refit this year, but the yacht’s agenda, both in charter and personal use, is almost fully booked for the calendar year, and Luke wants to ensure there is enough time for the refit: “Our crew is so amazing, I'm super lucky to have what I believe is the best crew.<img src="https://photo-assets.superyachttimes.com/photo/388187/image/large-fde4622fb25e3e416358ace496ed0104.jpg" data-gid="gid://syiq/Photo/388187"><a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>&nbsp;juniorYet the 35-metre motor yacht is only half the story. Six months after acquiring the mothership, Luke secured what he describes as Australia’s leading game fishing platform: a custom-built 17.7-metre (58’0”) Assegai sportfisher. Designed specifically for marlin fishing along the country’s east coast, the yacht is equipped with a gyro stabiliser and, more recently, a Furuno Omni Sonar System capable of scanning 360 degrees around the vessel to significant depths, providing a technological edge in a pursuit that still relies on instinct and patience.<img src="https://photo-assets.superyachttimes.com/photo/396954/image/large-96857bf8151cfcd655d86dc3d061d704.png" data-gid="gid://syiq/Photo/396954">The reason for acquiring the fishing vessel to cruise alongside the mothership are his sons. Luke shares that “my sons and I have been game fishing together for the last five years or so,” and have even partaken in various competitions in- and around Sydney. “We’ve won a couple of state titles and other competitions,” a hint of pride sits in Luke’s voice. “My children in particular, have a passion for fishing, and I've just shared that passion, and supported it”, he adds.Lukes really enjoys fishing with his family and friends, on a recent trip to the Great Barrier Reef, the Shore Thing 58' landed a 1,223 pound Black Marlin. Yet Luke is quick to note that they’re conscious about the way they fish. “We only catch what we eat; everything else goes right back in the ocean. We’re not hunters, we just fish for the joy of it.”<img src="https://photo-assets.superyachttimes.com/photo/388186/image/large-a98a34adf0095495d9e5f32f36eb458e.jpg" data-gid="gid://syiq/Photo/388186">The joy of cruisingSome of Luke’s most cherished moments onboard are those with friends and family. “We hosted my 50th birthday onboard,” Luke shares, having chartered the yacht to Whitehaven Beach, located in the Whitsundays, “there were about 40 guests, all friends and family.”&nbsp;Possibly Luke’s favourite memory is the recent Christmas holiday onboard. “Spending time with our family and another family, sitting around and just having deep belly laughs over some beautifully cooked meals by our chef onboard.” Luke describes this as delightful and quite possibly one of the most memorable times onboard. “Your kids grow up so quick, getting to share such a beautiful time together and feeling like, as your kids become young adults, that you can really share laughs and stories. It was just special.”<img src="https://photo-assets.superyachttimes.com/photo/396938/image/large-04bc34860fd9bc9b421321a8d9f42e09.jpg" data-gid="gid://syiq/Photo/396938">The beauty of being on a boat is that it ties everyone together, whether that is his own family and friends, or guests who charter the yacht, for Luke, the joy of owning <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a> lies in “getting to share the joy with other people.”The yacht and her fishing counterpart offer not just a sense of luxury, but a space for guests to create memories and experience the beauty of the Australian coastline as they cruise <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a> between the Great Barrier Reef, the Whitsundays and the Sydney Harbour.<img src="https://photo-assets.superyachttimes.com/photo/388177/image/large-2991a957e2fdb4ef0038789921600aa2.jpg" data-gid="gid://syiq/Photo/388177">

Owning the shore thing fleet 

A look inside Luke Geelan's charter fleet: his 35m Shore Thing and the 58' sport fisher chartering around Sydney.

"The joy of owning Shore Thing is getting to share it with others"

<a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom Yacht Equipment</a>&nbsp;has earned a prominent position in the superyacht supply chain for its bespoke boarding equipment, platforms, cranes, watertight doors and integrated control systems. Yet the engineering philosophy behind its custom-designed solutions is based on a resolutely modular approach.When Mervyn van der Ploeg was appointed managing director of <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom Yacht Equipment</a> in 2015, the company was going through a bad patch. It routinely redesigned everything from scratch for each new yacht project, leading to prototype-level inefficiencies and financial strain. A small but telling example is that it used to produce 32 different types of locking pins. Today, through a process of standardisation and modularisation, that number has been reduced to just two sizes.<img src="https://photo-assets.superyachttimes.com/photo/396743/image/large-c20dda6c39f046eea94eaa71057b9e2c.jpg" data-gid="gid://syiq/Photo/396743">“Previously, when designing a platform for a yacht, four different locking pins might have been specified, requiring multiple suppliers,” explains van der Ploeg. “Now, we buy 200 locking pins per year in two sizes from a single supplier at half the cost.”The process began by redesigning a prototype passerelle from scratch using a fully modular approach, which then became a template for other equipment. While remaining a supplier of custom equipment, modular components are now reused across <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s product range, reducing design complexity and streamlining production.“A key technical insight came from looking outside the yachting industry,” continues van der Ploeg. “For example, swivel joints originally designed for excavators have been incorporated into our gangways. These components are proven, industrial-grade and standardised, which means we can build highly reliable systems without reinventing core mechanisms.”In the ten years since van der Ploeg joined the company, turnover has more than doubled from €12 million to €25 million, driven by increased efficiency along with larger yachts and a rising demand for integrated equipment.<img src="https://photo-assets.superyachttimes.com/photo/396739/image/large-d48d0f06ceeb5a00cfda9bafe1c96878.jpg" data-gid="gid://syiq/Photo/396739">Make it modularThe spin-off from <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s modular way of thinking are innovations designed to maximise open space while eliminating visual clutter. Many of these solutions revolve around relocating drive systems into hinge lines and the platform structures themselves. In one recent project, a large side platform was initially conceived as two separate elements with a manually installed infill piece. While technically feasible, it was operationally awkward. Instead, by introducing an internal hinge drive already proven elsewhere, the entire system was re-engineered as a single monolithic platform. The infill was eliminated, deployment became faster, crew workload was reduced, and the geometry became cleaner.<img src="https://photo-assets.superyachttimes.com/photo/396744/image/large-4feaec6057dc57f70fe27a2f2a88296b.jpg" data-gid="gid://syiq/Photo/396744">The Sliding Stairs Access Hatch is another example. Developed in response to a request to optimise the passage from the main deck to the beach platform on <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship’s</a> 79.5-metre <a data-gid="gid://syiq/Yacht/11677" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Valor79.5m (260'10&quot;)Feadship2025">Valor</a>, <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s engineers merged door, hatch and boarding equipment components to create a completely new solution. Essentially, the staircases on each side of the pool form the hatch itself, with half of each staircase retracting into the deckhead like a gangway to provide access to the beach club.<img src="https://photo-assets.superyachttimes.com/photo/396742/image/large-bd76338bca2c0e5436acede35e416f93.jpg" data-gid="gid://syiq/Photo/396742">“This marked a next step in modular engineering for <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>,” says van der Ploeg. “Our approach not only accelerated the development process, but also showed how modularity enables flexible, cross-disciplinary solutions without compromising quality.”As both staircases form part of the watertight boundary of the vessel certified by Class, one of the main challenges was ensuring watertight integrity, given the angle at which the stair hatches are installed, as well as aligning the treads between the hatches and the fixed structures. In fact, sealing has become a central issue as stern structures grow more complex – folding, rotating and closing at compound angles. While inflatable seals are often the go-to solution and offer excellent theoretical performance, they also represent a single point of failure. <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> typically prefers D-profile rubber seals, which wear gradually, remain locally manageable, and allow temporary mitigation.<img src="https://photo-assets.superyachttimes.com/photo/396741/image/large-cf52ffb86158af5f4ac7a5922058d9b5.jpg" data-gid="gid://syiq/Photo/396741">“This approach is especially critical for Lloyd’s-certified watertight items such as split transom doors closing at different angles, where corners and junctions between curved surfaces become critical failure points,” van der Ploeg points out.Such solutions highlight how <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> has evolved beyond developing hardware to innovating the onboard experience, a strategy that has resulted in multiple patented solutions, from pop-up gangways embedded in the stern platform to protective cabrio covers engineered to fold, stack or nest completely out of sight when not in use. At the last edition of <a data-gid="gid://syiq/Company/4374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Metstrade (Company)">Metstrade</a>, the company presented five interactive aft deck models through immersive 3D visualisations showcasing how engineering, design and user experience increasingly converge in the early phases of yacht development.<img src="https://photo-assets.superyachttimes.com/photo/396745/image/large-b406b1bef2a73b0811b05344a273be7e.jpg" data-gid="gid://syiq/Photo/396745">Under controlAnother defining feature of <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s approach is that its control systems and programming are all developed in-house. Precise timing between electronic commands, hydraulic oil flow and mechanical motion is critical, as are programmed delays that account for inertia and mass. Most systems employ frequency-driven power packs rather than simple on/off hydraulics, resulting in smoother movement, lower noise levels and the elimination of hydraulic ‘hammer’ effects. Automated operating cycles manage sequencing, speed and end-of-stroke deceleration automatically, reducing the risk of impact damage and operator error. Before delivery, full functional testing is carried out in-house, often with owner representatives present.Enclosed helicopter lifts represent some of the most complex control systems <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> has delivered. On yachts such as the 85.95-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea85.95m (281'12&quot;)Feadship2004">Ecstasea</a>, the 96.6-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/5936" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sophia96.6m (316'11&quot;)Feadship2017">Sophia</a> (ex-Faith), 99-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/2074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Madame Gu99.0m (324'10&quot;)Feadship2013">Madame Gu</a> and the 102.6-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/10678" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ulysses102.6m (336'7&quot;)Feadship2024">Ulysses</a>, these lift assemblies rely on synchronised spindles and highly precise control algorithms to ensure uniform vertical motion. Ironically, real-world usage of helicopter lifts has revealed an interesting pattern:&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/396746/image/large-793a08021cda2fc7bab19c3cd8f1a821.jpeg" data-gid="gid://syiq/Photo/396746">“On some yachts, the heli hangars are no longer actively used and instead function as static storage platforms,” reveals van der Ploeg. “In such cases, owners may even suspend servicing altogether – an illustration of how operational reality can diverge from original design intent.”Developments in control systems are being matched by advances in data intelligence. During the COVID period, <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> expanded its remote-support capabilities and identified a recurring issue: when faults occur, crews often cannot describe what happened beyond “pressing the button”. To address this, its latest systems incorporate data logging that records each operating cycle, sequence order, timing, load condition and fault event with precise timestamps.“When an issue arises, engineers can trace it back to the exact operating condition that caused it,” explains van der Ploeg. “While still being rolled out primarily on new-build projects, data logging represents a shift towards evidence-based rather than purely scheduled maintenance.”Across <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s predominantly hydraulic product range, failures rarely originate in the actuators themselves. Instead, the most vulnerable areas are where forces converge – locations where multiple loads are transferred into a single structural interface. Passerelles are a prime example:“Forces are transmitted through long, slender structures back to a limited number of mounting points,” explains van der Ploeg. “When additional functionality is introduced, such as lateral slewing rather than straight-line deployment, those forces increase substantially.”<img src="https://photo-assets.superyachttimes.com/photo/396750/image/large-74a75f9786460908e4bf98d749448420.png" data-gid="gid://syiq/Photo/396750">Bonding and bolt-inSome <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> passerelles now extend up to 16-metres in length, pushing the limits of lightweight structural engineering while maintaining stiffness, safety margins and regulatory compliance. Designing these interfaces requires careful attention to geometry, material thickness and fatigue behaviour.Marine-grade aluminium remains the primary structural material, selected for its high strength-to-weight ratio and corrosion resistance. Steel is used selectively in high-load interfaces where stiffness and wear resistance are critical. Carbon fibre has also been deployed strategically, particularly in the outermost sections of passerelles. Reducing mass at the extremity lowers bending moments throughout the structure, enabling greater reach without adding reinforcements.&nbsp;A more recent addition to <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s fabrication methodology is the introduction of structural adhesive bonding. In lightweight aluminium constructions, particularly passerelles, welding thin sections sometimes caused unacceptable deformation due to heat input. To address this, <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> now uses a hybrid method: components are positioned with bolts to prevent movement, while the structural adhesive provides the primary load-bearing bond. In this configuration, the bolts act purely as locators and the adhesive carries the load.Another key evolution is the move towards bolt-in housings for boarding equipment such as passerelles and swim ladders. Historically, these housings were built directly into the hull, placing installation and testing squarely on the shipyard’s critical path. This new approach uses self-contained housings that are assembled and factory-tested in-house, accepted by owners or representatives, and installed later as plug-and-play units.“Once delivered, the housing is bolted into place, hydraulics and electrics are connected, and functionality is assured – eliminating the risk of delays, rework and repainting,” says van der Ploeg.<img src="https://photo-assets.superyachttimes.com/photo/396752/image/large-1ea3884318d73cd6441f8d9cf8801f9c.jpg" data-gid="gid://syiq/Photo/396752">Breaking outSolely owned by <a data-gid="gid://syiq/Company/4951" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Koninklijke De Vries Scheepsbouw (Company)">Koninklijke De Vries,</a> until recently <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> worked exclusively within <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a>. It is now pursuing a more open strategy, with roughly 60% of turnover derived from <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> new-build projects, 25% from service and refit work on existing <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadships</a>, and the rest from other shipyards – a share that continues to grow as the company expands its marketing network.An early major non-<a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> contract was with <a data-gid="gid://syiq/Company/4644" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AKYACHT (Company)">AKYACHT</a> in Turkey for its 120-metre-plus project (NB012) due for delivery in 2030. Another is the new <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA</a> Custom 80 currently under construction at <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA Yachts</a> in Ancona. The <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA</a> client, an experienced <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> charterer, specified <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> to supply the boarding systems with which he directly interacts – in total, five independent mechanical systems with fully integrated control logic.<img src="https://photo-assets.superyachttimes.com/photo/396754/image/large-0eae94a6e941a08764d18f82632bee1f.jpg" data-gid="gid://syiq/Photo/396754">Across all these developments, a clear evolution emerges. <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> has progressed from boatbuilder to specialist supplier, system integrator and, ultimately, lifestyle collaborator. Each project begins by asking what experience the owner, designer or shipyard wants to achieve. From there, complexity is carefully analysed and engineered so that systems are notable precisely for their absence – seeming to disappear once installed, leaving spaces that feel more open, intuitive and fully resolved.<img src="https://photo-assets.superyachttimes.com/photo/396753/image/large-24074ca4b4f597fe6f6d7ba61d16b96a.jpg" data-gid="gid://syiq/Photo/396753">

Standardising the bespoke: The engineering behind custom superyacht equipment

Akerboom Yacht Equipment explains how modular engineering is reshaping its custom superyacht boarding systems, platforms, cranes and control systems.

The fourth 53.25-metre <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> YS53 yacht support <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> has been delivered to her owner, following her launch in March 2026 from the <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> facility in Antalya, Turkey. <img src="https://photo-assets.superyachttimes.com/photo/397013/image/large-c33b6dbec1e5da99757b484375d47d5b.jpg" data-gid="gid://syiq/Photo/397013">Designed to operate either alongside a mothership or independently, <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> has been crafted in-house by her builder <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>, which were responsible for her interior, exterior and naval architecture.&nbsp;Created around family experiences, shared moments on the water and operational purpose <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> will now serve as a purposeful extension of her owner's fleet, where she has been developed to provide additional space, support and flexibility.<img src="https://photo-assets.superyachttimes.com/photo/397012/image/large-e7a8adfa9276e3affbe8d0454cf3c3d4.jpg" data-gid="gid://syiq/Photo/397012">"From the outset, &nbsp;there was a clear vision for how the owner wanted to use YS53 <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> and the role she would play within the fleet," explained Rob Dolling, Owner’s Representative. "Together with Damen Yachting, we were able to translate those wishes into a vessel that is highly functional, personal and closely aligned with the owner’s programme."<a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> can comfortably accommodate up to eight guests, as well as 10 crew plus her captain. Her interior reflects the owner’s personal style, combining timeless elegance with Old English influences throughout. <img src="https://photo-assets.superyachttimes.com/photo/397011/image/large-c5c4c4fd9fd1617d2fa194c1f00b061d.jpg" data-gid="gid://syiq/Photo/397011"><a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> boasts the brand’s signature axe bow, while her reinforced deck supports touch-and-go helicopter operations. With a generous open main deck of more than 200 square-metres, this versatile space can be used for large tenders, toys and specialised equipment.This is complemented by a 15-tonne crane, enabling the handling of substantial tenders and heavy loads. With a volume just shy of 500 GT, she can accommodate up to eight guests, along with a crew of eight.<img src="https://photo-assets.superyachttimes.com/photo/397010/image/large-d904abeb9d80368dab56f223768c6958.jpg" data-gid="gid://syiq/Photo/397010">"As the fourth Yacht Support 53 delivered by <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>, she reflects the versatility of the Yacht Support range within modern superyacht ownership and has been created with a very clear purpose," concluded Jan van Hogerwou, Commercial Executive USA.Crafted with a steel hull and aluminium superstructure, <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</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, which provide her with a cruising speed of 12 knots and a top speed of 19 knots. Once her sea trials are complete, <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> will prepare for delivery to her owner. &nbsp;

Rafter: Fourth Damen Yachting YS53 yacht on sea trials

The fourth 53.25-metre Damen Yachting YS53 yacht support Rafter has been delivered following her launch in Antalya, Turkey in March 2026.

Fourth Damen Yachting YS53 yacht support Rafter delivered

<a data-gid="gid://syiq/Company/895" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lusben Shipyard (Company)">Lusben</a> has completed the refit of the 37-metre <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> Classic 120 yacht <a data-gid="gid://syiq/Yacht/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kos37.5m (123'0&quot;)Benetti SpA2009">Kos</a>, following a comprehensive programme of works spanning structural modifications, onboard systems, technical upgrades, exterior areas and interiors. <img src="https://photo-assets.superyachttimes.com/photo/396976/image/large-40153e77114e1432e88b74a33b05ac53.jpg" data-gid="gid://syiq/Photo/396976">Built in 2009 by <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a>, <a data-gid="gid://syiq/Yacht/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kos37.5m (123'0&quot;)Benetti SpA2009">Kos</a> forms part of its Classic 37 series, featuring exterior design by <a data-gid="gid://syiq/Company/254" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Stefano Righini Design (Company)">Stefano Righini Design</a>, interiors by <a data-gid="gid://syiq/Company/67" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuretti Interior Design (Company)">Zuretti Interior Design</a> and naval architecture developed in-house by her builder.The refit of <a data-gid="gid://syiq/Yacht/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kos37.5m (123'0&quot;)Benetti SpA2009">Kos</a> commenced in August 2025 shortly after the yacht was acquired by her new owner and was completed in approximately six months through the coordinated efforts of <a data-gid="gid://syiq/Company/895" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lusben Shipyard (Company)">Lusben</a>'s project management team, specialised technicians, skilled craftsmen and interior designer Laura Rossi. According to <a data-gid="gid://syiq/Company/895" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lusben Shipyard (Company)">Lusben</a>, the programme was undertaken with the aim of improving operational efficiency, enhancing the onboard experience and extending the yacht's service life.<img src="https://photo-assets.superyachttimes.com/photo/397008/image/large-c77ef9362600c70fc7acbd85faee16f2.jpg" data-gid="gid://syiq/Photo/397008">From the outset, the owner and project team sought to preserve the yacht's original layout and distinctive character while improving her functionality, comfort and the perception of space. On the main deck, the refit scope included the installation of new full-height windows in her main saloon alongside the reconfiguration of the staircase area between the main and upper decks.<img src="https://photo-assets.superyachttimes.com/photo/397007/image/large-91d720dd0c041da15a467ac85b61b3da.jpg" data-gid="gid://syiq/Photo/397007">Laura Rossi oversaw the interior redesign, introducing what <a data-gid="gid://syiq/Company/895" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lusben Shipyard (Company)">Lusben</a> described as "greater fluidity, brightness and visual continuity." A new transparent balustrade around the staircase would allow natural light to flow between decks, while satin-finish glass panels replaced selected opaque surfaces in the corridors. New fabrics and materials were also integrated throughout the guest accommodations to enhance comfort, durability and ease of maintenance.<img src="https://photo-assets.superyachttimes.com/photo/397009/image/large-f3728f4818fd2bd0f7063bd374fc9a4e.png" data-gid="gid://syiq/Photo/397009">"<a data-gid="gid://syiq/Yacht/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kos37.5m (123'0&quot;)Benetti SpA2009">Kos</a> does not deny what she has been, nor does she try to become something else," commented Rossi. "The project was conceived to lighten, simplify and enhance the yacht's original identity, creating spaces that are brighter, more fluid and more natural to experience every day."<img src="https://photo-assets.superyachttimes.com/photo/397006/image/large-04998d04550196299f04c73e269ea5f1.jpg" data-gid="gid://syiq/Photo/397006">In addition to the living areas, <a data-gid="gid://syiq/Company/895" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lusben Shipyard (Company)">Lusben</a> carried out a myriad of technical upgrades involving the main engines, generators and essential onboard systems. The entire lighting system was replaced with energy-efficient LEDs, while the bridge and onboard electronics were updated to make them easier to use and improve navigation safety. Exterior works included restoring the teak decks, reconfiguring the sundeck after removing the existing Jacuzzi and completely repainting the hull and superstructure.&nbsp;

Lusben completes refit of 37m Benetti yacht Kos

Lusben has completed an extensive refit of the 37m Benetti Classic yacht Kos.

37m Benetti yacht Kos completes extensive refit at Lusben

The 25.75-metre <a data-gid="gid://syiq/Company/130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moonen Yachts (Company)">Moonen</a> motor yacht <a data-gid="gid://syiq/Yacht/7631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moon River 25.75m (84'6&quot;)Moonen Yachts2003">Moon River</a> sold in a deal with David Legrand of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a> introducing the buyer and Derk Jan Rolff of <a data-gid="gid://syiq/Company/5652" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Holland Yacht Connection (Company)">Holland Yacht Connection</a> representing the seller. <img src="https://photo-assets.superyachttimes.com/photo/346966/image/large-acba5ebb2d4596b138324b59ae61deb9.png" data-gid="gid://syiq/Photo/346966">Delivered in 2003 as part of the Moonen 84 series, <a data-gid="gid://syiq/Yacht/7631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moon River 25.75m (84'6&quot;)Moonen Yachts2003">Moon River</a> features exterior design by <a data-gid="gid://syiq/Company/240" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marimecs BV (Company)">Marimecs</a>, interior design penned in-house by <a data-gid="gid://syiq/Company/130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moonen Yachts (Company)">Moonen Yachts</a> and naval architecture by <a data-gid="gid://syiq/Company/241" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="René van der Velden Yacht Design (Company)">René van der Velden Yacht Design</a>.Spanning 115 GT, <a data-gid="gid://syiq/Yacht/7631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moon River 25.75m (84'6&quot;)Moonen Yachts2003">Moon River</a> can comfortably accommodate up to eight guests across a four stateroom configuration on the lower deck, with her full-beam master suite situated amidships, alongside a VIP at her bow and two twin staterooms.&nbsp;In terms of performance, <a data-gid="gid://syiq/Yacht/7631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moon River 25.75m (84'6&quot;)Moonen Yachts2003">Moon River</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, which provide her with a top speed of 12 knots and a cruising speed of 11 knots. At the time of her sale, <a data-gid="gid://syiq/Yacht/7631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moon River 25.75m (84'6&quot;)Moonen Yachts2003">Moon River</a> had a last known asking price of €2,200,000.&nbsp;(Image courtesy of Holland Yacht Connection.)

Moon River: 26m Moonen yacht sold

The 25.75-metre Moonen motor yacht Moon River sold with a last known asking price of €2,200,000.

26m Moonen motor yacht Moon River sold

As contemporary superyacht design continues to prioritise light, openness and seamless connections to the sea, glass has evolved from a purely functional element into a defining aesthetic feature and, with the use of significantly larger glass panels, has become an essential structural component. Expansive glazing now shapes not only the visual identity of a yacht but also its engineering framework, requiring a far more integrated and technically rigorous approach.For German specialist <a data-gid="gid://syiq/Company/3829" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TILSE Glass (Company)">TILSE</a>, this shift represents both an opportunity and a responsibility – to ensure that increasingly ambitious designs are matched by uncompromising structural integrity, durability and precision.<img src="https://photo-assets.superyachttimes.com/photo/293944/image/large-ecdb75ea245212d313561b3fadf7f87c.jpg" data-gid="gid://syiq/Photo/293944">Integrating glass from the concept stageLarger glass surfaces have fundamentally changed how glazing is approached in yacht construction. No longer a late-stage addition, glass must be embedded into the superstructure concept from the earliest design phases, with engineers analysing how forces move through the pane, adhesive bond and surrounding structure.Unlike static architectural environments, yachts operate under continuous dynamic loads, with hull flex, vibration and thermal variation all influencing performance. Safety margins must therefore reflect real marine conditions, while thickness, laminate composition, bonding strategy, edge detailing and installation methodology all need to be considered from the outset.Early collaboration is essential. By working with designers and naval architects at the concept stage, <a data-gid="gid://syiq/Company/3829" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TILSE Glass (Company)">TILSE</a> helps ensure that visual ambitions are achievable without compromising technical feasibility, long-term serviceability or structural integrity. This proactive approach allows glazing to do more than fit within a design – it helps shape the structural logic of the vessel, balancing elegance with engineering robustness.<img src="https://photo-assets.superyachttimes.com/photo/286853/image/large-74c88213b1c3eba82cf06fc659c13e71.jpg" data-gid="gid://syiq/Photo/286853">Bonding as a safety-critical interfaceOne of the most significant technical challenges is bonding glass – which is inherently brittle – to aluminium or steel structures that move, flex and expand differently under load and temperature change. The adhesive joint must do more than hold the panel in place: it must accommodate movement, transfer loads safely and maintain integrity under UV exposure, salt, humidity and vibration.“The real challenge is not only the glass pane itself, but the interface between glass and a structure that is constantly moving at sea.”As panel sizes increase, this interface becomes even more critical, since minor mismatches in movement, geometry or application can have amplified consequences. Bond thickness, surface preparation, laminate compatibility and UV protection must therefore be precisely controlled. In superyacht glazing, adhesive design is not a detail – it is part of the safety concept, and a well-engineered bond line underpins both structural integrity and long-term durability.Simulation and real-world performanceFinite Element analysis helps validate glass performance, particularly in complex or non-standard applications, by modelling the interaction between glass, adhesive and supporting structure under realistic marine loads. This allows engineers to identify stress points, optimise designs and support conditions, and mitigate deflection risks early in the project lifecycle.Unlike building façades, yacht structures are subject to continuous movement, making accurate modelling essential. Long-term factors such as moisture ingress, ageing and laminate degradation must also be assessed, as they can directly affect load-bearing capacity.As glass panels grow in size, tolerances become increasingly critical. Millimetre-level deviations in shaping or installation can influence load distribution and compromise both structural performance and visual alignment. Handling and installation of large panes have therefore become technical operations in their own right, requiring precise three-dimensional measurement and meticulous execution.<img src="https://photo-assets.superyachttimes.com/photo/333152/image/large-73662ca86854e3909e622abf8863c6a4.jpg" data-gid="gid://syiq/Photo/333152">Ensuring long-term laminate integrityLong-term durability begins with material selection. Because traditional PVB interlayers, which are widely used, can be vulnerable to humidity and temperature fluctuations, <a data-gid="gid://syiq/Company/3829" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TILSE Glass (Company)">TILSE</a> uses a specially developed resin interlayer designed for enhanced moisture resistance at sea, thereby preventing delamination.Chemical toughening further improves optical clarity, reduces distortion and avoids the anisotropy often associated with thermally toughened glass. Strict quality control from raw material selection to lamination, sealing and final inspection ensures each pane meets superyacht standards.Consistency in bespoke productionFor bespoke glazing, consistency depends on rigorous process control across the entire project chain, from early consultation and three-dimensional measurement through to production and installation. <a data-gid="gid://syiq/Company/3829" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TILSE Glass (Company)">TILSE</a>’s integrated approach reduces variability and ensures consistency across the entire project chain, even when each pane is uniquely specified.Combined with stringent inspection protocols and a commitment to rejecting substandard components, this enables the delivery of reliable, high-performance glazing systems.Engineering next-generation glazingLooking ahead, the trajectory of superyacht design points towards even larger, clearer and more seamlessly integrated glass surfaces. However, the next phase of innovation will be defined not by scale alone, but by the ability to balance ambition with practicality. Manufacturability, optical quality, structural safety, durability and ease of replacement will all play an increasingly important role in shaping future designs.As glass cements its position as a defining element of modern yacht design, its successful application depends on far more than aesthetics. Structural integration, bonding expertise, advanced simulation and uncompromising material quality must come together from the very beginning.In response, <a data-gid="gid://syiq/Company/3829" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TILSE Glass (Company)">TILSE</a> continues to invest in expanded production capacity, advanced handling capabilities and earlier involvement in complex projects – helping today’s most ambitious glazing concepts to be realised safely, durably and with the clarity expected of the next generation of superyachts.

Tilse yacht glass in design

Larger glass surfaces have fundamentally changed how glazing is approached in yacht construction. 

Engineering transparency: The evolving role of glass in superyacht design

<img src="https://photo-assets.superyachttimes.com/photo/396837/image/large-d8ba973efacc6a431309d036f5b1a3df.jpg" data-gid="gid://syiq/Photo/396837">The 95-metre <a data-gid="gid://syiq/Company/778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Yachts Ltd. (Company)">Golden Yachts</a> superyacht <a data-gid="gid://syiq/Yacht/7237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Pari95.0m (311'8&quot;)Golden Yachts Ltd.2020">O’Pari&nbsp;</a>was recently seen anchored in Athens, Greece, ahead of Posidonia 2026. Several other superyachts, including the 60.98-metre <a data-gid="gid://syiq/Yacht/13282" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Madeleine60.98m (200'1&quot;)Golden Yachts Ltd.2025">O'Madeleine</a>, were also spotted in the area during the international shipping exhibition, which took place from 1 to 5 June.Delivered in 2020, <a data-gid="gid://syiq/Yacht/7237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Pari95.0m (311'8&quot;)Golden Yachts Ltd.2020">O’Pari&nbsp;</a>remains the largest yacht built by the Greek shipyard to date. She forms part of a fleet of distinctive <a data-gid="gid://syiq/Company/778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Yachts Ltd. (Company)">Golden Yachts</a> projects, alongside notable vessels such as the 87.6-metre <a data-gid="gid://syiq/Yacht/2354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Project X87.6m (287'5&quot;)Golden Yachts Ltd.2022">Project X</a> and the 77.7-metre <a data-gid="gid://syiq/Yacht/11076" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Malia77.7m (254'11&quot;)Golden Yachts Ltd.2023">Malia</a>, which was launched in 2023.Her exterior and interior design were penned by <a data-gid="gid://syiq/Company/76" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Studio Vafiadis (Company)">Studio Vafiadis</a>. Spanning 2,700 GT, <a data-gid="gid://syiq/Yacht/7237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Pari95.0m (311'8&quot;)Golden Yachts Ltd.2020">O’Pari</a> offers a range of standout amenities, including a touch-and-go helipad positioned on the forward upper deck, an expansive sundeck complete with a DJ booth, bar and Jacuzzi, and a dedicated wellness area featuring a massage room, Turkish hammam and Finnish sauna.Accommodation is provided for guests across a collection of marble- and mosaic-clad staterooms, comprising nine double cabins and four twin cabins.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, <a data-gid="gid://syiq/Yacht/7237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Pari95.0m (311'8&quot;)Golden Yachts Ltd.2020">O’Pari</a> cruises comfortably at 16 knots and can reach a top speed of 20 knots. She is currently en route to Split, Croatia, according to AIS Data.

Golden Yachts yacht O’Pari in Athens

The 95-metre Golden Yachts superyacht O’Pari was recently seen anchored in Athens, Greece.

95m Golden Yachts superyacht O’Pari in Athens

Onboard Numarine's 40MXP video

We stepped aboard Mitan, the latest Numarine 40MXP in Palm Beach.

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Video: Step aboard Numarine's new flagship, the 40MXP Mitan

<a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> and <a data-gid="gid://syiq/Company/6122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="DryDocks World (Company)">Drydocks World</a> Dubai have joined forces and taken over the Bijela Shipyard, located at the Kotor Bay in Montenegro. The shipyard has since been renamed Adriatic 42 and is on course to becoming a leading site for superyacht refit and maintenance appointments.<img src="https://photo-assets.superyachttimes.com/photo/216103/image/large-f95bfd666f559b0a99f07aac25719b1a.jpg" data-gid="gid://syiq/Photo/216103">Paul John Gray has been appointed Executive Director of Adriatic 42, and will spearhead the plans to implement a new infrastructure and to upgrade the facilities of the former Bijela Shipyard. Adriatic Marines has pledged €20,000,000 for the work, which will be invested over a three year period.<img src="https://photo-assets.superyachttimes.com/photo/216102/image/large-00f915cdce40fa24b8bcbc8e95464444.jpg" data-gid="gid://syiq/Photo/216102"><img src="https://photo-assets.superyachttimes.com/photo/216099/image/large-48146f15b159eb75eb3e33e831355008.jpg" data-gid="gid://syiq/Photo/216099">“Currently, we are completing all mandatory investigations, analysis and assessments to ensure that our development not only complies with all permit requirements, but is sustainable and environmentally friendly,” Paul John Gray commented. “As part of the DP World Group, we are committed to reducing harmful emissions and will do this through the smart use of alternative energy sources and new, more energy-efficient equipment.”<img src="https://photo-assets.superyachttimes.com/photo/216101/image/large-7d54486df3d33144beceda634e033b4e.jpg" data-gid="gid://syiq/Photo/216101">&nbsp;It has been announced that once this assessment stage is complete, the next phase will entail the testing of all existing infrastructure, integrity analysis and work conducted on the anchor points of the floating dock. Construction will also commence for a new Travel Hoist jetty, as well as refurbishment work on the current superstructure and South Jetty.<img src="https://photo-assets.superyachttimes.com/photo/216100/image/large-99a755d4e4a4400e759ab38bf1357e31.jpg" data-gid="gid://syiq/Photo/216100">&nbsp;

Porto Montenegro and Drydocks World Dubai move forward with Adriatic 42

Porto Montenegro and Drydocks World Dubai have joined forces and taken over the Bijela Shipyard, which is now called Adriatic 42.

Porto Montenegro and Drydocks World on course to turn Bijela Shipyard into a leading superyacht refit centre

<a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> is only 40 percent complete – and yet it already offers 460 superyacht berths, a five-star Regent <a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a>, over 300 apartments, and a cluster of fashion boutiques and dining experiences. The site is world-class and generous in size, but over the next 10-years it will slowly expand into five neighbourhoods, close to doubling its capacity. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/228693/image/large-70fdbcab99720d354c4d416f4cd500b4.jpg" data-gid="gid://syiq/Photo/228693">The aim for <a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> is to position itself as “the premium yachting hub” in the Mediterranean, boasting “five dynamic and distinctive, yet interconnected neighbourhoods.” Across these five sites, <a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> will be able to offer 850 berths, 315 of which will be reserved for superyachts and designed to cater for their specific needs. <img src="https://photo-assets.superyachttimes.com/photo/228694/image/large-7a5b269a705a96c61c162b5ff5add4ee.jpg" data-gid="gid://syiq/Photo/228694">“Our vision is to complete <a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> as the premier boating and superyachting hub in the Mediterranean and to reinvent waterfront living with a diverse collection of eclectic but integrated neighbourhoods,” David Margason, Managing Director at <a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a>, said. Which will be introduced over the lifetime of the masterplan according to the prevailing markets, and which harmoniously fuse together to create a place of discovery, and creative and adventurous fulfilment.”<img src="https://photo-assets.superyachttimes.com/photo/228688/image/large-18029f690895eda3cb7e72d52347ba20.jpg" data-gid="gid://syiq/Photo/228688"><img src="https://photo-assets.superyachttimes.com/photo/228687/image/large-df35cf39138443a33f60e28e864d14e7.jpg" data-gid="gid://syiq/Photo/228687">Read:&nbsp;<a data-gid="gid://syiq/Article/54624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="In conversation: Tony Browne, Porto Montenegro Marina Director (2022-02-21 14:00:00 +0100)">In conversation: Tony Browne, Porto Montenegro Marina Director</a>“<a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> is a year-round destination designed for modern lifestyles supporting a balance of live work and play. With more than 40 nationalities, <a data-gid="gid://syiq/Company/1857" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro (Company)">Porto Montenegro</a> is a global community, where people are united in their curiosity for the unexpected and their insatiable desire for the extraordinary,” Margason continued.<img src="https://photo-assets.superyachttimes.com/photo/228685/image/large-973624b26abb0cb08bb23b955b0aea08.jpg" data-gid="gid://syiq/Photo/228685">Read:&nbsp;<a data-gid="gid://syiq/Article/54454" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Montenegro and Drydocks World on course to turn Bijela Shipyard into a leading superyacht refit centre (2022-01-20 12:30:00 +0100)">Porto Montenegro and DryDocks World &nbsp;to turn Bijela Shipyard into a superyacht refit centre</a>There are also plans to introduce a new shipyard, called Adriatic 42, which is being spearheaded in a joint venture with <a data-gid="gid://syiq/Company/6122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="DryDocks World (Company)">DryDocks World</a>. Located at the old Bijela site, conveniently just a mile and half from the marina village, will offer superyacht refit, repair, overhaul and maintenance work.&nbsp;

Porto Montenegro announces major expansion plans

Over the next 10-years Porto Montenegro will slowly expand into five neighbourhoods, and close to double its capacity. 