British yacht builder <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> has entered administration, just two months after its <a data-gid="gid://syiq/Article/62169" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts acquired by Arrowbolt Propulsion Systems (2024-12-06 11:00:00 +0100)">acquisition by Arrowbolt Propulsion Systems Limited</a>. The Northamptonshire-based shipyard, which employs approximately 250 staff, is now under the control of Alvarez &amp; Marsal (A&amp;M), following an insolvency process triggered by its primary lender, DF Capital.<img src="https://photo-assets.superyachttimes.com/photo/340218/image/large-3f75700eebc1f3959c5bcc14c5dc8614.jpg" data-gid="gid://syiq/Photo/340218">The company’s administrators confirmed that <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> continues to trade and no redundancies have been made. Michael Magnay, joint administrator, told Sky News: “We are thankful for the support and understanding of staff and there are no redundancies at this time. We are actively pursuing a sale of the business and are confident of a substantial amount of interest given the recognised brand and strong heritage.”The administrators are now seeking potential buyers to secure the future of the business, which is renowned for its range of yachts measuring between 10 and 20 metres.<a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> was recently sold to Arrowbolt Propulsion Systems Limited on 4 December 2024. According to Companies House records, Arrowbolt acquired 75 percent or more of the company’s shares and voting rights, gaining control of the ability to appoint or remove directors.&nbsp;Read: <a data-gid="gid://syiq/Article/62169" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts acquired by Arrowbolt Propulsion Systems (2024-12-06 11:00:00 +0100)">Fairline Yachts acquired by Arrowbolt Propulsion Systems</a><img src="https://photo-assets.superyachttimes.com/photo/115479/image/large-3bdb0313f86238a041e79d823b27be99.jpg" data-gid="gid://syiq/Photo/115479">Arrowbolt, a UK-based division of Fletcher Marine Group, specialises in electric propulsion technology and had appointed experienced executive Peter Hamlyn as <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline</a>’s new Chief Executive. The reasons behind <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline</a>’s financial struggles so soon after the acquisition remain unclear and questions are now being raised about the circumstances of the deal.<a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a>, established in 1963 by Jack Newington, has long been a symbol of British yacht-building excellence. The company originated from Newington’s transformation of disused gravel pits by the River Nene into Oundle Marina, which remains its headquarters.Despite its prestigious history, <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline</a>’s collapse mirrors broader challenges in the yachting industry. In 2023, <a data-gid="gid://syiq/Article/56938" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="KPS Capital Partners acquires equity interest in Princess Yachts (2023-02-14 11:30:00 +0100)">Princess Yachts was sold to KPS Capital Partners</a>, while <a data-gid="gid://syiq/Article/61885" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker International sold to Orienta Capital and Lionheart Capital (2024-10-31 18:00:00 +0100)">Sunseeker changed hands to Lionheart Capital and Orienta Capital Partners</a>.&nbsp;SuperYacht Times has reached out to <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> for further comment and will provide updates as the story develops.

Fairline Yachts enters administration following acquisition

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British yacht builder Fairline Yachts has entered administration, just two months after its acquisition by Arrowbolt Propulsion Systems Limited. 

Fairline Yachts enters administration just weeks after acquisition

<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 the resignation of chairman and CEO Giovanni Costantino and non-executive director Gianmaria Costantino. This move triggered the dissolution of the company's entire board of directors.<img src="https://photo-assets.superyachttimes.com/photo/386329/image/large-5b57b6cc7647b019165636d2e632aab4.jpg" data-gid="gid://syiq/Photo/386329">The resignations, effective 20 July, automatically dissolved the board under the company's articles of association and Italian corporate law, as the majority of directors appointed by shareholders are no longer in office.The existing board will continue to operate on an interim basis until shareholders appoint a new board, with a meeting to be convened as soon as possible. The company said this would ensure business continuity and allow its ongoing restructuring process to continue.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 resigning directors said they had done everything possible to address the company's crisis and advance its restructuring efforts. They believe a change in governance will help strengthen stakeholder confidence, ensure continuity and maximise value for creditors.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">Read more:&nbsp;<a data-gid="gid://syiq/Article/66488" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG granted 60 days to file restructuring plan (2026-07-06 09:00:00 +0200)">TISG granted 60 days to file restructuring plan</a>The announcement comes just weeks after the company entered a court-supervised crisis regulation procedure under Italy's Crisis Code. Earlier this month, the Court of Florence confirmed protective measures allowing <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> to continue operating while it prepares a restructuring plan. The measures prevent shipowners from terminating existing contracts due to shipyard defaults or enforcing related guarantees, while also providing temporary relief to key suppliers involved in projects nearing delivery.The company has said the court protections will support the completion of ongoing yacht builds and the implementation of its restructuring strategy. Subject to agreements with suppliers, clients and financing institutions, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> is also considering a capital increase of around €100 million from the fourth quarter to strengthen its financial position.Despite stepping down as chairman and CEO, Giovanni Costantino remains <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG's</a> majority shareholder, indirectly controlling 53.6 per cent of the company's share capital through GC Holding S.p.A. Gianmaria Costantino does not hold shares in the company.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-23e9c0556425fdb09d6ac0efd3046cf3.jpg" data-gid="gid://syiq/Photo/306419">Read more: <a data-gid="gid://syiq/Article/66451" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG reports over €178 million net financial debt in latest restructuring update (2026-07-01 09:15:00 +0200)">TISG reports over €178 million net financial debt in latest restructuring update</a>The company added that neither director had raised objections or disputes regarding board decisions as part of their resignation. Giovanni Costantino also has no ongoing employment or contractual relationship with the company, while Gianmaria Costantino will remain an employee under his existing employment contract.<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 update the market on developments as the restructuring process progresses.

TISG Costantino resignation

The Italian Sea Group (TISG) has announced the resignation of chairman and CEO Giovanni Costantino

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TISG chairman Giovanni Costantino resigns, triggering board dissolution

<a data-gid="gid://syiq/Company/1181" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hydro Tec (Company)">Hydro Tec</a> has announced the appointment of Myriam Cutolo as Executive Vice President. <img src="https://photo-assets.superyachttimes.com/photo/400424/image/large-bb28a90401bc22ca0d567563f4dbb08e.png" data-gid="gid://syiq/Photo/400424">In her new role, Myriam Cutolo will coordinate the company’s administration, finance, organisation and business development activities, working in synergy with the management team and the heads of the various operational areas.Myriam brings with her extensive knowledge of the company, where she has developed her understanding of the organisation, its people and the processes in which it operates. An Olympic sailor and manager, her skills have been honed to complement the experience and skills of the team. <img src="https://photo-assets.superyachttimes.com/photo/400419/image/large-786015d14f715d880541f2641a598533.jpg" data-gid="gid://syiq/Photo/400419">Founded in 1995 by Sergio Cutolo and Silvia Himsolt, <a data-gid="gid://syiq/Company/1181" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hydro Tec (Company)">Hydro Tec</a> has evolved from an engineering company into a leading yacht design firm. The company has grown over the years, with the arrival of Nicola Camuffo as Chief Technical Officer (CTO) and Michele Lauriero as Chief Operating Officer (COO) in 2025.“Over more than thirty years, Sergio Cutolo built far more than a design studio: he built a culture, a vision and a wealth of expertise that today belong to all of <a data-gid="gid://syiq/Company/1181" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hydro Tec (Company)">Hydro Tec</a>,” explained Myriam Cutolo.“My goal is not to replace my father, because a figure like his cannot be replaced, and there would be no point in trying. My role is to help ensure that what he built continues to grow and generate value through the people who lead and develop the company every day.”<img src="https://photo-assets.superyachttimes.com/photo/400421/image/large-e9c1b1f865b39b50291c37cd6dc865fe.jpg" data-gid="gid://syiq/Photo/400421">Speaking of his daughter’s transition into the role of Executive Vice President, President &amp; Founder Sergio Cutolo said: “Seeing Myriam take on this role is a source of great satisfaction for me, not only as founder but also as a father.”“What we are building together is an organisation capable of evolving while maintaining the same quality, reliability and passion that have guided us from the very beginning. That is the most important guarantee we can offer for <a data-gid="gid://syiq/Company/1181" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hydro Tec (Company)">Hydro Tec</a>’s future.”

Hydro Tec appoints Myriam Cutolo as Executive Vice President

Hydro Tec has announced the appointment of Myriam Cutolo as Executive Vice President. 

Norwegian maritime technology company <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a> has announced an agreement to acquire the Swedish company <a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a> AB.<img src="https://photo-assets.superyachttimes.com/photo/400397/image/large-a892bdf50408f966fb7e7ca3fd29bc7f.jpg" data-gid="gid://syiq/Photo/400397"><a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a> is a leading designer and manufacturer of integrated propulsion and electrical systems for the maritime market and has demonstrated strong growth and a profitable market position in recent years.“This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments,” explained Lisa Edvardsen Haugan, CEO of <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a>.The financial details of the transaction are currently undisclosed, but the acquisition is priced at approximately the same EV/EBITDA level as the current pricing of <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a> ASA.“<a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a> complements our portfolio in a highly attractive way and together we will deliver greater value through a wider offering, stronger lifecycle support and shared expertise,” added Haugan.<a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a> will operate as a separate brand and standalone business unit within <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a>’s Propulsion &amp; Handling division, allowing <a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg</a>’s customer focus and culture to be maintained. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/400398/image/large-ae759ecd6b2a91de8c3c0a944c475fb2.jpg" data-gid="gid://syiq/Photo/400398">“Joining forces with <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a> is an exciting opportunity for <a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a>. Our businesses complement each other well, and together we can create new opportunities for our customers and employees,” commented Philip Chaabane, CEO of <a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a>.According to <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a>, the acquisition will allow them to benefit from <a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a>’s strong entrepreneurial culture, lean operations and speed in execution. At the same time, Berg Propulsion will gain access to KM’s global scale, systems expertise and structured capabilities.“The transaction will unlock significant potential in the aftermarket,” explained Per Håvard Siljan Hjukse, EVP Propulsion &amp;. Handling at <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a>. “We also see cross selling opportunities, such as our Energy &amp; Control products into <a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a>’s core segments, and Berg’s propeller systems into naval where KM has strong positions.”The combined propulsion portfolio will cover a full spectrum of technologies, including controllable pitch propellers and thrusters, hybrid and electrical propulsion systems and integrated vessel control solutions.In January 2026, <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a> announced that the company was formally on track to become an independent company after shareholders of Kongsberg Gruppen approved the separation at a general meeting held on Thursday 22 January 2026.Read more: <a data-gid="gid://syiq/Article/65227" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime to become stand-alone company (2026-01-23 12:15:00 +0100)">Kongsberg Maritime to become stand-alone company</a><img src="https://photo-assets.superyachttimes.com/photo/400399/image/large-55d4fc3d28111400f5505de36c37d8d0.png" data-gid="gid://syiq/Photo/400399"><a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg Maritime</a> operates across multiple maritime segments, supplying systems and solutions for offshore vessels, cruise ships, fishing vessels and naval platforms. The company is also a well-established supplier within the yacht and superyacht sector, where its integrated bridge systems, propulsion solutions and automation technologies are widely used.<a data-gid="gid://syiq/Company/8935" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Berg Propulsion (Company)">Berg Propulsion</a> is a Swedish company that designs and manufactures controllable-pitch propellers for the marine industry. The company produces customised main propellers, azimuth thrusters, transverse thrusters and manoeuvre systems for various vessels including cargos, tugs and superyachts.&nbsp;

Kongsberg Maritime acquires Berg Propulsion

Norwegian maritime technology company Kongsberg Maritime has announced an agreement to acquire the Swedish company Berg Propulsion AB.

<a data-gid="gid://syiq/Company/1088" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Numarine (Company)">Numarine</a> has announced that Bogdan Gusarev has joined as Sales Manager for Europe and the CIS region. <img src="https://photo-assets.superyachttimes.com/photo/399998/image/large-62a5903f5dff04c9e810116b4eaef5da.jpg" data-gid="gid://syiq/Photo/399998">Gusarev brings more than a decade of experience in the explorer yacht sector and has lived and worked across some of the world's most prevalent yacht building regions including Germany, Italy and Turkey.Before entering the industry, Gusarev lived aboard a sailing yacht, giving him a practical knowledge of life at sea. This has allowed him to guide clients with clarity and a strong understanding of what long-range yacht ownership truly requires.“Bogdan combines real boating experience with a genuine understanding of what owners in this segment are looking for,” explained Patrik von Sydow, CEO of <a data-gid="gid://syiq/Company/1088" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Numarine (Company)">Numarine</a>. “That's a rare mix, and exactly what we need as we grow our presence across Europe and the CIS.”<img src="https://photo-assets.superyachttimes.com/photo/399999/image/large-f2593548ee91bd938b36c95018180e06.jpg" data-gid="gid://syiq/Photo/399999">As well as this, Numarine has announced that Sales Manager for MENA &amp; APAC, Salih Küçükoğlu, will now take on the responsibility for the Turkish market as well. His new title will be Sales Manager for Türkiye, MENA &amp; APAC.He has previously led growth initiatives across the Middle East and Asia-Pacific, playing a key role in expanding dealer networks and managing relationships with high-net-worth clients.“With a customer-focused mindset and a design-driven perspective, Küçükoğlu now brings this experience to Numarine's home market, supporting the shipyard's continued growth in Türkiye,” concluded von Sydow.

Bogdan Gusarev appointed at Numarine

Numarine has announced that Bogdan Gusarev has joined as Sales Manager for Europe and the CIS region. 

Numarine appoints Bogdan Gusarev as Sales Manager for Europe and CIS region

<a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons (Company)">Camper &amp; Nicholsons</a> have announced the appointment of Ernesto Bustamante as a Superyacht Sales Broker across their Palm Beach, Fort Lauderdale and Miami offices.<img src="https://photo-assets.superyachttimes.com/photo/399828/image/large-19a5f0e5ae4aec550013e04859fea307.png" data-gid="gid://syiq/Photo/399828">Bustamante joins <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons (Company)">Camper &amp; Nicholsons</a> with over 16 years of experience, including his most recent role with <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>. At <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons (Company)">Camper &amp; Nicholsons</a>, he will focus primarily on new-build opportunities, while also supporting brokerage sales transactions.“We are delighted to welcome Ernesto to <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons (Company)">Camper &amp; Nicholsons</a>,” commented Sarah Futhazar, US Managing Director. “His expertise in new-build, combined with his commercial approach and dedication to client service, makes him a valuable addition to our team.”Born in Miami and raised between the US and Colombia, Bustamante interned at <a data-gid="gid://syiq/Company/5418" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bertram Yachts (Company)">Bertram Yachts</a> while in college, later graduating from the University of Miami in 2009 with a degree in International Finance &amp; Marketing, and a minor in Entrepreneurship.While in school, he became a fully licensed and certified yacht broker and consequently worked for a boutique firm. From 2014 to 2019 Bustamante joined the <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a> Sales Broker’s team, before later moving to the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> where he worked as a <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Brand Sales Manager.&nbsp;“What truly attracted me to the company is the opportunity to work with the world's leading shipyards and represent any yacht on the market, giving clients completely independent advice tailored to their ambitions,” concluded Ernesto Bustamante.

Ernesto Bustamante: Camper & Nicholsons appoints Superyacht Sales Broker

Camper & Nicholsons have announced the appointment of Ernesto Bustamante as a Superyacht Sales Broker.

Camper & Nicholsons appoints Ernesto Bustamante as a Superyacht Sales Broker

The <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">Virgin Islands Shipping and Maritime Authority (VISMA)</a> has launched a new Yacht Engaged in Trade (YET) programme, providing British Virgin Islands (BVI)-flagged superyachts with a formal path to combine private use with limited commercial chartering in Greek, Monaco and French waters.The certification, which comes under a newly published <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">Virgin Islands Shipping and Maritime Authority (VISMA)</a>, only applies to BVI-flagged yachts measuring 24-metres and above.<img src="https://photo-assets.superyachttimes.com/photo/285871/image/large-8fcbfd6ecd33123efe76d4c151e81472.jpg" data-gid="gid://syiq/Photo/285871">According to <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a>, owners may retain their Pleasure Certificate of British Registry while taking on a temporary Yacht Engaged in Trade (YET) certificate for the duration of each charter period, for up to a maximum of 84 days per year. Once the charter concludes, the yacht's pleasure certificate is reinstated without requiring conversion to full commercial registration.<a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a> also stated that owners are no longer required to leave European Union waters to complete new import or export formalities when switching between private and charter use.&nbsp;Under the programme, yachts may operate on either basis during the 18-month Temporary Admission period without further customs formalities, provided the relevant conditions are met. Yachts with VAT-paid status or in Free Circulation are not subject to the 18-month limit.<img src="https://photo-assets.superyachttimes.com/photo/363128/image/large-9de6013ee3a3b56cf02c66b85dc42db8.jpg" data-gid="gid://syiq/Photo/363128">The programme is intended for yachts already operating to a commercial standard. To qualify, vessels must measure at least 24-metres in load line length, hold class certification and comply with the Red Ensign Group Yacht Code, the Maritime Labour Convention, the International Safety Management Code and the International Ship and Port Facility Security Code.Furthermore, <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a> verifies compliance through a survey before issuing a Yacht Engaged in Trade Certificate of Compliance, which must be held before each charter period.Charters are limited to 84 days annually and may carry no more than 12 passengers. For non-VAT-paid yachts, charters can currently only commence in Greek, Monaco or French waters. During charter periods, yachts operate under commercial requirements and remain subject to Port State Control inspections under the Paris Memorandum of Understanding.Commenting on the programme, Business Development Manager at <a data-gid="gid://syiq/Company/8923" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Virgin Islands Shipping & Maritime Authority (Company)">VISMA</a>, Georgios Bazos, said: "This gives BVI-flagged yachts operating in Europe the opportunity to charter for part of the year while keeping their private registration for the rest. It's a natural next step for the registry, and one more option for owners who want flexibility without added complexity."

VISMA launches 84-day European charter programme for BVI-flagged superyachts

VISMA has launched a new programme, allowing BVI-flagged superyachts up to 84 days of commercial chartering in selected European waters. 

Plymouth-based boat refit company Yacht Solutions Europe has gone into liquidation, with debts of more than £600,000 likely to remain unpaid.<img src="https://photo-assets.superyachttimes.com/photo/399628/image/large-90cdcccefd37fd95c414dc2c921b672b.jpg" data-gid="gid://syiq/Photo/399628">Yacht Solutions Europe focused on yacht refit and repairs, with services including engineering, retrofitting, carpentry, upholstery and upgrades. They worked on projects worldwide and opened a base in Florida, USA, in 2023.Yacht Solutions Europe was founded in 2021 by two former <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a> employees, Paul Eccles and Dave Watson, after the collapse of a previous business, Yacht Solutions Worldwide Ltd.&nbsp;The assets were sold to Yacht Solutions Europe in a pre-pack deal and was dissolved in 2024, leaving debts of more than £282,000 unpaid, with the company now entering creditors’ voluntary liquidation.<img src="https://photo-assets.superyachttimes.com/photo/399629/image/large-a78e5de8571b860d8e0ffc83ed261014.jpg" data-gid="gid://syiq/Photo/399629">Documents filed on Companies House show assets of about £18,000 which will be used to pay nine employees and the pension scheme, however there is less than £1,000 left for other creditors, which include more than £176,000 owed to HM Revenue and Customs, nearly £85,000 owed to a lender, around £160,000 owed to six other banks and institutions and £82,500 owed to workers as unsecured creditors.There are 21 trade creditors claiming a combined £34,700, while the American arm Yacht Solutions USA is claiming £71,000. Yacht Solutions Europe’s statement of affairs also revealed that an estimated £608,522 will end up being unpaid.Steve Henson, Managing Director at Devon’s Castle Hill Insolvency, has been appointed joint-liquidator.

Yacht Solutions Europe enters liquidation

Yacht Solutions Europe has gone into liquidation, with debts of more than £600,000 likely to remain unpaid.

Yacht Solutions Europe enters liquidation with more than £600k unpaid debt

<a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> has announced the appointment of Evan Kortmann as Chief Executive Officer, succeeding Enrico Theuns, who has led the company since 2023.<img src="https://photo-assets.superyachttimes.com/photo/399351/image/large-0b3b67f3579803bdd2cecd343234633d.jpg" data-gid="gid://syiq/Photo/399351">Theuns was originally appointed as CEO through a planned three-year transition following the retirement of founder Wim van der Valk in April 2024. During his tenure, <a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> expanded into the 30 metre segment and further strengthened their position in the superyacht market.&nbsp;Read more: <a data-gid="gid://syiq/Article/60237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard announces retirement of founder and management buyout (2024-04-22 09:30:00 +0200)">Van der Valk Shipyard announces retirement of founder and management buyout</a><img src="https://photo-assets.superyachttimes.com/photo/314045/image/large-e3b7cc6745248f659ccfc2d9b2962713.jpg" data-gid="gid://syiq/Photo/314045">“Leading <a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> over the past three years has been a rewarding experience,” commented Enrico Theuns. “I am proud of what we have accomplished together and grateful to our employees, clients, co-makers and partners for their commitment and support throughout this period.”Evan Kortmann joins the management team alongside Technical Director Bram Kooltjes and Commercial Director Yoeri Bijker. Theuns will remain involved during the coming months to &nbsp;ensure a smooth transition and support the handover of his responsibilities.Kortmann joins <a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> from <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Balk Shipyard</a> where he acted as Chief Executive Officer following the semi-retirement of Daan Balk in 2023. Evan joined Balk the year prior as Chief Commercial Officer before transitioning to CEO.&nbsp;Read more: <a data-gid="gid://syiq/Article/58021" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard appoints Evan Kortmann as CEO as Daan Balk steps down (2023-07-04 16:45:00 +0200)">Balk Shipyard appoints Evan Kortmann as CEO as Daan Balk steps down</a><img src="https://photo-assets.superyachttimes.com/photo/351424/image/large-efe5e4f30ffe75940f3be9e197745b18.jpg" data-gid="gid://syiq/Photo/351424">“<a data-gid="gid://syiq/Company/2948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van der Valk Shipyard (Company)">Van der Valk Shipyard</a> has built a strong international reputation for delivering high-quality custom yachts,” explained Kortmann. “Our focus on fully custom yachts between 200 and 500 GT allows owners to create a yacht that reflects their individual requirements, while benefiting from the experience and craftsmanship of our team.”“I look forward to working with our clients, colleagues and partners as we continue developing the company and delivering yachts that meet the highest standards of quality and craftsmanship.”

Evan Kortmann appointed CEO of Van der Valk Shipyard

Van der Valk Shipyard has announced the appointment of Evan Kortmann as Chief Executive Officer.

Van der Valk Shipyard appoints Evan Kortmann as CEO

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

TISG granted 60 days to file restructuring plan

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

French catamaran builder <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> has announced a planned leadership transition, with Chief Executive Officer Nicolas Gardies set to retire in 2027 after overseeing the company's development for several years.<img src="https://photo-assets.superyachttimes.com/photo/336108/image/large-030539c248d560fb467ce7d5ce4321c0.png" data-gid="gid://syiq/Photo/336108">The governance changes come as the group, which includes the <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> Sailing Catamarans, <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot Yachts</a> and <a data-gid="gid://syiq/Company/5255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dufour/Locwind (Company)">Dufour</a> brands, prepares for its next phase of growth ahead of its 50th anniversary.Gardies will progressively transition his responsibilities over the coming months to ensure continuity within the business, with Deputy Chief Executive Officer Mathieu Fountaine tasked by the Board of Directors with supporting the next phase of the group's long-term development strategy.The Board has also appointed Stéven Guedeu as Deputy Chief Executive Officer. Guedeu joined the company in 2011and has held a number of commercial leadership positions in the development of both the <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> and <a data-gid="gid://syiq/Company/5255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dufour/Locwind (Company)">Dufour</a> brands. In his new role, he will oversee the group's sales and marketing activities, while supporting the execution of its long-term strategy.After more than 20 years, Deputy Chief Executive Officer Romain Motteau’s role has not been renewed. <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> stated that Motteau will continue to oversee the group's international activities, while working on a new strategic project, which is expected to be announced in the coming months.<img src="https://photo-assets.superyachttimes.com/photo/370998/image/large-1dccbc7db8fe06ebede4b4e471e38bab.png" data-gid="gid://syiq/Photo/370998">The company has also expanded its Executive Committee, which now comprises Nicolas Gardies, Mathieu Fountaine, Stéven Guedeu, Group Industrial Director Johan Le Saux, Supply Chain &amp; IT Director Vladimir Popov, Chief Financial Officer Betty Roger, Human Resources Director Mélanie Pouplier and Group Purchasing Director Déborah Pligot.In addition, Jordan Sabot has been appointed Communication &amp; Digital Director, succeeding Hélène de Fontainieu following her 32 years with the company. Sabot will be responsible for leading the group's communications strategy, supporting its international development and accelerating its digital transformation.The governance changes follow the publication of <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a>'s first-half fiscal 2025/26 results, during which the group reported revenue of €136.3 million while maintaining positive profitability. The company said it will continue investing in product development, innovation, the energy transition and the continued growth of its Fountaine Pajot Sailing Catamarans, <a data-gid="gid://syiq/Company/7778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fountaine Pajot (Company)">Fountaine Pajot</a> Yachts and <a data-gid="gid://syiq/Company/5255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dufour/Locwind (Company)">Dufour</a> brands.

Fountaine Pajot CEO Nicolas Gardies to step down

Fountaine Pajot has announced a planned leadership transition, with Chief Executive Officer Nicolas Gardies set to retire in 2027.

Fountaine Pajot CEO Nicolas Gardies to step down following leadership transition

The 24.6-metre <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> motor yacht <a data-gid="gid://syiq/Yacht/7458" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balance24.64m (80'10&quot;)Sanlorenzo2018">Balance</a> has been sold with Sebastian Jerolimov of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/179103/image/large-e2a336ea19d02a243cb5ee9baef2bb23.jpeg" data-gid="gid://syiq/Photo/179103">Delivered in 2018 by Italian shipyard, <a data-gid="gid://syiq/Yacht/7458" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balance24.64m (80'10&quot;)Sanlorenzo2018">Balance</a> forms part of the <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> SL78 series. She was designed inside and outside by <a data-gid="gid://syiq/Company/366" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Officina Italiana Design (Mauro Micheli) (Company)">Officina Italiana Design (Mauro Micheli)</a>, while her naval architecture was crafted in-house by her builder.<a data-gid="gid://syiq/Yacht/7458" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balance24.64m (80'10&quot;)Sanlorenzo2018">Balance</a> is equipped with electric zero-speed stabilisers for comfort both underway and at anchor, as well as an additional <a data-gid="gid://syiq/Company/6231" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kohler Engines (Company)">Kohler</a> generator. Her exterior decks provide multiple lounging and dining areas, creating a seamless connection with her interior spaces.Constructed with a GRP hull and superstructure, she has a beam of 5.74-metres and a draft of 1.84-metres. Spanning 70 GT, Balance accommodates up to eight guests across a four-stateroom configuration. Dedicated quarters are provided for up to three crew members, including her captain.In terms of performance, <a data-gid="gid://syiq/Yacht/7458" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balance24.64m (80'10&quot;)Sanlorenzo2018">Balance</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, delivering a cruising speed of 23 knots and a top speed of 30 knots.At the time of her sale, <a data-gid="gid://syiq/Yacht/7458" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balance24.64m (80'10&quot;)Sanlorenzo2018">Balance</a> had a last known asking price of €2,890,000. Image courtesy of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>.

25m Sanlorenzo motor yacht Balance sold

The 24.6-metre Sanlorenzo motor yacht Balance has been sold with a last known asking price of €2,890,000.

<a data-gid="gid://syiq/Company/3014" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rick Obey Yacht Sales (Company)">Rick Obey Yacht Sales</a> has announced the appointment of Bob Anslow to its Sales Team as Yacht Broker, bringing more than 30 years of industry experience to the company.Based in Florida, Anslow will serve clients both locally and internationally, drawing on an extensive background in yacht brokerage, consulting and project management.<img src="https://photo-assets.superyachttimes.com/photo/400858/image/large-bac603089bcef7edabc854089b5bfcca.jpg" data-gid="gid://syiq/Photo/400858">His passion for boating began near Clearwater Beach, where early experiences on the water and building a pram with his father ignited an interest in yachting. Over the years, he has owned and operated a wide variety of sailing and motor yachts, building practical expertise that has underpinned his brokerage career.Throughout more than three decades in the industry, Anslow has worked with clients in over 40 countries. This has developed a reputation for providing tailored guidance throughout the yacht acquisition and ownership process. His experience also includes overseeing major refit projects, including the four-year restoration of a 65-metre triple-masted schooner involving extensive mechanical, electrical and cosmetic works."Bob's superyacht experience directly aligns with our strategic focus and will greatly benefit the team," concluded <a data-gid="gid://syiq/Company/3014" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rick Obey Yacht Sales (Company)">Rick Obey Yacht Sales</a> Founder Rick Obey. "We are excited to welcome him. His experience and client-first approach fit perfectly with our values and will be a great asset to our brokerage."

Bob Anslow Rick Obey Yachts Sales Broker

Rick Obey Yacht Sales has announced the appointment of Bob Anslow to its Sales Team.

Rick Obey Yacht Sales appoints Bob Anslow as Yacht Broker

The 40.8-metre <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti Yachts (Company)">Benetti</a> motor yacht <a data-gid="gid://syiq/Yacht/10446" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tosun40.8m (133'10&quot;)Benetti Yachts2022">Tosun</a> has been sold. Nikolas Daoutis of <a data-gid="gid://syiq/Company/888" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atalanta Marine (Company)">Atalanta Marine</a> represented the buyer, while Thibault Roi and Peter Brown of <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> represented the seller.<img src="https://photo-assets.superyachttimes.com/photo/325909/image/large-c9f2d6c557cc9c5b2a2fbd725189d8e3.jpg" data-gid="gid://syiq/Photo/325909">Delivered in 2022 by Italian shipyard, <a data-gid="gid://syiq/Yacht/10446" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tosun40.8m (133'10&quot;)Benetti Yachts2022">Tosun</a> is a <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti Yachts (Company)">Benetti</a> Oasis featuring exterior design by <a data-gid="gid://syiq/Company/61" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RWD (Company)">RWD</a>, while her interior design was penned by <a data-gid="gid://syiq/Company/5263" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bonetti / Kozerski architecture DPC (Company)">Bonetti/Kozerski Architecture DPC</a>. Her naval architecture was crafted in-house by her builder <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti Yachts (Company)">Benetti</a>.Constructed with a GRP hull and superstructure, she has a beam of 8.5-metres and an interior volume of 386 GT. Accommodation onboard is arranged for up to 10 guests across five well-appointed staterooms. Dedicated quarters are available for a crew of nine, including her captain.In terms of propulsion, <a data-gid="gid://syiq/Yacht/10446" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tosun40.8m (133'10&quot;)Benetti Yachts2022">Tosun</a> is powered by twin <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> engines, delivering a cruising speed of 12 knots and a maximum speed of 16 knots.At the time of her sale, <a data-gid="gid://syiq/Yacht/10446" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tosun40.8m (133'10&quot;)Benetti Yachts2022">Tosun</a> had a last known asking price of €20,900,000. Image courtesy of <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a>.

41m Benetti Oasis motor yacht Tosun sold

The 41-metre Benetti Oasis 40M motor yacht Tosun has been sold, involving Burgess and Atalanta Marine.

The 60-metre <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> motor yacht <a data-gid="gid://syiq/Yacht/1193" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caipirinha60.0m (196'10&quot;)Lürssen Yachts2009">Caipirinha</a> is now sold. <a data-gid="gid://syiq/Person/392" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alex Banning, United Kingdom (Person)">Alex Banning</a> of <a data-gid="gid://syiq/Company/2237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SuperYachtsMonaco (Company)">SuperYachtsMonaco</a>, alongside Alex Busher and Cornelius Gerling of <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> represented the seller. <img src="https://photo-assets.superyachttimes.com/photo/391218/image/large-ad1c49ce47e9ae5af2a9e2717400ac4b.jpg" data-gid="gid://syiq/Photo/391218">Delivered in 2009 by the German shipyard, <a data-gid="gid://syiq/Yacht/1193" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caipirinha60.0m (196'10&quot;)Lürssen Yachts2009">Caipirinha</a> features exterior design by <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>, with interiors penned by <a data-gid="gid://syiq/Company/2091" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mark Berryman Design Ltd (Company)">Mark Berryman Design</a>. Her naval architecture was crafted in-house by her builder. The yacht most recently underwent an extensive refit in 2025.&nbsp;On deck, highlights include a generous aft dedicated to dining, lounging and sunbathing, alongside a sundeck Jacuzzi, sunpads and shaded social spaces. Inside, guests are welcomed in a spacious main saloon featuring large windows, sculptural furnishings and curated pieces.&nbsp;With an interior volume of 1,182 GT, accommodation onboard is arranged for up to 12 guests across six well-appointed staterooms, including a full-beam owner’s suite, a VIP suite and four guest staterooms. Separate quarters sleep up to 14 crew members, catering to private and charter operations.In terms of performance, <a data-gid="gid://syiq/Yacht/1193" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caipirinha60.0m (196'10&quot;)Lürssen Yachts2009">Caipirinha</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, delivering a cruising speed of 12 knots and a top speed of 15.5 knots.At the time of her sale, <a data-gid="gid://syiq/Yacht/1193" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caipirinha60.0m (196'10&quot;)Lürssen Yachts2009">Caipirinha</a> had a last known asking price of €39,900,000. Image courtesy of &nbsp;<a data-gid="gid://syiq/Company/2237" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SuperYachtsMonaco (Company)">SuperYachtsMonaco</a>.

60m Lürssen superyacht Caipirinha sold

The 60-metre Lürssen superyacht Caipirinha has been sold, with SuperYachtsMonaco and Edmiston. 

<a data-gid="gid://syiq/Company/4585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Idea Yachting (Company)">Idea Yachting</a> has announced the sale of a <a data-gid="gid://syiq/Yacht/16782" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mangusta 104/1131.8m (104'4&quot;)Mangusta Yachts2027">new-build 31.8-metre Mangusta 104 REV</a>, with Marco Fiorani representing the buyer. She is the <a data-gid="gid://syiq/Yacht/16782" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mangusta 104/1131.8m (104'4&quot;)Mangusta Yachts2027">eleventh hull</a> in the series and is currently under construction at <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mangusta Yachts (Company)">Overmarine</a>'s shipyard in Viareggio. Delivery is scheduled for spring 2027.<img src="https://photo-assets.superyachttimes.com/photo/400854/image/large-b120343d877e8c8104d8e7066d457f6d.jpg" data-gid="gid://syiq/Photo/400854">The 31.8-metre Mangusta 104 REV was developed through a collaboration between <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mangusta Yachts (Company)">Overmarine Group</a>'s Engineering Department and <a data-gid="gid://syiq/Company/1124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lobanov Design (Company)">Lobanov Design</a>. She features exterior design by <a data-gid="gid://syiq/Company/1124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lobanov Design (Company)">Lobanov Design</a>, while her naval architecture was developed in-house by her builder.Outside, she presents a sporty profile characterised by sleek lines and expansive glazing, strengthening the connection between the yacht's interior and exterior spaces.Designed as part of the Mangusta Maxi Open range, the yacht offers generous outdoor living areas alongside refined interiors defined by expansive glass surfaces seamlessly integrated into her architecture to enhance onboard comfort as well as aesthetics.According to the shipyard, the model combines the brand's design language with a contemporary approach to onboard living.Constructed with a GRP hull and superstructure, she has a beam of 7.06-metres and a shallow draft of 1.6-metres, allowing access to shallow reefs and remote anchorages. At an interior volume of 165 GT, accommodation onboard is arranged for up to 10 guests across four staterooms. Dedicated quarters sleep up to four crew members, including her captain.In terms of performance, she is powered by twin MTU engines, propelling her to a top speed of 30 knots and a cruising speed of 25 knots.&nbsp;

Eleventh new-build 32m Mangusta 104 REV sold

The eleventh new-build 32-metre Mangusta 104 REV has been sold, with Idea Yachting's Marco Fiorani representing the buyer.

 Eleventh new-build 32m Mangusta 104 REV sold

The 26.3-metre <a data-gid="gid://syiq/Company/1869" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cerri Cantieri Navali (CCN) (Company)">Cerri</a> motor yacht <a data-gid="gid://syiq/Yacht/16962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mr. K26.3m (86'3&quot;)Cerri Cantieri Navali (CCN)2007">Mr. K</a> has been sold in an in-house deal, with Marco Fiorani of <a data-gid="gid://syiq/Company/4585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Idea Yachting (Company)">Idea Yachting</a> representing both the buyer and seller. The transaction was concluded in Sardinia.<img src="https://photo-assets.superyachttimes.com/photo/387903/image/large-f0703e4e3913a7b93cf3bc71364e03e0.jpg" data-gid="gid://syiq/Photo/387903">Delivered in 2007 by Italian shipyard <a data-gid="gid://syiq/Company/1869" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cerri Cantieri Navali (CCN) (Company)">Cerri (CCN)</a>, <a data-gid="gid://syiq/Yacht/16962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mr. K26.3m (86'3&quot;)Cerri Cantieri Navali (CCN)2007">Mr. K</a> is a <a data-gid="gid://syiq/Company/1869" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cerri Cantieri Navali (CCN) (Company)">Cerri</a> 86' FlyingSport model and was previously known as Dea. <a data-gid="gid://syiq/Company/1869" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cerri Cantieri Navali (CCN) (Company)">Cerri (CCN)</a> crafted the yacht entirely in-house, having developed her exterior design, naval architecture and interior design.&nbsp;Constructed with a GRP hull and superstructure, <a data-gid="gid://syiq/Yacht/16962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mr. K26.3m (86'3&quot;)Cerri Cantieri Navali (CCN)2007">Mr. K</a> has a beam of 6.35-metres and a shallow draft of 1.3-metres, allowing her to cruise on shallow waters and access secluded reefs and bays.At an interior volume of 78 GT, accommodation onboard <a data-gid="gid://syiq/Yacht/16962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mr. K26.3m (86'3&quot;)Cerri Cantieri Navali (CCN)2007">Mr. K</a> is arranged for up to eight guests across four staterooms. Separate quarters sleep up to a crew of three, including her captain.In terms of propulsion, <a data-gid="gid://syiq/Yacht/16962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mr. K26.3m (86'3&quot;)Cerri Cantieri Navali (CCN)2007">Mr. K</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, providing her a cruising speed of 31 knots and a top speed of 40 knots.At the time of her sale, <a data-gid="gid://syiq/Yacht/16962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mr. K26.3m (86'3&quot;)Cerri Cantieri Navali (CCN)2007">Mr. K</a> had a last known asking price of €1,550,000.Image courtesy of&nbsp;<a data-gid="gid://syiq/Company/4585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Idea Yachting (Company)">Idea Yachting</a>.

26m Cerri motor yacht Mr. K sold

26m Cerri motor yacht Mr. K has been sold with a last known asking price of €1,550,000.

<a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> has announced the acquisition of <a data-gid="gid://syiq/Company/5301" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SIMAN Srl (Company)">SIMAN</a>, a specialist in metal fabrication and mechanical engineering for the yachting industry. The transaction was carried out by Continental Investment Srl, a company under the same ownership as the <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/400853/image/large-f2547e3819fbc69998c1cb50fe5c25dc.jpg" data-gid="gid://syiq/Photo/400853">Founded in 1988, <a data-gid="gid://syiq/Company/5301" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SIMAN Srl (Company)">SIMAN</a> specialises in mechanical engineering, propulsion systems, and refit and maintenance services for yachts up to 60-metres in length. The company also operates in the commercial maritime and defence sectors, with an existing portfolio of contracts that includes projects for the Italian Navy.The acquisition forms part of <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a>’s vertical integration plan and is intended to strengthen its capabilities in the construction of metal yachts across its <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> and <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a> brands.The transaction is accompanied by a €20 million industrial development programme, of which €11 million has already been invested. The programme will focus on upgrading production facilities, consolidating <a data-gid="gid://syiq/Company/5301" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SIMAN Srl (Company)">SIMAN</a>’s order book and bringing the company to full profitability by 2027.<a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> plans to expand its production capacity through <a data-gid="gid://syiq/Company/5301" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SIMAN Srl (Company)">SIMAN</a>’s facilities in La Spezia and Pisa and establish a new division dedicated to the construction of metal yachts. According to the <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Group</a>, the integration will provide greater direct oversight of its Italian production chain.New metal yacht projects are already under development for <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> and <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>, while the first 50-metre <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> is currently under construction. The first new models are scheduled to be unveiled by the end of 2026.“The acquisition of <a data-gid="gid://syiq/Company/5301" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SIMAN Srl (Company)">SIMAN</a> represents a natural evolution of our industrial growth strategy,” said Mario Petroni, chairman of <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a>. “This transaction expands our manufacturing capabilities in the strategically important metal yacht segment while strengthening a highly specialised Italian industrial supply chain. At the same time, it creates new opportunities for growth, innovation and employment.”

Next Yacht Group acquires metal fabrication specialist SIMAN

Next Yacht Group has announced the acquisition of SIMAN, a specialist in metal fabrication and mechanical engineering for the yachting industry.

The 41.45-metre <a data-gid="gid://syiq/Company/1364" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amer Yachts S.p.A. (Company)">Amer</a> 42 Explorer yacht <a data-gid="gid://syiq/Yacht/12235" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Even Further41.45m (135'12&quot;)Amer Yachts S.p.A.2026">Even Further</a> has been delivered, marking the first unit in the shipyard's new custom steel explorer yacht series.<img src="https://photo-assets.superyachttimes.com/photo/398522/image/large-1acd72b04183e12e915641e259178b77.jpg" data-gid="gid://syiq/Photo/398522">First unveiled as the <a data-gid="gid://syiq/Company/1364" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amer Yachts S.p.A. (Company)">Amer</a> Steel Explorer 41 at the <a data-gid="gid://syiq/Event/122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2022">2022 Monaco Yacht Show</a>, the project represents <a data-gid="gid://syiq/Company/1364" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amer Yachts S.p.A. (Company)">Amer Yachts</a>' entry into the long-range steel explorer market. <a data-gid="gid://syiq/Yacht/12235" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Even Further41.45m (135'12&quot;)Amer Yachts S.p.A.2026">Even Further</a> completed initial open-sea trials, recording a fuel consumption of just 60 litres per hour at 9.5 knots in Eco Mode following her launch.Read more: <a data-gid="gid://syiq/Article/66433" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First Amer 42 Explorer yacht Even Further launched (2026-06-30 09:45:00 +0200)">First Amer 42 Explorer yacht Even Further launched<img src="https://photo-assets.superyachttimes.com/photo/398526/image/large-de46c8c0cea990e0536ba4f8336639fe.jpg" data-gid="gid://syiq/Photo/398526"></a>Penned inside and out by <a data-gid="gid://syiq/Company/283" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luiz de Basto Designs (Company)">Luiz de Basto</a>, with naval architecture by <a data-gid="gid://syiq/Company/5771" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Optima Design (Company)">Optima Design</a>, the explorer yacht features a steel hull and aluminium superstructure built to Ice Class standards. She draws Mediterranean-inspired styling and is characterised by a high bow, a touch-and-go helipad, a 17-metre flybridge, and twin 8,000-kilogram cranes integrated into the superstructure for launching and retrieving tenders and water toys.<img src="https://photo-assets.superyachttimes.com/photo/340521/image/large-db11ea0b419c3e55bfefde60fad06051.jpg" data-gid="gid://syiq/Photo/340521">According to <a data-gid="gid://syiq/Company/1364" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amer Yachts S.p.A. (Company)">Amer Yachts</a> CEO Barbara Amerio, <a data-gid="gid://syiq/Yacht/12235" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Even Further41.45m (135'12&quot;)Amer Yachts S.p.A.2026">Even Further</a> is the culmination of the shipyard's decades-long focus on improving performance while reducing fuel consumption and emissions. According to her, this strategy was first adopted in the late 1980s, well before sustainability became a major industry focus. She said the approach now provides a competitive advantage for both private owners and charter operators facing rising fuel costs.<img src="https://photo-assets.superyachttimes.com/photo/398523/image/large-ea3dd745dc2ddd33a90ca60521f2a84e.jpg" data-gid="gid://syiq/Photo/398523">The 440-tonne explorer yacht is capable of a transoceanic range of 8,900 nautical miles in Eco Mode, drawing from her 56,300-litre fuel capacity. Powered by four <a data-gid="gid://syiq/Company/5350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Volvo Penta (Company)">Volvo Penta</a> D13 engines coupled to twin IPS40 pod drives, <a data-gid="gid://syiq/Yacht/12235" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Even Further41.45m (135'12&quot;)Amer Yachts S.p.A.2026">Even Further</a> has a cruising speed of 14 knots and a top speed of 16.3 knots. In Eco Mode, only two of the four engines are engaged, significantly reducing fuel consumption while maximising efficiency and range during extended passages.

First Amer 42 Explorer yacht Even Further delivered

 Italy-based shipyard Permare has announced the delivery of the 41.45-metre explorer yacht Amer 42 Explorer yacht Even Further.

When&nbsp;<a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise Yachts</a>&nbsp;began building its first yacht with hybrid propulsion, the project was driven by an owner’s ambitious brief. Project Arrow — now&nbsp;<a data-gid="gid://syiq/Yacht/11827" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="N2H76.3m (250'4&quot;)Turquoise Yachts2026">N2H</a>&nbsp;with exterior styling by&nbsp;<a data-gid="gid://syiq/Company/1197" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Team for Design - Enrico Gobbi (Company)">Team for Design</a>&nbsp;— arrived with a partially developed system architecture already in place. The shipyard’s role was to take that vision and deliver it on an accelerated timeline, integrating the evolving hybrid technology into a fully realised superyacht platform.<img src="https://photo-assets.superyachttimes.com/photo/400694/image/large-66314510c1e8dcb03efa8dae5c4f7c75.jpg" data-gid="gid://syiq/Photo/400694">By the time <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a> received the first specification package for Project Arrow, the yacht was already framed with a hybrid propulsion architecture based on a feasibility study the owner’s team had carried out. That early work defined both expectations and constraints, shaping the technical discussions that followed. Turquoise’s role evolved beyond construction to one of integration and optimisation as it worked to refine a concept into a buildable, reliable system.“It wasn’t a case of the shipyard pushing hybrid technology as a flagship concept,” says <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a> CEO Burak Akgul. “The primary driver was the owner’s specification. That said, the idea of versatility – between diesel-electric and hybrid operation – was already a consideration within <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a>.”The keel was laid in January 2022, deliberately ahead of anticipated regulatory and classification rule changes, and by mid-year both hull and superstructure fabrication were underway. That stabilised the design basis, but it also locked the yard into a fast-moving engineering process where key technical decisions were still open, including the propulsion supplier and hybrid integration architecture. From that moment, Project Arrow became a parallel development exercise — design, procurement, and construction evolving simultaneously.<img src="https://photo-assets.superyachttimes.com/photo/400689/image/large-c4cf72bcf8e129dbac5df1a4633df5fe.jpg" data-gid="gid://syiq/Photo/400689">One supplier, one systemThrough early 2022, <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a> continued parallel discussions with propulsion system suppliers, eventually choosing MTU to deliver not just the diesel engines, but a full hybrid ecosystem. Rather than coordinating multiple independent suppliers, this decision reduced interface risk across mechanical, electrical and control domains at a time when completed superstructure blocks were already stacked on site, waiting for the lower technical spaces to catch up.Scale emerged as a fundamental constraint early on. Initial hybrid system layouts included a DC switchboard approximately 22 metres long – much wider than the beam of the yacht platform. Even when split into sections, it could not be accommodated. That moment defined the trajectory of the project. Instead of forcing the system into the yacht, the yacht was scaled and reorganised around the system.<img src="https://photo-assets.superyachttimes.com/photo/400693/image/large-c4b7e9cd9098b6f1e5a5317a8c4fd319.jpg" data-gid="gid://syiq/Photo/400693">“The project was upgraded from a smaller concept to fit into our 80-metre platform with a beam of 13.2 metres,” says Bediz Döşemeciler, Technical Director at <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a>. “This didn’t require a complete redesign of the hull form, but it did involve internal restructuring: bulkheads were moved, tank arrangements were redesigned, and technical volumes were redistributed. The external silhouette remained consistent, but internally the yacht was fundamentally re-engineered around machinery requirements.”At the centre was the hybrid propulsion package supplied by <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a>. The system combines diesel engines rated at approximately 1,920 kW each, gearboxes supplied by <a data-gid="gid://syiq/Company/7488" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ZF Friedrichshafen AG (Company)">ZF Friedrichshafen</a>, electric motors, variable-speed generators with permanent magnet alternators, fixed-pitch propellers, a battery energy storage system, and a DC distribution grid.The propulsion concept is a parallel hybrid system, with electric motors mounted directly on the gearbox. This provides multiple operating modes: conventional diesel propulsion, full electric running using either batteries or generators, hybrid assist during acceleration and load transitions, and shore power operation. A ‘boost’ mode — where electric motors supplement diesel output — was deliberately excluded as the additional structural requirements on shaftlines and drivetrain components would not have been justified given the vessel’s intended speed range.<img src="https://photo-assets.superyachttimes.com/photo/400690/image/large-001b47ead9f74541d2a237056582ac43.jpg" data-gid="gid://syiq/Photo/400690">Integration is everythingEnergy storage is provided by a battery system supplied by EST-Floattech. The installation delivers 1.5 MWh of capacity, arranged across 144 modules with a total weight of around 12 tonnes. The system feeds into a DC grid architecture, which improves efficiency by reducing conversion losses and allows flexible distribution of energy between propulsion, hotel loads, and charging systems (sister project 80-metre NB76 under construction, with hull and superstructure already complete, features a higher-capacity battery system of nearly 2 MWh).Integrating this hybrid system into a shaftline yacht reshaped the internal architecture. Unlike diesel-electric vessels, where machinery can be distributed with greater freedom, a parallel hybrid system imposes constraints around shaft alignment and gearbox positioning.“Building a hybrid yacht isn’t just about adding batteries and electric motors,” says Döşemeciler. “The real complexity lies in integration, from thermal management across multiple power sources and control logic for mode transitions, to physical space allocation, weight distribution and stability.”<img src="https://photo-assets.superyachttimes.com/photo/400696/image/large-424d78858a641cef36368cde66a656c9.jpg" data-gid="gid://syiq/Photo/400696">The engine room became a tightly orchestrated space in which propulsion, energy storage, and hotel systems had to coexist within fixed structural boundaries. Central pipe tunnels and traditional service corridors were reduced or eliminated; fuel tanks were relocated; and generator placement was adjusted to accommodate hybrid equipment. The electrical architecture was divided into two main zones: an AC system for hotel and auxiliary loads, and a dedicated DC system for hybrid propulsion and energy management. The DC switchboard, originally envisioned at 22 metres, was progressively reduced through iterative redesign to approximately 11.5 metres in overall length.Propulsion is supported by Brunvoll tunnel and rim-drive units, including low-noise 300 kW thrusters, along with independent electro-hydraulic rudders. These systems were integrated to maintain manoeuvrability while minimising acoustic impact – an important requirement for a hybrid vessel designed for both silent operation and efficiency.<img src="https://photo-assets.superyachttimes.com/photo/400691/image/large-d4516cc538bfcec36fa39a1ad628fb71.jpg" data-gid="gid://syiq/Photo/400691">Open spaces, hidden systemsAs technical density increased below deck, every cubic metre became contested space. Cold storage, stabiliser compartments, crew accommodation, and technical voids all had to be carefully balanced against machinery requirements. Even standard yacht functions, such as provisioning and waste handling, required rethinking due to the reduction in unallocated structural volume. The result is a compact and densely engineered lower-deck environment in which nearly every compartment had multiple dependencies.<img src="https://photo-assets.superyachttimes.com/photo/400697/image/large-defe0d01d4772b161d111a5e81a6e3cf.jpg" data-gid="gid://syiq/Photo/400697">Above deck, the focus shifted from machinery to architecture, relying heavily on openness with multiple fold-down balconies and sliding glass openings spanning up to 5.4 metres in width with four-panel configurations that disappear into concealed pockets. Supplied by Nau Tec in Germany, selected for their willingness to develop customised solutions, these systems required detailed 3D coordination of structure, cabling and drainage in constrained spaces.A defining feature of <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>’s interior scheme is a six-metre, floor-to-ceiling wall of triple-laminated glass supplied by BCE Glass that forms part of the main staircase atrium and wine display area. Elsewhere, adhesive-bonded glazing spanning more than 15 metres without visible mullions underwent numerical analysis to assess load transfer and deflection behaviour. The interior outfitting by Ulutas, a long-standing <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a> stakeholder, is executed to their customary high standard.<img src="https://photo-assets.superyachttimes.com/photo/400695/image/large-e224d5b10cb8d6a46993f4703d2fb6cd.jpg" data-gid="gid://syiq/Photo/400695">The bridge design reflects the same philosophy of minimal visual obstruction. Developed with <a data-gid="gid://syiq/Company/6426" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kongsberg Maritime (Company)">Kongsberg</a>, the bridge uses a commercial-style layout with three independent consoles and sliding operator chairs. Instead of traditional cabinetry, much of the computing hardware is relocated into concealed racks beneath or behind the bridge area, reducing visual clutter but increasing integration complexity.“Even systems as small as wipers were reimagined, using inverted rack-over mechanisms mounted above the glazing to preserve uninterrupted sightlines,” Döşemeciler points out. “Across the yacht, the design priority remains consistent: maximise visibility and openness while absorbing the engineering complexity elsewhere.”<img src="https://photo-assets.superyachttimes.com/photo/314487/image/large-a54509ab117723ee8b938470ea132310.jpg" data-gid="gid://syiq/Photo/314487">Throughout the vessel, extensive external analysis supported the design process. Noise and vibration studies were carried out with <a data-gid="gid://syiq/Company/5472" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Van Cappellen Consultancy (Company)">Van Cappellen</a>, alongside structural, CFD, and systems analysis conducted with Mesh Engineering &amp; Software. These parallel workstreams ensured that acoustic performance, structural integrity, and hydrodynamic efficiency remained aligned despite continuous design evolution.The beach club introduced additional complexity. Incorporating a gym, sauna and hammam behind fold-down terraces and a transom arrangement that deliberately excludes a fixed swim platform for security reasons, the large shell doors were supplied by <a data-gid="gid://syiq/Company/1877" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NewThex Ned BV. (Company)">NewThex</a> with structural fabrication carried out both in-house and by Makro Yacht Systems to retain control over tolerances and integration speed. Custom features such as passerelles and swim stairs went through several design iterations, driven by operational constraints and late-stage changes.<img src="https://photo-assets.superyachttimes.com/photo/391954/image/large-58000c8e4f271f77e61d57b879dea033.jpg" data-gid="gid://syiq/Photo/391954">Moving targetsSome of these changes were significant. When construction was at an advanced stage, the hardtop was raised by approximately 200 mm, the number of balconies was increased from six to eight, and interior layouts were adjusted in response to real-world visualisation and owner feedback. The owner’s involvement remained constant throughout, with frequent site visits, weekly technical meetings, and continuous design iteration, generating more than 1,500 pages of meeting documentation.The most consistent challenge for the shipyard, however, remained unchanged: designing and building at the same time. In a conventional project, design might precede construction by a year or more. Here, both processes were fully interlocked, meaning constant recalibration between engineering intent and physical reality.“Systems were being defined while structure was being built, and structure was being modified while systems were being installed,” says Döşemeciler. “This created a constantly moving target in which engineering decisions had immediate physical consequences. But in the end, those challenges actually improved the final outcome.”<a data-gid="gid://syiq/Yacht/11827" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="N2H76.3m (250'4&quot;)Turquoise Yachts2026">N2H</a> demonstrates how modern superyachts are increasingly defined by their systems rather than their form. Propulsion, energy storage and control architecture are no longer subsystems hidden within the hull – they are the primary forces shaping it. In this case, the hybrid system became the defining constraint that shaped platform size, internal architecture and structural layout. The yacht was not designed first and engineered later; rather it was engineered into existence from the inside out, with every major decision flowing from the requirements of its hybrid core.<img src="https://photo-assets.superyachttimes.com/photo/391907/image/large-ba8aa8cc0b5d960c4d6a55ea9e9d26cf.jpg" data-gid="gid://syiq/Photo/391907">

Building N2H: Turquoise's first 76m hybrid propulsion yacht

A look inside the build of Turquoise's first hybrid-propulsion 76m superyacht.

The 36.3-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/7519" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kokoro36.3m (119'1&quot;)Moonen Yachts2020">Kokoro</a> has been sold, with Ron Silvia of <a data-gid="gid://syiq/Company/6818" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jefferson Beach Yacht Sales (Company)">Jefferson Beach Yacht Sales</a> introducing the buyer and Matthew Stone and Richard Gray of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/371215/image/large-8f89a1ada7590f1c5c8553814e0bb9fa.jpg" data-gid="gid://syiq/Photo/371215">Delivered in 2020, <a data-gid="gid://syiq/Yacht/7519" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kokoro36.3m (119'1&quot;)Moonen Yachts2020">Kokoro</a> forms part of her builder’s Martinique series and was commissioned as her owner’s personal project. With exterior design created 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> and interiors crafted by <a data-gid="gid://syiq/Company/4664" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Studio Indigo (Company)">Studio Indigo</a>, she has remained in private ownership since delivery.&nbsp;At a volume of 337 GT, <a data-gid="gid://syiq/Yacht/7519" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kokoro36.3m (119'1&quot;)Moonen Yachts2020">Kokoro</a> can sleep up to 12 guests across five well-appointed staterooms. Her layout comprises a full-beam master suite and interior spaces suited for relaxation. Moving outside, her guests can dine alfresco or lounge on her sundeck.Regarding her propulsion system, the <a data-gid="gid://syiq/Company/130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Moonen Yachts (Company)">Moonen</a> yacht 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, providing her with a cruising speed of 10 knots and a top speed of 16.5 knots.At the time of her sale, <a data-gid="gid://syiq/Yacht/7519" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kokoro36.3m (119'1&quot;)Moonen Yachts2020">Kokoro</a> had a last known asking price of €20,000,000.Photo courtesy of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>.

Moonen yacht Kokoro sold

The 36.3-metre Moonen motor yacht Kokoro has been sold.

36m Moonen motor yacht Kokoro sold

As of 4 December 2024, <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> has been acquired by Arrowbolt Propulsion Systems Limited. According to the United Kingdom Companies House records, Arrowbolt Propulsion Systems now holds 75 percent or more of the ownership of shares for <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/340218/image/large-3f75700eebc1f3959c5bcc14c5dc8614.jpg" data-gid="gid://syiq/Photo/340218"><a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> Holding Limited had remained as the sole shareholder of the company with 75 percent or more of the shares from 12 June 2021 until 4 December 2024. This change of ownership to Arrowbolt Propulsion Systems now means that Arrowbolt are in control of 75 percent or more of the ownership of voting rights and shares, as well as control over the right to appoint or remove directors.&nbsp;According to their website, UK-based Arrowbolt Propulsion Systems is part of the Fletcher Marine Group and are self-described as "pioneers of cutting-edge electric propulsion technology and systems."Current records from the United Kingdom Companies House show that Martyn Hicks and Hitesh Katechia currently remain as Directors of <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a>, roles they have both held since 16 August 2023, following the resignation of Paul Grys.&nbsp;<a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> began in 1963 when Jack Newington acquired an assortment of disused gravel pits by the River Nene, transforming the area into Oundle Marina. <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> currently has several models in its portfolio, ranging from 10-metres to 20-metres.SuperYacht Times has reached out to <a data-gid="gid://syiq/Company/2793" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fairline Yachts (Company)">Fairline Yachts</a> for further comment and information.

Arrowbolt Propulsion Systems acquires Fairline Yachts

Fairline Yachts has been acquired by Arrowbolt Propulsion Systems Limited.

Fairline Yachts acquired by Arrowbolt Propulsion Systems

UK-based yacht builder <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a> has announced that KPS Capital Partners has entered into a definitive agreement to acquire a controlling equity interest in the company. The deal is expected to be completed in the first quarter of 2023 and will see existing shareholders retain ownership of the company.<img src="https://photo-assets.superyachttimes.com/photo/258136/image/large-1a5b771835acfb06005cd285755181e3.jpg" data-gid="gid://syiq/Photo/258136">The US-based investment firm specialises in owning manufacturing businesses, with the deal still subject to customary closing conditions and approvals. The move follows the company's announcement last year to expand, as part of a successful bid by Plymouth City Council to create a Freeport in the region.Read:&nbsp;<a data-gid="gid://syiq/Article/56934" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Speculations rise over potential Princess Yachts acquisition (2023-02-13 14:15:00 +0100)">Speculations rise over potential Princess Yachts acquisition<img src="https://photo-assets.superyachttimes.com/photo/121696/image/large-ca3bca75e721d7c9ba4c864e6d0bcbd1.jpg" data-gid="gid://syiq/Photo/121696"></a>“We are excited to make this significant investment in <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a>, a leading company in the luxury global yachting industry with an iconic brand grounded in British tradition, a remarkable and growing product range, and world-wide reputation for quality and innovation,” commented Ryan Harrison, a Partner of KPS Mid-Cap Investments. <img src="https://photo-assets.superyachttimes.com/photo/41309/image/large-90c2b903c073be6d676cf91a33346303.jpg" data-gid="gid://syiq/Photo/41309">This new investment will strengthen Princess Yachts ’ position in the marine sector in the UK and support the company’s opportunities both nationally and internationally. “We are thrilled to partner with KPS for this exciting new chapter for <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a>,” added Antony Sheriff, Chief Executive Officer of <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/253526/image/large-9e7ae3ca9fa60d5d44938904fef42637.jpg" data-gid="gid://syiq/Photo/253526">“KPS and the <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a> team are deeply committed to investing in the Company’s future while continuing to further strengthen our portfolio of best-in-class motor yachts. With a current order book nearing a record $1 billion and many model lines sold into 2025, we have never been in a stronger commercial position.”

KPS Capital Partners acquires equity interest in Princess Yachts

KPS Capital Partners has acquired a controlling equity interest in UK-based yacht builder Princess Yachts.

<a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker International</a> has announced that the company has been successfully acquired by Orienta Capital Partners, who acted as an advisory firm to FARO Alternative Investments, alongside Miami-based investment firm Lionheart Capital, and through a club deal also sponsored by Orienta.<img src="https://photo-assets.superyachttimes.com/photo/302702/image/large-858045b13f3d301dc91e38c975c0fb75.jpg" data-gid="gid://syiq/Photo/302702">The acquisition, confirmed today at the <a data-gid="gid://syiq/Event/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fort Lauderdale International Boat Show - 2024">Fort Lauderdale Boat Show</a>, marks the end of <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker International</a>'s 11-year tenure under the ownership of China’s Dalian Wanda Group.Located in Poole on the Dorset coast in the south of England, <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a> has been involved in yacht manufacturing for over 50 years. The company has experienced several changes in ownership over the past 15 years. In 2023, <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a> generated £320 million in aggregate sales, primarily from yachts ranging from 15 to 50-metres.<img src="https://photo-assets.superyachttimes.com/photo/267386/image/large-dae3ce1b169da0cfd82cfc05981c6e7a.jpg" data-gid="gid://syiq/Photo/267386">Commenting on the acquisition, Giancarlo Galeone, Chairman of FARO and now also Chairman of <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a>, expressed his enthusiasm: “We are thrilled to start this new journey alongside <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a>. Our strong expertise in the yachting industry, combined with our long-standing relationship with its CEO, will allow us to further enhance the British identity and craftsmanship, driving the brand towards ambitious goals.”Galeone brings extensive experience from the yachting industry, having served as the CEO of the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> for over a decade. He further stated, “We can expect a substantial investment into the development of new core and niche models, which will support and expand the brand's global presence.”Ophir Sternberg, founder and CEO of Lionheart Capital and now also co-owner of Sunseeker added: “We are excited to welcome <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker Yachts</a> into the Lionheart Capital family. This acquisition represents a strategic investment in a brand with a storied history, including as James Bond’s yacht maker, and a bright future. Lionheart understands the unique dynamics of the luxury yacht industry, and I am confident in Sunseeker's potential for growth and innovation.”<img src="https://photo-assets.superyachttimes.com/photo/314631/image/large-dfcf3f04b7be8addfbbcdf680d80ab1b.jpg" data-gid="gid://syiq/Photo/314631">Orienta and Lionheart aim to utilise their expertise in the yachting sector, supported by a robust operational team dedicated to furthering Sunseeker's development. Maintaining its roots, <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a> will continue to operate as a quintessentially British company, with its main production facilities, workforce, and infrastructure located in Poole.Andrea Frabetti, CEO of <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a>, expressed confidence in the new leadership: “We are confident that under the new leadership, <a data-gid="gid://syiq/Company/354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunseeker (Company)">Sunseeker</a> will thrive and reach new heights. Our goal remains to deliver exceptional yachts that embody luxury, performance, and innovation, while honouring the legacy and vision of our founders.”<img src="https://photo-assets.superyachttimes.com/photo/308047/image/large-8327d3e80c4316d7b9db9f4cfea909c8.png" data-gid="gid://syiq/Photo/308047">

Sunseeker sold to Orienta Capital and Lionheart Capital

The acquisition marks the end of Sunseeker International's 11-year tenure under the ownership of China’s Dalian Wanda Group.