Abu Dhabi has unveiled the Golden Quay to Abu Dhabi initiative, designed to attract superyacht owners and high-net-worth individuals to invest in and explore the emirate. This initiative is a collaborative effort involving the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), the Abu Dhabi Investment Office (ADIO), and <a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas Marina</a>, operated by Yas Asset Management, a subsidiary of Miral.<img src="https://photo-assets.superyachttimes.com/photo/279559/image/large-2a6251e9c31bab8351c9a6883cef082c.jpg" data-gid="gid://syiq/Photo/279559">Read:&nbsp;<a data-gid="gid://syiq/Article/62232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Abu Dhabi Maritime Awards (Marinas Edition) 2024 winners announced (2024-12-16 10:30:00 +0100)">Abu Dhabi Maritime Awards (Marinas Edition) 2024 winners announced</a>The initiative provides eligible yacht owners the chance to be nominated for a 10-year UAE Golden Visa. This visa offers long-term residency and access to Abu Dhabi’s business ecosystem, luxury lifestyle, and world-class marinas. Through the Golden Quay to Abu Dhabi program, yacht owners gain access to the emirate's investment opportunities, fostering valuable business connections within Abu Dhabi’s economic landscape.&nbsp;Jonathan Brown, Chief Portfolio Officer at Miral, emphasised the significance of this initiative: “The Golden Quay initiative is poised to bolster Abu Dhabi’s position as a key yachting destination. We are proud to partner with DCT Abu Dhabi and ADIO. By extending the Golden Visa to <a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas Marina</a>’s yacht owners and industry executives, we aim to further establish <a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas</a> as a top global destination for entertainment and leisure. With its capacity to accommodate superyachts and its provision of world-class dining, fitness, and leisure facilities, <a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas Marina</a> is crucial to the success of this initiative.”<img src="https://photo-assets.superyachttimes.com/photo/209632/image/large-d76180302c523fc24754864f20a23eed.jpg" data-gid="gid://syiq/Photo/209632">Read: <a data-gid="gid://syiq/Article/62156" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Everything you missed from Day 1 of the Gulf Superyacht Summit 2024 (2024-12-05 13:30:00 +0100)">Everything you missed from Day 1 of the Gulf Superyacht Summit 2024</a><a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas Marina</a> and ADIO will serve as the official nominating entities under the initiative, selecting private yacht owners with vessels measuring 40-metres and above, as well as key industry executives including CEOs, major shareholders of yacht-building companies, central yacht agents, yacht service providers, and yacht insurance providers. Immediate family members of nominees are also eligible for inclusion.Commenting on this development, His Excellency Saleh Mohamed Al Geziry, Director General for Tourism at the Department of Culture and Tourism – Abu Dhabi, stated, “The launch of Golden Quay to Abu Dhabi showcases DCT Abu Dhabi's commitment to driving the emirate's luxury tourism and yachting sector forward. By enhancing our superyacht offering with seamless access to our exceptional marinas and exclusive opportunities like the 10-year Golden Visa, we are adding to Abu Dhabi’s already significant appeal as a world-class yachting destination. We continue to support the growth of the luxury sector by creating innovative pathways that attract investment and high-profile visitors to the emirate, in line with our Tourism Strategy 2030.”<img src="https://photo-assets.superyachttimes.com/photo/258124/image/large-7b57b4b6ab69f481686cf947cf21dec5.jpg" data-gid="gid://syiq/Photo/258124">Read: <a data-gid="gid://syiq/Article/62174" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="A full summary of Day 2 of the Gulf Superyacht Summit 2024 (2024-12-06 16:30:00 +0100)">A full summary of Day 2 of the Gulf Superyacht Summit 2024</a>DCT Abu Dhabi will play a crucial role in promoting the initiative across key tourism markets by supporting partners with tailored itineraries and providing tourism-related assistance during nominee visits. Working alongside its strategic partners, the department aims to ensure that superyacht owners and investors experience the epitome of Abu Dhabi’s blend of luxury, culture, and world-class hospitality.His Excellency Hareb Al Mheiri, Executive Director of ADIO, added, “This initiative not only connects superyacht owners to Abu Dhabi’s premier marinas and rich cultural experiences but also introduces high-net-worth individuals to the emirate’s exceptional investment opportunities and thriving business ecosystem. Golden Quay to Abu Dhabi underscores our commitment to creating diverse pathways for investors to engage with our vibrant economy, advancing the emirate’s vision for sustainable tourism growth in the region’s most liveable city.”<img src="https://photo-assets.superyachttimes.com/photo/285495/image/large-509e6a4c-4303-42de-97f1-d7c7a254408c.jpeg" data-gid="gid://syiq/Photo/285495">

Abu Dhabi launches Golden Quay to Abu Dhabi initiative

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Abu Dhabi has unveiled the Golden Quay to Abu Dhabi initiative, designed to attract superyacht owners and high-net-worth individuals.

Golden Quay to Abu Dhabi initiative launched

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

KKCG Maritime challenges Ferretti Group board appointments in court

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

Ferretti shareholder KKCG Maritime challenges board appointments in court

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has announced that the Court of Florence has partially lifted protective measures for five shipowners, following the company's ongoing negotiated crisis settlement procedure.<img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">On 16 March, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that it had initiated a negotiated settlement procedure under Italian Legislative Decree No. 14/2019, following internal financial irregularities. This legal framework aimed to enable them to restructure, while continuing to operate under the supervision of an independent expert.Following this, on 20 April, the Court of Florence granted protective measures for a maximum period of four months, restricting creditors from initiating or continuing enforcement actions against the company’s assets, including vessels currently under construction.The court also confirmed that these protective measures extended to shipowners, which prevented them from terminating their contracts of yachts currently under construction during the proceedings.The Court of Florence has now issued an order upholding the appeals filed by five shipowners which prevented them terminating their contracts. With respect to them it was also found that they were unable to exercise the other rights provided under their contracts.&nbsp;The court found that the yachts could not be covered by the protective measures because they were neither assets of the company, nor assets instrumental to its business operations.Read more:&nbsp;<a data-gid="gid://syiq/Article/66150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG enters restructuring phase after share capital falls below legal minimum (2026-05-22 11:15:00 +0200)">TISG enters restructuring phase after share capital falls below legal minimum</a><img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">The ruling also determined that the shipowners were not creditors against whom such measures could be applied and their right to obtain performance under the pending contract could not be satisfied through enforcement or interim measures.The order applies exclusively to the five shipowners who filed the appeals and has no effect on the other shipowners or creditors, with the previous measures remaining in effect for the duration already established by the Court.&nbsp;TISG also stated that these measures do not affect the ongoing negotiations with its main stakeholders, including shipowners, suppliers and financial institutions, as part of the company's economic and financial rebalancing plan which is currently in progress.The company also stated that, with regard to the affected shipowners, the substance of the contractual relationships remains unchanged despite the lifting of the protective measures.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> said it will continue to provide updates on developments relating to the procedure and any further initiatives undertaken in accordance with applicable regulations.

TISG: Florence court removes protections affecting five yacht contracts

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

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

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

Launch of Matterhorn yacht brokerage

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

Adam Papadakis and Kurt Fraser launch Matterhorn

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

Dörries Yachts construction facilities at Volkswerft Stralsund

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

Dörries Yachts agrees lease for new shipyard in Germany

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

SYDNA launches international association for superyacht designers and naval architects

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

SYDNA launches to represent superyacht designers and naval architects

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has announced plans to gradually increase activity across its shipyard operations, with the goal of returning to full operations in early June.In a statement issued today (27 May 2026), <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> stated that the shipyard's operational activities will be ‘progressively intensified’, amid the ongoing restructuring process. This follows last week’s announcement that the company’s share capital had fallen below the legal minimum.Read more: <a data-gid="gid://syiq/Article/66150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG enters restructuring phase after share capital falls below legal minimum (2026-05-22 11:15:00 +0200)">TISG enters restructuring phase after share capital falls below legal minimum</a><img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">According to <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, the company aims to reach full operations, starting from the first ten days of June. They stated that a rebalancing process remains underway through previously identified strategic measures, with cash management and operational financial dynamics continuing to be monitored.CEO Giovanni Costantino confirmed that the restructuring process is being developed with the support of top-tier advisors, but also criticised certain trade union organisations, which he described as “superficial” and “provocative” to the situation.&nbsp;“Rather than working together constructively and contributing during such a crucial phase in the life of the company, figures are being cited at random with no understanding whatsoever of the actual business situation,” commented Giovanni Costantino.&nbsp;The company also provided updates on several key projects currently under construction, including the first unit of the new 49.95-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Panorama 50M line, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a>, which recently completed sea trials and is scheduled for delivery in the first days of July, and the second hybrid unit, which will be launched in the first ten days of July, with delivery expected in September.Read more: <a data-gid="gid://syiq/Article/64891" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="50m Admiral Yachts Panorama series motor yacht Spribe launched (2025-12-02 15:00:00 +0100)">50m Admiral Yachts Panorama series motor yacht Spribe launched</a><img src="https://photo-assets.superyachttimes.com/photo/379687/image/large-11f9a8770e46f4ce46a8fb5632b8a7c1.jpg" data-gid="gid://syiq/Photo/379687">Meanwhile, the 31-metre <a data-gid="gid://syiq/Article/64789" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First 31m Tecnomar for Lamborghini 101 yacht moves to outfitting (2025-11-17 15:45:00 +0100)">Tecnomar for Lamborghini 101</a> yacht is currently undergoing the final stages of carpentry works at the Group’s Turkish facilities before being transferred to Italy in mid-June for outfitting. Construction of an additional 88-metre project is also progressing to schedule, with the yacht expected to arrive in Italy in October for completion works.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> also confirmed progress on its larger custom projects, including recently signed 82-metre and 85-metre builds acquired at the end of 2025. Both projects are currently in the detailed design phase, with keel-laying ceremonies expected to take place between July and September at the Group’s facilities in Turkey.&nbsp;The company added that activities within its refit division have continued without interruption, with operations at <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">CELI 1920</a>, the Group’s interior and cabinetry division, progressing in line with planned schedules.In addition, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> confirmed that it will participate in the 2026 edition of the <a data-gid="gid://syiq/Event/338" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2026">Monaco Yacht Show</a>, scheduled to take place this September.

The Italian Sea Group aims for full operations by June 

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

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

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> is facing a serious financial setback and has entered a formal court-supervised restructuring process in an effort to stabilise the business.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">In a forensic due diligence update, the company said it has recorded losses significant enough to reduce its share capital below the minimum level required under Italian law. This has triggered a material event under Article 2447 of the Italian Civil Code, which in turn requires mandatory corporate action and the activation of protective measures under Italy’s Crisis and Insolvency Code.The Board of Directors met on 21 May 2026 to address what it described as significant losses. <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> confirmed that it is now operating within a formal restructuring framework as it works to address the financial shortfall and restore its capital position.&nbsp;The update follows an announcement in April 2026, where <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> confirmed that the court of Florence had granted protective measures as part of its negotiated composition procedure to restructure the company.Read: <a data-gid="gid://syiq/Article/65905" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group secures court protection amid company restructuring (2026-04-21 09:30:00 +0200)">The Italian Sea Group secures court protection amid company restructuring</a><img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">The ruling comes following a criminal complaint filed by Chief Executive Officer Giovanni Costantino against certain former senior executives of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> who headed corporate functions and allegedly acted in coordination with one another.According to the company, preliminary assessments show that accumulated losses have reduced share capital below the legal minimum threshold required under Italian corporate law.&nbsp;While the exact figure has yet to be determined, the board confirmed that statutory obligations have been triggered, including the convening of a shareholders’ meeting and the preparation of updated financial statements.The board also approved the guidelines of a broader turnaround plan aimed at restoring financial stability and maintaining business continuity. The company stated that the plan is intended to preserve ongoing concern status, while rebalancing equity within the current financial year.The proposed measures include renegotiations with multiple ship owning companies to recover extra costs on existing contracts, the revaluation of real estate assets, potential disposal of non-core property assets and the possibility of positive effects arising from an agreement with tax authorities.The board said it believes the underlying assumptions of the plan provide a reasonable basis for overcoming the current financial difficulties, while continuing to operate across its shipbuilding and refit divisions.The company also acknowledged the causes of the crisis to misconduct by certain senior managers acting in coordination.&nbsp;Read: <a data-gid="gid://syiq/Article/65584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG files complaint against former executives following forensic investigation (2026-03-10 09:15:00 +0100)">TISG files complaint against former executives following forensic investigation</a><img src="https://photo-assets.superyachttimes.com/photo/355527/image/large-10e2f4203acc580bab536674f4910115.jpg" data-gid="gid://syiq/Photo/355527">As part of the restructuring framework, the company has also activated protective measures under Article 20 of Legislative Decree 14/2019, designed to safeguard operations while restructuring actions are implemented. The filing will take effect upon registration with the Companies’ Register.On 2 March, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that it had appointed KPMG to conduct an independent forensic investigation after it had identified significant extra-budget costs across its order portfolio.According to <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, the due diligence conducted by KPMG Advisory, originally initiated in February 2026, has been delayed due to the prioritisation of business continuity measures and changes in senior management. The completion of the review is now expected by late June or early July 2026.The company also confirmed it will continue to update the market as required under EU Market Abuse Regulation obligations.

TISG share capital falls below legal minimum

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

TISG enters restructuring phase after share capital falls below legal minimum

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

Ferretti Group reports lower Q1 revenue as order intake falls

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

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

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

Off The Hook Yacht Sales to rebrand as NextBoat

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

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

Safe Harbor’s Monaco Marine acquisition

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

Behind the Safe Harbor rebrand of Monaco Marine

Onboard Numarine's 40MXP video

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

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

<a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> has announced the launch of the first 34.5-metre <a data-gid="gid://syiq/Yacht/14712" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line Navetta 35/0134.5m (113'2&quot;)Custom Line2026">Custom Line Navetta 35</a> yacht from the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> Superyacht Yard in Ancona, Italy. <img src="https://photo-assets.superyachttimes.com/photo/396958/image/large-5e7320ad24519c237c36a53098354f77.jpg" data-gid="gid://syiq/Photo/396958">Launched as the first hull in the series, her sale was announced in February 2026 and was described as an evolution of the yard’s Navetta series, with a strong emphasis on natural light and onboard comfort.<img src="https://photo-assets.superyachttimes.com/photo/396965/image/large-f591300f74ebc39eedd4b608a54aafad.jpg" data-gid="gid://syiq/Photo/396965">Positioned alongside her larger sistership, the <a data-gid="gid://syiq/Yacht/14712" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line Navetta 35/0134.5m (113'2&quot;)Custom Line2026">Navetta 35</a> yacht adopts the same core design language, defined by clean architectural forms. She features exterior design by <a data-gid="gid://syiq/Company/5547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Filippo Salvetti (Company)">Filippo Salvetti</a>, with interior design courtesy of <a data-gid="gid://syiq/Company/5082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Antonio Citterio Patricia Viel (Company)">Antonio Citterio Patricia Viel ACPV Architects</a>.<img src="https://photo-assets.superyachttimes.com/photo/396962/image/large-617932259e73d86b11853e427c103d6c.jpg" data-gid="gid://syiq/Photo/396962">According 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>, she features almost transparent naval architecture, which puts the sea at the centre of the onboard experience. The result is a fluid interconnection between her interior and exterior spaces, creating a sense of pleasure, elegance and comfort. <img src="https://photo-assets.superyachttimes.com/photo/396961/image/large-0a092e8dc97dc3153475abfe97a6c724.jpg" data-gid="gid://syiq/Photo/396961">The made-to-measure yacht boasts a beam of 7.7 metres, with her layout spanning over three decks. Defined by a contemporary exterior design and dynamic silhouette, she showcases clean lines and sculptural surfaces.<img src="https://photo-assets.superyachttimes.com/photo/396969/image/large-fe622ffb38debd908229c092316cd7b0.jpg" data-gid="gid://syiq/Photo/396969">Moving inside, her design language soft volumes, organic geometries and custom-made freestanding furniture designed by Antonio Citterio. <a data-gid="gid://syiq/Company/5082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Antonio Citterio Patricia Viel (Company)">ACPV Architects</a> also developed a Light Mood based on the owner’s wishes, blending ivory, beige and caramel colourways that run throughout to create more depth, luminosity and lightness.<img src="https://photo-assets.superyachttimes.com/photo/396971/image/large-c650afb8a72cefaf8e5423baa63cb41f.jpg" data-gid="gid://syiq/Photo/396971">A plethora of materials have been used onboard including vibrant Pietra di Vicenza stone, pale wood floors and sand-coloured leather used for upholstery and detailing to create a warm and refined atmosphere.<img src="https://photo-assets.superyachttimes.com/photo/396968/image/large-589c2327e3af86ff0ec7f9f12976d9a2.jpg" data-gid="gid://syiq/Photo/396968">The <a data-gid="gid://syiq/Yacht/14712" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line Navetta 35/0134.5m (113'2&quot;)Custom Line2026">Custom Line Navetta 35</a> yacht can accommodate up to 10 guests across a five stateroom configuration, with her full-beam owner’s suite positioned forward on the main deck. This private suite includes separate his-and-hers bathrooms connected by a shared central shower.On the lower deck, four guest staterooms are accessed via a dedicated lobby, including one suite fitted with a Pullman berth to accommodate additional guests.<img src="https://photo-assets.superyachttimes.com/photo/396967/image/large-daf41f6c8e4667a26d0c94a5c2da5280.jpg" data-gid="gid://syiq/Photo/396967">A distinct feature in her exterior design is the notch in her gunwale, which aims to reduce the perceived mass of her superstructure, and allow for an increase of natural light to her interior spaces, creating an overall more streamlined profile and a further sense of openness.<img src="https://photo-assets.superyachttimes.com/photo/396959/image/large-11aefd747e74b0e1b138c75019a77552.jpg" data-gid="gid://syiq/Photo/396959">With over 300 square-metres of indoor and outdoor space, her flybridge deck stands out thanks to the removal of her staircases for a wider, more versatile deck arrangement. The deck includes a Jacuzzi and expansive lounging areas, while forward freestanding furniture and a sunset lounge area offer unobstructed panoramic views.<img src="https://photo-assets.superyachttimes.com/photo/396966/image/large-fd63e11f2451c5ecbd08c2c0bee0bfbb.jpg" data-gid="gid://syiq/Photo/396966">Her sundeck features an open-air sea view pool, while covered areas provide shade and protection, ensuring usability in a range of conditions. On the main deck aft, a lounge area provides direct access to the beach club.<img src="https://photo-assets.superyachttimes.com/photo/396970/image/large-51cbdc442951e7cf1dbc94e3b2a79f09.jpg" data-gid="gid://syiq/Photo/396970">In terms of performance, the standard <a data-gid="gid://syiq/Yacht/14712" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line Navetta 35/0134.5m (113'2&quot;)Custom Line2026">Navetta 35</a> yacht 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> V12 1,400 horsepower engines, providing her with a top speed of 15 knots and a cruising speed of 12 knots. She can also reach a range of 1,750 nautical miles at an economic cruising speed of 10 knots. There is also an option to install twin Caterpillar C32 1,622 horsepower engines, which would propel the Navetta 35 yacht to a top speed of 16 knots.The second and third hulls are currently sold and already in-build, with a delivery date of 2027.

Custom Line Navetta 35: First yacht launched

Custom Line has announced the launch of the first 34.5-metre Custom Line Navetta 35 yacht from the Ferretti Group Superyacht Yard in Ancona, Italy. 

First Custom Line Navetta 35 yacht launched

<a data-gid="gid://syiq/Company/102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mulder Design (Company)">Mulder Design</a> has unveiled the first details of the 60-metre superyacht concept Apex. Designed in-house by the Dutch studio, the motor yacht has been conceived around a performance-oriented brief.<img src="https://photo-assets.superyachttimes.com/photo/396926/image/large-419221d207de5e8d99df4c3ee8096ce5.jpg" data-gid="gid://syiq/Photo/396926">Apex features naval architecture and exterior styling by <a data-gid="gid://syiq/Company/102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mulder Design (Company)">Mulder Design</a>, which have opted for a lightweight aluminium hull and superstructure. She showcases a clean and highly geometric exterior design, with extensive glazing spanning her sleek silhouette.At the core of the design lies the <a data-gid="gid://syiq/Company/102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mulder Design (Company)">Mulder Design</a> High Speed Cruising hull form, which has been engineered to deliver efficient performance across a wide operational profile. The advanced hull platform of Apex&nbsp;operates comfortably and efficiently from economical transoceanic passages to high-speed cruising.<img src="https://photo-assets.superyachttimes.com/photo/396927/image/large-c596a59bc5ef08f7d483435fc198b0fa.jpg" data-gid="gid://syiq/Photo/396927">With a beam of 10.7 metres, Apex can comfortably accommodate up to 12 guests, as well as a crew of 14 for a high level of service and comfort. Her interior design can also be fully tailored to suit the wishes of her owner.&nbsp;Apex displays balanced expansive deck volumes, with her aft deck maximised to create a social platform for guests onboard. The first renderings show a large alfresco lounge area at her bow, offering the perfect space for guests to entertain or relax.&nbsp;In terms of performance, Apex 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 with a top speed of 28 knots, a cruising speed of 22 knots and a range of 4,500 nautical miles at 13 knots.&nbsp;

Apex: 60m Mulder Design yacht concept unveiled

Mulder Design has unveiled the first details of the 60-metre superyacht concept Apex. 

Mulder Design unveils 60m yacht concept Apex designed for performance 

This article is featured as a guest post by Michel L'Ortye, the second generation of&nbsp;<a data-gid="gid://syiq/Company/8888" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Paul L'Ortye Yacht Insurance (Company)">Paul L'Ortye</a>&nbsp;Superyacht Insurance.In superyacht insurance, ''the difference is rarely found in what is covered, but in how it is worded''. At first glance, two insurance proposals may appear comparable. Similar limits, familiar terminology, and a competitive premium. Yet beneath the surface, the real differences emerge in structure, interpretation, and legal context.We asked ChatGPT to compare two superyacht insurance proposals. The outcome was structured, fast, and seemingly logical. But it also revealed a fundamental limitation: without true contextual understanding, critical differences remain unseen.This article highlights where that gap lies, and why specialist expertise remains essential.<img src="https://photo-assets.superyachttimes.com/photo/396822/image/large-d04de7387341e559ee1e637ffd910549.jpg" data-gid="gid://syiq/Photo/396822">1. Failure to understand layered policy structures and how clauses interact and override one anotherFor example, ChatGPT does not understand layered policy structures or how clauses interact and override one another.Policy wordings are built as layered legal frameworks, where clauses interact, override, or apply conditionally. AI tends to read them as isolated statements rather than as part of a structured system. Each insurer applies its own structure and hierarchy within the wording, often influenced by the applicable jurisdiction and its legal framework.For example, Policy A may state “worldwide navigation,” while Policy B specifies “worldwide excluding war zones.” ChatGPT may conclude that A offers broader coverage. In reality, Policy A may contain a separate war exclusion clause elsewhere in the wording that has the same, or even stricter, effect.2. Comparing apples with orangesOne operates on a Named Perils basis (only explicitly listed risks), the other on an All Risks basis (everything is covered unless excluded). The same term, but a completely different scope. ChatGPT sees “Hull &amp; Machinery” twice and concludes it is comparable, while the difference in coverage for a machinery breakdown or latent defect can amount to hundreds of thousands of euros.<img src="https://photo-assets.superyachttimes.com/photo/396820/image/large-aa15c287e8791d5230e10db1b947032c.jpg" data-gid="gid://syiq/Photo/396820">3. Deductibles and sub-limits are overlookedAI tends to focus on the main coverage and premium, while the real differences are often found in the sub-limits. These include maximum payouts per incident for tenders, crew medical limits per person, and differing deductibles for machinery damage versus navigational incidents. Such details are typically scattered throughout the policy and are easily missed.It also struggles to recognise requirements for minimum underlying covers, such as mandatory national healthcare or other primary insurance arrangements. These elements can be critical to the validity and effectiveness of the coverage, yet are rarely identified without expert review.4. What is NOT included remains invisibleChatGPT can only compare what is written. It cannot identify what is missing. No cyber clause? AI will not flag it, because there is nothing to read. A specialist, however, knows what should be there and recognises the gap immediately.It also lacks the ability to properly assess how coverage is structured. Policies may appear comparable, while in reality one is based on an all risks foundation and another on named perils, or where insurers apply their own wording with a tailored definition of “all risks.” These structural differences ultimately determine what is and is not covered, yet remain largely invisible without expert interpretation.<img src="https://photo-assets.superyachttimes.com/photo/396862/image/large-15929412d50cbaf94d80733c90eaecca.jpg" data-gid="gid://syiq/Photo/396862">5. ConfidentialityOwners upload commercially sensitive documents to a public AI. Vessel values, cruising areas, crew details, claims history, all of this is shared with external servers. For high-profile owners, this represents a serious privacy risk.6. “Cheaper = better” biasAI tends to conclude that the lower-priced option offers “comparable coverage.” In marine insurance, however, a lower premium is almost always a reflection of reduced coverage, higher deductibles, or an insurer with a weaker claims reputation. It also lacks the ability to properly weigh subtle but critical differences in policy wording, such as a depreciation clause on masts and rigging, or to recognise exclusions that carry the same practical meaning but are phrased differently, such as a market value clause applied to running and standing rigging, which in practice can largely have the same effect.<img src="https://photo-assets.superyachttimes.com/photo/396821/image/large-5911d8a80dbdc0631242e59608f5517a.jpg" data-gid="gid://syiq/Photo/396821">7. Jurisdiction and applicable lawThe governing law of a yacht policy determines how policy wording is interpreted at claim stage. The same wording can produce a very different outcome depending on the legal system behind it.This becomes particularly relevant in areas such as disclosure duties, warranties and gross negligence. Under some systems, sailing outside marked channels or ignoring a weather warning may already qualify as gross negligence, with a direct impact on the claim payment. Other systems apply a more proportional approach, or require a much higher degree of misconduct before cover can be reduced or declined.One policy may therefore respond very differently from another, despite similar wording and circumstances. These legal differences can have a major impact on the final claim outcome, yet in practice the governing law is often treated as little more than a footnote.Michel L'Ortye is the second generation of&nbsp;<a data-gid="gid://syiq/Company/8888" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Paul L'Ortye Yacht Insurance (Company)">Paul L'Ortye</a>&nbsp;Yacht Insurance, the family business&nbsp;that his father founded in 1978 and which focuses entirely on yacht insurance. Joining the company full-time over ten years ago, Michel has been working alongside his brother Didier, who leads the in-house claims operation. Michel's focus is on the high-end yacht and superyacht segment.

Guest author Michel L'Ortye compares an AI insurance proposal to a handwritten one. 

Can ChatGPT create your yacht insurance proposal?

Delivered in 2004 from Kaag, the Netherlands, the 86-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> was once the largest <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> yacht ever built. Recently photographed in St Tropez, SuperYacht Times takes a closer look at the steel superyacht that was built for speed. <img src="https://photo-assets.superyachttimes.com/photo/395950/image/large-78d864b2d934f5f50740eb7c6a29e533.jpg" data-gid="gid://syiq/Photo/395950">Commissioned for Russian business oligarch and politician Roman Abramovich, <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> was inspired by the 49.5-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/684" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sussurro49.5m (162'5&quot;)Feadship1998">Sussurro</a>. Launched in 1998, <a data-gid="gid://syiq/Yacht/684" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sussurro49.5m (162'5&quot;)Feadship1998">Sussurro</a> used aviation-industry specs, allowing her to reach an incredible 46 knots. <img src="https://photo-assets.superyachttimes.com/photo/395954/image/large-62905994bb01b749a975ff697414f3e9.jpg" data-gid="gid://syiq/Photo/395954">Much like the owner of <a data-gid="gid://syiq/Yacht/684" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sussurro49.5m (162'5&quot;)Feadship1998">Sussurro</a>, Abramovich was a keen diver and wanted to up the ante of <a data-gid="gid://syiq/Yacht/684" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sussurro49.5m (162'5&quot;)Feadship1998">Sussurro</a>. Rather than creating a larger version, he sought to build a yacht that was capable of combining long-range cruising with exceptional top-end performance. However, Abramovich liked&nbsp;<a data-gid="gid://syiq/Yacht/684" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sussurro49.5m (162'5&quot;)Feadship1998">Sussurro</a> so much, he actually purchased the yacht several years later.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/395960/image/large-fefa85fc5dee7d132c3e58941b4d3ace.jpg" data-gid="gid://syiq/Photo/395960">Known for their high-speed yachts and crazily complex technical engineering requirements, the contract for the <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> 790 yacht was signed in 2000, with construction beginning shortly thereafter. <img src="https://photo-assets.superyachttimes.com/photo/395955/image/large-105bb1a107567d475aca711626d08538.jpg" data-gid="gid://syiq/Photo/395955">Unlike conventional displacement yachts of her size, <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> was equipped with a unique propulsion package, combining four <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> 16V 4000 M70 diesel engines of 12,444 horsepower, with a <a data-gid="gid://syiq/Company/1992" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="General Electric (Company)">General Electric</a> LM2500 gas turbine which produces 30,843 horsepower.<img src="https://photo-assets.superyachttimes.com/photo/395953/image/large-e99a5cd6bb7a94017b38d6379e2cf1eb.jpg" data-gid="gid://syiq/Photo/395953">Together, the system generates more than 43,000 horsepower, with her diesel engines powering twin propellers for efficient cruising, while her gas turbine is connected to a large waterjet integrated into the yacht's stern, providing her with an additional boost of power.<img src="https://photo-assets.superyachttimes.com/photo/395959/image/large-57fa364d6428aed146796b54eec710e1.jpg" data-gid="gid://syiq/Photo/395959">The result allows <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> to exceed 30 knots and under diesel power alone, the yacht can reportedly reach 25 knots and cruise comfortably at around 22 knots, a remarkable achievement for an 86-metre superyacht at the time of her launch.<img src="https://photo-assets.superyachttimes.com/photo/395951/image/large-63005575fa834528f357d86247188cf2.jpg" data-gid="gid://syiq/Photo/395951">Despite her impressive performance credentials, <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> was conceived first and foremost as a luxury superyacht, combining a sleek hull form with an unusually ambitious speed requirement for a vessel of her size. She features exterior design by <a data-gid="gid://syiq/Company/30" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="De Voogt Naval Architects (Company)">De Voogt Naval Architects</a>, with interior design penned by <a data-gid="gid://syiq/Company/2" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Terence Disdale Design (Company)">Terence Disdale Design</a>.<img src="https://photo-assets.superyachttimes.com/photo/395961/image/large-7227a5562f136cbb3a394c2158974fa5.jpg" data-gid="gid://syiq/Photo/395961"><a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> boasts an Asian-inspired interior, which later went on to win several interior design awards. Rich woods are used through in tones of brown and beige, complemented by stone, glass and marble elements. <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> can comfortably accommodate up to 14 guests across a seven stateroom configuration, alongside a crew of 24. <img src="https://photo-assets.superyachttimes.com/photo/395958/image/large-49e6ee1d492528cc251472df2de109ba.jpg" data-gid="gid://syiq/Photo/395958">One of <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a>'s most distinctive features is her enormous opening in her stern, which houses the outlet nozzle for the yacht's waterjet propulsion system. As well as this, she is equipped with a helicopter hangar by <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> on her bow, with her horizontal sliding hatches completely hidden in terms of both style and technical skill.<img src="https://photo-assets.superyachttimes.com/photo/395952/image/large-1ddd66b1bacbe1579b97649f705483ad.jpg" data-gid="gid://syiq/Photo/395952">In 2009, <a data-gid="gid://syiq/Yacht/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea86.0m (282'2&quot;)Feadship2004">Ecstasea</a> was sold with <a data-gid="gid://syiq/Company/322" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Merle Wood & Associates, Inc. (Company)">Merle Wood &amp; Associates</a> representing the seller, before she was sold to her current owner in June 2014, with <a data-gid="gid://syiq/Company/322" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Merle Wood & Associates, Inc. (Company)">Merle Wood &amp; Associates</a> and <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> representing the seller.

Ecstasea: The Feadship yacht that was built for speed

SuperYacht Times takes a closer look at the 86m Feadship superyacht Ecstasea that was built for speed.

Ecstasea: The 86m Feadship superyacht that was built for speed

The 37.04-metre <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> motor yacht <a data-gid="gid://syiq/Yacht/6475" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Willpower37.04m (121'6&quot;)Custom Line2018">Willpower</a> is currently for sale with Nathan Farrelly of <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a>. According to AIS, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> is currently moored at Mergellina, Italy.<img src="https://photo-assets.superyachttimes.com/photo/396809/image/large-2e2f72082cb9d6be974658c352b9ff39.png" data-gid="gid://syiq/Photo/396809">Delivered in 2018 by the Italian shipyard, <a data-gid="gid://syiq/Yacht/6475" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Willpower37.04m (121'6&quot;)Custom Line2018">Willpower</a> is the fifth hull of the acclaimed Navetta 37 series, and was previously named Singolare. According to <a href="https://sytiq.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SuperYacht IQ</a>, the vessel most recently underwent a refit in 2024.<img src="https://photo-assets.superyachttimes.com/photo/396799/image/large-cb91eb19376fc79fc128701033e6088b.jpg" data-gid="gid://syiq/Photo/396799"><img src="https://photo-assets.superyachttimes.com/photo/396797/image/large-edd16fb224fc895a7b0998f4fbfb1412.jpg" data-gid="gid://syiq/Photo/396797" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Constructed with a GRP hull and superstructure, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> has a beam of eight metres and a draft of 2.27-metres. The <a data-gid="gid://syiq/Yacht/6475" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Willpower37.04m (121'6&quot;)Custom Line2018">yacht Willpower&nbsp;for sale</a> features exterior design crafted by <a data-gid="gid://syiq/Company/105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuccon International Project (Company)">Zuccon International Project</a>, with naval architecture developed in-house by her builder.<img src="https://photo-assets.superyachttimes.com/photo/396798/image/large-02249037d1c2a2989df8b1791e57b7a2.jpg" data-gid="gid://syiq/Photo/396798">Outside, <a data-gid="gid://syiq/Yacht/6475" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Willpower37.04m (121'6&quot;)Custom Line2018">Willpower</a> is defined by clean lines and expansive glazing, complemented by outdoor living spaces designed for entertaining and relaxing while soaking in the sun. Highlights on deck include a sundeck complete with a Jacuzzi, sunpads, and plush lounge seating, alongside a dedicated beach club and dining areas to enjoy alfresco meals spread across her decks.<img src="https://photo-assets.superyachttimes.com/photo/396800/image/large-7ed77b76a8538356af449564b4e11aa0.jpg" data-gid="gid://syiq/Photo/396800">Stepping inside, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/built-by=custom-line" rel="noopener noreferrer" target="_blank" title="">Custom Line yacht for sale</a> embraces a sophisticated yet welcoming interior characterised by dark timber finishes with soft neutral furnishings and subtle pops of colour. Her main saloon benefits from large windows that flood the space with natural light, while an open-plan layout encourages socialising between guests.<img src="https://photo-assets.superyachttimes.com/photo/396801/image/large-a4c2d5688c1105f6d0644b46b2660e84.jpg" data-gid="gid://syiq/Photo/396801"><img src="https://photo-assets.superyachttimes.com/photo/396802/image/large-75b4e4b99b7264611c2111f286a068ab.jpg" data-gid="gid://syiq/Photo/396802">With a beam of eight-metres and an internal volume of 289 GT, accommodation onboard the<a data-gid="gid://syiq/Yacht/6475" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Willpower37.04m (121'6&quot;)Custom Line2018">&nbsp;yacht Willpower for sale</a> is arranged for up to 11 guests across five well-appointed staterooms, including a full-beam owner's suite on her main deck. Dedicated quarters are also provided for up to seven crew members, including her captain.<img src="https://photo-assets.superyachttimes.com/photo/396815/image/large-76ce398f780d881b0884aac15acb353d.jpg" data-gid="gid://syiq/Photo/396815">In terms of performance, the <a data-gid="gid://syiq/Yacht/6475" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Willpower37.04m (121'6&quot;)Custom Line2018">yacht Willpower for sale</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 top speed of 15.5 knots. Moreover, she can travel about 2,300 nautical miles at her cruising speed.&nbsp;

 37m Custom Line motor yacht Willpower for sale

 The 37.04-metre Custom Line motor yacht Willpower is currently for sale with Edmiston.

37m Custom Line motor yacht Willpower for sale

The 50.2-metre <a data-gid="gid://syiq/Company/615" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dearsan Gemi Insaat Sanayii A.S. (Company)">Dearsan</a> superyacht <a data-gid="gid://syiq/Yacht/13601" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Queen Yaz50.2m (164'8&quot;)Dearsan Gemi Insaat Sanayii A.S.2026">Queen Yaz</a> has been launched from the <a data-gid="gid://syiq/Company/615" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dearsan Gemi Insaat Sanayii A.S. (Company)">Dearsan</a> shipyard in Tuzla, Istanbul. <img src="https://photo-assets.superyachttimes.com/photo/396859/image/large-66e26da04a7b7aeb2bcef3c2456e5bab.jpg" data-gid="gid://syiq/Photo/396859">Construction on <a data-gid="gid://syiq/Yacht/13601" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Queen Yaz50.2m (164'8&quot;)Dearsan Gemi Insaat Sanayii A.S.2026">Queen Yaz</a> began in 2022, with interior and exterior design by <a data-gid="gid://syiq/Company/4720" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Red Yacht Design (Company)">Red Yacht Design</a>, with naval architecture by <a data-gid="gid://syiq/Company/8047" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MilimetriQ (Company)">MilimetriQ</a>. As one of <a data-gid="gid://syiq/Company/4720" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Red Yacht Design (Company)">Red Yacht Design</a>’s flagship projects, she collaborated with multiple shipyards, with project management by <a data-gid="gid://syiq/Company/8085" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MORE Marine (Company)">More Marine</a>.<img src="https://photo-assets.superyachttimes.com/photo/345749/image/large-f493bef8678282c7ba3acb9e015ee416.jpg" data-gid="gid://syiq/Photo/345749">Spanning 488 GT, boasts a warm and inviting interior design, with light tones and natural materials. Every detail has been thoughtfully designed to cater to the owner’s vision, blending contemporary aesthetics with comfort.<img src="https://photo-assets.superyachttimes.com/photo/345748/image/large-62d292dbc41853588cfb4bb25e099a9f.jpg" data-gid="gid://syiq/Photo/345748">Key features onboard <a data-gid="gid://syiq/Yacht/13601" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Queen Yaz50.2m (164'8&quot;)Dearsan Gemi Insaat Sanayii A.S.2026">Queen Yaz</a> include an aft lounge, along with an expansive bow lounge located on the main deck, both of which lend themselves to outdoor relaxation or socialising. She is also equipped with a Jacuzzi, sunbeds, lounge sofas, a bar and an alfresco dining area.<img src="https://photo-assets.superyachttimes.com/photo/396858/image/large-09e90c9bfcadd193dbfec4a24b5dbcab.jpg" data-gid="gid://syiq/Photo/396858">Built with a steel hull and aluminium superstructure, <a data-gid="gid://syiq/Yacht/13601" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Queen Yaz50.2m (164'8&quot;)Dearsan Gemi Insaat Sanayii A.S.2026">Queen Yaz</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.&nbsp;

Queen Yaz: 50m Dearson yacht launched

The 50.2-metre Dearsan superyacht Queen Yaz has been launched from the Dearson shipyard in Tuzla, Istanbul. 

50m Dearsan superyacht Queen Yaz launched

The 24.38-metre <a data-gid="gid://syiq/Company/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burger Boat Company (Company)">Burger Boat Company</a> motor yacht <a data-gid="gid://syiq/Yacht/4654" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Summer Song24.38m (79'12&quot;)Burger Boat Company1974">Summer Song</a> has been sold. Dan Wood of <a data-gid="gid://syiq/Company/4755" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Crow's Nest Yachts (Company)">Crow's Nest Yachts</a> introduced the buyer, while <a data-gid="gid://syiq/Company/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burger Boat Company (Company)">Burger Boat Company</a> represented the seller.<img src="https://photo-assets.superyachttimes.com/photo/201050/image/large-b33744a281cd0a44ca553674c1cecec5.png" data-gid="gid://syiq/Photo/201050">Delivered in 1974, the yacht was previously named Nobility and was designed inside and out by her builder. Moreover, <a data-gid="gid://syiq/Yacht/4654" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Summer Song24.38m (79'12&quot;)Burger Boat Company1974">Summer Song</a> benefitted from a refit in 2025 in <a data-gid="gid://syiq/Company/13" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bradford Marine, Inc. (Company)">Bradford Marine’s</a> facility in Fort Lauderdale, Florida.She can accommodate guests in her full-beam owner’s suite with queen berth, vanity, bureau and hanging locker. Meanwhile, her guests can sleep in two VIP suites, complete with twin berths and ensuite heads with enclosed showers.In terms of propulsion system, <a data-gid="gid://syiq/Yacht/4654" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Summer Song24.38m (79'12&quot;)Burger Boat Company1974">Summer Song</a> is powered by twin <a data-gid="gid://syiq/Company/1474" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="General Motors (Company)">General Motors</a> engines, giving her a cruising speed of 12 knots and a top speed of 14 knots.Photo courtesy of <a data-gid="gid://syiq/Company/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burger Boat Company (Company)">Burger Boat Company</a>.

burger yacht summer song sold

The 24.38-metre Burger Boat Company motor yacht Summer Song has been sold.

24m Burger motor yacht Summer Song sold

German shipyard <a data-gid="gid://syiq/Company/5563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="YYachts (Company)">YYachts</a> has announced the appointment of Gregor Bredenbeck, who will take responsibility for sales and international expansion. He will oversee the worldwide sales operations of the shipyard, effective 1 June.<img src="https://photo-assets.superyachttimes.com/photo/396854/image/large-ef1cbdd6f2dcc9b8b9f7744e6ee5c394.jpg" data-gid="gid://syiq/Photo/396854">His role will also focus on advancing the international growth of the <a data-gid="gid://syiq/Company/5563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="YYachts (Company)">YYachts</a> brand, while further developing its brokerage and charter divisions.Gregor commented on his appointment: “I felt it was time for a new challenge in my professional career, and I did not have to think twice when <a data-gid="gid://syiq/Company/5563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="YYachts (Company)">YYachts</a> approached me. I have worked with several of my new colleagues in the past, and over recent years <a data-gid="gid://syiq/Company/5563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="YYachts (Company)">YYachts</a> has built a truly exceptional team.”He brings decades of experience to the role, beginning in 1990 when he started building racing yachts. Gregor then moved into the sales of premium yachts, spending many years working with discerning international clients.<a data-gid="gid://syiq/Company/5563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="YYachts (Company)">YYachts</a> founder Michael Schmidt concluded: “Gregor and I have successfully completed numerous projects together over the years. I have always admired the professionalism he demonstrated in every role he held. With Gregor onboard, we are entering a new chapter in the development of our global sales activities.”

Gregor Bredenbeck joins YYachts sales

German shipyard YYachts has announced the appointment of Gregor Bredenbeck.

YYachts appoints Gregor Bredenbeck in worldwide sales operations role

The 2024 Abu Dhabi Maritime Awards Marina Edition concluded last month with a total of 120 submissions from marinas in eight countries across the MENAT region. Taking place during the Abu Dhabi International Boat Show, the event celebrated the achievements of marinas across the globe. <img src="https://photo-assets.superyachttimes.com/photo/341280/image/large-c1f52d327894248d3c729e93262d3488.jpg" data-gid="gid://syiq/Photo/341280">Under the patronage of His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in the Al Dhafra Region, and in cooperation with the Integrated Transport Centre (Abu Dhabi Mobility), <a data-gid="gid://syiq/Company/6497" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Abu Dhabi Maritime (Company)">Abu Dhabi Maritime</a>, the awards were presented across seven categories.Each category had a gold, silver and bronze winner, with a total of 21 awards presented. The top award of the night was the Outstanding Marina award, which was presented to D-Marin Turgutreis, Türkiye, with the silver award going to <a data-gid="gid://syiq/Company/4263" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin Göcek (Company)">D-Marin Göcek</a>, Türkiye and the bronze to D-Marin Didim, Türkiye.<img src="https://photo-assets.superyachttimes.com/photo/341279/image/large-f7ead66919ca39b1c2ba3b47f77a2f57.jpg" data-gid="gid://syiq/Photo/341279">Employer Excellence Award<ul><li>Gold – <a data-gid="gid://syiq/Company/7174" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palm Jumeirah Marinas (Company)">Palm Jumeirah Marina</a>, UAE</li><li>Silver – <a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas Marina</a>, UAE</li><li>Bronze – Aldar Marina, UAE</li></ul>Health &amp; Safety Award<ul><li>Gold – <a data-gid="gid://syiq/Company/6804" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai Harbour Marina (Company)">Dubai Harbour</a>, UAE</li><li>Silver – <a data-gid="gid://syiq/Company/7174" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palm Jumeirah Marinas (Company)">Palm Jumeirah Marina</a>, UAE</li><li>Bronze – <a data-gid="gid://syiq/Company/2583" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Emirates Palace Marina (Company)">Emirates Palace Marina</a>, UAE</li></ul>Customer Experience Award<ul><li>Gold – <a data-gid="gid://syiq/Company/4263" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin Göcek (Company)">D-Marin Göcek</a>, Türkiye</li><li>Silver – <a data-gid="gid://syiq/Company/3474" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai Creek Marina (Company)">Dubai Creek Marina</a>, UAE</li><li>Bronze – <a data-gid="gid://syiq/Company/6557" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jeddah Yacht Club & Marina (Company)">Jeddah Yacht Club &amp; Marina</a>, Saudi Arabia</li></ul>Innovation Award<ul><li>Gold – <a data-gid="gid://syiq/Company/4278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yas Marina (Company)">Yas Marina</a>, UAE</li><li>Silver – <a data-gid="gid://syiq/Company/6804" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai Harbour Marina (Company)">Dubai Harbour</a>, UAE</li><li>Bronze – <a data-gid="gid://syiq/Company/7323" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pearl Island Marina (Company)">Pearl Island Marina</a>, Qatar</li></ul>Sustainability Award<ul><li>Gold – D-Marin Didim, Türkiye</li><li>Silver – <a data-gid="gid://syiq/Company/7323" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pearl Island Marina (Company)">Pearl Island Marina</a>, Qatar</li><li>Bronze – <a data-gid="gid://syiq/Company/7952" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ayla Marina (Company)">Ayla Marina</a>, Jordan</li></ul><img src="https://photo-assets.superyachttimes.com/photo/341282/image/large-04f189beeae6cc59b2d5bd9a3f806745.jpg" data-gid="gid://syiq/Photo/341282">The final award of the night was the Most Popular Marina award, which was voted by members of the public, who chose <a data-gid="gid://syiq/Company/7952" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ayla Marina (Company)">Ayla Marina</a>, Jordan as the winner, followed by silver winner <a data-gid="gid://syiq/Company/7323" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pearl Island Marina (Company)">Pearl Island Marina</a>, Qatar and bronze awarded to Abu Dhabi Marine, UAE.“The aim of the Abu Dhabi Maritime Awards is to motivate progress, promote regional marinas, and set new standards of excellence in the maritime sector,” explained Captain Saif Al Mheiri, CEO of <a data-gid="gid://syiq/Company/6497" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Abu Dhabi Maritime (Company)">Abu Dhabi Maritime</a> and Chief Sustainability Officer – AD Ports Group.<img src="https://photo-assets.superyachttimes.com/photo/341281/image/large-23908cf53b309d14e1ac51647e3a4228.jpg" data-gid="gid://syiq/Photo/341281">“This awards programme exemplifies the goal to shape a resilient and progressive maritime ecosystem that fosters innovation and furthers sustainable practices. We extend our heartfelt congratulations to all the winners and our sincere gratitude to the participants who contributed to this remarkable edition. I look forward to the return of the Abu Dhabi Maritime Awards next year.”

Abu Dhabi Maritime Awards (Marinas Edition) 2024 winners

The 2024 Abu Dhabi Maritime Awards Marina Edition concluded last month with a total of 21  awards presented to marinas in 8  MENAT countries.

Abu Dhabi Maritime Awards (Marinas Edition) 2024 winners announced

Day one of the <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a> drew to a close yesterday, with a variety of panels and workshops taking place throughout the day. Held at the Jumeirah Beach Hotel, Dubai, the two-day event seeks to inform, assist and advise yachting clients and related interested parties, with the goal to develop the Gulf as a superyacht winter destination. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/340157/image/large-2bcdeb0930a2c0d6428ce127ed7eab7f.jpg" data-gid="gid://syiq/Photo/340157">The opening panels of the <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit 2024</a> brought together industry leaders to discuss the challenges and opportunities shaping the yachting sector in the Gulf region. The dialogue highlighted key regional developments, the influence of global trends and the immense potential for growth in the Gulf, Oman, and India.<img src="https://photo-assets.superyachttimes.com/photo/340088/image/large-1f0512bb8cf8cd6d3dc367b7a9f0b92a.jpg" data-gid="gid://syiq/Photo/340088">Building a roadmap for the future of yachting in the Gulf<ul><li>Mike Fetton, Managing Director at <a href="https://www.superyachttimes.com/companies/jls-yachts" target="_blank">JLS Yachts</a></li><li>Captain Saif Al Mheiri, CEO of <a href="https://www.superyachttimes.com/companies/abu-dhabi-maritime" target="_blank">Abu Dhabi Maritime&nbsp;</a>&amp; Chief Sustainability Officer at AD Ports Group.</li><li>Hamza Mustafa, the COO of <a href="https://www.superyachttimes.com/companies/p-o" target="_blank">P&amp;O Marinas</a></li><li>Gunther Alvarado, Deputy Chief Executive Officer of <a href="https://www.superyachttimes.com/companies/al-seer-marine" target="_blank">Al Seer Marine</a></li><li>Menelaus Kouzoupis, Partner at <a href="https://www.superyachttimes.com/companies/stephenson-harwood" rel="noopener noreferrer" target="_blank" title="">Stephenson Harwood</a></li></ul>Mike Fetton of <a data-gid="gid://syiq/Company/6806" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="JLS Yachts (Company)">JLS</a> emphasised the critical role of digitisation in streamlining operations across Gulf nations. By fostering seamless collaboration between countries, digitisation can enhance cruising opportunities and improve the overall yachting experience.Hamza, underscored the importance of destinations, calling them the cornerstone of the Gulf's yachting appeal. He noted that the UAE is already a premier destination, with Abu Dhabi’s islands and natural resources presenting untapped cruising opportunities. "We can enhance what we have, but the UAE is a destination already. It’s time for the yachting sector to catch up," he said.<img src="https://photo-assets.superyachttimes.com/photo/340094/image/large-4bac0a4ca7de7910758e03e52ffcb417.jpg" data-gid="gid://syiq/Photo/340094">Panellists agreed that Saudi Arabia’s rapid development in the yachting sector is a positive force for the entire region rather than a source of competition. Oman also holds enormous potential with its stunning fjords and coastline, but yachting infrastructure remains in its infancy. According to Fetton, improving cross-border yacht movements and addressing regulatory challenges are critical for the region’s future. Fam trips, where brokers and stakeholders experience what the Gulf has to offer, were also highlighted as essential for the region’s growth.Events like the Abu Dhabi Formula 1 Grand Prix have proven to be key attractions for yachts in the Gulf. Panellists called it "the most successful yachting magnet in the industry," as yachts tend to return after attending such events. However, regulatory challenges and limited cruising options currently hinder the region’s potential to fully capitalise on these opportunities.The discussion also touched on geopolitical dynamics and their impact on the region’s yachting sector. While political challenges have not significantly deterred yachting, insurance costs and logistical barriers, such as a 30 percent price increase for rounding the Cape of Good Hope, remain concerns. Hamza expressed optimism, stating that the Gulf could one day rival the Caribbean as a yachting hub, given its capacity for innovation and development.<img src="https://photo-assets.superyachttimes.com/photo/340096/image/large-4241e6b9cea2a827e0f6e826be6ca6d7.jpg" data-gid="gid://syiq/Photo/340096">Can India become a major market and destination?<ul><li>Aashim Mongia, Managing Director and Owner of <a href="https://www.superyachttimes.com/companies/west-coast-marine-sea-waif" target="_blank">West Coast Marine Yacht Services</a></li></ul>This panel also explored India’s potential as a future leader in yachting. India’s rapidly growing population of ultra-high-net-worth individuals (UHNWIs) and ongoing marina developments in Mumbai and Mandwa are paving the way for the country’s entry into the global yachting scene. However, infrastructure and policy reforms are necessary to unlock its full potential. Goa, currently the most popular cruising destination in India, is expected to be complemented by the development of India’s islands as attractive yachting spots in the next five years.<img src="https://photo-assets.superyachttimes.com/photo/341943/image/large-7fe4bbad94ff21154be4d4e8569186a2.jpeg" data-gid="gid://syiq/Photo/341943">Keynote interview with <a href="https://www.superyachttimes.com/companies/gulf-craft" target="_blank">Gulf Craft</a> Chairman Mohammed Hussein AlshaaliIn a compelling keynote interview with Justin Ratcliffe, Gulf Craft Chairman Mohammed Hussein Alshaali drew on his vast experience in foreign affairs and the maritime industry. The discussion offered unique insights into the Gulf region's evolving role in global yachting, highlighting its potential, challenges, and strategic importance within the sector.<img src="https://photo-assets.superyachttimes.com/photo/340092/image/large-30c80f5201e0937a114d1a23fe32d438.jpg" data-gid="gid://syiq/Photo/340092">How to start a new refit shipyard &amp; Making high quality yacht interiors in the UAE Presentations by Stewart Parvin of <a data-gid="gid://syiq/Company/5172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Rossini (Company)">Cantiere Rossini</a> and Roger Myers of <a data-gid="gid://syiq/Company/7319" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Superyacht Interiors (Company)">Superyacht Interiors</a> further enriched the summit. Parvin shared his journey of establishing a refit yard in Italy, focusing on environmental sustainability and crew welfare. Myers highlighted the skilled workforce in the UAE, showcasing their ability to deliver high-quality refits and custom interiors.<img src="https://photo-assets.superyachttimes.com/photo/340124/image/large-13381e084a723f08584abc0be9de9755.jpg" data-gid="gid://syiq/Photo/340124">Case study <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a>: Starting a new yard in the UAEFrancis Lapp of <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a> discussed the company’s expansion into Ras Al Khaimah. As the largest Polish investor in the UAE, <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef</a> is developing state-of-the-art production facilities that reflect the region’s globalised ethos. Despite initial concerns about maintaining quality, Lapp reassured clients that <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef</a>’s UAE operations meet the same high standards as its Polish facilities.<img src="https://photo-assets.superyachttimes.com/photo/340132/image/large-f8b1aa71aab8bb32e8cf897b7ef3cded.jpg" data-gid="gid://syiq/Photo/340132">WorkshopsNew for the 2024 programme, the afternoon workshops served as a dynamic forum for tackling key issues in the yachting industry, with leaders across various sectors engaging in discussions to inform the Yachting Arabia Vision.<img src="https://photo-assets.superyachttimes.com/photo/340128/image/large-015da4c513b7e7f0bcff201d991e77a0.jpg" data-gid="gid://syiq/Photo/340128">Workshop 1: The Refit &amp; Maintenance Challenge<ul><li>Alberto Perrone da Zara, Director Sales Yacht Refit at <a href="https://www.superyachttimes.com/companies/lurssen" target="_blank">Lürssen</a></li><li>Captain Patricia Caswell, General Manager of <a href="https://www.superyachttimes.com/companies/gulf-craft" target="_blank">Gulf Craft Services&nbsp;</a></li><li>Patrick Heslop, Managing Director of <a href="https://www.superyachttimes.com/companies/autore-dmcco" target="_blank">Autore</a></li><li>Martin Braithwaite, Head of Yacht Management at <a href="https://www.superyachttimes.com/companies/al-seer-marine" target="_blank">Al Seer Marine</a></li></ul>This workshop explored the growing demand for refit and maintenance services in the region and highlighted the importance of fostering local expertise and facilities to meet rising needs. the group emphasised the role of strategic planning and collaboration between operators to ensure efficiency and sustainability in the sector. The panel concluded that building robust infrastructure is critical to establishing the Gulf as a global refit hub.<img src="https://photo-assets.superyachttimes.com/photo/340129/image/large-ec9a40da97b5233e5bd177fc716c5865.jpg" data-gid="gid://syiq/Photo/340129">Workshop 2: Simplifying charter operations<ul><li>Anastazja Kociolkowska, Business Development &amp; ESG Manager at <a href="https://www.superyachttimes.com/companies/burgess" target="_blank">Burgess Dubai</a></li><li>Jo Assael, Yachts Commercial Director at <a href="https://www.superyachttimes.com/companies/international-registries-inc" target="_blank">International Registries, Inc.</a></li></ul>This session focused on streamlining the complexities of yacht charters in the Gulf. The discussion centred on regulatory hurdles, operational efficiency and opportunities for growth in the charter market. Practical solutions were proposed, such as enhanced coordination between governments and service providers to create a smoother charter experience. The panel also noted the importance of clarity in regulations to attract more international charter clients to the region. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/340125/image/large-64e7b1386d0b4df61d402db6657a90e0.jpg" data-gid="gid://syiq/Photo/340125">Workshop 3: Beyond the horizon: Enhancing human and technical safety at sea<ul><li>Engel Jan de Boer Yacht Segment Director at <a href="https://www.superyachttimes.com/companies/lloyd-s-register" target="_blank">Lloyd's Register</a></li><li>Grant Hobart of Cook Islands</li><li>Robert Corcoran Chief Operating Officer at <a href="https://www.superyachttimes.com/companies/fema-marine" target="_blank">FEMA Marine</a></li><li>Captain Denys Liamin</li><li>Ian Lubcke Co-Director of Asperton Insurance Advisors&nbsp;</li></ul>This workshop addressed safety and risk management in yachting, with experts discussing emerging trends in both human and technical safety, emphasising the importance of advanced training and cutting-edge technology. The group highlighted real-world challenges faced by crew at sea and underscored the role of robust insurance frameworks. The session concluded with a call for greater collaboration between classification societies, insurers, and operators to maintain high safety standards.<img src="https://photo-assets.superyachttimes.com/photo/340082/image/large-089dd9fffc742085c1185a0c1e1099e7.jpg" data-gid="gid://syiq/Photo/340082">Welcome Drinks by <a href="https://www.superyachttimes.com/companies/stephenson-harwood" target="_blank">Stephenson Harwood</a>Concluding the first day, <a data-gid="gid://syiq/Company/7786" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Stephenson Harwood (Company)">Stephenson Harwood</a>, in collaboration with SuperYacht Times, invited all participants to a networking session. The welcome drinks provide an opportunity to connect, reflect on the day’s discussions and explore the outcomes of the workshops and panels in a relaxed setting.The first day of the <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a> showcased the Gulf region’s tremendous potential as a yachting destination. Coupled with India’s rising market and innovative refit and interior capabilities, the Gulf is on track to redefine its place in the global yachting industry.<img src="https://photo-assets.superyachttimes.com/photo/319920/image/large-04abaf583e400f324d9b145b24624fbd.png" data-gid="gid://syiq/Photo/319920"><img src="https://photo-assets.superyachttimes.com/photo/332007/image/large-faf6d80dca3c2ee05f20bec3aeabac03.jpg" data-gid="gid://syiq/Photo/332007">

Gulf Superyacht Summit 2024 Day 1 summary

We take a look at everything you might have missed from day one of the Gulf Superyacht Summit 2024.

Everything you missed from Day 1 of the Gulf Superyacht Summit 2024

Following a successful first day at the <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a>, day two provided more insightful topics and discussions from expert panellists. The previous day also gave attendees the opportunity to network and connect with colleagues from across the industry in a Networking Dinner at Bar Du Port.<img src="https://photo-assets.superyachttimes.com/photo/340245/image/large-4cc83781fbc10f08731e79142dce8353.jpg" data-gid="gid://syiq/Photo/340245">You can catch up with everything that happened during <a data-gid="gid://syiq/Article/62156" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Everything you missed from Day 1 of the Gulf Superyacht Summit 2024 (2024-12-05 13:30:00 +0100)">day one of the Gulf Superyacht Summit here</a>.&nbsp;Day two included a welcome coffee event in the morning, before attendees and panellists took their seats for the first discussion below.<img src="https://photo-assets.superyachttimes.com/photo/340246/image/large-4f57cd53c74444489f773e1105fee4f5.jpg" data-gid="gid://syiq/Photo/340246">10:00 - 10:40 - Future of Marinas<ul><li>Dean Smith, Chief Commercial Officer at <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a></li><li>Oliver Rees, General Manager at M Marinas</li><li>Wyndham Tops, Senior Director of Marine and Marina at <a data-gid="gid://syiq/Company/7759" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Red Sea Global (Company)">Red Sea Global</a></li><li>Richard Haws, Head of Strategy at Smart Marinas</li><li>Katrina Poore, Assistant Vice President, AVP Marina</li></ul>This panel examined the region’s expanding marina infrastructure, focusing on both the opportunities and challenges associated with this growth. Discussions centred on whether these marinas can achieve full occupancy as functional hubs for yacht owners, or if they primarily serve as aesthetic enhancements to larger real estate projects.Dean Smith emphasised the importance of commercial strategies and creating marinas that are financially viable in the long term. Oliver Rees highlighted operational challenges, particularly in ensuring facilities meet the expectations of international yacht owners. Wyndham Tops addressed sustainability, sharing insights on how Red Sea Global balances luxury development with environmental preservation. <img src="https://photo-assets.superyachttimes.com/photo/340248/image/large-47f8a09ab21093124b82c020b0c7887a.jpg" data-gid="gid://syiq/Photo/340248">Richard Haws explored innovative solutions for smart marina management and strategies to maximise usage, while Katrina Poore discussed the integration of marinas into luxury developments, noting the growing appeal of waterfront living to developers and buyers alike.The panel concluded with a consensus that the region's marina developments must be thoughtfully planned and strategically managed to ensure they serve both functional and aesthetic purposes, aligning with the broader vision of regional growth and sustainability.<img src="https://photo-assets.superyachttimes.com/photo/340247/image/large-6a8913d7cf602fd9fcff070a2e9d700f.jpg" data-gid="gid://syiq/Photo/340247">10:40 - 11:05 - Building a 42-metre underwater superyacht<ul><li>Erik Hasselman, Commercial Director at <a data-gid="gid://syiq/Company/1535" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="U-Boat Worx B.V. (Company)">U-Boat Worx</a></li></ul>During this presentation Erik Hasselman, Commercial Director at <a data-gid="gid://syiq/Company/1535" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="U-Boat Worx B.V. (Company)">U-Boat Worx</a>, showcased the company’s groundbreaking advancements in underwater yacht technology. Known for its reputation in creating innovative projects, the Middle East served as an ideal backdrop for presenting <a data-gid="gid://syiq/Company/1535" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="U-Boat Worx B.V. (Company)">U-Boat Worx</a>’s vision of a next-generation underwater yacht.<img src="https://photo-assets.superyachttimes.com/photo/340273/image/large-2ccbce43d377f95d4ef96f07de19cdf9.jpg" data-gid="gid://syiq/Photo/340273">Hasselman detailed how this revolutionary concept combines cutting-edge submarine technology with luxury yacht design, offering owners and guests an unparalleled underwater experience. He explored the technical and engineering challenges of building such a vessel, emphasising how <a data-gid="gid://syiq/Company/1535" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="U-Boat Worx B.V. (Company)">U-Boat Worx</a> leverages Dutch expertise to overcome these complexities.The discussion also touched on the growing appeal of unique and experiential features in the luxury yachting market. Hasselman explained how underwater yachts align with the region’s drive for innovation and ambition to deliver world-leading projects. Attendees gained insights into the design, functionality and potential applications of this innovative yacht, which is poised to redefine underwater exploration and expand the boundaries of luxury travel.<img src="https://photo-assets.superyachttimes.com/photo/340254/image/large-f33429b50575c060a28a97119e77b63f.jpg" data-gid="gid://syiq/Photo/340254">11:45 - 12:20 -Insights on new wealth from other luxury markets (yachting, planes, cars &amp; real estate)<ul><li>Liberty Jones, Senior Vice President, Luxury at Frame Publicity</li><li>Daniella Budden, Co-Founder and Partner of Forté Aviation Consultants FZCO</li><li>Charlie King, Partner at Allsopp &amp; Allsopp Group</li><li>Michael Breman, Sales Director at <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen Yachts</a></li></ul>This panel explored how evolving client demands are shaping the approaches of industries such as yachting, private aviation, luxury automobiles, and real estate. Charlie King began by emphasising the significant changes seen in both clients and products, driven by shifting preferences and expectations. Liberty Jones added that personalisation is now paramount, particularly in the Middle East and Gulf regions, where luxury brands must tailor their approach to better resonate with local consumers.Daniella Budden provided insights into the private aviation sector, noting stark regional differences. In Europe, smaller jets are often preferred by CEOs for quick business trips, while in the Gulf, larger jets prioritising comfort dominate the market. She also highlighted the regulatory constraints in the Gulf that limit spontaneous jet travel. Meanwhile, Michael Breman discussed how the yachting industry targets a much smaller group of UHNWIs compared to other luxury markets, requiring a highly focused strategy. <img src="https://photo-assets.superyachttimes.com/photo/340264/image/large-a318dc6a8f5735a707e873fbf4b9ebbd.jpg" data-gid="gid://syiq/Photo/340264">Collaboration emerged as a recurring theme. Liberty emphasised the importance of working across industries and tapping into multigenerational wealth, particularly among younger clients. Charlie shared examples of successful partnerships with jewellery and watch brands, moving away from traditional open-house events towards experience-based collaborations. Daniella identified untapped potential between private aviation and yachting, given their shared client base. Charlie also highlighted his private office initiative designed to better serve UHNWIs.The discussion turned to how each industry maintains trust in highly competitive markets. Daniella stressed the importance of relationship-building, while Liberty highlighted the Gulf’s shifting preference from ostentatious displays of wealth to understated luxury. She suggested art collaborations as a way for the yachting industry to create synergies with other sectors. Michael noted that while yachting can learn from the mechanics of other luxury industries, shipyards often operate with much smaller budgets.Finally, communication tools were briefly discussed, with panellists agreeing that WhatsApp has become a primary method of client engagement, preferred over traditional email for its immediacy and convenience.<img src="https://photo-assets.superyachttimes.com/photo/340265/image/large-9885ba85f1bd1cf160f338aa2256d66b.jpg" data-gid="gid://syiq/Photo/340265">12:20 - 13:00 - Dimitris Angelakos on Building a Yacht Charter Fleet<ul><li>Dimitris E. Angelakos, Managing Director of <a data-gid="gid://syiq/Company/7924" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Angel Yachts Co. (Company)">Angel Yachts</a></li></ul>Dimitris Angelakos’ provided valuable insights into the distinctions between private and commercial yachts and the challenges of managing a successful charter business. Angelakos began by sharing his personal background and cultural influences, setting the stage for his approach to yacht charter management.<img src="https://photo-assets.superyachttimes.com/photo/340268/image/large-80a5898471fb3eaf7b4adfb2898c99ce.jpg" data-gid="gid://syiq/Photo/340268">A key focus of the discussion was the need to clearly differentiate private yachts, designed to meet the specific requirements of individual owners, from commercial yachts intended for charter use. Angelakos emphasised that commercial yachts must cater to broader market needs and be optimised for generating revenue. Drawing on his experience managing merchant ships, he discussed how lessons from the commercial shipping industry could be applied to the leisure yachting sector.Angelakos also explored the business potential of yachts, viewing them not just as assets for leisure but as viable commercial ventures. He addressed the practical considerations of making a charter fleet profitable, stressing the importance of professional crew management. According to Angelakos, a well-trained and experienced crew is essential for delivering the high standards of service that charter clients expect, thereby ensuring repeat business and long-term success.<img src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/340269/image/large-9e9fc0cee2376c5984af362e554aca7a.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIA52TLVJASOPFTPHWY%2F20241209%2Feu-west-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20241209T155429Z&amp;X-Amz-Expires=900&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Signature=f76d89f015b2ec5f4b79dba2febc200aa22403da1c355bdb1938861932b6b17f" data-gid="gid://syiq/Photo/340269">14:30 - 15:30 - The Red Sea Opportunity<ul><li>Rayan Bukhari, General Manager at <a data-gid="gid://syiq/Company/2220" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hill Robinson (Company)">Hill Robinson</a></li><li>Txema Rubio, Commercial Director, <a data-gid="gid://syiq/Company/7941" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Group (Company)">MB92 Group</a></li><li>Vienna Eleuteri, CEO Senior Advisor at the <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">Saudi Red Sea Authority</a>&nbsp;</li><li>Bahi Naguib, Operations Director at <a data-gid="gid://syiq/Company/7369" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Felix Maritime Agency (Company)">Felix Maritime Agency</a></li></ul>This panel explored the growing opportunities to develop the Red Sea region and surrounding areas into a premier winter yachting destination, with a focus on the ambitious projects underway in Saudi Arabia and Egypt. Discussions highlighted the potential for these developments to reshape the yachting calendar and attract international attention.Rayan Bukhari from Hill Robinson outlined the operational challenges and opportunities associated with establishing a reliable winter yachting destination. Txema Rubio of <a data-gid="gid://syiq/Company/7941" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Group (Company)">MB92 Group</a> discussed how infrastructure improvements in the region could support superyacht servicing and maintenance, boosting the appeal of the Red Sea for long-term cruising.<img src="https://photo-assets.superyachttimes.com/photo/340256/image/large-11cb5b9c6f6a502762052f87751457f7.jpg" data-gid="gid://syiq/Photo/340256">Vienna Eleuteri from the <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">Saudi Red Sea Authority</a> highlighted the importance of sustainability, emphasising how Saudi Arabia’s developments aim to balance luxury tourism with environmental preservation. Lastly, Bahi Naguib of <a data-gid="gid://syiq/Company/7369" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Felix Maritime Agency (Company)">Felix Maritime Agency</a> discussed logistical considerations for establishing the Red Sea as a seamless yachting hub, including customs and cruising permits.The panel concluded with a shared optimism about the Red Sea’s potential to become a top-tier winter yachting destination, leveraging its strategic location, ambitious projects and focus on innovation and sustainability.<img src="https://photo-assets.superyachttimes.com/photo/319920/image/large-04abaf583e400f324d9b145b24624fbd.png" data-gid="gid://syiq/Photo/319920"><img src="https://photo-assets.superyachttimes.com/photo/332007/image/large-faf6d80dca3c2ee05f20bec3aeabac03.jpg" data-gid="gid://syiq/Photo/332007">

Gulf Superyacht Summit 2024: A full summary of day 2

Following a successful first day, we take a look at everything that happened during day two of the Gulf Superyacht Summit 2024.