The Isle of Man’s Ship Register has been named one of the best registers in the world after emerging with no potential negative performance indicators in the 2010 Shipping Industry Flag State Performance Table, an annual exercise undertaken by leading shipowner groupings on the basis of 19 objective criteria. Registers are measured on their performance on 19 objective criteria including convention ratifications, designated recognised organisations and fleet age. To give an indication of the impressive performance of the register, only 5 other registers rated the same as the Isle of Man: Denmark, France, Germany, Greece and Norway. The sponsoring organisations say that the aim of the exercise is to provide a general understanding of a flag’s performance and to encourage ship operators to reflect on a flag’s quality before using it. Minister for Economic Development, Allan Bell MHK commented: “This is a fantastic achievement by the Isle of Man Ship Registry and reinforces our commitment to maintain the Isle of Man as a leading international business centre renowned for professionalism and a longstanding policy of positive engagement with international standards. I would like to congratulate the team at the Isle of Man Ship Registry for ensuring the Isle of Man remains a world-class location for ship registration.” Department Member with responsibility for shipping, Alex Downie MLC, said: “This is another very important endorsement for the Isle of Man’s ship register from the international maritime community. Following on from our high placing on the Paris MOU White List and entry to the United States Coast Guard Qualship 21 Scheme earlier this year, I am delighted that we have demonstrated our standing as one of the leading registers in the world.” Director of the Isle of Man Ship Registry, Dick Welsh commented: “Accolades like this are so valuable as this is the industry’s perspective. Topping the table rewards the staff for all their hard work in maintaining standards, but it also rewards the clients whose quality performance of their vessels is assessed. As long as we maintain the framework and quality approach to allow us to stay at the top, our clients do the rest. It is this partnership which really works well for the Isle of Man.” Isle of Man Ship Register <a target="_blank" href="http://www.iomshipregistry.com">www.iomshipregistry.com</a>

Isle of Man tops shipping industry flag state performance table

The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has announced at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>, that it will be introducing 25 new models to its portfolio from 2024 to 2026. These models will be introduced across the company's seven brands, which include <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a>, <a data-gid="gid://syiq/Company/584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pershing S.p.a. (Company)">Pershing</a>, Itama, <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a>, <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a> and <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>.<img src="https://photo-assets.superyachttimes.com/photo/326707/image/large-c3976a8885eac83f845146d17853cd61.jpg" data-gid="gid://syiq/Photo/326707">Hosted by <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> CEO Alberto Galassi, alongside Chief Commercial Officer Stefano de Vivo, the duo teased a selection of the new models, which includes several yachts which are due to make their debut at the upcoming shows this season.<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> announced that they had a fleet of 21 boats attending this year’s <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a> with no less than six premieres from the <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>, <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a>, <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, <a data-gid="gid://syiq/Company/584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pershing S.p.a. (Company)">Pershing</a> and <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a> brands.This comes amidst <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s recent appointment of the new Chairman of the Board of Directors, Jiang Kui.&nbsp;Alberto Galassi, CEO of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, expressed the company's ambition to exceed its previous achievements by launching more than its 2021 to 2023 benchmark of 24 new models. Galassi highlighted the firm's aggressive investment strategy, noting that <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has allocated €77 million to its expansion efforts in just the first half of 2024.&nbsp;During the press conference, Galassi noted that 52 percent of clients were repeat customers from across the seven brands, with the new models aimed at bridging the gap between the current existing fleet.&nbsp;Amongst the new models announced were the wallywhy100, which will be making her world premiere at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a> and the <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 38 and wallywind110, with more details due to be announced on these models soon.Other notable models due to join the fleet include, a new <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> model which will sit in size between the 860 and 1000 model and the <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> 940, which has already seen three hulls sold since its recent private preview. &nbsp;The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a> will also see new models in its <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a> brand, with the addition of the 54 Metri project and the 112 DolceVita Super yacht, which features exterior design by <a data-gid="gid://syiq/Company/366" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Officina Italiana Design (Mauro Micheli) (Company)">Officina Italiana</a>.&nbsp;

Ferretti Group reveals plan for 25 new models between 2024 and 2026

The Ferretti Group has announced at the Cannes Yachting Festival 2024, that it will be introducing 25 new models to its portfolio from 2024 to 2026.

<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is negotiating the acquisition of a shipyard in Viareggio, where it plans to build a new 40-metre <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> maxi yacht. <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> also plans to extend production beyond 40 metres, using aluminium at the new yard. In addition, new <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> offices will be built in Rapallo, Italy.This announcement was made by CEO Massimo Perotti, alongside <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> Chairman Leonardo Ferragamo, onboard the 50-metre <a data-gid="gid://syiq/Yacht/11733" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Almax49.99m (164'0&quot;)Sanlorenzo2024">Almax</a>&nbsp;during a press briefing at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>.<img src="https://photo-assets.superyachttimes.com/photo/326529/image/large-6ee3e933ce2f68982afaac99e4bf3877.jpg" data-gid="gid://syiq/Photo/326529">Two distinct brand identitiesDespite the acquisition, Perotti made it clear that the two brands will remain distinct. “One is a motor yacht builder, the other a sailing yacht manufacturer. They’ll never share offices or sales networks, and you won’t see them together at boat shows. They will remain two distinct mono-brands,” stated Perotti during the press conference. <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> will maintain its operations in Finland, while Ferragamo will retain his role as chairman and join <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> as vice president. <img src="https://photo-assets.superyachttimes.com/photo/326530/image/large-b55157a3c4800e17e5cf55e5f4ec035d.jpg" data-gid="gid://syiq/Photo/326530">Sanlorenzo expects to boost <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>’s profitability through better procurement and production efficiencies. Perotti highlighted how improving lead times for yacht construction could lead to higher EBITDA margins, benefiting from Sanlorenzo’s supply chain strength. However, production will remain in Finland, ensuring <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>’s heritage and expertise stay intact. <img src="https://photo-assets.superyachttimes.com/photo/261779/image/large-7b5718deb5680c4926c86d70113ad2a3.jpg" data-gid="gid://syiq/Photo/261779"><a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> celebrated for its Swan, Maxi Swan, and ClubSwan sailing yachts, along with its Shadow and Arrow motor yachts, now partners with <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> to form a powerhouse in the luxury yachting world. Four <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> maxi yachts have already been sold this summer. Both companies are known for their commitment to quality, innovation, and sustainability. This partnership aims to merge the strengths of motor and sailing yachts into a new market segment, underlining both brands’ leadership in eco-friendly yachting.Synergy in sustainability<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has pioneered sustainable technology in the industry, focusing on carbon neutrality, with goals of using green hydrogen and methanol in their yachts. The collaboration with <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>, which shares similar values, highlights <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s dedication to creating a future with sustainable luxury yachts.<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s commitment to sustainability continues to drive its strategy, as the company leads efforts to reduce the environmental impact of recreational boating. Collaborating with industry leaders like Siemens Energy, Volvo Penta, and Rolls-Royce, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is pushing boundaries to achieve carbon neutrality by 2030.<img src="https://photo-assets.superyachttimes.com/photo/326473/image/large-f5c916eb19f1d02248f4a612d87641bc.jpg" data-gid="gid://syiq/Photo/326473">At the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a>, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> unveiled two major eco-friendly milestones: the delivery of the 50Steel superyacht, the world’s first to feature a green methanol Reformer Fuel Cell system, and the launch of the hydrogen-powered chase boat BGH-HSV, designed for the <a data-gid="gid://syiq/Event/190" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="America's Cup - 2024 - 37th America's Cup Barcelona">America’s Cup</a>. Both vessels represent significant advances in reducing carbon emissions, with the 50Steel capable of staying at anchor for 85 percent of its time emission-free, slashing annual emissions by up to 30 percent.<ul><li style="font-style: italic;">Read:&nbsp;<a href="https://www.superyachttimes.com/yacht-news/sanlorenzo-50steel-yacht-almax-interiors" rel="noopener noreferrer" target="_blank" title="">Interiors of Almax unveiled, Sanlorenzo’s methanol fuel cell yacht</a></li></ul><a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has ambitious plans for the future, including the debut of bi-fuel engines by 2027, which will run on 80 percent methanol and 20 percent diesel. “By 2030, we aim for full methanol-powered yachts, but this will require infrastructure changes across Europe,” said Perotti during the press conference.New Sanlorenzo models<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s Bluegame division continues to spearhead sustainability efforts, unveiling the innovative <a data-gid="gid://syiq/YachtModel/13303" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bluegame BGM7522.7m (74'6&quot;)">BGM75</a> at <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes</a>. This multihull yacht, designed with fuel efficiency in mind, sets new standards in eco-conscious yachting. The <a data-gid="gid://syiq/YachtModel/13303" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bluegame BGM7522.7m (74'6&quot;)">BGM75</a>, developed with Smart Gyro stabilisers and featuring an optimised hull design by Philippe Briand, significantly reduces CO2 emissions. Looking ahead, Bluegame is working on the BGM65HH, a hydrogen-hybrid multihull yacht expected to debut in 2027.<img src="https://photo-assets.superyachttimes.com/photo/326534/image/large-43223a2b1bef25aa56865cdb42c31ae3.jpg" data-gid="gid://syiq/Photo/326534"><a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> also revealed new models at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a>, including the world premieres of the <a data-gid="gid://syiq/Yacht/13947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SL86A/86026.6m (87'3&quot;)Sanlorenzo2024">SL86A</a> and <a data-gid="gid://syiq/YachtModel/13070" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SP9227.95m (91'8&quot;)">SP92</a>. The <a data-gid="gid://syiq/Yacht/13947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SL86A/86026.6m (87'3&quot;)Sanlorenzo2024">SL86A</a> showcases a reimagined asymmetry design, maximising space and enhancing the connection with the sea, while the <a data-gid="gid://syiq/YachtModel/13070" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SP9227.95m (91'8&quot;)">SP92</a> focuses on high performance with a commitment to sustainability.<img src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/326535/image/large-b93a0dcc612ac803af0034bce842a058.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIA52TLVJASOPFTPHWY%2F20240910%2Feu-west-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20240910T103623Z&amp;X-Amz-Expires=900&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Signature=72d6020334c25c369e5ef01c5a582500e47521c548dfdd1822271c4fc4a81f1d" data-gid="gid://syiq/Photo/326535">In addition, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> displayed a wide array of yachts from its current lineup, including the <a data-gid="gid://syiq/Yacht/13947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SL86A/86026.6m (87'3&quot;)Sanlorenzo2024">SL96A</a>, <a data-gid="gid://syiq/YachtModel/12731" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SX10030.53m (100'2&quot;)">SX100</a>, and <a data-gid="gid://syiq/YachtModel/8934" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SD11835.75m (117'3&quot;)">SD118</a>, showcasing the company’s versatile offerings in the luxury yachting market.

Sanlorenzo plans to acquire Viareggio shipyard for new 40m Nautor Swan yacht

Sanlorenzo is negotiating the acquisition of a shipyard in Viareggio, where it plans to build a new 40-metre Nautor Swan maxi yacht. 

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> (<a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>) has introduced Saudi Arabia’s first regulation specifically governing yacht activities within its territorial waters. This new regulation provides a comprehensive framework for managing yacht operations, detailing the necessary requirements and conditions, and overseeing the issuance of tourism and leisure licences. It also emphasises environmental protection, sustainability, and compliance with safety standards, reflecting <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>’s commitment to promoting a sustainable coastal tourism sector.<img src="https://photo-assets.superyachttimes.com/photo/285492/image/large-4b771601-8882-42a3-840f-de9e06e3473e.jpeg" data-gid="gid://syiq/Photo/285492">Aligned with <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>’s mandate, the regulation establishes service standards and guidelines for coastal tourism activities, ensures the protection of the marine environment in the Red Sea, and aims to foster greater engagement among both practitioners and enthusiasts. These efforts are designed to enhance user experiences and support the sustainable growth of the coastal tourism sector.The regulation sets out the conditions and procedures for issuing technical licences for leisure tourism, specifying the criteria required for yacht owners or authorised maritime tourism agents. It further defines the requirements for obtaining tourism chartering licences, which include the involvement of a licensed maritime tourism agent or yacht management company, a signed contract between the agent and the charterer, secure marina-to-yacht access, and an onboard safety guide tailored for tourism charters.Additionally, the regulation details the procedures for obtaining a tourism trip permit within Saudi Arabia's Red Sea waters, including mandatory documentation such as passenger information, sailing destinations, and the chartering contract.Regarding water toys, the regulation requires obtaining the necessary approvals and licences for activities such as recreational fishing, diving, and other similar pursuits. It mandates a clear usage guide for all water-based activities, a comprehensive response plan outlining rescue and first aid procedures, the provision of life jackets, and designated activities for children.The regulation also mandates the issuance of required licences, sets specifications for chartering yachts, and ensures that all safety and environmental protection measures are upheld on board. It further emphasises the rights of people with disabilities, promotes the preservation of the marine environment by minimising plastic use and preventing pollution, requires adherence to safe navigation guidelines, and ensures that charterers comply with the terms of their contracts.The introduction of the new regulation coincides with the launch of SRSA’s awareness campaign, “More Than a Sea,” through which the Authority underscores its role in developing a thriving coastal tourism sector. The campaign highlights <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>'s efforts in setting policies, strategies, plans, programmes, and initiatives essential for regulating navigational and marine tourism activities, as well as issuing licences and permits.

Saudi Red Sea Authority issues first yacht regulations

The Saudi Red Sea Authority has introduced Saudi Arabia’s first regulation governing yacht activities within its territorial waters.

In their most recent financial disclosure, the Board of Directors of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> examined and approved the consolidated half-year financial report as of 30 June 2024.<img src="https://photo-assets.superyachttimes.com/photo/320979/image/large-649a94dae16898ab9df849136057ab5a.jpg" data-gid="gid://syiq/Photo/320979">Summary<ul><li>In the first half of 2024, net revenues from new yacht sales, identified as 'Net Revenues New Yachts,' amounted to €415.1 million, a 6.9% increase from €388.4 million during the same period in 2023. The breakdown by region indicates varied performance: revenues in the Americas grew by 9.2%, while the Asia-Pacific (APAC) region saw an increase of 20.9%. The Middle East and Africa (MEA) region recorded a significant rise of 142.0%. In contrast, Europe registered a decline of 9.9%. </li><li>EBITDA reached €74.2 million, marking a 9.7% increase from €67.7 million in the first half of 2023. This resulted in an EBITDA margin of 17.9% on Net Revenues from New Yachts, an improvement of 50 basis points. </li><li>EBIT stood at €58.0 million, reflecting a 9.1% increase from €53.1 million in the first half of 2023. This corresponds to a 14% margin on Net Revenues from New Yachts, which is an increase of 30 basis points. </li><li>Group Net Profit reached €43.6 million, an increase of 11.6% compared to €39.0 million in the first half of 2023. This resulted in a net profit margin of 10.5% on Net Revenues from New Yachts, up by 40 basis points. </li><li>Organic Net Capex was reported at €20.5 million, accounting for 4.9% of Net Revenues from New Yachts, with approximately 90% allocated to expanding industrial capacity and developing new models and product lines. Additionally, net investments tied to the consolidation of the <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group totaled €12.6 million, resulting in a Total Net Capex of €33.1 million for the period. </li><li>The Net Cash Position stood at €102.2 million, following a dividend payout of €34.3 million in the second quarter. Despite the financial impacts of acquiring the <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group and the non-recurring cash absorption for normalising working capital, the balance sheet remains robust. Without these factors, the net cash position would have been €126.1 million, underscoring the company’s strong liquidity and continued capacity for investment opportunities. </li><li>The gross backlog stood at €1,364.6 million, consistent with the record levels maintained in previous years on the same date. Of this, €741.2 million is allocated for 2024, covering 83% of the annual guidance, with the remaining €623.4 million scheduled for distribution in subsequent years. This backlog provides an exceptional level of visibility, with 88% of it comprising orders from final clients. </li><li>The order intake reached €323.0 million. This level was achieved despite the transient effects of implementing and ramping up a direct distribution strategy, which included acquiring <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> and incorporating <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> MED. These changes introduced an additional delay between sell-in and sell-out phases. As of 30 June 2024, the net backlog stood at €950.0 million, exceeding one times the annual revenues and substantially surpassing pre-Covid 'normal' levels.</li></ul>Massimo Perotti, Chairman and CEO, stated: “In the first half of 2024 and until today, we have faced and overcome several challenges with determination and a dynamic approach, fully reflected in our positive results. First and foremost, we have maintained our planned growth trajectory, further expanding margins and consolidating a robust net backlog, in the context of a complex and uncertain global macroeconomic and geopolitical environment, from which even high-end luxury has not been immune.”<img src="https://photo-assets.superyachttimes.com/photo/319400/image/large-61e24b536e7293fae90291fd0d189ce5.jpg" data-gid="gid://syiq/Photo/319400">Consolidated net revenues new yachtsIn the first half of 2024, net revenues from new yachts reached €415.1 million, representing a 6.9% increase from €388.4 million in the same period of the previous year.The Yacht Division recorded net revenues of €241.7 million, a slight increase of 1% compared to €239.3 million in the first half of 2023.The Superyacht Division reported net revenues of €124.4 million, a growth of 17.6% from €105.8 million in the same period of 2023, driven by strong performance in the Alloy and Steel lines.Meanwhile, the Bluegame Division achieved net revenues of €49.0 million, up 13.1% from €43.2 million in the first half of 2023, supported by the continued success of the BGX73 model.The geographical breakdown reveals a rebound in the Americas, with revenues increasing by 9.2%. The Asia-Pacific (APAC) region recorded growth of 20.9%, excluding Greater China, while the Middle East and Africa (MEA) region saw sustained growth of 142.0%. Europe experienced a decline of 9.9%, attributed to a strong comparison base from the first half of 2023, which saw a significant increase of 37.1% compared to the first half of 2022.Consolidated operating and net resultsEBITDA reached €74.2 million, a 9.7% increase from €67.7 million in the first half of 2023, with a margin of 17.9% on net revenues from new yachts, up by 50 basis points.EBIT reached €58 million, a 9.1% increase from €53.1 million in the first half of 2023, with a margin of 14% on net revenues from new yachts, up by 30 basis points. This growth reflects the impact of recent investments in product development, increased production capacity, and recent acquisitions.Pre-tax profit amounted to €60.4 million, up by 11.6% compared to €54.1 million in the first half of 2023.Group net profit reached €43.6 million, up by 11.6% compared to €39.0 million in the first half of 2023. The margin on Net Revenues New Yachts is equal to 10.5%, up by 40 basis points compared to the same period of the previous year. <img src="https://photo-assets.superyachttimes.com/photo/289245/image/large-500b25b57fef38c2479f03d4e2bac261.jpg" data-gid="gid://syiq/Photo/289245">Consolidated balance sheet and financial resultsNet working capital was positive at €2.1 million as of 30 June 2024, compared to a negative €34.9 million on 31 December 2023 and a negative €75.6 million on 30 June 2023. This improvement reflects a return to the typical seasonality of the business, driven by (i) intensive fitting activity for yachts approaching the delivery season in the Mediterranean, and (ii) a normalised order intake aligned with typical first-half levels, resulting in lower customer advances following the post-Covid period.Inventories totaled €130.1 million, an increase of €44.6 million from 31 December 2023 and €41 million from 30 June 2023. This growth is primarily driven by raw materials and work-in-progress products, reflecting the expanding order backlog.&nbsp;Finished products amounted to €35.7 million, up by €13.6 million from year-end 2023, consisting of €25.3 million in pre-owned yachts and €10.3 million in new yachts awaiting delivery. Of the pre-owned yachts, mainly in the American market, €6.5 million pertains to yachts already sold for delivery in the coming months.Organic net investments in the first half of 2024 totalled €20.5 million, up from €13.1 million in the same period of the previous year, with around 90% allocated to expanding industrial capacity and developing new models and product lines. These investments represented 4.9% of net revenues from new yachts, reflecting a growing revenue base, while the average investment required for new model development remained stable. Including the consolidation of <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group, total investments reached €33.1 million.The net cash position as of 30 June 2024 was €102.2 million, down from €140.5 million on both 31 December 2023 and 30 June 2023. This decrease reflects temporary cash absorption due to (i) the acquisition of <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group, (ii) the normalisation of net working capital following intensive yacht fitting activity ahead of the Mediterranean delivery season and a return to typical first-half order levels post-Covid, and (iii) a dividend payment of €34.3 million.BacklogAs of 30 June 2024, the gross backlog was €1,364.6 million, slightly down from €1,421.1 million a year earlier. This includes €741.2 million allocated to 2024, covering 83% of the annual guidance, and €623.4 million assigned to future years, ensuring strong visibilityThe net backlog stood at €950 million, exceeding one year's revenue and remaining above pre-Covid levels.Order intake for the first half of 2024 totalled €323 million, with €168.1 million in the first quarter and €154.8 million in the second quarter. This reflects normalised levels consistent with typical first-half seasonality, despite the temporary effects of implementing a direct distribution strategy, including the acquisition of Simpson Marine and the launch of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> MED, which has extended the time between sell-in and sell-out.Guidance 2024While closely monitoring broader market conditions, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reaffirms its organic guidance for 2024. This outlook now includes the contribution of the <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> Group for the five-month consolidation period from August to December.<img src="https://photo-assets.superyachttimes.com/photo/261779/image/large-7b5718deb5680c4926c86d70113ad2a3.jpg" data-gid="gid://syiq/Photo/261779">Commenting on the future outlook, Perotti stated: "We have successfully completed two innovative projects that mark key milestones in our ambitious journey towards more sustainable yachting. This summer, we delivered the 50Steel, equipped with a green methanol reformer-fuel cell system for on-board hospitality services, and two BGH tenders with hydrogen propulsion for America's Cup challengers.In line with our strategy for a sustainable product portfolio, the acquisition of <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> in early August demonstrates our ability to identify high-potential investment opportunities and integrate them with a long-term industrial vision consistent with <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s philosophy. <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Swan</a> is an extraordinary brand with which we can create significant synergies, contributing substantially to the Group's results. We move forward with great optimism, confident in our strength and the soundness of our strategic choices.”

Sanlorenzo reports H1 financial report

The Board of Directors of Sanlorenzo have examined and approved the consolidated half-year financial report as of 30 June 2024.

Sanlorenzo reports 11.6% increase in group net profit for H1

The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has announced that Stefano de Vivo has departed from his position as Chief Commercial 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> and Managing Director of <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>.<img src="https://photo-assets.superyachttimes.com/photo/83726/image/large-dbe1fc34677b5128cb0f4de495c81226.jpg" data-gid="gid://syiq/Photo/83726">Stefano de Vivo will be leaving the role after serving the company for over a decade. Stefano de Vivo has decided to fully commit to his Family Office, where he will take on the role of CEO beginning 1 November 2024.Stefano de Vivo will remain connected 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> by providing technical consultancy to support the development of the <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a> Sail business. Under his previous leadership, the Group has seen its revenues more than quadruple.“At my side for over a decade as Chief Commercial 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> and Managing Director of <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, Stefano thanks to his professionalism, dedication and expertise contributed to the achievement of the important goals that the Company has reached in recent years,” explained Alberto Galassi, CEO of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/312272/image/large-c91e06863903a886e2f3c779ad496fa9.jpg" data-gid="gid://syiq/Photo/312272">The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> will follow its established succession plan, with de Vivo collaborating closely with CEO Alberto Galassi and the Chief HR Officer to ensure a smooth transition.“De Vivo decided to leave to pursue other endeavours. On behalf of everyone at <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>, I thank him for his efforts, particularly in product development and sales, which have left our Group in excellent shape with a bright future ahead.”&nbsp;“Looking ahead, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, along with its organisation, new products range already defined for the coming years and highly capable management team, is ready to continue with the growth path already undertaken,” concluded Alberto Galassi.

Stefano de Vivo leaves role as Ferretti Group CCO & Managing Director of Wally

The Ferretti Group has announced that Stefano de Vivo has departed from his position as CCO of Ferretti Group and Managing Director of Wally.

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Ferretti Group announces Stefano de Vivo’s departure as CCO 

Turkish shipyard <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a> has announced that Özgün Utku Alanç has been appointed as General Manager of <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a>, following the retirement of former manager Gürkan Türkeş. <img src="https://photo-assets.superyachttimes.com/photo/278003/image/large-50c9ba5c8bcd8c379697259a8efe5a64.jpg" data-gid="gid://syiq/Photo/278003">Speaking in a statement posted online, Gürkan Türkeş commented: “10 years and two months...The time that has passed since I started working as a business development manager at <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a>.”“It may not seem like a long time, but since it has been very busy and full, when I look back, it feels like at least 20 years to me. Now it is time to hand over my duties as the General Manager of this distinguished institution.”Özgün Utku Alanç recently left his position as CEO of <a data-gid="gid://syiq/Company/2013" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ARES Yachts (Company)">ARES Shipyard</a>, where he resigned from the role after around 11 years at the helm. “Over the course of the past decade, I’ve had the opportunity to interact with a diverse range of stakeholders and colleagues, many of whom have then become close friends,” he said.<img src="https://photo-assets.superyachttimes.com/photo/325088/image/large-f978631424e980782e55125ab4bc7f69.png" data-gid="gid://syiq/Photo/325088">“I’ll be excitedly taking on a new challenge in a different location to continue my journey in the industry and, of course, I’ll stay connected. Change is the only constant in life.”Özgün Utku Alanç left the company in August 2024, with the <a data-gid="gid://syiq/Company/2013" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ARES Yachts (Company)">ARES</a> staff expressing their gratitude and satisfaction for his leadership. He will now take over the role at <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a> from Gürkan Türkeş.&nbsp;“His route will be growth and success,” concluded Gürkan Türkeş. “I believe that he will do more than what I have done, what I could not do, and what I did not have the opportunity to do. As it is said when leaving the bridge, I bid farewell by saying "may God bless you.”

Gürkan Türkeş retires from RMK Marine as Özgün Utku Alanç is appointed new General 

RMK Marine has announced that Özgün Utku Alanç has been appointed as General Manager, following the retirement of former manager Gürkan Türkeş.

Gürkan Türkeş retires as RMK Marine appoints Özgün Utku Alanç as new General Manager

In the most recent financial disclosure, the Board of Directors of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, the Italy-based yacht builder headquartered in Forlì, has reviewed and officially approved the financial results for the first half of 2024. <img src="https://photo-assets.superyachttimes.com/photo/311727/image/large-3fe9300677d874d5eb81b65be7e099d1.jpg" data-gid="gid://syiq/Photo/311727">Financial overview:<ul><li>Adjusted EBITDA: €96.7 million, an increase of 15.9% from H1 2023, with a profit margin of 15.8%, up by 110 basis points from the previous year. &nbsp;</li><li>Net Revenue from New Yachts: €611 million, marking a 7.7% rise compared to H1 2023. &nbsp;</li><li>Net Profit: €44 million, up 7.6% from H1 2023. &nbsp;</li><li>Order Intake and Backlog: Order intake for H1 stands at €514.4 million, showcasing a new growth trend in Q2; order backlog at €1.5 billion, up 6.0% as of 30 June 2023. &nbsp;</li><li>Net Financial Position: Reported net cash of €237 million as of 30 June 2024, an increase of approximately €31 million post-dividend payment of about €33 million.</li></ul>Order Intake:In the second quarter of 2024, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> reported an overall H1 order intake of €514.4 million, reflecting a 10.4% decrease compared to the same period in 2023.Order intake by segment:<ul><li>The Composite Yachts segment recorded €161.6 million, representing 31.4% of the total order intake, a notable decrease from €262.6 million or 45.8% in the corresponding period of 2023.</li><li>This downturn contrasts with the Made-to-Measure yachts segment, which increased to €256.3 million from €240.8 million, growing to represent 49.8% of total orders.&nbsp;</li><li>Meanwhile, the Superyachts Segment saw a substantial rise, tallying €96.5 million and making up 18.8% of the order intake, up from just 9.1% the prior year.&nbsp;</li><li>Notably, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s other businesses segment recorded no new orders in the period, a decrease from the €17.9 million and 3.1% contribution noted in 2023.</li></ul>Order intake by geography:<ul><li>In the first half of 2024, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s geographical distribution of order intakes showcased significant shifts.</li><li>In Europe, orders amounted to €182 million, representing 35.4% of the total, a decrease from the previous year's €298.8 million, which accounted for 52.1%.&nbsp;</li><li>The Middle East and Africa (MEA) region saw a notable increase to €167.2 million, constituting 32.5% of the total, up from €103.9 million or 18.1% in 2023.&nbsp;</li><li>The Asia-Pacific (APAC) region experienced a sharp decline, with orders totaling just €7.0 million, about 1.4% of the total, compared to €47.7 million or 8.3% last year.</li><li>The Americas (AMAS), however, increased their share to €158.2 million or 30.8% of the total, up from €123.5 million or 21.5%.</li></ul>Order backlog:As of June 30, 2024, the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s order backlog reached €1,495.8 million, marking a 6% increase from €1,410.5 million on the same date in 2023. This growth is attributed to the orders accumulated over the past year. Order backlog by geography:<ul><li>The Composite Yachts segment reached €350.1 million, accounting for approximately 23.4% of the total backlog, a slight decrease from €365.1 million or 25.9% in 2023.</li><li>The Made-to-Measure Yachts maintained a stable presence with €568 million, constituting roughly 38% of the backlog, marginally down from 38.7% the previous year.</li><li>The Super Yachts segment witnessed significant growth, reaching €521.9 million or 34.9% of the total, up from €442.3 million or 31.4% in 2023.&nbsp;</li><li>Meanwhile, the Other Businesses segment slightly declined to €55.8 million, representing about 3.7% of the backlog, compared to €56.9 million or 4% last year.</li><li>Net Backlog of the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, representing total orders not yet delivered minus revenues already booked, stood at €785.7 million. This figure shows a slight decrease of 5.2% from €828.7 million as of March 31, 2024, and a 3% decline from €810.4 million recorded on June 30, 2023. Net revenue new yachts:</li></ul>In the first half of 2024, the <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 revenue from new yachts rose by approximately 7.7%, reaching €611 million, up from €567.4 million in the same period of 2023. This increase can be attributed to the solid order backlog accumulated throughout 2023 and early 2024.Net revenue new yachts by segment:<ul><li>In H1 2024, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s Composite Yachts segment generated €265.5 million, accounting for approximately 43.5% of the total net revenue from new yachts, a rise from €241.6 million or 42.6% in H1 2023.&nbsp;</li><li>The Made-to-Measure Yachts contributed €232.7 million, representing about 38.1% of the total, slightly down from €226.2 million or 39.9% the previous year.&nbsp;</li><li>Super Yachts showed significant growth, reaching €82.5 million or 13.5% of the total, up from €64.8 million or 11.4%.</li><li>Revenue from Other Businesses totaled €30.4 million, making up approximately 5% of the total, a decrease from €34.8 million or 6.1% in H1 2023.</li></ul>Net revenue new yachts by geographic area:<ul><li>The Europe region generated €313 million in net revenue from new yachts, comprising approximately 51.2% of the total, up from €265.5 million or 46.8% in H1 2023.</li><li>The Middle East and Africa (MEA) region contributed €112.8 million, representing about 18.5% of the total, an increase from €88.5 million or 15.6% the previous year.&nbsp;</li><li>However, the Asia-Pacific (APAC) region saw a decrease, with revenues falling to €23.9 million, about 3.9% of the total, down from €57.5 million or 10.1%.&nbsp;</li><li>Meanwhile, the Americas (AMAS) region accounted for €161.3 million, or 26.4% of the total, slightly up from €155.9 million or 27.5% in H1 2023.</li></ul>Net profit:<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)"></a><a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s profit increased by 7.6%, rising from €40.9 million in the first half of 2023 to €44 million in the same period of 2024.Investments in tangible and intangible assets:<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s investments in tangible and intangible fixed assets totalled €90.5 million. This expenditure included approximately €14.1 million allocated for the maintenance of operations and the existing product portfolio, and approximately €76.4 million dedicated to business expansion, predominantly for the commissioning of the Ravenna shipyard.Consolidated net financial position:&nbsp;<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 financial position showed a net cash balance of €237 million, an increase from €205.7 million recorded on March 31, 2024.Net working capital:<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)"></a><a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)"></a><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 working capital stood at a negative €30.7 million, reflecting a decrease of €58.4 million from March 31, 2024. This change was primarily due to accelerated deliveries in anticipation of the Mediterranean season and the subsequent collection of final payment milestones.<img src="https://photo-assets.superyachttimes.com/photo/243240/image/large-c8d44c405138c49644ebabd8896f5e94.jpg" data-gid="gid://syiq/Photo/243240">Commenting on the result, Alberto Galassi, the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>’s Chief Executive Officer, stated: “One year after the success of the double listing on the Hong Kong and Milan stock exchanges, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> confirms its growth. Margins reached 15.8%, the best result ever for the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>'s profitability, together with a net financial position of 237 million euros, improved by more than 30 million compared to last spring.&nbsp;The second quarter of 2024 also shows signs of long-term growth, including the consistent recovery in demand from the North American market, which grew by more than 28%. The season of the great European boat shows is now upon us and sees <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> present itself with a range of innovative products that are technologically advanced, attentive to sustainability and, as always, beautiful. Extraordinary boats that, we are sure, will once again be rewarded by the international market.”

Ferretti Group reports €611m net revenue from new yachts for H1 2024

Ferretti Group has reviewed and officially approved the financial results for the first half of 2024.

Dutch yacht builder <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen Yachts</a> has announced that Mark Cavendish has stepped down from his role, as they appoint Ruud van der Stroom as the new Chief Commercial Officer (CCO).<img src="https://photo-assets.superyachttimes.com/photo/324478/image/large-aa2afc69d4a4a937121f3082f22e5966.jpg" data-gid="gid://syiq/Photo/324478">Effective from 1 September, Ruud will undertake the position, bringing with him extensive experience and a unique background to the job role. Trained as a Dutch Royal Navy officer, Ruud studied Naval Architecture at the Naval Academy and Delft University of Technology.From there, Ruud spent several years in commercial shipping, with the past 16 spent of his career spent at Keppel Offshore and Marine and the <a data-gid="gid://syiq/Company/6617" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Shipyards (Company)">Damen Shipyards</a> Group, where he refined his expertise in the maritime industry.“This transition marks a significant milestone in my career,” explained Ruud van der Stroom. “My passion for yachting has been a lifelong pursuit, and joining such a prestigious shipyard feels like the perfect culmination of that journey.”<img src="https://photo-assets.superyachttimes.com/photo/53462/image/large-50d1759f2eb6dd43bdb547964990e63b.jpg" data-gid="gid://syiq/Photo/53462">Ruud will succeed Mark Cavendish, who will retire after an impressive 16 years with <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a>. Mark has spent several years in the yachting industry and under his leadership, <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a> significantly expanded its reputation and sold numerous yachts ranging from semi-custom to fully custom designs.“We extend our heartfelt gratitude to Mark for his invaluable contributions. His vast experience and deep market knowledge have been instrumental in building a solid platform for Heesen continued success,” said Niels Vaessen, <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a>’s CEO.&nbsp;“We are excited to welcome Ruud to the team and look forward to the innovative direction he will bring as we continue to elevate our offerings in the luxury yacht market.”<img src="https://photo-assets.superyachttimes.com/photo/324472/image/large-337ae6224f66b1afe2c8dfc080e8ac3e.jpg" data-gid="gid://syiq/Photo/324472">

Heesen appoints Ruud van der Stroom as new CCO

Mark Cavendish steps down as Heesen's CCO, with Ruud van der Stroom taking over, marking a significant leadership change at the shipyard.

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Mark Cavendish steps down as Heesen appoints Ruud van der Stroom as new CCO

The history of Baglietto

 Justin Ratcliffe explore the past, present, and future of Baglietto’s 170 year history, including the 22 superyachts they currently have in-build.

Video: Celebrating the past, present and future of Baglietto

The Dubai Maritime Authority has signed a strategic partnership agreement with <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a> for facilitating procedures related to registering maritime vessels in Dubai. <img src="https://photo-assets.superyachttimes.com/photo/322658/image/large-f6e587a199655532c7a09fd54a810bed.jpg" data-gid="gid://syiq/Photo/322658">Represented by Sheikh Dr. Saeed bin Ahmed bin Khalifa Al Maktoum from the Dubai Maritime Authority and Abeer Alshaali, Deputy Managing Director at <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a>, the partnership aims to create a unified system for registering and licensing boats.Through this new system, customers who purchase a yacht from <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a> will be able to directly register their ownership with the Dubai Maritime Authority online, simplifying the process significantly.Sheikh Saeed emphasised that according to Dubai Maritime Authority's vision and strategy to intensify efforts aimed at enhancing strategic partnerships with the private sector, signing the agreement with <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a> contributes to achieving governmental directives to facilitate procedures for clients.<img src="https://photo-assets.superyachttimes.com/photo/322660/image/large-4e45a171ae5f0f7fd35fa2481e9dd4b9.jpg" data-gid="gid://syiq/Photo/322660">This move is also in line with Dubai's goal to make government services more accessible and user-friendly, following the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum. Abeer Alshaali, praised Dubai Maritime Authority’s efforts in facilitating procedures and selecting <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a> as a partner to provide the service on its behalf, streamlining the process and completing it directly from the sales outlet.Both organisations aim to ensure that all boats meet safety standards and regulations, with this not only saving time and effort for customers, but also strengthening Dubai's position as a leading maritime destination.<img src="https://photo-assets.superyachttimes.com/photo/302006/image/large-523927ee97e59451086e876416452cfb.jpg" data-gid="gid://syiq/Photo/302006">Looking Ahead: The Gulf Superyacht Summit 2024As Dubai continues to bolster its maritime sector, the upcoming <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> will further highlight the region’s growing prominence in the industry. Returning for its sixth year, this prestigious two-day conference will be held between 4 and 5 December 2024, at the five-star Jumeirah Beach Hotel in the sophisticated Safinah Ballroom. <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a> will be attending as a gold sponsor for the event this year, which takes place just days before the Abu Dhabi Formula 1 Grand Prix.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> aims to inform, assist, and advise yachting clients and industry professionals, with the overarching goal of establishing the Gulf as a leading winter superyacht destination.<img src="https://photo-assets.superyachttimes.com/photo/319920/image/large-8013c07f9e90fb273ae0c80eb90e03f1.jpg" data-gid="gid://syiq/Photo/319920">

Dubai Maritime Authority signs an agreement with Gulf Craft for Marine Registration Services

The Dubai Maritime Authority has signed a strategic partnership agreement with Gulf Craft to streamline yacht registration in Dubai.

Dubai Maritime Authority partners with Gulf Craft to streamline yacht registration in Dubai

The 136.8-metre <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> superyacht <a data-gid="gid://syiq/Yacht/9442" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alibaba136.8m (448'10&quot;)Lürssen Yachts2024">Alibaba</a> has been spotted on her sea trials near Brunsbüttel, Germany. Launched in December 2023, the superyacht features naval architecture crafted in-house by her German shipyard <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>. <img src="https://photo-assets.superyachttimes.com/photo/326950/image/large-692c5a9315e6eca85d7c807f0b69f0a9.jpg" data-gid="gid://syiq/Photo/326950">Details surrounding <a data-gid="gid://syiq/Yacht/9442" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alibaba136.8m (448'10&quot;)Lürssen Yachts2024">Alibaba</a> have largely been kept secret since construction of the vessel began in 2019. At a glance, the superyacht exhibits <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>'s signature an elongated bow, complete with angular contours and striking exterior elements, giving her a distinctive presence across harbours.&nbsp;Boasting four expansive decks that fuse sophistication with a military-like edge, <a data-gid="gid://syiq/Yacht/9442" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alibaba136.8m (448'10&quot;)Lürssen Yachts2024">Alibaba</a> features large exterior decks, with her aft deck spanning nearly half of her profile.&nbsp;Last year, the yacht <a data-gid="gid://syiq/Yacht/9442" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alibaba136.8m (448'10&quot;)Lürssen Yachts2024">Alibaba</a> garnered attention when a technical failure of the dock gate forced water out of the dock, pushing her bow into the dock curtain as a consequence. As a result of this, <a href="https://sya.superyachttimes.com/yachts/alibaba" target="_blank">Ali Baba</a> was prematurely launched by <a href="https://sya.superyachttimes.com/companies/lurssen" target="_blank">Lürssen</a> in December 2023.Read: <a data-gid="gid://syiq/Article/59289" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="140m+ in-build superyacht damages Lürssen dry dock in Bremen (2023-12-07 18:00:00 +0100)">140m+ in-build superyacht damages Lürssen dry dock in Bremen</a><img src="https://photo-assets.superyachttimes.com/photo/326951/image/large-e1932aed6c3a64ee1080b92f979c3f10.jpg" data-gid="gid://syiq/Photo/326951">Regarding her propulsion system, <a data-gid="gid://syiq/Yacht/9442" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alibaba136.8m (448'10&quot;)Lürssen Yachts2024">Alibaba</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. Moreover, she is composed of a steel hull and aluminium superstructure. According to <a href="https://sytiq.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">Superyacht iQ</a>, other in-build superyachts by <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> include the 134.2-metre yacht <a data-gid="gid://syiq/Yacht/11483" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Deep Blue134.2m (440'3&quot;)Lürssen Yachts2025">Deep Blue</a>, due for delivery in 2025, as well as the 114.2-metre <a data-gid="gid://syiq/Yacht/10233" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cosmos114.2m (374'8&quot;)Lürssen Yachts2025">Cosmos</a>, and 102.4-metre <a data-gid="gid://syiq/Yacht/11563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="JASSJ102.4m (335'11&quot;)Lürssen Yachts2025">JassJ</a>.&nbsp;

137m Lürssen yacht Alibaba on sea trials 

The 136.8-metre Lürssen superyacht Alibaba has been spotted on her sea trials near Brunsbüttel, Germany. 

137m Lürssen superyacht Alibaba on sea trials 

Taking place between 10 to 15 September 2024, <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a> is one of the largest yachting shows in Europe and offers the perfect opportunity to announce the latest news in the industry.&nbsp;SuperYacht Times takes a look at some of the largest announcements from this year’s show, to make sure you are up-to-date with all the latest industry news!You can read more about the <a data-gid="gid://syiq/Article/61185" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachts attending the Cannes Yachting Festival 2024 (2024-08-05 16:30:00 +0200)">yachts attending this year's show here</a>.<img src="https://photo-assets.superyachttimes.com/photo/326764/image/large-b92c0525ce9f63b22451bcee993029fb.jpg" data-gid="gid://syiq/Photo/326764"><a data-gid="gid://syiq/Article/61441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts unveils new flagship Ultima 111 yacht with Phathom Studio (2024-09-11 10:00:00 +0200)">Sunreef Yachts unveils new flagship Ultima 111 yacht with Phathom Studio</a><a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a> has unveiled a new flagship Ultima model at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>, the Ultima 111. Designed in collaboration with <a data-gid="gid://syiq/Company/5530" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Phathom Studio (Company)">Phathom Studio</a>, the new catamaran is one of just a handful in the <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef</a> portfolio that features design outside of the company’s in-house team. <img src="https://photo-assets.superyachttimes.com/photo/326870/image/large-4ff7b0fb8b27ea2483aeb2380b7d1e3d.png" data-gid="gid://syiq/Photo/326870"><a data-gid="gid://syiq/Article/61445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austin Parker unveils the design of the new 30m navetta ICONICA 100 (2024-09-11 13:45:00 +0200)">Austin Parker unveils the design of the new 30m navetta Iconica 100</a><a data-gid="gid://syiq/Company/5681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austin Parker Yachts (Company)">Austin Parker</a> introduced the Iconica 100, the latest addition to its new range of yachts at <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>. All models are developed in collaboration with <a data-gid="gid://syiq/Company/4640" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pininfarina (Company)">Pininfarina</a> and <a data-gid="gid://syiq/Company/585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fulvio De Simoni Yacht Design (Company)">Fulvio De Simoni Design Studio</a>, with the Iconica 100 unveiled during the show.<a data-gid="gid://syiq/Article/61450" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut|Benetti Group reports 55% revenue growth since 2020 (2024-09-11 18:15:00 +0200)"><img src="https://photo-assets.superyachttimes.com/photo/296190/image/large-463b0553fa710aae2473780ce9247995.jpg" data-gid="gid://syiq/Photo/296190">Azimut|Benetti Group reports 55% revenue growth since 2020</a>During the <a data-gid="gid://syiq/Article/61450" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut|Benetti Group reports 55% revenue growth since 2020 (2024-09-11 18:15:00 +0200)">Azimut|Benetti Group</a> press conference at <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>, the shipyard disclosed its financial results for the past yachting season, with figures confirming a steady upward trend. &nbsp; <img src="https://photo-assets.superyachttimes.com/photo/326471/image/large-57f1ee80e6deea578ad38974f57ac284.jpg" data-gid="gid://syiq/Photo/326471"><a data-gid="gid://syiq/Article/61425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Interiors of Almax unveiled, Sanlorenzo’s methanol fuel cell yacht (2024-09-10 08:30:00 +0200)">Interiors of Almax unveiled, Sanlorenzo’s methanol fuel cell yacht</a>The first interior images of the groundbreaking 49.99-metre <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> superyacht <a data-gid="gid://syiq/Yacht/11733" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Almax49.99m (164'0&quot;)Sanlorenzo2024">Almax</a> were unveiled at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>. Launched as part of the 50Steel series, <a data-gid="gid://syiq/Yacht/11733" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Almax49.99m (164'0&quot;)Sanlorenzo2024">Almax</a> is the first superyacht in the world to feature a green methanol fuel cell system, developed by the shipyard in collaboration with <a data-gid="gid://syiq/Company/1981" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Siemens (Company)">Siemens Energy</a>.You can <a data-gid="gid://syiq/Article/61425" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Interiors of Almax unveiled, Sanlorenzo’s methanol fuel cell yacht (2024-09-10 08:30:00 +0200)">see all the images of Almax here</a>.<a data-gid="gid://syiq/Article/61428" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo plans to acquire Viareggio shipyard for new 40m Nautor Swan yacht (2024-09-10 10:45:00 +0200)"><img src="https://photo-assets.superyachttimes.com/photo/326529/image/large-6ee3e933ce2f68982afaac99e4bf3877.jpg" data-gid="gid://syiq/Photo/326529">Sanlorenzo plans to acquire Viareggio shipyard for new Nautor Swan maxi yacht</a><a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is negotiating the acquisition of a shipyard in Viareggio, where it plans to build a new <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> maxi yacht. <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> also plans to extend production beyond 40-metres, using aluminium at the new yard.Find out <a data-gid="gid://syiq/Article/61428" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo plans to acquire Viareggio shipyard for new 40m Nautor Swan yacht (2024-09-10 10:45:00 +0200)">more about the plans here</a>.<img src="https://photo-assets.superyachttimes.com/photo/326707/image/large-c3976a8885eac83f845146d17853cd61.jpg" data-gid="gid://syiq/Photo/326707"><a data-gid="gid://syiq/Article/61435" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group reveals plan for 25 new models between 2024 and 2026 (2024-09-10 16:30:00 +0200)">Ferretti Group reveals plan for 25 new models between 2024 and 2026</a>The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has announced at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>, that it will be introducing 25 new models to its portfolio from 2024 to 2026. These models will be introduced across the company's seven brands, which include <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a>, <a data-gid="gid://syiq/Company/584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pershing S.p.a. (Company)">Pershing</a>, Itama, <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a>, <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a> and <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>.<a data-gid="gid://syiq/Article/61435" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group reveals plan for 25 new models between 2024 and 2026 (2024-09-10 16:30:00 +0200)">Learn more about the models here</a>.<a data-gid="gid://syiq/Article/61433" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts unveils the new 27m Princess X90 model (2024-09-10 15:00:00 +0200)"><img src="https://photo-assets.superyachttimes.com/photo/326661/image/large-1eb14481e335c289aa5afbd4759cf48c.jpg" data-gid="gid://syiq/Photo/326661">Princess Yachts unveils the new 27m Princess X90 model</a><a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess Yachts</a> has unveiled first renderings of its new 27-metre <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess</a> X90 model, which plans to expand on its current X class range. This latest addition serves as an alternative to the X80 and the flagship X95 Vista.Read more about the <a data-gid="gid://syiq/Article/61433" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts unveils the new 27m Princess X90 model (2024-09-10 15:00:00 +0200)">Princess X90 yacht here</a>.<a data-gid="gid://syiq/Article/61437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Doggersbank unveils two new explorer models (2024-09-10 18:15:00 +0200)"><img src="https://photo-assets.superyachttimes.com/photo/326712/image/large-605e9a25822c8b4e1fa77271ad9a6e06.jpg" data-gid="gid://syiq/Photo/326712">Doggersbank unveils two new explorer models</a>Doggersbank, in partnership with its European partner <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>, has unveiled two new additions to its explorer series at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a>: the Doggersbank 90 Offshore and 105 Offshore.Explore more about the <a data-gid="gid://syiq/Article/61437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Doggersbank unveils two new explorer models (2024-09-10 18:15:00 +0200)">Doggersbank 90 Offshore and 105 Offshore here</a>.

Everything you might have missed from Cannes Yachting Festival 2024

SuperYacht Times takes a look at some of the largest announcements from Cannes Yachting Festival 2024, to make sure you are up-to-date.

Day 2: Everything you might have missed from Cannes Yachting Festival 2024

During the <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut|Benetti Group</a> press conference at <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>, the shipyard disclosed its financial results for the past yachting season, with figures confirming a steady upward trend. The group’s revenues has risen from €840 million in the 2020-2021 financial year, to €1.3 billion in the 2023-2024 financial year. This marks a growth of 55% over the last four years.<img src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/326949/image/large-0bd416e86932fbcb1ce37d6223c517c9.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIA52TLVJASOPFTPHWY%2F20240911%2Feu-west-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20240911T172056Z&amp;X-Amz-Expires=900&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Signature=4cd65987c9b2cd1e700bc2293bd2e5f4dd6df3368ca3686c3e1c6e70ec0144fe" data-gid="gid://syiq/Photo/326949">During this financial year, ending on 31 August 2024, <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut|Benetti Group</a>'s activities witnessed a surge in profitability, with their gross operating margin (EBITDA) increasing by 30% year-on-year. This growth was driven by business expansion and enhanced operational efficiency at the shipyard.Since 1 January 2024, the backlog of new orders has reached €2.6 billion, projecting sustained growth through to 2029. This robust pipeline supports a promising outlook for the <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Group</a>, with anticipated double-digit growth in the 2024-2025 financial year and a revenue target of €1.5 billion.These results validate the shipyard's product strategy, which has achieved success across all segments and key geographic areas. This is reflected in the group’s order backlog distribution: Europe accounts for 40%, the Americas for 37%, and the Middle East and Africa (MEA) along with the Asia-Pacific (APAC) region for 23%.€160 million in planned investment<a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut|Benetti Group</a> has initiated an investment plan valued at €160 million during the three-year period from 2025 to 2027, to support the company's strategic priorities. The primary objective, supported by an allocation of €99.3 million, is to expand the production capacity across all the group’s shipyards. This expansion aims to address the substantial order backlog and incorporates further advancements in automation, as well as the introduction of new technologies.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/52033/image/large-9a8a843f13adba6fa7be4a1d3c076096.jpg" data-gid="gid://syiq/Photo/52033">Significant refurbishments are also planned for the <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Group</a>’s main facilities, including its renowned headquarters in Avigliana (Turin), in a project led by AMDL CIRCLE and the architect Michele De Lucchi.A further €43.2 million is earmarked for research and development, to further expand their fleet. In addition, €13.9 million will be directed towards digitisation efforts. These aim to enhance prototyping, design, and owner communication, through the increased use of virtual reality during the yacht purchasing and configuration processes.<img src="https://photo-assets.superyachttimes.com/photo/296190/image/large-463b0553fa710aae2473780ce9247995.jpg" data-gid="gid://syiq/Photo/296190"><a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut|Benetti Group</a> CEO Marco Valle commented: “After a period of unprecedented growth, we are now experiencing a physiological contraction of the market, which the <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Group</a> can manage from a position of strength thanks to the significant order backlog. In this scenario, the Group’s strategies have made and will make the difference: innovative yachts and the correct positioning of the Azimut and Benetti brands, a broad-based international presence and ongoing production evolution.”

Azimut|Benetti Group reports 55% revenue growth over four years

At the Azimut|Benetti Group press conference, the shipyard disclosed its financial results for the past yachting season.

Azimut|Benetti Group reports 55% revenue growth since 2020

The 56-metre <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> sailing yacht is 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>. Delivered in 2009, the <a href="https://www.superyachttimes.com/yachts/perini-navi/for-sale" rel="noopener noreferrer" target="_blank" title="">Perini Navi yacht for sale</a> displays exterior design by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, naval architecture by <a data-gid="gid://syiq/Company/52" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ron Holland Design (Company)">Ron Holland Design</a>, and interiors designed by <a data-gid="gid://syiq/Company/533" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rémi Tessier (Company)">Rémi Tessier</a>.<img src="https://photo-assets.superyachttimes.com/photo/326943/image/large-28faa1e817ab833469dde88e39589f72.png" data-gid="gid://syiq/Photo/326943"><a data-gid="gid://syiq/Yacht/1387" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asahi56.0m (183'9&quot;)Perini Navi2009">Asahi</a> underwent an extensive refit in 2023. Her hull and stern were repainted, the teak decking was renewed, and the yacht's IT and AV systems were upgraded. The refit also included a new galley, updated flooring in the main salon and dining area, and modern LED lighting throughout.<img src="https://photo-assets.superyachttimes.com/photo/326917/image/large-f6e724b3debe57674dc12470654f5f03.png" data-gid="gid://syiq/Photo/326917">The <a href="https://www.superyachttimes.com/yachts/sailing/for-sale" rel="noopener noreferrer" target="_blank" title="">sailing yacht for sale</a> accommodates up to 12 guests in six elegant staterooms. <a data-gid="gid://syiq/Yacht/1387" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asahi56.0m (183'9&quot;)Perini Navi2009">Asahi</a>'s master suite spans the full beam of the yacht and includes a vanity area, a sofa, a spacious wardrobe, and an ensuite bathroom with both a bathtub and shower. <img src="https://photo-assets.superyachttimes.com/photo/326923/image/large-4384a57e252116f36bae215cf78e632d.png" data-gid="gid://syiq/Photo/326923">The additional guest rooms consist of two VIP staterooms, two twin suites each with a Pullman berth, and a suite with upper and lower bunks, suitable for children or staff. The yacht also provides accommodation for up to 10 crew members, including the captain.<img src="https://photo-assets.superyachttimes.com/photo/326920/image/large-d8a497babfcde4d9c1a26be737951cb9.png" data-gid="gid://syiq/Photo/326920">Among <a data-gid="gid://syiq/Yacht/1387" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asahi56.0m (183'9&quot;)Perini Navi2009">Asahi</a>'s standout features are a fold-down beach club, dual forward tender garages, and a new 12-metre Protector chase boat, along with a selection of water toys for guests to enjoy.<img src="https://photo-assets.superyachttimes.com/photo/326938/image/large-e17579d267056ba60a73eb72566b23e4.png" data-gid="gid://syiq/Photo/326938">The <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> <a data-gid="gid://syiq/Yacht/1387" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asahi56.0m (183'9&quot;)Perini Navi2009">Asahi</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, offering a cruising speed of 12.5 knots and a top speed of 15.5 knots. With a range of 3,500 nautical miles, she is well-suited for long-distance cruising.<img src="https://photo-assets.superyachttimes.com/photo/326934/image/large-c6bb55596a832988c829e8fe0196e5c5.png" data-gid="gid://syiq/Photo/326934">The <a href="https://www.superyachttimes.com/yachts/perini-navi/for-sale" rel="noopener noreferrer" target="_blank" title="">Perini Navi yacht for sale</a> will be at anchor during the <a data-gid="gid://syiq/Event/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2024">2024 Monaco Yacht Show</a>.

56m Perini Navi yacht Asahi for sale 

56m Perini Navi yacht Asahi, refit in 2023, is for sale through Edmiston. Available for viewing at the 2024 Monaco Yacht Show.

The 28.96-metre <a data-gid="gid://syiq/Company/3490" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cookson Boats (Company)">Cookson</a> sailing yacht <a data-gid="gid://syiq/Yacht/8213" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sorcerer II 28.96m (95'0&quot;)Cookson Boats1998">Sorcerer II</a> is for sale with Elizabeth Swain and Hank Halsted of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>. The <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> was delivered in 1998 and features both exterior design and naval architecture by <a data-gid="gid://syiq/Company/171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="German Frers (Company)">German Frers</a>, while her interior was penned by <a data-gid="gid://syiq/Company/7853" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Brad Collett (Company)">Brad Collett</a>.<img src="https://photo-assets.superyachttimes.com/photo/326773/image/large-038e3e30669dcbb170953b200e9141da.jpg" data-gid="gid://syiq/Photo/326773"><img src="https://photo-assets.superyachttimes.com/photo/326781/image/large-0eb552d3a5a8d263034b142029a103f0.png" data-gid="gid://syiq/Photo/326781"><img src="https://photo-assets.superyachttimes.com/photo/326782/image/large-b9a4fbe622828223a7dd5d2ee8b3ba03.png" data-gid="gid://syiq/Photo/326782"><img src="https://photo-assets.superyachttimes.com/photo/326783/image/large-3137d3909a5ca2373995d6b303f1871e.png" data-gid="gid://syiq/Photo/326783"><a data-gid="gid://syiq/Yacht/8213" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sorcerer II 28.96m (95'0&quot;)Cookson Boats1998">Sorcerer II</a> can accommodate six guests across three staterooms, as well as four crew members, including the captain. The accommodations are designed for comfort during long passages. The full-width master suite aft features a king-size berth and private access to the cockpit. The two guest suites each have twin berths that convert into queen beds, with additional Pullman berths for extra flexibility. Each stateroom includes its own en-suite head with a stall shower, ensuring privacy and convenience.<img src="https://photo-assets.superyachttimes.com/photo/326779/image/large-eea3f4ba80302a0fed8d3ac92ba31557.png" data-gid="gid://syiq/Photo/326779"><img src="https://photo-assets.superyachttimes.com/photo/326780/image/large-b517d8077087b65d279f0427ec42e049.png" data-gid="gid://syiq/Photo/326780">The <a href="https://www.superyachttimes.com/yachts/sailing/for-sale" rel="noopener noreferrer" target="_blank" title="">sailing yacht for sale</a> features a contemporary and versatile saloon that includes a dining area as well as a separate seating and relaxation area. The contrast between the wooden furnishings and neutral tones enhances the sophisticated ambiance of the space.<img src="https://photo-assets.superyachttimes.com/photo/326784/image/large-fe177d9808c29c3ee990d5634f9eb5a1.png" data-gid="gid://syiq/Photo/326784"><img src="https://photo-assets.superyachttimes.com/photo/326785/image/large-3010bf72ad7663638d47d11b1acb14c7.png" data-gid="gid://syiq/Photo/326785">Exterior features on the <a href="https://www.superyachttimes.com/yachts/sorcerer-ii/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht Sorcerer II for sale</a>, include teak side decks that are wide and easy to navigate, leading from the aft cockpit to the foredeck where the tender is stowed. The aft cockpit is equipped with comfortable seating and a scuba tank filling station, ideal for relaxing after a day on the water. For sailing, <a data-gid="gid://syiq/Yacht/8213" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sorcerer II 28.96m (95'0&quot;)Cookson Boats1998">Sorcerer II</a> is outfitted with a North 3Di mainsail and hydraulic furlers, designed for easy handling with minimal effort.<img src="https://photo-assets.superyachttimes.com/photo/326786/image/large-921a4f54c3956336f68013fd17e26341.png" data-gid="gid://syiq/Photo/326786">The <a href="https://www.superyachttimes.com/yachts/cookson-boats/sailing/for-sale" rel="noopener noreferrer" target="_blank" title="">Cookson yacht for sale</a> has a GRP hull and superstructure. Performance-wise, she is powered by a single <a data-gid="gid://syiq/Company/1483" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cummins Inc. (Company)">Cummins</a> engine.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/326787/image/large-4f3e4897611146cf46f745a1c1268f05.png" data-gid="gid://syiq/Photo/326787">

29m Cookson sailing yacht Sorcerer II for sale

The 29m Cookson sailing yacht Sorcerer II is for sale with Elizabeth Swain and Hank Halsted of Northrop & Johnson.

The 31.8-metre motor yacht <a data-gid="gid://syiq/Yacht/11172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jacqpot31.8m (104'4&quot;)Overmarine Group SPA2023">Jacqpot</a>, delivered in 2023 by Italian builder <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Mangusta</a>, has entered the market with David Westwood of <a data-gid="gid://syiq/Company/4547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TWW Yachts (Company)">TWW Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/326850/image/large-ac45f8009f2c580cdedfb40cdc475b7a.png" data-gid="gid://syiq/Photo/326850">Her naval architecture was penned in house by <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>, while her exterior and interior design were a collaborative effort between <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a> and <a data-gid="gid://syiq/Company/1124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lobanov Design (Company)">Lobanov Design</a>.<img src="https://photo-assets.superyachttimes.com/photo/326841/image/large-be4a559b0f2618110d2c922ef9017055.jpg" data-gid="gid://syiq/Photo/326841"><a data-gid="gid://syiq/Yacht/11172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jacqpot31.8m (104'4&quot;)Overmarine Group SPA2023">Jacqpot</a> is the third in the <a data-gid="gid://syiq/YachtModel/8964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mangusta 104 REV Sport 31.8m (104'4&quot;)">Mangusta 104 Rev Sport</a> series, with a GRP hull and superstructure, as well as teak decks.&nbsp;This <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a> <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> was refit this year. <img src="https://photo-assets.superyachttimes.com/photo/326845/image/large-4f47534c789334ff6e05712aacd75b78.jpg" data-gid="gid://syiq/Photo/326845">With a beam of 7.1-metres, a draft of just 1.5-metres, and a volume of 165 GT, she accommodates eight guests across four suites, with additional quarters for four crew members.<img src="https://photo-assets.superyachttimes.com/photo/326848/image/large-9c452f950813c316263ec1a2c34658f3.jpg" data-gid="gid://syiq/Photo/326848">Key features of this <a href="https://www.superyachttimes.com/yachts/motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> include Italian marble in all bathrooms, a swim platform with stairs and shower, carbon fibre awnings on the main and sun decks, and a new <a data-gid="gid://syiq/Company/4203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Williams Performance Tenders (Company)">Williams</a> 505 Diesel Jet tender.<img src="https://photo-assets.superyachttimes.com/photo/326847/image/large-46630bda2f91375decdf8136dcb33ab4.jpg" data-gid="gid://syiq/Photo/326847">Key highlights of the luxury yacht <a data-gid="gid://syiq/Yacht/11172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jacqpot31.8m (104'4&quot;)Overmarine Group SPA2023">Jacqpot</a> for sale include a range of advanced features enhancing both comfort and functionality, such as a CCTV system integrated into the flybridge display, an alarm notification system, and Starlink.<img src="https://photo-assets.superyachttimes.com/photo/326843/image/large-7662fda57ebc3b5fb3a94d38431277a8.jpg" data-gid="gid://syiq/Photo/326843">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, the Mangusta yacht <a data-gid="gid://syiq/Yacht/11172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jacqpot31.8m (104'4&quot;)Overmarine Group SPA2023">Jacqpot</a> for sale achieves a top speed of 35 knots and cruising speed 25 knots, offering a range of 370 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/326844/image/large-f2ad674c85ffefbcf431d36a96eb9c67.jpg" data-gid="gid://syiq/Photo/326844">

32m Mangusta yacht Jacqpot for sale

31.8-meter Mangusta motor yacht Jacqpot, delivered in 2023, has entered the market with David Westwood of TWW Yachts. 

With a key focus to client satisfaction and a legacy spanning several decades, <a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht Group</a> has established itself as a trusted name in the luxury yacht industry. Founded in 1994, <a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a> has grown to become a premier dealer for the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>. Over the years, their presence has expanded significantly, with 16 offices across multiple countries and 10 service points strategically located along the Adriatic coastline. This extensive network ensures that they are always within reach to meet their clients' needs.<img src="https://photo-assets.superyachttimes.com/photo/326296/image/large-cbcb95ba1adf891dbda2295c2e12f640.jpg" data-gid="gid://syiq/Photo/326296">In the last ten years, they further broadened their charter department, led by Eva Jeraša. They’ve also expanded its services significantly, working under <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> terms and conditions and maintaining high industry standards, comparable to the market leading brokerage houses. A notable detail is also their membership with both CYBA (Charter Yacht Broker Association) and CRO.Y.A. (Croatian Yachting association). In recent years, the department has shifted its focus also towards charter management, offering Yacht owners an opportunity to offset their operational costs, meanwhile increasing their yachts value, their crew’s experiences and the yachts standard and maintenance.<img src="https://photo-assets.superyachttimes.com/photo/326290/image/large-c3bbc3f41603cd2d7792dd4b0ba36fdf.jpg" data-gid="gid://syiq/Photo/326290">Currently the <a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">MennYacht</a> charter management fleet consists of: 20.32-metre <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess</a> V65 MeSoFa, a 29.20-metre <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> 960 <a data-gid="gid://syiq/Yacht/11945" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damari29.2m (95'10&quot;)Ferretti Yachts2019">Damari</a>, a 30.12-metre <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a> 1000 <a data-gid="gid://syiq/Yacht/11800" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="B.A. 1330.13m (98'10&quot;)Ferretti Yachts2024">B.A.13</a>, and a 29.9-metre <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a> 100 Corsaro <a data-gid="gid://syiq/Yacht/12345" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Stress29.9m (98'1&quot;)Riva S.p.A.2019">No Stress</a> 888.<img src="https://photo-assets.superyachttimes.com/photo/326291/image/large-a1c7e3e2c99ae77472639fb9bb8d7e1a.jpg" data-gid="gid://syiq/Photo/326291"><a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">Mennyacht Group</a> also specialises in yacht charter brokerage. They offer a worldwide charter, working with yachts of all sizes, crafting guests' experience from start to finish, as they assist with finding the fitting yacht, advising, forming itineraries, choosing the right destination, assisting guests needs before, during and after the time spent on board. What makes them extraordinary in this sector is their involvement; they regularly attend fairs and are set on knowing both the yachts, as well as the crew and destinations that they are providing to their clients.At <a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">MennYacht</a>, their success is built on the trust of their clients and their unwavering commitment to exceeding expectations. We sat down with Eva Jeraša to explore the unique advantages of choosing <a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">MennYacht</a> for all your charter needs, where their focus is always on delivering amazing experiences that make every journey special.<a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">MennYacht</a>’s individualised approach and attention to detail&nbsp;At <a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">MennYacht</a>, client needs, desires and preferences are thoroughly considered before recommending the most suitable yacht and destination. Tailored itineraries are crafted with thoughtful attention to activities and locations. The comprehensive service extends to include curated recommendations for restaurants, transfer logistics and accommodations. Effective collaboration with the yacht captain is essential; meticulous communication is maintained to manage all aspects of the charter. This careful management ensures that any issues are addressed promptly, reducing potential misunderstandings during the charter experience.<img src="https://photo-assets.superyachttimes.com/photo/326298/image/large-17b35d1ceaa5930e2727d0a5612ae5c0.jpg" data-gid="gid://syiq/Photo/326298">Comprehensive management of their yacht charter fleet&nbsp;<a data-gid="gid://syiq/Company/5584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MennYacht Group (Company)">MennYacht</a>'s management of their charter fleet offers a full range of services. They meticulously oversee every aspect of charter operations, including conducting photo shoots, outfitting yachts, consulting with owners, and coordinating with the crew. This extensive involvement ensures that each yacht meets the company's stringent standards. The thorough preparation of the crew and diligent maintenance of the yachts allow <a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a> to present their fleet with confidence to other brokers and clients, ensuring complete assurance in their offerings.<img src="https://photo-assets.superyachttimes.com/photo/326300/image/large-b3a2231c26e1e0c75175c7c0127c5c2a.jpg" data-gid="gid://syiq/Photo/326300"><img src="https://photo-assets.superyachttimes.com/photo/326298/image/large-17b35d1ceaa5930e2727d0a5612ae5c0.jpg" data-gid="gid://syiq/Photo/326298">Extensive expertise and local knowledge<a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a>’s operations are concentrated primarily on the Adriatic Coast, where they maintain a significant presence, especially in Croatia, with ten offices along the Croatian coastline. This strategic positioning enables them to leverage their local expertise to deliver optimal charter services in the region.<img src="https://photo-assets.superyachttimes.com/photo/301864/image/large-5bf0ccd0a212e0d7335f4639279129d1.jpeg" data-gid="gid://syiq/Photo/301864">Additionally, <a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a> offers charter services in other coveted regions, including Italy, the south of France, the Balearics and Greece. Their representatives regularly visit these locations to maintain the highest standards of yacht quality and crew service. This proactive approach greatly enhances their capability to facilitate and promote the ideal charter experiences for their clients.<img src="https://photo-assets.superyachttimes.com/photo/326295/image/large-8e3c10d37da413d8662cf9446ee4d88c.jpg" data-gid="gid://syiq/Photo/326295">Modern yacht selection and experience with younger clientele<a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a> also offers a fleet of modern yachts, each equipped with the latest technologies such as high-speed Starlink internet connectivity. These vessels are tailored to satisfy the demands of today’s tech-savvy travellers, ensuring a seamless and opulent experience on the water.<img src="https://photo-assets.superyachttimes.com/photo/326297/image/large-fb6d2cab610bb08e80af346f8b699165.jpg" data-gid="gid://syiq/Photo/326297">Additionally, <a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a> has extensive experience catering to younger clientele, particularly affluent young adults and families who prioritise innovation and luxury. This group is increasingly investing in premium charter experiences, highlighting a trend that <a href="https://www.mennyacht.com/charter/" rel="noopener noreferrer" target="_blank" title="">MennYacht</a> is well-equipped to accommodate.<img src="https://photo-assets.superyachttimes.com/photo/326299/image/large-6864ed494495f5ec179cd1de84015877.jpg" data-gid="gid://syiq/Photo/326299">

Why you should plan your yacht charter with MennYacht

With a key focus to client satisfaction, MennYacht Group has established itself as a trusted name in the yacht industry.

<a data-gid="gid://syiq/Company/5681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austin Parker Yachts (Company)">Austin Parker</a> introduced the ICONICA 100, the latest addition to its new range of yachts at <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>.<img src="https://photo-assets.superyachttimes.com/photo/326874/image/large-1d23ec5a1139663d1585bdc601505f4c.png" data-gid="gid://syiq/Photo/326874">The new range will feature two distinct lines: UNICA, a line of catamarans named for their unique characteristics, and ICONICA, a line of navettas. &nbsp;Today, the ICONICA 100 was unveiled, with the 88 and 77 models set to be introduced later. Meanwhile, the UNICA 58 is currently on display at Cannes, and the UNICA 66 and 77 will be announced in the future. All &nbsp;models are developed in collaboration with <a data-gid="gid://syiq/Company/4640" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pininfarina (Company)">Pininfarina</a> and <a data-gid="gid://syiq/Company/585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fulvio De Simoni Yacht Design (Company)">Fulvio De Simoni Design Studio</a>. <img src="https://photo-assets.superyachttimes.com/photo/326875/image/large-e5d4d219274381ec173d066a428895e1.png" data-gid="gid://syiq/Photo/326875"><img src="https://photo-assets.superyachttimes.com/photo/326876/image/large-2ca2dff384e739ac985d823606ba5cf3.png" data-gid="gid://syiq/Photo/326876"><img src="https://photo-assets.superyachttimes.com/photo/326873/image/large-0961079b230577d0321cbba6f55b3563.png" data-gid="gid://syiq/Photo/326873">“<a data-gid="gid://syiq/Company/5681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austin Parker Yachts (Company)">Austin Parker</a>’s new range of yachts represents our commitment to innovation, luxury, and sustainability,” said Mr.Nalcaci, president of <a data-gid="gid://syiq/Company/5681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austin Parker Yachts (Company)">Austin Parker</a>. “Inspired by the UNICA58, which was presented last year at Cannes, and embodying the spirit of <a data-gid="gid://syiq/Company/4640" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pininfarina (Company)">Pininfarina</a> and <a data-gid="gid://syiq/Company/585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fulvio De Simoni Yacht Design (Company)">De Simoni</a>, these new yachts reflect our dedication to excellence and our vision for the future of yachting.”<img src="https://photo-assets.superyachttimes.com/photo/326879/image/large-421735a6d45e7582157b235f8e49d4d0.jpg" data-gid="gid://syiq/Photo/326879"><img src="https://photo-assets.superyachttimes.com/photo/326880/image/large-f31d74e739c51ab3d35b7f012fde8e6d.jpg" data-gid="gid://syiq/Photo/326880">The ICONICA series features expansive living areas surrounded by large windows, allowing substantial natural light into the interiors. The ICONICA 100 includes a two-level aft entrance that leads to a loft-style beach club and guest accommodations on the lower deck. The main salon and owner's stateroom, situated on the upper deck, come complete with a private terrace. The beach club provides direct access to the guest accommodations, enhancing comfort and convenience. Crew accommodations and service areas are strategically positioned to ensure privacy for both guests and staff.<img src="https://photo-assets.superyachttimes.com/photo/326878/image/large-72af6bebe34d89fee451c8d0b285f2c3.jpg" data-gid="gid://syiq/Photo/326878"><img src="https://photo-assets.superyachttimes.com/photo/326882/image/large-ba0cf752ca827e2b1fc28a7080592c6a.jpg" data-gid="gid://syiq/Photo/326882">"Designing a new line of boats for a shipyard carries significant responsibility, and I am grateful to Mr. Nalcaci for his strong faith in our work," stated Fulvio De Simoni, CEO of <a data-gid="gid://syiq/Company/585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fulvio De Simoni Yacht Design (Company)">Fulvio de Simoni Yacht Design</a>. "Our task is to anticipate trends, envision new uses for onboard spaces, and establish a distinctive style that represents the shipyard. Collaborating and exchanging ideas with such a distinguished partner has been truly invigorating. I believe that together, we are crafting projects of exceptional quality."<img src="https://photo-assets.superyachttimes.com/photo/326877/image/large-9086013482e02ed384c9d74c4d091285.png" data-gid="gid://syiq/Photo/326877"><img src="https://photo-assets.superyachttimes.com/photo/326871/image/large-5726a465464374791346571fd0246526.png" data-gid="gid://syiq/Photo/326871">

Austin Parker unveils new range of yachts designed by Pininfarina and Fulvio De Simoni

Austin Parker unveiled the Iconica 100, the latest addition of its new range of luxury yachts announced at this year's Cannes Yachting Festival.

Austin Parker unveils the design of the new 30m navetta ICONICA 100

The 33-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/10130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Modo Mio33.0m (108'3&quot;)Custom Line2021">Modo Mio</a> has been sold in an in-house <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a> deal. Sean Fenniman introduced the buyer, whilst Chris Holtzheuser represented the seller. <img src="https://photo-assets.superyachttimes.com/photo/277456/image/large-b91f5e8bd882a9d995a7ef673ebbe50e.jpg" data-gid="gid://syiq/Photo/277456">Delivered in 2021 as part of the <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 33 series, <a data-gid="gid://syiq/Yacht/10130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Modo Mio33.0m (108'3&quot;)Custom Line2021">Modo Mio</a> features both exterior and interior design 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 by <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>. She can accommodate up to 10 guests across five staterooms, as well as five crew members, including the captain. <img src="https://photo-assets.superyachttimes.com/photo/278203/image/large-a1320b05039e320bf7e5dbce686cad21.jpg" data-gid="gid://syiq/Photo/278203"><a data-gid="gid://syiq/Yacht/10130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Modo Mio33.0m (108'3&quot;)Custom Line2021">Modo Mio</a> showcases a spacious, contemporary-designed salon with an elegant sofa and a minimalistic table, providing ample room for the owner and guests to socialise.<img src="https://photo-assets.superyachttimes.com/photo/278204/image/large-d6c8b71132ea911bc5c9f9a1622e10ad.jpg" data-gid="gid://syiq/Photo/278204"><a data-gid="gid://syiq/Yacht/10130" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Modo Mio33.0m (108'3&quot;)Custom Line2021">Modo Mio</a> has a GRP hull and superstructure. Performance-wise, she 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, which give her a cruising speed of 12 knots and a top speed of 15 knots.<img src="https://photo-assets.superyachttimes.com/photo/278202/image/large-092ea16a26d4641035d17bc70f7c27dd.jpg" data-gid="gid://syiq/Photo/278202">

33m Custom Line motor yacht Modo Mio sold

The 33-metre Custom Line motor yacht Modo Mio has been sold in an in-house Allied Marine deal.

33m Custom Line motor yacht Modo Mio sold in-house

A new superyacht concept, Zeitgeist, has been revealed by Swiss designer Kurt Merki Jr. The 86.5-metre yacht promises to redefine sustainable luxury at sea, blending cutting-edge technology with eco-conscious design. Her unveiling is set for the <a data-gid="gid://syiq/Event/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2024">2024 Monaco Yacht Show.</a><img src="https://photo-assets.superyachttimes.com/photo/326791/image/large-889721ca24fe6cf2918ea9806dd536b3.jpg" data-gid="gid://syiq/Photo/326791">Harnessing renewable energy, Zeitgeist integrates three wind turbines and over 800 square metres of solar panels into her design, providing supplementary power.<img src="https://photo-assets.superyachttimes.com/photo/326793/image/large-666a0b224d6a609754acd4cfd596d560.jpg" data-gid="gid://syiq/Photo/326793">The yacht’s sustainable focus is enhanced by innovative materials, including natural fibre composites, vegan cactus leather, and bio-based decking.<img src="https://photo-assets.superyachttimes.com/photo/326796/image/large-f11b5cc933486464ac6668c410fdb2bc.jpg" data-gid="gid://syiq/Photo/326796">Merki’s vision for Zeitgeist includes a host of features that highlight both luxury and function.<img src="https://photo-assets.superyachttimes.com/photo/326797/image/large-54dc23fe57d4730688c829963b0fecda.jpg" data-gid="gid://syiq/Photo/326797"> &nbsp;The superyacht is equipped with a dedicated landing pad for electric Vertical Take-Off and Landing (e-VTOL) aircraft, an expansive 80-square-metre owner's terrace, and an infinity pool at the aft beach club. <img src="https://photo-assets.superyachttimes.com/photo/326794/image/large-d9dc88548534e603b4dcb4ee9c95a236.jpg" data-gid="gid://syiq/Photo/326794">A hidden sky deck, shielded by the solar roof, provides an intimate space for relaxation while generating power for the vessel.<img src="https://photo-assets.superyachttimes.com/photo/326799/image/large-6059f611e1aa3210125daf501744fb1c.jpg" data-gid="gid://syiq/Photo/326799">The design also includes a fully automated vertical garden on the lower deck, where chefs can grow fresh herbs and vegetables.<img src="https://photo-assets.superyachttimes.com/photo/326652/image/large-493d9f9fcd4604359b9bcbe8309533be.jpg" data-gid="gid://syiq/Photo/326652">Michael Köhler, former owner of <a data-gid="gid://syiq/Company/5188" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Silent Yachts (Company)">Silent Yachts</a>, offered consultation on the yacht’s solar technology.Merki describes the yacht as a reflection of “next-generation yacht owners” who prioritise sustainability. <img src="https://photo-assets.superyachttimes.com/photo/326803/image/large-fe304489b59e53dfba68d853405855ea.jpg" data-gid="gid://syiq/Photo/326803">He explains that Zeitgeist is designed not only for luxury but also to minimise environmental impact, recognising the need to safeguard the oceans for future generations.<img src="https://photo-assets.superyachttimes.com/photo/326647/image/large-a717cd4bdf43011188a54a0995e62f6d.jpg" data-gid="gid://syiq/Photo/326647">Studio KMJ, Merki’s Switzerland-based design firm, has collaborated with several forward-thinking companies on the concept’s materials and technologies. Zeitgeist joins a growing trend in the superyacht industry, where designs are evolving to meet the demands of an increasingly eco-conscious clientele.<img src="https://photo-assets.superyachttimes.com/photo/326802/image/large-167e7bab8738fca224de315304986cc8.jpg" data-gid="gid://syiq/Photo/326802">

New superyacht concept Zeitgeist for next-generation yacht owners

 Introducing Zeitgeist, an 86.5m superyacht concept by Kurt Merki Jr., blending sustainable technology with luxury.