Isle of Man based Dominion Marine has been providing yacht and superyacht corporate ownership solutions to the yachting industry since 1984. Founder and director Chris Allix closely monitors changes to EU VAT and marine legislation to make sure the best and most cost-effective ownership structures are developed.Due to recent changes to EU VAT regulations, the ratification of the Maritime Labour Convention (MLC) and stricter requirements for commercial registration, Dominion Marine has launched a new and unique VAT deferment structure for pleasure yacht owners.<img alt="" src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/145237/image/large-eb9da76afeb0fad707a49432c7c313f5.jpg" data-gid="gid://syiq/Photo/145237">We asked Chris to tell us more about this new product: "I am very excited to announce the launch of our new VAT solution for pleasure yacht owners. We have been working hard behind the scenes, meeting with the relevant authorities and seeking tax and legal opinions to make sure, as always, we are fully compliant.Dominion Marine SARL has been incorporated and VAT registered in the Principality of Monaco to provide this solution to our clients. We already have vessels using the structure so it has been tried and tested.This solution is ideal for pleasure yacht ownership and is based on a 5 year bare boat rental contract. The owner defers the payment of VAT on the acquisition of the yacht and only pays VAT on its depreciation, in accordance with European Court judgements.At the end of the 5 year period the client has the option to enter into a new rental period. Should the client decide to sell the yacht, there are no penalties and all options relating to the tax on the yacht remain open."The team at Dominion Marine believes there is a market for this new product due to the decrease in commercial charters and recent VAT changes affecting the commercial yacht industry. According to the Superyacht Index, published by Campers &amp; Nicholson, the total sold weeks in the charter market for the 24m-30m yachts was down 7.6% in 2012 compared to 2010 and the 30m-50m yachts down 6.9% (source: <a href="http://www.superyachttimes.com/SY-Index-2013/SYT-CNI-SuperYachting-Index-2013.pdf" target="_blank">(super)Yachting Index</a>).Chris Allix told us the complexities and extra costs of running a commercial yacht are increasing all the time, making it harder to offset those costs with revenue from charters. The decrease in charters together with the implications of the new MLC regulations for commercially registered yachts is giving yacht owners cause for reflection."I have been in the industry long enough to know how difficult it has become to operate a commercial yacht. I think the time has come for many superyacht owners to go back to using their yachts purely for pleasure. I highly recommend this new VAT deferment structure to yacht and superyacht owners who are no longer interested in running their vessel as a commercial enterprise.The fact it is based in Monaco will also make life easier for them as that is where the paperwork has to be signed. The vessel has to visit Monaco to sign the rental agreement but of course many yachts are already berthed there or just around the corner along the French Riviera!"Dominion Marine will be exhibiting at the Monaco Yacht Show from 25-28 September 2013. Chris Allix will be joined by Catherine Connolly of Dominion Marine, Jackie Baker of Dominion Consultants and Simon Roberts of Dominion Crew Solutions.To book an appointment at the show, please contact Jackie Baker on <a href="mailto:info@i.im?subject=Article%20on%20SuperYachtTimes.com">info@i.im</a>.Dominion Marine Chris Allix +44 (0)7624 490988 <a href="mailto:ca@i.im?subject=Article%20on%20SuperYachtTimes.com">ca@i.im</a> <a href="http://www.i.im" target="_blank">www.i.im</a>

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Monaco VAT solution for yachts

A new yacht brokerage firm, <a data-gid="gid://syiq/Company/6982" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma Yachting (Company)">Karma Yachting</a>, has been founded by Mario Cicognani and Karin Paggi, professionals with a cumulative experience of 32 years in the purchase, sale, and construction of yachts ranging from 30 to 60 meters. The two brokers have joined forces to offer clients 'expertise, reliability, and a well-established network of industry experts'. <img src="https://photo-assets.superyachttimes.com/photo/272056/image/large-2b4ec4d37307b89e90bb6de5ad3616ee.jpg" data-gid="gid://syiq/Photo/272056">As Cicognani says, "Whether it involves a new build, purchasing, or selling superyachts, we are committed to providing a fully customised service that ensures flawless, fast, easy, and transparent processes. We place great importance on discretion and attentively listening to individual needs in order to meet our customers' requirements, while also ensuring a pleasant and stimulating customer experience."<img src="https://photo-assets.superyachttimes.com/photo/272057/image/large-dab6546dfb423f5d944a6565997e80c3.jpg" data-gid="gid://syiq/Photo/272057"><a data-gid="gid://syiq/Company/6982" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma Yachting (Company)">Karma Yachting</a> will offer its clients a boutique brokerage approach. As Paggi emphasises, "We serve as a constant point of reference and have established long-standing relationships with our customers based on trust. At <a data-gid="gid://syiq/Company/6982" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma Yachting (Company)">Karma Yachting</a>, clients are free to choose their degree of participation and involvement in the project at any time. We can offer our clients an extensive list of professionals to choose from, including lawyers, designers, surveyors, and management companies, based on their preferences, experience, and sensitivity. By listening to their wishes and expectations, we deliver a tailor-made service and always recommend the best possible solution."<img src="https://photo-assets.superyachttimes.com/photo/272055/image/large-f90b86a842173a5db10923173040de7a.jpg" data-gid="gid://syiq/Photo/272055">The name <a data-gid="gid://syiq/Company/6982" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Karma Yachting (Company)">Karma Yachting</a>, in addition to being an amalgamation of the founders' names, also represents their philosophy of life, both in private and professional realms: to act in a correct and ethical manner.

Karma Yachting brokerage firm founded

A new yacht brokerage firm Karma Yachting has been founded by two Italian brokers. 

New yacht brokerage firm Karma Yachting has been launched

The Australian refit and maintenance yard <a data-gid="gid://syiq/Company/5437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Boat Works (Company)">The Boat Works</a> has expanded its capacity with a new 90-tonne travel lift. <a data-gid="gid://syiq/Company/5437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Boat Works (Company)">The Boat Works</a> now has five machines operating over both yards, lifting every type of vessel up to 300-tonnes. <img src="https://photo-assets.superyachttimes.com/photo/271396/image/large-262e69762e3293cdea5ebb23c818e1a5.jpg" data-gid="gid://syiq/Photo/271396">“To keep pace with demand, we decided to invest in this variable width, all-wheel drive machine,” &nbsp;explained <a data-gid="gid://syiq/Company/5437" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Boat Works (Company)">The Boat Works</a> owner, Tony Longhurst. “It has an adjustable beam width narrowing the vessels footprint from 8 metres down to 5.5 metres allowing &nbsp;the team to maximise the vessel set down footprint. This is brilliant for boat storage as we can go &nbsp;narrow for the narrower runways and use it for packing boats in tight spots.”<img src="https://photo-assets.superyachttimes.com/photo/271403/image/large-7b2678db6b2f3538e335970d91427a01.jpg" data-gid="gid://syiq/Photo/271403">Built in Italy, the machine boasts unique Dynamic Steering Control (DSC), which its manufacturer defines as “allowing seamless transfer between 4 modes with infinite adjustment between each to allow &nbsp;progressive adjustment of the radius of rotation”. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/271400/image/large-ef3dbdd75e8fce9694a90fd655441dc6.jpg" data-gid="gid://syiq/Photo/271400">DSC is an innovative steering management system developed by Boat Lift. This system allows an operator to linearly move the axis of rotation in any position between the axis of the front wheels and the rear wheels. This makes it possible to significantly reduce the manoeuvring space required for the handling and storage of boats. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/271399/image/large-b8c8cfd255ccd65151a343b3828635b2.jpg" data-gid="gid://syiq/Photo/271399">The new 90-tonne Boat Lift is currently undergoing commissioning and will be ready to haul-out boats in June 2023. “The new Boat Lift gives us more flexibility, makes us more efficient and gives owners more &nbsp;options,” said Tony Longhurst. “We can lift wide multihulls and monohulls, and we can lift a lot more boats now. This new 90-tonne machine takes our service capability to a new level!”<img src="https://photo-assets.superyachttimes.com/photo/271397/image/large-12673dafa039aa1625d3ffaae6921e1d.jpg" data-gid="gid://syiq/Photo/271397">

The Boat Works welcome 90-tonne travel lift

Australian refit yard The Boat Works has welcomed a new 90-tonne travel lift from Italy. 

Australia's The Boat Works expands capacity with new 90-tonne travel lift

<a data-gid="gid://syiq/Company/3256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rivergate Marina & Shipyard (Company)">Rivergate Marina &amp; Shipyard</a>, based on the Brisbane River in Australia, is due to go onto the market in order to facilitate its next stage of development. The shipyard and marina, which is at this time a family owned business, was founded in 2006 and has gained an international reputation for its services and facilities. It has also been a pivotal destination for the growth of the Australian and Pacific superyacht industry. <img src="https://photo-assets.superyachttimes.com/photo/263278/image/large-831c2f4566a287e7110c038ff50d0d6f.jpeg" data-gid="gid://syiq/Photo/263278"><a data-gid="gid://syiq/Company/3256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rivergate Marina & Shipyard (Company)">Rivergate</a> Director Tom Hill commented, “This has been a difficult decision for our family-owned business, but we believe the time is right for a new owner to continue our work and oversee the next exciting phase of the Rivergate story.”Read:&nbsp;<a data-gid="gid://syiq/Article/57255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Investment, expansion and the rise in the Australian superyacht market: Director Tom Hill on Rivergate Marina (2023-03-29 16:00:00 +0200)">Investment, expansion and the rise in the Australian superyacht market: Director Tom Hill on Rivergate Marina</a> <img src="https://photo-assets.superyachttimes.com/photo/224514/image/large-e191b1448da2cf7d76e308e1624c2fe5.jpg" data-gid="gid://syiq/Photo/224514"><a data-gid="gid://syiq/Company/3256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rivergate Marina & Shipyard (Company)">Rivergate</a>’s facilities include 300-tonne and 75-tonne travel lifts, a 55-metre refit shed, hardstand, berthing for vessels up to 90 metres, 24-hour fuel wharf and more than 20 world-class marine trades on site. It features a 105-berth marina with all-tide deepwater access and 24-hour refuelling.Over recent years the shipyard has announced a number of major expansion plans, securing approval for $200 million AUD expansion in 2022. Plans include a state-of-the-art 3,000-tonne ship lift, SPMT transfer system, additional open hardstand space, refit sheds and support building, and in-water service berths suitable for a wide range of superyachts, commercial and Defence vessels.&nbsp;Hill added, “Australia is ideally placed to take more advantage of the buoyant global superyacht market, which &nbsp;has seen substantial pent-up demand to visit our region if there was more capability to service &nbsp;vessels over 50 metres,” Mr Hill said. &nbsp;“Any future expansion of Rivergate would also be excellent timing for the 2032 Olympic and &nbsp;Paralympic Games to be held in Brisbane, with industry expectations that the event will attract &nbsp;around 200 superyachts.” Mr Hill said Rivergate was known not only for the expertise and meticulousness of the tradespeople &nbsp;that refit and repair superyachts, but a level of customer service second to none. &nbsp;“With our strong global brand, highly experienced management team and staff in place and track &nbsp;record of successfully servicing hundreds of superyachts and commercial vessels over the past 17 &nbsp;years, Rivergate represents a rare market opportunity,” he said.

Rivergate Marina and Shipyard for sale

Rivergate Marina and Shipyard seeks new owner. 

Rivergate Marina and Shipyard seeks new owner

<a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> partner and long-term friend of the company Mario Veloná has passed away. <img src="https://photo-assets.superyachttimes.com/photo/270213/image/large-8c17263f0adcfdb613f5767a259ba046.jpg" data-gid="gid://syiq/Photo/270213">Mario was a successful yacht Captain before joining forces with fellow Captain Marco Vandoni to create Veloná Yachting in 1997. Veloná Yachting operated for a number of years before it became part of <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> in 2005.Mario continued as a Director and Broker before falling in love with the natural beauty and local culture of Costa Rica where he retired in 2018. An aggressive illness forced Mario to return to the South of France where, in the presence of Ayrton and Alex, he peacefully sailed away on Tuesday, 9th May.<img src="https://photo-assets.superyachttimes.com/photo/270214/image/large-c71ad4eb56cca87cc0cc66ffb8e0bdbf.jpg" data-gid="gid://syiq/Photo/270214">“Mario was an expert member of the yachting industry and gifted with a free spirit, genuine interest in people and immense charm. Mario will be fondly remembered and greatly missed by family and friends, his former colleagues at <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> and all who worked with him in the yachting industry,” commented <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a>.A service will be held in Nice (Crematorium de la Metropole Nice) on Monday 15th May at 4pm. After that, friends are invited to get together in remembrance of Mario at “La Cambuse” in the Port of Cap D’Ail.

Ocean Independence partner Mario Veloná passes away

Ocean Independence partner and long-term friend of the company Mario Veloná has passed away.

From concept to completion, the new 4,300-tonne shiplift at <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92 La Ciotat</a> was four years in the making at a cost of at least €70 million. A truly international venture, the project brought together contractors from half a dozen countries to resolve the many logistical, engineering and environmental challenges. We take a closer look at how it was done.<img src="https://photo-assets.superyachttimes.com/photo/261587/image/large-039002e970e80a7ca246214bed1d7e09.jpg" data-gid="gid://syiq/Photo/261587">It is difficult to appreciate the sheer scale of the new shiplift in <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">La Ciotat</a> unless you’re standing on top of it. The platform itself is 100 metres long, 20 metres wide, 2.7 metres deep and weighs 1,100 tonnes. It is now open for business, but the total redeveloped area covers 40,000 square metres and construction work continues on the peripheral infrastructures.The design and construction of a shiplift is composed of four principal activities: civil works, lift and transfer systems, platform fabrication, and installation followed by commissioning. The most cost-effective approach is for the shipyard to act as the general contractor and issue separate contracts for each of the activities. <img src="https://photo-assets.superyachttimes.com/photo/261585/image/large-76295cb817ddfe17c4cc27eb302e3055.jpg" data-gid="gid://syiq/Photo/261585"><a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92 Group</a> divided the cost of the shiplift with <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">La Ciotat Shipyards</a>, the public company that manages the port area, but has spent an additional €13 million on adjacent facilities. The total stake represents a formidable asset for the refit shipyard, which can now host up to six more 100-metre plus superyacht on the hard, adding to an infrastructure that already includes a 2,000-tonne yacht lift, 600-tonne crane, 300-travel lift and 200-metre dry dock.&nbsp;Installing a shiplift in La Ciotat had been envisaged by <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92</a> ever since it acquired a majority stake in <a data-gid="gid://syiq/Company/5474" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CompositeWorks (Company)">CompositeWorks</a> in 2017. Work got under way the following year with preliminary simulations in compliance with French regulations and safety codes to determine the optimal size of the shiplift based on the land area available.“Every increase in lifting capacity is accompanied by an exponential increase in cost, so the final 4,300-tonne capacity represents the best balance between cost, commercial opportunities and the space we had to work with,” says Joe Degabriele, Senior Business Development Manager at <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92 La Ciotat</a> tasked with commercialising the shiplift.<img src="https://photo-assets.superyachttimes.com/photo/261582/image/large-57990f9cf95d2e2aaa6476f37e7ec399.jpg" data-gid="gid://syiq/Photo/261582">Bardex Corporation, a US-based specialist in heavy load handling and positioning equipment, was contracted to oversee the design of the shiplift and transfer systems. In order to better understand the local business culture and practices, Bardex chose to partner with Matière SAS, a French engineering and construction company.“The design process starts by understanding the client’s needs and objectives for the facility, says Robert Taylor, senior structural engineer at Bardex. “We also investigate the site setting, access to and from the facility, the yard arrangement and the geological conditions. All of these inform us about the types of foundation system, yacht transfer arrangement and implementation plan that is most appropriate for the project.”Weight-liftingShiplifts are all about are speed and efficiency. In La Ciotat the entire process of lifting and positioning a yacht on the hard takes less than three hours, whereas the same procedure in a traditional graving dock requires the best part of a day. A shiplift can serve multiple parking places, but a dry dock usually hosts just one vessel at a time.&nbsp;The shiplift relies on very different technology from classic winches and cables. The Chain Jack Lift system is widely used in military shipyards for lifting warships and nuclear submarines. Powered by hydraulic rams, a chain jack hoists by engaging and pulling in a short length of chain, engaging a stop pin, retracting and repeating the process. <img src="https://photo-assets.superyachttimes.com/photo/261584/image/large-53a9dbfa280b0d59027c0314124af81d.jpg" data-gid="gid://syiq/Photo/261584">The system offers more precise movement of the platform than wire ropes or cables, which are prone to stretching (Lloyd’s requires 20 per cent of wire ropes to be removed and destructively tested each year and all wire ropes to be replaced every 5-10 years). La Ciotat has 20 chain jack units, 10 on each side of the pit, and each has two closed-loop chains for 100 percent redundancy.The lifting procedure is complex because it involves coordinating the motion of 20 devices connected to the same platform. The system moves one pitch, or two links of chain, each cycle for all 40 chains (factory tests show that the movement of the chain jacks can be coordinated to within one millimetre of each other). The entire lift system resets every cycle, which prevents the accumulation of differential elevation. To ensure all the units are working in perfect synchronisation, remote sensors relay the parameters in real-time to the central command system.“Hydraulic cylinders are ideally suited to shiplift operations because their movement is consistently precise,” says Taylor. “Bardex has further improved the synchronisation by equipping the lift stations and control system with hydraulic feedback motion control. This technology is widely used in heavy industrial robotic automation applications that require high precision motion control, such as special-purpose arc welding robots.”To guarantee an uninterrupted supply of electricity, the lifting system has its own dedicated substation with transformers supplied by the French division of the German company Schneider Electric. <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92</a> invested in a further three substations for the supply of reliable shore power to the yachts and for refit work.<img src="https://photo-assets.superyachttimes.com/photo/261583/image/large-4166e0e83d90ea707fb10360c701a083.jpg" data-gid="gid://syiq/Photo/261583">Running on railsBuilt by Metallic Bridges Belgium (MBB), the actual platform had to be delivered by special transport. When a yacht enters the lifting pit and the chain jacks are activated, it comes to rest on a modular cradle that can be adjusted to suit the size of the vessel (<a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92</a> ordered four such cradles from Schwartz Hautmont in Spain). As in a graving dock, divers assess that the ‘mating’ between hull and cradle is a snug and secure fit.&nbsp;Once the platform has been locked at ground level, the next phase is to transfer the yacht sideways off the platform and then longitudinally to a hard-standing space. Four-wheel bogies or trolleys constructed by Bardex Industries in South Korea are aligned under the cradle. The bogies, which have a passive hydraulic suspension system to raise the yacht and its cradle over the top of the chain jack units, run along 6.5km of intersecting rails built by Bemo Rails in The Netherlands and can change direction by lifting themselves off the tracks and turning their wheels 90 degrees. <img src="https://photo-assets.superyachttimes.com/photo/261597/image/large-cd3dfe47b75870da76a82b08717ad440.jpg" data-gid="gid://syiq/Photo/261597">The two axes of motion meant the rails and intersections had to be installed to a tolerance of +/- 5mm to ensure smooth transfers. Maintaining stability is obviously essential throughout the operation, especially when moving the yacht off the platform.“Transferring yachts laterally off the platform required careful coordination of the civil works, structural system and lift station elevations to ensure adequate clearance for the yacht and static supports to pass over the lift stations,” says Taylor. “This type of transfer operation also imposes unbalanced loads on the structural systems. Detailed engineering analysis and the use of hydraulically actuated pin supports were required to ensure the structure remains stable under this loading condition.” <img src="https://photo-assets.superyachttimes.com/photo/261598/image/large-46859a2c27c1aaa4e641dcc7c146976b.jpg" data-gid="gid://syiq/Photo/261598">There are five hard-standing places to the side of the platform and one in front of it (a 6th is a common area that can be used for short-term projects such as pre-purchase inspections). Once in position, the cradle is lowered to the ground, the bogies removed and the yacht hooked up to the shore power, fresh water and waste management systems. Anchoring points in the concrete are used for bracing scaffolding and tenting when the yachts need to covered. <img src="https://photo-assets.superyachttimes.com/photo/261599/image/large-5e0187dde33c13a6e4b502b4da2f46b1.jpg" data-gid="gid://syiq/Photo/261599">At the time of writing, the shiplift and transfer systems were approaching completion before final testing and certification by <a data-gid="gid://syiq/Company/554" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyds Ships (Company)">Lloyds Register</a> (shiplifts come under Lloyds’ Code for Lifting Appliances in a Marine Environment, excluding the civil engineering works). Despite the many technical and logistical challenges, the shiplift was on schedule for its official inauguration in September.&nbsp;“The most difficult thing has been organising all the different companies around the world and up to 200 personnel working on site each day, especially during the Covid pandemic,” says Mathieu Bauden, the man responsible for coordinating the works as Facilities &amp; Storage Manager at <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">MB92 La Ciotat</a>. “But it’s a great source of satisfaction that when we signed this project four years ago, we decided to open the platform on 15 September 2022. And that is still the opening date.”<img src="https://photo-assets.superyachttimes.com/photo/261591/image/large-603e1e48173db47dc861262e8eaf1093.jpg" data-gid="gid://syiq/Photo/261591">SHIPLIFT TRIVIA• The Syncrolift System was invented by Raymond Pearlson, who was later awarded the Sperry Award for his invention. The first Synchrolift in 1957 had a lifting capacity of 100 tons.&nbsp;• In 1967 Hydranautics, now Bardex Corporation, designed, patented, manufactured and delivered the first shiplift using chains instead of wire rope.&nbsp;• The Three Gorges Dam on the Yangtze in Central China has a shiplift for transferring vessels up to 3,000 tonnes across a vertical distance of 113 metres. The ship chamber has a pool of water 120 metres long by 18 metres wide and 3.5 metres deep.&nbsp;• The world’s largest shiplift dedicated exclusively to yachts is the 4,800-tonne shiplift at <a data-gid="gid://syiq/Company/97" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Barcelona (Company)">MB92 Barcelona</a>. Commissioned in 2019, it was designed and supplied by Pearlson Shiplift Corporation.This article was originally published in September 2022 of Issue 1 of the How to Build It magazine. <a href="https://superyachttimes.com/api/download/how-to-build-it-issue-1" target="_blank">You can download the entire magazine for free here</a>.

At the shipyard with MB92 La Ciotat

Justin Ratcliffe went behind the scenes for the unveiling of the new shiplift at MB92 La Ciotat.

How to build a shiplift with MB92 La Ciotat

<a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> and Blue World Technologies have joined forces to drive innovation in the field of energy technology, marking a significant milestone for both companies. The strategic collaboration, which was officially announced in April 2023, underlines <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting's</a> commitment to advancing sustainable and future fuel technologies.<img src="https://photo-assets.superyachttimes.com/photo/270072/image/large-d78446a983817cb1eb4e1056f609e055.jpg" data-gid="gid://syiq/Photo/270072">Headquartered in Aalborg, Denmark, Blue World Technologies is a leading developer and manufacturer of high-temperature PEM fuel cells that run on methanol. The company's mission is to introduce energy-efficient and cost-effective methanol fuel cell technology to industries worldwide. It has been working closely with <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> as part of the Dutch superyacht builder's energy programme.<a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting's</a> decision to partner with Blue World Technologies was influenced by the company's next-generation fuel cell technology, which offers higher efficiency and the potential for more energy-efficient vessel operation thanks to the quality of recoverable heat. Additionally, Blue World Technologies' focus on methanol aligns with <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting's</a> sustainability vision, which aims to reduce its carbon footprint and explore new ways to safeguard the environment.<img src="https://photo-assets.superyachttimes.com/photo/270071/image/large-f6b24d4406d4eecaec079447b99a4dd7.jpg" data-gid="gid://syiq/Photo/270071">According to Torben Mørch Sørensen, Marine Sales Director at Blue World Technologies, the collaboration presents a tremendous opportunity for both parties to share knowledge and drive innovation in pursuing a greener maritime industry. The partnership will involve close collaboration between builders and suppliers, with the Blue World Technologies team working closely with <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting's</a> Product Design Managers and Engineers toward implementing sustainable solutions in the company's products and projects."We are thrilled to be working with the team at Blue World Technologies," said Haico van Roeden, <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting Design</a> and Proposal Engineer. "Our shared ambition and goals align very well, and we look forward to exploring the opportunities this collaboration presents in the coming months." With a focus on sustainability and innovation, <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> and Blue World Technologies are poised to impact the yachting industry's future significantly.

Damen Yachting and Blue World Technologies partnership

Damen Yachting and Blue World Technologies have joined forces to drive innovation in the field of energy technology.

Damen Yachting and Blue World Technologies join forces to advance sustainable and fuel technologies

Italy-based yacht builder <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has reported a significant improvement in Q1 2023 margins in their latest financial report. The Board of Directors at <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> reviewed and approved the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>’s consolidated financial results for the first quarter of 2023 and reported an order backlog of €1.5 billion.<img src="https://photo-assets.superyachttimes.com/photo/269914/image/large-f008f2595c26a0e0ddc9ff1c03717d36.jpg" data-gid="gid://syiq/Photo/269914">Headquartered in Forlì, Italy, the <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 order intake of €307.5 million in the first three months of 2023. The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a> also saw a 15.4 percent increase in the order backlog compared to 31 December 2022 due to strong demand on international markets.The order backlog is broken down into segments, with made-to-measure yachts responsible for approximately 37.7 percent of the order backlog and equivalent to €549.1 million as of 31 March 2023. Composite yachts reached €489.9 million, or 32.7 percent of the total backlog, superyachts made up 25.7 percent or €384.6 million of the backlog, and other businesses such as <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a> Sail and the (<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> Security Division) FSD made up €72.7 million, or 4.9 percent of the total backlog.<img src="https://photo-assets.superyachttimes.com/photo/262170/image/large-58ac563f0eedce204ff480d094b86af1.jpeg" data-gid="gid://syiq/Photo/262170">“The luxury yacht market continues to see strong expansion and, once again, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> shows vision and foresight, as witnessed by the important acquisition of Cantiere San Vitale, in Ravenna, the cornerstone of a future-looking growth strategy,” commented <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.The total revenue for Q1 2023 surpassed €280 million, representing an increase of 9.3 percent compared to Q1 2022. The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> attributes this figure to the strong order backlog built in 2022.<img src="https://photo-assets.superyachttimes.com/photo/260867/image/large-5e5d5c3dcbe40ce54198eb723f80f847.jpeg" data-gid="gid://syiq/Photo/260867">When this revenue is broken down into geographical locations, the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> found that approximately 48.2 percent of the total revenue for Q1 2023 came from Europe, Middle East, and Africa regions (EMEA.) The North America, Central America, and South America regions (AMAS) were responsible for 28.6 percent, while the Asia-Pacific region (APAC) accounted for 11.4 percent of the total revenue.&nbsp;The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> also revealed an increase of 26.6 percent for adjusted EBITDA for Q1 2023 compared to Q1 2022. This improvement has been attributed to a longer waiting and high order backlog which reflects pricing power, a larger presence in segments such as made-to-measure, and the economy of scale in purchasing with a more efficient fixed costs absorption.The overall net profit 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> was reported as €18.6 million in Q1 2023, representing an increase of 42 percent from Q1 2022, with a margin equivalent to 6.6 percent in Q1 2023, representing an increase of 120 basis points when compared to Q1 2022.<img src="https://photo-assets.superyachttimes.com/photo/243240/image/large-c8d44c405138c49644ebabd8896f5e94.jpg" data-gid="gid://syiq/Photo/243240">The huge interest shown by the financial community after the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>’s first Capital Markets Day and the very positive financial results reported in Q1 2023, are another demonstration of our solidity and confirm once again that our shareholders and our customers were right to place their confidence in us,” concluded Alberto Galassi.

Ferretti Group reports €1.5 billion order backlog for Q1 2023 

The Ferretti Group has reported a significant improvement in Q1 2023 margins in their latest financial report compared to Q1 2022.

Ferretti Group announces €1.5 billion order backlog for Q1 2023 financial report

The <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> Ordinary Shareholders’ Meeting has approved the Financial Statements for the year ended 31 December 2022. The meeting proposed the allocation of the more than €22 million profit, including the distribution of a dividend of €0.66 per share, gross of withholding tax. <img src="https://photo-assets.superyachttimes.com/photo/251953/image/large-55cc082ff4a9a8179c905e3cd857a19c.jpg" data-gid="gid://syiq/Photo/251953">The number of shares entitled to payment will be determined 3 May 2023, with the ex-dividend date on 2 May 2023 and payment on 4 May 2023. The dividend amount for the 2022 financial year is up by 10 percent from 2021 and corresponds to a pay-out of approximately 31 percent of the Group's net profit.<img src="https://photo-assets.superyachttimes.com/photo/268405/image/large-0fe4b56c7fa5bf4533eb5955ddd1c1c0.jpg" data-gid="gid://syiq/Photo/268405">During the Shareholders’ Meeting, chaired by <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> CEO Massimo Perotti, the Consolidated Financial Statements for the year ended 31 December 2022 were also presented. These showed Net revenues from the sale of new yachts equal to €740.7 million. This figure is up 26.4 percent compared to 2021’s figure of €585.9 million.&nbsp;The statement also showed that EBITDA (earnings before interest, taxes, depreciation, and amortization) were equal to €129.6 million, up by 37 percent compared to €94.6 million in 2021. The Group Net profit was up by 45.4 percent from 2021 and was equal to €74.2 million, while the net cash position was equal to €100.3 million, up by €61.3 million compared to €39 million as of 31 December 2021.<img src="https://photo-assets.superyachttimes.com/photo/250520/image/large-0a3fbeca280e8c3933c53ff570e0aa4f.jpg" data-gid="gid://syiq/Photo/250520">For the third year, the 2022 Consolidated Non-Financial Statement was prepared as a separate report from the financial statements and presented during the Shareholders’ meeting. This is in accordance with the requirements of Italian Legislative Decree 254/2016 and drawn up according to the GRI Universal Standards.The 2022 Consolidated Non-Financial Statement describes all the main activities performed by the <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> Group in relation to environmental, social, personnel, human rights, and anti-corruption issues through a 360-degree responsible approach that looks at product and process sustainability, human resources, supply chain, and the entire territory.<img src="https://photo-assets.superyachttimes.com/photo/7146/image/large-1ccb974245f810b85b1716f241cce43b.JPG" data-gid="gid://syiq/Photo/7146">The Ordinary Shareholders’ Meeting examined the report prepared by the Company’s Board of Directors on the policy regarding remuneration and fees paid. The “First section” of the Report on Remuneration, relating to the remuneration policy for members of administrative bodies, general managers, and managers with strategic responsibilities, was approved. The “Second section” of the report was resolved in a favorable sense.Following the resignation of Directors Marco Viti and Pietro Gussalli Beretta on 26 August 2022 and 14 March 2023, respectively, the Ordinary Shareholders’ Meeting reduced the Board of Directors to 10 members, compared to 12 as determined by the Ordinary Shareholders’ Meeting of 28 April 2022. <img src="https://photo-assets.superyachttimes.com/photo/111105/image/large-e1d1a7477975847b6730979de19d203b.png" data-gid="gid://syiq/Photo/111105">The members of the Board of Directors, which will remain in office up to 31 December 2024, are, therefore, the following: Massimo Perotti, Paolo Olivieri, Ferruccio Rossi, Carla Demaria, Cecilia Maria Perotti, Licia Mattioli, Silvia Merlo, Leonardo Luca Etro, Francesca Culasso and Marco Francesco Mazzù.

Sanlorenzo Ordinary Shareholders’ Meeting approves 2022 financial statements

The Sanlorenzo Ordinary Shareholders’ Meeting has approved the Financial Statements for the year ended 31 December 2022.

Sanlorenzo reports €740m net revenue from sale of new yachts for 2022

In recent years, the consensus within the superyacht industry has been that ‘biggest is best’, yachts are getting larger every year and superyacht news is dominated by the biggest names on the water. The tiny (by comparison) stars of the yacht construction industry, however, are the yacht’s model counterparts that take pride of place among their paramours and whose builders can hold their own against any of the yachting giants. Take a short walk along the dock at the <a data-gid="gid://syiq/Event/122" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2022">Monaco Yacht Show</a>, step into the studio of any designer or yacht club, and it is not only the on-water vessels that steal the limelight, it is also the models that represent them. <img src="https://photo-assets.superyachttimes.com/photo/267544/image/large-04b01483d98697bc4faddb35c1eb3895.jpeg" data-gid="gid://syiq/Photo/267544">Historically, yacht hull models were used to help owners select their next vessel, and then they were used to commemorate the yacht on the water, displayed in pride of place within the homes of the owner or the club they raced with. While these uses still abound, today shipyards and designers use superyacht models to display their work, unveil new superyacht designs and to record previous models in perpetuity. We spoke with a few of the companies that pioneer within the yacht model industry, and experts shared their thoughts on the value and importance that the models represent.One company whose models become talking points of their own and which never fail to attract the crowds at any yacht show are <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s. The shipyard is known worldwide for its work on future yacht concepts, designed in collaboration with <a data-gid="gid://syiq/Company/5009" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lateral Naval Architects (Company)">Lateral Naval Architects</a> and the craftsmen behind these extraordinary models are <a data-gid="gid://syiq/Company/7126" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Scale Models Weston (Company)">Scale Models Weston</a>. Based in Colchester, England, the model makers have been collaborating with the shipyard that is at the forefront of cutting-edge yacht design for years. Jason Shearman, Director of the company explained “The details and technology that we incorporate into the <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a> models always make for an interesting project and the models produced are a stunning replica of their design flair and showcase our skilled craftsmanship to its full extent.” <img src="https://photo-assets.superyachttimes.com/photo/267556/image/large-25ce98ba119ff6169fdeac1b30f6c52f.jpg" data-gid="gid://syiq/Photo/267556"><a data-gid="gid://syiq/Company/7126" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Scale Models Weston (Company)">Weston</a> are a boutique organisation, with a permanent four man team, the craftsmen's ranks are bolstered during busy show seasons with freelance model craftsmen. One of the larger fish in the model-making industry is the Italian company <a data-gid="gid://syiq/Company/4884" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Model Maker Group (Company)">ModelMakerGroup</a>, and with over 30 craftsmen, the company builds nearly 400 models a year for top industry names across the globe. The sentiment shared by all of the experts that we spoke to is that yacht models have a vital role to play within the wider industry, bringing drawings to life and giving designers, owners and shipyards the opportunity to touch, feel and investigate a design before metal is cut. Giuseppe Capobianco of <a data-gid="gid://syiq/Company/4884" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Model Maker Group (Company)">ModelMakerGroup</a> explains, “Most of the yacht’s we model are yet to be presented to the market, meaning that confidentiality is a must. It also means that our workshops are filled with the vessels of the future, and a tour of our studios would give you a real sense of how the industry develops every year.” <img src="https://photo-assets.superyachttimes.com/photo/267545/image/large-12594031a04e3e845fa0752cd34d87d0.jpg" data-gid="gid://syiq/Photo/267545">While an onlooker may see yacht models as a toy, like a model car, yacht model construction is a painstaking process that takes months to complete and, as Jason touched on, can feature complex technology. Many of the models we see at yacht shows today are malleable, with parts that can be moved, removed, added to, some even including hydraulic features.Jason Shearman of <a data-gid="gid://syiq/Company/7126" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Scale Models Weston (Company)">Weston</a> added, “Our models provide a focal point for a marketing stand at an exhibition, board room, or as pride of place on the actual vessel. I believe a model superyacht helps to ignite the imagination of the viewer and creates a visual representation of the lifestyle a real yacht could offer. The features included on some recent superyachts that we have produced have really helped to bring the space to life, from a spa with scent diffuser triggered when the door is opened, to a tiny HDTV installed in the seating area for movie nights under the stars, there is a huge scope in utilising technology to showcase what life aboard could really be like.”<img src="https://photo-assets.superyachttimes.com/photo/267546/image/large-3b111e9247cecc105e79f435223c370f.jpg" data-gid="gid://syiq/Photo/267546">Brian Klassen, who builds yacht models at his studio in Canada for the yachting and commercial ship building industries believes that models have a vital role to play in the wider industry, despite the improvement in rendering technology. “Models are extremely valuable because not everyone can understand drawings or visualize a new concept. Renderings and videos provide good presentations, but a scale model can be viewed from all angles by a single viewer or multiple viewers gathered around a real, tangible representation, not a screen.”<img src="https://photo-assets.superyachttimes.com/photo/267559/image/large-324a04fe016e2e09313dc7dc9ad5cba4.jpg" data-gid="gid://syiq/Photo/267559">It's not only within the models themselves that technology comes into play. Like the shipyards themselves, automation and advancing tech is shaping the way models are produced. Guiseppe Capobianco explains, “In almost 20 years of model making we have tested different techniques, invested in technology and researched new production practices. We introduced 3D printing 18 years ago and recently we introduced a new innovative 3D printer to reproduce more realistic details. This machine completely changes the way of designing intricate details within the models and enables us to go deeper into the superyacht design.”<img src="https://photo-assets.superyachttimes.com/photo/267558/image/large-9d1fbce5de10595a6b9481420b9f9723.jpg" data-gid="gid://syiq/Photo/267558">The technology within the sector is increasing every year, and AR is becoming more commonplace both on superyachts, and their models. With the demographic of superyacht owners shifting to the next generation, the tech industry is melding with yachting and owner’s expectations for interactivity are changing. “The idea that we can seamlessly connect the real world with the virtual is intriguing and an area that I believe will enhance the model making industry,” explained Jason, “with the overall look and feel of the yacht to be found on the model and the finer details such as the cabins and décor to be overlayed in the virtual world, offering a fully immersive experience.”This article was originally published in&nbsp;<a href="https://www.superyachttimes.com/newspaper/newspaper-issue-44" target="_blank">Issue 44 of SuperYacht Times newspaper</a>.&nbsp;To read more stories like this one and to never again miss another issue of the SuperYacht Times newspaper,&nbsp;<a href="https://shop.superyachttimes.com/report/the-superyacht-times-subscription" target="_blank">subscribe here</a>.

Scale superyacht models and their makers

Scale models may be small, but they have a hugely important role in the yachting industry. We found out more.

home-htbi#1

Small yachts, big impact: A closer look at the scale model industry

Guernsey-based <a data-gid="gid://syiq/Company/7132" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bachmann Group (Company)">BachmannHR Group</a> has announced the appointment of Ben Mahy as Business Development Manager, as well as Director of <a data-gid="gid://syiq/Company/7132" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bachmann Group (Company)">Bachmann</a> Technical Services.<img src="https://photo-assets.superyachttimes.com/photo/268038/image/large-6e72e6106469db9376673ca71df4b809.jpg" data-gid="gid://syiq/Photo/268038"><a data-gid="gid://syiq/Company/7132" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bachmann Group (Company)">BachmannHR Group</a> has been operating in the marine sector since 1974 and owns a fleet of 50 superyachts. The group manages and employs a crew of around 15,000 mariners which work on a variety of yachts, cruise ships, ferries, and all other types of commercial shipping.Ben Mahy has been involved in yachting for around 20 years, working as a trained naval architect, project manager and chartered engineer. For the last five years, Ben has worked as a boatyard manager and brings a plethora of experience to his new role.&nbsp;“We are all delighted to welcome Ben to the team, a very experienced superyacht professional. He brings to the business new capabilities that will build on the existing service the Group can offer,” commented Nick Saul, CEO of the Group.Ben will be promoting the services of <a data-gid="gid://syiq/Company/7132" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bachmann Group (Company)">Bachmann</a> in corporate ownership of yachts and aircraft, crew employment and payroll, port services and developing a new direction in assisting yachts with support in Technical Service such as refits, shipyard liaison and planning. He will also lead the team in the supply of ISM and mini ISM systems.

BachmannHR Group appoints Business Development Manager 

BachmannHR Group has announced the appointment of Ben Mahy as
Business Development Manager and  Director of Bachmann Technical Services.


BachmannHR Group appoints Business Development Manager and Director of Technical Services

<a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> has been acquired by the global communications company Viasat. The combined company enhances the scale and scope to continue to drive growth in the increasingly dynamic and competitive satellite communications industry. The employees of <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> will retain their roles under the new ownership, and Rajeex Suri and Andy Sukawaty, CEO and Chairman, will join the Viasat Board of Directors.<img src="https://photo-assets.superyachttimes.com/photo/251466/image/large-5d9ca2aceec40452a7ab1bf77d737e3a.jpg" data-gid="gid://syiq/Photo/251466">The company’s assets, once fully integrated, are expected to increase the pace and scope of innovation in the global satellite connectivity sector, offering new and improved capabilities to customers that will address the ever-increasing speed, flexibility, reliability, coverage and security they demand.“We are thrilled to welcome <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a>’s employees, customers, shareholders and partners into the Viasat ecosystem,” said Mark Dankberg, Chairman and CEO, Viasat. “The combination of our companies brings together the people, technology, innovation, network assets, spectrum resources and global partnerships needed to help connect the world more affordably, securely and reliably. Together, we believe we are positioned to offer customers a multi-layered network that gives them the right connectivity at the right time, place and price.<img src="https://photo-assets.superyachttimes.com/photo/251465/image/large-65250364f6dfbf29802d99a42e82cf83.jpg" data-gid="gid://syiq/Photo/251465">“Thanks to all those who worked so tirelessly and thoroughly to complete this transaction,” said Dankberg. “I’d also like to thank the Viasat team and the leadership team at Inmarsat, especially the contributions of Rajeev Suri, Inmarsat CEO, and Andy Sukawaty, <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> Chairman. Rajeev and Andy will be joining the Viasat Board of Directors as representatives of the prior <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> private equity ownership consortium. I look forward to their continued contributions to the company.”The combined company will continue to be led by Mark Dankberg as Chairman and CEO and Guru Gowrappan as President. Viasat also reconfirmed that its new global international business headquarters will be in London. Corporate headquarters will continue to be in Carlsbad, California. Further decisions regarding organizational structure and leadership will be determined as part of the ongoing integration process.“Our goal is to be the undisputed leader in satellite communications with a sharp focus on providing the best products and services for our customers,” said Gowrappan. “We are more than the sum of our parts. This combination broadens the global fixed and mobile services available to customers in an industry-defining moment. We intend to move quickly to bring the best from each company together in a way that creates much deeper value for our stakeholders and ensures we deliver on our synergy commitments.”<img src="https://photo-assets.superyachttimes.com/photo/195034/image/large-e11ca4b857f5c9a2b385bfc4f99ce95d.jpg" data-gid="gid://syiq/Photo/195034">“Satellite communications is a hugely significant and strategic global market for the U.K. space sector, now poised for an exciting next phase,” said George Freeman MP, the U.K.’s Minister of State at the Department of Science, Innovation &amp; Technology. “The combination of Viasat and Inmarsat creates a global leader in satellite communications here in the U.K. It brings significant investment, hundreds of new highly skilled jobs and will serve as a catalyst for substantial economic growth. Having met both companies, I look forward to working with them as we use the U.K.’s regulatory freedom and leadership to support advanced technologies to boost the space economy’s productivity, profitability and sustainability.”Under the terms of the purchase agreement, at the closing of the transaction, Inmarsat’s shareholders received an aggregate of $551 million in cash, subject to adjustments, and approximately $46.36 million shares of common stock. The cash portion of the purchase price was reduced from $850 million to $551 million after Inmarsat paid a $299 million special dividend to its shareholders in April 2022. The shares issued to the <a data-gid="gid://syiq/Company/4064" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inmarsat plc (Company)">Inmarsat</a> shareholders at the closing represent an aggregate of approximately 37.6 percent of the total shares of Viasat common stock on a fully diluted basis, with no Inmarsat shareholder receiving shares representing 10% or more. In connection with closing of the acquisition on May 30, 2023, Viasat drew down on approximately $1.35 billion of its committed financing package, including a $617 million secured term loan facility and a $733 million unsecured bridge loan. The lower financed amount reflects in part the reduction in the cash component of the purchase price.

Inmarsat acquired by Viasat

Inmarsat has been acquired by global communications company Viasat.

Inmarsat acquired by global communications company Viasat

<a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, a key player in yachting innovation and a part of the renowned <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Group</a>, presents its latest model, the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a>, at the esteemed Salone Nautico Venezia. The magnificent backdrop of the Arsenale sets the stage for the awaited unveiling of this new <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a> model, which continues to redefine the boundaries of yacht design. <img src="https://photo-assets.superyachttimes.com/photo/272305/image/large-b13ba5d8b03fdf95ea029f0076b49ad1.jpg" data-gid="gid://syiq/Photo/272305">Crafted by the <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 Group</a> engineering team, with interior design by <a data-gid="gid://syiq/Company/289" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Studio Vallicelli Design (Company)">Studio Vallicelli Design</a>, the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> embodies unrivalled exterior spaces on the 24.06-metre yacht, revolutionising the concept of a raised pilothouse design.<img src="https://photo-assets.superyachttimes.com/photo/240969/image/large-6f2c8eaeed26d90f395d478ea8d3fc4d.jpg" data-gid="gid://syiq/Photo/240969">Stefano de Vivo, <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally's</a> Managing Director, elaborates on the vision behind the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a>: "Our objective was to anticipate market demands by developing a yacht that stays ahead of its time, drawing inspiration from the innovative features that made the <a data-gid="gid://syiq/YachtModel/10773" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY20027.03m (88'8&quot;)">wallywhy200</a> a resounding success. With its impressive 24-metre length and 150 GT, the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> is a versatile vessel, ideally suited for experienced owners who truly appreciate the masterful utilisation of space, expansive living areas, and its unmistakable personality. For nearly three decades, <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a> has been at the forefront of designing and constructing cutting-edge yachts, spearheading epochal changes in yacht design. We are confident that the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> will establish itself in diverse international markets."<img src="https://photo-assets.superyachttimes.com/photo/240970/image/large-d53641cb85dba30603e3c40f5f2013fc.jpg" data-gid="gid://syiq/Photo/240970"><img src="https://photo-assets.superyachttimes.com/photo/233568/image/large-d3f32291eb15820ba93695365be64ecd.jpg" data-gid="gid://syiq/Photo/233568">The <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> sets new benchmarks for its size with its unparalleled exterior areas. The upper deck offers expansive open space, providing an immense amount of protected area. Onboard, owners and guests can relish a complete dining setting on the sundeck, a sunbathing area, a shaded lounge, and much more – almost the entire length of the vessel is dedicated to outdoor leisure and relaxation. A noteworthy feature of the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> is the floor-to-ceiling glass that dominates its design, enhancing the yacht's allure.<img src="https://photo-assets.superyachttimes.com/photo/240971/image/large-836df6d7e40c3dea2f8922c27dcce133.jpg" data-gid="gid://syiq/Photo/240971">Accommodation on the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> includes a forward master suite on the main deck, reminiscent of the <a data-gid="gid://syiq/YachtModel/10773" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY20027.03m (88'8&quot;)">wallywhy200</a>, offering unobstructed 270-degree panoramic views and a striking grand "amphitheatre of the sea" design, courtesy of its unusually high bow. Additional accommodations are located on the lower deck, which can be configured as a VIP, a double, and a twin guest suite or as a two VIP cabin layout. All staterooms benefit from the ample natural light streaming through the vast windows, creating an airy and contemporary ambience onboard.<img src="https://photo-assets.superyachttimes.com/photo/233570/image/large-8fd9cede24495563e986f9969ea912c6.jpg" data-gid="gid://syiq/Photo/233570">Luca Bassani, <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally's</a> Founder and Chief Designer, highlights the primary reason for the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150's</a> uniqueness: "It is the simplicity and accessibility of the layout that makes it immensely appealing to a wide range of clients – it provides the ultimate flexible platform for those seeking to expand the boundaries of traditional planing-craft usage. This vessel is the first to offer direct access to the sea at cockpit level without the need for stairs; it is effectively a floating loft on the water."<img src="https://photo-assets.superyachttimes.com/photo/233571/image/large-f4a10353012d87bcea2a112e2b8faa33.jpg" data-gid="gid://syiq/Photo/233571">The aft deck of the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> presents a spacious and unobstructed platform featuring a hydraulic multipurpose ladder and a rising platform. Owners can customise this area according to their preferences, accommodating various water toys and a large 3.90-metre tender.Equipped with optional three IPS1350 engines, the <a data-gid="gid://syiq/YachtModel/12820" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally WHY15024.06m (78'11&quot;)">wallywhy150</a> can achieve an impressive maximum speed of 23 knots, while the standard propulsion of three IPS1200 engines ensures a cruising speed of 17 knots.&nbsp;

Wally debuts wallywhy150 at the Venice Boat Show 2023

Wally unveils the innovative wallywhy150 described as the “floating loft on the water,” at the Venice Boat Show 2023. 



Wally debuts the wallywhy150 “floating loft on the water” at the Venice Boat Show 2023

The UAE-based property developer <a data-gid="gid://syiq/Company/7043" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nakheel Marinas (Company)">Nakheel</a> has announced a new marina, <a data-gid="gid://syiq/Company/7173" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nakheel Dubai Islands Marinas (Company)">Nakheel Marinas Dubai Islands</a>. The new marina can accommodate up to 13 superyachts, with 248 wet berths for yachts up to 47-metres and dry berths for trailers up to 20-metres. <img src="https://photo-assets.superyachttimes.com/photo/251709/image/large-9e8da947f36c6ae5ba54c5398f12c52a.jpg" data-gid="gid://syiq/Photo/251709">Situated along Dubai’s northern coastline at Dubai Islands, the new marina offers 24 hour dock assistance, club car transfer, waste collection and free wifi, among other amenities. The Dubai Islands Beach is within walking distance from the marina.<a data-gid="gid://syiq/Company/7043" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nakheel Marinas (Company)">Nakheel</a> also owns the two Palm Jumeirah Marinas on the east and west sides of the Palm Jumeirah and the two marinas can accommodate yachts up to 40-metres. &nbsp;Over recent years, Dubai has seen a major investment in the yachting facilities, with the construction and development of the <a data-gid="gid://syiq/Company/6804" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai Harbour Marina (Company)">Dubai Harbour Marina</a> and the <a data-gid="gid://syiq/Company/5856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mina Rashid Marina (Company)">Mina Rashid Marina</a>. With this investment, many European and American companies have opened office in Dubai, including <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons International (Company)">Camper &amp; Nicholsons International</a> and <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a>, securing the region's position as a major player in the international yachting industry.In 2022, SuperYacht Times acquired the Gulf Superyacht Summit, and in November hosted the first edition of the event. To find out more about the summit, to inquire about partnerships and tickets, you can find all the information of the website here: <a href="https://www.gulfsuperyachtsummit.com/" rel="noopener noreferrer" target="_blank" title="">gulfsuperyachtsummit.com</a>

Nakheel Marinas Dubai Islands opened

Dubai property developer Nakheel has opened a new marina in Dubai Islands.

Nakheel unveils new superyacht marina in Dubai Islands

The French electrical and electromechanical services company <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">Yachtelec</a> has been acquired by the ship repair and maintenance group AMARIX, the owner of MACOR and ETI Services companies. Amarix has acquired a 100 percent stake in the company which is based at <a data-gid="gid://syiq/Company/5375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="La Ciotat Shipyards (Company)">La Ciotat Shipyards</a> in the South of France. <a data-gid="gid://syiq/Company/7171" href="https://sya.superyachttimes.com/news#managed-by-system" target="_blank">Yachtelec</a> was founded in 2007 and has worked on more than 700 major yacht projects, with major industry names including <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a>, <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> and <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>.<img src="https://photo-assets.superyachttimes.com/photo/272302/image/large-ea0546e0c00d33ed24f4d6320c131573.jpg" data-gid="gid://syiq/Photo/272302">The acquisition, for an undisclosed sum, is part of a wider strategy to increase the group’s market presence and to leverage the turnkey project capability of the company’s MACOR brand in the international superyacht sectors. MACOR specialises in the repair of mechanical and hydraulic systems and machinery, fabrication, and pipework. Since its formation in 1986, the company’s four business units has worked on more 3,000 vessels and represents some of the maritime industry’s market leading OEMs (original equipment manufacturers), operators and managers.<a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)"><img src="https://photo-assets.superyachttimes.com/photo/272303/image/large-e4cbb96766566bd6db8ae9ff0b316b1a.jpeg" data-gid="gid://syiq/Photo/272303"></a>“The acquisition of <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">YACHTELEC</a> makes complete sense and strengthens the group’s portfolio,” said AMARIX founder Nicolas Martinetti. “With <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">YACHTELEC</a> joining the group’s MACOR and ETI Services brands we close the circle to provide a complete turnkey services solution, covering all mechanical, hydraulic, electrical, electromechanical, and electronic systems onboard. We look forward to welcoming our new colleagues to the AMARIX family, now counting 75 employees, and working with them to ensure a seamless transition for our new clients and customers,” he said.Commenting on the developments taking place in the luxury yacht market, Xavier Deval, Amarix Group's Business Director, said: “It is forecast that that the luxury yacht will grow by 8% in the next five years, with the trend being for larger vessels. We are already seeing some yacht refit yards invest in facilities to meet the demand for larger, longer tonnage. But owners are also looking for models with a higher degree of customisation and features, such as state-of-the-art lighting and audio systems. We can now meet this demand. The inclusion of <a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">YACHTELEC</a> to our portfolio significantly strengthens our network, almost doubling the number of technical experts and specialists we have in the field.”&nbsp;<a data-gid="gid://syiq/Company/7171" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtelec (Company)">Yachtelec</a> Director Remi Colace said: "The acquisition and integration in to AMARIX Group is a great step forward for YACHTELEC, ensuring brands continued development and growth trajectory. This makes us stronger and able to offer more technical packages and expertise to our superyacht customers and more."&nbsp;

Amarix Group acquires Yachtelec

The ship repair and maintenance group Amarix has acquired French electrical and electromechanical services company YACHTELEC. 

Repair and maintenance group Amarix acquires electromechanical services company Yachtelec

<a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> has announced the launch of the 34.99-metre <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> 35 Exuma yacht. The Maiora 35 Exuma yacht is characterised by her impressive performance and expansive interior spaces.<img src="https://photo-assets.superyachttimes.com/photo/271066/image/large-c7249531e1b5d86d843b54275e5e6845.jpeg" data-gid="gid://syiq/Photo/271066">The <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> 35 Exuma yacht showcases a straight bow and fully open stern and is constructed from a composite material. She boasts sleek and stylish lines with a sporty exterior profile and a bespoke interior design.The <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> 35 Exuma yacht has been customised to meet the needs of her owner, with her pilot house positioned forward on the main deck. A second pilothouse can be found on the upper deck, allowing the owner to control her, while surrounded by friends and family.<img src="https://photo-assets.superyachttimes.com/photo/272292/image/large-2d84df21bffb9ac88fb075dc34d04b3c.png" data-gid="gid://syiq/Photo/272292">The <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> 35 Exuma can accommodate up to 11 guests in 5 staterooms consisting of a full-beam master stateroom, located forward on the main deck and four VIP suites on the lower deck. She also has accommodation for a crew of six.Glass has been used extensively on the <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> 35 Exuma yacht with floor-to-ceiling windows in her main saloon and guest accommodations. Her upper deck features a 47 square-metre saloon, which can be easily converted into over 130 square-metres by opening a door, sliding the “moon-roof” open, and lowering the side glazed surfaces.<img src="https://photo-assets.superyachttimes.com/photo/272291/image/large-d274b6d0a86d4cca227b2122c1a071d4.png" data-gid="gid://syiq/Photo/272291">The <a data-gid="gid://syiq/Company/536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maiora (Company)">Maiora</a> 35 Exuma yacht is able to store a 6.5-metre tender in the side garage, while a second garage located aft can fit a 3.5-metre service tender and countless toys. She is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> 2,000 horsepower engines, which provide her with a top speed of almost 35 knots.

Maiora 35 Exuma yacht launch

Next Yacht Group has announced the launch of the 35m Maiora 35 Exuma yacht.

Next Yacht Group launches Maiora 35 Exuma yacht

<a data-gid="gid://syiq/Company/2973" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Moments (Company)">Yacht Moments</a> and <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini Design &amp; Architecture</a> have unveiled the renderings for a new 49.9-metre superyacht concept. The steel and aluminium motor yacht is a joint development and has been designed for those who want to experience sea life to the fullest.<img src="https://photo-assets.superyachttimes.com/photo/272259/image/large-37e3b6c9fde660e58dc1de5ee8848de5.jpg" data-gid="gid://syiq/Photo/272259">The 49.9-metre superyacht concept is characterised by a sleek and sporty design with curved, soft and sinuous lines. She features interior and exterior design by <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini Design &amp; Architectur</a>e and takes inspiration from modern and futuristic silhouettes.<img src="https://photo-assets.superyachttimes.com/photo/272247/image/large-73cf166ab860fb1b3e4281aa0047c0fb.jpg" data-gid="gid://syiq/Photo/272247">The yacht features large open spaces and large windows to allow guests to enjoy the full view of the panorama. Attention to detail can be seen in her gunwales which have been hollowed out and reduced to a minimum, so that the view from inside encounters as few obstacles as possible.<img src="https://photo-assets.superyachttimes.com/photo/272246/image/large-51589d376907446d0ebfddd4fa49f052.jpg" data-gid="gid://syiq/Photo/272246">Her modern and futuristic interior features organic shapes with cutting-edge technologies. She uses high-quality materials such as Macassar ebony wood and high-gloss metals to create a play of light and a luxurious atmosphere.<img src="https://photo-assets.superyachttimes.com/photo/272248/image/large-681ee2dc92818d3d3653e620767c2c8b.jpg" data-gid="gid://syiq/Photo/272248"><img src="https://photo-assets.superyachttimes.com/photo/272255/image/large-92a7e4637e0e904fe3027bc4bbb0a823.jpg" data-gid="gid://syiq/Photo/272255"><img src="https://photo-assets.superyachttimes.com/photo/272252/image/large-5eb1df57f1933af3cb9b6740be997953.jpg" data-gid="gid://syiq/Photo/272252">The superyacht can comfortably sleep up to 12 guests across six staterooms, as well as a crew of nine across five cabins.<img src="https://photo-assets.superyachttimes.com/photo/272260/image/large-13f7ccecfe7141f0ceee13d48fa97407.jpg" data-gid="gid://syiq/Photo/272260">Key features onboard the superyacht include her main deck aft cockpit, which was raised to maximise the height of the beach club below. The open terrace provides 180-degree views, with a large Jacuzzi and adjoining sunbathing area. <img src="https://photo-assets.superyachttimes.com/photo/272244/image/large-a17c8b53f19743b482575d3641e4f629.jpg" data-gid="gid://syiq/Photo/272244">From here there is easy access to the upper deck aft, which includes an alfresco dining and lounge area. A multipurpose platform is located beyond the wheelhouse and can be used as a sunbathing area with freestanding furnishings, party deck, and a touch-and-go helipad.<img src="https://photo-assets.superyachttimes.com/photo/272245/image/large-3ffd16b8e2f25610ec39200f4558894f.jpg" data-gid="gid://syiq/Photo/272245">Her sundeck is home to a freshwater pool with Jacuzzi functions and a glass bottom. A second pool on the aft deck will also be equipped with glass bottom and Jacuzzi functions and will have a jet-nozzle to create a current for swimming.<img src="https://photo-assets.superyachttimes.com/photo/272243/image/large-56e0e858b44376c67e3b830eb0500040.jpg" data-gid="gid://syiq/Photo/272243">The superyacht features an extensive beach club with a moveable lifting system swimming platform. The area can be opened from three sides, allowing for a constant flow of air and light to create a multifunctional area.<img src="https://photo-assets.superyachttimes.com/photo/272257/image/large-d82e1d5562cde902c6801993e3881ead.jpg" data-gid="gid://syiq/Photo/272257">Her bow features a covered mooring area with adjoining garage for a tender and Jet Ski, and part of the deck can be lifted, thanks to a hydraulic system to allow the crew access to this area without any interruptions to her guests.<img src="https://photo-assets.superyachttimes.com/photo/272242/image/large-3e97b1b406f4cb36476add10bd602151.jpg" data-gid="gid://syiq/Photo/272242">In terms of propulsion, the 50m superyacht can be 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> or <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines which will provide her with a cruising speed of 14 knots and a top speed of 16 knots.

Luca Dini 50m superyacht concept

Yacht Moments and Luca Dini Design & Architecture have unveiled the renderings for a new 50m superyacht concept. 

New 50m superyacht concept with futuristic interiors and floating aft deck

<a data-gid="gid://syiq/Company/5775" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo SY Refit (Company)">Palumbo SuperYachts Refit (PSY)</a> has announced that they will expand the company's commitment to sustainability in yachting by developing more sustainable measures. Members discussed the future of yachting and ways to make it more environmentally sustainable during a Julius Baer Sustainability Circle event on 4 May at <a data-gid="gid://syiq/Company/4337" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club de Monaco (Company)">Yacht Club de Monaco</a>.<img src="https://photo-assets.superyachttimes.com/photo/272210/image/large-1965c1dd5270b57f30a8f954065904aa.jpg" data-gid="gid://syiq/Photo/272210">The event discussed actions such as the installation of solar panels on key infrastructures, as well as renewable energy sourcing, ways to reduce emissions and research activities.“At <a data-gid="gid://syiq/Company/5775" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo SY Refit (Company)">Palumbo SuperYachts Refit</a>, we believe we are in a good position, as we have always put the process at the centre of our philosophy, which has also meant for some time that we invest in the green transition of infrastructures and procedures in all the yards of the network,” explained Luciano Bregola, Marseille Yard General manager and engineer.<img src="https://photo-assets.superyachttimes.com/photo/272211/image/large-5c29f2a6d374ad289d90efa6e65d1444.jpg" data-gid="gid://syiq/Photo/272211">The event revolved around the future of yachting with the objective to address the challenges of the yachting industry, in regard to its environmental footprint and how this can be reduced. “<a data-gid="gid://syiq/Company/1757" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo Superyachts (Company)">PSY</a> believes that sustainability starts from people's mindset and develops in the procedures in which yachts are built, managed, converted, and repaired. We acknowledge the importance of individual actions, since together we have the power to deliver a green boost to the market,” explained Luciano Bregola.<img src="https://photo-assets.superyachttimes.com/photo/226398/image/large-eebaf16cba4bbfdac598e8698268ec06.jpg" data-gid="gid://syiq/Photo/226398"><a data-gid="gid://syiq/Company/1757" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo Superyachts (Company)">Palumbo SuperYachts</a> already has several ongoing projects and developments to support more sustainable yachting. These include the improvement and expansion of green refitting procedures for yachts, such as eco-friendly paint and advanced water treatment plants. <img src="https://photo-assets.superyachttimes.com/photo/226399/image/large-2e0a55e82cf6a21294548894f5e0b891.jpg" data-gid="gid://syiq/Photo/226399">The company also uses more sustainable technology and renewable energy across boats, shipyards and related facilities, with LED lighting and solar panels. Palumbo SuperYachts has also committed to installing photovoltaic infrastructure across its facilities in the Mediterranean by 2025.<img src="https://photo-assets.superyachttimes.com/photo/226396/image/large-330aaaedb6ee254141840d21fbe54500.jpg" data-gid="gid://syiq/Photo/226396">As well as this, <a data-gid="gid://syiq/Company/1757" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo Superyachts (Company)">Palumbo SuperYachts</a> is currently working with <a data-gid="gid://syiq/Company/1457" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RINA (Company)">RINA</a> on research and development into lithium batteries, green hydrogen, and green methanol. “<a data-gid="gid://syiq/Company/5775" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo SY Refit (Company)">PSY</a>, together with <a data-gid="gid://syiq/Company/1457" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RINA (Company)">RINA</a>, is studying the potential of new fuels that offer the possibility of reducing carbon dioxide emissions through the gradual replacement of fossil fuels by renewable energy,” added Luciano Bregola. <img src="https://photo-assets.superyachttimes.com/photo/54847/image/large-a5c62f6145b78682aefa08e81aecee8a.jpg" data-gid="gid://syiq/Photo/54847">By expanding its commitment to sustainability, <a data-gid="gid://syiq/Company/5775" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo SY Refit (Company)">Palumbo SuperYacht Refit</a> aims to take on a leadership role in the building, refitting, converting and maintaining of superyachts. “<a data-gid="gid://syiq/Company/5775" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo SY Refit (Company)">PSY</a> acknowledges that the yachting industry still faces different challenges in this area that it is important to tackle, and this is why the company will keep investing in facilities and in research and development activities, with the aim of making the future of the yachting industry greener,” concluded <a data-gid="gid://syiq/Company/1757" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo Superyachts (Company)">Palumbo SuperYachts</a>.

Palumbo SY Refit expands commitment to sustainability in yachting

Palumbo SuperYachts has announced that they will expand the company's commitment to sustainability in yachting with more sustainable measures.

Turkey-based shipyard <a data-gid="gid://syiq/Company/4644" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AKYACHT (Company)">AKYACHT</a> has announced that they have signed a contract for a new 100 plus-metre superyacht. The steel and aluminium motor yacht will be the largest yacht built at the <a data-gid="gid://syiq/Company/1452" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyd's Register (Company)">Lloyd's</a>-certified shipyard and has an expected delivery date of 2027.<img src="https://photo-assets.superyachttimes.com/photo/272216/image/large-30ecf66582fba3fac855139b828ac216.jpg" data-gid="gid://syiq/Photo/272216">According to the shipyard, the 100 plus-metre superyacht “combines uncompromised luxury, technology, engineering, and propulsion for a very-experienced client.” <a data-gid="gid://syiq/Company/4644" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AKYACHT (Company)">AKYACHT</a> are no strangers to large builds, with their first breakthrough project <a data-gid="gid://syiq/Yacht/1591" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Victorious85.01m (278'11&quot;)AKYACHT2021">Victorious</a> measuring 85.01-metres.<a data-gid="gid://syiq/Yacht/1591" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Victorious85.01m (278'11&quot;)AKYACHT2021">Victorious</a> was delivered in 2021 and was one of the most show stopping yachts on display at the <a data-gid="gid://syiq/Event/97" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2021">Monaco Yacht Show</a> that year. She boasts exterior design by <a data-gid="gid://syiq/Company/25" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Michael Leach Design Ltd. (Company)">Michael Leach Design Ltd</a>, with naval architecture by her builder.&nbsp;Read: <a data-gid="gid://syiq/Article/54057" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Onboard AKYacht's magnificent 85m superyacht Victorious (2021-11-11 10:00:00 +0100)">Onboard AKYacht's magnificent 85m superyacht Victorious</a>With 2,291 GT of interior space, <a data-gid="gid://syiq/Yacht/1591" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Victorious85.01m (278'11&quot;)AKYACHT2021">Victorious</a> features interior design by <a data-gid="gid://syiq/Company/161" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="H2 Yacht Design (Company)">H2 Yacht Design</a> which have emulated the modernity and grace of a five star hotel. She is able to accommodate up to 24 guests across 12 staterooms, as well as a crew of 28.

AKYACHT 100-metre yacht

AKYACHT has announced that they have signed a contract for a new +100-metre superyacht. 

AKYACHT signs contract for new 100 plus-metre superyacht with 2027 delivery date

Dutch sailing yachts on the market

Discover the SuperYacht Times covets for Dutch sailing yachts currently for sale. 

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Exceptional Dutch sailing yachts for sale

The 25.61-metre <a data-gid="gid://syiq/Company/1302" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kuipers Woudsend (Company)">Kuiper Woudsend</a> motor yacht <a data-gid="gid://syiq/Yacht/4037" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Pearl25.61m (84'0&quot;)Kuipers Woudsend2000">Blue Pearl</a> sold in an in-house deal at <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>, with Marco Fodale introducing the buyer and seller alongside James Nason.<img src="https://photo-assets.superyachttimes.com/photo/228559/image/large-17dbce0e768220309170736a32e0253c.jpg" data-gid="gid://syiq/Photo/228559"><a data-gid="gid://syiq/Yacht/4037" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Pearl25.61m (84'0&quot;)Kuipers Woudsend2000">Blue Pearl</a> was delivered in 2000 from the Netherlands and features exterior and naval architecture from <a data-gid="gid://syiq/Company/15" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vripack (Company)">Vripack</a>. The pocket explorer yacht is believed to be the last 84 <a data-gid="gid://syiq/Company/1302" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kuipers Woudsend (Company)">Kuipers</a> Doggersbank yacht built that was personally overseen by Mr Kuipers.<img src="https://photo-assets.superyachttimes.com/photo/228561/image/large-7dea575101907117539ddb7971def6dc.jpg" data-gid="gid://syiq/Photo/228561"><img src="https://photo-assets.superyachttimes.com/photo/228562/image/large-a6e746422be6ade18286a75c7d784f7e.jpg" data-gid="gid://syiq/Photo/228562"><img src="https://photo-assets.superyachttimes.com/photo/228564/image/large-eb693508c1ff296cf4cfbfa6d2d843ff.jpg" data-gid="gid://syiq/Photo/228564">With 120 GT of interior space and designs from <a data-gid="gid://syiq/Company/31" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="John Munford Design (Company)">John Munford Design</a>, <a data-gid="gid://syiq/Yacht/4037" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Pearl25.61m (84'0&quot;)Kuipers Woudsend2000">Blue Pearl</a>’s interior is finished with traditional wooden walls and cream carpets. She can accommodate as many as six guests between three staterooms, as well as a crew of three in two cabins.<img src="https://photo-assets.superyachttimes.com/photo/228565/image/large-25cb6385ed6cbde8ade535bc04eb95f1.jpg" data-gid="gid://syiq/Photo/228565"><img src="https://photo-assets.superyachttimes.com/photo/228560/image/large-e3843c94c99547b35e1d8c34ef9b9818.jpg" data-gid="gid://syiq/Photo/228560">In terms of performance, <a data-gid="gid://syiq/Yacht/4037" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Pearl25.61m (84'0&quot;)Kuipers Woudsend2000">Blue Pearl</a> has a top speed of 12 knots and a cruising speed of 10 knots, 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 and offering a 4,000 nautical mile range. At the time of her sale, <a data-gid="gid://syiq/Yacht/4037" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Pearl25.61m (84'0&quot;)Kuipers Woudsend2000">Blue Pearl</a> had a last known asking price of $2,000,000.<img src="https://photo-assets.superyachttimes.com/photo/228566/image/large-bc89ff87e4beb7f28c7fe8b733f6379e.jpg" data-gid="gid://syiq/Photo/228566">

26m Kuiper Woudsend yacht Blue Pearl sold

The 26m Kuiper Woudsend motor yacht Blue Pearl sold in an in-house deal at Fraser. She had a last known asking price of $2,000,000.