<a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a> has announced its expansion into the Middle East with the launch of <a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a> Dubai and the appointment of Ryan Fallaize as Director. The move reinforces the company’s global presence and positions it to support the region’s rapidly growing yachting industry.<img src="https://photo-assets.superyachttimes.com/photo/348186/image/large-ecbac24df190e4c7e02e91f4ba689004.jpg" data-gid="gid://syiq/Photo/348186">With a permanent presence in Dubai, <a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a> will provide expert guidance on yacht registration, crew employment and payroll services to local and international clients. Ryan Fallaize, Director of <a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a> Dubai, highlighted the significance of the expansion:“The move into the Middle East is a natural step for <a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a> as we continue to deliver a truly global service. Having spent considerable time in the UAE over the past three years, we have developed a deep understanding of the local yachting market. Our team is well-equipped to support shipyards, brokers, dealers and owners with tailored expertise and hands-on service.”<img src="https://photo-assets.superyachttimes.com/photo/327622/image/large-b319e07d043a59161d753da3b5fc4e45.jpg" data-gid="gid://syiq/Photo/327622">Dubai has established itself as a key destination for high-net-worth individuals, offering tax benefits, a luxury lifestyle and world-class infrastructure. According to the <a href="https://www.superyachttimes.com/market-reports/gulf-superyacht-report-2024-2025" rel="noopener noreferrer" target="_blank" title="">Gulf Superyacht Report 2024-2025</a>, the Gulf region is experiencing a surge in wealth, particularly among ultra-high-net-worth individuals (UHNWIs)—those with assets exceeding $30 million.&nbsp;The UHNWI population in the Middle East is expected to grow by 28.3% by 2028, reaching an estimated 24,102 individuals. This projection highlights the region’s continued economic transformation as countries invest heavily in non-oil sectors such as real estate, technology, and financial services.Download: <a href="https://www.superyachttimes.com/market-reports/gulf-superyacht-report-2024-2025" rel="noopener noreferrer" target="_blank" title="">Get the full Gulf Superyacht Report 2024-2025 for free here</a><img src="https://photo-assets.superyachttimes.com/photo/342539/image/large-ae0ad863e0cf497156f9d1f260adb4be.jpg" data-gid="gid://syiq/Photo/342539">The Dubai Maritime Authority (DMA) has played a crucial role in streamlining regulations, making it easier for foreign-flagged yachts to visit and operate in the region. Additionally, the emergence of new cruising destinations such as <a data-gid="gid://syiq/Company/7371" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NEOM (Company)">NEOM</a>’s <a data-gid="gid://syiq/Company/7283" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sindalah Marina (Company)">Sindalah Islands</a> in the Red Sea has further strengthened the Middle East’s appeal as a winter yachting alternative to the Caribbean.Duncan Swanson, Co-Founder of <a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a>, echoed this sentiment: “Dubai’s world-class maritime infrastructure and vibrant yachting community make it the ideal hub for our expansion. This move enables us to enhance our yacht registration and crew employment services across the Middle East and Far East, ensuring seamless support for yacht owners and industry professionals in these dynamic markets.”Read:&nbsp;<a data-gid="gid://syiq/Article/62576" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Can the Red Sea become a leading Winter destination for superyachts? (2025-02-07 15:45:00 +0100)">Can the Red Sea become a leading winter destination for superyachts?</a><img src="https://photo-assets.superyachttimes.com/photo/340276/image/large-59f32b4538aefb6aa2f02801c4370237.jpg" data-gid="gid://syiq/Photo/340276">The Gulf Superyacht Summit 2025As a sponsor of the <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a>, <a data-gid="gid://syiq/Company/2954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanskies Limited (Company)">Oceanskies</a>’ expansion into Dubai underscores the city’s growing prominence as a global yachting hub, further cementing the Middle East’s status as a key destination for luxury yacht ownership and charter operations.The <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a> will return in December to the region, with details surrounding the seventh edition of the two-day conference yet to be announced. However, the event promises to draw on the experiences of the previous summits.The <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a> seeks to inform, assist and advise yachting clients and related interested parties, with the goal to develop the Gulf as a superyacht winter destination. &nbsp;If you are interested in sponsoring the event, reach out to the sales team now at <a href="mailto:sales@superyachttimes.com" title="">sales@superyachttimes.com</a>.You can find out more about yachting in the Gulf region by downloading the full <a href="https://www.superyachttimes.com/market-reports/gulf-superyacht-report-2024-2025" rel="noopener noreferrer" target="_blank" title="">Gulf Superyacht Report 2024-2025 here</a>.

Oceanskies expands with new office in Dubai 

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Gulf Superyacht Summit 2024 Day 2

Dubai Marina

Ryan Fallaize, Director of Oceanskies Dubai

Oceanskies has announced its expansion into the Middle East with the launch of Oceanskies Dubai and the appointment of Ryan Fallaize as Director. 

Oceanskies expands with new office and Director in Dubai 

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

Launch of Matterhorn yacht brokerage

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

Adam Papadakis and Kurt Fraser launch Matterhorn

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

Dörries Yachts construction facilities at Volkswerft Stralsund

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

Dörries Yachts agrees lease for new shipyard in Germany

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

SYDNA launches international association for superyacht designers and naval architects

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

SYDNA launches to represent superyacht designers and naval architects

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

The Italian Sea Group aims for full operations by June 

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

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

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

TISG share capital falls below legal minimum

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

TISG enters restructuring phase after share capital falls below legal minimum

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

Ferretti Group reports lower Q1 revenue as order intake falls

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

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

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

Off The Hook Yacht Sales to rebrand as NextBoat

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

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

Safe Harbor’s Monaco Marine acquisition

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

Behind the Safe Harbor rebrand of Monaco Marine

The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has officially announced the appointment of Stassi Anastassov as its new Chief Executive Officer with immediate effect, following the company’s Annual General Meeting held on 15 May 2026.<img src="https://photo-assets.superyachttimes.com/photo/393733/image/large-72490791b6a9b045e5ad8ef1e9aa81ea.jpg" data-gid="gid://syiq/Photo/393733">The appointment was confirmed by the Board of Directors, which also reconfirmed Tan Ning as Chairman of the Board. Anastassov succeeds Alberto Galassi, whose departure from the company was announced yesterday.Read: <a data-gid="gid://syiq/Article/66087" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti CEO Alberto Galassi departs as company appoints new Board of Directors (2026-05-14 16:00:00 +0200)">Ferretti CEO Alberto Galassi departs as company appoints new Board of Directors</a><img src="https://photo-assets.superyachttimes.com/photo/220951/image/large-769ff4738384374b511d59651630542a.jpg" data-gid="gid://syiq/Photo/220951">Anastassov joins the group with extensive international leadership experience across the consumer, industrial and manufacturing sectors. He previously served as the President and Chief Executive Officer of Duracell and spent three decades in senior leadership roles at Procter &amp; Gamble across Europe, North America, Asia and the Middle East.In addition to his executive experience, Anastassov currently serves as a non-executive director of JS Global Lifestyle and Better Shelter, while also advising international companies and investment firms on governance and operational transformation.“It is an honour to be appointed Chief Executive Officer of a unique company built on extraordinary brands, exceptional craftsmanship and talented people,” commented Stassi Anastassov.&nbsp;“Italy is and will remain the heart of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>. Our commitment is first and foremost to the strength, stability and long-term success of the Company. By serving the business well, we serve all shareholders, employees, customers and partners who contribute to <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s future.”During yesterday’s shareholder’s meeting is was announced that Tan Ning was appointed as Chairman of the Board of Directors, alongside Patrick Sun, Federica Marchionni, Zhu Yi and Donatella Sciuto as independent directors, while Katarína Kohlmayer joins the board representing minority shareholder Azùr a.s.“On behalf of the Board, I thank shareholders for their continued trust and support. <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> enters this next phase with strong foundations, exceptional brands and significant long-term opportunities,” added Tan Ning.&nbsp;“The Board remains fully committed to continuity, disciplined execution and the long-term development of the Group. Under Mr. Anastassov’s leadership, the Group will continue to strengthen its operational excellence, global positioning and long-term value creation while preserving the unique heritage and identity that define <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>.”<img src="https://photo-assets.superyachttimes.com/photo/370929/image/large-3ff33c68bd9eb79649851d2a92eaeb2b.jpg" data-gid="gid://syiq/Photo/370929">Ownership tensions continueAs well as this, Reuters reported earlier today that Czech investor KKCG Maritime had submitted a request to the Italian government to assess whether <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> has breached "golden power" rules designed to shield strategic assets.In January 2026, KKCG Maritime had launched a voluntary partial tender offer to buy more shares in <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>, equivalent to around 15.4 percent of the yacht builder’s total share capital. This was not supported by the Chinese controlling shareholder of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, Weichai, with <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> confirming its rejection of the offer shortly after.&nbsp;Read:&nbsp;<a data-gid="gid://syiq/Article/65187" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="KKCG Maritime seeks to increase stake in Ferretti S.p.A to almost 30% (2026-01-19 22:15:00 +0100)">KKCG Maritime seeks to increase stake in Ferretti S.p.A to almost 30%</a><img src="https://photo-assets.superyachttimes.com/photo/386471/image/large-5864e3d980f30348ec76855095f57666.jpg" data-gid="gid://syiq/Photo/386471">According to the Italian Consolidated Financial Act and the Hong Kong Code on Takeovers and Mergers, KKCG had to stay below the 30 percent threshold that would automatically require it to make a full takeover bid under these Italian and Hong Kong regulations.Italy’s “golden power” rules give Rome the right to veto or impose conditions on corporate deals involving companies considered strategic to national security. <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> controls seven yacht brands, including <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a>, <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a>, <a data-gid="gid://syiq/Company/584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pershing S.p.a. (Company)">Pershing</a>, Itama, <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a>, <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> and <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, and also operates a small security division producing patrol vessels, which the company has previously described as non-core and sought to sell.As a result of this, KKCG ⁠wants the government to check whether multiple Chinese investors have acquired shareholdings in <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> under a concerted action. "A request has been received and is currently being considered by the relevant departments,” explained Industry Minister Adolfo Urso.During the announcement of its new CEO Stassi Anastassov, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> said it would continue to execute its existing strategic and industrial plans while further strengthening operational discipline, global development and long-term value creation.The company’s next Board meeting is scheduled for 19 May 2026, during which it will review its first-quarter 2026 financial results.

Ferretti Group appoints Stassi Anastassov as CEO

The Ferretti Group has officially announced the appointment of Stassi Anastassov as its new Chief Executive Officer with immediate effect.

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Ferretti Group appoints Stassi Anastassov as CEO amid ownership tensions

Online marine marketplace <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yacht Sales (Company)">Off The Hook Yachts</a> has completed the acquisition of marine, service and storage company, Apex Marine Group.<img src="https://photo-assets.superyachttimes.com/photo/393587/image/large-77d79f43d3f87b5a5a2311f82a62aa95.png" data-gid="gid://syiq/Photo/393587">The acquisition was <a data-gid="gid://syiq/Article/65451" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yachts to acquire Apex Marine Group (2026-02-24 14:00:00 +0100)">first announced in February 2026</a>, with the deal valued at $5.5 million, with $1.83 million in cash, approximately 670,000 shares valued at $2.70 and a $1.83 million secured seller note at six percent due in three years.Located in South Florida, the Apex facilities include four prime storage and service locations, haul-out capability up to 150 metric tons and vessels up to 40 metres, and comprehensive in-house service teams for repair, refit and refurbishment.“The integration of these capabilities is already generating millions of dollars in annual cost savings by reducing third-party service dependencies, lowering transportation costs, accelerating turnaround times, and delivering higher-quality refurbishments,” said Brian John, CEO of <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yacht Sales (Company)">Off The Hook Yachts</a>. <img src="https://photo-assets.superyachttimes.com/photo/386344/image/large-a0334d742061ce908dacbd406c529d7b.jpg" data-gid="gid://syiq/Photo/386344">“This centralised approach allows us to standardise refurbishment quality, reduce cycle times from acquisition to resale, and scale inventory without proportional overhead increases.”Founded in 2012, <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yacht Sales (Company)">Off The Hook Yachts</a> is an online marine marketplace for pre-owned boats, with an integrated ecosystem that includes <a data-gid="gid://syiq/Company/8384" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Autograph Yacht Group (Company)">Autograph Yacht Group</a>, Azure Funding and proprietary lead-generation platforms.“This acquisition is fundamentally about operational dominance through infrastructure,” concluded Jason Ruegg, Founder of <a data-gid="gid://syiq/Company/5921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Off The Hook Yacht Sales (Company)">Off The Hook Yachts</a>. “Facilities like these are unique in South Florida. Bringing service, storage and hauling in-house is a game changer for our efficiency, margins and ability to scale.”

Off the Hook Yachts completes Apex Marine Group acquisition

Off The Hook Yachts has completed the acquisition of marine, service and storage company, Apex Marine Group.

Off The Hook Yachts completes acquisition of Apex Marine Group

Delivered to her owner in 1981 by Greek builders <a data-gid="gid://syiq/Company/657" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hellenic Shipyards S.A. (Company)">Hellenic Shipyards</a>, the 115.82-metre superyacht <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> once ranked as one of the largest private yachts in the world. Recently photographed in St Tropez, SuperYacht Times takes a closer look at the history of a superyacht that helped to define an era.<img src="https://photo-assets.superyachttimes.com/photo/395975/image/large-ced1c6411a5fc62d0af61921f91ab1da.jpg" data-gid="gid://syiq/Photo/395975">Commissioned by Greek shipping magnate Stavros Niarchos, <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> was created to outdo his long-term rival Aristotle Onassis. Known as the “Golden Greeks,” the fierce competition between the two shipping tycoons extended far beyond their business interests and into their private lives.<img src="https://photo-assets.superyachttimes.com/photo/395970/image/large-f030bb62b8a777b39be342110d5d06f2.jpg" data-gid="gid://syiq/Photo/395970">At the time, Onassis owned the 99.13-metre yacht <a data-gid="gid://syiq/Yacht/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christina O99.13m (325'3&quot;)Canadian Vickers1943">Christina O</a>, which had been transformed from a naval frigate in 1954. <a data-gid="gid://syiq/Yacht/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christina O99.13m (325'3&quot;)Canadian Vickers1943">Christina O</a> was one of the most celebrated private yachts in the world at the time, hosting everyone from politicians and royalty, to Hollywood stars.<img src="https://photo-assets.superyachttimes.com/photo/395972/image/large-4ce1903c2b1197811e5df2ba8b7e0a7c.jpg" data-gid="gid://syiq/Photo/395972">Determined to create a yacht that would outshine <a data-gid="gid://syiq/Yacht/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christina O99.13m (325'3&quot;)Canadian Vickers1943">Christina O</a> in both size and grandeur, Niarchos commissioned <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a>. The yacht was built in Skaramangas, Greece and was an identical sistership to Niarchos’ previous 115.76-metre yacht Atlantis (now <a data-gid="gid://syiq/Yacht/908" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Navtilvs115.76m (379'9&quot;)Hellenic Shipyards S.A.1973">Navtilvs</a>), which was launched almost a decade prior in 1973. <img src="https://photo-assets.superyachttimes.com/photo/395966/image/large-666b4e22e4594cd6b16d5da4c16421ce.jpg" data-gid="gid://syiq/Photo/395966">Measuring nearly 116 metres, <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> surpassed <a data-gid="gid://syiq/Yacht/336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Christina O99.13m (325'3&quot;)Canadian Vickers1943">Christina O</a> in size, while combining the elegance associated with classic yachting. Designed by <a data-gid="gid://syiq/Company/298" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caesar Pinnau (Company)">Caesar Pinnau</a>, <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> features a steel hull and aluminium superstructure, with a vast interior volume of 3,243 GT. <img src="https://photo-assets.superyachttimes.com/photo/395969/image/large-e86a6d345d9688e0c7649e40d3fb797e.jpg" data-gid="gid://syiq/Photo/395969">When <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> entered service in 1981, the superyacht landscape looked very different from today. Yachts exceeding 100 metres were exceptionally rare, with only a handful in existence worldwide.<img src="https://photo-assets.superyachttimes.com/photo/395973/image/large-49b285e7c775919b86b51c839fcd29d7.jpg" data-gid="gid://syiq/Photo/395973">Over the years, <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> has remained a familiar sight in some of the world's most prestigious cruising destinations. But despite this, her interior has never once been publicly revealed throughout her 45-year lifespan!<img src="https://photo-assets.superyachttimes.com/photo/395974/image/large-52105dad783ff186d21a45871de7a5ea.jpg" data-gid="gid://syiq/Photo/395974">Following the death of Stavros Niarchos in 1996, <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> has remained in the ownership of the Niarchos family and is still a familiar sight in the Port of Monaco where she spends most of her time.<img src="https://photo-assets.superyachttimes.com/photo/395964/image/large-2f080dadb1d0a52657e56dfd2789f02b.jpg" data-gid="gid://syiq/Photo/395964">Unlike many yachts of her generation, <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> has never undergone a radical redesign, allowing her to retain the character and styling that made her famous. <a data-gid="gid://syiq/Yacht/909" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Atlantis II115.82m (379'12&quot;)Hellenic Shipyards S.A.1981">Atlantis II</a> can accommodate up to 26 guests and 17 crew and is powered by twin <a data-gid="gid://syiq/Company/2998" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pielstick (Company)">Pielstick</a> engines, which provide her with a top speed of 14 knots and a cruising speed of 12 knots.&nbsp;

Atlantis II: The 116m superyacht built to outdo a rival

Delivered in 1981, the 116m yacht Atlantis II was commissioned by Stavros Niarchos to rival Aristotle Onassis’ superyacht Christina O.

The 37.95-metre <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> motor yacht <a data-gid="gid://syiq/Yacht/7991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kia Ora37.95m (124'6&quot;)Sanlorenzo2020">Kia Ora</a> is currently for sale with Andy McDougall of <a data-gid="gid://syiq/Company/8615" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MXG Yachts (Company)">MXG Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/396593/image/large-d22b2b00ca85295260324f9425435052.jpeg" data-gid="gid://syiq/Photo/396593">Delivered in 2020 as the 20th hull of the <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> SD126 series, <a data-gid="gid://syiq/Yacht/7991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kia Ora37.95m (124'6&quot;)Sanlorenzo2020">Kia Ora</a> presents an opportunity to acquire a yacht that has been used exclusively for private cruising since her delivery. The <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> has recently completed her five-year Class survey and is offered in turnkey condition.<img src="https://photo-assets.superyachttimes.com/photo/396607/image/large-84166541dc4191e9e8971203d199f73d.jpeg" data-gid="gid://syiq/Photo/396607">The <a data-gid="gid://syiq/Yacht/7991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kia Ora37.95m (124'6&quot;)Sanlorenzo2020">yacht&nbsp;Kia Ora for sale</a> features exterior design crafted by <a data-gid="gid://syiq/Company/586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Francesco Paszkowski (Company)">Francesco Paszkowski</a>, with interiors penned by <a data-gid="gid://syiq/Company/5082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Antonio Citterio Patricia Viel (Company)">Citterio-Viel</a>. Her naval architecture was developed in-house by <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>.<img src="https://photo-assets.superyachttimes.com/photo/396642/image/large-4654ca7dfc1edf482436a2efb1d43ffb.jpeg" data-gid="gid://syiq/Photo/396642">Outside, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/built-by=sanlorenzo" rel="noopener noreferrer" target="_blank" title="">Sanlorenzo yacht for sale</a> is defined by expansive glazing, a gently raked profile and generous deck spaces. Her exterior profile is a balance of the timeless character of the SD126 series with contemporary touches thanks to her cosmetic revamp, including the repainting of her hull and upper flybridge in a turtle grey finish. <img src="https://photo-assets.superyachttimes.com/photo/396610/image/large-49a72eb00529fb2a1d4b44e5fcc2b412.jpeg" data-gid="gid://syiq/Photo/396610">Outdoor living is a key feature onboard. Her foredeck lounge provides a secluded area with lounge seating and sunpads, well-suited to relaxing. At her flybridge, guests may enjoy a spacious deck for dining and unwinding while soaking in the panoramic ocean views, while her aft decks appear to create a seamless connection to the sea.<img src="https://photo-assets.superyachttimes.com/photo/396612/image/large-33c174ce669296d9d20405d92e5788d2.jpeg" data-gid="gid://syiq/Photo/396612">Inside, <a data-gid="gid://syiq/Yacht/7991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kia Ora37.95m (124'6&quot;)Sanlorenzo2020">Kia Ora</a> features a bespoke interior designed by <a data-gid="gid://syiq/Company/5082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Antonio Citterio Patricia Viel (Company)">Citterio-Viel</a>. Contemporary in style, her main saloon is a blend of polished finishes with a warm and understated palette, which is further enhanced by the natural light from her large windows. Featuring a dining area that could seat up to 10, a bar, and an arrangement that emphasises comfort, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> is well-suited for long family trips or entertaining guests.<img src="https://photo-assets.superyachttimes.com/photo/279516/image/large-c01bced60ccabeba3c8e8069e431b6da.jpeg" data-gid="gid://syiq/Photo/279516">With a beam of eight metres and a volume spanning 314 GT, accommodation onboard the <a data-gid="gid://syiq/Yacht/7991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kia Ora37.95m (124'6&quot;)Sanlorenzo2020">yacht&nbsp;Kia Ora for sale</a> is arranged for up to 10 guests across five well-appointed staterooms. Four quarters accommodate up to seven crew members, including her captain.<img src="https://photo-assets.superyachttimes.com/photo/279529/image/large-e9d779ef2448692d5d5223a70d5ed98f.jpeg" data-gid="gid://syiq/Photo/279529"><img src="https://photo-assets.superyachttimes.com/photo/279524/image/large-05474a40c6450bec8caabc9df107028b.jpeg" data-gid="gid://syiq/Photo/279524">In terms of performance, <a data-gid="gid://syiq/Yacht/7991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kia Ora37.95m (124'6&quot;)Sanlorenzo2020">Kia Ora</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines delivering a cruising speed of 11 knots and a top speed of 16 knots. Moreover, she offers a range of approximately 3,000 nautical miles at her cruising speed. <img src="https://photo-assets.superyachttimes.com/photo/396641/image/large-5c5004e5b38b798dc29f920c2301814a.jpeg" data-gid="gid://syiq/Photo/396641">All images provided courtesy of <a data-gid="gid://syiq/Company/8615" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MXG Yachts (Company)">MXG Yachts</a>.

38m Sanlorenzo motor yacht Kia Ora for sale

The 37.95-metre Sanlorenzo motor yacht Kia Ora from the Sanlorenzo SD126 series is currently for sale with MXG Yachts.

The <a data-gid="gid://syiq/Yacht/12542" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva Folgore 88/0326.92m (88'4&quot;)Riva S.p.A.2021">third 26.92-metre Riva Folgore 88</a> motor yacht has been sold in an in-house deal with <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a>. Giuseppe Russo introduced the buyer, while Peter Hopwood represented the seller.<img src="https://photo-assets.superyachttimes.com/photo/301077/image/large-10b76486c07392bd2d59fc68a2b8de7a.jpg" data-gid="gid://syiq/Photo/301077">Delivered in 2021, she features interior and exterior design penned by <a data-gid="gid://syiq/Company/366" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Officina Italiana Design (Mauro Micheli) (Company)">Officina Italiana Design</a>. Meanwhile, her builder took charge of her naval architecture. Her interiors are distinguished by dark wood panelling and neutral colors that gives the vessel a balanced aesthetic.In terms of accommodation, she is able to sleep up to eight guests across four ensuite staterooms. Guests can also benefit from plenty of lounging areas on her exterior spaces.The <a data-gid="gid://syiq/Yacht/12542" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva Folgore 88/0326.92m (88'4&quot;)Riva S.p.A.2021">third Riva Folgore 88 yacht</a> is propelled by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, giving her a cruising speed of 30 knots and a top speed of 36 knots.At the time of her sale, she had a last known asking price of $5,950,000.Photo courtesy of <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a>.

Third Riva Folgore 88 yacht sold

The third 26.92-metre Riva Folgore 88 motor yacht has been sold in an in-house deal with Allied Marine.


Third 27m Riva Folgore 88 motor yacht sold

The 69.1-metre <a data-gid="gid://syiq/Company/188" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austal (Company)">Austal</a> superyacht <a data-gid="gid://syiq/Yacht/1146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saluzi69.1m (226'8&quot;)Austal2003">Saluzi</a> has been listed for sale, with Carmen Lau of <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons (Company)">Camper &amp; Nicholsons</a> and Marco Fodale of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.<img src="https://photo-assets.superyachttimes.com/photo/396718/image/large-b6144ccd7b2798b8ae9fe82744ebf8e3.jpg" data-gid="gid://syiq/Photo/396718">One of <a data-gid="gid://syiq/Yacht/1146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saluzi69.1m (226'8&quot;)Austal2003">Saluzi's</a> most distinctive features is her eye-catching hull artwork, created by renowned Chinese artist Li Jiwei. The striking mural depicts a Tang Dynasty warhorse, the inspiration behind the <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale’s</a> name, and gives her an unmistakable presence on the water. Originally built in Australia in 2003 as a five-deck luxury cruise vessel, <a data-gid="gid://syiq/Yacht/1146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saluzi69.1m (226'8&quot;)Austal2003">Saluzi</a> offers a scale of space and onboard amenities rarely found aboard yachts of comparable length.<img src="https://photo-assets.superyachttimes.com/photo/396722/image/large-49ef5d6814d6369cbe089e46b44148bc.jpg" data-gid="gid://syiq/Photo/396722"><img src="https://photo-assets.superyachttimes.com/photo/396721/image/large-bbd1d714645916fd319b6d87c1a1cb66.jpg" data-gid="gid://syiq/Photo/396721"><a data-gid="gid://syiq/Yacht/1146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saluzi69.1m (226'8&quot;)Austal2003">Saluzi’s</a> naval architecture and exterior design were developed in-house by <a data-gid="gid://syiq/Company/188" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Austal (Company)">Austal</a>, while the interiors were designed by <a data-gid="gid://syiq/Company/283" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luiz de Basto Designs (Company)">Luiz de Basto Designs</a>. Offering more than 550-square-metres of exterior deck space and over 1,400-square-metres of interior volume, the yacht accommodates up to 36 guests across 16 staterooms.<img src="https://photo-assets.superyachttimes.com/photo/396723/image/large-1049136815963c123dcab40eda6b6489.jpg" data-gid="gid://syiq/Photo/396723"><img src="https://photo-assets.superyachttimes.com/photo/396727/image/large-547091c61784ccdafc8b1eca2dd17672.jpg" data-gid="gid://syiq/Photo/396727">While alongside, she can host as many as 250 guests. This makes the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> particularly well suited to luxury charter operations, private events, corporate entertaining, wellness retreats and expedition-style experiences.<img src="https://photo-assets.superyachttimes.com/photo/396730/image/large-89dcdaa3c720c78b25f4bcce5fc4e8eb.jpg" data-gid="gid://syiq/Photo/396730"><img src="https://photo-assets.superyachttimes.com/photo/396735/image/large-51a3a406486cbfadd219a79845decc94.jpg" data-gid="gid://syiq/Photo/396735"><img src="https://photo-assets.superyachttimes.com/photo/396732/image/large-878d7628f8357f8938a1b39d3dd4663a.jpg" data-gid="gid://syiq/Photo/396732">Amenities onboard the <a href="https://www.superyachttimes.com/yachts/saluzi" target="_blank">yacht Saluzi for sale</a> include spacious saloons on both the main and bridge decks, alongside a comprehensive wellness offering comprising a gym, spa, two hot tubs, massage room, beauty salon and onboard medical facility. Guests also have access to an extensive collection of tenders, Jet Skis and water toys for exploring destinations both on and off the water.<img src="https://photo-assets.superyachttimes.com/photo/396736/image/large-a709aff4b3fe3c44e09357c73a4f381b.jpg" data-gid="gid://syiq/Photo/396736"><img src="https://photo-assets.superyachttimes.com/photo/396719/image/large-e21c48ad262a88f0125727ffb6944292.jpg" data-gid="gid://syiq/Photo/396719">Powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/built-by=austal" target="_blank">Austal yacht for sale</a> cruises comfortably at 11 knots and can reach a top speed of 14 knots.Photos provided courtesy of of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.

Austal yacht Saluzi for sale

The 69.1-metre Austal superyacht Saluzi has been listed for sale.

69m superyacht Saluzi on the market

The 25.05-metre <a data-gid="gid://syiq/Company/8893" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SICCNA (Company)">Siccna</a> motor yacht <a data-gid="gid://syiq/Yacht/17175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kalani25.0m (82'0&quot;)SICCNA1972">Kalani</a> has entered the market with Matthew Gusman of <a data-gid="gid://syiq/Company/4547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TWW Yachts (Company)">TWW Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/396759/image/large-700f1d1d14daf36e6c66dd8b05cef3b7.jpg" data-gid="gid://syiq/Photo/396759">Built in France by <a data-gid="gid://syiq/Company/8893" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SICCNA (Company)">Siccna</a> and delivered in 1972, the <a data-gid="gid://syiq/Yacht/17175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kalani25.0m (82'0&quot;)SICCNA1972">yacht Kalani for sale</a> presents an opportunity to acquire a classic motor yacht distinguished by her traditional styling, alongside long-range cruising capabilities. Constructed with a steel hull and superstructure, the yacht has been carefully maintained while retaining much of her original character.<img src="https://photo-assets.superyachttimes.com/photo/396762/image/large-055fe6fce8b23be144d0f2ef7a1b7c64.jpg" data-gid="gid://syiq/Photo/396762">Outside, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> exudes timeless appeal, defined by a striking turquoise hull, elegant sheerline and traditional raised pilothouse profile. Expansive teak decks create inviting outdoor spaces throughout, from the shaded dining area aft to the wide foredeck and open upper deck.<img src="https://photo-assets.superyachttimes.com/photo/396763/image/large-e41e5b78025d9090cae5425da7ca34a1.jpg" data-gid="gid://syiq/Photo/396763">Inside, the <a data-gid="gid://syiq/Yacht/17175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kalani25.0m (82'0&quot;)SICCNA1972">yacht Kalani for sale</a> embraces a warm and intimate ambience, characterised by glossy timber detailing, pastel accents and a wide collection of artwork and books. Her main saloon and wheelhouse evoke the feel of a secluded seaside home, thanks to her snug nautical-themed lounge area. Guest accommodations continue this atmosphere, with cosy, light-filled cabins prioritising comfort and a sense of home at sea.<img src="https://photo-assets.superyachttimes.com/photo/396764/image/large-27416c535ffb1b7dc7a4889fa5cc00b0.jpg" data-gid="gid://syiq/Photo/396764">With a beam of 5.7-metres and an internal volume of 92 GT, accommodation onboard the <a data-gid="gid://syiq/Yacht/17175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kalani25.0m (82'0&quot;)SICCNA1972">yacht Kalani for sale</a> is arranged for up to seven guests across three ensuite staterooms. Dedicated quarters are available for up to three crew members.<img src="https://photo-assets.superyachttimes.com/photo/396768/image/large-c65a0c331b962e34c66ed1755c23793b.jpg" data-gid="gid://syiq/Photo/396768">In terms of performance, the <a data-gid="gid://syiq/Yacht/17175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kalani25.0m (82'0&quot;)SICCNA1972">yacht Kalani for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines delivering a top speed of 12 knots and a cruising speed of 10 knots, with a maximum range of 2,500 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/396756/image/large-073e1e52a2d197fe462ee3fc295c7d92.jpg" data-gid="gid://syiq/Photo/396756">All images provided courtesy of <a data-gid="gid://syiq/Company/4547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TWW Yachts (Company)">TWW Yachts</a>.

25m Siccna motor yacht Kalani for sale

The 25.05-metre Siccna motor yacht Kalani is currently for sale with TWW Yachts.

<a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Balk Shipyard</a> has announced that the 29.26-metre yacht <a data-gid="gid://syiq/Yacht/4911" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Belle de Jour29.26m (95'12&quot;)Flevo Ship Holland2013">Belle de Jour</a> is in the final stages of preparation for the summer season, following an extensive four-month pre-season service programme.<img src="https://photo-assets.superyachttimes.com/photo/396661/image/large-59b36989f4aa73b87960aaeded560f41.jpg" data-gid="gid://syiq/Photo/396661"><a data-gid="gid://syiq/Yacht/4911" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Belle de Jour29.26m (95'12&quot;)Flevo Ship Holland2013">Belle de Jour</a> was built in 2013 by <a data-gid="gid://syiq/Company/2991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Flevo Ship Holland (Company)">Flevo Jachtbouw</a> in Nijkerk, east of Amsterdam, and remains the family-run Dutch shipyard's flagship yacht. The builder's roots can be traced to a region with a rich maritime heritage dating back to the 15th century.<img src="https://photo-assets.superyachttimes.com/photo/396663/image/large-a76a2257572d193c6ee22731af08e161.jpg" data-gid="gid://syiq/Photo/396663">Best known today as a refit and ReCraft specialist, <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Balk Shipyard</a> was responsible for the recent works, collaborating closely with <a data-gid="gid://syiq/Company/2991" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Flevo Ship Holland (Company)">Flevo Jachtbouw</a> throughout the programme. According to <a data-gid="gid://syiq/Company/434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Balk Shipyard (Company)">Balk Shipyard's</a>Evan Kortmann, the yard's focus is on ensuring that ‘vessels are primed for their next chapter’.&nbsp;The refit scope encompassed a range of structural, cosmetic and technical upgrades. This included spot hull repairs, rudder works, full antifouling treatment and a fresh pastel blue finish applied below the waterline. Elsewhere, the mast deck was refinished, while routine inspections and maintenance were carried out across the yacht's technical and electrical systems.<img src="https://photo-assets.superyachttimes.com/photo/396665/image/large-44630482bb229c90ed56421e588a457a.jpg" data-gid="gid://syiq/Photo/396665">Designed inside and out by the late Dutch designer <a data-gid="gid://syiq/Company/45" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pieter Beeldsnijder Design (Company)">Pieter Beeldsnijder</a>, <a data-gid="gid://syiq/Yacht/4911" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Belle de Jour29.26m (95'12&quot;)Flevo Ship Holland2013">Belle de Jour</a> is distinguished by her robust profile, high freeboard and clean, purposeful lines. The yacht offers 140 GT of internal volume, with her layout carefully configured to maximise onboard living space.<img src="https://photo-assets.superyachttimes.com/photo/396664/image/large-347f2ca78604be0589317fe632ee5d78.jpg" data-gid="gid://syiq/Photo/396664">“Every vessel has a story worth preserving,” concluded Evan. "Our primary &nbsp;role as a refit and ReCraft specialist is to ensure vessels are primed for their next chapter, while honouring those that came before. Belle de Jour represents precisely the Dutch &nbsp;excellence we're committed to stewarding."

Belle de Jour yacht Refit Balk Shipyard

Balk Shipyard has announced that the 29.26-metre yacht Belle de Jour is in the final stages of preparation for the summer season.

29m Belle de Jour yacht emerges from Balk Shipyard post-refit

<img src="https://photo-assets.superyachttimes.com/photo/396599/image/large-12f0068c8c0415bd38cda0d7548b0ea0.jpg" data-gid="gid://syiq/Photo/396599">The 68.2-metre <a data-gid="gid://syiq/Company/44" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Abeking & Rasmussen (Company)">Abeking &amp; Rasmussen</a> superyacht <a data-gid="gid://syiq/Yacht/6405" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Starlust68.2m (223'9&quot;)Abeking & Rasmussen2020">Starlust</a> was seen anchored off Kos, Greece, on 15 May. According to AIS data, she departed the island on 31 May and is currently en route to Bodrum, Turkey.Previously named Soaring, the vessel was delivered in 2020 and was designed entirely in-house by <a data-gid="gid://syiq/Company/1042" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Focus Yacht Design (Company)">Focus Yacht Design</a>. Her exterior is characterised by a sleek profile, featuring a sharp bow, clean lines and a light grey hull contrasted by a white superstructure. Inside, the 1,541 GT yacht accommodates up to 12 guests across six staterooms. The full-beam owner's suite is among the yacht's standout features, benefitting from a forward-facing position and generous proportions, while an adjoining library offers panoramic views through expansive glazing.Powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, <a data-gid="gid://syiq/Yacht/6405" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Starlust68.2m (223'9&quot;)Abeking & Rasmussen2020">Starlust</a> cruises comfortably at 14 knots and can reach a top speed of 16.2 knots.

Abeking & Rasmussen yacht Starlust in Greece

The 68.2-metre Abeking & Rasmussen superyacht Starlust was seen anchored off Kos, Greece, on 15 May.

68m Abeking & Rasmussen superyacht Starlust in Greece

The Chinese State Council has approved new measures that will reduce administrative and financial barriers for Hong Kong and Macau yacht owners travelling within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).<img src="https://photo-assets.superyachttimes.com/photo/284352/image/large-ecd218fffb9bcb7bafecade7dd2c5004.jpg" data-gid="gid://syiq/Photo/284352">Announced on 30 May 2026, the new policies will remove the requirement for a financial guarantee and introduce a temporary Chinese registration when bringing their yacht into mainland China.Under the new framework, Hong Kong and Macau-registered yachts will be able to obtain temporary ship nationality certificates issued by mainland Chinese authorities without affecting their existing registrations.&nbsp;This will allow yachts to navigate within the waters of nine mainland cities in the Greater Bay Area after completing the necessary entry procedures. “Guangdong, Hong Kong and Macao have been committed to promoting individual yacht travel,” explained a spokesman for the Transport and Logistics Bureau.“Under the new policy, the exemption for the requirement for a guarantee will significantly reduce the financial burden on owners of Hong Kong and Macao yachts when handling cross-border procedures.”<img src="https://photo-assets.superyachttimes.com/photo/380444/image/large-c47ce0baf12facf7f4f5bd21055eb53c.jpg" data-gid="gid://syiq/Photo/380444">To support these efforts, the Hong Kong Marine Department, the Guangdong Maritime Safety Administration and the Macau Marine and Water Bureau established a tripartite working group focused on developing measures to facilitate private yacht movements across the region.The Marine Department is also actively co-ordinating with the Guangdong Maritime Safety Administration on creating southbound measures for yachts travelling from the Chinese Mainland, with details due to be announced soon following finalisation.&nbsp;In March 2025, lawmakers in Hong Kong urged the government to enhance yacht tourism in the Greater Bay Area (GBA) and further develop the necessary infrastructure to support maritime activities.A motion was proposed by Kenneth Lau Ip-keung advocating for improved infrastructure to facilitate island-hopping tourism ventures along Hong Kong’s 1,180-kilometre coastline and its 263 islands.&nbsp;Read more:&nbsp;<a data-gid="gid://syiq/Article/62956" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lawmakers urge Hong Kong government to boost yacht tourism (2025-03-26 12:30:00 +0100)">Lawmakers urge Hong Kong government to boost yacht tourism</a> <img src="https://photo-assets.superyachttimes.com/photo/395562/image/large-12835460c889137d51c1912c58b38d42.png" data-gid="gid://syiq/Photo/395562">Asia-Pacific Superyacht SummitAs the region continues to grow, SuperYacht Times has hosted several editions of the <a data-gid="gid://syiq/Article/66230" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit Japan 2026 in 60 seconds (2026-06-02 15:00:00 +0200)">Asia-Pacific Superyacht Summit</a> in Hong Kong. This year’s edition took place in Kobe, Japan, bringing together industry leaders, yachting clients, and key stakeholders with the shared goal of positioning the Asia-Pacific as a leading superyacht market and cruising destination.You can find out more about the <a data-gid="gid://syiq/Article/66230" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit Japan 2026 in 60 seconds (2026-06-02 15:00:00 +0200)">Asia-Pacific Superyacht Summit</a> and how to get involved with the 2027 edition <a data-gid="gid://syiq/Article/66230" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asia-Pacific Superyacht Summit Japan 2026 in 60 seconds (2026-06-02 15:00:00 +0200)">here</a>.&nbsp;

China eases cross-border yacht owner travel rules

China has approved new measures that will reduce administrative and financial barriers for Hong Kong and Macau yacht owners. 

China eases cross-border travel rules for Hong Kong and Macau yacht owners

<a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a>&nbsp;is both a leader in the field of waterjet technology and a point of reference for serial production tenders. Active across the military, commercial, and superyacht sectors, the Italian brand is now applying its propulsion and manufacturing know-how to the specialist market for limousine tenders.<img src="https://photo-assets.superyachttimes.com/photo/396631/image/large-062ebf001bce4c2cc3c7a9d7b4ad2e91.jpg" data-gid="gid://syiq/Photo/396631">The small town of Albairate in landlocked Lombardy might seem a strange place for a boatbuilder to set up shop, but it is closely linked to the brand’s origins in one of Italy’s richest agricultural regions. Luigi Castoldi was a pioneering engineer in the agricultural machinery sector through his company BCS, which is still extant today. He began exploring waterjet propulsion – still a novelty in the early 1960s – because boats were damaging their propellers on the shallow bottom of the nearby River Ticino.&nbsp;After importing a waterjet drive, he set about re-engineering it to create a more durable and effective design. His first mass-produced <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> waterjet, model Jet 05, made its debut at the 1969 Genoa Boat Show. Since then, over 40,000 <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> waterjets have been delivered around the world, from the compact 224 unit up to the mighty 600 HCT drive that can support installed power of up to 2,700 horsepower.<img src="https://photo-assets.superyachttimes.com/photo/396632/image/large-4d83f3db58d65cf02a38baa8d387c061.jpg" data-gid="gid://syiq/Photo/396632">Today, the company is still family-owned under the directorship of Giacomo Castoldi, Luigi’s grandson, who with his father Franco spearheaded the company’s diversification into the tender market with its own range of diesel-powered jet tenders. The first model, the JT 18 Pro in 1998, served as the blueprint for the current range, from the entry-level Jet Tender 14 up to the 10.5-metre Jet Tender 34. The latter also provides the technical platform for the Jet Tender 34 Limo, the company’s first venture into the limousine market.Why waterjetsWaterjet propulsion for superyacht tenders offers several advantages over traditional propeller-based systems. These include enhanced manoeuvrability, higher efficiency and durability, lower noise and vibration, and the reversing bucket can ‘crash stop’ a boat in less than twice its own length. But arguably the most critical feature – as Luigi Castoldi was quick to realise – is shallow draft.<img src="https://photo-assets.superyachttimes.com/photo/396635/image/large-accb3204fb1c42a0f2bfa16fdfac9f5c.jpg" data-gid="gid://syiq/Photo/396635">“Jet tenders can drive right up to a beach, and most of our models are equipped with bow ramps as standard,” says Giacomo Castoldi. “Combined with a folding console, low draft also means they occupy less vertical space inside the tender garage, while the lack of exposed propeller blades reduces the potential for injury to swimmers, divers, or marine life.”Over the years, <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> has finessed its waterjet technology. Unlike other systems requiring external gearboxes, all <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> waterjets except the entry-level Turbodrive 224 DD have integrated gearboxes. This results in a more compact overall footprint, which means more space for passengers and luggage storage, and simplifies the installation process while reducing the potential for errors or rework. They are also equipped with a patented anti-clogging system that enhances the waterjet’s reliability in challenging conditions. The Clear-Duct unclogging system works by reversing the direction of the impeller and simultaneously opening the protective intake grid to flush out any debris that may have accumulated.<img src="https://photo-assets.superyachttimes.com/photo/396660/image/large-44d8926e35b1304d60e5cdbcb14c3137.jpg" data-gid="gid://syiq/Photo/396660"><a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a>’s latest waterjet drives that carry the HCT acronym have been redesigned to offer a 12% increase in performance compared to previous iterations. Advancements in impeller design, a pre-stator vane system, and an updated post-impeller stator work together to improve the flow of water through the system, reduce cavitation, and ultimately deliver more thrust combined with lower fuel consumption.&nbsp;“These enhancements are largely thanks to investment in CFD analysis,” says Giacomo, “Combining fluid dynamics with our own practical engineering know-how has generated a lot of new ideas."<img src="https://photo-assets.superyachttimes.com/photo/396615/image/large-28e2be0f5dedca48b4f2f92405172d02.jpg" data-gid="gid://syiq/Photo/396615">Total control<a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> also produces its own control systems, from simple mechanical options to the sophisticated ACES system developed in collaboration with <a data-gid="gid://syiq/Company/7877" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Xenta (Company)">Xenta</a>. Powered by a 32-bit embedded processor and utilising a proprietary CAN bus network protocol, the ACES system delivers precision control of engine RPM, waterjet steering nozzles and reversing buckets when transitioning between docking and cruising modes. Additional functions include dynamic positioning and smart anchoring, which simulates mechanical anchoring by swinging around a virtual GPS point. Adaptive steering logic can even provide ‘propeller mode,’ which recognises when the vessel is in reverse to simulate conventional propeller behaviour – a useful feature for operators transitioning to waterjets.To maintain quality control, most of the waterjet components are machined in-house, an exception being the Duplex stainless-steel impellers that rely on precision investment casting technology. With regard to tender production, the whole process – from the 3D design, hull lamination and tube fabrication to the hydraulic and electrical systems – is carried out internally before final testing in its own water basin in front of the factory.<img src="https://photo-assets.superyachttimes.com/photo/396658/image/large-b3c15147d7d49ce31a9b749e8a305ff2.jpg" data-gid="gid://syiq/Photo/396658">When <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> began production of jet tenders in the mid-90s, it decided from the start to take a platform-based approach with fixed hull forms designed around its own propulsion system. By standardising the production process, <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> ensures consistent quality while reducing unit costs through repeated tooling and manufacturing processes. Additionally, serial production provides opportunities for continuous optimisation, further enhancing the performance and quality of each new upgraded model. As the range evolved, customised interior materials, finishes and layouts have become the norm to meet the specific needs of individual clients without having to build costly and time-consuming one-offs.&nbsp;The company has applied exactly the same production philosophy to its new Jet Tender 34 Limo designed by <a data-gid="gid://syiq/Company/153" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nauta Yachts S.r.l. (Company)">Nauta Design</a>. Conceived initially for a fleet of luxury cruise ships currently under construction, each ship will carry four <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> Jet Tender 34 Limo tenders to deliver a sophisticated ship-to-shore guest experience.<img src="https://photo-assets.superyachttimes.com/photo/396657/image/large-a20e0e70cb5a086260c495f6e811d4a1.jpg" data-gid="gid://syiq/Photo/396657">Limo luxury&nbsp;Historically, the limousine tender segment has been defined by high levels of customisation, where each unit is tailored specifically to the design and needs of a particular superyacht. While this approach allows for alignment with the mothership’s aesthetic, it often results in longer lead times, higher costs, and compromises in terms of performance and systems integration. <img src="https://photo-assets.superyachttimes.com/photo/396633/image/large-bb3ca9a1c828124e6a74dc5b67525448.jpg" data-gid="gid://syiq/Photo/396633"><a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a>’s entry into this market introduces a shift toward standardised, platform-based design, which allows for quicker production times and greater system optimisation, while still providing owners with a high degree of personalisation, particularly in the interior architecture. Two primary interior layouts are offered: one with all-seated configurations for maximum comfort, and another combining seating with a pantry and bathroom for longer transfers. Material finishes can also be tailored to suit individual preferences."This project represents a new chapter for <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> that expands our offerings to new markets, while maintaining the commitment to innovation, quality, and luxury we are known for,” says Giacomo. “The opportunity arose to enter the limousine tender market with a semi-serial product that embodies our construction philosophy of creating optimised vessels rather than one-offs.”<img src="https://photo-assets.superyachttimes.com/photo/396625/image/large-24bbf67840c4bba049f3423e568ddbaa.jpg" data-gid="gid://syiq/Photo/396625">“In practical terms, we estimate that our serial-produced limousine tenders are priced at least 35% lower than equivalent full-custom examples,” adds <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a>’s commercial director Luca Taccani, “without sacrificing the luxurious finish or technical sophistication that clients expect.”In addition to the four limo tenders, <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> is also supplying the cruise ships with two customised Jet Tender 28 SV units. The ‘SV’ stands for ‘Support Vessel,’ and the model is specifically designed to work in tandem with the limousine tenders, with an enhanced bow sun-pad, extensive storage, pantry, and premium features like a T-top.<img src="https://photo-assets.superyachttimes.com/photo/396622/image/large-6c33afd5ceeb462bb96cd2592a9fa250.jpg" data-gid="gid://syiq/Photo/396622">The flywheel effect&nbsp;As <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> has expanded its offerings and capabilities, its workforce has grown accordingly and is now nearing 100 direct employees. In terms of business performance, the company has seen consistent growth, especially over the past two years since Luca Taccani joined the company. Annual turnover is currently distributed fairly equally across the waterjet and tender markets (50% and 40% respectively) with the remainder from spare parts and commissioning activities.&nbsp;Although <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> builds its tenders in series, each sale is essentially a one-off transaction with an end client. Its propulsion products, on the other hand, can generate recurring clients that expect reliable and ongoing service. Naval procurement involving multiple waterjet units is an expanding sector for the company, for example. To meet this demand, <a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a> has made a deliberate effort to ensure the availability of components, stocking spare parts for older models well beyond customary timelines – often for more than ten years.“We’ve focused strongly on spare parts and after-sales support with dedicated back-office staff for service management,” says Luca Taccani. “This long-term outlook not only boosts customer loyalty but has also proven financially advantageous. As raw material costs have risen sharply, having a ready stock of components means we’ve been able to avoid significant cost increases.”<a data-gid="gid://syiq/Company/2027" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Castoldi S.p.A. (Company)">Castoldi</a>’s trajectory over the past few years reflects a competitive company that is expanding its product range while also refining its operational efficiency and service capabilities. By focusing on technical innovation and long-term service, it has effectively created a “flywheel” effect, whereby small but consistent wins build momentum over time in a self-sustaining cycle of growth. Moreover, the brand’s entry into the limo tender market aims to demonstrate how serial production methodologies, when combined with proprietary propulsion and rigorous quality control, can challenge the prevailing bespoke approach.<img src="https://photo-assets.superyachttimes.com/photo/396659/image/large-9f4ecad812d4f5c94c3664909275b1d8.jpg" data-gid="gid://syiq/Photo/396659">

The landlocked yard building limousine tenders

Castoldi is entering the limousine tender market with the Jet Tender 34 Limo, combining waterjet technology with a serial-production approach.

When it comes to winter destinations for superyachts, the Caribbean often dominates the conversation. However, recent attention has shifted towards the Red Sea, fuelled by extensive marina development projects on both the Saudi Arabian and Egyptian sides.Strategically located near the Mediterranean, the Red Sea offers superyachts a seamless transition from their summer cruising grounds and is progressing towards becoming a leading winter yachting destination.Despite this progress, several critical areas still require further development to fully realise the Red Sea’s potential as a sought-after destination. These include enhancing collaboration between nation-states, expanding infrastructure, adjusting regulatory frameworks for foreign-flagged vessels, and implementing robust sustainability measures to preserve its rich biodiversity.<img src="https://photo-assets.superyachttimes.com/photo/340269/image/large-9e9fc0cee2376c5984af362e554aca7a.jpg" data-gid="gid://syiq/Photo/340269">At the latest <a data-gid="gid://syiq/Event/232" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Superyacht Summit - 2024">Gulf Superyacht Summit</a> in Dubai, the 'Red Sea Opportunity' panel discussion featured Bahi Naguib, Red Sea Operations Director at <a data-gid="gid://syiq/Company/7369" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Felix Maritime Agency (Company)">Felix Maritime Agency</a>; Vienna Eleuteri, CEO Advisor for Regenerative Development, Regulations, and Policies at the <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">Saudi Red Sea Authority</a> (<a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>); Txema Rubio, Commercial Director of the <a data-gid="gid://syiq/Company/7941" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Group (Company)">MB92 Group</a>; and Rayan Bukhari, General Manager of <a data-gid="gid://syiq/Company/2220" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hill Robinson (Company)">Hill Robinson Saudia</a>. The panelists explored the current progress of key projects and regulatory developments in Saudi Arabia and Egypt, discussing the potential impacts of these ambitious initiatives.The critical role of collaboration between Egypt and Saudi ArabiaTo develop the Red Sea into a superyacht destination, symbiotic collaboration between nearby nations is crucial for its development. Naguib emphasised the necessity of joint efforts between Saudi Arabia and Egypt. He stated, "Everything that passes through Saudi must also traverse the Suez Canal in Egypt. Both the Egyptian government and the private sector are crucial in supporting Saudi Arabia’s initiatives to develop this destination. Given the numerous stakeholders and complex dynamics involved, ensuring seamless access is essential." He noted that operations in the Suez Canal must be as efficient as possible and mentioned that, with cooperative efforts from the Saudi government, Egypt is working to streamline these processes. Furthermore, Naguib highlighted recent regulations introduced by the <a data-gid="gid://syiq/Company/7490" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Suez Canal Authority (Company)">Suez Canal Authority</a>, which offer a 30% discount to yachts under 300 tonnes traveling to the Red Sea, describing this as a commendable first step. However, he stressed the need for further development of infrastructure and destinations in the Red Sea region.Bukhari concurred with Naguib’s points but introduced an additional perspective. "For me, it’s quite straightforward, whether we’re discussing the Egyptian or the Saudi side of the Red Sea. To stimulate growth in the yachting ecosystem, we must create demand," he explained. "This involves developing a compelling and desirable itinerary, especially from the Saudi perspective, with which I am more familiar." Bukhari underlined that numerous developments are in progress. "There are exciting prospects on the horizon, both short-term and long-term. A prime example is the success of the <a data-gid="gid://syiq/Company/6557" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jeddah Yacht Club & Marina (Company)">Jeddah Marina &amp; Yacht Club</a> and <a data-gid="gid://syiq/Company/7283" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sindalah Marina (Company)">Sindalah</a> in <a data-gid="gid://syiq/Company/7371" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NEOM (Company)">NEOM</a>, although, like any project, they require some adjustments. If we continue on this path, I am confident that soon we will establish an attractive itinerary for any superyacht."<img src="https://photo-assets.superyachttimes.com/photo/340144/image/large-2c026ddbd656a1ed4fdbf1fb87bd0b9b.jpg" data-gid="gid://syiq/Photo/340144">Rubio agreed with Bukhari’s point on the importance of creating a compelling itinerary in the Red Sea region. He added, “From our perspective, we play a modest yet crucial role, operating with rigorous discipline and a commitment to adaptability.” Rubio emphasised the broader challenges, stating, “Ultimately, there is a significant amount of infrastructure that still needs to be developed, and while our role may be small, it is essential. Our work not only supports the creation of itineraries but also ensures the availability of services and maintenance, which are critical for the success of winter cruising in the region.Evidence of how successful collaboration between Saudi Arabia and Egypt can be instrumental in developing the Red Sea was underscored by Naguib ahead of the Saudi Red Sea Week. He highlighted that a delegation from Saudi Arabia visited Egypt, which greatly enhanced direct communication between the two countries, particularly in relation to the Suez Canal. “The Egyptian authorities were proactive in ensuring smooth transit for numerous vessels,” Naguib reported. “This official delegation provided Egypt with valuable insights into the expectations and requirements of their clients.” He added that the outcomes not only met but, in some cases, exceeded expectations. “Many were pleasantly surprised by the efficiency of passing through the Suez Canal,” he recounted, emphasising the collaborative efforts of the two governments and their promising potential to establish the Red Sea as a premier destination for yachts.<img src="https://photo-assets.superyachttimes.com/photo/285492/image/large-4b771601-8882-42a3-840f-de9e06e3473e.jpeg" data-gid="gid://syiq/Photo/285492">Regulations and their role in developing the Red SeaWhile infrastructure and international cooperation are crucial, regulatory frameworks are equally vital in shaping the Red Sea's future as a yachting paradise. For a yachting destination to be truly attractive, regulations that facilitate the cruising of foreign-flagged private and commercial vessels are essential. Although a region may boast many marinas, if the conditions do not support easy cruising, it will be challenging to attract superyachts to the area.Eleuteri emphasised the critical role of comprehensive and detailed regulations in advancing yachting activities in the Red Sea. She noted that the <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a> was established to develop a regulatory framework aimed at promoting a thriving maritime sector in the Saudi-administered Red Sea. This framework supports shipyard operations and provides a broad range of services for yachting and superyachting. "By creating a regulatory ecosystem, we ensure that operations not only meet the highest standards but also align with specific sustainability goals. Our goal is to foster an environment where all activities are conducted at their best," she stated. Furthermore, Eleuteri highlighted the importance of innovation across all aspects of this ecosystem and underscored the necessity of collaboration. "The ocean, as we know, has no boundaries and connects us all. I concur with the panellists' earlier points that collaborative and participatory approaches are crucial to our success."Bukhari echoed Eleuteri’s point, explaining that regulations in Saudi Arabia are currently managed through a collaboration between many government entities, ministries and the Saudi Red Sea Authority. He highlighted the establishment of Ebhar, Saudi Arabia's counterpart to Egypt's Manassa platform - a portal that consolidates all government procedures and information from 20 agencies. Ebhar streamlines processes such as yacht registration, procedures for entering and leaving the Kingdom, sailing permits, issuing navigational licenses, and registering yachts under the Saudi flag. “Ebhar dramatically changed the landscape for us,” he remarked. “With its launch and initial release, it marked the beginning of proper governance and the establishment of a healthy yachting ecosystem.”<img src="https://photo-assets.superyachttimes.com/photo/334955/image/large-f6eb5e3e3f5b2a77e6cfc08ed64138c9.jpg" data-gid="gid://syiq/Photo/334955"> On the topic of dealing with superyachts registered under foreign flag states, Bukhari noted that processes can vary depending on the yacht's flag. “If you're talking about white-listed flags, most procedures are straightforward,” he explained. “However, for grey-listed or black-listed flags, the approach can differ. As an agent, I may not be fully positioned to provide a definitive answer, but I believe there are specific processes in place to handle incoming yachts from a customs and immigration perspective, depending on their flag.” He also addressed the issue of VAT, adding, “There are policies and procedures in place, and if followed correctly, VAT can be reclaimed based on factors such as the goods, the time frame, and how and where the records are maintained.”Regarding whether the <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a> collaborates with other stakeholders to establish dialogue for improving regulations in the Red Sea, Vienna Eleuteri shared insights into ongoing efforts. “At present, several initiatives are underway to establish systemic collaborations with major international organizations in the field. Dialogue has been ongoing for some time, and several specific initiatives are currently in progress. For instance, following discussions in Monaco with major player in the industry, we are planning to organise a roundtable. This roundtable will focus on developing sustainable solutions, addressing needs such as those of local fishermen and yachts navigating the Red Sea,” Eleuteri explained. She added that these initiatives are being prepared for a more systematic approach. “There is a clear willingness to progress, and I consider this a very promising start.”<img src="https://photo-assets.superyachttimes.com/photo/291613/image/large-faa764426b1c1ec713163946753184f9.jpeg" data-gid="gid://syiq/Photo/291613">Role of sustainability and its importance in making the Red Sea Region attractiveWith extensive marina construction underway on both the Egyptian and Saudi-administered sides of the Red Sea, discussions about sustainability and the preservation of the region's ecosystem and biodiversity have naturally been raised. Eleuteri addressed this topic, highlighting the launch of the National Red Sea Sustainability Strategy by His Royal Highness Prince Mohammed bin Salman. She explained that the initiative goes beyond implementing regulatory codes and guidelines for building and operating in the Red Sea. “It aims to position Saudi Arabia as a global benchmark for a regenerative and sustainable blue economy,” she said. Eleuteri further emphasised the importance of preserving the region's pristine environment, which underlines the imperative for stringent environmental protections.” The strategy, she noted, focuses on preparing for a deeper understanding of ecological footprints and striving to achieve natural climate-positive contributions. “This is not just an environmental mandate,” she explained, “but a comprehensive framework built on five key pillars: environmental protection, economic development, social development, safety and security, and governance and collaboration.” Eleuteri emphasised that any activities planned in the Red Sea must align with these pillars to build a truly sustainable economy in the region.She also highlighted the sustainable approach to investment, supported by tools to measure both negative and positive impacts. “As we develop new activities or construct facilities, we remain focused on how these contributions enhance GDP, which is critical. More importantly, we are now positioned to report on national determined contributions,” she said, referring to the agreements where industries commit to positively impacting the climate. <img src="https://photo-assets.superyachttimes.com/photo/273322/image/large-81c76517a9d6ab0a6ba06abc70e22e99.jpg" data-gid="gid://syiq/Photo/273322">Naguib agreed with Eleuteri’s point and expanded stating: “And just to add to that, on the sustainability front, Egypt could learn a great deal from your approach. Additionally, on the sustainability front, Egypt stands to benefit immensely from your strategic long-term vision, which places sustainability at the core of developments in the Red Sea. For it to be a lasting and viable destination, it's crucial to ensure that the beautiful dive sites and coral reefs remain intact. Additionally, there is a need for equity, which includes looking after both the fishermen and the yachting community, despite their competing interests.” Naguib also pointed out the critical importance of the regulatory framework, saying, “When you introduce new regulations, we on the Egyptian side pay close attention. We often take inspiration from your models, adapting them with slight modifications to fit our context.”Infrastructure and yacht related servicesFor the Red Sea to become an attractive destination, essential refit facilities and yacht-related services must be established to support visiting yachts. Refit capabilities are particularly crucial, as they provide necessary services, attract yachts to the region for maintenance, and encourage them to remain longer.<img src="https://photo-assets.superyachttimes.com/photo/261740/image/large-0fc9b6da51fb1ccc13fcad3f3ab28963.jpg" data-gid="gid://syiq/Photo/261740">Last year, the <a data-gid="gid://syiq/Company/7941" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Group (Company)">MB92 Group</a>, which includes <a data-gid="gid://syiq/Company/97" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Barcelona (Company)">MB92 Barcelona</a> and <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>, announced a partnership to establish a 10,000-square-metre repair facility. This facility is located near <a data-gid="gid://syiq/Company/7371" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NEOM (Company)">NEOM</a>’s luxury island and yachting destination, <a data-gid="gid://syiq/Company/7283" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sindalah Marina (Company)">Sindalah</a>. During the panel, Rubio shared further insights into the initiative, stating: “We are starting small, relatively speaking. It’s not the same size as the shipyards we have 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> or <a data-gid="gid://syiq/Company/97" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Barcelona (Company)">Barcelona</a>, but it’s a brand new, made-to-measure service facility. We will have a paint shed, a 300-ton travel lift, and a capacity to handle yachts up to 45-metres in length, accommodating around 25 yachts at the same time. Additionally, we will be able to provide offsite services for larger yachts if needed.”Regarding the workforce, Txema Rubio explained that development is still in progress. “We currently have four staff members at the facility, including the managing director, and the workforce strategy aligns with our commitment to local growth,” he noted. “What makes sense is to grow locally.” Rubio elaborated on the implementation plan, which involves a mix of local and international companies establishing operations in the area. “Our experience in <a data-gid="gid://syiq/Company/97" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 Barcelona (Company)">Barcelona&nbsp;</a>and <a data-gid="gid://syiq/Company/547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MB92 La Ciotat (Company)">La Ciotat</a> has shown that attracting OEMs (Original Equipment Manufacturers) can be highly effective. They bring their teams, start training local staff, and create a balanced mix of expertise,” he shared. “The result is a strong collaboration between the expertise of major brands and a skilled local workforce integrated into the shipyard.”Eleuteri expanded on the topic, stressing the unique challenges and opportunities involved in building an industry from the ground up. “Creating an entire industry from scratch is incredibly exciting,” she stated. “It’s not easy, of course, but there are so many aspects to consider, including the professionals involved.” She emphasised the importance of knowledge transfer, adding, “It’s happening in a very smooth and effective way, which is wonderful to see. We are even working on regulating and developing standards for job profiles, training, and certification. All of this contributes to the broader yachting ecosystem.” Eleuteri concluded by underscoring the significance of the moment: “We have this unique opportunity to get it right.”<img src="https://photo-assets.superyachttimes.com/photo/291466/image/large-ee3cbb034446ab3174540d0191674f33.jpeg" data-gid="gid://syiq/Photo/291466">The Red Sea's emergence as a leading winter yachting destination hinges on a multifaceted approach involving enhanced inter-state collaboration, substantial infrastructural developments, stringent yet flexible regulatory frameworks, and steadfast commitments to sustainability. As stakeholders continue to navigate the complexities of this transformation, the collective efforts of nations, industry leaders, and local communities will be crucial in realising the vision of a vibrant, sustainable maritime ecosystem. Despite the progress made, there is still much work to be done. As Eleuteri succinctly remarked, “As a Roman, I can say that Rome wasn’t built in a day.”

Can the Red Sea become a leading winter destination?

When it comes to Winter destinations for superyachts, the Caribbean often dominates the conversation.

Can the Red Sea become a leading winter destination for superyachts?

United Kingdom

Oceanskies Limited

No Image

Saudi Arabia

NEOM

Sindalah Marina

United Arab Emirates

The Gulf Superyacht Summit 2024, previously known as The International Superyacht Summit was acquired by <a href="https://www.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times</a> in May 2022. &nbsp; This 2-day annual event seeks to inform, assist and advise yachting clients and related interested parties, with the goal to develop the Gulf as a superyacht winter destination. &nbsp; The Gulf region is of growing importance to the superyacht industry. Dubai has some of the biggest marina developments in the world and the annual Formula 1 event in Abu Dhabi attracts a large crowd of superyachts. A growing number of yachts are using the UAE as a hub from where they travel further east to places like the Seychelles, Maldives, Indonesia and Thailand. &nbsp; Not only is the region establishing itself as a superyacht hub, but also Dubai aims to become the crypto capital of the world. With a lot of new wealth being created in this market sector, the region will also be of growing importance to yacht builders and brokers looking to engage with new clients.