The Italian newspaper Toscana24 has reported that the auction for the <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> shipyard has failed for the second time, with no offer having been reached by any external party. The shipyard, which has an international reputation for the construction of sailing yachts and superyachts, <a data-gid="gid://syiq/Article/52350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Perini Navi case continues: Bankruptcy declared (2021-02-03 13:15:00 +0100)">announced bankruptcy in February</a>.<img src="https://photo-assets.superyachttimes.com/photo/120215/image/large-99b57a625af8b06c8ac58a4257787560.jpg" data-gid="gid://syiq/Photo/120215">The news is a continuation of the saga which saw no bidders coming forward for the shipyard and its assets in July, when a number of potential bidders including the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> and <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, <a data-gid="gid://syiq/Article/53320" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi auction: Price too high for Ferretti Group and Sanlorenzo (2021-07-07 19:00:00 +0200)">declared the auction price too high</a>.The initial auction price was set at €62.5 million was dropped to €53.5 million, but this has still been deemed too high by the potential bidders.<img src="https://photo-assets.superyachttimes.com/photo/116778/image/large-96084f247d56dd964e3238af0b86d46f.jpg" data-gid="gid://syiq/Photo/116778">On sale was the unitary business complex formed by the shipyards of Viareggio and La Spezia, with a 100% stake in <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> USA. The offer also includes a superyacht under construction, as well as existing employment contracts for the remaining 75 employees and state-owned concessions.<img src="https://photo-assets.superyachttimes.com/photo/109145/image/large-866f8accfb4b75858dde9fd2fb0a4a03.jpg" data-gid="gid://syiq/Photo/109145">In a press conference during the <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2021">Monaco Yacht Show 2021</a> last week, the CEO of the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> Alberto Galassi commented when probed, that the longer the auction continues, the less value the brand and its assets are worth. It was Galassi's opinion that the base auction price outweighed the value of the brand name and that the amount of money needed to restart the company, no matter its reputation, would be untenable.&nbsp;It will now be up to a judge to set a third auction date and to set another price for the value of the shipyard and its assets.

Perini Navi auction fails again

E-volution 42/02 yacht hull by Perini Navi at Viareggio

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Maltese Falcon yacht by Perini Navi in Monaco

Perini Navi facility 

The auction for the Perini Navi shipyard and its assets has failed for the second time.

Is Perini Navi's fate sealed? Second auction fails to find bidders

The 60.96-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Samadhi60.96m (200'0&quot;)Feadship2006">Samadhi</a> has entered the market. The <a href="https://www.superyachttimes.com/yachts/samadhi/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht Samadhi, for sale</a>, was commissioned by experienced owners and has been maintained to the highest standards, leaving her in turnkey condition for her new owner.<img src="https://photo-assets.superyachttimes.com/photo/273156/image/large-2c77f3d6b7f8fdd330e353849437c5d4.png" data-gid="gid://syiq/Photo/273156"><a data-gid="gid://syiq/Yacht/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Samadhi60.96m (200'0&quot;)Feadship2006">Samadhi</a> features exterior design and naval architecture by <a data-gid="gid://syiq/Company/30" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="De Voogt Naval Architects (Company)">De Voogt</a> and has recently completed an extensive refit in May 2023. The <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> also boasts a contemporary interior design by the highly sought after French designer <a data-gid="gid://syiq/Company/533" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rémi Tessier (Company)">Rémi Tessier</a>.<img src="https://photo-assets.superyachttimes.com/photo/273158/image/large-daf86144ea0b19cb956ee874b7754b56.png" data-gid="gid://syiq/Photo/273158"><img src="https://photo-assets.superyachttimes.com/photo/273159/image/large-adec3172a22e865e28c8d3070c512713.png" data-gid="gid://syiq/Photo/273159"><img src="https://photo-assets.superyachttimes.com/photo/273157/image/large-1e3332a9b18c44c3df3d068ddc655e8b.png" data-gid="gid://syiq/Photo/273157"><a data-gid="gid://syiq/Yacht/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Samadhi60.96m (200'0&quot;)Feadship2006">Samadhi</a> offers guests 1,036 GT of interior space, and her large main saloon is bathed in plenty of natural light, thanks to picture windows that line her port and starboard lengths. Forward of this area is her dining area with seating for up to 10 guests around her circular table.<img src="https://photo-assets.superyachttimes.com/photo/273162/image/large-2d911aa5f2a0856d787122b4cb1aa167.png" data-gid="gid://syiq/Photo/273162"><img src="https://photo-assets.superyachttimes.com/photo/273177/image/large-264c62eef56c98f56303d6288e1989a8.png" data-gid="gid://syiq/Photo/273177">The <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> can comfortably accommodate up to 12 guests across a six stateroom configuration, with her owner's suite located on the main deck. The master suite includes an office, handcrafted wardrobes and a luxurious marble ensuite bathroom with sauna, tub and shower.<img src="https://photo-assets.superyachttimes.com/photo/273171/image/large-c621da269dc4ea50fb1c4dced4019861.png" data-gid="gid://syiq/Photo/273171"><img src="https://photo-assets.superyachttimes.com/photo/273174/image/large-84aec8bfe616f2046337931e5012c871.png" data-gid="gid://syiq/Photo/273174"><img src="https://photo-assets.superyachttimes.com/photo/273176/image/large-b596e1f6e6e7754e15b7c2280ec1019b.png" data-gid="gid://syiq/Photo/273176">The remaining guest staterooms are situated on the lower deck and consist of two double staterooms and two convertible twins, all with ensuite bathrooms. There is also an additional stateroom which is suited for children, or staff such as a nanny.<img src="https://photo-assets.superyachttimes.com/photo/273160/image/large-e2c84bd8b93d3fe3b758bd7269e3ec1f.png" data-gid="gid://syiq/Photo/273160"><img src="https://photo-assets.superyachttimes.com/photo/273163/image/large-612f41f03323e071ae2748d6a455233d.png" data-gid="gid://syiq/Photo/273163"><a data-gid="gid://syiq/Yacht/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Samadhi60.96m (200'0&quot;)Feadship2006">Samadhi</a> features plenty of exterior spaces, perfect for entertaining or socialising. Her skylounge includes a cinema room, which connects to the upper deck alfresco dining area. Other key amenities onboard include a fully equipped gym and a packed toy box with <a data-gid="gid://syiq/Company/3030" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cayago AG / Seabob (Company)">Seabobs</a>, Jet Skis, a waterslide, trampoline and an assortment of diving and snorkelling gear.<img src="https://photo-assets.superyachttimes.com/photo/273190/image/large-851a140faf30ccfb125082e9b96c2749.png" data-gid="gid://syiq/Photo/273190">=<img src="https://photo-assets.superyachttimes.com/photo/273185/image/large-9531e439140a8edab685ed3224e3da9d.png" data-gid="gid://syiq/Photo/273185">The <a href="https://www.superyachttimes.com/yachts/feadship/for-sale" rel="noopener noreferrer" target="_blank" title="">Feadship yacht for sale</a> comes equipped with a fleet of three tenders, including a 2022 VQ45 Vanquish Chase Tender, for making the most of shore excursions. Her large swim platform can be accessed via an elegant staircase from her main deck aft, providing direct access to the ocean.<img src="https://photo-assets.superyachttimes.com/photo/273183/image/large-74464d8cd571349b577653afd6581fdb.png" data-gid="gid://syiq/Photo/273183"><img src="https://photo-assets.superyachttimes.com/photo/273180/image/large-41386f76e1b27af67eff31db061e2466.png" data-gid="gid://syiq/Photo/273180"><img src="https://photo-assets.superyachttimes.com/photo/273186/image/large-24c36e7130e14a893e34b288b6cf4503.png" data-gid="gid://syiq/Photo/273186">The upper deck of <a data-gid="gid://syiq/Yacht/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Samadhi60.96m (200'0&quot;)Feadship2006">Samadhi</a> allows guests to relax with panoramic views, as well as shade from her hard top. Guests can also make use of her sun deck to top up their tans, or lounge in her raised Jacuzzi.<img src="https://photo-assets.superyachttimes.com/photo/273193/image/large-8269ab0b4f2d5f0ec316199d0e6b7060.png" data-gid="gid://syiq/Photo/273193"><img src="https://photo-assets.superyachttimes.com/photo/273192/image/large-fd51a7a58b480155bd334683868986f3.png" data-gid="gid://syiq/Photo/273192">In terms of performance, <a data-gid="gid://syiq/Yacht/145" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Samadhi60.96m (200'0&quot;)Feadship2006">Samadhi</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 allowing her to reach a top speed of 16 knots and cruise at 13 knots with an ocean-crossing range of 5,000 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/273196/image/large-20f17d6a3243cb9faa310ba269b1a045.png" data-gid="gid://syiq/Photo/273196">

61m Feadship superyacht Samadhi for sale

The 61m Feadship superyacht Samadhi has entered the market in turnkey condition. 

<img src="https://photo-assets.superyachttimes.com/photo/15430/image/large-506fccea02c329ff5d120f5f7093a86e.jpg" data-gid="gid://syiq/Photo/15430">The 65.4-metre <a data-gid="gid://syiq/Company/4479" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bulyard Shipbuilding Industries (Company)">Bulyard Shipbuilding Industries</a> explorer yacht <a data-gid="gid://syiq/Yacht/5939" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="La Sultana65.4m (214'7&quot;)Bulyard Shipbuilding Industries1962">La Sultana</a> previously named Royal Spice, Kondor Express and AY Petri has been sold, with <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> representing the buyer and Charles Ehrardt of <a data-gid="gid://syiq/Company/6" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Camper & Nicholsons International (Company)">Camper &amp; Nicholsons</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/273208/image/large-a1209a9e67efa6a096edcfc79466761f.jpg" data-gid="gid://syiq/Photo/273208">The explorer yacht was delivered in 1969 as a passenger ship and is the largest yacht built by <a data-gid="gid://syiq/Company/4479" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bulyard Shipbuilding Industries (Company)">Bulyard Shipbuilding Industries</a>. She was converted to a superyacht in 2007 and was completely rebuilt and transformed into a beautiful private yacht that houses seven large staterooms. Up to 12 guests are accommodated onboard the superyacht <a data-gid="gid://syiq/Yacht/5939" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="La Sultana65.4m (214'7&quot;)Bulyard Shipbuilding Industries1962">La Sultana</a>, and she also has accommodation for 20 crew members including the captain.<img src="https://photo-assets.superyachttimes.com/photo/273209/image/large-7fcb5fd7a16db630ef5a85dea614e53a.jpg" data-gid="gid://syiq/Photo/273209"><a data-gid="gid://syiq/Yacht/5939" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="La Sultana65.4m (214'7&quot;)Bulyard Shipbuilding Industries1962">La Sultana&nbsp;</a>has a steel hull and aluminium superstructure. She is powered by a single<a data-gid="gid://syiq/Company/286" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mitsubishi Heavy Industries Ltd. (Company)">&nbsp;Mitsubishi Heavy Industries Ltd</a> engine, which gives her a cruising speed of 11 knots and a top speed of 13 knots. The yacht carries 40,000 litres of fuel onboard, and 20,000 litres of water.&nbsp;

65m Bulyard converted explorer yacht La Sultana sold

65m Bulyard explorer yacht sold, Edmiston representing the buyer, Charles Ehrardt of Camper & Nicholsons representing the seller.

The fifth <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> S501 superyacht <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> has been delivered to her owner from the <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> shipyard in Genoa, Italy. The owner signed the contract for the 49.99-metre motor yacht in July 2021 and appointed <a data-gid="gid://syiq/Company/4547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TWW Yachts (Company)">TWW Yachts</a> as project managers. <img src="https://photo-assets.superyachttimes.com/photo/273069/image/large-a12ca1a1c66a14fdfbc052f612f2c7e0.jpg" data-gid="gid://syiq/Photo/273069"><a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> has been heavily customised to meet the needs of her owner and features exterior design 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 naval architecture from <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa Yachts</a> and <a data-gid="gid://syiq/Company/2051" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NAMES by Francesco Rogantin (Company)">NAMES by Francesco Rogantin</a>.<img src="https://photo-assets.superyachttimes.com/photo/273125/image/large-33e9dd90dffd38d270d3a80ba174267e.jpg" data-gid="gid://syiq/Photo/273125"><img src="https://photo-assets.superyachttimes.com/photo/273127/image/large-b873bd699dc8e29ff30d72251ec8f8bc.jpg" data-gid="gid://syiq/Photo/273127"><img src="https://photo-assets.superyachttimes.com/photo/273123/image/large-7c7177a824af184bae282cd2c4cb8500.jpg" data-gid="gid://syiq/Photo/273123"><img src="https://photo-assets.superyachttimes.com/photo/273128/image/large-d8121b7e0d35fe32d8670447fa361645.jpg" data-gid="gid://syiq/Photo/273128"><a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> features a luxurious and sophisticated interior design from Giorgio Cassetta of <a data-gid="gid://syiq/Company/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cassetta Yacht Designers (Company)">Cassetta Yacht Designers</a>, who opted for a warm and inviting look with the use of rich woods and veined marbles. She also benefits from a natural flow of light from her enlarged windows on the main deck.<img src="https://photo-assets.superyachttimes.com/photo/273116/image/large-98641e267c64e70380a581bad326e263.jpg" data-gid="gid://syiq/Photo/273116"><img src="https://photo-assets.superyachttimes.com/photo/273112/image/large-68302f8da60a1701566dd50c81d50446.jpg" data-gid="gid://syiq/Photo/273112"><img src="https://photo-assets.superyachttimes.com/photo/273119/image/large-bf23e5d95600f4bb9f424858a9387afa.jpg" data-gid="gid://syiq/Photo/273119"><img src="https://photo-assets.superyachttimes.com/photo/273114/image/large-572241906734cd309ac1e02869ace7de.jpg" data-gid="gid://syiq/Photo/273114"><img src="https://photo-assets.superyachttimes.com/photo/273118/image/large-a08cad7fd24a287ba9559a600b92c994.jpg" data-gid="gid://syiq/Photo/273118">Accommodation onboard <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> includes six suites for up to 12 guests, with two customised suites on the main deck. <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> is also able to accommodate a crew of nine, to ensure a high level of comfort and service for guests.<img src="https://photo-assets.superyachttimes.com/photo/273078/image/large-8e9af0a457ac173bfa7c96c5a9f0716d.jpg" data-gid="gid://syiq/Photo/273078"><img src="https://photo-assets.superyachttimes.com/photo/273095/image/large-e8a1d3c5ff8a49096f1279e543139e1d.jpg" data-gid="gid://syiq/Photo/273095"><img src="https://photo-assets.superyachttimes.com/photo/273105/image/large-9483f1afe7fba34e9a340f4dc4c12687.jpg" data-gid="gid://syiq/Photo/273105">Glass bulwarks and fold-out balconies help to bridge the gap between <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a>’s indoor and outdoor spaces, and her owner also gave great attention to her exterior decks. A key element in her design is her alfresco living capabilities, with a large Jacuzzi on her flybridge, alongside seating and a pool on her foredeck.<img src="https://photo-assets.superyachttimes.com/photo/273071/image/large-999dd81b676837aee863f69b78000c3c.jpg" data-gid="gid://syiq/Photo/273071"> <img src="https://photo-assets.superyachttimes.com/photo/273081/image/large-77753f90a22e13a82f4037a13dc92ca6.jpg" data-gid="gid://syiq/Photo/273081"><img src="https://photo-assets.superyachttimes.com/photo/273102/image/large-79635cb5681eff8b55f438fe87bc3e66.jpg" data-gid="gid://syiq/Photo/273102"><img src="https://photo-assets.superyachttimes.com/photo/273101/image/large-4cd960b923f77deb717f4bbf8dc7997a.jpg" data-gid="gid://syiq/Photo/273101">The owner of <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> opted for a spectacular outdoor home cinema screen, which includes a high-luminosity screen located at the front of the swimming pool lounge on the foredeck. <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> is also fitted with a top-of-the-range sound system designed by the award-winning French/British brand Focal &amp; Naim throughout the yacht.<img src="https://photo-assets.superyachttimes.com/photo/273104/image/large-019f432165595477097e6f80d8809960.jpg" data-gid="gid://syiq/Photo/273104"><img src="https://photo-assets.superyachttimes.com/photo/273084/image/large-c4c6ac708fc1a2c7059807b457dd5aff.jpg" data-gid="gid://syiq/Photo/273084"><img src="https://photo-assets.superyachttimes.com/photo/273109/image/large-97ae7546751fbacb3de2891824410b9d.jpg" data-gid="gid://syiq/Photo/273109">&nbsp;“Our usual flexibility in satisfying customer requests is evident in the customisations made to Grey, such as the installation of a swimming pool in the bow, and the fantastic and never seen before cinema/sound system fitted just in front of the pool,” explained <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> sales and marketing manager Giuseppe Mazza.<img src="https://photo-assets.superyachttimes.com/photo/273083/image/large-88b6678a2f3c2babfe5ee10ee6388670.jpg" data-gid="gid://syiq/Photo/273083"><img src="https://photo-assets.superyachttimes.com/photo/273085/image/large-65b561b7c30f3a23cb188258d295feab.jpg" data-gid="gid://syiq/Photo/273085">&nbsp;In terms of performance, <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> is equipped with a conventional propulsion system of twin <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> engines, which provide her with a top speed of 18 knots. <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> will now join her sisterships <a data-gid="gid://syiq/Yacht/5902" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vertige49.99m (164'0&quot;)Tankoa Yachts S.p.A.2017">Vertige</a>, <a data-gid="gid://syiq/Yacht/6614" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SP149.9m (163'9&quot;)Tankoa Yachts S.p.A.2019">SP1</a>, <a data-gid="gid://syiq/Yacht/7680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kinda49.99m (164'0&quot;)Tankoa Yachts S.p.A.2022">Kinda</a> and <a data-gid="gid://syiq/Yacht/7422" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Olokun49.99m (164'0&quot;)Tankoa Yachts S.p.A.2020">Olokun</a> at sea, and will be offered for charter with <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/273065/image/large-9d23cf64470f83c72b87647aab032041.jpg" data-gid="gid://syiq/Photo/273065">

50m Tankoa S501 yacht Grey delivered

The fifth Tankoa S501 superyacht Grey has been delivered to her owner from the Tankoa shipyard in Genoa, Italy.

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A first look onboard the newly delivered  50m Tankoa S501 superyacht Grey

<a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s 111-metre superyacht Project Y722 has been seen out of the shed for the first time as she nears completion. The motor yacht began construction in 2020 at the Zwijndrecht facility in the Netherlands, and is currently the largest yacht in-build at <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>.<img src="https://photo-assets.superyachttimes.com/photo/273135/image/large-7622b0c659d4f0b822f6da83d26b90e1.jpg" data-gid="gid://syiq/Photo/273135">Details surrounding Project Y722 have been kept tightly under wraps, since construction started on the steel hull and aluminium superstructure. Her naval architecture has been penned by <a data-gid="gid://syiq/Company/5009" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lateral Naval Architects (Company)">Lateral Naval Architects</a>, while <a data-gid="gid://syiq/Company/2091" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mark Berryman Design Ltd (Company)">Mark Berryman Design Ltd</a> were responsible for her interior.<img src="https://photo-assets.superyachttimes.com/photo/273134/image/large-9626611c8f66dc0a596dbb00be9c0d2d.jpg" data-gid="gid://syiq/Photo/273134"><img src="https://photo-assets.superyachttimes.com/photo/273136/image/large-439d79f675237f14c103044a0ab2170e.jpg" data-gid="gid://syiq/Photo/273136">In terms of length, Project Y722 ranks as the third largest yacht to be built by <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>, behind the 117-metre motor yacht <a data-gid="gid://syiq/Yacht/6433" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Infinity117.0m (383'10&quot;)Oceanco2022">Infinity</a>, and Jeff Bezos’ recently delivered sailing yacht <a data-gid="gid://syiq/Yacht/7500" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Koru127.0m (416'8&quot;)Oceanco2023">Koru</a>.<img src="https://photo-assets.superyachttimes.com/photo/273137/image/large-50bb6ef9f5efc71fc5bbe2363c5d8352.jpg" data-gid="gid://syiq/Photo/273137">

Oceanco superyacht Project Y722 nears completion

The 111m Oceanco superyacht Project Y722 has been seen out of the shed for the first time as she nears completion. 

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111m Oceanco superyacht Project Y722 seen out of the shed for the first time

<a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> has announced its partnership with NEOM, the global development taking shape in northwest Saudi Arabia. The planned smart city is currently in construction and once complete will support the vision of establishing the area as a world-leading travel destination. <img src="https://photo-assets.superyachttimes.com/photo/250919/image/large-834ab5a6be786201ca6248864772ee79.png" data-gid="gid://syiq/Photo/250919">Through their partnership, <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> will work with NEOM to develop and operate the prestigious marina at Sindalah. Positioned with direct access to the Red Sea, Sindalah will be the closest marina to Europe and the Mediterranean.&nbsp;Sindalah is expected to be a key project in supporting Saudi Arabia’s national tourism strategy, and the marina will offer 86 berths for yachts up to 50-metres. As well as this, additional serviced offshore buoys will provide anchorages for superyachts up to 180-metres.“Sindalah will be one of the most alluring and vibrant yachting destinations in the world, thanks to its strategic location, outstanding amenities and stunning natural landscapes,” explained Antoni Vives, Head of Urban Development at NEOM. <img src="https://photo-assets.superyachttimes.com/photo/250918/image/large-35931dea9dd1c2769f1d6af559839d52.png" data-gid="gid://syiq/Photo/250918">On land, Sindalah will offer guests high-end premium hotels options including Four Seasons and the Ultra Luxury Collection by Marriott. Other tourist attractions will include retail venues, ulinary dining from Michelin star chefs and an exotic golf course designed by Robert Trent Jones and operated by IMG.“This partnership with <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> is one of many steps we are taking to achieve our vision of reshaping the global yachting calendar, with NEOM located one day’s cruising distance from the Mediterranean Sea.”Read: <a data-gid="gid://syiq/Article/56505" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Red Sea development: Sindalah, NEOM’s first island development with 86-berth marina announced (2022-12-05 14:30:00 +0100)">Red Sea development: Sindalah, NEOM’s first island development with 86-berth marina announced<img src="https://photo-assets.superyachttimes.com/photo/273050/image/large-3d985d97247e2118f83b87c08bb9ea4e.jpg" data-gid="gid://syiq/Photo/273050"></a><a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> currently offers a network of 23 marinas across 12 countries, and once established, Sindalah will also offer exclusive membership of <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> superyacht membership program <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> Trident.“Sindalah perfectly integrates with <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>’s global vision to connect the world’s most incredible yachting destinations across our growing marina network,” added Tom Mukamal, CEO of <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a>. “The addition of NEOM to the <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> platform provides superyacht owners, captains and charter guests unrivaled destinations, service and convenience. <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> is tremendously excited about the opportunity to promote this amazing new destination to the international yachting community.”<img src="https://photo-assets.superyachttimes.com/photo/273043/image/large-91d98ad2b2e78c4726181f722b5c486a.jpg" data-gid="gid://syiq/Photo/273043">NEOM is currently in-build, with the first destinations due to open in 2024. The project has been phased with OXAGON getting its first residents in 2024 and TROJENA becoming a place to live, work and holiday in 2026. THE LINE will be activated in 2026 and by 2030, around one million people will be residing in NEOM, with predictions that this figure will rise to nine million in 2045.

IGY Marinas partners with NEOM marina Sindalah in Saudi Arabia

IGY Marinas has announced its partnership with the NEOM marina Sindalah to develop yachting in Saudi Arabia.

IGY Marinas partners with NEOM marina Sindalah to develop yachting in Saudi Arabia 

<img src="https://photo-assets.superyachttimes.com/photo/243632/image/large-3d50ab60434244be48566f6dc3f3b2d3.jpg" data-gid="gid://syiq/Photo/243632">The 41.8-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> motor yacht <a data-gid="gid://syiq/Yacht/2753" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Miss Iloilo41.8m (137'2&quot;)Feadship1986">Miss Iloilo</a>, previously named Golden Rule and&nbsp;Excellence, has been sold with Alan Kelly of <a data-gid="gid://syiq/Company/6930" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="LIIR Yachts International (Company)">LIIR Yachts International</a> representing the buyer and Miles Clark of <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> representing the seller. <img src="https://photo-assets.superyachttimes.com/photo/243633/image/large-f1fddfafe36a2250f695f73030662287.jpg" data-gid="gid://syiq/Photo/243633"><img src="https://photo-assets.superyachttimes.com/photo/243634/image/large-31f69750b1dc27bfe8a93b9e61991006.jpg" data-gid="gid://syiq/Photo/243634"><img src="https://photo-assets.superyachttimes.com/photo/243631/image/large-40a4b70e1641484ab4df18b8e19e1ab5.jpg" data-gid="gid://syiq/Photo/243631">The motor yacht was delivered in 1986. She features exterior design by <a data-gid="gid://syiq/Company/30" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="De Voogt Naval Architects (Company)">De Voogt Naval Architects</a>, while her interior was penned by <a data-gid="gid://syiq/Company/42" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Glade Johnson Design, Inc. (Company)">Glade Johnson Design,</a> with naval architecture by <a data-gid="gid://syiq/Company/30" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="De Voogt Naval Architects (Company)">De Voogt Naval Architects</a>. Up to 13 guests are accommodated onboard the superyacht <a data-gid="gid://syiq/Yacht/2753" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Miss Iloilo41.8m (137'2&quot;)Feadship1986">Miss Iloilo</a>, and she also has accommodation for 11 crew members including the captain.<img src="https://photo-assets.superyachttimes.com/photo/207848/image/large-9943132e2775be61bfd1823f8d14c9fe.jpg" data-gid="gid://syiq/Photo/207848"><img src="https://photo-assets.superyachttimes.com/photo/243641/image/large-d3cd30e8cfe38849a5b905a68536feef.jpg" data-gid="gid://syiq/Photo/243641"><img src="https://photo-assets.superyachttimes.com/photo/207846/image/large-7da9674d3e31131bd8a4cd2b2eca6b2d.jpeg" data-gid="gid://syiq/Photo/207846">The motor yacht has a steel hull and aluminium superstructure. She 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, which give her a cruising speed of 11 knots and a top speed of 13.7 knots. The yacht carries 43,112 litres of fuel onboard, and 8,210 litres of water.<img src="https://photo-assets.superyachttimes.com/photo/207845/image/large-e2c940e783ad00978c0d6e04c80a5914.jpeg" data-gid="gid://syiq/Photo/207845"><img src="https://photo-assets.superyachttimes.com/photo/207844/image/large-939eb03d0cd528608e88d94985a58ff5.jpeg" data-gid="gid://syiq/Photo/207844">She had a last asking price of $7,800,000.

42m Feadship motor yacht Miss Iloilo sold

The 41.8m Feadship motor yacht, Miss Iloilo, sold with LIIR Yachts International representing the buyer and Ocean Independence representing the seller

The 40-metre ketch sailing yacht <a data-gid="gid://syiq/Yacht/4333" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alessandro40.0m (131'3&quot;)Ruth Yachting2011">Alessandro</a> is for sale. The <a href="https://www.superyachttimes.com/yachts/alessandro" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a>, which was built by Turkish shipyard <a data-gid="gid://syiq/Company/2667" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ruth Yachting (Company)">Ruth Yachting</a>, was launched in 2011. <img src="https://photo-assets.superyachttimes.com/photo/273022/image/large-0a61029438fb1a8ef7c6c0b260be56d0.png" data-gid="gid://syiq/Photo/273022">The <a href="https://www.superyachttimes.com/yachts/sailing/for-sale" rel="noopener noreferrer" target="_blank" title="">sailing yacht for sale</a> features a ketch rig and wooden hull, with an 8-metre beam and volume of 143 GT. Designed in house by her builder, the sailing yacht features expansive decks with a large dining area, forward sunbathing and deck Jacuzzi. The yacht also features a fold down transom that transforms into a swim platform and offers easy access to the main deck.<img src="https://photo-assets.superyachttimes.com/photo/260745/image/large-83c3a6edad2ba8d3a8d1b8dfca6188b8.png" data-gid="gid://syiq/Photo/260745"><img src="https://photo-assets.superyachttimes.com/photo/260747/image/large-89d469262d367a1a5458789d4644b85d.png" data-gid="gid://syiq/Photo/260747"><img src="https://photo-assets.superyachttimes.com/photo/260754/image/large-6b81363dcf26172b1b169d5f1d5b3dfb.png" data-gid="gid://syiq/Photo/260754">&nbsp;Able to accommodate as many as 10 guests between five staterooms, the yacht for sale has a full beam owner's suite, and four doubles. The owner's suite is extremely spacious, with a centralised, walk-around king bed, a number of lounges and a small table for working or dining.<img src="https://photo-assets.superyachttimes.com/photo/260750/image/large-40cbdb82ed05d8947d0024b4edfc0b5f.png" data-gid="gid://syiq/Photo/260750"><img src="https://photo-assets.superyachttimes.com/photo/260751/image/large-3bd882929bd654cb37762f8b1aa62421.png" data-gid="gid://syiq/Photo/260751"><img src="https://photo-assets.superyachttimes.com/photo/260752/image/large-eca222858d2411f14e717b63aa75914f.png" data-gid="gid://syiq/Photo/260752">The yacht's interior is well appointed and she features a comfortable and spacious main saloon and cockpit area, with a large dining table that can accommodate as many as 10 guests. The main saloon features a bar, lounge and dining area, as well as a steering wheel.<img src="https://photo-assets.superyachttimes.com/photo/260748/image/large-48bccaee4ddebfdf8afe3e09091d720a.png" data-gid="gid://syiq/Photo/260748"><img src="https://photo-assets.superyachttimes.com/photo/260749/image/large-b068764eeaa049f9ec706c6494c2065f.png" data-gid="gid://syiq/Photo/260749">The <a href="https://www.superyachttimes.com/yachts/ruth-yachting/for-sale" rel="noopener noreferrer" target="_blank" title="">Ruth Yachting yacht for sale</a> is powered by twin <a data-gid="gid://syiq/Company/5350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Volvo Penta (Company)">Volvo Penta</a> engines to a top speed of 13 knots under power, and a cruising speed of 9 knots.<img src="https://photo-assets.superyachttimes.com/photo/260744/image/large-fb0b65dfa1cb862c527dff7b7e0d0555.png" data-gid="gid://syiq/Photo/260744">She is currently located near Split, Croatia and is available for viewings throughout the summer.

40m sailing yacht Alessandro for sale

The 40m ketch sailing yacht Alessandro is for sale. 

40m ketch sailing yacht Alessandro for sale

The 31.39-metre <a data-gid="gid://syiq/Company/2631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Broward Shipyard (Company)">Broward&nbsp;</a>motor yacht <a data-gid="gid://syiq/Yacht/2153" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Three Kings31.39m (102'12&quot;)Broward Marine1999">Three Kings</a>, previously named Depression, has been sold with Gary Goddard of <a data-gid="gid://syiq/Company/5421" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Staten Island Yacht Sales (Company)">Staten Island Yacht Sales</a> representing the buyer and Bill Bowers of <a data-gid="gid://syiq/Company/2578" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="26 North Yachts (Company)">26 North Yachts</a> representing the seller. <img src="https://photo-assets.superyachttimes.com/photo/179466/image/large-8fe8714f44db9274f2afb057add7c29a.jpg" data-gid="gid://syiq/Photo/179466"><img src="https://photo-assets.superyachttimes.com/photo/208027/image/large-8404c35ce80fef74eae44767b3b9ef00.jpeg" data-gid="gid://syiq/Photo/208027"><img src="https://photo-assets.superyachttimes.com/photo/194537/image/large-3b8e0cf6d988ebde96253762af352e78.jpeg" data-gid="gid://syiq/Photo/194537">The motor yacht was delivered in 1999 and is the seventieth-largest built by <a data-gid="gid://syiq/Company/2631" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Broward Shipyard (Company)">Broward</a>. She &nbsp;features exterior design by <a data-gid="gid://syiq/Company/488" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Broward Marine (Company)">Broward Marine</a>, with naval architecture by <a data-gid="gid://syiq/Company/488" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Broward Marine (Company)">Broward Marine</a>. Up to eight guests are accommodated onboard the superyacht <a data-gid="gid://syiq/Yacht/2153" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Three Kings31.39m (102'12&quot;)Broward Marine1999">Three Kings</a>, and she also has accommodation for four crew members, including the captain.<img src="https://photo-assets.superyachttimes.com/photo/194530/image/large-a76d649f09cbb7eb618480f9b2be4399.jpeg" data-gid="gid://syiq/Photo/194530"><img src="https://photo-assets.superyachttimes.com/photo/194529/image/large-47298ae68296d2e4829d457072a6c847.jpeg" data-gid="gid://syiq/Photo/194529">The motor yacht has an aluminium hull and aluminium superstructure. She is powered by twin <a data-gid="gid://syiq/Company/1497" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Detroit Diesel (Company)">Detroit Diesel</a> engines, which give her a cruising speed of 15 knots and a top speed of 20 knots. The yacht carries 32,627 litres of fuel onboard, and 4,164 litres of water.<img src="https://photo-assets.superyachttimes.com/photo/194527/image/large-01ac63caba1e926af68ceb47c8bc4ff8.jpeg" data-gid="gid://syiq/Photo/194527">Her last known asking price was $1,599,000.&nbsp;

31m Broward motor yacht Three Kings sold

31.39-metre Broward motor yacht Three Kings has sold with Staten Island Yacht Sales representing the buyer and 26 North Yachts representing the seller

The 29-metre <a data-gid="gid://syiq/Company/886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Intermarine Savannah (Company)">Intermarine</a> motor yacht <a data-gid="gid://syiq/Yacht/5543" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lukousaurus29.0m (95'2&quot;)Intermarine Savannah2001">Lukousaurus</a>&nbsp;previously named Krishelle, has been sold with Matthew Martin of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a> representing the buyer and Peter Jeisey of <a data-gid="gid://syiq/Company/6998" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grand Isle Marina (Company)">Grand Isle Marina</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/190630/image/large-ff93ff09df2c68c6b6c73caaba78150a.jpeg" data-gid="gid://syiq/Photo/190630">The flybridge yacht was delivered in 2001 and is the ninth-largest yacht built by <a data-gid="gid://syiq/Company/886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Intermarine Savannah (Company)">Intermarine</a>. She features interior design by the <a data-gid="gid://syiq/Company/150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pavlik Design Team (Company)">Pavlik Design Team</a>. Up to six guests are accommodated onboard the superyacht <a data-gid="gid://syiq/Yacht/5543" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lukousaurus29.0m (95'2&quot;)Intermarine Savannah2001">Lukousaurus</a>, and she also has accommodation for three crew members including the captain. <img src="https://photo-assets.superyachttimes.com/photo/273153/image/large-e19fce349a3584a61a2c665c9a9f1831.jpg" data-gid="gid://syiq/Photo/273153"><img src="https://photo-assets.superyachttimes.com/photo/273154/image/large-242b61559360d3226ed6fe6523d3c6fa.jpg" data-gid="gid://syiq/Photo/273154">The flybridge yacht 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, which give her a top speed of 22 knots. The yacht carries 15,991 litres of fuel onboard.Her last known asking price was $1,595,000.&nbsp;

29m Intermarine flybridge yacht Lukousaurus sold

The 29-metre Intermarine flybridge yacht Lukousaurus has sold with Fraser representing the buyer and Grand Isle Marina representing the seller

29m Intermarine motor yacht Lukousaurus sold

<a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a> has announced the appointment of George Whitehouse as Business Development Director at their global headquarters in Fort Lauderdale, Florida.<img src="https://photo-assets.superyachttimes.com/photo/273029/image/large-2f7927992266e1459efc765477101bac.png" data-gid="gid://syiq/Photo/273029">George Whitehouse joins the company with a wealth of information and over 35 years of experience in the superyacht industry. Throughout his career he has worked as a captain for superyachts between 50 and 73-metres, as well as a Business Development Director at some of the most renowned shipyards.George has demonstrated his commitment to the industry through his roles at the <a data-gid="gid://syiq/Company/243" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rybovich Shipyards (Company)">Rybovich Marina &amp; Shipyard</a>, <a data-gid="gid://syiq/Company/1868" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Savannah Yacht Center (Company)">Savannah Yacht Center</a> and his involvement with the redesign of <a data-gid="gid://syiq/Company/2067" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lauderdale Marine Center (Company)">Lauderdale Marine Center</a>."I am thrilled to join <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a>," said Whitehouse. "With my experience and the exceptional team at <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">N&amp;J</a>, we will unlock the full potential of our organisation and elevate the positioning of big boats in the market."<img src="https://photo-assets.superyachttimes.com/photo/219126/image/large-206b550a22422538d353d3e1d1b64044.jpeg" data-gid="gid://syiq/Photo/219126">As the new Business Development Director at <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a>, George will collaborate with all of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a>’s Commercial Divisions. His role will involve driving business and focus on delivering outstanding results for clients, while leveraging his expertise in handling large vessels and optimising operational processes."Having George join the <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a> team is an exciting moment for us. His wealth of experience and expertise in the superyacht industry will undoubtedly elevate our capabilities and strengthen our position as a leader in the market," concluded Daniel Ziriakus, President and COO of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop and Johnson (Company)">Northrop &amp; Johnson</a>.

Northrop & Johnson appoints new Business Development Director

Northrop & Johnson has announced the appointment of George Whitehouse as Business Development Director.

George Whitehouse joins Northrop & Johnson as Business Development Director

Since last May, the <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> shipyard has faced an uncertain future. Having first been declared bankrupt with a reported loss of €80,870,000 at the end of 2019, the Italian sailing yacht builders were of interest to fellow shipyard <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, but <a href="https://www.superyachttimes.com/yacht-news/perini-navi-blue-skye" rel="noopener noreferrer" target="_blank" title="">more recently was due to be acquired by the Blue Skye Investment Group.</a>&nbsp;Now with exposed debts of over €100,000,000, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> was heavily reliant on <a href="https://www.superyachttimes.com/yacht-news/perini-navi-investors" rel="noopener noreferrer" target="_blank" title="">the restructuring plan offered by Blue Skye</a> which guaranteed a four-year loan of €30,000,000 at a rate of 12% with pre-tax deductions on all goods owned by the shipyard. However, as recently revealed in Italian media MF-Milano Finanza, the judges at the bankruptcy court of Lucca were not able to conclude the deal. <img src="https://photo-assets.superyachttimes.com/photo/99461/image/large-c380d012b376f3b8409a2ea2c099fb6c.jpg" data-gid="gid://syiq/Photo/99461">As the restructuring plan was "not deposited", the bankruptcy court of Lucca has decided not to give the Tabacchi company any more time and proceeded with the execution of the bankruptcy. At this point, the only option to save <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> is through a bankruptcy auction procedure, which is said to be still of interest to <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> and the <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> Group. Most recently, the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Italian Sea Group</a> has expressed interest in the failing brand, which they say "represents a strategic interest, also for Italy itself". Also, <a data-gid="gid://syiq/Company/1757" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palumbo Superyachts (Company)">Palumbo Superyachts</a> is the latest industry player intending to participate in the auction procedure.&nbsp; <img src="https://photo-assets.superyachttimes.com/photo/121695/image/large-fc60fc8141ace7fe4a998b6551f5d1d5.jpg" data-gid="gid://syiq/Photo/121695">MF-Milano Finanza reported that: "The two contenders will aim at obtaining the lease of the business unit and subsequently purchasing the company and the brands. It must be said that <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is particularly interested in the Viareggio facility and the Perini Navi brand, while <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> is looking more closely at the production site in La Spezia."<img src="https://photo-assets.superyachttimes.com/photo/115064/image/large-fa91ae15855e3526c9118f6d7536a1b5.jpg" data-gid="gid://syiq/Photo/115064">The report also mentioned that: one of the main problems lies in the guarantees that Tabacchi had provided through its holding company Fenix to the owners of yacht projects in construction. Tabacchi's largest contract was signed in 2017 for a sailing yacht worth between €54 and 56 million.

Is Perini Navi bankrupt? Investment plan fails to proceed and auction could soon begin

Is Perini Navi bankrupt? As the court case continues, Italian press MF-Milano Finanza share the latest. 

The Perini Navi case continues: Bankruptcy declared

The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> and <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> have announced that they deem the <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> auction starting price of €62.5 million to be too high for the real value of the assets. Though the partnership have expressed keen interest in the purchasing of <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, its shipyard, real estate and in the retention of its staff, they stated; “While extremely interested in the acquisition of <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and the implementation of an important relaunch plan, in consideration of the fixed auction base, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> and <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reserve the right - albeit painful - not to participate in the auction announced by the curator for the July 30, 2021.”<img src="https://photo-assets.superyachttimes.com/photo/109145/image/large-866f8accfb4b75858dde9fd2fb0a4a03.jpg" data-gid="gid://syiq/Photo/109145">The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> and <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> are willing to invest substantially in the assets, but they believed that the considerable amount of investment necessary to truly rescue and rejuvenate the legendary yard, was not considered when the starting price was set.

Ferretti Group and Sanlorenzo deem Perini Navi price too high

The Ferretti Group and Sanlorenzo have announced that they deem the Perini Navi auction price of €62.5 million to be too high.