Renowned superyacht photographer Marc Paris died in a plane crash on 24 December on a photography job in Turkey. Marc was one of the most respected photographers in the yachting scene, and we have published many of his photos over the years. <img alt="" src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/142210/image/large-b4cda30b441e5463730a213847db3890.jpg" data-gid="gid://syiq/Photo/142210">Our paths crossed many times, and it was always a pleasure seeing Marc's friendly face in the crowd. I last saw Marc at the airport in Antigua, where he passionately talked about some of his recent photo shoots, as well as some of the shoots he was looking forward to, such as as trip to Costa Rica, and a potential project in Antarctica. The SYT team extends its sincere condolences to Marc's family and friends. He will be greatly missed. By Maarten Janssen

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Renowned superyacht photographer Marc Paris dies

<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

Italian yacht builder <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has appointed a new Board of Directors during its Ordinary Shareholders’ Meeting held on 14 May 2026, and confirmed the departure of longtime CEO Alberto Galassi after 12 years leading the company.<img src="https://photo-assets.superyachttimes.com/photo/220951/image/large-769ff4738384374b511d59651630542a.jpg" data-gid="gid://syiq/Photo/220951">The new board of directors was announced following today’s earlier announcement that Piero Ferrari and Stefano Domenicali had resigned yesterday evening, with immediate effect.Read:&nbsp;<a data-gid="gid://syiq/Article/66083" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti directors Piero Ferrari and Stefano Domenicali resign amid board tensions (2026-05-14 11:30:00 +0200)">Ferretti directors Piero Ferrari and Stefano Domenicali resign amid board tensions</a><img src="https://photo-assets.superyachttimes.com/photo/370929/image/large-3ff33c68bd9eb79649851d2a92eaeb2b.jpg" data-gid="gid://syiq/Photo/370929">Shareholders appointed Tan Ning as Chairman of the Board of Directors, while the board is expected to formally appoint Stassi Anastassov as Chief Executive Officer during a follow-up board meeting scheduled for 15 May 2026.“It is a great honor for me to be elected Chairman of the Board and wish to express my sincere gratitude to the Shareholders for their trust and continued support,” explained Tan Ning, the Chairman of the Board of Directors.“I would also like to extend my heartfelt thanks to the outgoing Board of Directors and Board of Statutory Auditors, as well as to the outgoing CEO, Mr Alberto Galassi, for work carried out during his mandate in the past twelve years.”The Shareholders’ Meeting appointed nine members to the Board of Directors, which will remain in office until the approval of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s 2028 financial statements. The board includes newly appointed Patrick Sun, Federica Marchionni, Zhu Yi and Donatella Sciuto as independent directors, while Katarína Kohlmayer joins the board representing minority shareholder Azùr a.s.<img src="https://photo-assets.superyachttimes.com/photo/345521/image/large-30a3e8a5f540ae8ddee0f58d7a955771.jpg" data-gid="gid://syiq/Photo/345521">The Board of Directors is expected to approve the following proposed structure during its meeting on 15 May, which includes, &nbsp;Tan Ning as Executive Director and Chairman, Stassi Anastassov as Chief Executive Officer, and Patrick Sun, Zhu Yi, Federica Marchionni and Donatella Sciuto as non-executive independent directors.The company also proposed the formation of several governance committees, including Audit, ESG, Strategic, Nomination and Remuneration committees.Alongside the leadership changes, shareholders approved <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s 2025 financial statements, with the group reporting net new yacht revenues of €1.23 billion, up five percent year-on-year. Adjusted EBITDA increased 6.7 percent to €202.8 million, while the company reported a net cash position of €111 million.Shareholders also approved the distribution of a dividend of €0.11 per share, representing a maximum payout of approximately €37.2 million. The dividend will be paid on 17 June 2026.“The new Board of Directors represents continuity, stability and growth,” concluded Ning. “It leverages a long-term industrial vision aimed at enhancing the Group and its brands, as well as maintaining the manufacturing presence in Italy and the global commercial network, in line with the path undertaken since 2012.”

Ferretti appoints new Board of Directors

Ferretti Group has appointed a new Board of Directors and confirmed the departure of longtime CEO Alberto Galassi.

Ferretti CEO Alberto Galassi departs as company appoints new Board of Directors

The largest yachts in Saint Tropez

We take a look at some of the largest yachts recently in Saint Tropez below.

Spotted: The largest yachts in Saint Tropez

<a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a> has announced the launch of the first 49.9-metre <a data-gid="gid://syiq/Yacht/13932" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto Fast 50/0149.9m (163'9&quot;)Baglietto S.p.A.2026">FAST50 yacht</a> from its shipyard in La Spezia, Italy. The yacht is the debut unit in the Italian shipyard’s new FAST50 series, introducing a new generation of aluminium superyachts combining high-performance, generous volumes, and aggressive styling.<img src="https://photo-assets.superyachttimes.com/photo/395886/image/large-26d5b7f1e0ee1e363785c3eb868454d2.jpg" data-gid="gid://syiq/Photo/395886" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"> The <a data-gid="gid://syiq/Yacht/13932" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto Fast 50/0149.9m (163'9&quot;)Baglietto S.p.A.2026">FAST50 yacht</a> was first unveiled as <a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a>’s flagship fast yacht concept in February 2024, combining the performance capabilities of the shipyard’s historic aluminium builds with the volumes and liveability typically associated with larger displacement yachts. <a data-gid="gid://syiq/Article/59694" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto introduces Francesco Paszkowski-designed X50 and FAST50 superyachts (2024-02-08 15:45:00 +0100)">Read: Baglietto introduces Francesco Paszkowski-designed X50 and FAST50 superyachts</a> According to her builder, the model has been developed to reinterpret through a contemporary lens the legacy of iconic Baglietto fast yachts such as <a data-gid="gid://syiq/Yacht/1635" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adler36.0m (118'1&quot;)Baglietto S.p.A.1987">Adler</a>, Pachamama and the Compasso d’Oro-winning <a data-gid="gid://syiq/Yacht/2036" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monokini44.0m (144'4&quot;)Baglietto S.p.A.2013">Monokini</a>. “With the <a data-gid="gid://syiq/Yacht/13932" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto Fast 50/0149.9m (163'9&quot;)Baglietto S.p.A.2026">FAST50</a>, we wanted to reinterpret <a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a>’s most authentic DNA- that of the large, high-performance aluminium yachts that shaped the shipyard’s history- translating it into a contemporary platform capable of combining performance, comfort and extraordinary liveability,” commented Fabio Ermetto, Chief Commercial Officer at <a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a>. “This project perfectly represents our vision: sporty yachts with a strong identity, yet architecturally and technically advanced, and deeply tailored around the owner’s lifestyle.” Built entirely in aluminium, the FAST50 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>, who also collaborated with <a data-gid="gid://syiq/Company/6365" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Margherita Casprini (Company)">Margherita Casprini</a> on the interior design. Her naval architecture was crafted by <a data-gid="gid://syiq/Company/5244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="PierLuigi Ausonio Naval Architecture (Company)">Pierluigi Ausonio Naval Architecture</a>.<img src="https://photo-assets.superyachttimes.com/photo/395885/image/large-0f0cbb8a980f43063a7800f391c1bc74.jpg" data-gid="gid://syiq/Photo/395885" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: rgb(255, 255, 255);">Throughout the project, <a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a> has drawn inspiration from the automotive sector, with integrated air intakes, sports car-inspired stern fairleads and a bespoke “Porsche Chalk” hull colour developed using a custom Boero paint cycle.A key feature of the <a data-gid="gid://syiq/Yacht/13932" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto Fast 50/0149.9m (163'9&quot;)Baglietto S.p.A.2026">FAST50</a> is her two-level stern, which is fitted with several innovative features introduced on the T-line, including the yard’s signature fold-down bulwarks that extend the beach club area closer to the water, alongside a hidden transformer replacing the traditional passerelle to keep the yacht’s sleek look. In addition, the yacht’s indoor and outdoor areas are seamlessly connected thanks to her full-height windows and Baglietto’s signature “cut-out” bulwarks, which strengthen connection to the sea.On her upper deck, a veranda that opens on three sides hosts a panoramic dining room, while her foredeck features a lounge area, sunpads and a Jacuzzi located at the bow. Moreover, a rooftop, rare for yachts of her category, serves as a private retreat where guests can dine, lounge, and relax.Furthermore, a stern garage with a flooding launch system is capable of accommodating a tender up to seven-metres, alongside a second garage forward.The yacht's interiors have been designed to complement the exterior design. Lacquered surfaces, experimental woods such as burnt oak, and artistic lighting all harmoniously contribute to her contemporary design profile. Lightweight materials were favoured over heavier marble and natural stone to support the yacht's high-performance credentials, with even the exterior handrails crafted from titanium to optimise weight.Unlike many of the shipyard’s earlier fast yachts, the <a data-gid="gid://syiq/Yacht/13932" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto Fast 50/0149.9m (163'9&quot;)Baglietto S.p.A.2026">FAST50 yacht</a> has been developed across three full decks, featuring a wide-body owner's suite on the main deck.&nbsp;At an interior volume of 499 GT, accommodation onboard is arranged across four staterooms, including two VIP staterooms and two twin staterooms on the lower deck, all with en-suite facilities. Crew accommodation comprises four dedicated quarters, captain's quarters and a spacious crew mess.In terms of performance, the yacht is powered by four <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, which are expected to deliver a top speed of 30 knots.&nbsp;

First 50m Baglietto FAST50 superyacht launched

Baglietto has launched the first 50m FAST50 yacht from its shipyard in La Spezia, Italy.


The 29.6-metre Sanlorenzo motor yacht <a data-gid="gid://syiq/Yacht/10797" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kapusha29.6m (97'1&quot;)Sanlorenzo2021">Kapusha</a> has been sold. 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> introduced the buyer, while Dmitry Lukin of <a data-gid="gid://syiq/Company/4536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="West Nautical (Company)">West Nautical</a> Middle East represented the seller.<img src="https://photo-assets.superyachttimes.com/photo/395804/image/large-a388d13b778e3f2e96d4d2837d4f9bbc.png" data-gid="gid://syiq/Photo/395804">Delivered in 2021, she features interior design created by <a data-gid="gid://syiq/Company/105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Zuccon International Project (Company)">Zuccon International Project</a> and naval architecture penned in-house by her builder. Inside, her Soho-inspired palette marries warm woods, tailored textiles and stone detailing.She can accommodate up to eight guests across four well-appointed staterooms, consisting of a full-beam owner’s suite, VIP and two twin suites. Moving outside, guests can socialise in the flybridge, while multiple dining and sunbathing zones are spread out throughout the exterior areas.In terms of her technical aspects, <a data-gid="gid://syiq/Yacht/10797" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kapusha29.6m (97'1&quot;)Sanlorenzo2021">Kapusha</a> is fitted with zero-speed fin stabilisers, hydraulic stern thrusters and a Raymarine Diamond navigation package.At the time of her sale, she had a last known asking price of €7,250,000.Photo courtesy of <a data-gid="gid://syiq/Company/4536" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="West Nautical (Company)">West Nautical</a>.

Sanlorenzo yacht Kapusha sold

The 29.6-metre Sanlorenzo motor yacht Kapusha has been sold.

30m Sanlorenzo motor yacht Kapusha sold

The 24-metre <a data-gid="gid://syiq/Company/440" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Soyaslan Denizcilik Ltd (Company)">Soyaslan Denizcilik</a> explorer yacht <a data-gid="gid://syiq/Yacht/12340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ICE 24.0m (78'9&quot;)Soyaslan Denizcilik Ltd2023">Ice</a> is currently for sale with Carla Ansari 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/354795/image/large-33f498ae79075cf1bf8fa94117bb0e36.png" data-gid="gid://syiq/Photo/354795">Built by Turkish shipyard <a data-gid="gid://syiq/Company/440" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Soyaslan Denizcilik Ltd (Company)">Soyaslan Denizcilik</a> and delivered in 2023, 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> presents an opportunity to acquire a yacht designed for long-range cruising and onboard comfort. She features exterior design and naval architecture developed by her builder, while her interiors were penned by <a data-gid="gid://syiq/Company/6859" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="BAZ Yacht Design (Company)">Baz Yacht Design</a>.<img src="https://photo-assets.superyachttimes.com/photo/354801/image/large-dc122f4a3a04eb796892efa5a009f5e4.png" data-gid="gid://syiq/Photo/354801" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Constructed with a steel hull and GRP superstructure, her exterior emphasises her expedition credentials. Outside, she is defined by an upright bow, wide superstructure and generous walkaround decks well-suited for extended cruising.<img src="https://photo-assets.superyachttimes.com/photo/354799/image/large-4e067fb9a38de0599b583e93285f3168.png" data-gid="gid://syiq/Photo/354799" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: rgb(255, 255, 255);">The <a data-gid="gid://syiq/Yacht/12340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ICE 24.0m (78'9&quot;)Soyaslan Denizcilik Ltd2023">yacht Ice for sale</a> benefits from generous outdoor living areas fitted for alfresco dining, relaxing, and lounging while soaking in panoramic views of the ocean. An onboard tender is also available, allowing guests to explore remote anchorages.<img src="https://photo-assets.superyachttimes.com/photo/354807/image/large-fa4c37488daf7913f4725445eb0de8c1.png" data-gid="gid://syiq/Photo/354807" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Stepping inside, the <a data-gid="gid://syiq/Yacht/12340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ICE 24.0m (78'9&quot;)Soyaslan Denizcilik Ltd2023">yacht Ice for sale</a> features a contemporary interior penned by <a data-gid="gid://syiq/Company/6859" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="BAZ Yacht Design (Company)">Baz Yacht Design</a>, defined by a combination of light oak finishes, white cabinetry and floor-to-ceiling glazing that lets in abundant natural light. Her open-plan layout emphasises her practicality and light, creating a bright atmosphere suited to long voyages.<img src="https://photo-assets.superyachttimes.com/photo/354798/image/large-3c8cccb907f98c044b34afa2ca09241e.png" data-gid="gid://syiq/Photo/354798">With a beam of 7.15-metres and volumes spanning 165 GT, accommodation onboard the yacht for sale is arranged for up to 10 guests across a five-stateroom layout, including a main-deck owner's suite. Dedicated quarters are provided for a crew of three, including her captain.<img src="https://photo-assets.superyachttimes.com/photo/354797/image/large-dbea0c536faebf472526bf8fb32f043e.png" data-gid="gid://syiq/Photo/354797">In terms of performance, the <a data-gid="gid://syiq/Yacht/12340" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ICE 24.0m (78'9&quot;)Soyaslan Denizcilik Ltd2023">yacht Ice for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1483" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cummins Inc. (Company)">Cummins</a> engines, delivering a cruising speed of 10 knots and a top speed of 12 knots. Moreover, she offers a range of approximately 4,000 nautical miles at 10.5 knots, and is equipped with stabilisers for comfort underway and at anchor. <img src="https://photo-assets.superyachttimes.com/photo/354808/image/large-4332370bcabe792bcde6109a1c367bbc.png" data-gid="gid://syiq/Photo/354808">The <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> is currently located in Italy, Imperia. All images provided courtesy of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>.&nbsp;

24m Soyaslan Denizcilik explorer yacht Ice for sale

The 24m Soyaslan Denizcilik explorer yacht Ice is for sale with Fraser.


Italian designer <a data-gid="gid://syiq/Company/5522" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marco Ferrari (Company)">Marco Ferrari</a> has revealed a new 80-metre superyacht concept known as M80, featuring hybrid electric propulsion and an Ice Class 1D hull designed for expeditions into remote and high-latitude waters.<img src="https://photo-assets.superyachttimes.com/photo/395711/image/large-5e2bb926c4e68013000d72b0f1317676.png" data-gid="gid://syiq/Photo/395711" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Constructed entirely in aluminium, M80 has been conceived as a modern explorer yacht that boasts a lightweight hull and superstructure, with a low-profile silhouette and a focus on energy efficiency.<img src="https://photo-assets.superyachttimes.com/photo/395733/image/large-1a9a4714cf0993822813cc29e30e09d9.jpg" data-gid="gid://syiq/Photo/395733">The M80 is designed for owners who seek adventure, spanning from tropical paradises to the icy frontiers of polar and sub-polar regions.<img src="https://photo-assets.superyachttimes.com/photo/395719/image/large-b84e3131fde03314cc27569f8e7f4f80.jpg" data-gid="gid://syiq/Photo/395719">At the heart of her design is a diesel-electric hybrid propulsion system, elevated by twin Azipod contra-rotating thrusters and dynamic positioning capability. The yacht has been developed to maximise efficiency while reducing emissions and onboard noise levels.<img src="https://photo-assets.superyachttimes.com/photo/395727/image/large-a4837ca59b87942deeb203ec6ef20a03.jpg" data-gid="gid://syiq/Photo/395727" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; background-color: rgb(255, 255, 255);">Three operating modes have been proposed. In Zero Mode or also known as Silent Mode, M80 would operate fully on electric propulsion, delivering vibration-free navigation with zero local emissions for up to eight hours, which would enable access to environmentally protected areas.In Eco-Hybrid Mode, diesel generators operate at optimal efficiency while electric motors provide propulsion, reducing fuel consumption by an estimated 25 to 30 percent. Meanwhile, Boost Mode combines diesel and electric power to maximise performance when required.<img src="https://photo-assets.superyachttimes.com/photo/395731/image/large-33077a8f7a2790cde018026b550701fa.jpg" data-gid="gid://syiq/Photo/395731">Among its unique features, the M80 boasts an underwater “Nemo Lounge, giving guests a view into the ocean’s depths. In addition, an extensive array of tenders and toys supports exploration and adventure, including two 11-metre tenders, Jet Skis, aerial UAVs and remotely operated underwater vehicles for subaquatic discovery.<img src="https://photo-assets.superyachttimes.com/photo/395710/image/large-a74c0ecaa984d5a5b600f8054b710e24.png" data-gid="gid://syiq/Photo/395710">The concept also incorporates a range of sustainability-focused technologies, including glass elements with integrated photovoltaics, advanced heat‑recovery systems and compatibility with HVO biofuel, which the designers say can cut emissions by up to 90 percent compared with conventional marine diesel.<img src="https://photo-assets.superyachttimes.com/photo/395728/image/large-811c3e2ad5d43adb8b3999943f2c3651.jpg" data-gid="gid://syiq/Photo/395728">Outside, M80 is characterised by angular lines, tiered deck arrangements and a continuous band of dark glazing that stretches through most of her superstructure. Renderings depict the yacht operating in both tropical regions and polar environments, which reflect the designer’s emphasis on her versatility and global cruising capability.<img src="https://photo-assets.superyachttimes.com/photo/395732/image/large-7195234a8e71f1b3e271ecf59b638cc5.jpg" data-gid="gid://syiq/Photo/395732">In terms of outdoor living, her amenities include an aft infinity pool overlooking the stern and a forward Jacuzzi wrapped around by sunpads. A touch-and-go helipad located on the bow supports rapid transfers of guests between destinations, while the yacht's relatively shallow 3.75-metre draught allows access to shallow cruising grounds.<img src="https://photo-assets.superyachttimes.com/photo/395718/image/large-aebceaa67499330e5bfd597898e7c678.jpg" data-gid="gid://syiq/Photo/395718">The owner’s private full-beam apartment is the highlight of M80’s guest accommodations. The suite includes a study, library, walk-in wardrobe, en-suite bathroom and a dedicated outdoor balcony offering direct access to private deck space. With a beam of 13.5-metres, the yacht is arranged to accommodate up to 14 guests across seven staterooms, supported by a crew of 22 alongside her captain.<img src="https://photo-assets.superyachttimes.com/photo/395709/image/large-1077afc5c96b3929c70ee9374bc96865.png" data-gid="gid://syiq/Photo/395709">M80’s guest areas are intended to maximise connections with the surrounding sea. Her full-height glazing that introduces plenty of natural light, while sliding glass doors seamlessly connect her main saloon and dining spaces with the exterior decks.<img src="https://photo-assets.superyachttimes.com/photo/395713/image/large-8b0b4a1791ec3fd064de018dfdd57445.jpg" data-gid="gid://syiq/Photo/395713">In terms of performance, M80 is projected to reach a top speed of 26 knots and deliver a cruising range of more than 5,500 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/395735/image/large-17f7211a0f105b1ad2a4a7ebd3ec8cf9.jpg" data-gid="gid://syiq/Photo/395735" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">

M80: Marco Ferrari unveils 80m explorer concept 

Designer Marco Ferrari has unveiled the 80-metre M80 explorer yacht concept, featuring hybrid propulsion and Ice Class capability.

M80: New 80m hybrid explorer yacht concept with underwater ‘nemo lounge’

<a data-gid="gid://syiq/Company/8466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lagaria (Company)">Lagaria</a> has unveiled the 90-metre motor yacht concept Platea. Developed by Monaco-based yacht design and architecture studio <a data-gid="gid://syiq/Company/8466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lagaria (Company)">Lagaria</a>, Platea reconfigures the traditional yacht layout by minimising interior volume and placing emphasis on expansive exterior living spaces.<img src="https://photo-assets.superyachttimes.com/photo/395696/image/large-94a0a1cd747c02edba683d1e932fefe0.png" data-gid="gid://syiq/Photo/395696">Unlike most yachts, which prioritise enclosed volume, the design takes a different approach. &nbsp;Platea’s design compresses the indoor programme to free up the deck. This creates a floating beach club of unusual generosity, where the main deck becomes one continuous social landscape. In this area, an open-plan bar, lounge and dining space extends directly onto a large sheltered terrace complete with an oversized pool, Jacuzzi and full-service bar.<img src="https://photo-assets.superyachttimes.com/photo/395703/image/large-b3de0009761cfa44415a389b655c992e.jpg" data-gid="gid://syiq/Photo/395703">In terms of accommodation, guest staterooms are positioned on the lower deck. This decision reflects the designers’ intention to prioritise communal spaces over private volume. Since staterooms are used primarily for sleeping and bathing, this allows prime deck areas to be dedicated to social and experiential use.<img src="https://photo-assets.superyachttimes.com/photo/395702/image/large-c922893b880df550ce74538eaf7ab22a.jpg" data-gid="gid://syiq/Photo/395702">Moreover, the wheelhouse is located aft of midship, inspired by Scandinavian well-boat design. This opens up the central section of the yacht, creating an uninterrupted social zone, while still maintaining full operational visibility through wing stations. Platea’s owner also benefits from a private apartment with its own balcony. The stateroom is positioned aft for enhanced privacy and separation from guest areas.<img src="https://photo-assets.superyachttimes.com/photo/395697/image/large-46e1abf3cbcf2a55d9af45504a59ea42.png" data-gid="gid://syiq/Photo/395697">“These are not purely aesthetic decisions, but part of a broader commercial thesis,” said the design studio. “At approximately 20 percent lower gross tonnage than comparable 90-metre charter yachts, Platea is designed around the idea that experiential quality, not enclosed volume - is what ultimately drives charter demand.” By prioritising exterior living spaces, the design reinforces its focus on experiential value over internal volume.<img src="https://photo-assets.superyachttimes.com/photo/395695/image/large-940d9b0039e45cbf9fcf3287eeac9d05.png" data-gid="gid://syiq/Photo/395695">“Platea distills what defines <a data-gid="gid://syiq/Company/8466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lagaria (Company)">Lagaria</a> at its best: original thinking, a rigorous design logic, and a deep curiosity about the relationship between space and experience - pursued with respect for the sea and the operational realities that come with it,” the studio concluded.

Platea unveils Lagaria yacht concept

Lagaria has unveiled the 90-metre motor yacht concept Platea.

Platea: The 90m Lagaria yacht designed around outdoor living

<a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a> has completed an €8.5 million redevelopment of <a data-gid="gid://syiq/Company/380" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gouvia Marina (Company)">Gouvia Marina</a> in Corfu, Greece. According to the company, this will significantly expand its capacity while introducing advanced digital infrastructure and sustainability measures aimed at elevating the overall yachting experience in the Eastern Mediterranean.<img src="https://photo-assets.superyachttimes.com/photo/395689/image/large-38e449166c2a07114a44956609a710fc.jpg" data-gid="gid://syiq/Photo/395689">Strategically located between the Adriatic and Mediterranean seas, <a data-gid="gid://syiq/Company/380" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gouvia Marina (Company)">Gouvia Marina</a> is the largest marina in Corfu. The upgrade adds 104 new berths for yachts up to 50 metres, alongside expanded onshore storage, improved accessibility and upgraded visitor facilities. <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a> added that the redevelopment is part of its long-term strategy to enhance operational capacity, while strengthening the marina’s position as a gateway for Mediterranean cruising.<a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a> Greece Regional Director Ioannis Koutsodontis said: “The upgrade of Gouvia Marina goes far beyond infrastructure. It is a complete transformation that combines construction excellence, technological innovation and sustainability, while creating a premium destination that is open, vibrant and closely connected to the local community of Corfu.”A major component of the project is its digital transformation. Smart Pedestals have been installed at every berth, allowing remote monitoring and management of electricity and water consumption through <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin’s</a> mobile application. The marina’s digital infrastructure has also been fully upgraded, with enhanced Wi-Fi coverage across all areas to ensure seamless connectivity for visitors and crew.<img src="https://photo-assets.superyachttimes.com/photo/395692/image/large-305427b9f29343bcc3d15c050094d5c4.jpg" data-gid="gid://syiq/Photo/395692">Sustainability and ESG principles have been embedded throughout the redevelopment. The marina now features high-pressure water filtration systems, low-energy LED lighting, electric vehicle charging stations, enhanced fire detection systems and improved accessibility, alongside extensive green landscaping designed to integrate the site more closely with the surrounding community.A key milestone of the project is the installation of <a data-gid="gid://syiq/Company/380" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gouvia Marina (Company)">Gouvia Marina’s</a> first on-site solar power system and <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin’s</a> first in Greece. The 100 kilowatt-peak photovoltaic installation is expected to generate around 167 megawatt-hour of clean energy annually, covering approximately 20 per cent of the marina’s electricity needs.<a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a> Greece Head of Sustainability and Health and Safety Korina Kostakaki commented: “<a data-gid="gid://syiq/Company/380" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gouvia Marina (Company)">Gouvia Marina’s</a> new solar installation reflects <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin’s</a> continued progress on its decarbonisation pathway and marks our first Greek marina to generate renewable energy on site. The project complements the five megawatts of solar capacity already deployed across our marinas in Turkey, Croatia and Italy, supporting our SBTi commitment and our ambition to reduce emissions by 42 per cent by 2030.”The redevelopment was supported through the National Recovery and Resilience Plan ‘Greece 2.0’, funded by the European Union – NextGenerationEU. <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a> concluded that the project represents a wider contribution to the modernisation of Greece’s nautical tourism sector, supporting sustainable investment and long-term competitiveness.Photos provided courtesy of <a data-gid="gid://syiq/Company/4262" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="D-Marin (Company)">D-Marin</a>.

D-Marin Gouvia Marina upgrade

D-Marin has completed an €8.5 million redevelopment of Gouvia Marina in Corfu, Greece. 


D-Marin completes €8.5 million Gouvia Marina upgrade in Corfu

The 26.7-metre motor yacht <a data-gid="gid://syiq/Yacht/13610" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Zone26.7m (87'7&quot;)Sanlorenzo2024">Blue Zone</a> has been listed for sale with of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>. The <a class="outbound" href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> forms part of Sanlorenzo’s SX88 series, featuring a design focused on open living, a strong connection to the water, and effortless movement between decks.<img src="https://photo-assets.superyachttimes.com/photo/367319/image/large-a2922d0b2d194410ad91e0143eb58d6a.jpg" data-gid="gid://syiq/Photo/367319" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Delivered by <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> in 2024, the <a class="outbound" href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> is built with a GRP hull and superstructure. She features exterior styling 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 (Mauro Micheli)</a>, while 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>. Her interior was crafted by the <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>.<img src="https://photo-assets.superyachttimes.com/photo/367335/image/large-6715c2df657572daebc1f97fff537974.jpg" data-gid="gid://syiq/Photo/367335" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"><img src="https://photo-assets.superyachttimes.com/photo/367329/image/large-aa3eb3e0329c3a60eb4d7d447703e78e.jpg" data-gid="gid://syiq/Photo/367329">Outside, the <a class="outbound" 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 angular lines, wraparound glazing and a plumb bow. Meanwhile, her oversized stern platform and beach club area reflect the crossover design philosophy that has become synonymous with the SX range.<img src="https://photo-assets.superyachttimes.com/photo/367330/image/large-0f6d097483d9284017f7cd847235aae3.jpg" data-gid="gid://syiq/Photo/367330">One of the yacht's standout features is her flybridge, which is fitted with a retractable roof and opening side windows, allowing the space to transition between an enclosed skylounge and an open-air deck for entertainment.<img src="https://photo-assets.superyachttimes.com/photo/367332/image/large-8e3ba00842da27fa7ab3067354d0b3e4.jpg" data-gid="gid://syiq/Photo/367332">Stepping inside, <a data-gid="gid://syiq/Yacht/13610" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Zone26.7m (87'7&quot;)Sanlorenzo2024">Blue Zone</a>’s full custom <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> interior embodies a contemporary aesthetic defined by light oak finishes, soft neutral tones and elegant stone detailing. The yacht’s panoramic glazing lets in abundant natural light throughout her living spaces. <img src="https://photo-assets.superyachttimes.com/photo/367348/image/large-d7729c1523fc5401ee902a85ae79a2f4.jpg" data-gid="gid://syiq/Photo/367348">With a beam of 7.21-metres and an interior volume of 115 GT, &nbsp;accommodation onboard the <a data-gid="gid://syiq/Yacht/13610" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Zone26.7m (87'7&quot;)Sanlorenzo2024">yacht Blue Zone for sale</a> is arranged for up to eight guests across four staterooms, including a full-beam owner's suite. Dedicated quarters are provided for a crew of two, including her captain. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/367345/image/large-2939e62a3f425089aac718638750fc44.jpg" data-gid="gid://syiq/Photo/367345">In terms of performance, she is powered by triple <a data-gid="gid://syiq/Company/5350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Volvo Penta (Company)">Volvo Penta</a> engines, delivering a cruising speed of 18 knots and a top speed of 23 knots. Further highlights include electric zero-speed stabilisers, a premium <a data-gid="gid://syiq/Company/4062" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Raymarine UK Ltd (Company)">Raymarine</a> Diamond navigation package and an upgraded secondary 28 kilowatt generator.<img src="https://photo-assets.superyachttimes.com/photo/284607/image/large-bb359b0b3d7c19e5a4e4fafa895c6008.jpg" data-gid="gid://syiq/Photo/284607"><img src="https://photo-assets.superyachttimes.com/photo/367321/image/large-ba87eaf4c8a769a142981c8b6d7b11ec.jpg" data-gid="gid://syiq/Photo/367321">

27m Sanlorenzo yacht Blue Zone for sale

The 26.7m Sanlorenzo motor yacht Blue Zone, from the SX88 series, has been listed for sale with Northrop & Johnson.

As the yachting industry begins to take alternative fuels seriously, Heikki Bergman, CEO and design manager of start-up company <a data-gid="gid://syiq/Company/8768" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Propulsion House (Company)">Propulsion House</a>, is several steps ahead. His company has developed a compact, modular methanol-electric propulsion system for yachts up to 70 metres that challenges the big marine technology brands.<img src="https://photo-assets.superyachttimes.com/photo/390298/image/large-6f876876617a86ea1297b4c7d5007042.jpg" data-gid="gid://syiq/Photo/390298">Drawing on more than two decades of experience in marine electrical propulsion, Heikki Bergman brings an engineering-driven approach to hybrid systems, with a sharp focus on real-world viability, space efficiency, and the practical constraints of small and mid-size vessels.“There’s good will in the market,” he says, “but not many customers or shipyards truly understand what they’re buying when it comes to electric or alternative-fuel systems. That’s where things often fall apart.”Now, Bergman and his team have unveiled a hybrid system he claims is capable of delivering over 5,000 nautical miles of range using methanol reformers, hydrogen fuel cells, batteries, and lightweight electric pod propulsion – all within the general arrangement footprint of an existing 45-metre, steel-hulled explorer hull designed by Frank Neubelt.<img src="https://photo-assets.superyachttimes.com/photo/390299/image/large-087f0ae7e1a2668b35e761bf7c22a0db.jpg" data-gid="gid://syiq/Photo/390299">Scaling downBergman’s journey began at <a data-gid="gid://syiq/Company/6143" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ABB Group (Company)">ABB</a>, the Finnish leader in electrification and automation technology, where he worked on large commercial projects across Europe, particularly in the passenger vessel segment. In 2015, he identified a knowledge gap in the smaller vessel markets: while electrical and hybrid systems were becoming standard on larger ships, few people understood how to scale them down effectively for smaller yachts.&nbsp;"The big players don’t cater well to anything below 1 megawatt per propeller," he explains. "They come with massive project organisations and million-euro tickets, which just doesn’t work for yachts below 70 metres. We start from seven horsepower, up to 600 kilowatt."He founded <a data-gid="gid://syiq/Company/8768" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Propulsion House (Company)">Propulsion House</a> in 2017 as a consultancy, but it quickly evolved into a product development company. The firm now works across multiple sectors – including oil and gas – but yachting remains a core focus. The team doubled in size last year and is expected to grow again in 2026.<img src="https://photo-assets.superyachttimes.com/photo/390300/image/large-701d98e76c4b8100d4437b449c0de308.jpg" data-gid="gid://syiq/Photo/390300">Time to RethinkThe in-house propulsion system is a methanol-electric hybrid setup using the existing 45-metre explorer hull as a baseline that began with the team asking a simple but critical question: could a vessel of this size achieve 5,000 nautical miles of range using alternative fuels, without compromising usable interior volume? The answer: Yes, by completely rethinking how propulsion integrates with vessel design.At the heart of the system is the trademarked DeeCee Microgrid – a methanol-fuel-cell architecture designed for endurance, redundancy and modular installation. The system includes: six methanol reformers, which convert a methanol/water mixture into hydrogen and CO₂; six 200 kilowatt hydrogen fuel cells, fed by the reformers to generate electricity; and two 600 kilowatt battery banks, offering load balancing, peak shaving, and full-electric operation in port or during silent cruising.<img src="https://photo-assets.superyachttimes.com/photo/390301/image/large-09f5baddc586600638d912e42f93dd0f.png" data-gid="gid://syiq/Photo/390301">All the system components – fuel cells, batteries, converters – are already commercially available. Combined, they enable propulsion via two 600 kilowatt electric pods, with no shaft lines or central switchboards. Instead, the vessel uses a distributed DC network through localised electrical control units – each managing its zone independently and able to switch within milliseconds in case of blackout.“We’ve eliminated the need for a switchboard room altogether,” says Bergman. “This frees up interior volume, reduces cabling, and improves safety and redundancy.”The reforming process produces a controlled volume of CO₂, which the system can capture and store onboard for recycling. The volume of this captured CO₂ is significantly lower than from internal combustion engines – about 40-60 percent less than a diesel generator. Moreover, when taking into production methods of green methanol and e-methanol, some of which actually consume CO2 rather than release it into the air, the overall CO2 emission reduction is even higher.<img src="https://photo-assets.superyachttimes.com/photo/390305/image/large-8b7413485de1c405fa96aac8b215fe00.jpg" data-gid="gid://syiq/Photo/390305">Small, Light &amp; SmartPerhaps the most radical part of the concept is the proprietary Pulling-e Propulsion pod design. It resembles a torpedo: long, narrow, and hollow, with a stationary internal body, an outer rotating propeller shell and a 2-bladed propeller offering a good balance of efficiency and drag. Containing a permanent magnet synchronous motor and scalable from 7-600 kilowatt per propeller, there is no shaft, no gearbox, and minimal mechanical complexity. The pod can be steerable for shallow water use, or fixed with a rudder integrated into the strut that connects it to the hull.&nbsp;The unit is designed to be modular and installation-agnostic. It can be fixed horizontally to the hull, retrofitted into an old rudder socket, or even fitted with lift-enhancing struts to improve hydrodynamic flow. Unlike traditional azimuthing thrusters, which rotate 360 degrees, the pods limit steering angles but compensates via bi-directional rotation. The result is full-vector thrust control, achieved with a simpler, lighter system.<img src="https://photo-assets.superyachttimes.com/photo/390304/image/large-1e7154665ec390b5c89b7ed5b892f2e1.jpg" data-gid="gid://syiq/Photo/390304">This method also benefits noise reduction. The methanol-electric propulsion is already quiet, so the remaining main source of noise is from propeller-generated pressure pulses hitting the hull. The propellers, positioned far aft as far outboard as possible away from the hull, significantly reduce this underwater radiated noise—a growing concern for marine ecosystems.The concept isn’t just theoretical. Cambridge University’s Energy boat challenge team recognised the potential and <a data-gid="gid://syiq/Company/8768" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Propulsion House (Company)">Propulsion House</a> has been working with Marin’s top designers on the propeller optimisation, using a 15-kilowatt test unit to refine efficiency. The propellers were optimised using PropArt and PROCAL computations. A speed-power prediction based on the resistance was provided, and additional analysis was carried out in terms of steering forces and cavitation behaviour.<img src="https://photo-assets.superyachttimes.com/photo/390303/image/large-fe5f36bdbe69c88da2bda09491ac7329.png" data-gid="gid://syiq/Photo/390303">“We achieved 89 percent propeller efficiency – among the highest on the market,” says Bergman. “And when we scale up to the size used on yachts, efficiency actually increases due to the larger central hole in the propeller. And that’s just the first iteration available.”The system is also suited for retrofits. In theory at least, shaft lines could be removed entirely and the new propulsion unit installed into the existing rudder sockets, reducing the need for invasive hull perforations. The structural load is carried in a way similar to rudder mechanics, with reinforcement achieved by increasing material thickness inside the torpedo's cooling pipe. <img src="https://photo-assets.superyachttimes.com/photo/390302/image/large-279388f3d090554f024470e1514e9ec4.png" data-gid="gid://syiq/Photo/390302">A New Design OrderPerhaps most radical is the company’s approach to vessel design itself. “We start from the underwater section,” Bergman explains. “First the hull, then the propeller location, and then everything else. Not the other way around.”This inverted design process contrasts with the traditional method of selecting off-the-shelf propulsion systems first, which often forces compromises in hull shape, hydrodynamics and interior layout.With partners already on board for further testing in 2026, and interest growing among shipyards and owners, <a data-gid="gid://syiq/Company/8768" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Propulsion House (Company)">Propulsion House</a> is positioning itself not just as a technology provider, but as a strategic design partner. By simplifying systems, reducing space usage, offering real redundancy, and embracing cleaner fuels, Bergman believes a better class of hybrid yacht is not only possible – it’s ready to build. “There’s no fantasy here,” says Bergman. “This could be built tomorrow.”&nbsp;

Heikki Bergman Propulsion House CEO Interview

Propulsion House CEO sites down with SYT to discuss the compact, modular methanol-electric propulsion system for yachts.