In February, when the news broke that the Southampton-based Oyster Yachts was facing liquidation, the reaction was one of shock throughout the industry. After ending 2017 with an £80 million order book and showcasing their newest model, the 745, only a month before at boot Düsseldorf, the future for Oyster looked bright. Enter administration they did, however, and around 380 workers were made redundant after the Dutch backers, HTP Investments, who bought the company back in 2012, stopped supporting Oyster financially.<img src="/uploads/store/photo/35374/image/large-9019b07be87f1dd8cf955cf03eb1b92d.jpg" data-gid="gid://syiq/Photo/35374">No one was more shocked, however, about the sudden nosedive in Oyster’s fortunes than Richard Hadida. The British gaming software entrepreneur, who is the co-founder and Creative Director of Evolution Gaming, had chartered various Oyster sailing yachts, including the Oyster 885 <a data-gid="gid://syiq/Yacht/6352" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lush27.08m (88'10&quot;)">Lush</a>, which belongs to his close friend, the former motorsports boss, <a data-gid="gid://syiq/Article/46963" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Insight: Eddie Jordan’s 30 years of Sunseeker superyachts (2017-03-08 13:00:00 +0100)">Eddie Jordan</a>. After hearing the news of Oyster’s troubles, Hadida decided to do something about it, hiring a crack team from PwC and outbidding 14 others to become the brand’s new owner.&nbsp;Fast forward to today and Hadida now owns Oyster’s assets, tooling, IP, subsidiary brokerage, events and aftermarket companies, and is getting down to business with his new management team. We sat down with Richard Hadida to learn what the future holds for this iconic British brand.What made you decide to buy Oyster Yachts?I started chartering Oysters a few years ago and I fell in love with them. When I heard the news that Oyster was in administration I was really shocked. Eddie and I had been talking to the then CEO, David Tydeman, only a few months before about building an Oyster 118, and at no point did I ever think there was any danger for that business. Once the word was out, I thought, why don’t I do this? Originally, Eddie and I were planning to buy it together but he decided it wasn’t for him, so I went for it on my own. I thought if there was ever a time in my life to do something like this, it’s now. With PwC I had access to the turnaround team who were instrumental in taking Sunseeker from a £30 million loss to a £15 million profit: they were chomping at the bit to get the business. With this team around me, I knew I could really do this. <img src="/uploads/store/photo/16351/image/large-fccbf2f717ab8b8cc7a50369a30ddc6a.JPG" data-gid="gid://syiq/Photo/16351">Eddie Jordan's&nbsp;Oyster 885, Lush I was so exhausted after I won the bid that it took a couple of days to sink in, and then I thought, “oh my god, I’ve bought Oyster, what have I done?” We are very excited but it’s going to be a huge challenge. Becky Bridgen, my new CFO, has been working 18 hours a day for the last four weeks trying to get to the bottom of the numbers. Turning this around is going to be huge but I believe I have what is required to do it. What will you bring to Oyster?Part of the problem Oyster had was that it was owned and managed remotely, rather than by a founder figure. I think businesses like this do better if the guy who puts the money in also runs the business, so it’s a heart thing, not a mind thing. I have never built a boat in my life, but I have done lots of sailing on Oysters, and when I am sailing I always think about what I can improve about the boat. I bring creativity and understanding about what the customer wants at the end of the day. I also have a fantastic team, including Rob Humphreys who has designed pretty much every Oyster for the last 22 years, Kim Stubbs as my COO, who turned around Sunseeker, and Paul Adamson as CCO, who is a sailor by nature. Surround me with that team and the venture quickly becomes very credible.<img src="/uploads/store/photo/35375/image/large-e1cf9cf6e5b8727ed35f3339d4d3a655.jpeg" data-gid="gid://syiq/Photo/35375"> What are the top priorities for the new team?When Oyster went into administration, the moulding company that made the hulls also went into liquidation, so we’re currently looking into this issue because we can’t build boats at the moment. Plus, all the staff were made redundant from old Oyster, and so new Oyster needs to employ new people to build the boats. Obviously, too, there were 26 boats in various stages of build, from zero up to 95% and all of these people have paid money that hasn’t gone into these boats but has disappeared elsewhere into old Oyster. Some of these people are well over £1 million down, so we need to sort this out. How will you reach an agreement with these clients going forward?&nbsp;When I bought the company I didn’t buy the contracts, so we have sat down with each one of these people and had heartfelt, difficult conversations with them to work out how we’re going to build their boats over the last two weeks. A couple of people have said that they don’t want to have their Oyster builds any more, but we have created new contracts with nearly all of them.&nbsp;How will you improve Oyster boats in the future?&nbsp;Little has changed in the way Oysters have been built for the last 40 years. That has created a thousand fantastic boats, however, modern technology has moved on and we need to follow suit. We are looking at increasing efficiency at every point in the build process. It currently takes 60,000 man hours to build an 885. If we can get that down and get that reflected in the boat’s price, everyone benefits. We are also hiring a purchasing manager to get better deals with our suppliers. The bottom line is this: Oyster went out of business because it didn’t make enough money from the boats it was selling. If the margin is wrong, there is no point building the boats.&nbsp;<img src="/uploads/store/photo/24481/image/large-5c9d347a884625610e84d394b0572c34.jpg" data-gid="gid://syiq/Photo/24481">Do you intend to go bigger than the Oyster 118?We are definitely planning to rationalise the range as a whole because Oyster changed its models a lot and it became confusing for the customers, but the 118 is a fantastic superyacht and I don’t think we need to go any larger. If people want to build larger boats they can go bespoke.The first 118 superyacht is scheduled to launch this year. How is this going?We have very recently come to a decision that we would like to find a partner to build the Oyster 118 for us, and are currently looking to team up with a British shipyard which is used to building boats of this size. Going forward, Oyster is going to focus our efforts on what we do best: 50-90 foot, beautiful bluewater boats. How can we make sailing yachts appealing to younger owners?If we half the price of the entry-level boats, I am convinced that the market will be huge and we can enable people to join the Oyster family earlier in life. Rob Humphreys is currently working on a design for a ‘Baby Oyster’ which will have all the upsides of its larger Oyster sisters - a swim deck that comes down at the back, beautiful seascape windows and so on - but on a smaller scale below 50’. We are looking at designing and building an Oyster 445 which I would like to come in at around the half a million price point. This will open up Oyster to a huge amount of people and hopefully younger families too.<img src="/uploads/store/photo/30932/image/large-1b3299fe519c26e7fb1d63eb02aa740a.jpg" data-gid="gid://syiq/Photo/30932">This article was featured in the latest edition of the SuperYacht Times newspaper - the sailing issue.&nbsp;<a href="http://www.superyachtcompany.com/newspaper/the-superyacht-times-subscription" rel="noopener noreferrer" target="_blank" title="">Subscribe now</a>&nbsp;to receive your copy straight to your door and never miss another issue!<a href="http://www.superyachtcompany.com/newspaper/the-superyacht-times-subscription" rel="noopener noreferrer" target="_blank" title=""><img src="/uploads/store/photo/23641/image/large-5807815e2703721ae6618b7a54d59cdb.png" data-gid="gid://syiq/Photo/23641"></a>

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Richard Hadida opens up on what's next for Oyster Yachts

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

IGY Marinas partners with NEOM marina Sindalah in Saudi Arabia

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

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

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

Northrop & Johnson appoints new Business Development Director

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

George Whitehouse joins Northrop & Johnson as Business Development Director

Netherlands-based marine electrical companies <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> and <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a> have joined forces to provide further services to the maritime community. From 1 June 2023, <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen</a> will officially fall under the umbrella of the <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> Group. <img src="https://photo-assets.superyachttimes.com/photo/272578/image/large-9ac400099a30d4992090ad355ee17e18.jpg" data-gid="gid://syiq/Photo/272578">The merger will bring the two companies together for the delivery of advanced electrical system integration systems for all types of yachts above 30-metres. The shared vision between <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> and <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a> allows the companies to expand on their portfolios while meeting the needs of those within the industry.&nbsp;"Our two families are uniting to deliver the best solutions for the yachting industry,” explained Gert Bravenboer, CEO at <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a>. “Fully complementary to each other, we are uniquely positioned to create value for existing and new customers. Together, we will be the go-to technology partner on all aspects of automation, electrification and digitalisation. From consulting, engineering and installation to commissioning, service and maintenance, it's a perfect fit."<img src="https://photo-assets.superyachttimes.com/photo/272577/image/large-150d4282ba9b14d3509de682379e56c2.jpg" data-gid="gid://syiq/Photo/272577">The merger will represent a new chapter in history for both <a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> and <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a>. This will benefit not only both companies, but also the employees, customers and shareholders. This will allow them to provide even more innovative solutions and expand the complexity of their projects.“<a data-gid="gid://syiq/Company/317" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alewijnse (Company)">Alewijnse</a> is the best choice because the chemistry between the companies means we speak the same language and complement each other. The synergy is great because we stop where Alewijnse starts. Our combined portfolio will broaden all at once to cover yachts from 30 right up to 130 metres. Together, we form a one-stop-shop for every kind of yacht. That way we can completely unburden our customers," added Pedro Kappen, owner of <a data-gid="gid://syiq/Company/7180" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tijssen Elektro (Company)">Tijssen Elektro</a>.<img src="https://photo-assets.superyachttimes.com/photo/272579/image/large-1444065a001052c048600aeb12470fcf.jpg" data-gid="gid://syiq/Photo/272579">

Electrical services companies Alewijnse and Tijssen Elektro merge

Alewijnse and Tijssen Elektro have joined forces to provide further services to the maritime community.

Alewijnse and Tijssen Elektro merge to strengthen yacht electrical services

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

Karma Yachting brokerage firm founded

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

New yacht brokerage firm Karma Yachting has been launched

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

The Boat Works welcome 90-tonne travel lift

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

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

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

Rivergate Marina and Shipyard for sale

Rivergate Marina and Shipyard seeks new owner. 

Rivergate Marina and Shipyard seeks new owner

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

Ocean Independence partner Mario Veloná passes away

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

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

At the shipyard with MB92 La Ciotat

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

How to build a shiplift with MB92 La Ciotat

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

Damen Yachting and Blue World Technologies partnership

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

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

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

Ferretti Group reports €1.5 billion order backlog for Q1 2023 

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

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

The fifth <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> S501 superyacht <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> has been delivered to her owner from the <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> shipyard in Genoa, Italy. The owner signed the contract for the 49.99-metre motor yacht in July 2021 and appointed <a data-gid="gid://syiq/Company/4547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TWW Yachts (Company)">TWW Yachts</a> as project managers. <img src="https://photo-assets.superyachttimes.com/photo/273069/image/large-a12ca1a1c66a14fdfbc052f612f2c7e0.jpg" data-gid="gid://syiq/Photo/273069"><a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> has been heavily customised to meet the needs of her owner and features exterior design by <a data-gid="gid://syiq/Company/586" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Francesco Paszkowski (Company)">Francesco Paszkowski</a>, with naval architecture from <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa Yachts</a> and <a data-gid="gid://syiq/Company/2051" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NAMES by Francesco Rogantin (Company)">NAMES by Francesco Rogantin</a>.<img src="https://photo-assets.superyachttimes.com/photo/273125/image/large-33e9dd90dffd38d270d3a80ba174267e.jpg" data-gid="gid://syiq/Photo/273125"><img src="https://photo-assets.superyachttimes.com/photo/273127/image/large-b873bd699dc8e29ff30d72251ec8f8bc.jpg" data-gid="gid://syiq/Photo/273127"><img src="https://photo-assets.superyachttimes.com/photo/273123/image/large-7c7177a824af184bae282cd2c4cb8500.jpg" data-gid="gid://syiq/Photo/273123"><img src="https://photo-assets.superyachttimes.com/photo/273128/image/large-d8121b7e0d35fe32d8670447fa361645.jpg" data-gid="gid://syiq/Photo/273128"><a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> features a luxurious and sophisticated interior design from Giorgio Cassetta of <a data-gid="gid://syiq/Company/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cassetta Yacht Designers (Company)">Cassetta Yacht Designers</a>, who opted for a warm and inviting look with the use of rich woods and veined marbles. She also benefits from a natural flow of light from her enlarged windows on the main deck.<img src="https://photo-assets.superyachttimes.com/photo/273116/image/large-98641e267c64e70380a581bad326e263.jpg" data-gid="gid://syiq/Photo/273116"><img src="https://photo-assets.superyachttimes.com/photo/273112/image/large-68302f8da60a1701566dd50c81d50446.jpg" data-gid="gid://syiq/Photo/273112"><img src="https://photo-assets.superyachttimes.com/photo/273119/image/large-bf23e5d95600f4bb9f424858a9387afa.jpg" data-gid="gid://syiq/Photo/273119"><img src="https://photo-assets.superyachttimes.com/photo/273114/image/large-572241906734cd309ac1e02869ace7de.jpg" data-gid="gid://syiq/Photo/273114"><img src="https://photo-assets.superyachttimes.com/photo/273118/image/large-a08cad7fd24a287ba9559a600b92c994.jpg" data-gid="gid://syiq/Photo/273118">Accommodation onboard <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> includes six suites for up to 12 guests, with two customised suites on the main deck. <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> is also able to accommodate a crew of nine, to ensure a high level of comfort and service for guests.<img src="https://photo-assets.superyachttimes.com/photo/273078/image/large-8e9af0a457ac173bfa7c96c5a9f0716d.jpg" data-gid="gid://syiq/Photo/273078"><img src="https://photo-assets.superyachttimes.com/photo/273095/image/large-e8a1d3c5ff8a49096f1279e543139e1d.jpg" data-gid="gid://syiq/Photo/273095"><img src="https://photo-assets.superyachttimes.com/photo/273105/image/large-9483f1afe7fba34e9a340f4dc4c12687.jpg" data-gid="gid://syiq/Photo/273105">Glass bulwarks and fold-out balconies help to bridge the gap between <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a>’s indoor and outdoor spaces, and her owner also gave great attention to her exterior decks. A key element in her design is her alfresco living capabilities, with a large Jacuzzi on her flybridge, alongside seating and a pool on her foredeck.<img src="https://photo-assets.superyachttimes.com/photo/273071/image/large-999dd81b676837aee863f69b78000c3c.jpg" data-gid="gid://syiq/Photo/273071"> <img src="https://photo-assets.superyachttimes.com/photo/273081/image/large-77753f90a22e13a82f4037a13dc92ca6.jpg" data-gid="gid://syiq/Photo/273081"><img src="https://photo-assets.superyachttimes.com/photo/273102/image/large-79635cb5681eff8b55f438fe87bc3e66.jpg" data-gid="gid://syiq/Photo/273102"><img src="https://photo-assets.superyachttimes.com/photo/273101/image/large-4cd960b923f77deb717f4bbf8dc7997a.jpg" data-gid="gid://syiq/Photo/273101">The owner of <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> opted for a spectacular outdoor home cinema screen, which includes a high-luminosity screen located at the front of the swimming pool lounge on the foredeck. <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> is also fitted with a top-of-the-range sound system designed by the award-winning French/British brand Focal &amp; Naim throughout the yacht.<img src="https://photo-assets.superyachttimes.com/photo/273104/image/large-019f432165595477097e6f80d8809960.jpg" data-gid="gid://syiq/Photo/273104"><img src="https://photo-assets.superyachttimes.com/photo/273084/image/large-c4c6ac708fc1a2c7059807b457dd5aff.jpg" data-gid="gid://syiq/Photo/273084"><img src="https://photo-assets.superyachttimes.com/photo/273109/image/large-97ae7546751fbacb3de2891824410b9d.jpg" data-gid="gid://syiq/Photo/273109">&nbsp;“Our usual flexibility in satisfying customer requests is evident in the customisations made to Grey, such as the installation of a swimming pool in the bow, and the fantastic and never seen before cinema/sound system fitted just in front of the pool,” explained <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> sales and marketing manager Giuseppe Mazza.<img src="https://photo-assets.superyachttimes.com/photo/273083/image/large-88b6678a2f3c2babfe5ee10ee6388670.jpg" data-gid="gid://syiq/Photo/273083"><img src="https://photo-assets.superyachttimes.com/photo/273085/image/large-65b561b7c30f3a23cb188258d295feab.jpg" data-gid="gid://syiq/Photo/273085">&nbsp;In terms of performance, <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> is equipped with a conventional propulsion system of twin <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> engines, which provide her with a top speed of 18 knots. <a data-gid="gid://syiq/Yacht/10624" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grey49.99m (164'0&quot;)Tankoa Yachts S.p.A.2023">Grey</a> will now join her sisterships <a data-gid="gid://syiq/Yacht/5902" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vertige49.99m (164'0&quot;)Tankoa Yachts S.p.A.2017">Vertige</a>, <a data-gid="gid://syiq/Yacht/6614" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SP149.9m (163'9&quot;)Tankoa Yachts S.p.A.2019">SP1</a>, <a data-gid="gid://syiq/Yacht/7680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kinda49.99m (164'0&quot;)Tankoa Yachts S.p.A.2022">Kinda</a> and <a data-gid="gid://syiq/Yacht/7422" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Olokun49.99m (164'0&quot;)Tankoa Yachts S.p.A.2020">Olokun</a> at sea, and will be offered for charter with <a data-gid="gid://syiq/Company/4547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TWW Yachts (Company)">TWW Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/273065/image/large-9d23cf64470f83c72b87647aab032041.jpg" data-gid="gid://syiq/Photo/273065">

50m Tankoa S501 yacht Grey delivered

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

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

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

Oceanco superyacht Project Y722 nears completion

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

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

<img src="https://photo-assets.superyachttimes.com/photo/243632/image/large-3d50ab60434244be48566f6dc3f3b2d3.jpg" data-gid="gid://syiq/Photo/243632">The 41.8-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> motor yacht <a data-gid="gid://syiq/Yacht/2753" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Miss Iloilo41.8m (137'2&quot;)Feadship1986">Miss Iloilo</a>, previously named Golden Rule and&nbsp;Excellence, has been sold with Alan Kelly of <a data-gid="gid://syiq/Company/6930" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="LIIR Yachts International (Company)">LIIR Yachts International</a> representing the buyer and Miles Clark of <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> representing the seller. <img src="https://photo-assets.superyachttimes.com/photo/243633/image/large-f1fddfafe36a2250f695f73030662287.jpg" data-gid="gid://syiq/Photo/243633"><img src="https://photo-assets.superyachttimes.com/photo/243634/image/large-31f69750b1dc27bfe8a93b9e61991006.jpg" data-gid="gid://syiq/Photo/243634"><img src="https://photo-assets.superyachttimes.com/photo/243631/image/large-40a4b70e1641484ab4df18b8e19e1ab5.jpg" data-gid="gid://syiq/Photo/243631">The motor yacht was delivered in 1986. She features exterior design by <a data-gid="gid://syiq/Company/30" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="De Voogt Naval Architects (Company)">De Voogt Naval Architects</a>, while her interior was penned by <a data-gid="gid://syiq/Company/42" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Glade Johnson Design, Inc. (Company)">Glade Johnson Design,</a> with naval architecture by <a data-gid="gid://syiq/Company/30" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="De Voogt Naval Architects (Company)">De Voogt Naval Architects</a>. Up to 13 guests are accommodated onboard the superyacht <a data-gid="gid://syiq/Yacht/2753" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Miss Iloilo41.8m (137'2&quot;)Feadship1986">Miss Iloilo</a>, and she also has accommodation for 11 crew members including the captain.<img src="https://photo-assets.superyachttimes.com/photo/207848/image/large-9943132e2775be61bfd1823f8d14c9fe.jpg" data-gid="gid://syiq/Photo/207848"><img src="https://photo-assets.superyachttimes.com/photo/243641/image/large-d3cd30e8cfe38849a5b905a68536feef.jpg" data-gid="gid://syiq/Photo/243641"><img src="https://photo-assets.superyachttimes.com/photo/207846/image/large-7da9674d3e31131bd8a4cd2b2eca6b2d.jpeg" data-gid="gid://syiq/Photo/207846">The motor yacht has a steel hull and aluminium superstructure. She is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, which give her a cruising speed of 11 knots and a top speed of 13.7 knots. The yacht carries 43,112 litres of fuel onboard, and 8,210 litres of water.<img src="https://photo-assets.superyachttimes.com/photo/207845/image/large-e2c940e783ad00978c0d6e04c80a5914.jpeg" data-gid="gid://syiq/Photo/207845"><img src="https://photo-assets.superyachttimes.com/photo/207844/image/large-939eb03d0cd528608e88d94985a58ff5.jpeg" data-gid="gid://syiq/Photo/207844">She had a last asking price of $7,800,000.

42m Feadship motor yacht Miss Iloilo sold

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

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

40m sailing yacht Alessandro for sale

The 40m ketch sailing yacht Alessandro is for sale. 

40m ketch sailing yacht Alessandro for sale

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

31m Broward motor yacht Three Kings sold

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

<img src="https://photo-assets.superyachttimes.com/photo/272814/image/large-7b3f52ce727ebe868996d1fe5d49078d.png" data-gid="gid://syiq/Photo/272814">Spotted last week docked in the Port of Málaga, Spain, is the 45.2-metre <a data-gid="gid://syiq/Company/40" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Hakvoort Shipyard (Company)">Hakvoort</a> superyacht <a data-gid="gid://syiq/Yacht/7921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milele45.2m (148'4&quot;)Royal Hakvoort Shipyard2023">Milele</a>. Previously known during her build as Project Adur, <a data-gid="gid://syiq/Yacht/7921" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Milele45.2m (148'4&quot;)Royal Hakvoort Shipyard2023">Milele</a> was launched in May 2022 by the Monnickendam-based shipyard in the Netherlands. With a volume of 499 GT, she features interior and exterior design by <a data-gid="gid://syiq/Company/55" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Omega Architects (Company)">Omega Architects</a>, while her naval architecture comes from the boards of <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>. Onboard, her main feature is her floor-to-ceiling wrap-around windows on both aft decks, offering panoramic views from the main deck saloon and plenty of natural light. Entirely constructed out of aluminium, the fast-displacement yacht can reach speeds of up to 26.5 knots and cruise comfortably at 12 knots.

Hakvoort superyacht Milele in Málaga

The 45m superyacht Milele, built by Hakvoort, is seen here docked in the Port of Málaga, Spain.

The <a data-gid="gid://syiq/Event/176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Giorgio Armani Superyacht Regatta - 2023">Giorgio Armani Superyacht Regatta 2023</a> officially kicks off in Porto Cervo today, 6th June 2023, with the Captains' briefing followed by a welcome cocktail for participants on the rooftop terrace of the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">Yacht Club Costa Smeralda</a>. <img src="https://photo-assets.superyachttimes.com/photo/229376/image/large-aba5ff01196e691acc17d974971205b1.jpg" data-gid="gid://syiq/Photo/229376">The regatta will be accompanied once again by the <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> Rendezvous, and run by the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">Yacht Club Costa Smeralda</a>, alongside the title sponsor Giorgio Armani. The 17th edition of the event will conclude on the 10th June. Twelve superyachts are currently moored in Porto Cervo marina, a fleet which from tomorrow will be sailing the waters of the Costa Smeralda and weaving through the islands of the La Maddalena archipelago, providing a unique backdrop to the racing.Read:&nbsp;<a data-gid="gid://syiq/Article/57769" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachts attending the Giorgio Armani Superyacht Regatta 2023 (2023-06-05 17:30:00 +0200)">Yachts attending the Giorgio Armani Superyacht Regatta 2023</a><img src="https://photo-assets.superyachttimes.com/photo/227719/image/large-79ba94574a5e14f23f8e077957aac6b7.jpg" data-gid="gid://syiq/Photo/227719">The fleet has been split into two divisions, Superyacht and <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a>. The Rendezvous is a key part of the <a data-gid="gid://syiq/Event/176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Giorgio Armani Superyacht Regatta - 2023">Giorgio Armani Superyacht Regatta 2023</a> and sees owners and family competing in corinthian races, concluding with a sociable meet-up and dockside events. <img src="https://photo-assets.superyachttimes.com/photo/229379/image/large-cea83b86c27ba776c36b132d65464510.jpg" data-gid="gid://syiq/Photo/229379">Among the <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> yachts, the SW105 <a data-gid="gid://syiq/Yacht/10474" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="SØRVIND34.59m (113'6&quot;)Southern Wind2022">Sørvind</a>, whose name means "south wind", will be attending the event for the first time. Returning to the Rendezvous are yachts such as the SW102 <a data-gid="gid://syiq/Yacht/5985" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Egiwave31.78m (104'3&quot;)Southern Wind2015">Egiwave</a>, the SW100 <a data-gid="gid://syiq/Yacht/4276" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Freebird30.25m (99'3&quot;)Southern Wind2011">Freebird</a>, and the most competitive vessel in the fleet, the SW94 <a data-gid="gid://syiq/Yacht/6568" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aragon28.64m (93'12&quot;)Southern Wind2012">Aragon</a>.The Superyacht division is in turn divided into 'Combined Performance &amp; Cruising Class' and ‘Superyacht Cruising Class’, reserved for superyachts in accordance with the regulations of the Superyacht Racing Association. The winner of this class will be awarded the prestigious Silver Jubilee Cup. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/229263/image/large-dea1766703f97de872f8b3033d9ee0ff.jpg" data-gid="gid://syiq/Photo/229263">Racing will take place over four days, through Saturday 10th June, with the size of the participating vessels meaning there will be a particular focus on safety. The Superyacht Division will have staggered starts every two to three minutes for this purpose. The courses, as always, will use the islands of the archipelago of La Maddalena as natural marks. As for the classic floating buoys used for the start, offset and finish line marks, organiser the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">YCCS</a> will use MarkSetBot robotic buoys, which hold their position thanks to an electric motor teamed with a GPS system, with no need for anchors on the seabed.<img src="https://photo-assets.superyachttimes.com/photo/229378/image/large-dd64f1f46967cdc7810d78641fcbaea6.jpg" data-gid="gid://syiq/Photo/229378">The top-level fleet includes returning participants such as <a data-gid="gid://syiq/Yacht/5680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pattoo33.0m (108'3&quot;)Vitters Shipyard2016">Pattoo</a>, a 33-metre <a data-gid="gid://syiq/Company/4373" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Malcolm McKeon Yacht Design (Company)">Malcolm McKeon</a> design which claimed victory in Porto Cervo in 2021 under the name Missy, as well as the modern <a data-gid="gid://syiq/Company/327" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baltic Yachts (Company)">Baltic</a> 108 <a data-gid="gid://syiq/Yacht/4749" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="WinWin33.04m (108'5&quot;)Baltic Yachts2014">Win Win</a>, a 2022 participant, and <a data-gid="gid://syiq/Yacht/4020" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inoui33.4m (109'7&quot;)Vitters Shipyard2013">Inoui</a>, designed by <a data-gid="gid://syiq/Company/53" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Philippe Briand Ltd. (Company)">Philippe Briand</a> for Switzerland's Marco Vogele, an owner who never misses the Superyacht Regatta. The Wallycento <a data-gid="gid://syiq/Yacht/6547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="V30.48m (100'0&quot;)Wally2017">V</a> will undoubtedly attract attention thanks to its aesthetic lines and technology - designed by Mark Mills with interiors by <a data-gid="gid://syiq/Company/4640" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pininfarina (Company)">Pininfarina</a> and built by <a data-gid="gid://syiq/Company/4656" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Persico Marine (Company)">Persico Marine</a>.&nbsp;“The <a data-gid="gid://syiq/Event/176" href="https://sya.superyachttimes.com/news#managed-by-system" target="_blank">Giorgio Armani Superyacht Regatta</a> opens our international sporting season, and I want to extend the warmest of welcomes to the owners and crews, many of whom return to Porto Cervo every year. Thanks to them and to <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> for showing their appreciation for our event. And special thanks must obviously go to Giorgio Armani, for choosing the <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">YCCS</a> and uniting his name with the Superyacht Regatta. Fair winds to everyone!” commented <a data-gid="gid://syiq/Company/2826" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club Costa Smeralda (Company)">YCCS</a> Commodore Michael Illbruck. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/229454/image/large-97ab5de5db02f4d908ca88fc825cf786.jpg" data-gid="gid://syiq/Photo/229454">The programme back on land will see the Giorgio Armani Owners' Dinner held on the evening of 7th June, without doubt the most glamorous and exclusive moment of the week, while the Farewell Party taking place on Friday 9th is also not to be missed, and is open to all the crews. &nbsp;The forecast for tomorrow indicates light winds, which are set to strengthen in the following days. The first starting signal is expected to sound at 11.30 a.m. for the <a data-gid="gid://syiq/Company/151" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Southern Wind (Company)">Southern Wind</a> fleet, followed by the Superyacht division at 12 midday.<img src="https://photo-assets.superyachttimes.com/photo/229452/image/large-7f6d1fcb4614897f4cca0cf579725d46.jpg" data-gid="gid://syiq/Photo/229452">SuperYacht Times' Editor in Chief, Francesca Webster, is attending this week's event and will be on site to update on the latest news throughout the regatta.&nbsp;

Giorgio Armani Superyacht Regatta 2023

The Giorgio Armani Superyacht Regatta 2023 has begun, with the 17th edition featuring the Southern Wind Rendezvous.

The Giorgio Armani Superyacht Regatta returns with SW Rendezvous

Italy-based yacht builder <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a> has announced the launch of the first hull in the Mangusta Oceano 39 series. The 39.2-metre motor yacht was launched in Italy, with her owner, the Magusta team and all the workers involved with her construction in attendance. <img src="https://photo-assets.superyachttimes.com/photo/273018/image/large-1965135db3f79bb6c72a988df2926bb4.jpg" data-gid="gid://syiq/Photo/273018">The Mangusta Oceano 39 yacht has been developed and engineered by the shipyard’s engineering department, in collaboration with <a data-gid="gid://syiq/Company/3025" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alberto Mancini Yacht Design (Company)">Alberto Mancini</a> and <a data-gid="gid://syiq/Company/1365" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Verme Projects (Company)">Studio Verme</a>. &nbsp;The tri-deck yacht combines design and technology to create a strong identity in line with the Mangusta DNA.“We are so proud to see the first unit of this innovative new model in the water. The Mangusta Oceano 39 is a new three-decker characterised by huge glazed surfaces, where supporting structures and bulwarks have, conversely, been minimised, so as to offer the closest possible contact with the sea", explained Maurizio Balducci, CEO of the <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>. <img src="https://photo-assets.superyachttimes.com/photo/188409/image/large-dc6a18da7acaddc5482881a066708d14.jpg" data-gid="gid://syiq/Photo/188409">The Mangusta Oceano 39 yacht is described by the shipyard as “a modern villa on the sea,” and is characterised by her extensive and wide glass surfaces. She features a high volume normally found on larger yachts, with her interior design penned by <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a>'s technical department, alongside her owner.The first hull in the Mangusta Oceano 39 yacht series boasts floor-to-ceiling windows of her main and upper decks, which can be opened to seamlessly blend her interior and exterior spaces.&nbsp;Her aft area includes foldable terraces to provide direct access with the water, as well as providing guests with total relaxation in utmost privacy. Like other Mangusta models, the Mangusta Oceano 39 features a glass-bottomed infinity pool on her upper deck, which creates mesmerising water reflections into her master stateroom.<img src="https://photo-assets.superyachttimes.com/photo/188410/image/large-eca8d66fba6f15e3739348ffbc840a87.jpg" data-gid="gid://syiq/Photo/188410">In terms of accommodation, the Mangusta Oceano 39 yacht has a five stateroom layout, with her master suite situated on the main deck with a fully-automated balcony. Remaining guest accommodations include four staterooms on the lower deck with ensuite bathrooms.Performance-wise, the Mangusta Oceano 39 yacht is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> 12V 1,700 horsepower engines, which deliver her with a top speed of 16 knots, a cruising speed of 12 knots and a range of 2,600 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/273017/image/large-3a9dfdba7620dc0cb60ddb5810ade0f8.jpg" data-gid="gid://syiq/Photo/273017">The Mangusta Oceano 39 series yacht is also with fully-customisable interiors and 2,600 horsepower engines, which provide her with a top speed of 20 knots and a cruising speed of 18 knots.The next unit available for sale in the Mangusta Oceano 39 series will be hull three, with an expected delivery date of November 2024.<img src="https://photo-assets.superyachttimes.com/photo/188421/image/large-38489f99eb5cd94c9aced23fdb3c6fdb.png" data-gid="gid://syiq/Photo/188421">

39m Mangusta Oceano 39 yacht launched

The first hull in the Mangusta Oceano 39 yacht series was launched in Italy. 

First 39m Mangusta Oceano 39 motor yacht launched

Eddie Jordan is a man who needs little introduction to most. Formula 1 superstar, television personality and entrepreneur, the 68 year old Jordan has lead a fast-paced life filled with enough envy inducing experiences to last several lifetimes. One of the leading ambassadors of the Sunseeker brand, he is also one of the most vocal superyacht owners in the industry amidst the more favoured ownership approach of total privacy.

<img alt="" src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/164441/image/large-b4afc3163d4d651126efb7e97b643836.jpg" data-gid="gid://syiq/Photo/164441">

 

Jordan’s connection with yachting did not come as a consequence of fame and fortune. Born by the sea on the east coast of Ireland not far from Dublin, boats are in his blood, he tells us, and he spent the early part of his formative teenage years competing on board an International 420 Class Dinghy. “I did the Irish Championships in the 420, which then became the 470 which was the Olympic class, and then motor racing started for me,” he says. “I’ve always needed to live by the sea though, and it was far too many years that I didn’t. I feel a different person now that I’m back by the sea for the past eight years or so. It makes a big difference.”

Times have changed quite significantly since Jordan’s sailing days on board these 4.2 metre vessels. Since taking delivery of his very first Sunseeker motor yacht in 1986, he hasn’t been a year without a Sunseeker superyacht in his life, with his current model, the 47.25 metre 115, Blush, the biggest yet. Rising up the size ranges as and when they became available over the years, Jordan’s strong relationship with the yard has resulted in quite a number of Jordan’s vessels having also been the very first of its kind, with a close cooperation meaning that Jordan has had the unique opportunity to be influentially involved in various aspects of both the design and build of these vessels almost from the very inception.

Speaking of this close relationship, Jordan says, “I’m a ridiculously loyal person - that’s a very important factor within my life. Having said that, with Sunseeker it’s not just about loyalty. The brand suits my needs, and I really didn’t find it hard to align myself with the company. The quality of the production is great, as is the design. They meet my expectations. They also let me change things around and do what I want to the boat, so that’s also why I have invariably always bought the first one in any series. Robert Braithwaite (Sunseeker Founder and President) became a great friend, and so I would ask him if we could incorporate something here or there.”

Though one of the most well-known owners of Sunseeker’s motor yachts, Jordan certainly didn’t throw away his sailing roots in his later years, and in addition to a number of Sunseeker motor yachts, he has also enjoyed an extensive collection of Oyster sailing yachts. Explaining his connection with sailing, he says, “Sailing is where I came from and when I left motor racing, sailing is one of the things I actually wanted to do. I wanted to sail around the world and be a circumnavigator. I didn’t ultimately go into doing that professionally, but I bought an Oyster 885 and I still race it today.”

Hearing Jordan speak of his experiences sailing, it would seem that this is really the true passion of Jordan’s heart. So we asked, why the focus on motor yachts? The answer was logical: just like riding a motorbike and driving a car, there is a stark difference between the two, and Jordan, like many others, uses his sailing and motor yachts for quite different experiences. “You really need to live the moment when you’re riding a nice motor bike,” he illustrates. “There’s a certain thrill there. With a car, you’re inclined to just get in it and go to wherever you’re going. That doesn’t mean I’m blase about motor boats, though. A motor boat satisfies all my needs. Particularly when I was still motor racing, for example, because I needed to be sure I could be back in time to head off to a race or a meeting. Sailing is a completely different concept. You get in and time instantly becomes less of a factor.”

<img alt="" src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/164442/image/large-301e5fa3a7296fec860694610fd8eb6a.jpeg" data-gid="gid://syiq/Photo/164442">

 

Time - or lack thereof - was just one of the factors in Jordan’s decision to specifically build his latest motor yacht, Blush, for charter… as well as the self-professed tendency to be constantly looking for the best bang for your buck. Originally factoring in from six to eight weeks per year for personal use on board Blush, Jordan told us that he quickly realised he didn’t even need that, with his schedule filled to bursting with his various vocations in life from Formula 1 to television to his rock n’ roll band. Speaking of the decision to charter, he says, “I’m a bit of a serious pikey… In other words, I’m from an old school of thought. I saw buying Sunseeker’s as a business where I could enjoy the asset. As an asset it needs to work, but not to a detriment to the time that I want to spend on board. I use the sailing boat for my wife and I and a couple of friends - not really for family - so Blush is really a family boat for me."

 

“She’s bigger which suits having more people to look after. But the requirement that I thought I would need Blush for six to eight weeks a year… well, actually, I don’t need her that much. Therefore it’s simple. If a charter comes and it suits, we take it, and I will use her occasionally if she is not chartered. But generally speaking, she was built with charter in mind. It probably suits me better this way.”

Regardless of having enjoyed three successful seasons with Blush, Jordan tells us he’s now looking for a new boat, this time something a little different. “There’s no doubt I’m looking for something different. I might go for an open boat… I’d like to spend some time looking at that kind of thing. For once I may actually go down in size. I think people have gone loopy in regards to the increasing size of these yachts. The size of your wallet seems to be represented in the size of the yacht. People get a little bit carried away, and of course it’s nice to see 90 metre boats - Lionheart and M/Y A are incredible boats, for example.”

With looking for something different, does that mean a departure from Sunseeker after 20 years of continuous business? “I might have to go somewhere else,” Jordan concludes, “but I hope not - they’re good people. I think if there wasn’t something there that wasn’t exactly right, they would try and find a way of getting that to me.”

Blush is currently listed for sale with Camper &amp; Nicholsons at an asking price of £19,500,000.

This article was featured in the SuperYacht Times newspaper. <a href="http://www.superyachtcompany.com/newspaper/the-superyacht-times-subscription" target="_blank">Subscribe</a> now and never miss another issue!

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