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

Sanlorenzo Ordinary Shareholders’ Meeting approves 2022 financial statements

SanLorenzo fleet models

original

small

medium

large

extra_large

Sanlorenzo superyacht fleet

Sanlorenzo

Massimo Perotti, CEO of Sanlorenzo

Sanlorenzo Fleet

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

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

The <a data-gid="gid://syiq/Company/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="International Superyacht Society (Company)">International Superyacht Society</a> (ISS), has announced the launch of the <a data-gid="gid://syiq/Company/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="International Superyacht Society (Company)">ISS</a> Talent Pledge, to tackle the growing skills gap within the superyacht industry. It aims to do so by encouraging members to share knowledge, open doors, and provide opportunities for the next generation of professionals.<img src="https://photo-assets.superyachttimes.com/photo/326885/image/large-c8bc6b91d089c7871c339e0e78fedc9f.jpg" data-gid="gid://syiq/Photo/326885"><a data-gid="gid://syiq/Company/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="International Superyacht Society (Company)">ISS</a> President Erin Ackor stated, “Together, we have the power to address this critical challenge. By uniting our efforts, we can make a lasting impact on the future of our industry. We encourage all our members to take the first step today by signing our Talent Pledge.”The&nbsp;<a data-gid="gid://syiq/Company/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="International Superyacht Society (Company)">ISS</a>&nbsp;Talent Pledge CommitmentEach company that signs the pledge agrees to support the development of young talent within its organisation by implementing one or more of the following actions:Engage: Collective action to cocreate talent<ul><li>Actively participate in existing programs such as ‘Junior Achievement’s Sea the World’ or the programs offered by the Marine Industries Association of South Florida (MIASF or equivalent organisations).</li><li>Speak at local schools or universities about opportunities in the superyacht sector.</li><li>Create webinars promoting industry careers to reach a wider audience.</li></ul>Quality job opportunities for new talent&nbsp;<ul><li>Create job openings at all levels within their company.</li><li>Develop strategies that enable less experienced team members to learn from more seasoned professionals.</li></ul>Work-based learning<ul><li>Offer internships or apprenticeships in the field.</li><li>Build a Continuous Professional Development Program to educate new team members at all levels within the organisation.</li><li>Invite outside speakers to talk to their team.</li><li>Allocate a budget to enable promising new talent to attend conferences and shows.</li></ul>Career paths<ul><li>Implement career paths to encourage longevity within the industry.</li><li>Start a mentoring program.</li><li>Support crew members with transferable skill development for movement ashore and ensure crew onboard are aware of opportunities.</li></ul>“With the Talent Pledge, we aimed to encourage superyacht companies around the globe to attract and retain new talent in our industry," emphasised Abi McGrath, Chair of the <a data-gid="gid://syiq/Company/1886" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="International Superyacht Society (Company)">ISS</a> Talent Pledge.

International Superyacht Society launches Talent Pledge

The International Superyacht Society (ISS), has announced the launch of the ISS Talent Pledge.

The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has announced at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>, that it will be introducing 25 new models to its portfolio from 2024 to 2026. These models will be introduced across the company's seven brands, which include <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a>, <a data-gid="gid://syiq/Company/584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pershing S.p.a. (Company)">Pershing</a>, Itama, <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a>, <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a> and <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>.<img src="https://photo-assets.superyachttimes.com/photo/326707/image/large-c3976a8885eac83f845146d17853cd61.jpg" data-gid="gid://syiq/Photo/326707">Hosted by <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, alongside Chief Commercial Officer Stefano de Vivo, the duo teased a selection of the new models, which includes several yachts which are due to make their debut at the upcoming shows this season.<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> announced that they had a fleet of 21 boats attending this year’s <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a> with no less than six premieres from the <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>, <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a>, <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, <a data-gid="gid://syiq/Company/584" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pershing S.p.a. (Company)">Pershing</a> and <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti Yachts</a> brands.This comes amidst <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s recent appointment of the new Chairman of the Board of Directors, Jiang Kui.&nbsp;Alberto Galassi, CEO of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, expressed the company's ambition to exceed its previous achievements by launching more than its 2021 to 2023 benchmark of 24 new models. Galassi highlighted the firm's aggressive investment strategy, noting that <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has allocated €77 million to its expansion efforts in just the first half of 2024.&nbsp;During the press conference, Galassi noted that 52 percent of clients were repeat customers from across the seven brands, with the new models aimed at bridging the gap between the current existing fleet.&nbsp;Amongst the new models announced were the wallywhy100, which will be making her world premiere at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a> and the <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 38 and wallywind110, with more details due to be announced on these models soon.Other notable models due to join the fleet include, a new <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> model which will sit in size between the 860 and 1000 model and the <a data-gid="gid://syiq/Company/361" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Yachts (Company)">Ferretti</a> 940, which has already seen three hulls sold since its recent private preview. &nbsp;The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a> will also see new models in its <a data-gid="gid://syiq/Company/363" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Riva S.p.A. (Company)">Riva</a> brand, with the addition of the 54 Metri project and the 112 DolceVita Super yacht, which features exterior design by <a data-gid="gid://syiq/Company/366" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Officina Italiana Design (Mauro Micheli) (Company)">Officina Italiana</a>.&nbsp;

Ferretti Group reveals plan for 25 new models between 2024 and 2026

The Ferretti Group has announced at the Cannes Yachting Festival 2024, that it will be introducing 25 new models to its portfolio from 2024 to 2026.

<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is negotiating the acquisition of a shipyard in Viareggio, where it plans to build a new 40-metre <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> maxi yacht. <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> also plans to extend production beyond 40 metres, using aluminium at the new yard. In addition, new <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> offices will be built in Rapallo, Italy.This announcement was made by CEO Massimo Perotti, alongside <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> Chairman Leonardo Ferragamo, onboard the 50-metre <a data-gid="gid://syiq/Yacht/11733" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Almax49.99m (164'0&quot;)Sanlorenzo2024">Almax</a>&nbsp;during a press briefing at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival 2024</a>.<img src="https://photo-assets.superyachttimes.com/photo/326529/image/large-6ee3e933ce2f68982afaac99e4bf3877.jpg" data-gid="gid://syiq/Photo/326529">Two distinct brand identitiesDespite the acquisition, Perotti made it clear that the two brands will remain distinct. “One is a motor yacht builder, the other a sailing yacht manufacturer. They’ll never share offices or sales networks, and you won’t see them together at boat shows. They will remain two distinct mono-brands,” stated Perotti during the press conference. <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> will maintain its operations in Finland, while Ferragamo will retain his role as chairman and join <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> as vice president. <img src="https://photo-assets.superyachttimes.com/photo/326530/image/large-b55157a3c4800e17e5cf55e5f4ec035d.jpg" data-gid="gid://syiq/Photo/326530">Sanlorenzo expects to boost <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>’s profitability through better procurement and production efficiencies. Perotti highlighted how improving lead times for yacht construction could lead to higher EBITDA margins, benefiting from Sanlorenzo’s supply chain strength. However, production will remain in Finland, ensuring <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>’s heritage and expertise stay intact. <img src="https://photo-assets.superyachttimes.com/photo/261779/image/large-7b5718deb5680c4926c86d70113ad2a3.jpg" data-gid="gid://syiq/Photo/261779"><a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> celebrated for its Swan, Maxi Swan, and ClubSwan sailing yachts, along with its Shadow and Arrow motor yachts, now partners with <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> to form a powerhouse in the luxury yachting world. Four <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> maxi yachts have already been sold this summer. Both companies are known for their commitment to quality, innovation, and sustainability. This partnership aims to merge the strengths of motor and sailing yachts into a new market segment, underlining both brands’ leadership in eco-friendly yachting.Synergy in sustainability<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has pioneered sustainable technology in the industry, focusing on carbon neutrality, with goals of using green hydrogen and methanol in their yachts. The collaboration with <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a>, which shares similar values, highlights <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s dedication to creating a future with sustainable luxury yachts.<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s commitment to sustainability continues to drive its strategy, as the company leads efforts to reduce the environmental impact of recreational boating. Collaborating with industry leaders like Siemens Energy, Volvo Penta, and Rolls-Royce, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> is pushing boundaries to achieve carbon neutrality by 2030.<img src="https://photo-assets.superyachttimes.com/photo/326473/image/large-f5c916eb19f1d02248f4a612d87641bc.jpg" data-gid="gid://syiq/Photo/326473">At the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a>, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> unveiled two major eco-friendly milestones: the delivery of the 50Steel superyacht, the world’s first to feature a green methanol Reformer Fuel Cell system, and the launch of the hydrogen-powered chase boat BGH-HSV, designed for the <a data-gid="gid://syiq/Event/190" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="America's Cup - 2024 - 37th America's Cup Barcelona">America’s Cup</a>. Both vessels represent significant advances in reducing carbon emissions, with the 50Steel capable of staying at anchor for 85 percent of its time emission-free, slashing annual emissions by up to 30 percent.<ul><li style="font-style: italic;">Read:&nbsp;<a href="https://www.superyachttimes.com/yacht-news/sanlorenzo-50steel-yacht-almax-interiors" rel="noopener noreferrer" target="_blank" title="">Interiors of Almax unveiled, Sanlorenzo’s methanol fuel cell yacht</a></li></ul><a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> has ambitious plans for the future, including the debut of bi-fuel engines by 2027, which will run on 80 percent methanol and 20 percent diesel. “By 2030, we aim for full methanol-powered yachts, but this will require infrastructure changes across Europe,” said Perotti during the press conference.New Sanlorenzo models<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>’s Bluegame division continues to spearhead sustainability efforts, unveiling the innovative <a data-gid="gid://syiq/YachtModel/13303" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bluegame BGM7522.7m (74'6&quot;)">BGM75</a> at <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes</a>. This multihull yacht, designed with fuel efficiency in mind, sets new standards in eco-conscious yachting. The <a data-gid="gid://syiq/YachtModel/13303" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Bluegame BGM7522.7m (74'6&quot;)">BGM75</a>, developed with Smart Gyro stabilisers and featuring an optimised hull design by Philippe Briand, significantly reduces CO2 emissions. Looking ahead, Bluegame is working on the BGM65HH, a hydrogen-hybrid multihull yacht expected to debut in 2027.<img src="https://photo-assets.superyachttimes.com/photo/326534/image/large-43223a2b1bef25aa56865cdb42c31ae3.jpg" data-gid="gid://syiq/Photo/326534"><a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> also revealed new models at the <a data-gid="gid://syiq/Event/210" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cannes Yachting Festival - 2024">Cannes Yachting Festival</a>, including the world premieres of the <a data-gid="gid://syiq/Yacht/13947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SL86A/86026.6m (87'3&quot;)Sanlorenzo2024">SL86A</a> and <a data-gid="gid://syiq/YachtModel/13070" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SP9227.95m (91'8&quot;)">SP92</a>. The <a data-gid="gid://syiq/Yacht/13947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SL86A/86026.6m (87'3&quot;)Sanlorenzo2024">SL86A</a> showcases a reimagined asymmetry design, maximising space and enhancing the connection with the sea, while the <a data-gid="gid://syiq/YachtModel/13070" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SP9227.95m (91'8&quot;)">SP92</a> focuses on high performance with a commitment to sustainability.<img src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/326535/image/large-b93a0dcc612ac803af0034bce842a058.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIA52TLVJASOPFTPHWY%2F20240910%2Feu-west-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20240910T103623Z&amp;X-Amz-Expires=900&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Signature=72d6020334c25c369e5ef01c5a582500e47521c548dfdd1822271c4fc4a81f1d" data-gid="gid://syiq/Photo/326535">In addition, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> displayed a wide array of yachts from its current lineup, including the <a data-gid="gid://syiq/Yacht/13947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SL86A/86026.6m (87'3&quot;)Sanlorenzo2024">SL96A</a>, <a data-gid="gid://syiq/YachtModel/12731" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SX10030.53m (100'2&quot;)">SX100</a>, and <a data-gid="gid://syiq/YachtModel/8934" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo SD11835.75m (117'3&quot;)">SD118</a>, showcasing the company’s versatile offerings in the luxury yachting market.

Sanlorenzo plans to acquire Viareggio shipyard for new 40m Nautor Swan yacht

Sanlorenzo is negotiating the acquisition of a shipyard in Viareggio, where it plans to build a new 40-metre Nautor Swan maxi yacht. 

The <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">Saudi Red Sea Authority</a> (<a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>) has introduced Saudi Arabia’s first regulation specifically governing yacht activities within its territorial waters. This new regulation provides a comprehensive framework for managing yacht operations, detailing the necessary requirements and conditions, and overseeing the issuance of tourism and leisure licences. It also emphasises environmental protection, sustainability, and compliance with safety standards, reflecting <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>’s commitment to promoting a sustainable coastal tourism sector.<img src="https://photo-assets.superyachttimes.com/photo/285492/image/large-4b771601-8882-42a3-840f-de9e06e3473e.jpeg" data-gid="gid://syiq/Photo/285492">Aligned with <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>’s mandate, the regulation establishes service standards and guidelines for coastal tourism activities, ensures the protection of the marine environment in the Red Sea, and aims to foster greater engagement among both practitioners and enthusiasts. These efforts are designed to enhance user experiences and support the sustainable growth of the coastal tourism sector.The regulation sets out the conditions and procedures for issuing technical licences for leisure tourism, specifying the criteria required for yacht owners or authorised maritime tourism agents. It further defines the requirements for obtaining tourism chartering licences, which include the involvement of a licensed maritime tourism agent or yacht management company, a signed contract between the agent and the charterer, secure marina-to-yacht access, and an onboard safety guide tailored for tourism charters.Additionally, the regulation details the procedures for obtaining a tourism trip permit within Saudi Arabia's Red Sea waters, including mandatory documentation such as passenger information, sailing destinations, and the chartering contract.Regarding water toys, the regulation requires obtaining the necessary approvals and licences for activities such as recreational fishing, diving, and other similar pursuits. It mandates a clear usage guide for all water-based activities, a comprehensive response plan outlining rescue and first aid procedures, the provision of life jackets, and designated activities for children.The regulation also mandates the issuance of required licences, sets specifications for chartering yachts, and ensures that all safety and environmental protection measures are upheld on board. It further emphasises the rights of people with disabilities, promotes the preservation of the marine environment by minimising plastic use and preventing pollution, requires adherence to safe navigation guidelines, and ensures that charterers comply with the terms of their contracts.The introduction of the new regulation coincides with the launch of SRSA’s awareness campaign, “More Than a Sea,” through which the Authority underscores its role in developing a thriving coastal tourism sector. The campaign highlights <a data-gid="gid://syiq/Company/7269" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Saudi Red Sea Authority (Company)">SRSA</a>'s efforts in setting policies, strategies, plans, programmes, and initiatives essential for regulating navigational and marine tourism activities, as well as issuing licences and permits.

Saudi Red Sea Authority issues first yacht regulations

The Saudi Red Sea Authority has introduced Saudi Arabia’s first regulation governing yacht activities within its territorial waters.

In their most recent financial disclosure, the Board of Directors of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> examined and approved the consolidated half-year financial report as of 30 June 2024.<img src="https://photo-assets.superyachttimes.com/photo/320979/image/large-649a94dae16898ab9df849136057ab5a.jpg" data-gid="gid://syiq/Photo/320979">Summary<ul><li>In the first half of 2024, net revenues from new yacht sales, identified as 'Net Revenues New Yachts,' amounted to €415.1 million, a 6.9% increase from €388.4 million during the same period in 2023. The breakdown by region indicates varied performance: revenues in the Americas grew by 9.2%, while the Asia-Pacific (APAC) region saw an increase of 20.9%. The Middle East and Africa (MEA) region recorded a significant rise of 142.0%. In contrast, Europe registered a decline of 9.9%. </li><li>EBITDA reached €74.2 million, marking a 9.7% increase from €67.7 million in the first half of 2023. This resulted in an EBITDA margin of 17.9% on Net Revenues from New Yachts, an improvement of 50 basis points. </li><li>EBIT stood at €58.0 million, reflecting a 9.1% increase from €53.1 million in the first half of 2023. This corresponds to a 14% margin on Net Revenues from New Yachts, which is an increase of 30 basis points. </li><li>Group Net Profit reached €43.6 million, an increase of 11.6% compared to €39.0 million in the first half of 2023. This resulted in a net profit margin of 10.5% on Net Revenues from New Yachts, up by 40 basis points. </li><li>Organic Net Capex was reported at €20.5 million, accounting for 4.9% of Net Revenues from New Yachts, with approximately 90% allocated to expanding industrial capacity and developing new models and product lines. Additionally, net investments tied to the consolidation of the <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group totaled €12.6 million, resulting in a Total Net Capex of €33.1 million for the period. </li><li>The Net Cash Position stood at €102.2 million, following a dividend payout of €34.3 million in the second quarter. Despite the financial impacts of acquiring the <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group and the non-recurring cash absorption for normalising working capital, the balance sheet remains robust. Without these factors, the net cash position would have been €126.1 million, underscoring the company’s strong liquidity and continued capacity for investment opportunities. </li><li>The gross backlog stood at €1,364.6 million, consistent with the record levels maintained in previous years on the same date. Of this, €741.2 million is allocated for 2024, covering 83% of the annual guidance, with the remaining €623.4 million scheduled for distribution in subsequent years. This backlog provides an exceptional level of visibility, with 88% of it comprising orders from final clients. </li><li>The order intake reached €323.0 million. This level was achieved despite the transient effects of implementing and ramping up a direct distribution strategy, which included acquiring <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> and incorporating <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> MED. These changes introduced an additional delay between sell-in and sell-out phases. As of 30 June 2024, the net backlog stood at €950.0 million, exceeding one times the annual revenues and substantially surpassing pre-Covid 'normal' levels.</li></ul>Massimo Perotti, Chairman and CEO, stated: “In the first half of 2024 and until today, we have faced and overcome several challenges with determination and a dynamic approach, fully reflected in our positive results. First and foremost, we have maintained our planned growth trajectory, further expanding margins and consolidating a robust net backlog, in the context of a complex and uncertain global macroeconomic and geopolitical environment, from which even high-end luxury has not been immune.”<img src="https://photo-assets.superyachttimes.com/photo/319400/image/large-61e24b536e7293fae90291fd0d189ce5.jpg" data-gid="gid://syiq/Photo/319400">Consolidated net revenues new yachtsIn the first half of 2024, net revenues from new yachts reached €415.1 million, representing a 6.9% increase from €388.4 million in the same period of the previous year.The Yacht Division recorded net revenues of €241.7 million, a slight increase of 1% compared to €239.3 million in the first half of 2023.The Superyacht Division reported net revenues of €124.4 million, a growth of 17.6% from €105.8 million in the same period of 2023, driven by strong performance in the Alloy and Steel lines.Meanwhile, the Bluegame Division achieved net revenues of €49.0 million, up 13.1% from €43.2 million in the first half of 2023, supported by the continued success of the BGX73 model.The geographical breakdown reveals a rebound in the Americas, with revenues increasing by 9.2%. The Asia-Pacific (APAC) region recorded growth of 20.9%, excluding Greater China, while the Middle East and Africa (MEA) region saw sustained growth of 142.0%. Europe experienced a decline of 9.9%, attributed to a strong comparison base from the first half of 2023, which saw a significant increase of 37.1% compared to the first half of 2022.Consolidated operating and net resultsEBITDA reached €74.2 million, a 9.7% increase from €67.7 million in the first half of 2023, with a margin of 17.9% on net revenues from new yachts, up by 50 basis points.EBIT reached €58 million, a 9.1% increase from €53.1 million in the first half of 2023, with a margin of 14% on net revenues from new yachts, up by 30 basis points. This growth reflects the impact of recent investments in product development, increased production capacity, and recent acquisitions.Pre-tax profit amounted to €60.4 million, up by 11.6% compared to €54.1 million in the first half of 2023.Group net profit reached €43.6 million, up by 11.6% compared to €39.0 million in the first half of 2023. The margin on Net Revenues New Yachts is equal to 10.5%, up by 40 basis points compared to the same period of the previous year. <img src="https://photo-assets.superyachttimes.com/photo/289245/image/large-500b25b57fef38c2479f03d4e2bac261.jpg" data-gid="gid://syiq/Photo/289245">Consolidated balance sheet and financial resultsNet working capital was positive at €2.1 million as of 30 June 2024, compared to a negative €34.9 million on 31 December 2023 and a negative €75.6 million on 30 June 2023. This improvement reflects a return to the typical seasonality of the business, driven by (i) intensive fitting activity for yachts approaching the delivery season in the Mediterranean, and (ii) a normalised order intake aligned with typical first-half levels, resulting in lower customer advances following the post-Covid period.Inventories totaled €130.1 million, an increase of €44.6 million from 31 December 2023 and €41 million from 30 June 2023. This growth is primarily driven by raw materials and work-in-progress products, reflecting the expanding order backlog.&nbsp;Finished products amounted to €35.7 million, up by €13.6 million from year-end 2023, consisting of €25.3 million in pre-owned yachts and €10.3 million in new yachts awaiting delivery. Of the pre-owned yachts, mainly in the American market, €6.5 million pertains to yachts already sold for delivery in the coming months.Organic net investments in the first half of 2024 totalled €20.5 million, up from €13.1 million in the same period of the previous year, with around 90% allocated to expanding industrial capacity and developing new models and product lines. These investments represented 4.9% of net revenues from new yachts, reflecting a growing revenue base, while the average investment required for new model development remained stable. Including the consolidation of <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group, total investments reached €33.1 million.The net cash position as of 30 June 2024 was €102.2 million, down from €140.5 million on both 31 December 2023 and 30 June 2023. This decrease reflects temporary cash absorption due to (i) the acquisition of <a data-gid="gid://syiq/Company/1011" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Simpson Marine (Company)">Simpson Marine</a> Group, (ii) the normalisation of net working capital following intensive yacht fitting activity ahead of the Mediterranean delivery season and a return to typical first-half order levels post-Covid, and (iii) a dividend payment of €34.3 million.BacklogAs of 30 June 2024, the gross backlog was €1,364.6 million, slightly down from €1,421.1 million a year earlier. This includes €741.2 million allocated to 2024, covering 83% of the annual guidance, and €623.4 million assigned to future years, ensuring strong visibilityThe net backlog stood at €950 million, exceeding one year's revenue and remaining above pre-Covid levels.Order intake for the first half of 2024 totalled €323 million, with €168.1 million in the first quarter and €154.8 million in the second quarter. This reflects normalised levels consistent with typical first-half seasonality, despite the temporary effects of implementing a direct distribution strategy, including the acquisition of Simpson Marine and the launch of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> MED, which has extended the time between sell-in and sell-out.Guidance 2024While closely monitoring broader market conditions, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> reaffirms its organic guidance for 2024. This outlook now includes the contribution of the <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> Group for the five-month consolidation period from August to December.<img src="https://photo-assets.superyachttimes.com/photo/261779/image/large-7b5718deb5680c4926c86d70113ad2a3.jpg" data-gid="gid://syiq/Photo/261779">Commenting on the future outlook, Perotti stated: "We have successfully completed two innovative projects that mark key milestones in our ambitious journey towards more sustainable yachting. This summer, we delivered the 50Steel, equipped with a green methanol reformer-fuel cell system for on-board hospitality services, and two BGH tenders with hydrogen propulsion for America's Cup challengers.In line with our strategy for a sustainable product portfolio, the acquisition of <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Nautor Swan</a> in early August demonstrates our ability to identify high-potential investment opportunities and integrate them with a long-term industrial vision consistent with <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s philosophy. <a data-gid="gid://syiq/Company/313" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nautor Swan (Company)">Swan</a> is an extraordinary brand with which we can create significant synergies, contributing substantially to the Group's results. We move forward with great optimism, confident in our strength and the soundness of our strategic choices.”

Sanlorenzo reports H1 financial report

The Board of Directors of Sanlorenzo have examined and approved the consolidated half-year financial report as of 30 June 2024.

Sanlorenzo reports 11.6% increase in group net profit for H1

The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has announced that Stefano de Vivo has departed from his position as Chief Commercial Officer of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> and Managing Director of <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>.<img src="https://photo-assets.superyachttimes.com/photo/83726/image/large-dbe1fc34677b5128cb0f4de495c81226.jpg" data-gid="gid://syiq/Photo/83726">Stefano de Vivo will be leaving the role after serving the company for over a decade. Stefano de Vivo has decided to fully commit to his Family Office, where he will take on the role of CEO beginning 1 November 2024.Stefano de Vivo will remain connected to the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> by providing technical consultancy to support the development of the <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a> Sail business. Under his previous leadership, the Group has seen its revenues more than quadruple.“At my side for over a decade as Chief Commercial Officer of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> and Managing Director of <a data-gid="gid://syiq/Company/166" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Wally (Company)">Wally</a>, Stefano thanks to his professionalism, dedication and expertise contributed to the achievement of the important goals that the Company has reached in recent years,” explained Alberto Galassi, CEO of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/312272/image/large-c91e06863903a886e2f3c779ad496fa9.jpg" data-gid="gid://syiq/Photo/312272">The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> will follow its established succession plan, with de Vivo collaborating closely with CEO Alberto Galassi and the Chief HR Officer to ensure a smooth transition.“De Vivo decided to leave to pursue other endeavours. On behalf of everyone at <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>, I thank him for his efforts, particularly in product development and sales, which have left our Group in excellent shape with a bright future ahead.”&nbsp;“Looking ahead, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, along with its organisation, new products range already defined for the coming years and highly capable management team, is ready to continue with the growth path already undertaken,” concluded Alberto Galassi.

Stefano de Vivo leaves role as Ferretti Group CCO & Managing Director of Wally

The Ferretti Group has announced that Stefano de Vivo has departed from his position as CCO of Ferretti Group and Managing Director of Wally.

home-featured-hero#0

Ferretti Group announces Stefano de Vivo’s departure as CCO 

Turkish shipyard <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a> has announced that Özgün Utku Alanç has been appointed as General Manager of <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a>, following the retirement of former manager Gürkan Türkeş. <img src="https://photo-assets.superyachttimes.com/photo/278003/image/large-50c9ba5c8bcd8c379697259a8efe5a64.jpg" data-gid="gid://syiq/Photo/278003">Speaking in a statement posted online, Gürkan Türkeş commented: “10 years and two months...The time that has passed since I started working as a business development manager at <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a>.”“It may not seem like a long time, but since it has been very busy and full, when I look back, it feels like at least 20 years to me. Now it is time to hand over my duties as the General Manager of this distinguished institution.”Özgün Utku Alanç recently left his position as CEO of <a data-gid="gid://syiq/Company/2013" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ARES Yachts (Company)">ARES Shipyard</a>, where he resigned from the role after around 11 years at the helm. “Over the course of the past decade, I’ve had the opportunity to interact with a diverse range of stakeholders and colleagues, many of whom have then become close friends,” he said.<img src="https://photo-assets.superyachttimes.com/photo/325088/image/large-f978631424e980782e55125ab4bc7f69.png" data-gid="gid://syiq/Photo/325088">“I’ll be excitedly taking on a new challenge in a different location to continue my journey in the industry and, of course, I’ll stay connected. Change is the only constant in life.”Özgün Utku Alanç left the company in August 2024, with the <a data-gid="gid://syiq/Company/2013" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ARES Yachts (Company)">ARES</a> staff expressing their gratitude and satisfaction for his leadership. He will now take over the role at <a data-gid="gid://syiq/Company/14" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RMK Marine (Company)">RMK Marine</a> from Gürkan Türkeş.&nbsp;“His route will be growth and success,” concluded Gürkan Türkeş. “I believe that he will do more than what I have done, what I could not do, and what I did not have the opportunity to do. As it is said when leaving the bridge, I bid farewell by saying "may God bless you.”

Gürkan Türkeş retires from RMK Marine as Özgün Utku Alanç is appointed new General 

RMK Marine has announced that Özgün Utku Alanç has been appointed as General Manager, following the retirement of former manager Gürkan Türkeş.

Gürkan Türkeş retires as RMK Marine appoints Özgün Utku Alanç as new General Manager

In the most recent financial disclosure, the Board of Directors of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, the Italy-based yacht builder headquartered in Forlì, has reviewed and officially approved the financial results for the first half of 2024. <img src="https://photo-assets.superyachttimes.com/photo/311727/image/large-3fe9300677d874d5eb81b65be7e099d1.jpg" data-gid="gid://syiq/Photo/311727">Financial overview:<ul><li>Adjusted EBITDA: €96.7 million, an increase of 15.9% from H1 2023, with a profit margin of 15.8%, up by 110 basis points from the previous year. &nbsp;</li><li>Net Revenue from New Yachts: €611 million, marking a 7.7% rise compared to H1 2023. &nbsp;</li><li>Net Profit: €44 million, up 7.6% from H1 2023. &nbsp;</li><li>Order Intake and Backlog: Order intake for H1 stands at €514.4 million, showcasing a new growth trend in Q2; order backlog at €1.5 billion, up 6.0% as of 30 June 2023. &nbsp;</li><li>Net Financial Position: Reported net cash of €237 million as of 30 June 2024, an increase of approximately €31 million post-dividend payment of about €33 million.</li></ul>Order Intake:In the second quarter of 2024, <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 overall H1 order intake of €514.4 million, reflecting a 10.4% decrease compared to the same period in 2023.Order intake by segment:<ul><li>The Composite Yachts segment recorded €161.6 million, representing 31.4% of the total order intake, a notable decrease from €262.6 million or 45.8% in the corresponding period of 2023.</li><li>This downturn contrasts with the Made-to-Measure yachts segment, which increased to €256.3 million from €240.8 million, growing to represent 49.8% of total orders.&nbsp;</li><li>Meanwhile, the Superyachts Segment saw a substantial rise, tallying €96.5 million and making up 18.8% of the order intake, up from just 9.1% the prior year.&nbsp;</li><li>Notably, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>’s other businesses segment recorded no new orders in the period, a decrease from the €17.9 million and 3.1% contribution noted in 2023.</li></ul>Order intake by geography:<ul><li>In the first half of 2024, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s geographical distribution of order intakes showcased significant shifts.</li><li>In Europe, orders amounted to €182 million, representing 35.4% of the total, a decrease from the previous year's €298.8 million, which accounted for 52.1%.&nbsp;</li><li>The Middle East and Africa (MEA) region saw a notable increase to €167.2 million, constituting 32.5% of the total, up from €103.9 million or 18.1% in 2023.&nbsp;</li><li>The Asia-Pacific (APAC) region experienced a sharp decline, with orders totaling just €7.0 million, about 1.4% of the total, compared to €47.7 million or 8.3% last year.</li><li>The Americas (AMAS), however, increased their share to €158.2 million or 30.8% of the total, up from €123.5 million or 21.5%.</li></ul>Order backlog:As of June 30, 2024, the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s order backlog reached €1,495.8 million, marking a 6% increase from €1,410.5 million on the same date in 2023. This growth is attributed to the orders accumulated over the past year. Order backlog by geography:<ul><li>The Composite Yachts segment reached €350.1 million, accounting for approximately 23.4% of the total backlog, a slight decrease from €365.1 million or 25.9% in 2023.</li><li>The Made-to-Measure Yachts maintained a stable presence with €568 million, constituting roughly 38% of the backlog, marginally down from 38.7% the previous year.</li><li>The Super Yachts segment witnessed significant growth, reaching €521.9 million or 34.9% of the total, up from €442.3 million or 31.4% in 2023.&nbsp;</li><li>Meanwhile, the Other Businesses segment slightly declined to €55.8 million, representing about 3.7% of the backlog, compared to €56.9 million or 4% last year.</li><li>Net Backlog 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>, representing total orders not yet delivered minus revenues already booked, stood at €785.7 million. This figure shows a slight decrease of 5.2% from €828.7 million as of March 31, 2024, and a 3% decline from €810.4 million recorded on June 30, 2023. Net revenue new yachts:</li></ul>In the first half of 2024, the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s net revenue from new yachts rose by approximately 7.7%, reaching €611 million, up from €567.4 million in the same period of 2023. This increase can be attributed to the solid order backlog accumulated throughout 2023 and early 2024.Net revenue new yachts by segment:<ul><li>In H1 2024, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s Composite Yachts segment generated €265.5 million, accounting for approximately 43.5% of the total net revenue from new yachts, a rise from €241.6 million or 42.6% in H1 2023.&nbsp;</li><li>The Made-to-Measure Yachts contributed €232.7 million, representing about 38.1% of the total, slightly down from €226.2 million or 39.9% the previous year.&nbsp;</li><li>Super Yachts showed significant growth, reaching €82.5 million or 13.5% of the total, up from €64.8 million or 11.4%.</li><li>Revenue from Other Businesses totaled €30.4 million, making up approximately 5% of the total, a decrease from €34.8 million or 6.1% in H1 2023.</li></ul>Net revenue new yachts by geographic area:<ul><li>The Europe region generated €313 million in net revenue from new yachts, comprising approximately 51.2% of the total, up from €265.5 million or 46.8% in H1 2023.</li><li>The Middle East and Africa (MEA) region contributed €112.8 million, representing about 18.5% of the total, an increase from €88.5 million or 15.6% the previous year.&nbsp;</li><li>However, the Asia-Pacific (APAC) region saw a decrease, with revenues falling to €23.9 million, about 3.9% of the total, down from €57.5 million or 10.1%.&nbsp;</li><li>Meanwhile, the Americas (AMAS) region accounted for €161.3 million, or 26.4% of the total, slightly up from €155.9 million or 27.5% in H1 2023.</li></ul>Net profit:<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)"></a><a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s profit increased by 7.6%, rising from €40.9 million in the first half of 2023 to €44 million in the same period of 2024.Investments in tangible and intangible assets:<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s investments in tangible and intangible fixed assets totalled €90.5 million. This expenditure included approximately €14.1 million allocated for the maintenance of operations and the existing product portfolio, and approximately €76.4 million dedicated to business expansion, predominantly for the commissioning of the Ravenna shipyard.Consolidated net financial position:&nbsp;<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>'s net financial position showed a net cash balance of €237 million, an increase from €205.7 million recorded on March 31, 2024.Net working capital:<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)"></a><a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)"></a><a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>’s net working capital stood at a negative €30.7 million, reflecting a decrease of €58.4 million from March 31, 2024. This change was primarily due to accelerated deliveries in anticipation of the Mediterranean season and the subsequent collection of final payment milestones.<img src="https://photo-assets.superyachttimes.com/photo/243240/image/large-c8d44c405138c49644ebabd8896f5e94.jpg" data-gid="gid://syiq/Photo/243240">Commenting on the result, Alberto Galassi, the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>’s Chief Executive Officer, stated: “One year after the success of the double listing on the Hong Kong and Milan stock exchanges, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> confirms its growth. Margins reached 15.8%, the best result ever for the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>'s profitability, together with a net financial position of 237 million euros, improved by more than 30 million compared to last spring.&nbsp;The second quarter of 2024 also shows signs of long-term growth, including the consistent recovery in demand from the North American market, which grew by more than 28%. The season of the great European boat shows is now upon us and sees <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> present itself with a range of innovative products that are technologically advanced, attentive to sustainability and, as always, beautiful. Extraordinary boats that, we are sure, will once again be rewarded by the international market.”

Ferretti Group reports €611m net revenue from new yachts for H1 2024

Ferretti Group has reviewed and officially approved the financial results for the first half of 2024.

Dutch yacht builder <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen Yachts</a> has announced that Mark Cavendish has stepped down from his role, as they appoint Ruud van der Stroom as the new Chief Commercial Officer (CCO).<img src="https://photo-assets.superyachttimes.com/photo/324478/image/large-aa2afc69d4a4a937121f3082f22e5966.jpg" data-gid="gid://syiq/Photo/324478">Effective from 1 September, Ruud will undertake the position, bringing with him extensive experience and a unique background to the job role. Trained as a Dutch Royal Navy officer, Ruud studied Naval Architecture at the Naval Academy and Delft University of Technology.From there, Ruud spent several years in commercial shipping, with the past 16 spent of his career spent at Keppel Offshore and Marine and the <a data-gid="gid://syiq/Company/6617" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Shipyards (Company)">Damen Shipyards</a> Group, where he refined his expertise in the maritime industry.“This transition marks a significant milestone in my career,” explained Ruud van der Stroom. “My passion for yachting has been a lifelong pursuit, and joining such a prestigious shipyard feels like the perfect culmination of that journey.”<img src="https://photo-assets.superyachttimes.com/photo/53462/image/large-50d1759f2eb6dd43bdb547964990e63b.jpg" data-gid="gid://syiq/Photo/53462">Ruud will succeed Mark Cavendish, who will retire after an impressive 16 years with <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a>. Mark has spent several years in the yachting industry and under his leadership, <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a> significantly expanded its reputation and sold numerous yachts ranging from semi-custom to fully custom designs.“We extend our heartfelt gratitude to Mark for his invaluable contributions. His vast experience and deep market knowledge have been instrumental in building a solid platform for Heesen continued success,” said Niels Vaessen, <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a>’s CEO.&nbsp;“We are excited to welcome Ruud to the team and look forward to the innovative direction he will bring as we continue to elevate our offerings in the luxury yacht market.”<img src="https://photo-assets.superyachttimes.com/photo/324472/image/large-337ae6224f66b1afe2c8dfc080e8ac3e.jpg" data-gid="gid://syiq/Photo/324472">

Heesen appoints Ruud van der Stroom as new CCO

Mark Cavendish steps down as Heesen's CCO, with Ruud van der Stroom taking over, marking a significant leadership change at the shipyard.

home-featured-topleft#0

Mark Cavendish steps down as Heesen appoints Ruud van der Stroom as new CCO

The history of Baglietto

 Justin Ratcliffe explore the past, present, and future of Baglietto’s 170 year history, including the 22 superyachts they currently have in-build.

Video: Celebrating the past, present and future of Baglietto

<a data-gid="gid://syiq/Company/2207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rolls-Royce Marine (Company)">Rolls Royce</a> and the <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut-Benetti Group</a> have established a partnership under a four-year framework agreement. This collaboration will see the integration of <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> diesel engines across <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> and <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> yachts. Additionally, the agreement includes the introduction of advanced <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> propulsion systems specifically tailored for the <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> Grande Series, extending up to 30-metres.<img src="https://photo-assets.superyachttimes.com/photo/296190/image/large-463b0553fa710aae2473780ce9247995.jpg" data-gid="gid://syiq/Photo/296190">Moreover, the latest models from the <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> 'Grande' Series are set to be outfitted with fully integrated propulsion systems. These will include <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> Series 2000 engines, ZF pod drives, and <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> NautIQ marine automation solutions. The collaboration also includes a comprehensive suite of services.Denise Kurtulus, Senior Vice President of Global Marine at <a data-gid="gid://syiq/Company/2207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rolls-Royce Marine (Company)">Rolls-Royce</a> Power Systems, commented: "We are not only expanding our position as a premium supplier to the yacht industry, but also as a systems partner for our customers. And with the complete solution for the <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> Grande models, we are now also represented in the yacht class under 30-metres in length.”Marco Valle, Chief Executive of the <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut-Benetti Group</a>, stated, “We are advancing our investments in pod technology, facilitated by collaborations with leading companies such as <a data-gid="gid://syiq/Company/2207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rolls-Royce Marine (Company)">Rolls-Royce</a>, renowned for its <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> propulsion solutions in the large boat segment.”

Rolls-Royce signs agreement with Azimut-Benetti Group for MTU propulsion systems

Rolls Royce and the Azimut Benetti Group have established a partnership under a four-year framework agreement.

The <a href="https://sya.superyachttimes.com/companies/dubai-tourism" target="_blank">Dubai Department of Economy &amp; Tourism</a> is due to return to the <a href="https://sya.superyachttimes.com/events/monaco-yacht-show-2023" target="_blank">Monaco Yacht Show</a>next week, alongside the team from Abu Dhabi to share the latest developments in the UAE. Over recent years the government departments have worked together to position and promote the UAE as a leading superyacht winter destination.<img src="https://photo-assets.superyachttimes.com/photo/328197/image/large-760afb87b26ca524d6b0b96ea090bfa3.jpg" data-gid="gid://syiq/Photo/328197">The four-day event will take place from 25 to 28 September, with expected participation from nearly 600 exhibitors, including destination representatives, yacht management companies, superyacht designers and builders, alongside luxury consumer and automotive brands and over 30,000 visitors.<img src="https://photo-assets.superyachttimes.com/photo/328194/image/large-5923d7cb53a417fcb4f0b08bc6149f9c.jpg" data-gid="gid://syiq/Photo/328194">The impressive <a href="https://sya.superyachttimes.com/companies/dubai-tourism" target="_blank">Dubai Tourism</a> stand covers a 100 square-metre space in a prime location at the heart of the Monaco Yacht Show, and the team will draw attention to everything Dubai has to offer superyacht owners, crew and guests. The stand includes a private upper deck terrace where guests can enjoy meetings and refreshments in privacy, with spectacular views over the entire show.<img src="https://photo-assets.superyachttimes.com/photo/327652/image/large-207bfe79151788a844365e38f99a007d.jpg" data-gid="gid://syiq/Photo/327652">Dubai has evolved around its coastal hubs to become what it is today – an attractive global destination with world-class infrastructure, high accessibility and exclusive experiences, welcoming visitors all year round. Ranked among the most liveable places worldwide, the city’s favourable winter climate makes it an ideal haven between October to April, allowing you to extend the yachting season even further.With the Caribbean now highly oversubscribed for winter berths, Dubai offers a viable and attractive alternative and the team in Monaco will be able to assist you with any questions you may have about regulations, cruising and permits.<img src="https://photo-assets.superyachttimes.com/photo/328192/image/large-a41e373e133e58b339ad33eb2dc364c0.jpg" data-gid="gid://syiq/Photo/328192">Dubai Stakeholders&nbsp;This year, <a href="https://sya.superyachttimes.com/companies/dubai-tourism" target="_blank">Dubai Department of Economy &amp; Tourism</a> is being supported by a number of supporting stakeholders, including; <a data-gid="gid://syiq/Company/7335" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Phoenix Yacht Management (Company)">Phoenix Yacht Management</a>, the Dubai-based yacht management firm founded in 2023 by highly experienced yacht manager Ian Harris and managing director Yousuf Al Hashimi.&nbsp;Beno, the luxury rental company that provides tailor-made services across cars, chauffeur services, yacht charters, helicopter charters and more. The team from <a data-gid="gid://syiq/Company/6806" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="JLS Yachts (Company)">JLS Yachts</a> marine experts that assist owners and crew across the Middle East and beyond.The marinas of <a data-gid="gid://syiq/Company/5856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mina Rashid Marina (Company)">Mina Rashid</a> and <a data-gid="gid://syiq/Company/6804" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai Harbour Marina (Company)">Dubai Harbour</a> will have local representatives at the stand alongside Bulgari Yacht Club and Hotel, one of Dubai's most luxurious yachting destinations. Jonny Dodge and his team at the charter, brokerage and management firm <a data-gid="gid://syiq/Company/6391" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="My Ocean (Company)">My Ocean</a> will also be available, alongside IR Yachts, the shipping and marine logistics firm GAC and boat manufacturing and services company Autore.&nbsp;Make sure to stop by <a href="https://sya.superyachttimes.com/companies/dubai-tourism" target="_blank">Dubai Department of Economy &amp; Tourism</a> Stand PP75 in the Parvis Piscine to chat with the team and discover all of the above and more!&nbsp;

Dubai Tourism at Monaco Yacht Show 2024

Dubai Tourism will return next week to the Monaco Yacht Show with a host of partners.

Meet the team from Dubai at the Monaco Yacht Show 2024

The 26.82-metre sailing catamaran <a data-gid="gid://syiq/Yacht/10948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Little Giant26.82m (87'12&quot;)Sunreef Yachts2017">Little Giant,</a> is now for sale with Cornelius Kistler of <a data-gid="gid://syiq/Company/6962" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Catamaran Company (Company)">The Catamaran Company.</a> Formerly known as Ruwani, the <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> was built by Poland’s <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a> and delivered in 2017. <a data-gid="gid://syiq/Yacht/10948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Little Giant26.82m (87'12&quot;)Sunreef Yachts2017">Little Giant&nbsp;</a> features a GRP hull and superstructure. <img src="https://photo-assets.superyachttimes.com/photo/328010/image/large-1ec712d7d0bdaec4fbc0799a25f8767e.jpg" data-gid="gid://syiq/Photo/328010">With a beam of 12.09 metres, a draft of 2.31 metres, and a volume of 92 GT, <a data-gid="gid://syiq/Yacht/10948" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Little Giant26.82m (87'12&quot;)Sunreef Yachts2017">Little Giant&nbsp;</a>offers ample space for luxury cruising. The <a href="https://www.superyachttimes.com/yachts/little-giant" rel="noopener noreferrer" target="_blank" title="">Little Giant yacht for sale</a>’s exterior and interior design, along with its naval architecture, were all crafted in-house by <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/328008/image/large-c6a5370ddebcf02da2824380c3447259.jpg" data-gid="gid://syiq/Photo/328008"><img src="https://photo-assets.superyachttimes.com/photo/328009/image/large-57bdbf072ab5f01cc2807dae79931d39.jpg" data-gid="gid://syiq/Photo/328009"> This <a href="https://www.superyachttimes.com/yachts/name-or-previous-name:sunreef" rel="noopener noreferrer" target="_blank" title="">Sunreef yacht for sale</a> accommodates up to 10 guests onboard. Her bright and sophisticated interiors are characterised by a neutral colour palette, with grey beige fabrics and light woods, accented with cognac leather and silver.<img src="https://photo-assets.superyachttimes.com/photo/328006/image/large-00b60f3b656d9f8f7abb8820db27c0f8.jpg" data-gid="gid://syiq/Photo/328006"><img src="https://photo-assets.superyachttimes.com/photo/328004/image/large-44e177a9b4b9381979594aa373ac67a6.jpg" data-gid="gid://syiq/Photo/328004">This <a href="https://www.superyachttimes.com/yachts/catamaran" rel="noopener noreferrer" target="_blank" title="">catamaran yacht for sale</a> also features ample deck space for al fresco dining, and expansive sunbeds, perfect for lounging. <img src="https://photo-assets.superyachttimes.com/photo/328021/image/large-4dd2eae9a710aa9a8c9f72bd38d79f87.jpg" data-gid="gid://syiq/Photo/328021"><img src="https://photo-assets.superyachttimes.com/photo/328020/image/large-41993d61c85f6ba77f981c723732dad3.jpg" data-gid="gid://syiq/Photo/328020">Powered by twin <a data-gid="gid://syiq/Company/1483" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cummins Inc. (Company)">Cummins</a> engines, this <a href="https://www.superyachttimes.com/yachts/sailing" rel="noopener noreferrer" target="_blank" title="">sailing yacht for sale</a> cruises at 9 knots and reaches a top speed of 15 knots.

27m Little Giant sailing catamaran for sale

The 26.82-metre sailing yacht Little Giant, is now for sale with Cornelius Kistler of The Catamaran Company.

The 37.8-metre <a data-gid="gid://syiq/Company/106" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Trinity Yachts (Company)">Trinity</a> motor yacht <a data-gid="gid://syiq/Yacht/1224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pursuit37.8m (124'0&quot;)Trinity Yachts2002">Pursuit</a> sold, with <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a> brokers Henry Craven-Smith and Robert Vermilye introducing the buyer, and <a data-gid="gid://syiq/Company/2529" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Worth Avenue Yachts (Company)">Worth Avenue Yachts</a> brokers Shannon McCoy and Michael Mahan representing the seller. <img src="https://photo-assets.superyachttimes.com/photo/297798/image/large-765373f8d3d38af52b192accb7a547b7.jpg" data-gid="gid://syiq/Photo/297798"><img src="https://photo-assets.superyachttimes.com/photo/297791/image/large-223803a5119241c8ed942af559e6e69c.jpg" data-gid="gid://syiq/Photo/297791">Delivered by her American shipyard in 2002, the flybridge yacht was previously named Haven. She features interiors created by <a data-gid="gid://syiq/Company/109" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dee Robinson Interiors (Company)">Dee Robinson Interiors</a> and <a data-gid="gid://syiq/Company/108" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Scott Carpenter (Company)">Scott Carpenter</a>, while her exterior design was penned in-house by <a data-gid="gid://syiq/Company/106" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Trinity Yachts (Company)">Trinity Yachts</a>. Additionally, the yacht <a data-gid="gid://syiq/Yacht/1224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pursuit37.8m (124'0&quot;)Trinity Yachts2002">Pursuit</a> benefitted from an extensive refit in 2022. <img src="https://photo-assets.superyachttimes.com/photo/286961/image/large-2f6aad588a0c21f907900e4b8ccbfe20.jpg" data-gid="gid://syiq/Photo/286961"><img src="https://photo-assets.superyachttimes.com/photo/286960/image/large-c126990b4d2f16d334fdc9a966236979.jpg" data-gid="gid://syiq/Photo/286960"><img src="https://photo-assets.superyachttimes.com/photo/286955/image/large-f085d807fc8e5ca18006e9660458955e.jpg" data-gid="gid://syiq/Photo/286955">At a volume of 267 GT, <a data-gid="gid://syiq/Yacht/1224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pursuit37.8m (124'0&quot;)Trinity Yachts2002">Pursuit</a> is capable of sleeping as many as 11 guests across her five stateroom configuration. The yacht can also support a crew of up to six members.<img src="https://photo-assets.superyachttimes.com/photo/286976/image/large-00f9404409aa6503c1d4977d43f810ee.jpg" data-gid="gid://syiq/Photo/286976"> <img src="https://photo-assets.superyachttimes.com/photo/297784/image/large-119b08751bcec050bc3f08d9d7baee00.jpg" data-gid="gid://syiq/Photo/297784"><img src="https://photo-assets.superyachttimes.com/photo/297786/image/large-a716b92bd63320c445e729c7aefe5a40.jpg" data-gid="gid://syiq/Photo/297786">Regarding her performance, <a data-gid="gid://syiq/Yacht/1224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pursuit37.8m (124'0&quot;)Trinity Yachts2002">Pursuit</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines that propel her to a cruising speed of 15 knots and a top speed of 18 knots. <img src="https://photo-assets.superyachttimes.com/photo/286977/image/large-2b5ac798c5b97fbd43e35bedb504f82b.jpg" data-gid="gid://syiq/Photo/286977"><img src="https://photo-assets.superyachttimes.com/photo/286973/image/large-33f563d238f3b1fc9069c6d4d7058215.jpg" data-gid="gid://syiq/Photo/286973">At the time of her sale, <a data-gid="gid://syiq/Yacht/1224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pursuit37.8m (124'0&quot;)Trinity Yachts2002">Pursuit</a> had a last known asking price of $5,750,000.<img src="https://photo-assets.superyachttimes.com/photo/286975/image/large-9d69e4c0a649cf751eeca1ad77d8712c.jpg" data-gid="gid://syiq/Photo/286975"> <img src="https://photo-assets.superyachttimes.com/photo/297795/image/large-fc2d99d4f78a82aad600fd4987f194e0.jpg" data-gid="gid://syiq/Photo/297795">

38m Trinity yacht Pursuit sold

The 37.8-metre Trinity motor yacht Pursuit sold, with Burgess introducing the buyer, and Worth Avenue Yachts representing the seller. 


38m Trinity motor yacht Pursuit sold

Monaco Yacht Show 2024 attendees

We take a look at the yachts which will be in attendance at this year's Monaco Yacht Show

Yachts attending the Monaco Yacht Show 2024

The 52-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> superyacht <a data-gid="gid://syiq/Yacht/3796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ice Bear52.0m (170'7&quot;)Feadship1988">Ice Bear</a> is being offered for auction on 10 October in the United States by <a data-gid="gid://syiq/Company/6884" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Boathouse Auctions (Company)">Boathouse Auctions</a> and her brokerage central agent <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a>. All bids will be shown in real time and the sale to the highest bidder will be final and unconditional. Upon the conclusion of the auction, the auction house moves immediately to closing, so the successful bidder can sail away in 30 days or less. Perfect for the start of the Caribbean season.<img src="https://photo-assets.superyachttimes.com/photo/261104/image/large-54086fe6ef5ca560c03db70009b108fa.png" data-gid="gid://syiq/Photo/261104"><a data-gid="gid://syiq/Yacht/3796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ice Bear52.0m (170'7&quot;)Feadship1988">Ice Bear</a> was delivered in 1988 by the Dutch shipyard with exterior styling 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> and interior design from <a data-gid="gid://syiq/Company/288" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Paola D. Smith & Associates (Company)">Paola D. Smith &amp; Associates</a>. The yacht has a 614 GT and beam of 9.3-metres, offering her owner generous interior spaces with large lounges and guest areas. <img src="https://photo-assets.superyachttimes.com/photo/261109/image/large-3066f9db3ce02f9b4398a56314235809.png" data-gid="gid://syiq/Photo/261109"><img src="https://photo-assets.superyachttimes.com/photo/261106/image/large-64dca7910e6b9ba67219990b00c01122.png" data-gid="gid://syiq/Photo/261106">The superyacht can accommodate as many as 10 guests between five staterooms, with a large main deck master suite and four staterooms on the lower deck. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/261097/image/large-f29788993956f56205005803b9e35974.png" data-gid="gid://syiq/Photo/261097"><img src="https://photo-assets.superyachttimes.com/photo/261100/image/large-4c648740d8fb135f7d14f7b8281a115e.png" data-gid="gid://syiq/Photo/261100">Lead broker, Burgess' <a href="https://www.burgessyachts.com/en/meet-the-team/brokerage/kevin-kramer" target="_blank">Kevin Kramer</a>, describes what makes <a data-gid="gid://syiq/Yacht/3796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ice Bear52.0m (170'7&quot;)Feadship1988">Ice Bear</a> such a unique purchase opportunity; "<a data-gid="gid://syiq/Yacht/3796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ice Bear52.0m (170'7&quot;)Feadship1988">Ice Bear</a> has only ever been used privately, never chartered, and has always been professionally maintained so she’s in excellent condition. If it wasn’t for her classic styling, which is so emblematic of <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a>, you’d never guess she was delivered in 1988. What makes this yacht so rare, though, is that she is one of the few sport fishing <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a>'s I’ve ever seen. If sport fishing is your passion, this is the only yacht for you, absolutely tailor-made for the job and designed around that visceral connection with the ocean." <img src="https://photo-assets.superyachttimes.com/photo/261107/image/large-1563a6535c4495d61d6569c073a7b7e3.png" data-gid="gid://syiq/Photo/261107"><a data-gid="gid://syiq/Yacht/3796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ice Bear52.0m (170'7&quot;)Feadship1988"><img src="https://photo-assets.superyachttimes.com/photo/261110/image/large-0347f01b9d9c962a3e28a510bdcf20b0.png" data-gid="gid://syiq/Photo/261110">Ice Bear</a> underwent a <a data-gid="gid://syiq/Company/4135" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Patton Marine Surveyors and Consultants (Company)">Patton Marine Survey</a> on 9 September 2024, with reports posted to the auction listing. Buyer due diligence is conducted during a four-week preview period, and prospective buyers are prequalified to bid by placing a deposit into an escrow account.<img src="https://photo-assets.superyachttimes.com/photo/261093/image/large-8f5d0d91f00940ad0b1274c260dea1d5.png" data-gid="gid://syiq/Photo/261093">Once the bidding opens, bids are shown in real time on the website for interested parties to watch. The sale to the highest bidder is final and unconditional. Upon the conclusion of the auction, the auction house moves immediately to closing, so you can sail away in 30 days or less.<img src="https://photo-assets.superyachttimes.com/photo/261091/image/large-4f1a2f079dc09e99e52a7208605a3122.png" data-gid="gid://syiq/Photo/261091">Jack Mahoney, <a data-gid="gid://syiq/Company/6884" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Boathouse Auctions (Company)">Boathouse Auctions</a>, commented "We are very excited to be bringing <a data-gid="gid://syiq/Yacht/3796" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ice Bear52.0m (170'7&quot;)Feadship1988">Ice Bear</a> to auction and for the collaboration with <a data-gid="gid://syiq/Company/159" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Burgess (Company)">Burgess</a>. We feel this yacht is the perfect lot for our fall auction."

Ice Bear yacht for auction

The 52m Feadship superyacht Ice Bear is up for auction with Boathouse Auctions and Burgess.

52m Feadship superyacht Ice Bear for auction

<img src="https://photo-assets.superyachttimes.com/photo/328118/image/large-0179678c8e6bf3a54638c1fcbb000b95.jpg" data-gid="gid://syiq/Photo/328118">Spotted last Saturday cruising in IJmuiden, in the Netherlands, is the 65.2-metre superyacht <a data-gid="gid://syiq/Yacht/285" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nectar65.2m (213'11&quot;)Feadship2006">Nectar</a>, after recently completing an extensive refit. Delivered in 2006 by <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> in Aalsmeer, <a data-gid="gid://syiq/Yacht/285" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nectar65.2m (213'11&quot;)Feadship2006">Nectar</a> showcases classic 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> and a sophisticated, fully-custom interior by <a data-gid="gid://syiq/Company/2" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Terence Disdale Design (Company)">Terence Disdale Design</a>. Previously known as Callisto, the motor yacht features a refreshing and neutral palette of golds and beiges, complemented by elegant light wood paneling. Accommodating up to 12 guests across six staterooms, her full-width owner's suite on the main deck is a standout, complete with a spacious office, day room, his-and-hers bathrooms, and a walk-in dressing area. With a gross tonnage of 1,306 GT, <a data-gid="gid://syiq/Yacht/285" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Nectar65.2m (213'11&quot;)Feadship2006">Nectar</a> offers an expansive sundeck that includes a large Jacuzzi and expansive sunbathing terrace. Performance-wise, 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, achieving a top speed of 16 knots and a cruising speed of 14 knots.

65m Feadship superyacht Nectar in IJmuiden

The 65m superyacht Nectar, built by Feadship in 2006, is seen cruising in IJmuiden, The Netherlands. 

<a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> have announced the appointment of Steven English as Chief Executive Officer of the company’s <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> subsidiary (<a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>).&nbsp;Steven English previously worked as a Managing Director at Island Capital Group, where he served in senior asset management, principal investment and special situations roles. Following that role, English transitioned to a career in management consulting, overseeing teams that closed upward of $10 billion in transactions.In terms of his education, English graduated from The American University and received a Master of Business Administration jointly from HEC School of Management Paris, New York University, and the London School of Economics.<img src="https://photo-assets.superyachttimes.com/photo/327988/image/large-130a506eba026e29a4b4942d71628c82.jpg" data-gid="gid://syiq/Photo/327988">“Over my long association with <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>, I have had the privilege of working with a talented team dedicated to enhancing <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>’s position as the global leader in the marina industry, and delivering exceptional value to our clients and partners around the world,” English commented.&nbsp;Brett McGill, Chief Executive Officer and President of <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a> added: “Steve’s extensive international experience, proven industry leadership, and deep understanding of <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>’s portfolio make him the ideal person to lead <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> into its next chapter of growth and innovation. Since joining <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> in 2007 he has contributed significantly to its success, helping extend our global reach to 23 marinas across 13 countries. Among his key accomplishments, Steve has spearheaded <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>’s expansion into key markets such as the Cote d’Azur and the Middle East, grown our <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> Trident Program, and advanced IGY’s strategic alliances and brand worldwide.”“As CEO, I look forward to building on our success through new projects, such as <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> Savannah Harbor Marina in the United States and Sindalah Island Marina, a new luxury destination in Saudi Arabia. These and other exciting initiatives embody the next phase of <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>’s innovation and growth, and I’m thrilled to be leading that effort for <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>,” English concluded.&nbsp;

Steven English appointed as IGY Marinas CEO 

MarineMax have announced that Steven English has been named as the Chief Executive Officer of the company’s IGY Marinas subsidiary (IGY). 


Steven English appointed as Chief Executive Officer of IGY Marinas

The new shipyard <a data-gid="gid://syiq/Company/7256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adele Yachts (Company)">Adele Yachts</a> have unveiled the first renderings of their 45-metre superyacht series. With the first two hulls in construction and hull one due for delivery in 2025, the <a data-gid="gid://syiq/Company/7256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adele Yachts (Company)">Adele Yachts</a> 45m series is listed on the market with Michel Chryssicopoulos of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>. <img src="https://photo-assets.superyachttimes.com/photo/327958/image/large-f4e92d42d4fba6ed00a12bc8075afe01.png" data-gid="gid://syiq/Photo/327958"><img src="https://photo-assets.superyachttimes.com/photo/327957/image/large-b7b4ef4d92d321242e7130d601976c8b.png" data-gid="gid://syiq/Photo/327957">The <a data-gid="gid://syiq/Company/7256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adele Yachts (Company)">Adele Yachts</a> 45m superyacht model features exterior design and interior design by Milan-based studio <a data-gid="gid://syiq/Company/908" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hot Lab (Company)">Hot Lab</a>, as well as naval architecture penned in-house by her Turkish shipyard, <a data-gid="gid://syiq/Company/7256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adele Yachts (Company)">Adele Yachts</a>. <img src="https://photo-assets.superyachttimes.com/photo/327943/image/large-00b055825a94b8bb6ba214307c1b781a.png" data-gid="gid://syiq/Photo/327943"><img src="https://photo-assets.superyachttimes.com/photo/327941/image/large-d7dd7475fc213d4318885f5d5b3acd11.png" data-gid="gid://syiq/Photo/327941">With a volume of just under 500 GT and a beam of 9.1-metres, the superyacht is able to host as many as 10 guests across her five stateroom layout. Separate living quarters are also available to support a crew of up to 11 members.<img src="https://photo-assets.superyachttimes.com/photo/327948/image/large-fd4ccc549b42421c823a28cd7674884b.png" data-gid="gid://syiq/Photo/327948"><img src="https://photo-assets.superyachttimes.com/photo/327945/image/large-bfafb3e0e5f71f807c146e2b5b2622b6.png" data-gid="gid://syiq/Photo/327945"><img src="https://photo-assets.superyachttimes.com/photo/327947/image/large-e8a776a71e911c712dd18673223ba3f0.png" data-gid="gid://syiq/Photo/327947">The master suite and included study, display a warm colour palette of ecru and beige, paired with a floor-length mirror, dark wooden floors, and modern art sculptures. Meanwhile, the bathrooms onboard the yacht include an ensemble of materials, such as marble and light wood.<img src="https://photo-assets.superyachttimes.com/photo/327951/image/large-a25b1505eba5342700a2e1aecfd26100.png" data-gid="gid://syiq/Photo/327951"><img src="https://photo-assets.superyachttimes.com/photo/327953/image/large-6eb55b04c012aa1084a4487b1304de9a.png" data-gid="gid://syiq/Photo/327953"><img src="https://photo-assets.superyachttimes.com/photo/327954/image/large-4ecdfba9d011244c981e32bfd3863e7b.png" data-gid="gid://syiq/Photo/327954">Inside the vessel’s saloon, those onboard are invited to recline on grey-coloured furnishings embellished with light turquoise accents while surrounded by floor-to-ceiling sliding glass doors that synthesise the saloon with the outdoor walkways. <img src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/327944/image/large-5b276c9ddff4ff92993cde30032e67b7.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIA52TLVJASOPFTPHWY%2F20240917%2Feu-west-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20240917T174424Z&amp;X-Amz-Expires=900&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Signature=25f1f7498f807dea328f386ae4be1a13cf20eee6c57679fbff6a2710d9f0ce6a" data-gid="gid://syiq/Photo/327944"><img src="https://photo-assets.superyachttimes.com/photo/327946/image/large-ad10d2fbaca78a2cf1a01f91c7ec1339.png" data-gid="gid://syiq/Photo/327946">Boasting a steel displacement hull, the yacht is characterised by a streamlined profile. Guests are welcomed by a variety of opportunities for sunbathing, swimming or alfresco dining across the <a data-gid="gid://syiq/Company/7256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adele Yachts (Company)">Adele Yachts</a> 45m superyacht’s exterior decks with several dark grey seating arrangements, and a circular sundeck Jacuzzi. <img src="https://photo-assets.superyachttimes.com/photo/327943/image/large-00b055825a94b8bb6ba214307c1b781a.png" data-gid="gid://syiq/Photo/327943">Additionally, the yacht has a tender garage space capable of housing a five-metre tender and two Jet Skis. Performance-wise, the <a data-gid="gid://syiq/Company/7256" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Adele Yachts (Company)">Adele Yachts</a> 45m yacht is powered by twin <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> engines that propel her to a cruising speed of 13 knots. <img src="https://photo-assets.superyachttimes.com/photo/327940/image/large-6b3c79bfb935771118121bcc37934719.png" data-gid="gid://syiq/Photo/327940">

First look at Adele Yachts 45m yacht series 

The first interior renderings of the 45-metre Adele Yachts 45m superyacht series on the market have been unveiled. 


New shipyard Adele Yachts unveils in-build 45m superyacht model 

The 41.45-metre <a href="https://sya.superyachttimes.com/companies/intermarine-savannah" target="_blank">Intermarine Savannah</a> superyacht <a href="https://sya.superyachttimes.com/yachts/fortitude" target="_blank">Fortitude</a>, previously named Burgas, is going to be auctioned for sale by <a data-gid="gid://syiq/Company/6884" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Boathouse Auctions (Company)">Boathouse Auctions</a>. The auction is due to begin on 17 October at 16:00 in Fort Lauderdale and will begin at $3,000,000. She is also represented on the brokerage market by the team at <a data-gid="gid://syiq/Company/833" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Denison Yachting (Company)">Denison Yachting</a>.<img src="https://photo-assets.superyachttimes.com/photo/306832/image/large-5c3c6f309db2091b5e4701a8cd0076df.png" data-gid="gid://syiq/Photo/306832">Delivered in 1999, <a href="https://sya.superyachttimes.com/yachts/fortitude" target="_blank">Fortitude</a> features exterior design by <a href="https://sya.superyachttimes.com/companies/luiz-de-basto" target="_blank">Luiz de Basto Designs</a>, while her interior was penned by <a href="https://sya.superyachttimes.com/companies/marc-michaels-interior-design-inc" target="_blank">Marc Michaels Interior Design</a>, with naval architecture by <a href="https://sya.superyachttimes.com/companies/paragon-design" target="_blank">Paragon Design</a>. Her <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines were fully overhauled in 2018 and she received a complete paint job in 2016 that is in good condition.<a href="https://sya.superyachttimes.com/yachts/fortitude" target="_blank"><img src="https://photo-assets.superyachttimes.com/photo/306850/image/large-69fee2943d487acf873041bb000e639a.png" data-gid="gid://syiq/Photo/306850"><img src="https://photo-assets.superyachttimes.com/photo/306843/image/large-d66a364180c23dac8957720f1bc58eb2.png" data-gid="gid://syiq/Photo/306843">Fortitude</a> can accommodate up to 10 guests onboard across five staterooms, as well as seven crew members, including the captain. The yacht's interior was updated in 2022 to bring her more in line with contemporary designs. <img src="https://photo-assets.superyachttimes.com/photo/306844/image/large-7eed58a2808c42840061437f2781c5da.png" data-gid="gid://syiq/Photo/306844"><img src="https://photo-assets.superyachttimes.com/photo/306848/image/large-be2ba70daff4018086d71e0bce0cb604.png" data-gid="gid://syiq/Photo/306848">The 398 GT yacht for sale showcases an elegantly designed main saloon with three sofas arranged around a glass rectangular shaped coffee table. The dark toned wooden furnishings adorning the room enhances the sophisticated atmosphere.<img src="https://photo-assets.superyachttimes.com/photo/306851/image/large-40c16abde31d66c1b75095972aabbbce.png" data-gid="gid://syiq/Photo/306851">The yacht's master stateroom, located on the main deck, features dark-toned wooden furnishings complemented by light-coloured marble tops. This contrasting combination significantly elevates the room’s elegance. Additionally, the inclusion of a desk space enhances the room's versatility.<img src="https://photo-assets.superyachttimes.com/photo/306836/image/large-63d710dd4a2970e3edbac7bd32183d1b.png" data-gid="gid://syiq/Photo/306836">Exterior features on the yacht include a strategically placed Jacuzzi on the sundeck, conveniently located adjacent to the bar. This setup allows guests in the Jacuzzi to easily receive refreshments. The sundeck's abundance of lounging space adds to its versatility, offering guests a variety of relaxation options, whether in the Jacuzzi or on the lounge chairs.<img src="https://photo-assets.superyachttimes.com/photo/306840/image/large-a1e82304283e26a331105db6909f394b.png" data-gid="gid://syiq/Photo/306840"><img src="https://photo-assets.superyachttimes.com/photo/306842/image/large-6ec98f6a71d5855ba749c5668859e634.png" data-gid="gid://syiq/Photo/306842">She has a GRP hull and superstructure. Performance-wise, she is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, which give her a cruising speed of 18 knots and a top speed of 21 knots. <img src="https://photo-assets.superyachttimes.com/photo/306833/image/large-7d666a781f10ac83019c0743f19c6d33.png" data-gid="gid://syiq/Photo/306833">You can find the bidding information <a href="https://boathouseauctions.com/auctions/fortitude-136-intermarine-1999" rel="noopener noreferrer" target="_blank" title="">here</a>.

Yacht Fortitude for auction

The 41m Intermarine superyacht Fortitude will be sold at auction next month in US.