Quentin Bargate, Senior Partner of the City law firm Bargate Murray and head of the Superyacht Group comments on the recent seizure of superyacht Force Blue and how yacht owners and managers can protect themselves By Quentin BargateItaly and superyachts seem to mix less well than oil from a leaking BP platform and water at the moment. Like the oil spill off the Florida coast, the recent reported activities of the Guardia di Finanza in seizing super yacht Force Blue on the Italian Riviera – using, it is reported, armed police and gunboats – seems to be wholly unexpected and shocking. But in the present feverish financial climate, powerful local prosecutors in Italy are flexing their muscles at perceived tax evasion, real or imagined, aided by a possible lack of understanding of the finer points of EU and international law that is not helping matters. The owner and his colleagues are entitled to be presumed to be innocent of any wrongdoing. <img alt="" src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/131393/image/large-01c3fe8833bbeddc83c4a1cba1f62843.jpg" data-gid="gid://syiq/Photo/129708">So let us step back a moment and consider the position in the round. The Cayman Islands Flag Much has been made of the fact that Force Blue flies the Cayman flag – but then again, about 90% of the world’s superyachts fly the Cayman flag. It is a highly regarded “Red Ensign” flag with a strong international reputation, on the “white list” of quality flags as identified in the respected Paris memorandum of understanding. The Cayman Register is sophisticated and follows the guidance of the UK Maritime Coastguard Authority (MCA). In terms of regulatory compliance, it is hard to criticise the Cayman Islands Flag – it is first class. However, it is thought that some in the Guardia Di Finanza see the use of the Cayman flag as a sign the owner is trying to avoid tax. There is obvious financial and local political pressure on the authorities in Italy and elsewhere to crack down on tax abuse and high net worth individuals and their assets are obvious targets. Superyachts are worth tens of millions or more – quite a prize. And bear in mind that in Italy, it may take at least 6 months before a final decision is rendered regarding a yacht seizure, so even if the case is thrown out, it will have cost the owner a small fortune in lost charter hire or simply inconvenience and embarrassment. Worse still, if the case is lost, the result may be that the yacht is sold with the state keeping the proceeds. Much of what is happening in Italy may be the result of a misunderstanding. Regulatory compliance with international shipping standards and tax are two different things but there may of course be a link in that the owners of most superyachts are not people, but offshore companies, quite possibly also Cayman registered, and this is, of course, done for tax purposes. It follows that it is ownership of the yacht that should be looked at, not simply the flag it flies. The distinction between legal ownership, and the flag the yacht flies, is potentially of key importance. Personal Use and Chartering There is a regime known as “Temporary Importation” or TI for short, set out in Section F, Article 137-144 of the Customs Code that allows for the temporary importation into the EU of non-EU goods such as yachts registered abroad for personal private use for up to 18 months. Non-EU vessels intended for re-export brought in to the EU by a non-EU resident under the TI regime do not have to pay VAT on importation. They can then be used within the customs territory of the EU by their owners for pleasure purposes for up to 18 months. They must then leave the EU (there are limited circumstances where the 18 months may be extended). After a suitable time (not defined, I might add) they can then re-enter the EU and enjoy a further period of TI. However, in some cases, yachts that have been imported in to the EU using TI are being chartered. Chartering is a commercial activity inconsistent with TI and it risks exposing the owner to action by an EU fiscal authority. That action may include criminal sanctions in some jurisdictions. At the very least, the owner may be exposed to fines, but in the worst case scenario, the yacht itself might be confiscated and sold. I don’t know how many yachts imported using TI are in fact being used for commercial purposes, but I suspect it is a significant number. Those owners should seek urgent advice because they are at serious risk, particularly if visiting Italy, but also in any EU jurisdiction. Importation in to the EU For yachts used commercially within the EU, forget TI and seek advice on setting up a proper structure to minimize tax risk and penalties. A popular choice is to establish a place of business in an appropriate part of the customs union. One choice for yacht owners is the Isle of Man. Article 3 of the Customs code provides that the customs territory of the Community includes the Isle of Man. By establishing a place of business there and importing the yacht into the Isle of Man, the yacht will be in free circulation throughout the EU. This should mean that the yacht is free to travel to any EU port without paying VAT on the hull value. The applicable rate of VAT in the Isle of Man is zero. If the boat is chartered by the beneficial owner, then he or she has to pay a proportion of relevant VAT on their use under what is known as the “Lennartz” accounting principles. This means that an owner must account for tax on the deemed supply created by his private use. One slight hiccup here is that the Isle of Man no longer issues “tax paid” certificates as proof that any tax due has been paid. They will usually simply issue a letter. My advice is to ensure any such letter is kept on board the yacht and is a notarized original document. If the fiscal authorities of a port state inspect the books and records of your yacht, it is best to ensure your evidence of VAT tax paid status is watertight. Note that a yacht imported in to the Isle of Man can still fly the Cayman Flag. It can even remain owned by a Cayman or, say, BVI offshore company. The key is a genuine business presence established in the Isle of Man with income from charter hires etc flowing through local accounts. There is an administration cost for this service, but it is a small price to pay for peace of mind. There are alternatives to the Isle of Man, including Malta. It is possible and some would advise, desirable also to flag your yacht in the Isle of Man as to do so reduces the suspicion in the minds of the financial police compared with a situation where they see a Cayman flag flapping in the wind on board your yacht. In a world of image and glamour, perception may be very important. The Isle of Man is also a Red Ensign flag with similar standards to those of Cayman, but arguably without the suspicion of tax avoidance that seems to surround Cayman, unjustified though that is. Not all yacht managers and Captains will be happy switching from Cayman to the Isle of Man and strictly speaking it ought to make no difference, but in a business where image is important, it may be a step worth considering. Our advice to clients in recent months has been to be very wary of Italy and to check carefully with advisers before engaging in charter activity there. We hear of other cases in the offing, so it just is not worth taking risks. For Italy, they risk driving away lucrative yacht business that must be of considerable benefit to local businesses. The situation right now is that even a well run and properly structured yacht business might be targeted for something as routine and normal as flying a Cayman flag. Hopefully good sense will prevail in the longer term, but in the short term, proceed with caution and take proper advice. © Quentin Bargate Senior Partner Head of Superyacht Group Bargate Murray +44 (0)2073751393 <a href="mailto:yachtgroup@bargatemurray.com?subject=Article%20-%20The%20Italian%20Job%20on%20SuperYachtTimes.com">yachtgroup@bargatemurray.com</a> <a target="_blank" href="http://www.bargatemurray.com">www.bargatemurray.com</a> Please note this article is written for general information purposes and does not constitute legal advice. It is also based on reported information and those involved are entitled to a presumption of innocence.

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The Italian Job – the Financial Police get tough on Yacht Owners 

Italian yacht builder <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> has denied rumours that they had a possible interest in acquiring <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a>.<img src="https://photo-assets.superyachttimes.com/photo/397066/image/large-cec8e87de7ad8613fc332951b5703d7a.jpg" data-gid="gid://syiq/Photo/397066">According 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>, press articles had reported that they were in negotiations with <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> to acquire the entire share capital or the main assets. <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> clarified that at present no negotiations to that effect are underway with <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> or its shareholders.“At the same time, as a leading player in the Italian yachting industry and in line with its external growth strategy, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> continuously evaluates and assesses potential opportunities that may arise in the market,” commented <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>.The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> closed their statement by confirming that if they were to proceed with any transactions, it would inform the market in compliance with terms and conditions required by law.In February 2026, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that Chairman Filippo Menchelli and Vice Chairman Marco Carniani had resigned, with Giovanni Costantino elected as Chairman of the Board of Directors.The following week, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> launched a forensic investigation into internal overspending and financial irregularities. KPMG was appointed to conduct an independent forensic due diligence review, as a result of the actions made possible by a group of individuals within <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>.&nbsp;Since then, the Court of Florence has granted protective measures restricting creditors from initiating or continuing enforcement actions against the company’s assets, including vessels currently under construction. Last week, these measures were partially lifted for five shipowners.Read more: <a data-gid="gid://syiq/Article/66308" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Florence court lifts protective measures for five The Italian Sea Group yacht contracts (2026-06-11 10:00:00 +0200)">Florence court lifts protective measures for five The Italian Sea Group yacht contracts</a>The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> is not the only company that has denied acquisition rumours for TISG. In March 2026, German yacht builder <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> told SuperYacht Times that <a data-gid="gid://syiq/Article/65574" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen not considering acquiring The Italian Sea Group (2026-03-09 14:00:00 +0100)">the company had not considered acquiring TISG</a>.&nbsp;

Ferretti Group denies The Italian Sea Group acquisition rumours

Italian yacht builder Ferretti Group has denied rumours that they had a possible interest in acquiring The Italian Sea Group (TISG).

Italian yacht builder <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> has announced that the KKCG owned shareholder Azúr a.s. has initiated legal proceedings challenging the appointment of the new board of directors at the company's shareholders' meeting on 14 May 2026.<img src="https://photo-assets.superyachttimes.com/photo/394210/image/large-3bfd53739fbb59d4d9e5f0968bf4da9e.jpg" data-gid="gid://syiq/Photo/394210">According to a statement released by <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> on 11 June, Azúr filed a writ of summons before the Court of Bologna on 9 June 2026 pursuant to Articles 2377 and 2378 of the Italian Civil Code.Azúr a.s. is a wholly owned part of KKCG’s global business, founded by Czech entrepreneur Karel Komárek. They bring together all of KKCG Maritime’s assets into a single entity and currently have a 23.23 percent stake in the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>.&nbsp;Azúr is currently seeking nullity and/or annulment of resolutions concerning the appointment of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>'s new board of directors, the determination of the number of board members and the appointment of the company's board of statutory auditors.They have also requested interim relief from the court to suspend the effectiveness of those resolutions pending the outcome of the proceedings. <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> have responded stating that they will take the necessary steps to defend its position.&nbsp;“<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a>, having taken note of the service of the writ of summons, will protect its rights and will seek appropriate legal advice to defend and will have the absolute correctness of its conduct ascertained before the competent Court.”<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> confirmed that its corporate bodies remain fully operational and continue to perform their respective duties and responsibilities. They also added that these legal proceedings have no impact on its business operations, customer relationships, commercial activities or strategic projects.The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> officially announced the appointment of Stassi Anastassov as its new Chief Executive Officer with immediate effect, following the company’s Annual General Meeting held on 15 May 2026.Read more:&nbsp;<a data-gid="gid://syiq/Article/66099" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group appoints Stassi Anastassov as CEO amid ownership tensions (2026-05-15 16:30:00 +0200)">Ferretti Group appoints Stassi Anastassov as CEO amid ownership tensions</a><img src="https://photo-assets.superyachttimes.com/photo/386471/image/large-5864e3d980f30348ec76855095f57666.jpg" data-gid="gid://syiq/Photo/386471">The appointment was confirmed by the Board of Directors, which also reconfirmed Tan Ning as Chairman of the Board and the departure of Alberto Galassi. On 15 May, KKCG Maritime submitted a request to the Italian government to assess whether <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> had breached "golden power" rules designed to shield strategic assets.The matter will now be considered by the Court of Bologna, with <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti</a> stating that it will keep shareholders informed of any material developments in accordance with applicable laws and regulations.

KKCG Maritime challenges Ferretti Group board appointments in court

Ferretti has announced that the KKCG owned shareholder Azúr has initiated legal proceedings challenging the appointment of the new board of directors.

Ferretti shareholder KKCG Maritime challenges board appointments in court

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group (TISG)</a> has announced that the Court of Florence has partially lifted protective measures for five shipowners, following the company's ongoing negotiated crisis settlement procedure.<img src="https://photo-assets.superyachttimes.com/photo/367061/image/large-152c0f12c19271f70607c9687ef33098.jpg" data-gid="gid://syiq/Photo/367061">On 16 March, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that it had initiated a negotiated settlement procedure under Italian Legislative Decree No. 14/2019, following internal financial irregularities. This legal framework aimed to enable them to restructure, while continuing to operate under the supervision of an independent expert.Following this, on 20 April, the Court of Florence granted protective measures for a maximum period of four months, restricting creditors from initiating or continuing enforcement actions against the company’s assets, including vessels currently under construction.The court also confirmed that these protective measures extended to shipowners, which prevented them from terminating their contracts of yachts currently under construction during the proceedings.The Court of Florence has now issued an order upholding the appeals filed by five shipowners which prevented them terminating their contracts. With respect to them it was also found that they were unable to exercise the other rights provided under their contracts.&nbsp;The court found that the yachts could not be covered by the protective measures because they were neither assets of the company, nor assets instrumental to its business operations.Read more:&nbsp;<a data-gid="gid://syiq/Article/66150" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG enters restructuring phase after share capital falls below legal minimum (2026-05-22 11:15:00 +0200)">TISG enters restructuring phase after share capital falls below legal minimum</a><img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">The ruling also determined that the shipowners were not creditors against whom such measures could be applied and their right to obtain performance under the pending contract could not be satisfied through enforcement or interim measures.The order applies exclusively to the five shipowners who filed the appeals and has no effect on the other shipowners or creditors, with the previous measures remaining in effect for the duration already established by the Court.&nbsp;TISG also stated that these measures do not affect the ongoing negotiations with its main stakeholders, including shipowners, suppliers and financial institutions, as part of the company's economic and financial rebalancing plan which is currently in progress.The company also stated that, with regard to the affected shipowners, the substance of the contractual relationships remains unchanged despite the lifting of the protective measures.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> said it will continue to provide updates on developments relating to the procedure and any further initiatives undertaken in accordance with applicable regulations.

TISG: Florence court removes protections affecting five yacht contracts

A Florence court has partially lifted protective measures affecting five yacht contracts linked to TISG's ongoing negotiated settlement procedure.

Florence court lifts protective measures for five The Italian Sea Group yacht contracts

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

Launch of Matterhorn yacht brokerage

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

Adam Papadakis and Kurt Fraser launch Matterhorn

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

Dörries Yachts construction facilities at Volkswerft Stralsund

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

Dörries Yachts agrees lease for new shipyard in Germany

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

SYDNA launches international association for superyacht designers and naval architects

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

SYDNA launches to represent superyacht designers and naval architects

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

The Italian Sea Group aims for full operations by June 

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

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

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

TISG share capital falls below legal minimum

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

TISG enters restructuring phase after share capital falls below legal minimum

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

Ferretti Group reports lower Q1 revenue as order intake falls

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

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

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

Off The Hook Yacht Sales to rebrand as NextBoat

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

The 26.09-metre <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> motor yacht <a data-gid="gid://syiq/Yacht/13860" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="St Jude26.09m (85'7&quot;)Azimut Yachts2025">St Jude</a> is currently for sale with Ed Dickinson of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>. The <a href="https://www.superyachttimes.com/directories/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> presents an opportunity to acquire a recently delivered and highly specified example of the <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> Grande 26 Metri series. <img src="https://photo-assets.superyachttimes.com/photo/396921/image/large-ff944c89d13eb307ec0217c75a08e8c8.jpeg" data-gid="gid://syiq/Photo/396921">Delivered in 2025, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/of-type=motor" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a> benefits from a carbon-fibre superstructure designed to reduce weight and improve efficiency when cruising. Constructed with a GRP hull and superstructure, <a data-gid="gid://syiq/Yacht/13860" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="St Jude26.09m (85'7&quot;)Azimut Yachts2025">St Jude</a> has a beam of 6.3-metres and a draft of 2.05-metres. She features exterior design by <a data-gid="gid://syiq/Company/3025" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alberto Mancini Yacht Design (Company)">Alberto Mancini Yacht Design</a>, while her interior was penned by <a data-gid="gid://syiq/Company/563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Salvagni Architetti (Company)">Salvagni Architetti</a>. Her naval architecture was developed by her builder.&nbsp; Outside, <a data-gid="gid://syiq/Yacht/13860" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="St Jude26.09m (85'7&quot;)Azimut Yachts2025">St Jude</a>’s exterior spaces are a highlight onboard. The <a data-gid="gid://syiq/Yacht/13860" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="St Jude26.09m (85'7&quot;)Azimut Yachts2025">yacht St Jude for sale</a> is fitted with <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a>’s optional Deck2Deck folding sea terrace system, which expands the usable aft deck area allowing it to be closer to the water. Meanwhile, her flybridge has been configured for relaxing and entertaining, featuring a dining table that could seat up to 10 guests, an American-style bar, barbeque grill, opening hardtop, and secondary help station. Forward, her bow lounge benefits from additional seating and sunbathing zones, tucked away from the main guest spaces.<img src="https://photo-assets.superyachttimes.com/photo/396922/image/large-b17c982cd7b5c2ba9113b7864705be5f.jpeg" data-gid="gid://syiq/Photo/396922">Stepping inside, the <a href="https://www.superyachttimes.com/directories/yachts/for-sale/built-by=azimut" rel="noopener noreferrer" target="_blank" title="">Azimut yacht for sale</a> embraces a contemporary interior defined by soft neutral tones, curved furnishings, and extensive glazing that draws in abundant natural light. Her layout separates the dining area from her main saloon, encouraging gatherings to be more intimate, while her upgraded galley includes a serving window opening directly into the dining space to facilitate guest service. <img src="https://photo-assets.superyachttimes.com/photo/396923/image/large-22435a62778c5c6762f8010710893939.jpeg" data-gid="gid://syiq/Photo/396923">At an interior volume of 122 GT, accommodation onboard <a data-gid="gid://syiq/Yacht/13860" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="St Jude26.09m (85'7&quot;)Azimut Yachts2025">St Jude</a> is arranged for up to 10 guests across a five-stateroom layout. Her full-beam owner’s suite is situated on the main deck and benefits from enhanced sound insulation, blackout blinds and an oversized bed. Dedicated quarters are also provided for a crew of three, including her captain.<img src="https://photo-assets.superyachttimes.com/photo/397068/image/large-1fcc7af707c5579ae424a83bf3c32c28.jpeg" data-gid="gid://syiq/Photo/397068">In terms of performance, the <a data-gid="gid://syiq/Yacht/13860" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="St Jude26.09m (85'7&quot;)Azimut Yachts2025">yacht St Jude for sale</a> 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 delivering a cruising speed of 23 knots and a top speed of 26 knots.<img src="https://photo-assets.superyachttimes.com/photo/396920/image/large-a4ddf5b7874a04338f96c6d9608e3bc5.jpg" data-gid="gid://syiq/Photo/396920">All images provided courtesy of <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>.

26m Azimut motor yacht St Jude for sale

The 26.09-metre Azimut motor yacht St Jude is currently for sale with Northrop & Johnson.

The 28.96-metre <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess</a> motor yacht <a data-gid="gid://syiq/Yacht/11146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Current $ea28.96m (95'0&quot;)Princess Yachts2011">Current $ea</a> has been sold. Arto Horenyan and Demir Ozgur of <a data-gid="gid://syiq/Company/7231" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Purom LLC (Company)">Purom Yacht Sales</a> introduced the buyer, while <a data-gid="gid://syiq/Company/1693" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Blue Ocean Yacht Management (Company)">Blue Oceans Yachting</a> represented the seller.<img src="https://photo-assets.superyachttimes.com/photo/297356/image/large-fb368d723c9b5093a7391e102023de52.jpg" data-gid="gid://syiq/Photo/297356">Delivered in 2011, the <a data-gid="gid://syiq/Company/1912" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Princess Yachts (Company)">Princess</a> 95 yacht benefitted from a refit in 2024. She features interior penned in-house by her builder, with exterior design and naval architecture crafted by <a data-gid="gid://syiq/Company/2740" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Olesinski Ltd. (Company)">Olesinski</a>.At a volume of 173 GT, <a data-gid="gid://syiq/Yacht/11146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Current $ea28.96m (95'0&quot;)Princess Yachts2011">Current $ea</a> can accommodate up to eight guests across four well-appointed staterooms. Her layout comprises a master suite, VIP suite, a double and a twin stateroom. Moreover, the yacht's main saloon is fitted with comfortable seating surrounding a coffee table, while a formal dining area forward can seat eight guests. Aft, guests can enjoy alfresco dining, as well as evenings at the bar and lounge area beneath a custom hardtop in the flybridge.In terms of propulsion system, <a data-gid="gid://syiq/Yacht/11146" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Current $ea28.96m (95'0&quot;)Princess Yachts2011">Current $ea</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, giving her a cruising speed of 15 knots and a top speed of 29 knots.

Princess yacht Current Sea sold

The 28.96-metre Princess motor yacht Current $ea has been sold.

29m Princess motor yacht Current $ea sold

<a data-gid="gid://syiq/Company/4590" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vard Group AS (Company)">Vard</a> has announced the keel laying for Inkfish's new 100-metre research vessel, <a data-gid="gid://syiq/Yacht/15856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RV6000100.0m (328'1&quot;)Vard Group AS2028">RV6000</a> at the <a data-gid="gid://syiq/Company/4590" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vard Group AS (Company)">Vard</a> Shipyard in Brăila, Romania. Known during construction as NB 999, the vessel will be the first research platform purpose-built for Gabe Newell’s research organisation.<img src="https://photo-assets.superyachttimes.com/photo/397061/image/large-d35a472dcc679e61841c880a2655ea40.jpeg" data-gid="gid://syiq/Photo/397061">Developed from the <a data-gid="gid://syiq/Company/4590" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vard Group AS (Company)">Vard</a> 9 33 platform, <a data-gid="gid://syiq/Yacht/15856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RV6000100.0m (328'1&quot;)Vard Group AS2028">RV6000</a> represents a contract of more than €200 million. Upon delivery, she will join Inkfish's expanding fleet alongside the 55.75-metre <a data-gid="gid://syiq/Company/1643" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Auroux (Company)">Auroux</a> vessel <a data-gid="gid://syiq/Yacht/2832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hydra55.75m (182'11&quot;)Auroux1974">Hydra</a> and the 68.28-metre <a data-gid="gid://syiq/Company/3754" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tacoma Boat Building Co (Company)">Tacoma Boat Building</a> vessel <a data-gid="gid://syiq/Yacht/10637" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dagon68.28m (224'0&quot;)Tacoma Boat Building Co1985">Dagon</a>.<img src="https://photo-assets.superyachttimes.com/photo/365665/image/large-908318675f42f6a91544e68f54985a77.png" data-gid="gid://syiq/Photo/365665">Read more:&nbsp;<a data-gid="gid://syiq/Article/64326" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="From gaming to yachting: Gabe Newell on life at sea and building the future with Oceanco (2025-09-25 13:30:00 +0200)">From gaming to yachting: Gabe Newell on life at sea and building the future with Oceanco</a><a data-gid="gid://syiq/Yacht/15856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RV6000100.0m (328'1&quot;)Vard Group AS2028">RV6000</a> is designed to support deep-ocean exploration and scientific operations. She will be equipped with a remotely operated vehicle capable of operating at depths of up to 6,000-metres. Like the rest of the Inkfish fleet, she will contribute to global marine research efforts and share collected data through open-access scientific repositories.<img src="https://photo-assets.superyachttimes.com/photo/397058/image/large-4eb30edccf76f557eef22493215f51d9.jpeg" data-gid="gid://syiq/Photo/397058">The project is the result of a collaborative design programme initiated in early 2024 between Inkfish and its UK-based technical advisers, <a data-gid="gid://syiq/Company/7198" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="YTMC Limited (Company)">YTMC</a>. With a beam of 20.7-metres, <a data-gid="gid://syiq/Yacht/15856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RV6000100.0m (328'1&quot;)Vard Group AS2028">RV6000</a> will be able to accommodate up to 70 people, including scientists and crew. Onboard, she will feature state-of-the-art laboratories, office spaces and workshops, complemented by high-quality accommodation and leisure facilities designed for extended missions at sea.<img src="https://photo-assets.superyachttimes.com/photo/397059/image/large-a5ea1a627ba59ada6647e8daad68fc5d.jpeg" data-gid="gid://syiq/Photo/397059">The vessel will utilise a hybrid power and propulsion arrangement and is expected to reach a top speed of 15 knots. Her hull has been engineered to optimise seafloor mapping performance while delivering enhanced seakeeping capabilities. Anti-roll technology will help reduce vessel motion and accelerations, while dynamic positioning systems will allow her to maintain precise station-keeping during scientific operations.<img src="https://photo-assets.superyachttimes.com/photo/365663/image/large-c61127683cf23a8c4c8a30a5e12daadd.png" data-gid="gid://syiq/Photo/365663">Following hull construction, <a data-gid="gid://syiq/Yacht/15856" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RV6000100.0m (328'1&quot;)Vard Group AS2028">RV6000</a> will proceed to <a data-gid="gid://syiq/Company/4590" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vard Group AS (Company)">Vard</a> Søviknes for final outfitting, commissioning and delivery. Together with <a data-gid="gid://syiq/Yacht/17142" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RV11000162.0m (531'6&quot;)Vard Group AS2030">RV11000</a>, she forms part of Gabe Newell’s expanding research fleet.Read more about RV11000: <a data-gid="gid://syiq/Article/66207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vard signs €700M contract with Gabe Newell’s Inkfish for 162m research vessel (2026-05-29 14:00:00 +0200)">Vard signs €700M contract with Gabe Newell’s Inkfish for 162m research vessel</a>Newell is the co-founder, president and majority owner of the video game company Valve Corporation. He is also the owner of Inkfish and a shareholder in Dutch yacht builder <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>.<img src="https://photo-assets.superyachttimes.com/photo/372661/image/large-efbaa1c91bfa6988f938d8e2732895dd.jpg" data-gid="gid://syiq/Photo/372661">Read more: <a data-gid="gid://syiq/Article/63947" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gabe Newell buys Oceanco (2025-08-01 10:15:00 +0200)">Gabe Newell buys Oceanco</a>In September 2025, Newell revealed in an <a data-gid="gid://syiq/Article/64326" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="From gaming to yachting: Gabe Newell on life at sea and building the future with Oceanco (2025-09-25 13:30:00 +0200)">exclusive interview with SuperYacht Times</a> that he owns the 78.5-metre <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> superyacht <a data-gid="gid://syiq/Yacht/10" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rocinante78.4m (257'3&quot;)Lürssen Yachts2008">Rocinante</a>, the 72.15-metre <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> yacht <a data-gid="gid://syiq/Yacht/5955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Game Changer72.15m (236'9&quot;)Damen Yachting2017">Game Changer</a>, the 92.8-metre <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a> yacht <a data-gid="gid://syiq/Yacht/4018" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Draak92.8m (304'6&quot;)Oceanco2014">Draak</a>, and the 111-metre <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a> yacht <a data-gid="gid://syiq/Yacht/10354" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Leviathan111.0m (364'2&quot;)Oceanco2025">Leviathan</a>.As previously noted, his research platforms include <a data-gid="gid://syiq/Yacht/10637" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dagon68.28m (224'0&quot;)Tacoma Boat Building Co1985">Dagon</a>, operating as a full-ocean-depth surface support vessel, and <a data-gid="gid://syiq/Yacht/2832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hydra55.75m (182'11&quot;)Auroux1974">Hydra</a>, designed for coastal research and scientific studies.

Vard research vessel RV6000 keel laid

Vard has marked a major construction milestone for Inkfish's new 100-metre research vessel, RV6000.

Construction begins on Gabe Newell's 100m Inkfish research vessel RV6000

<img src="https://photo-assets.superyachttimes.com/photo/397057/image/large-4de87309467dff8f61f6d021318d49d1.jpg" data-gid="gid://syiq/Photo/397057">The 43-metre <a data-gid="gid://syiq/Company/2405" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hike Metal Works (Company)">Hike Metal Works</a> explorer yacht <a data-gid="gid://syiq/Yacht/3859" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Friendly Confines43.0m (141'1&quot;)Hike Metal Works2006">Friendly Confines</a> was spotted docked in Dublin, Ireland, late last May. According to AIS data, she is currently in Bergen, Norway, having arrived from Belfast earlier this month.Delivered in 2006 by the Canadian shipyard, the yacht was formerly known as Marcato and Copasetic. More recently, <a data-gid="gid://syiq/Yacht/3859" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Friendly Confines43.0m (141'1&quot;)Hike Metal Works2006">Friendly Confines</a> underwent an extensive refit at <a data-gid="gid://syiq/Company/4473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="STP Shipyard Palma (Company)">STP Shipyard Palma</a> between 2025 and 2026. Among her defining exterior features is a blue hull, which complements her rugged explorer profile.Her interiors were designed by <a data-gid="gid://syiq/Company/489" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gold Coast Design Studio (Company)">Gold Coast Design Studio</a>, while naval architecture and exterior design were penned by <a data-gid="gid://syiq/Company/2432" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Guarino & Cox (Company)">Guarino &amp; Cox</a>. With an internal volume of 491 GT, she can accommodate up to 12 guests across five well-appointed staterooms, attended by a crew of seven.In terms of propulsion, <a data-gid="gid://syiq/Yacht/3859" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Friendly Confines43.0m (141'1&quot;)Hike Metal Works2006">Friendly Confines</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, enabling a cruising speed of 13 knots and a top speed of 14 knots.

43m explorer yacht Friendly Confines in Dublin

The 43-metre Hike Metal Works explorer yacht Friendly Confines was spotted docked in Dublin, Ireland.

The 49.8-metre <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a> superyacht <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> sold in a deal with <a data-gid="gid://syiq/Company/1550" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Marketing (Company)">Marine Marketing</a> introducing the buyer, alongside Nathan Farrelly of <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> and <a data-gid="gid://syiq/Company/4795" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="One Brokerage Australia (Company)">One Brokerage Australia</a>. <img src="https://photo-assets.superyachttimes.com/photo/397051/image/large-5a5dce9decb30e6d016cb98d7fde34c4.jpg" data-gid="gid://syiq/Photo/397051">Delivered in 2018 as part of the <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen</a> 5000 Semi-Displacement series, <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> features exterior design by <a data-gid="gid://syiq/Company/55" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Omega Architects (Company)">Omega Architects</a>, with interior design penned by <a data-gid="gid://syiq/Company/205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cristiano Gatto Design (Company)">Cristiano Gatto Design</a> and naval architecture by her Dutch builder <a data-gid="gid://syiq/Company/54" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heesen Yachts (Company)">Heesen Yachts</a>.<a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> can comfortably accommodate up to 12 guests across a six stateroom configuration, with her master suite situated on the main deck forward, while her VIP suite, two doubles and two twin staterooms can be found on the lower deck.In terms of performance, <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> is equipped with twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, which propel her to a top speed of 23 knots and a cruising speed of 12 knots. At the time of the sale, <a data-gid="gid://syiq/Yacht/6105" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Daisy D49.8m (163'5&quot;)Heesen Yachts2018">Daisy D</a> had a last known asking price of €28,500,000.&nbsp;

Daisy D: 50m Heesen yacht sold

The 49.8-metre Heesen superyacht Daisy D sold, with a last known asking price of €28,500,000.

50m Heesen superyacht Daisy D sold

The 30.48-metre <a data-gid="gid://syiq/Company/466" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Hatteras Yachts (Company)">Hatteras</a> motor yacht <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> sold in a deal with Iain Lawrie of <a data-gid="gid://syiq/Company/322" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Merle Wood & Associates, Inc. (Company)">Merle Wood &amp; Associates</a> introducing the buyer and Michael Zaidan of <a data-gid="gid://syiq/Company/5149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Borden and Associates Yacht Sales (Company)">Borden &amp; Associates Yacht Sales</a> representing the seller.<img src="https://photo-assets.superyachttimes.com/photo/397019/image/large-1adf3cf22ae9625acf3be275898f7595.jpg" data-gid="gid://syiq/Photo/397019">Delivered in 2001, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> features exterior design and naval architecture by <a data-gid="gid://syiq/Company/326" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jack Hargrave (Company)">Jack Hargrave</a>. Spanning 180 GT, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> can comfortably accommodate up to 10 guests across a five stateroom configuration.&nbsp;In terms of performance, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> can reach a top speed of 24 knots and a cruising speed of 18 knots, thanks to twin <a data-gid="gid://syiq/Company/1497" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Detroit Diesel (Company)">Detroit Diesel</a> engines. At the time of her sale, <a data-gid="gid://syiq/Yacht/4478" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunday Money30.48m (100'0&quot;)Hatteras Yachts2001">Sunday Money</a> had a last known asking price of $1,450,000.(Image courtesy of Merle Wood &amp; Associates.)

Sunday Money: 31m Hatteras yacht sold

The 30.48-metre Hatteras motor yacht Sunday Money sold with a last known asking price of $1,450,000.

31m Hatteras motor yacht Sunday Money sold

Travelling to Sydney, Leona Caanen speaks with Luke Geelan, family man and owner of the&nbsp;<a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>&nbsp;fleet.Growing up with a passion for boating, and especially fishing, is Luke Geelan, Sydney native and owner of the 35.05-metre motor yacht <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>. Having spent most of his life around the water, it seems only natural for Luke to have moved into the world of boating. Overtime the yacht has come to resemble not only a connection to his past, but also to his future, getting to enjoy it with his family and friends, as well as sharing it with charter guests.<img src="https://photo-assets.superyachttimes.com/photo/388213/image/large-0b83e89d1054e69437b37ff303a35921.jpg" data-gid="gid://syiq/Photo/388213">A family passionGrowing up on a river in Sydney, Luke was introduced to the rhythms of tide and weather from an early age. “I’ve grown up with a passion for boating, my father taught me to water ski and sail as a young child” Luke shares. Over time, Luke exchanged sailing for wakeboarding and eventually game-fishing, depending his passion for being out at sea. This passion has remained a constant factor in Luke’s life, deepening even further once he could share it with his own kids.A few years ago, Luke sold his business and decided to step into boating in a more deliberate way by acquiring the 35-metre motor yacht <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>, built by <a data-gid="gid://syiq/Company/554" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyds Ships (Company)">Lloyd Ships</a> in Australia in 1986. Purchasing her in 2024, the yacht allowed for Luke and his family to explore the Australian coast with more comfort, as well as for them to get to share their passion for the sea. “My two boys are especially big on game fishing, and my daughter is very passionate about snorkelling and marine life”, says Luke. By acquiring <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>, it allows for the family to share their passions with one another.<img src="https://photo-assets.superyachttimes.com/photo/396937/image/large-131bb2f788c31defa0822382f533d318.jpg" data-gid="gid://syiq/Photo/396937">A three-part refitAs <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a> is from the 80s, she was in need of an upgrade when Luke purchased her. The refit has been phased and purposeful, with 2024 seeing the first of the three phases. The yacht spent September to November at the <a data-gid="gid://syiq/Company/3255" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gold Coast City Marina & Shipyard (Company)">Gold Coast City Marina &amp; Shipyard</a> where the bridge was upgraded, soft furnishings replaced and extensive paintwork completed. <img src="https://photo-assets.superyachttimes.com/photo/388209/image/large-c74eb7958e3e321e611bea0e2d9fee9c.jpg" data-gid="gid://syiq/Photo/388209">The second phase was centred around remodelling the saloon, with new flooring, carpeting and ceilings, as well as mechanical enhancements. Other upgrades included a beach club installation, complete with an inflatable pool, protective netting and a shaded cabana, which has proved particularly popular with charter guests. Possibly the most meaningful addition during this refit have been the zero-speed stabilisers, “my wife suffers from really severe seasickness, the stabilisers are essential in making the yacht comfortable for my family,” Luke shares.<img src="https://photo-assets.superyachttimes.com/photo/388210/image/large-06ec6524534531dc1f3ac942dd743803.jpg" data-gid="gid://syiq/Photo/388210"><a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>’s third and final refit will take place in 2027 and will see an upgrade of the crew quarters. Originally, Luke had hoped to finalise the refit this year, but the yacht’s agenda, both in charter and personal use, is almost fully booked for the calendar year, and Luke wants to ensure there is enough time for the refit: “Our crew is so amazing, I'm super lucky to have what I believe is the best crew.<img src="https://photo-assets.superyachttimes.com/photo/388187/image/large-fde4622fb25e3e416358ace496ed0104.jpg" data-gid="gid://syiq/Photo/388187"><a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a>&nbsp;juniorYet the 35-metre motor yacht is only half the story. Six months after acquiring the mothership, Luke secured what he describes as Australia’s leading game fishing platform: a custom-built 17.7-metre (58’0”) Assegai sportfisher. Designed specifically for marlin fishing along the country’s east coast, the yacht is equipped with a gyro stabiliser and, more recently, a Furuno Omni Sonar System capable of scanning 360 degrees around the vessel to significant depths, providing a technological edge in a pursuit that still relies on instinct and patience.<img src="https://photo-assets.superyachttimes.com/photo/396954/image/large-96857bf8151cfcd655d86dc3d061d704.png" data-gid="gid://syiq/Photo/396954">The reason for acquiring the fishing vessel to cruise alongside the mothership are his sons. Luke shares that “my sons and I have been game fishing together for the last five years or so,” and have even partaken in various competitions in- and around Sydney. “We’ve won a couple of state titles and other competitions,” a hint of pride sits in Luke’s voice. “My children in particular, have a passion for fishing, and I've just shared that passion, and supported it”, he adds.Lukes really enjoys fishing with his family and friends, on a recent trip to the Great Barrier Reef, the Shore Thing 58' landed a 1,223 pound Black Marlin. Yet Luke is quick to note that they’re conscious about the way they fish. “We only catch what we eat; everything else goes right back in the ocean. We’re not hunters, we just fish for the joy of it.”<img src="https://photo-assets.superyachttimes.com/photo/388186/image/large-a98a34adf0095495d9e5f32f36eb458e.jpg" data-gid="gid://syiq/Photo/388186">The joy of cruisingSome of Luke’s most cherished moments onboard are those with friends and family. “We hosted my 50th birthday onboard,” Luke shares, having chartered the yacht to Whitehaven Beach, located in the Whitsundays, “there were about 40 guests, all friends and family.”&nbsp;Possibly Luke’s favourite memory is the recent Christmas holiday onboard. “Spending time with our family and another family, sitting around and just having deep belly laughs over some beautifully cooked meals by our chef onboard.” Luke describes this as delightful and quite possibly one of the most memorable times onboard. “Your kids grow up so quick, getting to share such a beautiful time together and feeling like, as your kids become young adults, that you can really share laughs and stories. It was just special.”<img src="https://photo-assets.superyachttimes.com/photo/396938/image/large-04bc34860fd9bc9b421321a8d9f42e09.jpg" data-gid="gid://syiq/Photo/396938">The beauty of being on a boat is that it ties everyone together, whether that is his own family and friends, or guests who charter the yacht, for Luke, the joy of owning <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a> lies in “getting to share the joy with other people.”The yacht and her fishing counterpart offer not just a sense of luxury, but a space for guests to create memories and experience the beauty of the Australian coastline as they cruise <a data-gid="gid://syiq/Yacht/3832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Shore Thing35.05m (114'12&quot;)Lloyds Ships1986">Shore Thing</a> between the Great Barrier Reef, the Whitsundays and the Sydney Harbour.<img src="https://photo-assets.superyachttimes.com/photo/388177/image/large-2991a957e2fdb4ef0038789921600aa2.jpg" data-gid="gid://syiq/Photo/388177">

Owning the shore thing fleet 

A look inside Luke Geelan's charter fleet: his 35m Shore Thing and the 58' sport fisher chartering around Sydney.

"The joy of owning Shore Thing is getting to share it with others"

<a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom Yacht Equipment</a>&nbsp;has earned a prominent position in the superyacht supply chain for its bespoke boarding equipment, platforms, cranes, watertight doors and integrated control systems. Yet the engineering philosophy behind its custom-designed solutions is based on a resolutely modular approach.When Mervyn van der Ploeg was appointed managing director of <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom Yacht Equipment</a> in 2015, the company was going through a bad patch. It routinely redesigned everything from scratch for each new yacht project, leading to prototype-level inefficiencies and financial strain. A small but telling example is that it used to produce 32 different types of locking pins. Today, through a process of standardisation and modularisation, that number has been reduced to just two sizes.<img src="https://photo-assets.superyachttimes.com/photo/396743/image/large-c20dda6c39f046eea94eaa71057b9e2c.jpg" data-gid="gid://syiq/Photo/396743">“Previously, when designing a platform for a yacht, four different locking pins might have been specified, requiring multiple suppliers,” explains van der Ploeg. “Now, we buy 200 locking pins per year in two sizes from a single supplier at half the cost.”The process began by redesigning a prototype passerelle from scratch using a fully modular approach, which then became a template for other equipment. While remaining a supplier of custom equipment, modular components are now reused across <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s product range, reducing design complexity and streamlining production.“A key technical insight came from looking outside the yachting industry,” continues van der Ploeg. “For example, swivel joints originally designed for excavators have been incorporated into our gangways. These components are proven, industrial-grade and standardised, which means we can build highly reliable systems without reinventing core mechanisms.”In the ten years since van der Ploeg joined the company, turnover has more than doubled from €12 million to €25 million, driven by increased efficiency along with larger yachts and a rising demand for integrated equipment.<img src="https://photo-assets.superyachttimes.com/photo/396739/image/large-d48d0f06ceeb5a00cfda9bafe1c96878.jpg" data-gid="gid://syiq/Photo/396739">Make it modularThe spin-off from <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s modular way of thinking are innovations designed to maximise open space while eliminating visual clutter. Many of these solutions revolve around relocating drive systems into hinge lines and the platform structures themselves. In one recent project, a large side platform was initially conceived as two separate elements with a manually installed infill piece. While technically feasible, it was operationally awkward. Instead, by introducing an internal hinge drive already proven elsewhere, the entire system was re-engineered as a single monolithic platform. The infill was eliminated, deployment became faster, crew workload was reduced, and the geometry became cleaner.<img src="https://photo-assets.superyachttimes.com/photo/396744/image/large-4feaec6057dc57f70fe27a2f2a88296b.jpg" data-gid="gid://syiq/Photo/396744">The Sliding Stairs Access Hatch is another example. Developed in response to a request to optimise the passage from the main deck to the beach platform on <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship’s</a> 79.5-metre <a data-gid="gid://syiq/Yacht/11677" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Valor79.5m (260'10&quot;)Feadship2025">Valor</a>, <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s engineers merged door, hatch and boarding equipment components to create a completely new solution. Essentially, the staircases on each side of the pool form the hatch itself, with half of each staircase retracting into the deckhead like a gangway to provide access to the beach club.<img src="https://photo-assets.superyachttimes.com/photo/396742/image/large-bd76338bca2c0e5436acede35e416f93.jpg" data-gid="gid://syiq/Photo/396742">“This marked a next step in modular engineering for <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>,” says van der Ploeg. “Our approach not only accelerated the development process, but also showed how modularity enables flexible, cross-disciplinary solutions without compromising quality.”As both staircases form part of the watertight boundary of the vessel certified by Class, one of the main challenges was ensuring watertight integrity, given the angle at which the stair hatches are installed, as well as aligning the treads between the hatches and the fixed structures. In fact, sealing has become a central issue as stern structures grow more complex – folding, rotating and closing at compound angles. While inflatable seals are often the go-to solution and offer excellent theoretical performance, they also represent a single point of failure. <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> typically prefers D-profile rubber seals, which wear gradually, remain locally manageable, and allow temporary mitigation.<img src="https://photo-assets.superyachttimes.com/photo/396741/image/large-cf52ffb86158af5f4ac7a5922058d9b5.jpg" data-gid="gid://syiq/Photo/396741">“This approach is especially critical for Lloyd’s-certified watertight items such as split transom doors closing at different angles, where corners and junctions between curved surfaces become critical failure points,” van der Ploeg points out.Such solutions highlight how <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> has evolved beyond developing hardware to innovating the onboard experience, a strategy that has resulted in multiple patented solutions, from pop-up gangways embedded in the stern platform to protective cabrio covers engineered to fold, stack or nest completely out of sight when not in use. At the last edition of <a data-gid="gid://syiq/Company/4374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Metstrade (Company)">Metstrade</a>, the company presented five interactive aft deck models through immersive 3D visualisations showcasing how engineering, design and user experience increasingly converge in the early phases of yacht development.<img src="https://photo-assets.superyachttimes.com/photo/396745/image/large-b406b1bef2a73b0811b05344a273be7e.jpg" data-gid="gid://syiq/Photo/396745">Under controlAnother defining feature of <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s approach is that its control systems and programming are all developed in-house. Precise timing between electronic commands, hydraulic oil flow and mechanical motion is critical, as are programmed delays that account for inertia and mass. Most systems employ frequency-driven power packs rather than simple on/off hydraulics, resulting in smoother movement, lower noise levels and the elimination of hydraulic ‘hammer’ effects. Automated operating cycles manage sequencing, speed and end-of-stroke deceleration automatically, reducing the risk of impact damage and operator error. Before delivery, full functional testing is carried out in-house, often with owner representatives present.Enclosed helicopter lifts represent some of the most complex control systems <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> has delivered. On yachts such as the 85.95-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/234" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ecstasea85.95m (281'12&quot;)Feadship2004">Ecstasea</a>, the 96.6-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/5936" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sophia96.6m (316'11&quot;)Feadship2017">Sophia</a> (ex-Faith), 99-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/2074" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Madame Gu99.0m (324'10&quot;)Feadship2013">Madame Gu</a> and the 102.6-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/10678" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ulysses102.6m (336'7&quot;)Feadship2024">Ulysses</a>, these lift assemblies rely on synchronised spindles and highly precise control algorithms to ensure uniform vertical motion. Ironically, real-world usage of helicopter lifts has revealed an interesting pattern:&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/396746/image/large-793a08021cda2fc7bab19c3cd8f1a821.jpeg" data-gid="gid://syiq/Photo/396746">“On some yachts, the heli hangars are no longer actively used and instead function as static storage platforms,” reveals van der Ploeg. “In such cases, owners may even suspend servicing altogether – an illustration of how operational reality can diverge from original design intent.”Developments in control systems are being matched by advances in data intelligence. During the COVID period, <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> expanded its remote-support capabilities and identified a recurring issue: when faults occur, crews often cannot describe what happened beyond “pressing the button”. To address this, its latest systems incorporate data logging that records each operating cycle, sequence order, timing, load condition and fault event with precise timestamps.“When an issue arises, engineers can trace it back to the exact operating condition that caused it,” explains van der Ploeg. “While still being rolled out primarily on new-build projects, data logging represents a shift towards evidence-based rather than purely scheduled maintenance.”Across <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s predominantly hydraulic product range, failures rarely originate in the actuators themselves. Instead, the most vulnerable areas are where forces converge – locations where multiple loads are transferred into a single structural interface. Passerelles are a prime example:“Forces are transmitted through long, slender structures back to a limited number of mounting points,” explains van der Ploeg. “When additional functionality is introduced, such as lateral slewing rather than straight-line deployment, those forces increase substantially.”<img src="https://photo-assets.superyachttimes.com/photo/396750/image/large-74a75f9786460908e4bf98d749448420.png" data-gid="gid://syiq/Photo/396750">Bonding and bolt-inSome <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> passerelles now extend up to 16-metres in length, pushing the limits of lightweight structural engineering while maintaining stiffness, safety margins and regulatory compliance. Designing these interfaces requires careful attention to geometry, material thickness and fatigue behaviour.Marine-grade aluminium remains the primary structural material, selected for its high strength-to-weight ratio and corrosion resistance. Steel is used selectively in high-load interfaces where stiffness and wear resistance are critical. Carbon fibre has also been deployed strategically, particularly in the outermost sections of passerelles. Reducing mass at the extremity lowers bending moments throughout the structure, enabling greater reach without adding reinforcements.&nbsp;A more recent addition to <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a>’s fabrication methodology is the introduction of structural adhesive bonding. In lightweight aluminium constructions, particularly passerelles, welding thin sections sometimes caused unacceptable deformation due to heat input. To address this, <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> now uses a hybrid method: components are positioned with bolts to prevent movement, while the structural adhesive provides the primary load-bearing bond. In this configuration, the bolts act purely as locators and the adhesive carries the load.Another key evolution is the move towards bolt-in housings for boarding equipment such as passerelles and swim ladders. Historically, these housings were built directly into the hull, placing installation and testing squarely on the shipyard’s critical path. This new approach uses self-contained housings that are assembled and factory-tested in-house, accepted by owners or representatives, and installed later as plug-and-play units.“Once delivered, the housing is bolted into place, hydraulics and electrics are connected, and functionality is assured – eliminating the risk of delays, rework and repainting,” says van der Ploeg.<img src="https://photo-assets.superyachttimes.com/photo/396752/image/large-1ea3884318d73cd6441f8d9cf8801f9c.jpg" data-gid="gid://syiq/Photo/396752">Breaking outSolely owned by <a data-gid="gid://syiq/Company/4951" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Koninklijke De Vries Scheepsbouw (Company)">Koninklijke De Vries,</a> until recently <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> worked exclusively within <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a>. It is now pursuing a more open strategy, with roughly 60% of turnover derived from <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> new-build projects, 25% from service and refit work on existing <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadships</a>, and the rest from other shipyards – a share that continues to grow as the company expands its marketing network.An early major non-<a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> contract was with <a data-gid="gid://syiq/Company/4644" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AKYACHT (Company)">AKYACHT</a> in Turkey for its 120-metre-plus project (NB012) due for delivery in 2030. Another is the new <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA</a> Custom 80 currently under construction at <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA Yachts</a> in Ancona. The <a data-gid="gid://syiq/Company/201" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="ISA Yachts (Company)">ISA</a> client, an experienced <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a> charterer, specified <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> to supply the boarding systems with which he directly interacts – in total, five independent mechanical systems with fully integrated control logic.<img src="https://photo-assets.superyachttimes.com/photo/396754/image/large-0eae94a6e941a08764d18f82632bee1f.jpg" data-gid="gid://syiq/Photo/396754">Across all these developments, a clear evolution emerges. <a data-gid="gid://syiq/Company/5438" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Akerboom Yacht Equipment (Company)">Akerboom</a> has progressed from boatbuilder to specialist supplier, system integrator and, ultimately, lifestyle collaborator. Each project begins by asking what experience the owner, designer or shipyard wants to achieve. From there, complexity is carefully analysed and engineered so that systems are notable precisely for their absence – seeming to disappear once installed, leaving spaces that feel more open, intuitive and fully resolved.<img src="https://photo-assets.superyachttimes.com/photo/396753/image/large-24074ca4b4f597fe6f6d7ba61d16b96a.jpg" data-gid="gid://syiq/Photo/396753">

Standardising the bespoke: The engineering behind custom superyacht equipment

Akerboom Yacht Equipment explains how modular engineering is reshaping its custom superyacht boarding systems, platforms, cranes and control systems.

The fourth 53.25-metre <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> YS53 yacht support <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> has been delivered to her owner, following her launch in March 2026 from the <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> facility in Antalya, Turkey. <img src="https://photo-assets.superyachttimes.com/photo/397013/image/large-c33b6dbec1e5da99757b484375d47d5b.jpg" data-gid="gid://syiq/Photo/397013">Designed to operate either alongside a mothership or independently, <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> has been crafted in-house by her builder <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>, which were responsible for her interior, exterior and naval architecture.&nbsp;Created around family experiences, shared moments on the water and operational purpose <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> will now serve as a purposeful extension of her owner's fleet, where she has been developed to provide additional space, support and flexibility.<img src="https://photo-assets.superyachttimes.com/photo/397012/image/large-e7a8adfa9276e3affbe8d0454cf3c3d4.jpg" data-gid="gid://syiq/Photo/397012">"From the outset, &nbsp;there was a clear vision for how the owner wanted to use YS53 <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> and the role she would play within the fleet," explained Rob Dolling, Owner’s Representative. "Together with Damen Yachting, we were able to translate those wishes into a vessel that is highly functional, personal and closely aligned with the owner’s programme."<a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> can comfortably accommodate up to eight guests, as well as 10 crew plus her captain. Her interior reflects the owner’s personal style, combining timeless elegance with Old English influences throughout. <img src="https://photo-assets.superyachttimes.com/photo/397011/image/large-c5c4c4fd9fd1617d2fa194c1f00b061d.jpg" data-gid="gid://syiq/Photo/397011"><a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> boasts the brand’s signature axe bow, while her reinforced deck supports touch-and-go helicopter operations. With a generous open main deck of more than 200 square-metres, this versatile space can be used for large tenders, toys and specialised equipment.This is complemented by a 15-tonne crane, enabling the handling of substantial tenders and heavy loads. With a volume just shy of 500 GT, she can accommodate up to eight guests, along with a crew of eight.<img src="https://photo-assets.superyachttimes.com/photo/397010/image/large-d904abeb9d80368dab56f223768c6958.jpg" data-gid="gid://syiq/Photo/397010">"As the fourth Yacht Support 53 delivered by <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a>, she reflects the versatility of the Yacht Support range within modern superyacht ownership and has been created with a very clear purpose," concluded Jan van Hogerwou, Commercial Executive USA.Crafted with a steel hull and aluminium superstructure, <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</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, which provide her with a cruising speed of 12 knots and a top speed of 19 knots. Once her sea trials are complete, <a data-gid="gid://syiq/Yacht/13202" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Rafter53.25m (174'8&quot;)Damen Yachting2026">Rafter</a> will prepare for delivery to her owner. &nbsp;

Rafter: Fourth Damen Yachting YS53 yacht on sea trials

The fourth 53.25-metre Damen Yachting YS53 yacht support Rafter has been delivered following her launch in Antalya, Turkey in March 2026.