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Two long-established German shipyards, Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug, have filed for insolvency amid ongoing financial difficulties faced by their parent company, Tennor Group, and its owner, Lars Windhorst.District courts in Flensburg and Neumünster have appointed lawyers Christoph Morgen of Brinkmann & Partner and Hendrik Gittermann of REIMER as provisional insolvency administrators. These filings follow months of instability and reported mismanagement, during which the shipyards struggled to meet operational costs and payroll obligations.On Monday, Schleswig-Holstein’s public utility provider threatened to cut off power at the Rendsburg facility after unpaid bills dating back to December 1. The shutdown was temporarily postponed because a federal police vessel remained at the yard for repairs.The financial collapse has affected around 500 employees at both facilities, leaving many uncertain about their future before the holiday season. Some have already lost their jobs. At a recent rally in Flensburg, workers’ union representatives claimed delayed salary payments, including outstanding November wages and Christmas bonuses. Jan Brandt, chairman of the Flensburg Works Council, accused Windhorst of repeated dishonesty and unkept promises regarding timely compensation.In recent months, workers, unions, and political figures have criticized Windhorst, citing poor management and lack of transparency. Schleswig-Holstein’s Economics Minister, Claus Ruhe Madsen, urged Windhorst to assume responsibility and consider selling the shipyards. With insolvency proceedings now underway, new investors may have the opportunity to restructure operations and stabilize the workforce.Tennor Group took over FSG in 2019 and rebranded it as “FSG 2.0,” but failed to secure the orders needed to ensure long-term viability. In 2021, FSG acquired Nobiskrug following the latter’s own insolvency proceedings, though this acquisition did not resolve ongoing financial problems. During summer 2024, the federal government withdrew a €62 million grant intended for LNG bunker ship construction at FSG, citing insufficient equity from Tennor.The provisional insolvency administrators are now working to resolve existing projects, including a RoRo ferry at FSG and a yacht at Nobiskrug. They may seek interim financing from federal and state governments until clients accept completed projects and provide payment. Insolvency pre-financing has been arranged to secure compensation for approximately 340 employees in Flensburg and 140 in Rendsburg through January 2025, covering overdue November salaries.Local officials and industry observers have suggested that FSG should pivot to manufacturing components for offshore wind energy projects to meet growing market demand. Others have recommended that Nobiskrug broaden its portfolio to include commercial vessels. With new ownership and strategic adjustments, the shipyards may still find opportunities to recover and rebuild their reputations in the maritime industry.German shipyard Nobiskrug was founded in 1905. Recognised today as one of the world’s foremost builders of spectacular fully custom superyachts, the shipyard is famous for the 92m Tatoosh, the award-winning 68m Sycara V, the 74m Mogambo, the 143m industry-changing Sailing Yacht A, and the environmentally innovative 80m Artefact.Credits: Nobiskrug

Azimut has received three industry accolades in China, reflecting its focus on technological innovation, sustainable design, and luxury interiors. The honors include a Best of the Best Award 2024 from Robb Report China for the Seadeck 6, and two China Yacht Awards 2024 from Oceanway magazine for the Azimut Grande Trideck and the Azimut Grande 26M.Azimut Grande 26MSeadeck 6 Honored by Robb Report ChinaThe Seadeck 6 earned the Best of the Best Award 2024 from Robb Report China, with judges citing its approach to sustainable yacht design and operations. The vessel’s construction utilizes carbon fiber to reduce weight and features a streamlined hull aimed at lowering energy consumption. Seadeck 6A “Fun Island” concept was introduced, merging indoor and outdoor living spaces and enhancing the connection with the sea. In addition to the use of alternative, sustainable materials like cork and recycled fabrics, the Seadeck 6’s mild hybrid system allows zero-emission operation at anchor and reduces fuel use while cruising.Azimut Grande Trideck main saloonAzimut Grande Trideck and Grande 26M Recognized at China Yacht Awards 2024At the China Yacht Awards 2024, organized by Oceanway magazine, Azimut’s Grande Trideck was named Superyacht of the Year in the 30M to 40M category. Judges praised the yacht’s design, which adds a dedicated Sea View Terrace to the three traditional decks, creating a “+one” layout that enhances outdoor living and maximizes the vessel’s connection to the ocean environment.Seadeck 6 saloonThe Azimut Grande 26M received the award for Best Interior Design in the 24M to 30M category. The jury noted the yacht’s attention to interior layout and detail, featuring a main deck master cabin with full-height windows and a layout focused on comfort and natural light. The craftsmanship and choice of materials were also recognized as contributing to the yacht’s overall sense of refinement.Azimut Grande 26M saloonCommenting on these recognitions, Enrico Chiaussa, Azimut’s Chief Commercial Officer for EMEA-APAC, stated that the awards highlight the company’s commitment to innovation, sustainability, and careful craftsmanship across its product range.Azimut Grande Trideck Azimut, founded by Paolo Vitelli in 1969 and part of the Azimut|Benetti Group, offers owners around the world a wide range of motor yachts from 42 to 144 feet in length, organised in seven series (Verve, Atlantis, Magellano, Fly, S, Grande and Seadeck). The brand stands out for the spirit of innovation that puts it at the forefront of trends and solutions in technology and design recognised throughout the world of yachting.Credits: Azimut

Heesen Yachts has announced the keel laying of Project Evita, a 57-meter all-aluminium yacht currently under construction at the company’s facility in Oss, Netherlands. The new vessel, featuring a shallow draft suitable for cruising the Bahamas, is designed to reach a top speed of 22 knots at half load.“To achieve such a high top speed, the yacht must be lightweight, so we are naturally building in aluminium – something that we here at Heesen have elevated into an art form over the years,” said Peter van der Zanden, General Manager of Design and Development at Heesen Yachts. “The vertical bow guarantees a long waterline length for maximum efficiency and speed potential, while the aft end is composed of complex sweeping curves. This yacht will be unmistakable when she enters a new harbour.”The exterior, designed by Omega Architects, includes an elongated profile and a distinctive scoop-shaped stern with sharp angles and dynamic lines. As the second vessel in Heesen’s new 57m Aluminum Class with FDHF, Project Evita has a volume of 780 GT.Inside, Harrison Eidsgaard’s interior design accommodates up to 12 guests in six staterooms. A central elevator connects all three decks. Amenities include a pool on the main deck aft and a transom lazarette for water toy storage.Project Evita is scheduled for delivery in the second quarter of 2027.Heesen Yachts is a Dutch ship building company that specializes in custom-built superyachts in aluminum and steel from 30m to 70m in size. Founded in 1978, it has launched more than 170 yachts since its inception.Credit: Heesen Yachts

Sea Ray has announced that it will present its first Europe-produced surf boat, the SDX 270 Surf, at the 56th Boot Düsseldorf international boat show, scheduled for 18–26 January 2025. The event will mark both the European premiere and the launch of European production for the model.The SDX 270 Surf was initially introduced in the United States in 2024. According to the company, the boat incorporates Sea Ray’s NextWave surf system, designed to produce customizable waves for various watersports. With electric surf tabs, active trim, and three ballast tanks totaling 1,900 pounds, users can adjust wave height and length to match their preferences. A bow thruster has been added to assist with maneuverability and docking.Brunswick-owned Sea Ray’s decision to expand production to Europe follows what the company has described as strong early retail performance, despite a challenging 2024 for the parent company. CEO David Foulkes noted in April that the brand’s new models contributed to market share gains at earlier boat shows.“We are excited to introduce the SDX 270 Surf to the European market,” says Keith Yunger, president of Sea Ray. “Our redesigned SDX line bridges the gap across generations bringing families together to enjoy a day on the water. The popularity of wake surfing continues to grow, and we are pleased to use the spotlight of Dusseldorf to highlight our entrance into surf boat production in Europe, and to showcase our exceptional 2025 Sea Ray lineup.”In addition to the SDX 270 Surf, Sea Ray will showcase its Sundancer cabin cruisers, including the Sundancer 370, 320, and 265. The Sundancer series will mark its 50th anniversary in 2025.Other models on display at the Sea Ray booth will include the SLX 400, SLX 500, SDX 290, SDX 270, SDX 250, SDX 250 Outboard, SLX 260, Sun Sport 250, Sun Sport 230, SPX 230, SPX 210, and SPX 190 Outboard.Credit: Sea Ray

Custom Line has introduced the Custom Line 50, described as “the first 50-metre superyacht built entirely from aluminium” and “the new displacement flagship” that “makes her debut in the metal yachts segment under 500 GT.” The yacht, measuring 49.90 meter in length with a 9.60-metre beam, spans four decks and has a gross tonnage of about 260 GT.Key features include an owner’s suite positioned in the bow on the upper deck, a configuration typically found on larger vessels. The design also incorporates a beach club with an infinity pool integrated into the main deck, forming a 120-square-metre area designed to enhance the connection with the water. With a draught of 2.2 meter, the yacht is intended for cruising and mooring in areas such as the Caribbean.According to the press release: “More than a superyacht, Custom Line 50 is a statement of forward-thinking design, engineering excellence and conscious exclusivity.”The project results from collaboration between the Strategic Product Committee led by Piero Ferrari and the Ferretti Group Superyacht Yard Engineering Department in Ancona. Architect Filippo Salvetti designed the exterior, while Studio ACPV ARCHITECTS Antonio Citterio Patricia Viel developed the project architecture and interiors. The brand’s team provided project management, guiding the owner through customization and execution.Guest accommodations include a master suite on the upper deck and four lower-deck cabins, for a total of up to 12 guests. Five crew cabins are configured to house nine crew members. The yacht’s layout emphasizes privacy, with separate guest and crew circulation paths. Exterior styling uses clean lines and horizontal elements for a sense of harmony.The Custom Line 50 introduces “an unprecedented feature for the segment,” with a deck devoted entirely to the owner. This 75-square-metre owner’s apartment includes a panoramic cabin with wraparound windows and a private terrace.Interiors incorporate a concept based on three-dimensionality and materiality, utilizing Canaletto walnut, leather, ivory-colored wallpaper, and marble cladding in bathrooms. Mirrored surfaces and large curved windows aim to create a feeling of openness, integrating indoor spaces with the seascape. Outdoor areas are organized into a series of terraces and lounges. A two-level beach club at the stern is connected to an infinity pool on the main deck, while upper decks and a sun deck offer dining areas, lounges, and a hydromassage pool.Propulsion is supplied by two CAT C32 ACERT engines for a top speed of 16 knots and a range of about 4,500 nautical miles at an economy cruising speed of 10 knots. The yacht is designed with IMO Tier III-certified SCR systems to reduce emissions. Stabilization is managed by CMC Marine fins, and onboard systems aim to balance performance and reduced environmental impact.Credit: Custom Line