Recently, many world’s marinas have gone through deep restructuring to strengthen their offering and compete for superyachts' attention. At the core of this pivotal moment for yachting infrastructure, however, stood Porto Montenegro, one of the first purpose-built superyacht hubs. During the MYS 2019, the plans for further development of one of the 10 most stunning European superyacht marinas got revealed. The project of Porto Montenegro dates back to 2007, when Peter Munk, a Hungarian-born Canadian businessman purchased a site in Montenegro for €23 million, with the purpose of building a superyacht marina that would rival mainstream destinations. With backing from LVMH Chairman, Bernard Arnault, Russian oligarch, Oleg Deripaska and Lord Jacob Rothschild, the Barrick Gold founder set out to develop the largest private-sector investment in the country.Located near the coastal city of Tivat, Porto Montenegro's ambition was to become a homeport for some of the world's largest yachts by providing their crew and visiting owners with high end facilities. The development also included the construction of a strong ecosystem around the marina with condos, restaurants and a five star hotel.Over its several years of development, Porto Montenegro caught the eye of new investors and in May 2016 it was confirmed that the development was acquired the Investment Corporation of Dubai, the city-state's investment arm. Currently, Porto Montenegro has 450 berths for yachts from 12 to 250 meters in length (with a capacity to expand to 850 berths), 300 sold-out luxury apartments, as well as 60 units of ground floor retail with restaurants, bars, cafes, shops and amenities and a five-star Regent Hotel with over 130 luxury suites and apartments.During a private event at the Monaco Yacht Show 2019, Porto Montenegro announced it was going to invest over €500 million in further development and new projects on site over the next 10 years.Danilo Kalezic, Senior PR and Marketing Manager at Porto Montenegro, stated:We are currently only building on 30 percent of a vast 24 hectares that once belonged to the Arsenal, a former Yugoslav naval base. To date, we have invested €500 million and I believe that in the next 10 years, we’ll invest additional €500 million to develop half of the remaining land. This is difficult to predict because the site study is still being adopted but we’re on the right track.He also emphasised, that the Porto Montenegro village has been transforming from a summer destination to a year-round regional lifestyle-centre and multi-faceted business hub.What is more, in 2019 the Regent Pool Club Residences, consisting of apartments and penthouse suites, positioned adjacent to the five-star Regent Porto Montenegro hotel, was completed. The space contemporary design with elements of Venetian and Italian aesthetics, by London’s WATG Architects and MHZ Paris.In addition, the managers reported the summer season 2019 to be one of the most successful ever for Porto Montenegro. The village hosted such top-level events as the first RC44 regatta, the Gigayacht Captains Forum, the Sunreef Yachts rendezvous and Gumball3000 supercar rally, along with music, fashion and wine festivals. Danilo Kalezic expressed on the high number of yachts and residential clients:All berths for yachts under 30 metres were fully occupied this summer and overall occupancy was 11.5% higher compared to 2018. In the winter season, we recorded a 10.5% increase compared to last year.Alongside continued upgrades to Porto Montenegro Yacht Club, the village also embraces new business dimensions, offering co-working spaces and new office hubs. In 2019, Porto Montenegro also welcomed its first family office for new business residents, with Monte Carlo Yachts, Beneteau, and Sunreef Yachts among them.Meanwhile, Damen, the Dutch group behind Amels, has entered into a contract with Adriatic Marinas and the government of Montenegro to develop a superyacht repair and refit facility in a former shipyard in Bijela, Boka Bay. It is expected to become fully operational in 2021.
October 22, 2019
On October 7, a brand new 38-metre superyacht Westport 125 crashed into a fuel dock Port Angeles Boat Haven in Washington, DC. The dramatic incident was captured by surveillance cameras, causing an overall damage of reported $100,000 to the berths and several smaller vessels on her way.According to media sources, the superyacht was moored at a fuel dock at Port Angeles Boat Haven just outside of Seattle, Washington. The release by Clallam County Sheriff's Office states the yacht was expecting fuelling. The mooring lines were secured to the dock but the fuelling process had not yet begun, at the moment of the accident.Suddenly, the superyacht accelerated from the fuel dock by herself, colliding with several docks and at least seven other boats. The most extensive damage was caused to a research vessel named the Kuapio Kohola. Fortunately, no injuries were reported.At the moment, the cause of the accident remains under investigation. A crew of 6 employees, including the Captain, were on-board at the moment of the collision. Importantly, alcohol and drugs are not suspected. Some suggestions indicate the reason of the collision could be a malfunction of on-board electronics. Meanwhile, Westport shipyard promised to fully compensate for the caused damage.The 195-ton superyacht was built by Westport in 2018. With a beam of 8 metres and a draft of 1.75 metres, she has a GRP hull and GRP superstructure. Designed by Westport, the motor yacht can accommodate 10 guests across 5 cabins. Powered by MTU engines of 2600 hp each, Westport 125 can reach a maximum speed of 25 knots and a cruising speed of 20 knots. Her maximum range is estimated at 2,500 nautical miles.According to the Peninsula Daily News, the yacht owned by Westport, was getting ready to travel to Fort Lauderdale, Florida, for delivery to her new owner. Earlier, she was listed for sale, asking $20,495,000.
October 22, 2019
Key annual event of the yachting industry, the Monaco Yacht Show, took place from 25 to 28 September this year. Traditionally, it featured the most impressive fleet of acclaimed superyachts and new-builds, even attracting a record-breaking number of exhibitors this year. The largest number in the show’s history, 600 companies came to energize the yachting market, drawing an encouragingly vast and committed clientele to the show.Check Yacht Harbour’s list of the TOP 10 most impressive superyachts seen at the MYS 2019’ edition here.The organisers report, after the 29th edition of the MYS, feedback from the exhibitors is pragmatic and positive: although the market could be stronger, positive signs are to be noted, including the higher number of private visitors present at Monaco’s Port Hercule this year. Furthermore, several sales deals have been closed after the show, such as 67-metre Heesen superyacht Project Sparta for 2023 delivery or 125-metre Project Jag signed by Lürssen.The MYS private concierge service invited over 211 VIP visitors (compared to 150 in 2018), linking them up with the show’s exhibitors and triggering over 50 yacht visits. The majority of the potential clients came from the USA, Russia, the UK, China and India. According to the exhibitors’ feedback, the definite trend in visitor profile comprises a broader range of countries and a wider age bracket.During the major event in the world of luxury yachting, some of the latest superyacht projects, technologies and joint ventures have been unveiled by the leading yards. The list of premiered concepts included among others Falcon Rig Gallery by Perini Navi or 70-metre superyacht project S702 by Tankoa.Bringing together some of the most outstanding vessels, the show increased in attendance this year by the albeit slight (31,565 visitors compared to 30,400 in 2018).This year’s edition of the MYS showcased 125 superyachts with an estimated total worth of around €4 billion, the most impressive fleet of vessels ever to be presented there. The superyacht exhibition included 44 new models and 14 megayachts over 70 metres in length, not to mention the 111-metre TIS and the 106-metre Amadea. Although the average length remained stable at 49.5m, the average price for a motoryacht exhibited at the show reached €37.8 million this year. 600 participating companies occupied a large section of Port Hercule, split into different themed areas. Yacht builders, brokers and designers set up their stands on the quaysides, close to their yachts. Tender and water toy manufacturers showcased no fewer than 55 pieces of equipment, with half of them presented for the first time. Their stands were mainly situated on the port’s Quai Antoine Ier, where the yacht show’s Car Deck displayed 30 collector or custom-built cars and motorbikes. The show’s many nautical equipment manufacturers and country pavilions were set up in tents on the port’s Darse Sud and Quai Albert Ier. The Parvis Piscine tent was dedicated to luxury products and services, with a fully revamped Upper Deck Lounge, reserved for the show’s partners from the luxury industry, spanned over 2 floors.On the eve of the MYS, 4 prizes were awarded at the 6th Monaco Yacht Show Superyacht Awards ceremony. The list of winners comprised three vessels. The 64-metre Sanlorenzo flagship superyacht Attila received the MYS/RINA Award for her design that complies with the environmental standards established by RINA. The brand new Lürssen superyacht TIS picked MYS Interior Design Award. Last but not the least, the 80-metre Abeking & Rasmussen Excellence won two prizes, the MYS Exterior Design Award, and the ceremony’s most prestigious award, the MYS Finest New Superyacht Award.The release expresses:The 2019 MYS carried a note of optimism, supported by its exhibitors' commitment to showcasing their finest products and services and by an increasingly varied final-client profile. The date has been set for next year’s event to confirm this positive trend on the Monaco Yacht Show’s 30th anniversary.
October 21, 2019
The 91.5-metre Oceanco superyacht Tranquility has been listed for sale via Camper & Nicholsons, who has been responsible for her charter management. The superyacht was acquired for $126,000,000 by Genting Malaysia Bhd in April 2019, as a result of corruption scandal linked to Jho Low.The long running saga around the yacht dates back to August 2018, when the Indonesian authorities seized Low Taek Jho’s superyacht at the request of the US Department of Justice, and transferred her to Malaysia. It is alleged, that the yacht was originally purchased by Low Taek Jho using money embezzled from the 1MDB state fund.Shortly afterwards, Tranquility was put on sale as a part of the effort to recover funds stolen by Low and his cohorts from the state fund, according to The Independent. In the meantime, the vessel’s maintenance had cost the government over $3,500,000 since her reclaiming in August 2018.After several rounds of sale process, the highest bid was received from Genting Group, a Malaysia-based investment holding and management company, engaged in
October 21, 2019
One of the leading Dutch builders, Heesen has announced the sale of YN 20067, a 67-metre steel FDHF fully designed by UK-based studio Winch Design. With her delivery scheduled to 2023, she is the third sale by Heesen in 2019.First presented at the Monaco Yacht Show 2018 as Project Avanti, this new design has captured the attention of the client with its dynamic architecture. The owner, an experienced charterer and yacht connoisseur, has appointed Arcon Yachts as project manager. The elegant sheer line of Project Sparta connects a strong bow to an inviting transom, trademarked with a stepped aft deck area with a five-metre infinity pool. The yacht also features a raised pilothouse conceived by Winch Design for a new-look sporty profile.With a top speed of 16 knots and FDHF devised by Van Oossanen, Project Sparta is said to be extremely efficient, too. She features a maximum range of 4,500 nautical miles at 12 knots. The superyacht features impressive interior volume of 1,200 GT. The layout is characterised by a full beam salon on the main deck. This feature, unique on a vessel of this size, makes Project Sparta a true pocket mega-yacht. The indoor dining area connects to the aft deck terrace, which is protected on both sides for optimal comfort, and allows for a smooth transition, both at anchor and when underway. Four guest suites are located forward on the main deck. Thanks to a sliding partition, the two forward cabins can convert to a full-beam VIP.An off-centre spiral staircase with glass elevator services all three decks. The lower deck houses a walk-in wellness area with oval Jacuzzi, sauna, steam room and gymnasium, as well as the crew quarters and galley.The owner has reserved the entire bridge deck for himself. Two suites are located one forward with its private outdoor lounge area located fore, and the other facing aft with access to the private terrace with outdoor dining and lounging.Meanwhile, the yard has just shared construction update on 60-metre steel Project Falcon. The builder also confirms that no less than 13 yachts are currently under construction at Heesen facility.
October 21, 2019