In early 2014 it had emerged following multiple reports in Italian media that Privilege Yard, a shipyard based in Civitavecchia was in financial distress. These reports of unpaid wages might have gone unnoticed if it wasn't for the 127m project the shipyard was working on at the time.
P430 at the shipyard
The P430's construction started in 2008 with financial backing from the yacht's future owner and a consortium of five Italian banks. The yacht's construction was taking place at a 65,000 square-meter facility in Civitavecchia that Privilege Yard spent close to €40 million on according to Il Sole.
At the time, the shipyard claimed it had near 1,300 employees and 9 orders for yachts of similar sizes lined up. The effort was led by Mario La Via, an Italian entrepreneur involved in the construction of several yachts, the most notable of which was the Kingdom 5KR (largest yacht in the world at the time of launch).
Designed by Abdeslam Laraki, the P430 was expected to be launched by the end of 2012. In December 2012, it was however divulged that one of the banks (Banca Etruria) had encountered problems and put a stop to the project's financing. The shipyard had received a loan of €100 million from these banks according to Repubblica. The project was later self-funded by La Via, according to a statement by the shipyard, but construction eventually stopped in March 2014.
The gates were then reported to be locked at the shipyard in June 2015 by the Court of Civitavecchia after the company failed to settle its €210 million debt. The next development in this story came in June 2016 as the first auction came to a close without a buyer. The starting price was set at €94 million for the shipyard's facility and its assets, including the P430.
"82% complete financially" according to an advert placed by the shipyard marketing the P430 for sale at an asking price of €279,000,000, the yacht has over €80,000,000 in upgrades. This brochure used to market the yacht at the 2014 MYS listed a 550 square meter owner's apartment and several swimming pools amongst the Privilege One's key amenities.
In August 2016, La Via and Antonio Battista, CFO of Privilege Yard, were placed under house arrest after alleged fraudulent bankruptcy fillings. According to La Nazione, La Via and his team were accused by Civitavecchia prosecution of sending at least €63 million to an offshore bank account in the British Virgin Islands. Authorities are now examining whether administrators at the banks themselves were victims or protagonists in this case.
Feadship has delivered the 71.76-meter superyacht Stella M to her owner on 5 August 2025. Built at the Dutch yard and designed by Studio De Voogt, the vessel features five decks and a layout intended for multi-generational use.The yacht is equipped with a next-generation diesel-electric propulsion system, designed to reduce noise and vibration while supporting cleaner cruising. According to Feadship, sea trials confirmed notably low noise and vibration levels.The project was carried out in collaboration with Burgess, representing the owner throughout the build, and Hugo-Morgan Harris acting as technical representative.“Every detail was shaped by a shared ambition to create something exceptional,” said Maarten Janssen, Feadship Sales Director. “Her advanced diesel-electric propulsion system has resulted in remarkably low noise and vibration levels.”Burgess Senior Partner Richard Lambert commented: “Her Dutch pedigree coupled with complete collaboration between all parties resulted in a vessel that meets the owner’s forward-thinking vision.”Stella M is set to begin her first Mediterranean season following delivery.Credits: Feadship
August 11, 2025
Oceanco has launched the 111-meter diesel-electric yacht Leviathan, previously known as Project Y722, at its facility in the Netherlands. The vessel features naval architecture by Oceanco and Lateral Naval Architects, exterior design by Oceanco, and interiors by Mark Berryman Design.Commissioned by an experienced owner, Leviathan was developed with a focus on operational efficiency and crew wellbeing. According to Oceanco, crew members were involved in the design process to provide practical input. The yacht incorporates durable, low-maintenance materials such as honed stone, natural wool carpets, composite capping rails and decks, and full-height glass superstructure bulkheads, replacing more maintenance-intensive elements like teak decks and polished wooden handrails. These choices are intended to reduce routine upkeep and allow crew to focus on guest services and operational tasks.The project involved collaboration between the owner, technical representatives from YTMC, and management company Y.CO. More than 2,000 people contributed to the build, and their names are engraved on a glass panel in the main staircase.Leviathan is designed to accommodate a variety of uses, including hospitality and scientific work. She has a beam of 17.8 metres and is scheduled to begin sea trials in the coming weeks. Further details on her capabilities are expected to be released later.Credits: Oceanico
August 11, 2025
Search operations are ongoing for Mazu Yachts co-founder Halit Yukay following a collision between his yacht and a cargo vessel in the Sea of Marmara.Yukay, 43, was travelling from Yalova to the Greek island of Mykonos when the incident occurred. His family reported him missing on Monday, 4 August. The wreckage of his yacht, Graywolf, was later found off the coast of Marmara Island. Rescue teams, including divers, have been working in the area since, but no trace of Yukay has yet been found."The privacy of Mr. Yukay’s family and Mazu Yachts’ team members remains a priority during this time," the company said in a statement. "We are deeply grateful for the thoughts, prayers, and support extended to us. Verified updates will be shared through our official channels as they become available."Yukay co-founded Mazu Yachts in 2011, initially focusing on chase boats before expanding into the semi-custom yacht sector. The yard’s portfolio includes models such as the 24.9-metre Mazu 82 and the 40.2-metre flagship 132 DS. Its 28.5-metre Waterlily was a finalist at the 2024 BOAT International Design & Innovation Awards."Halit is a friend and a constant source of inspiration and bold ideas," said Nicola Pomi, head of Volvo Penta’s yacht division. "Today, while we hope and wait, we hold on to his spirit. We are closely following the ongoing search and rescue efforts, and our thoughts are with Halit, his family, and the Mazu team."Credits: Coast Guard Command (Turkey)
August 11, 2025
Paris Hilton and her family recently completed a Mediterranean holiday aboard the 24.4-meter Sunreef 80 Eco Nalani, a solar-electric catamaran that combines luxury with environmental consciousness. The black-hulled vessel served as the family's floating residence during their Sardinian getaway, accommodating Hilton, husband Carter Reum, and their two children.The Nalani features 340 square meters of living space across four staterooms and a children's bunk room. Its design emphasizes indoor-outdoor living, with a master suite featuring a private balcony and common areas that flow seamlessly between interior and exterior spaces. The yacht's integrated solar panels and hybrid propulsion system align with Hilton's public advocacy for sustainable luxury.During their charter, the family utilized the yacht's numerous amenities including a flybridge hot tub, open-air cinema, and various water toys. Hilton shared glimpses of their experience on social media, highlighting quiet family moments and Mediterranean sunsets.Sunreef's 80 Eco series represents the Polish builder's commitment to environmentally conscious yachting, combining conventional propulsion with renewable energy systems for limited silent operation. The model has gained popularity among charter clients seeking sustainable luxury options.The catamaran's layout prioritizes outdoor living with multiple lounge areas, including a forward terrace and aft beach club configuration. Its crew quarters accommodate four staff members to ensure full service during charters.Industry observers note growing interest in eco-friendly yachting solutions among high-profile clients, with solar-assisted systems becoming increasingly common in new builds. The Nalani remains available for Mediterranean charters through the current season.Sunreef continues production of its eco-focused catamaran line at its Gdansk facility, offering models from 15 to 30 meters in length. The company reports steady demand for vessels combining luxury amenities with reduced environmental impact.Sunreef Yachts was founded by Francis Lapp in 2002 in Gdansk, Poland. Since then, the shipyard has been designing and manufacturing luxury sailing and power multihulls. Credits: courtesy by Paris Hilton; Sunreef Yachts
August 8, 2025
Nautor Swan will present two new sailing yachts at Europe's premier marine events this autumn. The Swan 51 performance cruiser will make its world premiere at the Cannes Yachting Festival (9-14 September), while the flagship Swan 128 will debut at the Monaco Yacht Show.Swan 128The 15.5-meter Swan 51 enters the competitive 50-foot segment as the smallest model in Swan's performance cruiser line. Developed from experience gained with over 70 yachts between 14.6 and 16.8 meters built since 2019, the design features a mast positioned closer to the keel for improved balance. The model succeeds the original 1981 Swan 51, the first Swan collaboration with designer German Frers.Giovanni Pomati, Nautor Swan CEO, stated: "From the high-performance elegance of the Swan 51 to the refined design of the Swan 128, we offer our global sailing community to experience the authentic spirit of sailing."Alongside the Swan 51, Cannes attendees will see the ClubSwan 43 and Swan 88 models. The 39-meter Swan 128 will represent the Finnish builder's largest offering at Monaco.Swan 51From 19-21 September, Nautor Swan will host an exclusive viewing event at Porto Carlo Riva in Rapallo, Italy, providing private access to its current model range.The autumn presentations mark Nautor Swan's continued expansion across multiple sailing yacht segments, from performance cruisers to maxi yachts. Both new models will be available for viewing by appointment following their official debuts.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
August 7, 2025