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.
The 63rd Genoa International Boat Show concluded with a record-breaking 118,269 visitors, marking a 13.9% increase from the previous year. The event featured 1,043 brands, over 1,000 boats, and 184 premieres and new designs. Additionally, 120 conferences and workshops were held, attracting 1,316 accredited journalists and over 11 hours of television coverage. The show received notable attention from government authorities and institutions, including Italian Prime Minister Giorgia Meloni and other ministers. The show also benefited from international participation through a delegation of foreign journalists and buyers from 35 countries.The success of this year's show exceeded expectations and marked significant growth in the yachting industry. The 64th edition is scheduled for September 19 to 24, 2024, with ambitious plans to make it the world's leading industry event.Credits: Genoa International Boat Show
September 26, 2023
The 32nd edition of the Monaco Yacht Show has returned with an impressive lineup of yachts. As the largest yachting show in Europe and a pinnacle event in the superyacht realm, this year's show focuses on promoting environmental innovations and educational trends within the industry. Monaco Yacht Show 2022With designated hubs for design, innovation, sustainability, and adventure, the show offers a comprehensive experience. The spotlight shines on the 120 superyachts gracing Port Hercules, drawing yacht owners, charterers, buyers, and enthusiasts worldwide. Valued at around USD 4.3 billion, these yachts represent iconic brands and create a networking and exploration hub. Alongside, the luxury 'Car Deck,' showcasing classic and custom vehicles, helicopters, personal submarines, and more, turns this event into a billionaire's paradise, offering a splendid end-of-summer celebration.Here are the 15 yachts that can’t be missed. Leona 80mBilgin YachtsBilgin Yachts presents its 80m Leona. Its striking bright-scarlet hull, earning it the moniker "the Red Bullet," ensures it stands out even at Port Hercules. Unique Yacht Design handles the exterior, while H2 Yacht Design takes charge of the interior. As the largest debut at Monaco this year, Leona is a part of the Bilgin 263 series, sharing features like a lifting transom and a spacious beach club pool with its sister ship, Tatiana. A remarkable feature includes Greek statues adorned with fiber optics, creating the illusion of a starry night sky.O'Rea77.7mGolden YachtsThe O'Rea exterior design, created by Studio Vafiadis, showcases a powerful profile with muscular lines that exude strength. Her contemporary interior is a collaborative work of art by Studio Vafiadis and the Italian studio Massari Design. O'Rea features a sculpted and architectural hatch that resembles a gate, adorned with black and metallic finishes that lend a modern touch to the entrance of her beach house.Alchemy66m RossinaviThis yacht is a result of fine collaboration between the Italian shipyard and Philippe Briand, Founder of Vitruvius Yachts, who is responsible for the exterior design of the vessel and the naval architecture, and Enrico Gobbi, Founder of Venice-based practice Enrico Gobbi - Team for Design, who was responsible for interior and outdoor spaces styling. The three-deck yacht has enough space for all owner’s wishes, her green and efficient design saves both fuel and emissions. Entourage60mAmelsDelivered in early 2023, the customized 60m Entourage will be on show for the first time. As the second superyacht in the Amels 60 range, she features exterior design by Monaco based Espen Oeino International and naval architecture by Damen Yachting. Her interior design was made by the Canadian design studio Burdifilek.57Steel56.7mSanlorenzoThe 57Steel, despite its 1050 GT tonnage, exemplifies Sanlorenzo's hallmark elegance. Collaborating with Studio Zuccon International Project for exterior architecture and Piero Lissoni for interiors, it's a Monaco Yacht Show 2023 premiere that reimagines traditional layouts. The wheelhouse, usually on the upper deck, now adorns an extra deck, featuring the owner's 55 sq. m cabin with panoramic views from the owner's deck. Piero Lissoni's architectural vision blends spaces, vertical elements, and his signature staircase. This reshuffle also creates a full-beam VIP cabin on the main deck and an expansive 150 sq. m beach area. The bow garage accommodates tenders up to 7.5 meters, with a 30 sq. m gym and sauna.Baglietto T5252mBagliettoThe 52m yacht was penciled by Francesco Paszkowski Design. The interiors were also designed by FPD in cooperation with Margherita Casprini. The yacht is fitted with a hybrid propulsion system that will allow it to choose a more efficient cruising mode, curbing both consumption and environmental impact. When cruising in electric diesel mode, the T52 can indeed boast a range of up to 7,600 nautical miles, and remain at anchor up to 10 hours relying on the batteries only.Jewels 53mTurquoise YachtsThe 53m Jewels featuring a captivating sky-blue hull, is sure to capture attention wherever it sails. This unique exterior design stems from a debut partnership between the Turkish builder and Miami's DeBasto Design. Inside, it offers accommodations for 12 guests, crafted by the British studio H2 Yacht Design. With a substantial volume of 720 gross tonnes, and equipped with a spa pool, a bar, and areas for relaxation.Anjelif50mColumbus Yachts50-meter full custom aluminum superyacht Anjelif’s exteriors and interiors were made by Marco Casali of Too-Design while the engineering is by the Palumbo Superyachts team. A model tailored to the needs of her experienced owner and packed with technical and stylistic innovations like the hybrid, diesel-electric propulsion. She has a lot to offer – from open-air cinema to touch-and-go helipad and spa. Grey50mTankoaThe latest superyacht in Tankoa's successful 50m all-aluminum series with the exterior lines by Francesco Paszkowski and the interior design by Giorgio Cassetta. In addition to her features, the owner chose to incorporate an awe-inspiring outdoor home cinema screen, which is strategically positioned in front of the swimming pool lounge on the foredeck.Alunya49.9mBenettiAlunya ia a 50-meter yacht and the second in the B.Now family to feature the Oasis Deck™. This innovative solution transforms the traditional stern swim platform with hydraulic terraces spanning the entire deck width, crafting a vast 110 sq. m beach club. Offering a seamless 270° aft view, it boasts a glass-walled infinity pool and various social spaces.UV II45mISA YachtsThe yacht has a steel hull and aluminum superstructure. Her naval engineering was handled by Palumbo Superyachts; Enrico Gobbi – Team for Design designed the exterior lines, and Luca Dini Design & Architecture penned the interior design. UV II is powered by 2 CAT C32 ACERT engines, each delivering 1300 hp for a top speed of 15.4 knots and a cruising speed of 14 knots. This Is It43.5mThe Italian Sea GroupThis Is It is the latest addition to the Tecnomar fleet, a 43.5-meter motor catamaran with approximately 750GT. This innovative catamaran combines tradition and innovation, offering a lifestyle concept defined by over 600 sq. m of impressive glass windows. Its aluminum superstructure and optimized hull lines enhance hydrodynamic efficiency, significantly reducing fuel consumption and emissions. Complying with IMO Tier III requirements, it employs exhaust gas treatment technology to reduce nitrogen oxide emissions. Inside, it boasts six cabins, a massage room, and a galley with polarized glass for events and show cooking.Fancy35m Nautor SwanThe Swan 108 Fancy boasts a full carbon hull and deck constructed with epoxy Sprint technology. Notably, it introduces a groundbreaking dual-acting transom door that expands the beach club area significantly without compromising interior space. The yacht's spacious saloon, illuminated by large potholes, offers a refined and intimate ambiance. Accommodating up to 9 guests, it includes a master suite, a VIP cabin, and two double cabins, one featuring an extra pullman bed.Sandbank34.1mGulf CraftThe Majesty 111 represents a harmonious collaboration between Gulf Craft and the Netherlands-based Phathom Studio. Phathom Studio's innovative exterior lines and refined interior design, combined with Gulf Craft's extensive yacht-building expertise, have given rise to a new generation of dynamic Majesty yachts. Featuring a unique 6-cabin layout and an expansive forward VIP cabin, this yacht redefines space utilization in its size category. It emphasizes seamless indoor-outdoor connections, offers panoramic views, a plunge pool on the foredeck, and integrates innovative energy-saving systems for efficient cruising and comfort. This yacht is a result of meticulous market research and trend forecasting for a global audience. Gulf Craft Announces European Debut of its Award-Winning Majesty 111 at Monaco Yacht Show 2023Sunreef 80 Eco23.8mSunreefSunreef Yachts presented the 80 Sunreef Power Eco, heralded as the world's most cutting-edge electric motor yacht. Pioneering green technology, including a groundbreaking solar panel system, powers this catamaran, setting new standards for eco-friendliness and energy efficiency. This four-cabin eco-catamaran showcases a smart energy management system, energy-efficient air conditioning, and sustainable linen furniture. Unique offerings include a bow deck hot tub, a concealed stern garage, and an alfresco gym.Credits: Amels; Bilgin Yachts; Gulf Craft; Nautor Swan; MYS; Sunreef; TISG; Yacht Harbour archive
September 26, 2023
Daroca Design aims to create a buzz at this year's Monaco Yacht Show with its latest concept, a 107-meter superyacht named Waves. Drawing inspiration from the sea, this Spanish studio designed the yacht with a pale blue hull reminiscent of ocean waves, contrasting a towering black superstructure.In collaboration with Bolidt, a maritime flooring specialist, Waves introduces two groundbreaking decking solutions. The first exhibits a captivating geometric pattern to provide a contemporary touch, while the second design embraces more organic, flowing lines inspired by nature.Daroca Design explained, "This collaboration goes beyond aesthetics, with these designs redefining luxury yacht interaction with their environment through the ingenious use of Bolidt materials."The yacht's exterior is equally remarkable, featuring a spacious aft deck with a large pool cascading to a swim platform below. The foredeck boasts a substantial helipad for sea arrivals and departures. The three upper decks offer numerous alfresco dining areas and lounges for entertainment.Credits: Daroca Design
September 26, 2023
Sanlorenzo will bring two yachts this year at the Monaco Yacht Show scheduled from 27 to 30 September 2023.57Steelphoto by Guillaume PlissonThe 57Steel, despite its 1050 GT tonnage, showcases Sanlorenzo's signature purity of form. The collaboration with Studio Zuccon International Project for exterior architecture and Piero Lissoni for interior design resulted in an innovative superyacht. Premiered at the Monaco Yacht Show 2023, it reimagines traditional layout configurations. The wheelhouse, typically on the upper deck, now resides on an additional deck, housing the owner's cabin, offering a 55 sq. m space with panoramic views from the owner deck. photo by Guillaume PlissonPiero Lissoni describes the yacht as an architectural creation, blending spaces, vertical elements, and his unique staircase. The redistribution of spaces has also allowed for a full-beam VIP cabin on the main deck and a vast 150 sq. m beach area. Placing the garage at the bow enables accommodation for tenders up to 7.5 meters, while a 30 sq. m gym and a sauna cater to the owner's well-being.AlloyImaginative spaces come to life through innovative redesigns, offering fresh perspectives. Alloy boasts an owner's cabin, a true private suite spanning three levels. Designed to enhance onboard living, this cabin occupies the main deck's spacious midsection. It comprises a sleeping area, a mezzanine-level lounge, another on the upper deck, a versatile indoor study, and a generous open area on the bow featuring a sundeck, Jacuzzi, and relaxation zones.Alloy seamlessly blends intimate spaces with social areas. It provides dedicated zones for the owner and guests, including four double cabins on the lower deck, a sun deck, and an expansive beach club housing a gym and an outdoor platform at water level, creating a seamless connection with the sea.The innovative concept and design are the result of collaborative efforts within the Sanlorenzo team. Zuccon International Project studio contributed to the exterior lines and concept development, while the interior design of the Alloy superyacht showcased in Monaco is by the German firm Ash.SP110The superyachts will share the space with SP110. A pioneering model, the first yacht in the smart performance range, SP110 is the result of the collaboration of a team of professionals at the highest levels of their individual skills: Bernardo Zuccon for the exteriors, Tilli Antonelli for product development at Sanlorenzo, Marco Arnaboldi for the hull design, Piero Lissoni for the interiors.The Sanlorenzo models will be joined by the Bluegame newcomer presented at the Cannes Yachting Festival, the BGM75, the first model in the new BGM range with which the Sanlorenzo Group brand enters the multihull segment.Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length. Credits: Sanlorenzo
September 25, 2023
Camper & Nicholsons has announced the sale of the 46.67m Sea Falcon II, with senior sales broker Jean-Marie Recamier and yacht sales advisor Jessica Ruez, introducing the buyer. The seller was represented by Edmiston.Built by Italian shipyard Puglia in 1993, Sea Falcon II underwent a major refit between 2015 and 2017. She can accommodate up to 11 guests across five cabins, including an owner’s cabin forward on the main deck with a large en suite with bathtub and shower, plus a further two double cabins and two twin cabins on the lower deck. Out on deck, there’s room for alfresco dining on the main deck aft, while the flybridge offers panoramic views either from the hot tub or the forward-facing bar area. When the two tenders are in use, the bridge deck aft becomes a large area for guest use. Credits: Camper & Nicholsons
September 25, 2023