With the recent loss of the 40-metre sailing superyacht My Song that has created a buzz in the media, Yacht Harbour takes a look over some of the major accidents resulting in superyachts destructions in the recent years.
In September 2018, a large fire broke out at Lürssen's Bremen shipyard in a floating dock and building unit where the over-100-metre yacht was under construction. Various social media posts pointed out the damaged new build, 3 decks of which at least have caught on fire, to be the 146-metre Project Sassi, which was reportedly due for delivery within several months.
Over 110 firefighters were dispatched to the site, no one was injured during the incident but the new build reportedly took serious damage. The development was further set to hit the insurance sector with a group of marine insurers that could be facing a payment of up to €590 million over the fire.
In November 2018, coasts of Italy have been pounded by the waves of extreme weather, causing violent waves up to 10 metres and winds up to 180 km/h, breaking a lot of luxury yachts from their berths in Rapallo and killing at least 11 people. Local media described the landscape around the port of Rapallo as an apocalyptic.
Marina's director told there were 390 yachts in the marina, with the half of them destroyed. There was storm barrier for 300 metres, rebuilt after the collapse in 2000, but it wasn't enough for such an extreme event. City of Venice is reported to be 75% submerged. Among others, the yacht of Silvio Berlusconi was also damaged in disaster.
In October 2018, a major fire broke out on board the 42 metre Benetti superyacht Lalibela built in 1972. The yacht was heavily damaged due to fire, which broke out at the night while she was docked near Cannes, France. The fire destroyed the top deck and cabins inside, reports Maritime Bulletin.
Firefighters were called to the yacht, and worked for over 12 hours to extinguish the fire. The blaze was reported to have destroyed the top deck and cabins inside. Luckily, the two people on board at the time the fire broke out were safely evacuated.
In September 2018, he newly delivered CCN superyacht Kanga caught devastating fire, just days before her expected debut at the Cannes Yachting Festival. Kanga was heavily damaged, with the extent of the damage still unknown.
The 40-metre superyacht caught fire while being between the isles of Olipa and Mali Vratnik in Croatia. All thirteen people - 9 guests and 4 crew members were successfully rescued from the vessel.
The biggest superyacht disaster of 2017, a category 4 Hurricane Irma caused severe damage to the Caribbean and Florida region. Yachts based in the region and moored in local marinas were also amongst the infrastructure ravaged in the area. Barbuda and St Maarten were among the worst affected areas, with multiple fatalities and declaring a state of emergency.
With strong winds slamming yachts onto decks, snapping mooring lines and simply damaging some areas of yachts by themselves. Several yachts were reported destroyed, including the 40 metre Mondomarine superyacht Sierra Romeo, Benetti Delfino 93 and the 112 Westport, Pipe Dreams, built in 1999 by the American shipyard.
In the months since, the superyacht community has come together to support Caribbean welfare and rebuilding efforts but it will be many months before the damage is fully repaired.
In January 2016, a major yacht fire broke out at Marmaris marina devastating two prominent superyachts. The blaze was understood to originate on-board the 70.68-metre Lürssen yacht The One, further spreading to a neighbouring vessel, the 52-metre Al Jadaf superyacht Barbie. Other yachts stationed in the harbor have left the harbor to escape the fire.
London-based insurance firm Hiscox MGA later announced that Lloyd’s insurers had paid out $20 million to the owner of Barbie. Paul Miller, director of marine underwriting, said it was the largest superyacht claim that the insurance industry had dealt with in a long time.
In August 2015, shocking pictures of a superyacht sinking off of Mykonos, Greece rocked the web. The clarity of the water gave an unusually up-close glimpse at this sinking yacht, showing ever detail of the 33 metre yacht Aloha's demise.
The yacht represented Navetta 33 custom line. According to the Mykonos Daily, the yacht hit a reef. Fortunately, the four guests on board when the Aloha grounded were able to escape unharmed.
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
Dutch shipyard Royal Huisman partnered with ThirtyC design studio and Dykstra Naval Architects have introduced a 'double' superyacht concept during the Monaco Yacht Show 2019. The design concept complements the earlier revealed 88-metre sailing superyacht Lotus with a 70-metre companion vessel Lotus’ Shadow.A 'next-generation' twin project from the British design studio ThirtyC, ‘Lotus’ bridges the gap between the experience of sailing and the adventure of the motor yacht lifestyle. Designed with the combination of dual-mast DynaRig sailing yacht and rugged Support Vessel, Lotus aims at unbridled freedom for both the journey and the destination.The lightweight, high-tech 88-metre sailing yacht represents the primary vessel in this 'private armada', offering owners speed, precision sailing and the ability to cruise the world in comfort or compete in global superyacht regattas. This versatility is due to the world’s first twin-mast DynaRig structure, meaning Lotus has the potential to become one of the most technologically advanced and fastest sailing yacht of her kind on the water.Drawn with signature ThirtyC style, Lotus has been born out of collaboration with Royal Huisman and DynaRig specialists Dykstra Naval Architects. The project opts for complete customisation, open spaces, reduced complexity in terms of both rigging and crew as well as an engineering package that fits both luxury and agility on the water.Able to accommodate up to 16 guests across eight cabins and a master suite, Lotus features a 2,200 square-metre sail area and a top speed of 20 knots.As to the 70-metre support vessel Lotus’ Shadow, she is designed to prepare for the sailing yacht’s arrival at any given destination. She will be packed to the brim with toys, tenders, cars, helicopters and other items that enhance the experience of travelling the globe.The vessel is highlighted by a 1.312-square-foot space for housing tenders, toys, helicopters, cars and even a submarine upon request. Moreover, she would offer room for the crew of 18 and 8 guests across 4 cabins.The motor yacht side of the duo, the aggressively styled, futuristic and clean design of the support vessel works with the aesthetic of the sailing yacht to act as a complete package. On the water, the functionality of the support vessel also complements the lifestyle of the sailing yacht, bringing with it entourages, pilots, doctors, and any guides or team members to help make the journey more than unique.
October 18, 2019
Italian superyacht builder Ferretti SpA has announced its withdrawal from public listing of 30% of the company’s shares on the Milan stock exchange. The decision has been altered from the earlier course on returning to the listing.The group already considered a return to the stock market back in 2008 but then the process was hindered by global financial crisis. The current change of plans is stipulated by no sufficient valuation under current market conditions, despite a number of positive applications, the company says.The first auction with the participation of Ferretti on the Milan Stock Exchange was to take place on October 21. The company planned to put up a 30% stake. However, by the end of the IPO period, which lasted first from October 1 to 10, and then prolonged until October 15.Alberto Galassi, CEO of Ferretti SpAFerretti saw lowering of its indicative price range for shares from the initial target of €2.50 to €3.70 per share to only between €2.00 and €2.50. That said, it would have meant a market valuation of € 581 million instead of aimed €1.08 billion.Ferretti was acquired by Chinese industrial conglomerate Weichai Group in 2012. Under the Chinese management, the company succeeded to return from the crisis stage back to profit in 2017, paying off the debts through the activity of Riva and Pershing brands.Currently, Weichai Group controls 75% of the company’s stake, with 13% bought by an heir of Enzo Ferrari, the founder of the iconic Italian supercar maker, in 2016.However, in the new prospective, Alberto Galassi, CEO of the company, said in 2020 a share of about 30% might be sold to some new investor from Europe, reported Reuters.For the moment, The Ferretti Group comprises eight brands: Ferretti Yachts, Riva, Pershing, CRN, Custom Line, Itama, Mochi Craft and Wally, the latest acquisition closed in April 2019. The brands portfolio is set to produce 43 models altogether. Meanwhile, the company revealed at the Cannes Yachting Festival 2019, it had received an equity injection of €250 million from Weichai Group and Piero Ferrari through F Investments.
October 18, 2019