One of the key stories of the past year has been the acquisition of two superyachts by the state of Equatorial Guinea. The largest of the two was the 90-meter Ice, which in itself has a fascinating story. Commissioned by an Italian billionaire and delivered to a Russian oligarch, Ice was built with environmental friendliness in mind.
Ice's story starts under a different name - Air, which is what Augusto Perfetti dubbed her when he ordered her from Lurssen in Germany. A famous Italian candy manufacturer, Perfetti is mostly known as the owner of Mentos but also Chupa Chups. Forbes currently values him and his brother at a combined $7.2 billion.
As Perfetti had the yacht under construction at the shipyard, he was approached by Russian billionaire Suleyman Kerimov to acquire the yacht. According to media, the oligarch made him an offer he couldn't refuse and the yacht was sold prior to her delivery. Following the yacht's completion, she was christened as Ice. Meanwhile, Perfetti ordered himself another Air yacht at Feadship.
Out of the many alluring aspects that Ice features is her friendliness to the environment. In fact, the 90 meter yacht was the first to have Azipod drive units installed instead of shafted diesels that one would typically find onboard a motor yacht. A top priority in the construction of Ice was to lower emissions as well as all possible noise and vibration.
The result was a quiet yacht that could seamlessly cruise through the oceans. The choice of azipods allowed for a more flexible layout on the inside whilst electric generators made it possible to fit the engine room on a single deck and save space. Filters were installed on Ice to made sure that the exhaust gases passed through the eight steel pipes at the yacht's highest points were first filtered and unnoticeable.
Designed by Tim Heywood both outside and inside, Project Rainbow, as it was known during her build, features a contemporary style on the interior with an unmistakable style on the exterior. Stretching across Ice's full beam, the owner's stateroom forward of the main deck is located near to two VIP cabins on the same deck.
The aft of the main deck is dedicated to being a bathing area, with guests being able to both quickly access the sea through a spacious swimming platform as well as enjoy the water in a swimming pool aft of the deck. The rapid access from the pool into the sea is ensured through two staircases on either side of the yacht.
Whereas Heywood focused on the yacht's layout, it was Terence Disdale who created the interior style of the yacht. Coupled with a vast collection of modern art, Ice's interior is created in Zen minimalism. Creative furniture and fittings are further complemented by large windows that beam natural light deep into the 90 meter yacht.
Built for efficient performance, Ice can be controlled with a single joystick that connects the full bow thrusters and azipods, according to statements issued when the yacht was launched. During sea trials, the 90 meter yacht reached a top speed of 18.6 knots with nearly 100% clean exhausts. Burning 16 to 17 tonnes of fuel in 24 hours, she cruises at an average speed of 16 to 17 knots.
Amongst Ice's main amenities are a helipad aft of the third deck, a lounging area on the sundeck, a private space on the bow area of the yacht as well as tall windows throughout the yacht creating lots of volume in its salons and suites. With an interior volume of 2,870 tons, she stretches across a total beam of nearly 15 meters.
The most recent chapter in Ice's history came in 2015 as Kerimov sold the 90-meter yacht to son of the President of Equatorial Guinea according to a report by Le Monde. The French newspaper goes on to say that following the acquisition, Ice's new owner replaced Ice's helicopter with a new Eurocopter EC135. Earlier in 2014, the same group purchased the 78m Feadship, Ebony Shine.
As it was leaving the Netherlands after a refit, Ebony Shine was however seized in March 2017 by Dutch authorities as part of a case against the yacht's beneficial owner. According to Maritime Executive, the defendants then argued that the yacht could not be seized as it was technically a governmental vessel operated through Dara Limited, an offshore holding company controlled by Equatorial Guinea.
Ebony Shine
The 25th largest yacht in the world at the time of her delivery, Ice has since slipped to the 66th position in the world rankings as larger megayachts began being build. Her drive for clear exhausts, minimized vibration and noise have, however, inspired a drive across even smaller yachts for more efficiency and lower noise pollution.
Valued at $6.3 billion by Forbes, Suleyman Kerimov currently sits as the 21st richest man in Russia with his net worth having risen five fold in less than two years. Having made his wealth investing in distressed companies, Kerimov started his investing activity in 1992. Shortly prior to the 2008 crisis, he sold nearly all of his assets in Russia including a stake in Gazprom, a large real estate development project.
With loans from VTB bank, he bought a stake in Polyus Gold, Russia's largest gold mining outfit as well as in Rostelecom, a telecom company. He acquired Rybolovlev's stake in Uralkali, later reselling it to billionaires Prokhorov and Mazepin. Currently the primary owner of Polyus Gold, Kerimov represents the republic of Dagestan at the Russian Federation's council.
In 2017, Kerimov reportedly made a bid to acquire the 85-meter Solandge according to Russian media. According to their story, the offer was, however, turned down and the yacht ultimately sold to a different buyer from the Middle East. Designed by Espen Oeino, Solandge was also built by Lurssen, similarly to Ice.
Valued at $7.2 billion by Forbes, the Perfetti brothers are the owners of Perfetti Van Melle, a candy and gum manufacturing giant behind brands such as Mentos, Airheads and Chupa-Chups. Started by their father Ambrogio Perfetti together with his brother Egidio, the company was inspired by American soldiers who had brought gum from overseas. No longer involved in operations, the two brothers are considered to be the 7th richest family in Italy.
Following his sale of the 90-meter Lurssen, the Italian billionaire decided to build a yacht at Feadship in the Netherlands. This resulted in the 81-meter Air, which was delivered in 2011 and is currently available for charter from €700,000 per week.
Van der Valk has launched its 35-meter aluminum superyacht Lalabe, previously known as Project Samba, ahead of its scheduled delivery this summer. The vessel entered the water in late May 2025, coinciding with the conclusion of the Cannes Film Festival, and will undergo final outfitting and sea trials before its official debut at the Cannes Yachting Festival in September.Lalabe represents a fully custom design based on the naval architecture of the award-winning Lady Lene, adapted with a fast-displacement hull capable of 17 knots. The exterior and interior were developed by designer Guido de Groot in collaboration with the owners, who were closely involved throughout the build process. The yacht emphasizes indoor-outdoor living, featuring sliding doors that open the bridge deck saloon on three sides and an aft cockpit designed as a beach club with a sauna, steam room, and fold-down swim platform."The yacht exemplifies Van der Valk's approach – combining Dutch craftsmanship with fully bespoke design," said Yoeri Bijker, Van der Valk's sales director. "This isn't a semi-custom project; every detail was tailored to the owners' requirements."The Cannes Yachting Festival, held in September, will mark Lalabe's first public appearance. The event, which includes in-water displays and exhibitions across Cannes' ports, serves as a key platform for yacht builders to showcase new models. Van der Valk's participation underscores the company's focus on the custom superyacht market, with Lalabe positioned as a highlight of the show.The yacht's layout prioritizes multi-generational family use, incorporating residential-style amenities such as an expansive laundry facility and flexible deck spaces. Its design follows the success of previous Van der Valk models, reinforcing the brand's reputation for high-performance, custom-built aluminum yachts.The Cannes Yachting Festival attracts a global audience of yacht owners, brokers, and industry professionals, making it an ideal venue for Lalabe's premiere. The event runs from September 10-15, 2025, in Cannes, France.Van der Valk is a family-run company building comfortable, innovative and efficient (semi) custom motor yachts from 18m to 45m. From its humble roots in the 1960s, Van der Valk today has a global fleet of over 1000 motor yachts. Credits: Van der Valk
May 27, 2025
Her Royal Highness The Princess Royal visited Cockwells Modern & Classic Boatbuilding's Ponsharden shipyard on 6 May 2025 to inaugurate the company's new Training Academy and launch the Hardy 45 European model. The Cornish boatbuilder, acquired last year by Pendennis Group, hosted the royal visit at its facility between Falmouth and Penryn.Upon arrival, The Princess Royal was received by local dignitaries including the Lord Lieutenant of Cornwall Colonel Sir Edward Bolitho, Penryn Mayor Councillor Mary May, and Pendennis Group Commercial Director Stephen Hills. Cockwells founder Dave Cockwell introduced senior management and Cornwall Marine Network CEO Paul Wickes MBE before guiding the royal party through the production facilities.The tour included demonstrations of the fiberglass molding process led by Production Manager Ryan Tunnicliffe, followed by an inspection of the main workshop with Production Director Jason Foat. The Princess Royal engaged with two groups of apprentices from the newly opened Training Academy, discussing their backgrounds and career aspirations."The Cockwells Training Academy has provided an incredibly positive route forward into my career," said apprentice Louis Foulkes. "I believe the skillsets and opportunities provided will allow me to spend the rest of my working life in a fantastic industry."The royal visit highlighted Cockwells' four-year apprenticeship program developed with Cornwall Marine Network, designed to preserve traditional boatbuilding skills while incorporating modern techniques. The Princess Royal unveiled a commemorative plaque for the Academy before performing the ceremonial launch of the Hardy 45 European by breaking a bottle of Cornish Camel Valley champagne on its bow."This marks two important developments - opening our Training Academy and launching the Hardy 45 European," said Dave Cockwell. "We discussed sustaining Cornwall's boatbuilding heritage while meeting global demand for bespoke vessels."The Hardy 45 European joins Cockwells' portfolio that includes Duchy Motor Launches and superyacht tenders. The Pendennis Group's majority acquisition has enabled production expansion at the Cornish facility, which employs traditional craftsmanship alongside contemporary marine technologies.The event underscored the marine sector's economic significance to Cornwall, with Cockwells' apprenticeship program addressing industry skills requirements. The company currently builds vessels up to 35 feet at the Ponsharden site, with the Training Academy expected to graduate 12-15 apprentices annually through its structured program combining workshop instruction and on-the-job training.Pendennis Shipyard is one of the world's leading custom superyacht builders and refit shipyards and has become one of Cornwall's most important employers with over 430 highly skilled tradespeople based at the 14-acre prime waterfront location in Falmouth, UK. In the latter part of 2018 Pendennis secured a majority share hold in Vilanova Grand Marina, a 48 berth facility with adjacent land available for further development. The investment in Vilanova is yet another milestone in Pendennis’ international growth and offering to its global client base. Credit: Pendennis
May 27, 2025
U-Boat Worx has launched its Wet Lease program, a comprehensive solution enabling commercial operators to offer submarine experiences without owning or operating the equipment themselves. The Dutch submersible manufacturer, active since 2005, aims to expand access to deep-sea exploration through this managed service model.The program addresses key barriers to underwater tourism by handling all operational aspects, including vessel provision, crew, maintenance, permitting, and dive logistics. Operators only need to supply passengers, while U-Boat Worx manages the entire diving experience. Available submarines accommodate 2 to 7 passengers."This model removes concerns about recruitment, training, maintenance, and regulations," said Wilbert Beilsma, Commercial Director at U-Boat Worx. "Operators bring guests; we handle everything else."With over 60 submarines in service and 10,000+ commercial dives completed, U-Boat Worx has established itself as a leader in private submersible operations. The company reports growing demand for unique underwater experiences in luxury travel, marine tourism, and conservation sectors.The Wet Lease program follows successful pilot operations and complements existing financial models: outright purchase, financial lease, operational lease, and fractional ownership. This expansion positions U-Boat Worx not just as a manufacturer but as an operational partner for commercial users."Submarine dives represent a distinctive, bucket-list experience that differentiates destinations," noted Roy Heijdra, Marketing Manager. "They generate significant marketing value through guest engagement and word-of-mouth promotion."The initiative comes as experiential travel continues gaining market share globally. By simplifying access to deep-sea exploration, U-Boat Worx aims to make underwater adventures available to a broader audience while supporting marine tourism development. The company's submersibles have previously been used for scientific research, film production, and private exploration in addition to commercial operations.Operators in resort, cruise, yacht charter, and ecotourism sectors are identified as potential adopters of the Wet Lease model. The program's scalability allows for implementation in various marine environments worldwide, subject to local regulatory approvals. U-Boat Worx maintains all necessary international certifications for its vessels and crew.This development reflects broader trends in the luxury experience market, where operators increasingly seek turnkey solutions to differentiate their offerings. The submarine experience market has grown steadily since 2010, with particular interest from Asia-Pacific and Middle Eastern markets in recent years.U-Boat Worx continues to develop new submersible models alongside its service offerings, with recent additions focusing on improved viewing capabilities and enhanced passenger comfort. The company maintains production facilities in the Netherlands and operates globally through regional partners.Credits: U-Boat Worx
May 27, 2025
Ferretti Group will present seven yachts at the sixth Venice Boat Show, running from May 29 to June 2, including two world premieres: the Pershing GTX70 and Ferretti Yachts 940. The event takes place in Venice’s historic Arsenale district.The Pershing GTX70, launched in March, marks the third model in the brand’s Sport Utility Yachts series and coincides with Pershing’s 40th anniversary. The 70-foot yacht retains the sporty design and spacious layout of its predecessors in a more compact form.Ferretti Yachts 940The Ferretti Yachts 940, unveiled in January at the Cattolica shipyard, makes its public debut at the show. As the largest model in the Ferretti Yachts range, the 94-foot widebody emphasizes interior space and cruising comfort.Five additional models from Ferretti Group brands will be displayed: the Riva Dolceriva, Riva 68’ Diable, Itama 45RS, Pershing 8X, and Wallywhy100.Pershing GTX70The Group has partnered with luxury brands for the event, including Dolce & Gabbana, which designed staff uniforms. Hotel Gritti Palace hosts the Riva Lounge, while Lavazza, Range Rover, La Scolca, Aperol, Seabob, Frette, Lanerossi, Zimmer + Rohde, Atelier Rebul, Venini, and Zanta contribute to the exhibition’s amenities. Additional partners include Bang & Olufsen, Flexjet, and Torello.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
May 27, 2025
Saxdor Yachts has extended its dealer agreement with Greece-based Thrace Labea to include Bulgaria, Romania, and Albania, reinforcing its presence in Southeastern Europe. Thrace Labea, one of Saxdor’s earliest dealers, will now oversee sales and service in the three new markets.The expansion follows Thrace Labea’s established operations in Greece, where it has developed a scalable business model for the Finnish boatbuilder. Local teams have been set up in Bulgaria and Romania to provide customer support, while a partner in Albania will handle growing demand as the country emerges as a Mediterranean boating destination.Jon Hautamäki, Sales Director at Saxdor Yachts, stated: “The expansion of Thrace Labea’s responsibilities into Bulgaria, Romania and Albania reflects both exceptional performance and the growing confidence in Saxdor across the region.”Nikos Zarifis, Managing Director at Thrace Labea, added: “We’re excited to take this next step with Saxdor. Southeast Europe offers strong potential for growth, and we are committed to delivering the same level of service and passion for the brand that we have brought to the Greek market.”The move aligns with Saxdor’s strategy to strengthen its position in emerging markets. The brand’s focus on performance hulls and versatile designs has driven demand in the Mediterranean region. Thrace Labea’s expanded role solidifies its position as a regional hub for Saxdor’s operations.Since its inception in 2019, Saxdor Yachts has experienced exponential growth, producing over 1000 boats and capturing the industry’s attention with their innovative approach. Now, with the introduction of the Saxdor 400 GTO, Saxdor Yachts aims to make waves in the 40-45 ft sport boat market, leveling up from the game-changing entry-level 200 and mid-range 320 models.Credits: Saxdor Yachts
May 26, 2025