Yacht owners that have become active on the business side of the industry have called for active changes in its models during a panel at the Superyacht Forum in Amsterdam. This follows the launch of their platforms aimed at reducing charter by slashing booking fees. "Stop your disrespect." Ahoy Club's Ian Malouf advised the market.
Attending the panel were Australian businessman Ian Malouf, founder of Ahoy Club and fresh of a $578 million exit in the waste management space, Philippe Bacou, founder of Yotha and Matty Zadnikar, founder of SeaNet. All founded yachting businesses in recent years stepping over from yacht ownership. The debate was moderated by Martin Redmayne.
According to Malouf, his primary goal is to improve the market and his secondary one is to make money. "I think we’re portrayed as a one click and you’re there business, but we have a large team and we are a full-service digital platform." Malouf commented. "We have the cheapest structure in the business and we expect it will go lower before it goes higher."
Malouf's 54m Mischief
Historically resistant to change, yachting has reacted defensively in recent quarters to the entry of these new actors. Malouf described their behaviour as "cartel-like". According to Philippe Bacou, the market is responding aggressively due to the platforms reducing commissions.
"When you provide something that is automatic instead of manual it reduces costs. What we are doing is making savings here." Bacou detailed. "Of course, we all want to make money, but it comes down to global satisfaction."
Ahoy Club and Yotha's web-platforms power an online search of available yachts for charter, a digital booking process and communication system with the yacht and their concierge team. Thanks to automation, the companies say they can reduce booking prices by near 15%.
Bacou's 43m Philmi
“Their behaviour has been poor but expected,” Malouf described. “We’ve been treated like we’re coming into an industry of brokers who think they own the boats. Our pricing structure is cheaper and we’re being told by many that it’s not acceptable and that it is an act of price-fixing.”
When a representative from a large brokerage house asked Malouf whether it would have been better to go to industry bodies like MYBA or LYBRA and try to improve the sector from the inside, the Australian businessman responded.
"Sometimes you have to break things to fix things and that’s what needs to happen. You’re talking about joining arms and walking down the road, which we’re witnessing and it’s a behaviour that’s unpalatable. The question of why didn’t we go to the industry is the reason we are here. For you to even ask me that question is a joke."
One of Seanet's Benettis
"You expect me to bend a knee for the incumbent and say, is it ok for me to enter your industry? Well, you don’t own this industry and it needs a shake, is getting a shake and will be shaken by us. What happens in a market is you have a business and competitors come in and compete, and whoever provides the best service for the best price and for the best commodity usually ends up with the best business."
The representative responded, as the market typically retorts, saying large brokerage houses offer a knowledgeable brokers, which can't be matched by these digital platforms. Pointing out Ahoy Club has a concierge team, Malouf went further, saying some central agents won't present valid charters that Ahoy brings to them.
"A few central agents will block a charter from us getting to the owner. Our remedy to that is that we respect your CA agreement until you breach it by not recommending our choice. That’s when we’ll go to the owner – it’s simple and fair. We’ve done over 100 charter contracts so far – we make no money off the small charters but they’ll come through. You talk about building relationships and that’s what we’re doing."
Malouf, Bacou and Zadnikar all encouraged the market at the end of the debate to focus on the end client and not to skim clients for commissions. "Put your commission drive aside and focus more on what the client wants." Zadnikar outlined.
"Stop your disrespect." Malouf added on.
Matty Zadnikar comes from the safety monitoring space, having founded and run Z-Group for over 20 years. In 2014, the group was acquired by American industrial safety group Total Safety, which allowed Zadnikar to transform his yachting hobby into a business. Founding the company, Zadnikar announced an investment of €32 million to jump start SeaNet's fleet in the Med, which is based on a co-ownership model.
Made up of Azimut and Benetti yachts of up to 40 meters, the idea is to give owners an option to buy only part of a yacht and improve its efficiency. On a 93ft Benetti Delfino, priced at €9 million, SeaNet lets you buy a 25% ownership stake for €2.3m with annual running costs of just over €110,000 instead of €450,000. This set up grants buyers a total of 7 weeks of use of that type of boat in the SeaNet fleet for 7 weeks per year.
Ian Malouf built his wealth in waste management in Australia with the DADI Group that was ultimately acquired by Bingo for $578 million earlier this year. With the help of his daughter, Ellie Malouf, the two have now switched their attention over to yachting with Ahoy Club, a market that they're now positioning themselves to try and dominate.
Owner of the 54-meter Mischief, which Malouf is also marketing for charter through Ahoy from €137,650 per week in the off-season, the Australian businessman recently listed the yacht for sale at an asking price of €24 million.
Philippe Bacou also launched his yacht platform, Yotha, in 2018 after 15 years of experience on the ownership and charter side of the market. Earlier in 2018, the French businessman raised an additional €1.4 million from strategic investors to develop and launch Yotha. His 43-meter ISA, Philmi was delivered in 2014.
Antonini Navi introduces the Sport Utility Yacht – SUY 135, a groundbreaking vessel conceived by Aldo Manna, Partner and Sales Director, along with designer Fulvio De Simoni. Moravia Yachts has been appointed as Central Agency. Hull number #1 is already in construction with delivery slated for 2026.As part of Antonini Navi's broader vision, the SUY 135 is a precursor to the SUY 190 and SUY 108, forming a comprehensive lineup of versatile superyachts designed to navigate deep waters while embracing luxury and environmental harmony.Currently under construction at the shipyard in Italy, the SUY 135 spans 44 meters in length and boasts approximately 480GT. This steel displacement motor yacht marks the debut of Antonini Navi's Sports Utility Yachts – SUY series.Designed by Fulvio de Simoni with naval architecture by Studio Arrabito, the SUY 135 seamlessly blends superyacht elegance with unparalleled world-cruising capabilities."The SUY offers limitless experiences, akin to an SUV in the automotive realm," remarks Aldo Manna. "It's designed to enable owners and guests to fully immerse themselves in yachting, equipped with toys, amenities, and tenders for a myriad of recreational activities."Alessandro Diomedi of Moravia Yachting expresses pride in representing Antonini Navi's SUY series, highlighting its innovation and voluminous capacity for water toys while prioritizing owner privacy and lifestyle.The SUY 135's flexible design allows for extensive internal and external customization, featuring a main and upper deck linked by a raised deck with five guest cabins. The owner's suite, spanning 56 square meters, resides on the main deck, offering luxurious seclusion.External spaces include a 40-square-meter veranda for al fresco dining and a 35-square-meter beach club with a transom hot tub. The sun deck boasts panoramic views, a second hot tub, and ample relaxation areas.Equipped with a transversal tender garage and achieving a range of 4,000 nautical miles at 10 knots cruising speed, the SUY 135 sets new standards in environmental consciousness.The Pertusola shipyard in the Gulf of La Spezia was bought by Walter Antonini in 1977. Since then, Antonini Navi has been a family-held leader in superyacht custom build and refitting.Credits: Antonini Navi
April 18, 2024
In a remarkable display of innovation and engineering prowess, eD-TEC's groundbreaking eD 32 c-Ultra high-performance all-electric RIB has successfully completed its first sea trials after just nine months of intensive development. These trials, conducted in the Adriatic Sea near Punat, Croatia, mark a significant milestone in the advancement of electric boating technology.At the heart of the eD 32 c-Ultra lies eD-TEC's revolutionary Technology Stack, seamlessly integrated with twin plug-and-play eD-QDrive 200kW propulsion units, driving surface-piercing propellers. With a net battery capacity of 105kWh, this blank-sheet design sets new standards in the industry, delivering exceptional performance, stability, and manoeuvrability.During the trials, dubbed as an engineering feat, the eD 32 c-Ultra demonstrated remarkable capabilities, boasting a 25-knot cruise and an impressive range of over 40 nautical miles. These results underscore the vessel's potential to revolutionize the marine industry, offering an environmentally friendly alternative without compromising on performance.Michael Jost, founder of eD-TEC, expressed optimism about the vessel's future, stating, "We are thrilled with the initial performance of the eD 32 c-Ultra during its maiden sea trials. Preliminary estimates indicate a range of 20 to 40 nautical miles and a current cruising speed of 25 knots, with anticipated improvements to reach approximately 30 knots."Furthermore, the trials provided valuable insights into optimizing the vessel's efficiency and performance. Adaptive steering, inspired by automotive systems, and innovative hydrodynamic design elements were highlighted as areas for refinement to enhance stability and reduce power consumption.Looking ahead, eD-TEC remains committed to pushing the boundaries of electric boating technology. Plans for a two-week Booster Sprint, focused on software optimization and charging efficiency, aim to further enhance the vessel's capabilities.Philipp Lehr and Marc Jost, project leads for the eD 32 c-Ultra, expressed satisfaction with the trials, emphasizing the vessel's reliability and performance. "After approximately 500 kWh, we have encountered no system disruptions thus far, and all temperatures have remained within optimal ranges," they reported.As the eD 32 c-Ultra continues its journey towards commercialization, eD-TEC remains dedicated to pioneering sustainable solutions for the marine industry. With ambitious plans for future developments, including solar-centric off-grid solutions, the company is poised to revolutionize the concept of luxury shoreside living and on-water escapes.Indeed, the eD 32 c-Ultra represents not just a vessel but the beginning of a new era in electric boating, offering a glimpse into the future of sustainable marine transportation.Credits: eD-TEC
April 18, 2024
Feadship's highly anticipated Project 1012 has emerged from the construction shed at the Makkum facility, marking a significant milestone as the yacht prepares for sea trials ahead of its delivery. Notably, Project 1012 is the first Feadship vessel to boast full Hybrid Electric Class notation.Designed by Sinot and the owner's design office, with naval architecture by Feadship De Voogt Naval Architects, Project 1012 was commissioned by a seasoned Feadship owner with a wealth of yachting experience. The yacht's exterior styling reflects meticulous design with precise input from the owner, while the interior promises to be a beautifully crafted and meticulously detailed family retreat.Measuring an impressive 91.80 meters, Project 1012 boasts crisply chamfered exterior contours complemented by a traditional flared bow, creating a modern-classic ambiance. Despite its generous volume, the interior is thoughtfully designed to provide intimate spaces for family gatherings, featuring natural materials and finishes throughout.One of the owner's key desires was to enhance the yacht's beach club, which now spans a quarter of the lower deck's total length. With a vast, fixed stern platform and two fold-down platforms, the beach club offers an expansive 165 square meters of water-level lounging space. Additionally, a side-loading garage between the engine room and beach club can accommodate two 10-meter tenders, a ski boat, and various water toys.The main deck aft boasts a large pool and open-air lounge, while comfortable guest suites and staff cabins adorn the main deck forward. The upper decks house the master stateroom, family lounge, and wellness area, while the sundeck offers a prime observation point with forward-facing seating and sun loungers.Project 1012's propulsion system integrates cutting-edge Feadship technology, featuring two main engines, shaft-driven fixed pitch propellers, and PTO/PTI electric motors coupled with 1MW of Li-ion batteries. This innovative setup allows for both conventional diesel propulsion and electric motor operation, providing enhanced efficiency and reduced environmental impact.Albert Abma, Feadship project manager, expresses his satisfaction with the collaboration, stating, "Working with the experienced owner, designers, and owners team has been a professional pleasure. Gathering the operational experience of the owners team with the yard’s building experience has resulted in this modern-classic, state-of-art and full custom new Feadship."Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Feadship
April 18, 2024
Sanlorenzo is set to grace the British Motor Yacht Show for the first time from May 16th to 19th, 2024. Attendees of the event, hosted at Swanwick Marina in Southampton, will have the exclusive opportunity to immerse themselves in the world of Sanlorenzo. From its cutting-edge design to its unparalleled craftsmanship and extensive customization options, visitors can explore the elegance and sophistication synonymous with the brand.SL90ASanlorenzo Yachts UK will showcase the magnificent Sanlorenzo SL90A, a 28-meter vessel that will also be the largest yacht on display at the four-day show. Nick Hatfield, Sales Manager at Sanlorenzo Yachts UK, expressed excitement about the debut, stating, "We’re delighted to be bringing one of our stunning Sanlorenzo yachts to the British Motor Yacht Show for the first time. It’s a fantastic opportunity to experience the true meaning of customization and understand Sanlorenzo’s ethos of innovative design, tailored to the requirements and desires of each individual owner."Designed by Bernardo Zuccon, the SL90A boasts an elegant and modern interior, featuring a harmonious blend of different wood, marble, and fabric textures. The innovative Asymmetric design, highlighted by the A in SL90A, elevates the yacht's interior volume, enhancing the main deck saloon's connection with the sea through expansive floor-to-ceiling windows.BG42Accommodating up to eight guests in four well-appointed staterooms, each with its own en-suite bathroom, the SL90A offers comfort and style ideal for family gatherings or entertaining friends.Crafted by Sanlorenzo Yacht at its Ameglia base in Italy, this class-leading yacht offers a timeless aesthetic while pushing the boundaries of conventional design.In addition to the SL90A, Sanlorenzo Yachts UK will also present the BG42 from Bluegame, a brand under the Sanlorenzo umbrella. 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: maa.agency; Yacht Harbour archive
April 17, 2024
Lady A, the distinguished 55.2-meter motor yacht crafted by Nishii Zosen-Sterling, has found a new owner after just a year on the market. Simon Goldsworthy of Edmiston facilitated the sale, representing both the seller and the buyer in this transaction.Originally christened Southern Cross III, Lady A boasts a timeless design conceived by the renowned Jon Bannenberg and was meticulously constructed by Japanese shipyard Nishii Zosen-Sterling in 1986. Undergoing a significant transformation in 2017, the vessel underwent extensive refurbishments valued at over €12 million, including a complete interior overhaul, an expansion of the upper deck, and the installation of state-of-the-art Quantum zero-speed stabilizers.Lady A's upper aft deck has been elegantly extended to serve as the primary sunbathing area, featuring plush sofas, inviting armchairs, and a spacious alfresco dining spot accommodating up to 14 guests. Awnings can be swiftly erected by the crew to provide shelter from the sun.The interior layout is equally captivating, with the main lounge situated on the upper level, offering a relaxed ambiance with sliding glass doors, a raised reading nook, and a well-appointed bar. The vessel's unique design includes a split-level observation lounge boasting breathtaking 180-degree vistas.Ample accommodation is provided for up to 12 guests across six cabins, including a lavish owner's suite with a private office, three double guest cabins, a VIP guest cabin, and a twin guest cabin. The interior, masterfully refurbished by Design Unlimited, showcases walnut cabinetry, solid timber floors, and a soothing palette accented with mauve hues.Lady A is propelled by two rebuilt 3516B Caterpillar diesel engines, boasting a cruising speed of 13 knots. Currently located in Italy, the yacht was last listed at €7,900,000 with VAT paid.Credits: Yacht Harbour archive
April 17, 2024