Classic Feadship Yacht Sultana Has Been Sold

Two long-established German shipyards, Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug, have filed for insolvency amid ongoing financial difficulties faced by their parent company, Tennor Group, and its owner, Lars Windhorst.District courts in Flensburg and Neumünster have appointed lawyers Christoph Morgen of Brinkmann & Partner and Hendrik Gittermann of REIMER as provisional insolvency administrators. These filings follow months of instability and reported mismanagement, during which the shipyards struggled to meet operational costs and payroll obligations.On Monday, Schleswig-Holstein’s public utility provider threatened to cut off power at the Rendsburg facility after unpaid bills dating back to December 1. The shutdown was temporarily postponed because a federal police vessel remained at the yard for repairs.The financial collapse has affected around 500 employees at both facilities, leaving many uncertain about their future before the holiday season. Some have already lost their jobs. At a recent rally in Flensburg, workers’ union representatives claimed delayed salary payments, including outstanding November wages and Christmas bonuses. Jan Brandt, chairman of the Flensburg Works Council, accused Windhorst of repeated dishonesty and unkept promises regarding timely compensation.In recent months, workers, unions, and political figures have criticized Windhorst, citing poor management and lack of transparency. Schleswig-Holstein’s Economics Minister, Claus Ruhe Madsen, urged Windhorst to assume responsibility and consider selling the shipyards. With insolvency proceedings now underway, new investors may have the opportunity to restructure operations and stabilize the workforce.Tennor Group took over FSG in 2019 and rebranded it as “FSG 2.0,” but failed to secure the orders needed to ensure long-term viability. In 2021, FSG acquired Nobiskrug following the latter’s own insolvency proceedings, though this acquisition did not resolve ongoing financial problems. During summer 2024, the federal government withdrew a €62 million grant intended for LNG bunker ship construction at FSG, citing insufficient equity from Tennor.The provisional insolvency administrators are now working to resolve existing projects, including a RoRo ferry at FSG and a yacht at Nobiskrug. They may seek interim financing from federal and state governments until clients accept completed projects and provide payment. Insolvency pre-financing has been arranged to secure compensation for approximately 340 employees in Flensburg and 140 in Rendsburg through January 2025, covering overdue November salaries.Local officials and industry observers have suggested that FSG should pivot to manufacturing components for offshore wind energy projects to meet growing market demand. Others have recommended that Nobiskrug broaden its portfolio to include commercial vessels. With new ownership and strategic adjustments, the shipyards may still find opportunities to recover and rebuild their reputations in the maritime industry.German shipyard Nobiskrug was founded in 1905. Recognised today as one of the world’s foremost builders of spectacular fully custom superyachts, the shipyard is famous for the 92m Tatoosh, the award-winning 68m Sycara V, the 74m Mogambo, the 143m industry-changing Sailing Yacht A, and the environmentally innovative 80m Artefact.Credits: Nobiskrug

Milan-based design studio Hot Lab, part of the Viken Group, has provided a custom interior for the recently delivered M/Y Oculus, the latest unit in the Numarine 37XP explorer yacht series. This marks the fourth collaboration between Hot Lab and Numarine on this particular model.The Numarine 37XP’s design is characterized by an angular exterior, large trawler-style windows, and a pronounced bow. According to Hot Lab, the interior concept for M/Y Oculus was developed to reflect these purposeful lines while also meeting the owner’s requirement for a contemporary yet robust aesthetic. The design process was carried out remotely during the yacht’s construction phase.The interior features a blend of contrasting tones and materials. Pale upholstery stands against darker cushions, while dark-stained oak flooring contrasts with white deckheads. The chosen materials include ebony slats, white marble with dark veining, and organically patterned wool carpets. Stone elements, such as three large backlit onyx panels in the upper saloon’s bar area, contribute to what Hot Lab describes as a masculine ambiance, complemented by stitched leather bar stools and metallic mesh detailing.The yacht’s layout includes an open-plan main deck saloon with floor-to-ceiling glass, dining and lounge areas, a forward owner’s suite on the main deck, four guest cabins below, and additional lounges on the upper deck and flybridge. Numarine Chairman Ömer Malaz noted that the 37XP series aims to combine a spirit of exploration with interior design that aligns with the yacht’s overall character.M/Y Oculus was delivered in summer 2023 and is the latest result of a longstanding partnership between Hot Lab and Numarine. The studio reports that experience with previous units in the series informed its approach and execution on this project.The Viken Group includes Tillberg Design of Sweden, Hot Lab and Thalia Marine. It has been established to gather leading and passionate companies, with similar ideas and business ethics, under one umbrella. This enables it to provide a full range of completely aligned and comprehensive design, naval architecture and project management services.Credits: Kerem Sanliman/Numarine

Bilgin Yachts has launched Al Reem, the third and final yacht in its 80.1-meter Bilgin 263 series. Sold in 2022 through brokerage firm Bluewater Yachting, Al Reem follows the delivery of Tatiana, introduced at the 2021 Monaco Yacht Show as the largest yacht built in Turkey, and Leona, delivered in 2023.Al Reem, formerly known as Project Silence, is said to offer increased volume – around 100GT more than its predecessors – and additional exterior deck space, as well as a larger mast structure. All three units of the series share a slender exterior profile by Unique Yacht Design and interiors by H2 Yacht Design.The latest hull incorporates various design modifications, including a teak foredeck, a superstructure finished in a metallic grey-white and black scheme, and a reconfigured internal layout with enlarged living areas. Technical refinements include a lengthened upper deck and an extra covered area at the stern.The owner’s deck, positioned on the main deck level, provides 300-degree views and access to an outdoor terrace and hot tub. Guest accommodation comprises two VIP cabins on the main deck and three guest cabins on the lower deck. A secondary saloon on the lower deck includes a balcony-style opening to the sea. An elevator connects all decks.Al Reem’s interior uses materials such as matte timber, cream leather wall panels, silk carpets, and marble feature walls. According to H2 Yacht Design’s Jonny Horsfield, the interior is designed to be “light and modern,” differentiating it from the layout and design of Tatiana.<iframe width=560 height=315 src=https://www.youtube.com/embed/FF3TcLuDFNk?si=VGpDFVuo2UIL8Pt5 title=YouTube video player frameborder=0 allow=accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share referrerpolicy=strict-origin-when-cross-origin allowfullscreen></iframe>In terms of technical capabilities, Al Reem features a new ventilation system and increased generator capacity. Equipped with twin 2,560 kW engines, the yacht can reach a maximum speed of 19 knots and has a reported range of up to 6,000 nautical miles.With the launch of Al Reem, Bilgin Yachts concludes its 263 series. Delivery of Al Reem is scheduled for 2024. Bilgin Yachts is a boutique shipyard on the European side of Istanbul, building 50 to 120m luxury superyachts. It has been a family-run business for five generations since the early 1900s.Credits: Bilgin Yachts

Northrop & Johnson has confirmed the sale of the 25.8-meter Feadship motor yacht Monara. Yacht brokers Ed Dickinson and Ed Cavendish acted on behalf of both buyer and seller, with the yacht last listed at EUR4,500,000. Originally built in 1969, Monara underwent a complete rebuild at Feadship’s Makkum yard in 2016, placing it among the Feadship Heritage Fleet. The rebuild included the installation of Zero Speed stabilizers and a silent electric battery system.Inside, the main salon is designed with warm oak finishes and offers an L-shaped settee and a concealed pop-up TV. A glass floor panel provides a view of the yacht’s restored Gardner main engines. The galley features a Dutch door that opens to the main deck, creating an integrated indoor-outdoor living area.Accommodations include four staterooms for up to eight guests. The master suite, lit by four hull windows, has a queen-size bed and an ensuite with adjustable privacy glass. The VIP cabin is also ensuite, while two additional guest cabins can be configured as twin or double rooms and share a bathroom.Externally, Monara retains classic yacht elements, including a clipper bow and canoe stern. The covered aft deck features seating around a teak table, accommodating up to 12 for alfresco meals. The sundeck is equipped for multiple functions, offering a convertible 10-person sunbed, an L-shaped lounge, an additional sunbed forward, and shade options via adjustable sails.Following its recent sale, Monara continues to represent a combination of traditional Feadship craftsmanship and contemporary onboard technology.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

Ocean Independence has unveiled Project Kumu, a 46-meter hybrid-powered yacht concept developed by a design team from D-ID in Winchester, with naval architecture by Southampton-based Lateral Engineering. Initially conceived for a specific client seeking a fast day-boat style superyacht constructed in aluminum and featuring a sailing yacht profile, the project evolved after the client did not proceed.Project Kumu’s design includes a hull optimized for efficiency and a hybrid propulsion system intended to enable silent operation at anchor. The main deck’s aft section spans approximately 200 square metres, incorporating fold-down platforms and flexible social areas. An open-plan saloon connects directly to an external bar and deck spaces, aiming to provide an uninterrupted flow between the interior and exterior. Large windows, a skylight, and an adaptable layout are intended to allow daylight to define and separate spaces without fixed boundaries.Accommodation plans include three substantial cabins for the owner and VIP guests on the main deck’s bow section, while two additional guest cabins and a secondary multi-function saloon with a balcony door are positioned on the lower deck. The design also includes a sun deck of about 285 square meters, made possible by sinking the wheelhouse into the deck structure.With an anticipated range of 3,500 nautical miles, the yacht’s hybrid propulsion targets long-distance travel, such as routes between the Mediterranean and Caribbean. Storage for two tenders – one 7.5 meters on the aft deck and one 5.5 meters in the toy garage – alongside space for various equipment, is included in the concept.Ocean Independence indicates that Project Kumu is now ready for the next phase and notes that quotes are already available from several shipyards capable of bringing the concept into construction.Credits: Ocean Independence