The federal government of Malaysia has reportedly spent around $3,500,000 on maintenance of Oceanco superyacht Equanimity since her reclaiming in August, 2018.
A written notice from Malaysian Finance Minister, Lim Guan Eng states that around $2,700,000 was spent between August and December last year, with the rest counted until March this year.
He also explained that Wilson Yacht Management Ltd experienced and expert in maintaining luxury ships had been appointed to maintain the vessel.
"Since August until December last year, the total cost spent on the vessel is 11,000,000 Malaysian Ringgit, including to cover maintenance, repair, fuel, legal fees, insurance, and other related expenses related to the process of selling the yacht," commented Lim.
Equanimity is now docked in Langkawi, a district and an archipelago of northwestern Malaysia. She remains under custody of the Kuala Lumpur High Court, according to Lim.
The government, opted a direct sale, encouraging parties potentially interested in purchasing Equanimity approach the government or 1Malaysia Development Berhad (1MDB). However, no bids made during the first phase were agreed upon.
Equanimity, that currently belongs to the Malaysian government, is to be sold for no less than $130,000,000, which halves her initially estimated price of $250,000,000.
It was earlier reported that the revenue made of the vessel’s sale was to be paid to the court and placed in a bank account in Malaysia, as approved by the Accountant-General.
Turkish yacht builder Numarine has launched the first unit of its new 40MXP model, a 40-meter superyacht that becomes the flagship of its XP explorer series. Two additional hulls are currently under construction, with deliveries scheduled for 2025.The 40MXP represents an evolution of the shipyard's popular 37XP model, maintaining the series' long-range capabilities while introducing new Mediterranean-inspired features. The yacht retains a 6,000-nautical-mile range at 8 knots, achieved through an optimized hull design by naval architect Umberto Tagliavini.Ömer Malaz, Chairman at Numarine, stated:"Preserving the same stylistic cues and DNA of all our models, the 40MXP retains our high-volume, low-maintenance, long-range ethos while offering a number of new design features that enhance the intimate connection with the sea that a yacht provides."Key design developments focus on outdoor living spaces, particularly an expanded aft deck area achieved through both increased hull length and strategic repositioning of the saloon doors. This space accommodates an alfresco dining area, bar, lounge, and a standout feature - an aft pool with glass transom. The area connects to a full-beam hydraulic swim platform and can be shaded for sun protection.Power comes from twin MAN 800hp engines as standard, with an optional 900hp Tier III-compliant configuration available. The yacht's 8-meter beam allows for generous interior volumes, with accommodation for up to 12 guests across six suites, including a full-beam master stateroom on the main deck. Two additional customizable cabin spaces offer layout flexibility.Designer Can Yalman handled both interior and exterior styling, maintaining Numarine's signature aesthetic. The model inherits successful features from the 37XP including an expansive flybridge and substantial tender storage capacity. The tender deck can accommodate a 9-meter tender, three jet skis, and additional water toys.Chris Gore, Sales & Marketing Director at Numarine, commented: "We are extremely excited to have delivered the first of the all new 40MXP. Our new flagship offers true luxury blended with versatility be that for family or charter use, whilst maintaining our core Numarine DNA."The 'MXP' designation reflects the yacht's Mediterranean explorer concept, emphasizing connection to the water while retaining transoceanic capabilities. The model enters a competitive segment of the explorer yacht market, positioned as a bridge between luxury cruising and serious long-range functionality.With this launch, Numarine continues its focus on the explorer yacht segment, building on the commercial success of its XP series. The 40MXP's combination of extended range and enhanced outdoor living spaces targets owners seeking both adventure capability and contemporary lifestyle features.Credits: Kerem Sanliman/Numarine
July 18, 2025
The Italian Sea Group has completed delivery of a new 78-meter Admiral megayacht from its Marina di Carrara facility. The vessel, now the flagship of the Admiral fleet, features exterior and interior design by Sinot Yacht Architecture & Design.The yacht's distinctive profile incorporates a two-tone metallic paint scheme in white and blue hues. Its unconventional three-deck layout provides streamlined aesthetics while maintaining interior volume. The propulsion system combines five variable-speed generators with two 2-mW azimuth pods, delivering 5 mW total power output. This diesel-electric configuration achieves a top speed of 17 knots with reduced vibration and noise levels.Technical features include a lithium polymer battery bank enabling zero-emission operation for limited durations and peak load management. The system incorporates SCR (Selective Catalytic Reduction) and DPF (Diesel Particulate Filter) technologies, with exhaust routed to the masthead for dispersion.Interior spaces feature panoramic windows in the bridge salon and designer lighting elements. Amenities include a 6-meter swimming pool, spa facility, gymnasium, diving area, and Touch & Go helipad. Material selections emphasize premium finishes with a neutral color palette throughout guest areas.Gianmaria Costantino, CCO of The Italian Sea Group, stated: "This delivery marks a new and important milestone for our Group. Every detail of this yacht reflects our vision of contemporary luxury – where top-tier craftsmanship, timeless design, and sustainable innovation come together in perfect harmony."The project represents the shipyard's continued focus on large custom superyacht construction, incorporating both advanced marine technologies and bespoke design elements. The delivery underscores the group's capability to execute complex megayacht projects for discerning clients.With this completion, The Italian Sea Group reinforces its position in the upper segment of the global superyacht market. The vessel now joins the operational fleet of Admiral-branded yachts, with the shipyard maintaining its production schedule for additional custom projects currently in build.The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credit: Lorenzo Tampucci/The Italian Sea Group
July 18, 2025
Ferretti Group's Yard in Ancona has launched the third hull of the Custom Line Navetta 38 series on March 20. The 38.76-meter displacement yacht, with a beam of 8.00 meters and 299 GT volume, entered the water during a private ceremony attended by the European owner family and shipyard personnel.This marks Custom Line's fifth launch in the first quarter of 2024, demonstrating the shipyard's active production schedule. The Navetta 38 model was developed by Ferretti Group's Product Strategy and Engineering Departments, with exterior design by Filippo Salvetti and interiors by ACPV ARCHITECTS Antonio Citterio Patricia Viel. The Custom Line Atelier team facilitated owner customization throughout the build process.The owners, existing Ferretti Group clients with two previous yachts from the builder, prioritized personalized interior solutions to enhance spatial perception and natural light. Design features include mirrored ceiling panels in the main deck lounge and strategic placement of reflective surfaces along walls and architectural details. Full-height windows were incorporated to maintain visual connection with the marine environment.Notable customizations include a reconfigured galley space with optimized storage depth, designed to serve as a social hub while maintaining aesthetic coherence. Material selections emphasize durability, with Botticino Semi Classico marble specified for the master bathroom.The interior palette combines neutral beige tones with contrasting mocha and brown accents, complemented by natural teak, oak, and leather finishes. Luminous wallpaper treatments contribute to the yacht's refined atmosphere.The Navetta 38 is designed for extended cruising with large guest groups, balancing functional durability with the brand's signature aesthetic standards. The model represents Custom Line's continued focus on customized displacement yachts within its product range.With this launch, Ferretti Group reinforces its position in the mid-size superyacht segment, maintaining production momentum at its Ancona facility. The yacht will now undergo final outfitting before delivery to its owners.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
July 18, 2025
The 70-meter sailing superyacht SY Zero, the world’s first designed to operate entirely without fossil fuels, is approaching the final stages of construction, with an expected launch by the end of 2025. The project, a collaboration between Vripack Yacht Design, Vitters Shipyard, and Dykstra Naval Architects, represents a significant step in sustainable yacht development, backed by over 60,000 hours of research and innovation.SY Zero is engineered to rely solely on wind, solar, and thermal energy while maintaining the performance and luxury standards of a traditional superyacht. The project aims to demonstrate the feasibility of eliminating fossil fuel dependency in high-end yachting. All technical data, system designs, and research findings will be made publicly available through FoundationZero.org, providing open access to sustainable maritime innovations for designers, engineers, and researchers.The yacht’s energy system is entirely electric, powered by a five-megawatt-hour battery storage system—equivalent to the capacity of 88 Tesla vehicles. Renewable energy is harvested through multiple methods: hydro-generating thrusters capture energy from water flow while under sail, a 100-square-meter hybrid solar panel array converts both light and heat at 60% efficiency, and a wind turbine supplements power generation using offshore airflow.Marnix Hoekstra, co-creative director at Vripack, stated: “This project has always been about showing what’s possible. We wanted to demonstrate that comfort, design, and performance can coexist with fossil-free operation. The project has been driven by data, testing, and a long-term commitment to sustainable naval design. Our goal wasn’t just to prove that a fossil-free superyacht is viable—it was to create a real-world model others can learn from.”Vitters Shipyard, known for high-performance sailing yachts, led the construction. Louis Hamming from Vitters commented: “From the outset, this has been about building a yacht that reflects a future we all recognize is coming. It’s a privilege to help bring that future into reality.”The interior accommodates up to 12 guests, featuring sustainable materials such as pine-based leather and leathered marble, which retains natural imperfections. Each cabin draws inspiration from a global destination, with bespoke artworks crafted by local artisans.Following its technical launch, SY Zero will undergo extensive sea trials to test its advanced systems, including proprietary software managing onboard operations. Delivery is expected in 2026, seven years after the project’s inception.Eduard van Benthem, Executive Director at Foundation Zero, emphasized the broader mission: “The project isn’t about showing how good we are, nor even specifically about the yacht itself. We are really trying to showcase how we can do things better and inspire others to join us on the journey, to learn together and to share the knowledge, which is the fundamental aim of Foundation Zero in all its projects.”Beyond private use and limited charter opportunities, SY Zero will serve as a research platform for marine renewable energy and ocean sustainability studies, furthering its role in advancing eco-conscious yachting.Vitters Shipyard is a Dutch high-end performance yacht builder. The shipyard was founded in 1990 by Jan Vitters. The company delivered the first luxury sailing boat, the 28m Aphrodite, in 1993. Vitters Shipyard has a crew of dedicated engineers and craftspeople who have a strong eye for detail and the passion to exceed the expectations of its yacht owners.Credits: Vripack
July 17, 2025
GX Superyachts has provided a progress update on its 42-meter flagship model, the GX42, currently under construction at SES Yachts' facility in Istanbul. The project remains on schedule for delivery in summer 2026, with several major construction phases now completed.The aluminum hull and superstructure are fully assembled, marking the transition to the outfitting stage. Thermal insulation and main piping systems are 80% installed, while electrical work has reached 25% completion. Approximately half of the paintwork has been applied.The hybrid propulsion system, combining diesel-electric drive with solar power generation, has passed factory testing and is ready for installation. Interior furniture, designed by Marco Casali, is 50% complete in workshop production.Vladimir Zinchenko, founder and CEO of GX Superyachts, stated: "It's inspiring to witness the GX42 taking shape so smoothly. Each milestone reinforces our belief that the GX42 will set a new benchmark in responsible yachting — a vessel that delivers both elegant design and low-impact cruising. Thanks to our partners at SES Yachts, Andrea Armas, Marco Casali and Francesco Rogantin, the project is running smoothly and exceeding expectations."The interior design emphasizes family-friendly spaces with a raised pilothouse layout that includes a main-deck owner's suite and full-beam VIP cabin. Natural materials and subdued color schemes reflect the yacht's focus on sustainable luxury.Upcoming work includes finalizing insulation and piping systems, progressing electrical installations, and integrating the hybrid propulsion package. Sea trials are planned for early 2026.Andrea Armas, consultant to GX Superyachts' Board of Directors, noted: "We are pushing the boundary of responsible yachting navigating through a new era of technological advancement, tailoring the dream of Yacht owners into a sustainable reality."Credits: GX Superyachts
July 17, 2025