Earlier this month, the 91.5-meter Oceanco, Equanimity was seized by Indonesian authorities at the request of the US Department of Justice in a case that it has been pursuing since 2016. According to the DoJ, the yacht was purchased with funds siphoned from the Malaysian sovereign wealth fund, a statement that her presumed owner, Jho Low and the government of Malaysia are refuting.
Built in 2014 by Oceanco in the Netherlands, Equanimity, one of the 60 largest yachts in the world, became the first yacht to be built to the new PYC standard, allowing her to accommodate up to 26 guests in addition to a crew of 28. According to a complaint filed by the DoJ in June 2017, the US believes over $250 million of allegedly siphoned funds were used to build and maintain the 91-meter yacht from World View Ltd, a company based in the Cayman Islands.
The complaint goes on to refer to an exchange between a Hill Dickinson lawyer and a banker, referring to World View Ltd as a family trust of which only the Low family are beneficial owners of. Following the delivery of the yacht, just over €101 million were reportedly sent to the Dutch shipyard according to the DoJ.
Following her delivery, Equanimity went on to be presented at the Monaco Yacht Show in 2014, winning the title of best boat at the show that year. Amongst her amenities are an extensive spa area that takes up most of the lower deck with a steam room, beauty salon, sauna, experiential shower as well as a swimming pool. Other features include a helipad and spacious living rooms and suites.
The US Department of Justice's interest in the boat doesn't, however, stem from its many luxurious amenities. Indeed, the yacht is now caught up in an investigation into $4.5 billion that were allegedly misappropriated from 1MDB, Malaysia's sovereign wealth fund set up by its Prime Minister, Najib Razak.
"If you look at the documents, including the Department of Justice summons, it is only an accusation on who the owner is. There is no evidence linking 1MDB to the ship's purchase." said Datuk Seri Salleh Said Keruak, Malaysia's communication and multimedia minister on March 5th.
Amongst the individuals being investigated with regards to this case is Malaysian financier, Jho Low, the owner of the 91-meter yacht according to the United States Government. "Disappointing that, rather than reflecting on the deeply flawed and politically motivated allegations, the DOJ is continuing with its pattern of global over reach - all based on entirely unsupported claims of wrongdoing" a spokesperson for Low was quoted in Malaysian media last week according to Reuters.
Following a complaint issued by the US, Equanimity was eventually seized earlier this month near Bali by Indonesian authorities. Its AIS tracking system had been switched off back on January 1st, making the location of the yacht unclear until now. According to a statement released by the captain's lawyer, he had no idea who the owner of the yacht was. "As far as the captain is concerned, what he knows is that the yacht is owned by a company registered in the Cayman Islands."
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The second hull of the 42-metre E-Volution hybrid sloop has been launched in the water at Perini Navi Istanbul facility. It is the second launch of that particular model within a year, with construction still in progress on both hulls.With ‘E’ standing for electric the 42-metre E-volution was first presented at the Monaco Yacht Show 2017. The vessel features a hybrid propulsion engine system, combining diesel engine with eco-friendly electric motor and contributing to the yard's course on environmental sustainability. While the yacht’s naval architecture was designed by US-based Reichel-Pugh studio, the head of Perini Navi in-house design department developed the yacht’s exterior styling. The 42-metre comes with aluminium hull and carbon fibre superstructure.Within 275GT interior, the design concept trademarks a foldable transom door, giving staircase access to both sides of a sea-level alcove. A sail drum storage is situated below deck, whilst carbon fibre helm pods lay at the aft.Accommodation on-board will be provided to a total of eight guests across four cabins, while the crew quarters will accommodate seven people.The diesel-electric system will allow silent cruising with a range of 3,200 nautical miles at the speed of 10 knots, given that the yacht's total fuel capacity will make 20,000 litres.The vessel will now be moved to Viareggio for completion. She remains on track for a 2021 delivery. Meanwhile, the builder has recently sold the first unit of the 47-metre sailing yacht of the E-volution range.
December 6, 2019
Financial news source Milano Finanza has reported that Italian yard Sanlorenzo has been on track for its trading debut on Italian Stock Exchange on December 10.Sanlorenzo CEO Massimo PerottiDuring the Cannes Yachting Festival 2019, CEO and majority shareholder of Sanlorenzo, Massimo Perotti, made an official announcement about the company’s IPO plans by the end of the year. Now, the release date for the Milan Stock Exchange has been announced. Meanwhile, Perotti has been recently named the Entrepreneur of the Year in Italy.According to Milano Finanza, Massimo Perotti has completed the company’s international roadshow with the share offering covered by several Italian and international investors. Among institutional investors are Kairos, Mediolanum, Fideuram and Azimut, along with JP Morgan, Amundi and Norges placing ‘heavy-hitting’ bets on Sanlorenzo.The final share price has not been revealed so far. Sanlorenzo will have 31.9% of its share capital on offer, with an indicative price of €16 to €19 per share, to a targeted valuation of €480 to €570 million.Noteworthy, Ferretti Group, one of the main competitors of Sanlorenzo, abandoned the idea of trading on the stock exchange due to unsatisfactory results of the public offering period earlier this year.
December 6, 2019
By November 2020, new superyacht marina should be completed and open for yachts on Navi Island (Fiji). Located in a 10-minute drive from Savusavu Airport, it is set to become one of the region’s first green facilities.The 150-berth Marina is conceived as one of the first eco-friendly yacht harbours in the world, by forbidding the use of disposable plastic bags on its territory. What is more, the marina and associated resort will be powered by renewable solar energy.Nawi Island Ltd’s Managing Director Mike Gann commented: We intend to be one of the first green marinas in the world. In doing so, the development on the island will be powered by renewable energy, namely solar. We are also putting in place an organic wastewater treatment system for the whole island and in addition, the company is using sustainable and organic building materials on the island.The marina’s berths will be able to welcome boats from 10 to 60 meters in length. In addition, fuel and power connections along with fire service pedestals, wastewater pump-out, ferry and taxi pontoon and a 75-tonne travel lift will be provided.The yard will offer repair and maintenance services, a hard stand, pull-up fuel and wastewater pump-out, and long-term dry storage. The marina will also comprise a hotel with a spa and sports facilities, 38 private villas and a yacht club.The works should be completed by early 2020. The official opening should take place ahead of the 2021 America's Cup yacht race held in New Zealand.
December 5, 2019
The 78-metre Full Custom superyacht project by Dutch builder Amels has touched water for the first time. The vessel is the builder’s largest superyacht in terms of interior volume. Earlier launched at Damen hull-building facility on the Danube, the 2,850 GT yacht features Espen Øino design and naval architecture and interiors by Zuretti Interior Designers. She is scheduled for completion in 2021, following transport to the AMELS outfitting yard in the Netherlands.Although several Amels superyachts including the 83-metre Here Comes The Sun and the 82-metre Ilona outdo the new-build in terms of LOA, the new Full Custom project features larger Gross Tonnage to make her the largest Amels superyacht once delivered.Espen Øino comments on the project’s details:The layout with the big pool on the upper deck with the boats below either side, but they are all hidden so you don’t see it. And of course the balconies with the direct access from the cabins out which you can spot very easily and it’s actually looking pretty amazing. The contract for construction of the vessel was signed in 2017, during the Monaco Yacht Show. Representing the owner, Andrew Tree of Superyacht Technical Services commented:This truly custom yacht, with stunning design both inside and out, could only be achieved with the greatest collaboration, having the very best of European design and the highest quality of construction and management.
December 4, 2019
The largest private sailing ketch in the world, the 86-metre superyacht Aquijo has been seen arriving in Antigua to take part in Antigua Charter Yacht Show taking place December 4-9.Video: Dutch YachtingThe 6th largest sailing superyacht in the world, Aquijo was built in 2016 out of collaboration between two Dutch shipyards, Oceanco and Vitters. Vitters developed a custom steering system specially for Aquijo. It transmits the hydrodynamic forces on the rudder blades directly to the steering wheels on the flybridge, thus providing the helmsman with immediate feedback and a feeling for how the yacht is moving through the water. German studio Dölker + Voges was responsible for her interior design, whilst Tripp Design Naval Architecture styled her exterior. The yacht comprises 4 decks and accommodates up to 12 guests across 17 cabins. On-board, Aquijo offers space and amenities normally seen on motor yachts, comprising guest elevator, interior and exterior dining for up to 24 people, 3 outdoor bars and a beach club with steam room, sauna and ocean view Jacuzzi. craftsmanship.The package of Aquijo’s toys and tenders includes and does not confine to 3 tender boats, 1 jet ski, 4 kayaks, 2 wakeboard, 3 water skis, 3 stand up paddle boards, 8 diving packs etc.Featuring a mast of of 90 metres, Aquijo boasts a maximum speed of 17.5 knots.The vessel is available for charter from EUR 450,000 per week in winter season.Photos via Y.CO.
December 4, 2019