Malaysia-based entertainment conglomerate, Genting Group has increased its ownership stake in Italian shipyard, Wider to a 100% through its cruise line arm, Genting Hong Kong, expanding its interests in the yachting space further.
Established by Tilli Antonelli, former CEO of Pershing (acquired by Ferretti Group), Wider Yachts was established in 2010 with first a 13-meter model, the Wider 42, whose prime selling point became the extendable platform located amidst ship.
Wider's plans to build larger yachts were however publicly introduced in 2011 when Antonelli announced the Wider 150. A year later the 47-meter was under construction, following a switch from composite to aluminium and other design changes.
According to the Timeline index, the Wider 150 was sold in May 2013 with a last recorded asking price of near €22 million. In 2015, the newly named Genesi was made available for sale once again by the shipyard asking €26,5 million and ultimately sold to a Canadian buyer in December 2016, who renamed her to Bartali.
Genting's involvement with Wider however began back in December 2012 when the conglomerate made an investment in the Italian shipyard via a capital increase that saw it gain a 50% stake in the company. "I decided to back Wider as I was impressed both with its course of development and its ability to establish itself on the international market." commented Genting's chairmain, Tan Sri Lim Kok Thay at the time of the investment.
The Malaysian conglomerate's involvement with Wider Yachts didn't however limit itself to it owning 50% of the company as the Genting Group also bankrolled the ongoing construction of Project Cecilia, the first Wider 165, as well as ordered 4 smaller Wider models from the shipyard, as a regulatory filling from December 2014 shows.
Project Cecilia is currently for sale with a last recorded asking price of €30 million, however should a sale not occur prior to its Q1 2018 delivery, it is likely that the Genting Group will take delivery of the yacht. At the time of the sale of the Wider 150, the shipyard stated that Genesi was originally intended for the current owner of Project Cecilia, which is the Genting Group as fillings show.
The Malaysian group's interests in yachting do not limit themselves to Wider Yachts as Genting Group owned a 24,85% stake in Grand Banks Yachts in December 2014 as well as a 15% stake in luxury submarine manufacturer U-Boat worx. Regulatory fillings in December 2014 valued the group's yachting interest, including its share in Wider, at just under $38 million.
Genting's chairmain, Tan Sri Lim Kok Thay, whose net worth is valued at $4,5 billion by Forbes, became involved in U-Boat worx through an investment he made back in December 2013. "This is an innovative product that offers the unique experience of deep-sea exploration and ocean diving without getting into scuba gear" commented Genting's chairman at the time of the investment.
In 2015, Genting Hong Kong acquired a majority stake in Lloyd Werft, the German shipyard at which it had several cruise ships on order for its Crystal Cruises line, for €17,5 million. Mostly known for cruise ship construction, Lloyd Werft is also the shipyard behind the construction of 114-meter explorer, Luna for Russian oligarch Roman Abramovich now owned by Farkhad Akhmedov.
The Genting Group's expanding interest in the yachting business in recent years comes in a strong trend of large corporations from Asia entering yachting. Indeed, in January 2012, Chinese conglomerate, Weichai acquired a controlling stake in Ferretti Group, which recently posted profits for the first time since 2008. In 2013, Sunseeker was acquired by the China-based, Wanda Group. In 2016 Lai Sun Group acquired near half of Camper & Nicholsons International.
Project Tanzanite, a 120-meter Amels Full Custom superyacht, has reached the next stage of construction following her launch at the Damen Yachting facilities in Vlissingen. At 6,083 GT, she is the largest new build completed by Amels to date.The yacht first entered the Netherlands in June 2023, arriving from Damen Yachting’s hull building facility in Galati, Romania, where the hull had been constructed. Since then, she has been prepared for outfitting at the shipyard’s facilities in Vlissingen City. In the weeks leading up to the launch, Project Tanzanite was floated inside the dock before moving into open water.With the yacht now in Vlissingen for the final phase of work, more than 1,000 people, including Damen Yachting teams and members of the international superyacht supply chain, will contribute their expertise over the next year. Completion is scheduled for 2026.Project Tanzanite is a one-off Amels Full Custom design. The exterior is by Espen Øino, while details about the interior remain undisclosed. Damen Yachting provided the naval architecture for the project.Key figures for the yacht include a length of 120 meters (394 feet) and a gross tonnage of 6,083.Credits: Amels
September 5, 2025
Ferretti Group will present six world premieres at the Cannes Yachting Festival 2025, held September 9–14, alongside a fleet of 25 yachts. The debuts include models from Ferretti Yachts, Itama, and Riva: the Ferretti Yachts 800, Itama 54, Riva Aquariva Special, Riva Cento, Riva 58’ Capri, and Riva 112’ Dolcevita Super. These will be joined by the Ferretti Yachts 940 and Pershing GTX70, introduced earlier this year in Venice. Wally will also be present with the wallywind110 in the sailing section at Port Canto.The Ferretti Yachts 800, designed with Filippo Salvetti and Ideaeitalia, measures 24.47 meters in length with a beam of 5.91 meters. It offers large windows, an optional salon sliding door, and a 40-square-meter flybridge. Powered by MAN V12 engines, it reaches up to 31 knots.The Itama 54, styled by Tommaso De Luca, features a double-cockpit layout with seating for 10, extended side glazing, and a lower deck with two cabins. Its LOA is 16.44 meters with MAN engine options up to 850 hp.The Riva Aquariva Special updates the long-standing Aquariva line with new navigation lights, redesigned windscreen, and expanded swim platform while maintaining analogue helm instrumentation. It measures 10.07 meters and reaches 41.5 knots.The Riva Cento, marking the 100th Rivamare, introduces new color options, integrated stern handrail, and a convertible interior dinette. With an LOA of 11.88 meters, it is powered by twin Volvo Penta engines.The Riva 58’ Capri is an evolution of the 56’ Rivale with three cabins, a fixed hardtop, and garage options for tenders and water toys. Its length is 17.27 meters with speeds up to 37 knots.The Riva 112’ Dolcevita Super, at 34.37 meters, features fold-out terraces in the stern, redesigned flybridge, and two interior layout options. Twin MTU engines deliver speeds of up to 25.5 knots.Also on display are the Ferretti Yachts 940, a 28.97-meter widebody yacht with five cabins and floor-to-ceiling glazing, and the Pershing GTX70, a 21.76-meter model with expanded exterior areas and a sundeck split into three zones.Ferretti Group’s presence at the show will be accompanied by a range of luxury partners including Range Rover, Flexjet, Dolce & Gabbana, Frette, Venini, and Lavazza, among others.Credits: Ferretti Group
September 5, 2025
Sanlorenzo S.p.A. announced consolidated financial results for the first half of 2025, reporting €454.1 million in net revenues from new yacht sales, representing a 9.4% increase compared to H1 2024. EBITDA reached €80.5 million, an 8.5% year-over-year increase. The company maintained a robust order backlog of €1.44 billion, with 93% of orders already sold to final clients.Chairman and CEO Massimo Perotti stated: "The first half of 2025 reflects the resilience of Sanlorenzo, the strength of our brand, and the timeless desirability of our yachts. Even in a global environment marked by trade tariff uncertainty and broader macroeconomic pressures, we have delivered stability and measured growth."Order intake increased 29.9% to €419.5 million, driven particularly by strong demand for yachts exceeding 30 meters. The net backlog stood at €985.2 million as of June 30, 2025, providing approximately one year of revenue visibility.Regional performance showed Europe accounting for 58.8% of revenues (€267.1 million, +15.4% YoY), Americas contributing 21% (€95.3 million, +38.6% YoY), APAC at 12% (€54.4 million, +5.8% YoY), and MEA representing 8.2% (€37.3 million, -41.3% YoY).Division performance varied: Superyacht Division revenues increased 10.2% to €137.1 million, while Yacht Division declined 6.6% to €225.8 million primarily due to market conditions below 30 meters. Bluegame Division decreased 10.9% to €43.6 million, and Nautor Swan Division contributed €47.5 million since its 2024 acquisition.The company reported net profit of €46.6 million, a 7.0% increase from H1 2024. Net working capital remained positive at €86.6 million, though inventories increased to €186.7 million due to production ramp-up and distribution hub expansion.Sanlorenzo confirmed its 2025 financial guidance, citing strong product pipeline including three new yacht debuts at the Cannes Yachting Festival and the upcoming delivery of the 74Steel model. The company continues to focus on yachts under 2,000 GT where it believes the risk-return profile remains most favorable.Sustainability initiatives progress includes development of bi-fuel green methanol propulsion technology, though the launch timeline for the 50 X-Space project has been adjusted to align with expected infrastructure availability toward the end of the decade.The company maintains its net financial position with €8.3 million net debt as of June 30, 2025, following dividend payments of €34.7 million and €11.1 million share buyback program execution during the period.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: Sanlorenzo
September 5, 2025
Italian marine manufacturers Castoldi and Nauta have developed the Jet Tender 34 Limo, marking Castoldi's first entry into the limousine tender segment. The 10.4-meter vessel will serve as ship-to-shore transportation for a new boutique cruise ship fleet under construction in Italy, with four limousine tenders and two support vessels ordered per vessel.Giacomo Castoldi, CEO of Castoldi, stated: "This project represents a new chapter for Castoldi that expands our offerings to new markets, while maintaining the commitment to innovation, quality, and luxury we are known for." The collaboration utilizes Castoldi's waterjet propulsion technology and semi-serial production capabilities combined with Nauta's design approach.Nauta Director Guido Valtorta noted: "Typically, limousine tenders are custom-made for large yachts, but this project allowed us to merge bespoke luxury with the efficiency of semi-serial production." The design incorporates multiple boarding points, configurable seating arrangements, and ceiling lighting systems aimed at creating spacious interior environments.Technical features include Castoldi's ACES electronic control system and waterjet propulsion designed for commercial vessel applications. The tender achieves cabin cooling within 15 minutes and incorporates noise-reduction systems within rub rails. The platform allows for Open Limo and Support Vessel configurations through modular design principles.The first unit is scheduled for delivery in late 2025, with project presentation planned for the Monaco Yacht Show. The tender measures 10.4 meters in length with limousine-style enclosed cabin accommodation. Production follows semi-serial methods rather than custom one-off construction, representing a new operational approach for Castoldi in this vessel category.The partnership combines Castoldi's marine engineering capabilities with Nauta's yacht design experience, targeting the growing market for luxury tender operations in cruise ship and superyacht sectors. The design emphasizes functional elements including pantry facilities and toilet accommodations within the compact hull form.Credits: Nauta
September 4, 2025
Extra Yachts has launched the X145 Global, a 44-meter explorer yacht designed for long-distance cruising. The steel-hulled vessel features an aluminum superstructure designed by Agon Studio, with interior spaces by Hot Lab.The yacht offers 4,000 nautical mile range with five deck levels and 9.1-meter beam while maintaining under 500 GT volume. The layout places all five guest cabins on the main deck utilizing maximum beam width, with an owner's private terrace on the bridge deck. Crew accommodations include four double cabins with ensuite bathrooms on the lower deck.Technical specifications include dual-mode hull design balancing performance and fuel efficiency. Storage capacity includes an 8.5-meter tender, rescue boat, two jet skis, and additional water toys in the aft garage. The beach club area provides 80 square meters of space with fold-down platforms and day facilities.Interior design incorporates large glazed surfaces, oriental-inspired details, and open-plan layouts emphasizing spatial perception. The upper deck features 360-degree viewing lounge with separated dining and seating areas connected by a central staircase.The X145 Global represents Extra Yachts' expansion into the explorer yacht segment, combining extended range capabilities with contemporary interior aesthetics. The design prioritizes crew operational areas with dedicated mess and laundry facilities alongside professional galley space.The yacht's configuration focuses on long-term autonomous operation with reduced fuel consumption parameters compared to traditional motor yachts of similar dimensions. The explorer market continues to show growth as owners seek vessels capable of extended itineraries with self-sufficient capabilities. Extra Yachts continues production at its Italian facilities, with the X145 Global positioning the brand in the 40-45 meter explorer segment. The company's product range includes both fiberglass and metal-hulled yachts with varying mission profiles from coastal cruising to global expedition capabilities.Extra Yachts specializes in the development of yachts with a strong personality. Its distinctive lines are combined in a variety of motor yacht models ranging from 76' to 130' and a 30-meter motor catamaran. Developed thanks to the advanced technical experience of ISA Yachts, Extra offers customers all the advantages of being part of the Palumbo Superyachts network.Credits: Extra Yachts
September 4, 2025