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.
Cantiere delle Marche's dedication to crafting exceptional vessels reaches new heights with the sale of the Flexplorer 165 to a distinguished European yachtsman. Representing the shipyard's largest explorer yacht to date, this milestone sale underscores Cantiere delle Marche's unwavering commitment to excellence.Vasco Buonpensiere, co-founder and CEO of Cantiere delle Marche, expresses pride in the achievement: "The sale of the Flexplorer 165 marks a significant moment for our shipyard. In an industry marked by fluctuating tides, our steadfast dedication to quality and precision has yielded remarkable results." Buonpensiere emphasizes the shipyard's resilience in navigating market challenges, attributing the success to the enduring reputation of their explorer yachts.Ennio Cecchini, co-founder and President of Cantiere delle Marche, highlights the distinctive qualities of the Flexplorer 165, noting its striking design and embodiment of the shipyard's core values.The Flexplorer 165, boasting a length of nearly 49.90 meters and a beam of 9 meters, showcases the renowned exterior design by Sergio Cutolo/Hydro Tec. Collaborating with Hus studio for the interior, the yacht promises timeless elegance and unparalleled comfort.Equipped with an impressive A-frame crane capable of lifting over 4.5 tons, the Flexplorer 165 offers exceptional handling of tenders and water toys. Powered by twin Caterpillar C32 Acert engines, each generating 970kW, the yacht ensures reliability and efficiency on every voyage.The decision to offer the Flexplorer 165 on the charter market reflects the owner's confidence in its ocean-going capabilities, long-range endurance, and unmatched comfort. CdM's story begins in 2010. The facilities cover an overall surface of 16˙000 square meters, including 7˙000 sq. m of workshops and 1˙000 sq. m of docks. Since 2015, the shipyard has been the world’s leading builder of explorer yachts. Based in Ancona, Cantiere delle Marche builds yachts from 26m to 43m in length.Credits: CdM
April 19, 2024
Sacs Tecnorib makes a return to the Palma International Boat Show, marking the commencement of the boating season in the Mediterranean. The event, celebrating its 40th anniversary, serves as a platform for showcasing the latest innovations and trends in the maritime industry, drawing over 32,000 visitors, hosting nearly 300 exhibitors, and featuring more than 250 boats on the water.Pirelli 42At the M-30 Pontoon P2 stand, hosted by official distributor Swiss Yachting, SACS Tecnorib will proudly display its renowned Pirelli Speedboats range. Among the highlights are the Pirelli 30, 35, and 42 models, renowned for their exceptional performance and sleek design. These walkaround vessels offer a perfect blend of style and functionality, catering to discerning boating enthusiasts.Pirelli 35The Pirelli 30, serving as the entry-level model, sets the stage for the walkaround range with its compact yet powerful build. Meanwhile, the Pirelli 35 impresses with its rugged 11-meter frame, boasting meticulous attention to onboard accessories. Completing the lineup is the Pirelli 42, the flagship model renowned for its versatility and unmatched performance on the water.Pirelli 47Adding to the allure are the Rebel 47 and Strider 13, exhibited by dealer Helimotor. Designed by Christian Grande, the Rebel 47 embodies luxury day-cruising with its modern design and elegant exterior layout. On the other hand, the Strider 13, also envisioned by Grande, stands out for its exclusive lines, safety features, build quality, and versatility, catering to owners seeking both performance and spacious comfort.Strider 13Each vessel showcased at the Palma International Boat Show epitomizes SACS Tecnorib's commitment to excellence, combining cutting-edge design with uncompromising performance to deliver an unparalleled boating experience.Sacs Tecnorib Spa was established in 2021 from the union between TecnoRib srl and Sacs srl. Credits: Sacs Tecnorib Spa
April 19, 2024
The Italian Sea Group (TISG) commemorates the keel laying of the Admiral 70m C.615 mega yacht, the esteemed model of the Admiral fleet and the group's six hundred and fifteenth yacht.The keel laying ceremony signifies a significant milestone in TISG's developmental journey, reaffirming its stature as a prominent global player in the large yacht domain and showcasing the group's commercial expansion.Giovanni Costantino, Founder & CEO of The Italian Sea Group, shared his sentiments on this maritime tradition, remarking, "When building a yacht, the keel-laying ceremony is a moment of profound emotion for both the shipyard and the owner."The Admiral 70m mega yacht, crafted entirely by the Centro Stile of The Italian Sea Group, boasts elegant exteriors characterized by graceful lines, expansive deck spaces, and generous glass windows. Internally, the vessel offers accommodations with 7 VIP and "Guest" cabins, along with 10 cabins for the crew.This yacht exemplifies the culmination of engineering prowess, design innovation, and the hallmark quality associated with the Admiral brand. It prioritizes absolute onboard comfort while championing environmental sustainability, with minimal emissions in both water and atmosphere.The delivery of the mega yacht Admiral 70m is slated for 2026.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. Credits: The Italian Sea Group
April 19, 2024
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