Earlier this week Chinese conglomerate, Lai Sun Group acquired 49.9% of Camper and Nicholsons International for €13 million in what became the latest deal in a series of yacht-related acquisitions led by Chinese beneficiaries.
The deal turned out to be a major financial success for Camper and Nicholsons' majority stakeholder, Colosseum Services, a Swiss luxury-goods company that had acquired the brokerage firm for a mere sum of €1 million following the liquidation of Rodriguez Group in 2014. It didn't however become the first time a struggling company in yachting was saved by Chinese behemoths.
In 2006, a time of unreal growth for the superyacht industry, Ferretti Group's production value increased to €770 million with a net profit of €25.3 million as the Italian company was preparing for its IPO. In 2007, Candover Investments led a leveraged buyout of Ferretti Group that put its value at €1.5 billion. The subprime crisis however hit the company hard in 2008 and forced it to restructure its €1.2 billion debt. In 2012, 75% of the company was sold to Chinese conglomerate, Weichai Group for €374 million.
Ferretti Group was however not the only company in yachting to be hit by the recession. After going through losses of £9 million in 2009, UK-based, Sunseeker restructured its debt and was taken over by FL Partners, an Irish private equity company. In 2013, it was however sold to the China-based, Wanda Group for around 300 million pounds.
Despite these companies being owned by Chinese groups, demand for yachts in Asia has remained low. Although a small increase in popularity can be seen in Southeast Asia with new cruising grounds such as Thailand opening up, different cultural habits and the lack of infrastructure have prevented superyachts from traveling to the area in masses.
There however very much remains a strong potential for yachting in China with over 1 million millionaires in the area according to the Hurun Wealth Report. Burgess Yachts, one of Camper and Nicholsons' competitors, has in fact reported the sale of the 60-meter Amels, Event to a client in Asia in November 2015. Royal Huisman, a Dutch-based shipyard, announced at the Monaco Yacht Show last week that it was building an 81-meter schooner destined for Asia, sold through Northrop & Johnson.
The Asian market is in fact so attractive that some shipyards have set up shop in the region. Kingship started building superyachts in Hong Kong as early as 2004 and are currently working on their flagship 144ft Grand Voyager asking $16,900,000. HeySea Yachts, based in Guangdon are building a 40-meter catamaran for the CEO of the China Cup.
Oyster Yachts has introduced its new 24-meter 805 sailing yacht, developed with Humphreys Yacht Design. The model features a twin-access swim platform, configurable interior layouts, and solar-powered hardtop.CEO Ashley Highfield confirmed first delivery for 2027. The yacht offers 3.4-meter or 2.7-meter keel options, with the latter complying with Mediterranean seagrass regulations.Former Rolls-Royce CEO Torsten Müller-Ötvös joins as strategic advisor, stating: "Oyster is very similar to what Rolls-Royce is all about with its relentless striving for perfection."The 805 includes four convertible guest cabins and Oyster's largest sub-30-meter owner's suite. Standard features include ultra-thin marble surfaces and 3kW solar generation.Oyster Yachts was founded in 1973 by Richard Matthews. For 52 years the British brand has created the world’s finest luxury bluewater sailboats.Credits: Oyster Yachts
May 30, 2025
The 2025 ICOMIA Congress, hosted by Spain's ANEN in Palma de Mallorca, concluded yesterday after five days of meetings and events. The gathering, held concurrently with IFBSO's annual congress, brought together marine industry representatives, including Italy's delegation led by Andrea Razeto of the Italian Marine Industry Association.Key discussions centered on three committees chaired by Stefano Pagani Isnardi: the Technical Committee addressed upcoming revisions to the European Recreational Craft Directive; the Superyacht Division examined IMO greenhouse gas reduction proposals and French anchorage restrictions; while the new Trade and Market Intelligence Committee analyzed global tariff developments. ICOMIA has launched dedicated online resources for Posidonia meadow protection updates and tariff tracking.Frank Hugelmeyer (NMMA) was elected ICOMIA President, succeeding Darren Vaux, with Finnboat's Jarkko Pajusalo as Vice President. The board expanded to include representatives from Spain, Turkey, Sweden, and Australia alongside existing members.The 2026 Congress is scheduled for May 24-28 in Washington, D.C., hosted by NMMA.Credits: The Italian Marine Industry Association; Eugene Zhyvchik/Unsplash
May 30, 2025
Cantieri di Pisa has commenced construction of a 40-meter full-custom yacht at its shipyard, marking the occasion with a traditional coin ceremony. The steel-hulled vessel, featuring an aluminum and composite superstructure, was sold several months ago and is scheduled for delivery in 2025.Designed by Antonio Luxardo, the four-deck yacht accommodates six guest cabins and six crew cabins – an unusual configuration for its size. The layout includes an owner's stateroom with private terrace on the main deck, four guest cabins and a VIP cabin on the lower deck, plus crew quarters on the bridge deck. Two saloons, multiple relaxation areas, and an aft Jacuzzi complete the amenities.The yacht's technical specifications include a sub-500 GT volume and propulsion by twin 1,550 HP MAN V12 engines, projected to deliver a 15-knot top speed and 2,000-nautical-mile range. A lateral-launch garage will accommodate a 6.6-meter tender and water toys.Engineering was developed by Studio Sa.Ma.Re Design with support from Luxardo and Optima Design. The construction utilizes vacuum-bonded composites to reduce weight and improve efficiency. The yacht will carry Bureau Veritas Charter class certification.The coin ceremony, attended by the French owner and shipyard representatives, follows maritime tradition dating to Roman times. Cantieri di Pisa's management emphasized the project combines the yard's signature design elements – including distinctive black and white air intakes – with customized owner requirements.The yacht's charter-focused configuration includes extensive storage, a full galley, and entertainment systems for global cruising. Construction is underway at Cantieri di Pisa's facility in Pisa, Italy.Cantieri di Pisa shipyard was founded in 1945 on the river Arno, the Tuscan shipyard became famous for its planing motoryachts, such as the Akhir and Kitalpha series designed by Pierluigi Spadolini. Since 2021 Enrico Gennasio is the new owner of Cantieri di Pisa.Credits: Cantieri di Pisa
May 30, 2025
Damen Yachting has completed the 26-month refit of the 79.2-meter superyacht Moonstone (ex-Albatross) at its Vlissingen facility. The vessel, originally built by Delta Marine, departed the yard following extensive modifications including a 7-meter extension and full exterior repaint.London-based Harrison Eidsgaard oversaw the comprehensive redesign, which transformed both interior and exterior spaces. Key modifications include a reconfigured sun deck with new bar area, a winter garden added to the bridge deck, and new leisure amenities including a hot tub on the owner's deck and swimming pool on main deck. The lower deck now features an expanded swim platform for water access."We are proud and pleased with the intensive and effective collaboration that led to this final result," said Damon Smallwood, representing the owners. "The Owners have a beautiful yacht to cruise around the world for years to come."The refit utilized Damen Yachting's dual Vlissingen yard facilities and specialized refit teams. Project Manager Daan Langezaal noted: "After months of work on this beautiful project, we proudly bid her farewell. The collaboration with the Owner's team ran like clockwork, and challenges were successfully overcome. A big thank you to everyone involved in this beautiful project."The vessel's summer itinerary remains private following its transformation. The project demonstrates Damen Yachting's large-scale refit capabilities, with Moonstone's modifications addressing both structural changes and interior layout revisions.Technical details of the mechanical and systems upgrades were not disclosed. The refit's duration reflects the scope of work undertaken, which included significant structural modifications alongside cosmetic and functional enhancements. Moonstone's departure marks the completion of one of Damen Yachting's most extensive recent refit projects.Damen Yachting, a division within the Damen Shipyards Group, was created in 2019. The division combines the pedigree and heritage of Amels yachts with a growing portfolio of SeaXplorer yachts and Yacht Support vessels.Credits: Damen Yachting
May 29, 2025
Azimut has appointed two new official dealers in the Asia-Pacific region: Europa Yachts in Indonesia and Short Marine in Australia. The partnerships expand the Italian yacht builder's regional network, which already covers China, Vietnam, the Philippines, Thailand, Taiwan, Hong Kong, Singapore, and Japan.The appointments follow Azimut's selective dealership model, which assigns one dedicated dealer per market to ensure localized expertise and client-focused service. The strategy aligns with growing demand in APAC, where rising wealth and evolving lifestyles are driving yacht ownership.Azimut Grande Trideck"With these new appointments, we are not only expanding our footprint but also enriching the strength of our network," said Enrico Chiaussa, Azimut Chief Commercial Officer EMEA-APAC. "Azimut now boasts the most comprehensive dealership presence in the Asia-Pacific region, and this milestone reflects our strategic vision of pairing world-class products with localized excellence."Europa Yachts, already established in the Philippines, will represent Azimut in Indonesia through a partnership with local entrepreneur Alvin Gozali. The collaboration combines Europa's operational experience with Gozali's market insights."We are honored and excited to bring Azimut Yachts back to Indonesia: by combining the Indonesian deep market knowledge and connections with Thomas's expertise and the strong foundation of Europa Yachts, we are confident this partnership will deliver exceptional results and elevate the yachting experience in the region," said Gozali.Short Marine, a Sydney-based dealer with over 40 years in the industry, will handle Azimut's Australian operations. The company's technical expertise and community ties aim to strengthen the brand's position in a market experiencing growth in high-net-worth individuals.Azimut Fly 62"We are thrilled to announce our new partnership with Short Marine, who will now be the point of contact for all the Azimut Yachts clients in Australia," said Murry Offord, Head of Asset Management at Balmain Asset Management. "This collaboration marks an exciting new chapter for Azimut in the region."The expansion follows Azimut's recent Asian Rendez-vous event in Tokyo, reinforcing its commitment to the APAC market. The brand continues to prioritize localized service networks to support its growing client base in the region.Azimut Yachts is an Azimut Benetti Group brand. With its Atlantis, Magellano Flybridge, S, Verve and Grande collections, Azimut offers the widest range of 10 to 40 meters.Credits: Azimut Yachts
May 29, 2025