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.
London-based LP Design UK has unveiled Project Iceberg, a robust and striking explorer yacht inspired by the resilience of ocean-going work vessels. Measuring 67 meters, this sturdy vessel defies conventional superyacht norms, focusing on capability rather than extravagance.With a displacement of 1,900 gross tons, Project Iceberg boasts a "Luxury Lite" approach, emphasizing functionality over opulence. This philosophy allows for a highly efficient build process, leveraging commercial shipyards for construction and yacht specialists for luxurious yet practical interiors. Budget-conscious optimization doesn't compromise on safety, ensuring that the yacht is well-equipped for extended expeditions.Designed for durability, Project Iceberg incorporates robust systems, practical layouts, and purpose-driven features. The design reflects insights from seasoned captains and crews, integrating tried-and-tested solutions adapted for a yacht that balances functionality with form. Built to Lloyd’s +100A1 standards and engineered for 1D Ice Class certification, Project Iceberg is suited for polar passages and tropical anchorages alike.Powered by a hybrid diesel-electric system with Azipod propulsion, the yacht combines efficiency with versatility. These rotating pods allow for precise maneuverability, enabling station keeping without anchors – a vital feature for sensitive marine environments. Exposed technical elements like cranes and deck fittings celebrate the yacht's engineering prowess.Standout features include an orange stack housing a glazed atrium, which doubles as a visual centerpiece and grants access to various amenities. The sundeck hosts two temperature-controlled swimming pools, a bar, and expansive views. Forward, integrated settees provide safe seating amidst heavy seas, highlighting the yacht's emphasis on seaworthiness.With its thoughtful design and adventurer spirit, Project Iceberg redefines what it means to explore the world's oceans in style and substance.Credits: LP Design UK
March 19, 2025
Moran Yacht & Ship has announced the sale of a new 122.5-meter superyacht, Project Omega, which will be constructed by Lürssen. The vessel, with a gross tonnage of 5,200GT, is set for delivery in 2029 and marks Moran Yacht & Ship’s 25th new construction project in partnership with Lürssen.Designed by British studio RWD, both the interior and exterior of the yacht will feature a timeless design aesthetic. The vessel will accommodate up to 20 guests across 10 cabins, offering luxurious living spaces combined with state-of-the-art amenities. Key onboard features include a beach club, a fully-equipped dive center, and expansive outdoor areas designed for entertainment and relaxation.The project is particularly notable as it represents the second superyacht built for the same owner in collaboration with Moran Yacht & Ship. The brokerage is overseeing the entire construction process, including the development of technical specifications and contract negotiations.The construction of Project Omega is currently underway at the Lürssen shipyard, with work progressing under strict confidentiality to ensure the unique features of the vessel remain exclusive to its owner. The delivery is scheduled for 2029.Lürssen is a German shipyard with headquarters in Bremen-Vegesack and shipbuilding facilities in Lemwerder, Berne and Bremen-Aumund. Founded in 1875, Lürssen is one of the world's leading builders of custom luxury superyachts and has launched many of the largest yachts in the global fleet.Credits: Moran Yacht & Ship
March 19, 2025
The Italian Sea Group (TISG) has announced a new strategic partnership with Yachtzoo Japan, a leading yacht brokerage, charter, and consultancy firm in Japan. This collaboration significantly enhances TISG’s presence across the Asia-Pacific (APAC) region, where growing demand for luxury yachts and customized services offers prime opportunities for business expansion.Japan, with its expansive maritime territory – featuring over 14,000 islands, more than 100 marinas, and an impressive 35,000 kilometers of coastline – represents a high-potential market aligned with TISG’s “Strategic Outlook 2024-2025”. This visionary plan aims to foster global synergies through technological innovations, groundbreaking research, and sustainable practices.Yachtzoo Japan brings extensive market knowledge and expertise, ensuring TISG’s brands receive optimal representation in the country. Additionally, it will function as a dedicated ‘Service Point,’ overseeing after-sales support, operational management, and technical maintenance for TISG vessels. This comprehensive service model guarantees exceptional post-sale experiences tailored to meet the discerning standards of Japanese customers, renowned for their meticulous attention to precision and service quality.Gianmaria Costantino, Chief Commercial Officer of TISGThe forthcoming Japan International Boat Show 2025, scheduled for March 20–23 at the Yokohama Pacifico Convention Center & Yokohama Bayside Marina, marks TISG’s inaugural appearance in Japan in partnership with Yachtzoo Japan. Visitors will have the opportunity to explore the group’s diverse portfolio of luxury yachts, catering to the growing demand for fully customized superyachts.Gianmaria Costantino, Chief Commercial Officer of TISG, underscored the importance of entering the Japanese market: “This partnership with Yachtzoo Japan represents a pivotal milestone for The Italian Sea Group. Their deep understanding of the Japanese and Asian markets, combined with their premier network, positions us advantageously in this dynamic, high-growth sector.”Nigel Beatty of Yachtzoo Japan shared the enthusiasm, stating, “We are excited to serve as the exclusive partner for The Italian Sea Group brands in Japan, especially for the highly anticipated Tecnomar for Lamborghini 63, which has already generated significant interest following our recent promotional efforts.”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: The Italian Sea Group
March 19, 2025
Administrators of Fairline Yachts, the UK-based luxury boatbuilder, are reportedly reviewing multiple bids for the company, according to the Northamptonshire Telegraph. Entering administration in January 2025, just two months after being acquired by Arrowbolt Propulsion Systems Limited, Fairline Yachts employed approximately 250 staff across its two sites in Oundle and Suffolk.Joint administrators of Fairline Yachts Limited secured funding through its existing lender, DF Capital, enabling the continuity of employment for its workforce. Alvarez & Marsal Europe LLP, the joint administrators, are actively seeking a buyer to ensure the brand's future viability.Michael Magnay, joint administrator at Alvarez & Marsal, acknowledged Fairline Yachts as an iconic brand with a skilled team and strong relationships with dealers and customers. He suggested that the brand could attract interest from both international and domestic investors.Founded in 1967, Fairline Yachts offers four yacht ranges, ranging from 10 to 21 meters, sold globally through direct channels and local dealerships. Despite facing financial difficulties in the past, including administration in 2015 and labor shortages exacerbated by the COVID-19 pandemic, the company maintained a strong order book valued at £100 million in early 2024. However, its latest financial results showed a decline in turnover from £48.3 million in 2022 to £41.1 million in 2023, although forecasts predicted a rebound for 2024.Credits: Fairline Yachts
March 18, 2025
Codecasa Shipyards has launched of Pleiades, Codecasa Classic Yacht 110′, Hull F80, which took place on Thursday, March 13th, 2025, in Viareggio. The Codecasa Family extends sincere appreciation to all contributors who brought Pleiades to fruition, notably Engineer Federico Bennewitz and his skilled team. They warmly congratulate the owner, wishing them and their family countless cherished memories aboard their new yacht.Measuring 33.50 meters, this yacht exudes timeless elegance and classic lines, embodying the creative vision of designer Luca Dini. The hull, crafted by Names Studio's Francesco Rogantin in partnership with Codecasa Shipyards, guarantees exceptional performance.Inside, the yacht features a stylish saloon on the main deck, another saloon on the bridge deck, an owner's cabin, and four guest cabins. Two twin-bed crew cabins and a captain's cabin round out the accommodations. Both indoor and outdoor spaces are thoughtfully designed to foster enjoyable social interactions and relaxation.Powered by dual MAN V12 engines delivering 1550 hp each at 2300 rpm, this new Codecasa Yacht reaches a top speed of 21 knots and boasts a range exceeding 1200 nautical miles at a cruising speed of 12 knots. Codecasa shipyard was established in Viareggio in 1825 by the shipwright Giovanni Battista Codecasa. Still run by the founder’s heirs, nowadays the Codecasa Shipyards Group is able to offer a wide range of Yachts, featured by top quality, technologic innovation, reliability, design and comfort. The shipyard is known all over the world as builders of steel and light alloy motoryachts, ranging from 30 to 70 meters LOA.Credits: Codecasa
March 18, 2025