Following the fall of the Soviet Union in 1991, some Russians were able to amass vast fortunes putting them amongst the richest men in the world. According to Forbes, Russia currently has 77 billionaires despite the country's current economic crisis.
In the past two decades, these oligarchs have been instrumental to the development of the yachting industry, setting a new benchmark as to what could be considered to be a megayacht.
In 1990, the world of megayachts was mainly dominated by Middle Eastern Royal families and Greek magnates such as Stavros Niarchos (commissioned the Atlantis and Atlantis II). The 147m Prince Abdulaziz, owned by the Saudi Royal family, was at the time the largest superyacht in the world.
In the late 1990s and early 2000s, the landscape of the megayacht industry however started to change with a new influx of owners from Russia and the US tech scene. From 1992 to 2005, 20 superyachts over 80 meters in length were delivered, surpassing the 19 megayachts delivered from 1865 to 1992.
These new megayachts famously included Paul Allen's Octopus, David Geffen's Rising Sun, Berezovsky's Radiant but also the yachts that came to be known in the field as Abramovich's Navy consisting of Sussurro, Ecstasea, Le Grand Bleu, Luna, Pelorus and later Eclipse.
As the financial crisis hit the sector in 2008, the small and middle-size yachting market was severely hit but while many thought the megayacht industry would collapse, it continued its exponential growth. Between 2008 and 2016, a further 48 megayachts have been built, doubling the previous decades' amount of yachts over 80m delivered.
Not only were there suddenly more megayachts but their size also grew with the 162.5m Eclipse being delivered in 2010 for Mr. Abramovich. This growth in uncertain times was once again, in most part, brought by an expanding class of Russian oligarchs.
Serene, first yacht built by Ficantieri was ordered by Yuri Sheffler before being sold in 2015 to a Middle Eastern buyer. M/Y A was famously commissioned by Andrei Melnichenko and delivered in 2008, same year as Lurssen delivered the first 110m Dilbar to Mr Usmanov.
As many began to think that this segment would finally collapse with a weak recovery followed by recession in Russia, demand did not go away. In 2014, 104m Quantum Blue was delivered to Sergey Galitskiy and 140m Ocean Victory to Viktor Rashnikov.
In the summer of 2016, a new Dilbar, which is now speculated to be the largest yacht by gross tonnage, was delivered to Mr Usmanov. As for Abramovich's Navy, it has now been split up with Eugene Schvidler now owning Le Grand Bleu, Farkhad Akhmedov buying Luna whilst Pelorus and Ecstasea were both sold to Middle Eastern buyers.
Whether this growth of the megayacht sector will continue is questionable due to renewed turmoil in Russia's economy. Melnichenko's newest 142m S/Y A project however does seem to be a good indicator that there may be one day a 200m yacht.
Here below are some of the most advanced and industry-leading yachts that were commissioned by Russian oligarchs over the past two decades.
162.5m Eclipse - Roman Abramovich
Photo by Julien Hubert
The 162.5m yacht was built by by German shipyard Blohm & Voss in 2010 and held the title of the world's largest private yacht until 2013, when the 180 metre Azzam stole the crown. Although not all the details of the megayacht are unveiled, it is known that her interiors feature designs by the renowned London-based team at Terence Disdale Design. It is speculated that Eclipse boasts a military-grade missile defense system, armor plating and bulletproof windows, while hosting three helipads, a private theater and a fitness center.
156m Dilbar - Alisher Usmanov
Photo by @superyachts_gibraltar
World's largest yacht by a volume, the 156m Dilbar was delivered to Alisher Usmanov in May 2016. Confidentiality is upheld to the highest degree at Lurssen, which celebrated its 140th anniversary in 2015, but it is understood that Dilbar's exterior design comes from Espen Oeino with interiors by Andrew Winch. It is also know the yacht has a steel hull and aluminium superstructure. The Russian oligarch has another Lurssen superyacht, 110m Ona, that was previously named Dilbar as well.
140m Ocean Victory - Viktor Rashnikov
Delivered by Fincantieri in 2014, Ocean Victory is designed by Espen Oeino with interior spaces created by the late Alberto Pinto together with Sessa Romboli. Owned by Viktor Rashnikov, the vessel accommodates up to 36 guests. As with many other yachts of this size, she is packed with alluring features such as 6 pools spread out over her 7 decks, an internal floodable dock to house her 14m tender,two helipads and a vast spa area.
119m A - Andrey Melnichenko
M/Y A, owned by Andrey Melnichenko is reportedly now for sale. A was built by Blohm+Voss in 2008. Designed by Philippe Starck, the vessel remains the most talked-about yacht on the seas. She is capable of accommodating 14 guests in 7 luxurious cabins, as well as a crew of 42. Mr Melnichenko's second yacht, the 142.8m S/Y A, is being built at the Nobiskrug shipyard in Germany. According to the Daily Mail, the new project will cost close to 450 million dollars.
99m Madame Gu - Andrei Skoch
According to Forbes Russia, the 99m superyacht belongs to Andrei Skoch. Madame Gu was built by Feadship in 2013 and delivered after four years of construction. Andrew Winch styled her exterior, whilst De Voogt was responsible for the naval architecture. With perfect proportions, it's hard to imagine that her tonnage exceeds 2,900 GRT. The interior, also designed by Andrew Winch, accommodates twelve guests in six cabins. The crew quarters are composed of 18 cabins for 36 members. This twin screw superyacht is powered by quadruple 3,600kW MTU engines providing a top speed of 24 knots and a cruising speed of 22 knots.
95.15m Palladium - Mikhail Prokhorov
With an original design by Michael Leach, Palladium, formerly Project Orca, is thought to be owned by Mikhail Prokhorov. Palladium is a 95.15m (312.17 ft) luxury motor yacht, built by Blohm + Voss in 2010. With a beam of 16.00m and a draft of 4.40m, she has a steel hull and aluminium superstructure.
88.5m Nirvana - Vladimir Potanin
Built by Oceanco in 2012, Nirvana was the star of the Monaco Yacht Show the following year busting an aquarium aft and a set of revolutionary features. Owned by Vladimir Potanin, the yacht features a jungle-themed interior design. Nirvana also hosts two spa pools and extensive lounging accommodations. Designed by Sam Sorgiovanni, the yacht has a transpacific range and a maximum speed of 19.5 knots. Nirvana was previously listed for sale asking 199 million euros but was supposedly taken off the market without any sale occurring.
Heesen Yachts announced the delivery of YN 20555, the 55-meter steel yacht named Serena, marking the first delivery of 2025. Managed by Arcon Yachts Monaco, Serena exemplifies the fruitful collaboration between the two companies, blending precision engineering with bespoke design.Rick van de Wetering, Chief Operations Officer at Heesen Yachts, expressed delight with the delivery, stating, "We are pleased with the first yacht of 2025, a successful project with Arcon Yachts Monaco. Their expertise ensured a smooth process from start to finish. Serena stands out as a unique blend of superyacht excellence and personal customization, built on a proven platform for reliability."Construction of Serena began in spring 2022, with the experienced owners playing an active role from the outset, working closely with Heesen engineers and the design team led by Luca Dini. The objective was to create a homely and relaxing interior, suitable for extended stays on board. Careful attention was given to seating arrangements and material selections, ensuring that every area promotes relaxation.Serena is equipped with a steel ultra-efficient, fast displacement hull form (FDHF), providing a transatlantic range of 4,500 nautical miles at 13 knots and a top speed of 15.5 knots, thanks to two MTU 8V 4000 M63 engines (IMO Tier III). Designed by Omega Architects, the exterior complements the interior vision of Luca Dini, offering accommodation for 12 guests across five staterooms.Richard Kaye of Arcon Yachts Monaco noted, "We have refined the yacht with the owner, enhancing an already superb design. By incorporating windows into the beach club to create a serene sauna and relaxation zone, and making subtle changes throughout, we have tailored it to the owner's wishes. The result is a stylish and practical design that everyone should admire."The yacht's interior spaces include a main saloon divided into three areas, with a fully-equipped bar ensuring a seamless transition between indoors and outdoors. The Sky Lounge acts as the social hub, featuring a custom games table and comfortable seating for entertainment. The beach club, lit naturally by glass portholes, is styled as a waterside retreat, while the sauna, adorned with elegant wood finishes, adds to the yacht's charm. The 110-square-meter sun deck provides versatile furniture arrangements and a forward seating area to enjoy the views.The owner’s quarters on the main deck include a lounge, office space, and a luxurious full-beam cabin with a private veranda. The lower deck features four guest staterooms with unique marble details in their en-suite bathrooms. Serena also boasts a gym on the bridge deck, which can be easily retrofitted into an additional cabin if desired.Bob van Zundert, shipyard captain, praised Serena’s handling, saying, "She handles impressively considering her size—760 GT of internal volume. Yet, she responds well to commands and offers comfort and stability akin to an aluminum vessel, with the maneuverability of her aluminum counterparts. Our 55m series instills confidence and reassurance in captains navigating the seas."Serena sets the tone for an exciting lineup of yachts to be delivered in 2025, heralding a remarkable year in the luxury yachting industry.Credits: Heesen Yachts
March 27, 2025
The Monaco Yacht Show is solidifying its position as a platform for industry progress by launching Blue Wake, a new initiative aimed at enhancing the visibility of environmentally sustainable solutions across the event. Beginning with the 2025 edition, MYS will integrate innovations with stronger eco-responsibility, reflecting the industry's commitment to a more sustainable future.Building on the success of the Sustainability Hub, introduced in 2022, MYS recognizes the growing importance of sustainability as a core industry focus. The launch of Blue Wake represents a natural evolution of MYS's ongoing commitment to promoting sustainability in yachting.Blue Wake will spotlight companies whose solutions meet rigorous environmental sustainability criteria. Approved exhibitors will receive prominent visibility throughout the show, enabling engagement with key stakeholders, including yacht owners, builders, investors, and industry leaders. As with the Sustainability Hub, the Water Revolution Foundation will continue to support MYS in identifying impactful solutions that contribute to genuine progress in the industry.Gaëlle Tallarida, Managing Director of the Monaco Yacht Show, notes, "Sustainability has become an essential driver of innovation in yachting, and our role at MYS is to provide a platform where these advancements can gain the recognition they deserve. With Blue Wake, we are reinforcing this commitment by ensuring that sustainability is an integral part of the event experience, engaging all stakeholders in meaningful discussions about the future of our industry."Robert van Tol, Executive Director of the Water Revolution Foundation, emphasizes, "This initiative is about more than visibility—it’s about credibility. Through a rigorous vetting process, we are ensuring that the solutions presented under Blue Wake genuinely contribute to making the yachting industry more sustainable. It's an opportunity for companies to demonstrate their commitment and for the industry to continue its progress toward a more responsible future."While specific exhibitors and solutions for the Blue Wake programme have yet to be confirmed for the 2025 edition, MYS encourages industry followers to stay tuned for updates as the event approaches.Credit: The Monaco Yacht Show
March 27, 2025
Apreamare will be among the exhibitors at the 2025 Croatia Nautic Show, taking place from April 3rd to 6th at Marina Kaštela. The Italian shipyard will showcase its Gozzo 38 Cabin alongside the new dealer, Alberta Yachts, in a move to strengthen its presence in the region.The Croatian boat show is a significant platform for Apreamare, given the country's longstanding appreciation for the iconic Gozzo line. In addition to Croatian clientele, the enchanting Adriatic coast draws northern European owners, particularly from Germany, Austria, France, and Italy. Partnering with Alberta Yachts, the new dealer for Croatia, Slovenia, Bosnia Herzegovina, Serbia, and southern Germany, Apreamare is poised to solidify its brand in this important market.The Gozzo 38 Cabin represents a significant evolution of the open Gozzo 35, introducing new design elements to enhance comfort and habitation. The expanded internal volumes, facilitated by the deckhouse, address the needs of owners seeking greater protection and improved comfort, enabling year-round navigation in various weather conditions. The generously sized beach platform, now extending the boat's total length to 11.45 meters, underscores its seaworthiness.The connection between interior and exterior spaces is seamless, with a 4-panel glass door linking the large cockpit to the spacious internal dinette. The lounge includes a helm station, a functional kitchen, and an L-shaped seat, ensuring comfort at any time of day. The exterior spaces are designed for optimal livability, featuring a generous stern platform, a large cockpit with a retractable/convertible table, an L-shaped sofa for six people, and a large sundeck at the bow, accessible via two large, flush side-walkways.Below deck, the careful optimization of space results in a layout with two cabins and a bathroom, boasting an internal height of two meters. The guest cabin, located amidships, is notably wider than average in its size class, featuring a 140-centimeter-wide bed at the head. Regarding propulsion, options include twin Volvo Penta D4-270 DPI or D4-320 DPI sterndrives, or the traditional Volvo Penta D4-320 shaft configuration, ensuring efficient and versatile navigation, always comfortable and safe, even in rough seas.Through its participation in the Croatia Nautic Show and partnership with Alberta Yachts, Apreamare aims to showcase its commitment to innovation, quality, and adaptability, resonating with the preferences of the discerning regional audience.Credits: Apreamare
March 27, 2025
Camper & Nicholsons announced the successful sale of the 28-meter Ferretti L'Opera, with Gaston Lees-Buckley representing the seller.Launched and delivered in July 2019, L'Opera is the tenth hull of the successful Ferretti 920 series, built for a long-standing client and experienced yachtsman under the guidance of Camper & Nicholsons.Camper & Nicholsons extends its congratulations to all parties involved in the transaction and wishes the new owner countless hours of enjoyment and unforgettable experiences on board.Credits: Camper & Nicholsons
March 26, 2025
Azimut Yachts has once again solidified its status as the most desirable brand among high-net-worth individuals (HNWI) in China, earning recognition as the "Best Innovative Yacht Brand." The groundbreaking Seadeck 7 was also honored with the "Luxury Hybrid Yacht Best New Arrival" award. These accolades were announced during the prestigious Best of the Best Awards 2025, organized by the esteemed Hurun Research Institute, reflecting the results of the Hurun Chinese Luxury Consumer Survey.Azimut Seadeck 7 Hybrid ProjectEach year, the Hurun Research Institute conducts extensive research analyzing the preferences of HNWIs in China via a survey involving 750 participants. These individuals possess an average wealth of 47.5 million CNY (approximately 6.5 million USD), with an investable wealth of 12 million CNY (about 1.6 million USD). Among these respondents, 32 are classified as ultra-high-net-worth individuals (UHNWIs), boasting assets exceeding 100 million CNY (14 million USD).From left to right: Mr. Rupert Hoogewerf, the founder of Hurun Report; Sharon Xu, business development manager of Azimut Asia Pacific; Mr. Xu, Founder of Private Equity ( Hurun’s VIP guest).During the award ceremony in Shanghai, Azimut Yachts received the coveted "Best Innovative Yacht Brand" title, celebrating the company's relentless pursuit of cutting-edge solutions aimed at enhancing the ownership experience. Additionally, the Seadeck 7 garnered the "Luxury Hybrid Yacht Best New Arrival" award, highlighting its transformative impact on the market. As the first production yacht integrating a hybrid-electric system powered by Volvo Penta IPS propulsion, the Seadeck 7 reduces CO₂ emissions by up to 40% annually, presenting a viable option for eco-conscious owners without compromising comfort or performance.These dual achievements affirm Azimut's standing as a trailblazer in the luxury yachting industry and reinforce its prominent position in China, where it has delivered approximately 200 vessels to local clients since 2006. This recognition underscores the brand's ability to anticipate market demands while advancing towards a more sustainable and innovative future.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
March 26, 2025