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.
Damen Yachting has confirmed the sale of the third hull of Amels 80. This Amels 80, with exterior design by Espen Oeino, will be customized with a number of spectacular unique features. The owner has appointed a well-known design team for the custom interiors and all details remain confidential.The latest 80-meter Amels Limited Editions design to be built under the name Project Zurich and is scheduled for delivery to her new owner in 2026. "It is almost a year to the date since we introduced the Amels 80. The fact that we have seen not only positive reactions to the design since the launch but also a strong sales foothold within the first 12 months are a true testament to her modern design and trusted build pedigree. I am very much looking forward to embarking on the build journey with this experienced client," says Jan van Hogerwou, Commercial Executive of Damen Yachting, who worked with the client throughout the sales process.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
March 31, 2023
Royal Huisman has shared the new images of the sailing yacht Sea Eagle II, which was launched in 2020. With over 45,000 nm under her keel, the 81m earned her place alongside the shipyard’s Athena in the elite club of the world’s 10 largest sailing yachts. Sea Eagle II was designed by Dykstra Naval Architects and Mark Whiteley Design. Her very long waterline and powerful Panamax rig ensure effortless, mile-eating performance. On her sail trials, she comfortably recorded 21.5 knots in a moderate breeze. Despite her massive sail area (2,580 sqm; 3552 sqm), all three mainsails can easily be hoisted at once – taking no more time than required for a sloop of half this size. The efficiency of this sail management system understates the technical challenges behind it, and a result of cooperation of an ‘A Team’ of Dykstra, Rondal, Carbo-Link and Doyle Sails. The inspiration behind Sea Eagle II was her visionary owner, who began to formulate his ideas while circumnavigating his first yacht, the 43m Sea Eagle I, also built by Royal Huisman (and now exploring the world again as Ravenger, under new ownership). The brief for Sea Eagle II was to create an extremely comfortable and spacious yacht with good sea keeping and exceptional amenities for both guests and crew. She had to offer outstanding passage-making performance so that the owner could take in as much of the world under sail as possible. She had to be a true sailor’s yacht – practical, powerful, safe and easily managed. Finally, she had to be functional, favoring simplicity and reliability over unnecessary frills.“Continual innovation, accumulated expertise and rigorous self-challenge have come together through our highly skilled and dedicated team to produce Athena, Sea Eagle II and, currently in-build, the world’s largest sloop, the 85 m New World Sloop aka Project 410. Other breath-taking concepts, APEX 850 and WING100, are also generating considerable interest worldwide. Each example just awaits a visionary individual who will desire the opportunity to transform a revolutionary, true sailing yacht into reality. The next Royal Huisman supersized sailing yacht would be welcomed into the ranks of the world’s top 10. She will join the existing Royal Huisman-built, thoroughbred ‘supersized sailing yachts’, and – with our continuous increase of expertise – she would be our finest yet,” says Jan Timmerman, Royal Huisman’s CEO. Royal Huisman is a Dutch shipyard established in 1884 in Ronduite, building and refitting custom luxury sailing and motor yachts at its shipyard in Vollenhove, the Netherlands.Credits: Tim McKenna/Royal Huisman
March 31, 2023
Northrop & Johnson has announced the appointment of Rebecca Cutter as Charter Manager. Rebecca, originally from England, brings over two decades of experience in the yachting industry to her new role. Rebecca will be based out of Northrop & Johnson’s Antibes office.Rebecca CutterRebecca stumbled upon the yachting industry in 1996 while living in Antibes, France. She is now responsible for managing and promoting the booking calendars for the Northrop & Johnson European Charter Fleet. Her primary responsibilities include liaising with fleet owners, captains, and retail charter brokers to provide exceptional yachting experiences to both new and existing clients.Northrop & Johnson’s Antibes officeRebecca spent 22 years with Bluewater, learning everything she knows about the industry, and is excited to embark on a new challenge with Northrop & Johnson's European team. Credits: Northrop & Johnson
March 31, 2023
The Italian Sea Group has delivered the first Tecnomar for Lamborghini 63 in Sydney, Australia. The yacht, the first one finished in Acheso Gray, with its unmistakable super sporty silhouette, reached Port Jackson, one of the most renowned attractions in the city and located in the heart of Sydney Bay.The debut of this innovative motor yacht in the Australian continent, is an important milestone for the Group, in line with its business expansion plan in the Asia Pacific, agreed upon and supported by Automobili Lamborghini. TISG's strategy continues along with the growth of the Australian market, which, according to the Guardian, will reach 8% of the global yacht market within the next three years."We are very proud of the success Tecnomar for Lamborghini 63 is having in the Pacific, an area that offers interesting growth opportunities for all the Group's brands, in line with our international development strategy," comments Giovanni Costantino, Founder & CEO of The Italian Sea Group. "The commercial success of this project and partnership with Automobili Lamborghini goes on, and the next sales will be delivered in the second half of 2024."Further deliveries of the Tecnomar For Lamborghini motor yacht are also planned in the Australian continent in 2023 and 2024.The Italian Sea Group’s Tecnomar brand produces and commercializes yachts in steel and aluminum up to 50 meters. Founded in 1987 and acquired by the Italian Sea Group in 2009, Tecnomar has launched 289 yachts through the years, also thanks to the Tecnomar Evo line, which has earned a great success in the Asian market. Credits: The Italian Sea Group
March 31, 2023
In the beginning of March Lürssen technically launched the 144-meter Project Cosmos in a construction site in Rendsburg. The construction started in 2020, making the 114-meter vessel one of the largest yachts currently in development. The megayacht features exterior and interior design by Australian designer Marc Newson. She spreads across four decks and has a large aft deck, a swimming pool, an observation lounge and helipad. She will be the first Lürssen yacht to feature fuel cell technology on board. Project Cosmos is scheduled for delivery in 2025.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: Video by OneHouseMedia/Lürssen YouTube
March 30, 2023