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.
Cantieri di Pisa's CdP Custom Division has announced the sale of a 37.50-meter explorer yacht, featuring a steel hull and composite superstructure. Designed and engineered by Marcelo Penna, this vessel offers accommodation for six guests and four crew members, with interiors designed for comfort and ample light-filled outdoor spaces. Key features include a well-equipped galley, a hot tub, an owner’s terrace, a spacious beach club, a massage room, and two side terraces. Parallel to launching three new yacht lines, Cantieri di Pisa is advancing its CdP Custom Division. “This sale marks a significant milestone for our CdP Custom Division,” said Marco Massabò, CEO of the shipyard under the ownership of Enrico Gennasio. “We are pleased with the swift completion of this sale, thanks to the collaboration of our sales and engineering teams. The yacht is set to launch by summer 2026.”At 37.50 meters in length and 8.15 meters in beam, the explorer sold to a French owner features a steel hull and a composite superstructure crafted using advanced vacuum technology. This reduces tonnage and lowers the center of gravity, enhancing propulsion efficiency and reducing fuel consumption. It also has a spacious garage midships with a side-launching system for a 6.5-meter tender and wave runners. The well-appointed galley, pantries, fridge and freezer areas, and a high-capacity laundry ensure comfort for long cruises, supported by generous storage compartments on all four decks.Designed for cruising in various latitudes and suitable for chartering, the yacht is equipped with state-of-the-art entertainment systems. The owner’s suite on the main deck includes a private terrace, while a full-beam VIP cabin and four guest cabins are on the lower deck. The captain’s cabin, situated on the bridge deck, is adjacent to the wheelhouse. Additionally, a massage room on the upper deck can serve as an extra single cabin.Marcelo Penna, the project's designer, noted, “This explorer is tailored for an expert owner, offering sustainability through a hybrid battery pack and generators that power hotel services at anchor. This ensures compliance with stringent environmental regulations.”Powered by two 1,000 HP MAN V8 engines, the yacht achieves a top speed of 15 knots and a cruising speed of 14 knots, with a range of 2,600 nautical miles. The engines meet the highest environmental standards (IMO III Epa Tier IV), and the hybrid battery pack provides additional power and silent operation during nighttime anchorage.The yacht will carry Bureau Veritas Charter class certification. Yachts Invest represented the shipyard in the sale, while AB Yacht represented the owner. AB Yacht commented, “The buyer chose Cantieri di Pisa for their uncompromising quality. This modern hybrid vessel, suitable for chartering, will set a new benchmark in the motor yacht market.”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
July 26, 2024
Espen Øino, renowned for designing some of the world's most notable superyachts, has turned his attention to a smaller scale with Hodgdon's latest limousine tenders.The new limousine models, designed by Øino, measure between 9 and 11 meters and feature sleek, contemporary profiles. Both models share a streamlined hull design and can be configured with either a forward or aft helm. The helm's position affects the layout: a forward helm allows for a spacious aft deck, while an aft helm creates space in the bow for a plush lounge and a boarding ramp for beach access.The cabin boasts a retracting glass roof and large integrated windows, ensuring ample natural light and 360-degree views. The interior includes upholstered seating for up to eight passengers, with four additional seats in the bow lounge on one model and two captain’s chairs at the helm on both.In terms of propulsion, the tenders can be equipped with single or twin engines. Although Hodgdon has not disclosed specific details about propulsion options, speed, or range, the company’s existing lineup indicates robust performance. For instance, Hodgdon’s Mini Venetian Limousine, powered by a Volvo D3-220 diesel engine, can cruise 250 kilometers at 32.5 knots and reach a top speed of 35 knots.With these new limousine tenders, Espen Øino and Hodgdon combine luxury and performance in a sleek, modern package, offering a stylish and efficient option for superyacht owners seeking high-quality tenders for their maritime adventures.Hodgdon Yachts founded in Boothbay, Maine, in 1816, has a legacy of delivering over 440 vessels across two centuries. Known for high-quality, advanced composite construction, the family-owned company offers a variety of tenders, including limousine, beachlander, and open styles, along with fully custom runabouts tailored to specific owner requirements.Credits: Hodgdon Yachts
July 26, 2024
Heesen has unveiled Project Agnetha, a 55-meter steel class motor yacht with a profile designed by Frank Laupman of Omega Architects. The yacht's exterior features a modern, assertive design with horizontal lines that enhance its visual length, broad expanses of tinted glass on the main and upper decks, and a distinctive 'shark tooth' motif on the wheelhouse overhang. The design eliminates the need for fashion plates, resulting in a pillar-free superstructure aft, which enhances the yacht's indoor/outdoor flow and offers unobstructed sea views from nearly every vantage point on board, including the sky lounge.Mark Cavendish, Heesen CCO, comments: "The Heesen 55-meter Steel Class is constantly evolving, and Project Agnetha is the result. The beauty of buying this kind of superyacht is that the shipyard has taken care of all the technical aspects and has perfected the platform, incorporating in-depth feedback from our constant dialogue with brokers, owners, and captains. So when clients join the project, they can enjoy the fun part of building a superyacht, focusing on all those details that will make the yacht truly theirs."Project Agnetha accommodates twelve guests across six opulent staterooms, including a spacious owners' stateroom on the main deck forward, with separate his and hers dressing rooms and bathrooms, and a veranda on the starboard side, four guest cabins on the lower deck, and a VIP suite on the bridge deck. This layout makes the Heesen 55-meter class perfect for charters and clients who prefer multiple cabins.The interior, designed by Luca Dini Design and Architecture, focuses on creating a cosy and traditional atmosphere that radiates warmth and hospitality. Using a palette of warm tones, the design wraps guests in a feeling of comfort and familiarity, making Project Agnetha an ideal sanctuary for those who like to spend extended periods on their yachts.Niels Vaessen, CEO of Heesen Yachts, comments: "The Heesen 55-meter Steel Class represents the best example of intelligent superyacht construction. Over the past decade, we have focused on excellence and have achieved it, developing and refining the platform while optimising our supply chain and creating strategic collaborations with suppliers. This approach means we can deliver unparalleled benefits to our clients, including shortened delivery timelines, extensive personalisation, and – of course – Dutch craftsmanship of the highest standard."Vaessen elaborates, "Heesen has always been at the forefront of innovation in superyacht construction. We were pioneers in speculative build projects, beginning this transformative journey in the early 2000s with the highly successful 37-meter series and subsequently expanded the portfolio to include the 44, 47, and 50-meter yachts. Today, we are global leaders in the 50 to 57-meter segment. It's a testament to our bold and strategic commercial vision."Photo by Ruben GriffioenThe engineering of Project Agnetha is equally impressive, with an ultra-efficient Fast Displacement hull and two MTU8V4000 M63 (IMO Tier III) engines, enabling a top speed of 15.5 knots. The yacht is designed for safe navigation in all sea conditions, making it a quintessential go-anywhere blue-water motor yacht.Project Agnetha, where modern elegance meets superior performance, is available for delivery in Q2 2025.Heesen Yachts is a Dutch ship building company that specializes in custom-built superyachts in aluminum and steel from 30m to 70m in size. Founded in 1978, it has launched more than 170 yachts since its inception.Credits: Heesen Yachts
July 26, 2024
U-Boat Worx, a leading manufacturer of personal and commercial submarines, has announced a significant milestone for its Cruise Sub series, achieving 5,000 dives since its launch in 2019.The Cruise Sub series has become a prominent choice for underwater exploration, particularly within the cruise industry. With units delivered to private clients and ten units supplied to cruise operators, these submarines have established a reputation for safety, reliability, and performance.Since their introduction five years ago, U-Boat Worx’s Cruise Subs have been integral to the cruise industry, providing unique underwater experiences for passengers. The submarines’ capability to perform 5,000 dives underscores their durability and operational excellence.Roy Heijdra, Marketing Manager of U-Boat Worx, commented, "Reaching this milestone of nearly 25,000 people diving inside a Cruise Sub is a testament to our mission of making the oceans accessible. Our network of nearly 300 trained professionals reflects our commitment to advancing underwater technology and ensuring the highest operational standards."U-Boat Worx has positioned itself as a primary supplier to the cruise industry, driven by the growing demand for immersive underwater adventures. The Cruise Sub series allows cruise companies to offer guests unparalleled experiences while prioritizing safety and comfort.The submarines’ success is attributed to their adherence to stringent safety standards. U-Boat Worx collaborates with DNV, a leading classification society, ensuring their vessels meet advanced maritime standards. Andreas Fischer from DNV Maritime in Hamburg highlighted their decade-long partnership: "Our cooperation with U-Boat Worx has resulted in over 50 submersibles achieving compliance with international regulations. We congratulate them on this milestone and look forward to continued collaboration."The reliability of the Cruise Sub series has earned the trust of cruise operators worldwide. U-Boat Worx's comprehensive training program has been instrumental, with nearly 300 chief pilots trained to operate these submersibles, ensuring skilled handling in various conditions.Bryn Spencer, Chief Submersible Pilot, shared his experience, "Diving with the Cruise Sub and discovering new marine life in Chile's fjords was remarkable. Witnessing a bright orange anemone and a symphony of bioluminescence on our return was unforgettable."U-Boat Worx remains focused on advancing underwater exploration technology, with an unwavering commitment to innovation, safety, and reliability. This dedication drives the ongoing success and confidence placed in their submarines by the cruise industry.The Cruise Sub series continues to set the standard for underwater exploration. As U-Boat Worx celebrates five years of achievements and 5,000 dives, the company is poised to lead the industry with cutting-edge technology and a commitment to making underwater exploration accessible and safe.Founded in the 1980s by Bert Houtman, U-Boat Worx leads the global submersible market, continuing The Netherlands' maritime tradition with innovative, safe, and high-quality designs for both private and commercial use.Credits: U-Boat Worx
July 25, 2024
Royal Huisman, celebrating its 140th anniversary, has reached a significant milestone with the hull turning of Project 410, the world's largest sloop. This 85-meter marvel, also known as the "85m New World Sloop," represents the pinnacle of modern yacht design and engineering.Project 410, cloaked in secrecy, is a collaborative effort involving the yacht owner, Frers Design for the overall concept and naval architecture, and Wetzels Brown for the interior design. The engineering is handled by Royal Huisman's in-house team alongside expert co-makers. The project was initially unveiled at the St. Barths Bucket Regatta in 2022, but details have been sparse since then.The aluminum hull, constructed at Royal Huisman's expanded Hall 2 in Vollenhove, showcases the shipyard's commitment to pushing boundaries in superyacht construction. This latest milestone sees the main 61-meter section of the hull turned upright, a critical step in the vessel's development.The hull turning is a testament to Royal Huisman's engineering prowess and marks a pivotal point in the creation of the world's largest single-mast yacht. CEO Jan Timmerman highlighted the significance of this event, noting, "Four of the world's ten largest sailing yachts are either built by or under construction at Royal Huisman. This includes Athena, Sea Eagle, Project 410, and another large sailing yacht currently underway. These projects exemplify the advantages of large sailing yachts, such as the thrill of hoisting sails and cutting through waves, combined with advanced technologies for comfort and efficiency."Timmerman also emphasized the green credentials of these yachts, noting their ability to utilize wind propulsion and operate in an energy-neutral mode, a feature that allows for silent anchoring and efficient power generation. This approach continues Royal Huisman's legacy of innovation, initiated nearly two decades ago with the world’s first hybrid superyacht.The hull turning of Project 410 involved a meticulously planned maneuver using four cranes to lift and rotate the 200-foot aluminum structure over a canal adjacent to the shipyard. Once turned, the hull was placed on a cradle and moved back into the construction hall for further outfitting.With this phase complete, the focus now shifts to the installation of onboard systems and the completion of the bow section, which is being constructed separately. Concurrently, Rondal, a sister company, is progressing on the carbon boom, mast, and integrated sailing system.The completion of the hull turning marks a significant step forward in the journey of Project 410. As the yacht continues to take shape, it embodies the shipyard’s ethos of combining tradition with cutting-edge technology and sustainability. The Royal Huisman team, along with their partners, will continue to work towards delivering a yacht that is not only the largest of its kind but also a symbol of personal freedom and innovation.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: Royal Huisman
July 25, 2024