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.
Oceanco has launched the 111-meter diesel-electric yacht Leviathan, previously known as Project Y722, at its facility in the Netherlands. The vessel features naval architecture by Oceanco and Lateral Naval Architects, exterior design by Oceanco, and interiors by Mark Berryman Design.Commissioned by an experienced owner, Leviathan was developed with a focus on operational efficiency and crew wellbeing. According to Oceanco, crew members were involved in the design process to provide practical input. The yacht incorporates durable, low-maintenance materials such as honed stone, natural wool carpets, composite capping rails and decks, and full-height glass superstructure bulkheads, replacing more maintenance-intensive elements like teak decks and polished wooden handrails. These choices are intended to reduce routine upkeep and allow crew to focus on guest services and operational tasks.The project involved collaboration between the owner, technical representatives from YTMC, and management company Y.CO. More than 2,000 people contributed to the build, and their names are engraved on a glass panel in the main staircase.Leviathan is designed to accommodate a variety of uses, including hospitality and scientific work. She has a beam of 17.8 metres and is scheduled to begin sea trials in the coming weeks. Further details on her capabilities are expected to be released later.Credits: Oceanico
August 11, 2025
Search operations are ongoing for Mazu Yachts co-founder Halit Yukay following a collision between his yacht and a cargo vessel in the Sea of Marmara.Yukay, 43, was travelling from Yalova to the Greek island of Mykonos when the incident occurred. His family reported him missing on Monday, 4 August. The wreckage of his yacht, Graywolf, was later found off the coast of Marmara Island. Rescue teams, including divers, have been working in the area since, but no trace of Yukay has yet been found."The privacy of Mr. Yukay’s family and Mazu Yachts’ team members remains a priority during this time," the company said in a statement. "We are deeply grateful for the thoughts, prayers, and support extended to us. Verified updates will be shared through our official channels as they become available."Yukay co-founded Mazu Yachts in 2011, initially focusing on chase boats before expanding into the semi-custom yacht sector. The yard’s portfolio includes models such as the 24.9-metre Mazu 82 and the 40.2-metre flagship 132 DS. Its 28.5-metre Waterlily was a finalist at the 2024 BOAT International Design & Innovation Awards."Halit is a friend and a constant source of inspiration and bold ideas," said Nicola Pomi, head of Volvo Penta’s yacht division. "Today, while we hope and wait, we hold on to his spirit. We are closely following the ongoing search and rescue efforts, and our thoughts are with Halit, his family, and the Mazu team."Credits: Coast Guard Command (Turkey)
August 11, 2025
Paris Hilton and her family recently completed a Mediterranean holiday aboard the 24.4-meter Sunreef 80 Eco Nalani, a solar-electric catamaran that combines luxury with environmental consciousness. The black-hulled vessel served as the family's floating residence during their Sardinian getaway, accommodating Hilton, husband Carter Reum, and their two children.The Nalani features 340 square meters of living space across four staterooms and a children's bunk room. Its design emphasizes indoor-outdoor living, with a master suite featuring a private balcony and common areas that flow seamlessly between interior and exterior spaces. The yacht's integrated solar panels and hybrid propulsion system align with Hilton's public advocacy for sustainable luxury.During their charter, the family utilized the yacht's numerous amenities including a flybridge hot tub, open-air cinema, and various water toys. Hilton shared glimpses of their experience on social media, highlighting quiet family moments and Mediterranean sunsets.Sunreef's 80 Eco series represents the Polish builder's commitment to environmentally conscious yachting, combining conventional propulsion with renewable energy systems for limited silent operation. The model has gained popularity among charter clients seeking sustainable luxury options.The catamaran's layout prioritizes outdoor living with multiple lounge areas, including a forward terrace and aft beach club configuration. Its crew quarters accommodate four staff members to ensure full service during charters.Industry observers note growing interest in eco-friendly yachting solutions among high-profile clients, with solar-assisted systems becoming increasingly common in new builds. The Nalani remains available for Mediterranean charters through the current season.Sunreef continues production of its eco-focused catamaran line at its Gdansk facility, offering models from 15 to 30 meters in length. The company reports steady demand for vessels combining luxury amenities with reduced environmental impact.Sunreef Yachts was founded by Francis Lapp in 2002 in Gdansk, Poland. Since then, the shipyard has been designing and manufacturing luxury sailing and power multihulls. Credits: courtesy by Paris Hilton; Sunreef Yachts
August 8, 2025
Nautor Swan will present two new sailing yachts at Europe's premier marine events this autumn. The Swan 51 performance cruiser will make its world premiere at the Cannes Yachting Festival (9-14 September), while the flagship Swan 128 will debut at the Monaco Yacht Show.Swan 128The 15.5-meter Swan 51 enters the competitive 50-foot segment as the smallest model in Swan's performance cruiser line. Developed from experience gained with over 70 yachts between 14.6 and 16.8 meters built since 2019, the design features a mast positioned closer to the keel for improved balance. The model succeeds the original 1981 Swan 51, the first Swan collaboration with designer German Frers.Giovanni Pomati, Nautor Swan CEO, stated: "From the high-performance elegance of the Swan 51 to the refined design of the Swan 128, we offer our global sailing community to experience the authentic spirit of sailing."Alongside the Swan 51, Cannes attendees will see the ClubSwan 43 and Swan 88 models. The 39-meter Swan 128 will represent the Finnish builder's largest offering at Monaco.Swan 51From 19-21 September, Nautor Swan will host an exclusive viewing event at Porto Carlo Riva in Rapallo, Italy, providing private access to its current model range.The autumn presentations mark Nautor Swan's continued expansion across multiple sailing yacht segments, from performance cruisers to maxi yachts. Both new models will be available for viewing by appointment following their official debuts.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
August 7, 2025
Riva has launched its new 54-meter flagship, the largest yacht ever built by the Italian shipyard, at its Superyacht Division facility in Ancona. The all-aluminum vessel represents the brand's expansion into the megayacht segment while maintaining Riva's signature styling.Developed through collaboration between Officina Italiana Design, Ferretti Group's Engineering Department, and the Strategic Product Committee led by Piero Ferrari, the 54METRI features a gross tonnage below 500 GT. The exterior design combines Moon Grey, London Grey, and Bright Black finishes with polished steel details and the brand's characteristic aquamarine waterline.Ferretti Group CEO Alberto Galassi stated: "Now every yachting enthusiast and Riva fan has a new boat to dream about. A paragon of beauty and elegance, Riva 54METRI showcases the unstoppable momentum of the world's most famous shipyard in its pursuit of innovation."The four-deck layout accommodates 10 guests across four cabins and a main-deck master suite, with crew quarters for 11 personnel. Notable features include a 5-meter stern pool with fold-out terraces, concealed bow tender storage, and extensive use of premium materials including Sahara Noir and Bianco Rhino marble.Technical specifications include four electric stabilizer fins, dual radar systems, 5G and Starlink connectivity, and a bridge outfitted with multiple touchscreen displays. The design emphasizes acoustic insulation and crew circulation routes to maintain guest privacy.Sea Pros Yachts founder Alain Maaraoui facilitated the build for the Kuwait-based owner. The launch marks Riva's continued expansion of its superyacht offerings while preserving design elements from its smaller production models. The 54METRI will now undergo final outfitting before delivery.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
August 7, 2025