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.
Hargrave Superyachts has launched its new 38-meter tri-deck motor yacht, the Hargrave 125, from its Antalya, Turkey facility. The vessel, designated Project 125, will debut at the 2025 Cannes Yachting Festival.With a 7.92-meter beam and 1.95-meter draft, the Bahamas-compliant design features a displacement hull optimized for long-range cruising. Stabilization systems operate both at anchor and underway. The 330GT interior maintains 2.2-meter ceiling heights throughout its 10-guest, 7-crew configuration.Power comes from twin Caterpillar C32 main engines with matching 75kW generators, delivering a 17-knot cruising speed. An ASEA power converter ensures global shore power compatibility. The yacht carries a 10-year structural warranty and equivalent coverage for main mechanical components.Hargrave includes a six-month management package with each sale. The vessel remains available for inspection ahead of its Cannes showing.Credits: Hargrave Custom Yachts
June 20, 2025
The Yacht Club Costa Smeralda is hosting the 2025 Swan One Design Worlds from June 17-21, featuring 35 teams from 30 nations competing across four one-design classes. The event marks the competitive debut of the ClubSwan 28 class alongside established ClubSwan 36, 42 and 50 fleets."The Swan One Design Worlds highlight the energy and camaraderie of the ClubSwan family," said Luisa Bambozzi, Managing Director of ClubSwan Racing. "Porto Cervo provides the ideal setting to combine world-class racing with vibrant shoreside activities."The regatta features defending champions in multiple classes, including Mamao (ClubSwan 36) and Nadir (ClubSwan 42). Notable entries include Leonardo Ferragamo's Cuordileone and Marcus Brennecke's Hatari in the ClubSwan 50 division. The newly introduced ClubSwan 28 class will compete for its first Gold Cup, with seven teams including youth entry NOX OCEANI featuring 13-year-old helmsman Giorgio Nocella.Giovanni Pomati, CEO of Nautor Swan, emphasized the event's community aspect: "This regatta represents the unity and international spirit that defines the ClubSwan family." The competition schedule allows for eight races per class (ten for ClubSwan 28), with Mistral winds expected for the final racing days.Social events include class dinners and an owners' reception at YCCS, culminating in Saturday's prize ceremony. The ClubSwan Academy continues its youth development program, providing young sailors access to competitive racing platforms.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
June 19, 2025
Italian yacht builder Mylius Yachts has revealed details of its new M60GL sailing yacht, an 18.5-meter performance cruiser-racer designed by Giovanni Ceccarelli. The first unit is currently under construction for a European owner, with delivery scheduled for 2026.The M60GL features a carbon fiber hull with Corecell core construction, combining racing performance with cruising comfort. The design includes a 24-meter carbon mast supporting a 120 sqm mainsail and 325 sqm gennaker, with deck hardware from Harken Racing GP. The yacht's 5.5-meter beam provides expanded social areas while maintaining competitive sailing characteristics."Ceccarelli has captured the owner's brief perfectly, blending innovation with our family feeling of speed, beauty and comfort," said Mylius Yachts CEO Valentina Gandini. The first hull will feature a three-cabin layout with bleached oak flooring and high-gloss white bulkheads, showcasing the yard's customization capabilities.Key features of the M60GL include twin helm wheels with integrated Mylius branding, a convertible transom serving as both swim platform and tender garage, and removable cockpit elements that allow conversion between racing and cruising configurations. The yacht's systems include B&G instrumentation and domotic controls, with optional removable appliances for racing use.Mylius reports strong market interest in the model, which targets owners seeking competitive racing capability without sacrificing cruising comfort. The M60GL represents the yard's continued focus on fully customized carbon fiber construction for performance-oriented sailing yachts.The Mylius Yachts shipyard, headquartered in Podenzano, has been dedicated to the construction of fast sailing vessels and performance cruisers with a recognizable and winning style since its foundation. Mylius is among the leaders in the production of yachts ranging from 55 to 80 feet. Mylius has added the production of motorboats, including fast motorboats and habitable motor yachts.Credits: Mylius Yachts
June 19, 2025
Damen Yachting has commenced sea trials for the first 80-meter Amels Limited Editions superyacht, marking the final phase before its scheduled summer delivery. The vessel represents the latest addition to the Amels series, featuring hybrid propulsion technology designed to reduce emissions and enable quieter operation.Project manager Romke van der Linde stated: "The sea trials offer a unique opportunity to experience firsthand the innovation, design, and power that this yacht delivers." The trials will evaluate the yacht's performance, including its hybrid system's efficiency and operational capabilities.The Amels 80 incorporates design elements focused on sustainability alongside traditional Dutch shipbuilding techniques. The yacht's technical specifications and interior layouts remain undisclosed, though Damen Yachting confirms the vessel maintains the Limited Editions' standard configuration options.Construction of the Amels 80 began at Damen's Vlissingen facility, with the hull and superstructure completed before the start of outfitting. The sea trials will be conducted in the North Sea, with final delivery to the owner expected following successful completion of all tests.Damen Yachting currently has multiple Amels Limited Editions models in various stages of construction at its Dutch shipyards. The 80-meter platform joins the existing 60-meter and 78-meter offerings in the series.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
June 18, 2025
The European Boating Industry (EBI) federation has elected Fabio Planamente, Vice President of the Italian Marine Industry Association, as Special Representative for the Large Yacht Sector during its General Assembly in Hamburg. Planamente will serve a two-year term on the EBI board alongside newly elected President Robert Marx (VMWD/Germany) and other European industry leaders."I am honored to have received this assignment," said Planamente. "This role recognizes the work carried out by our President Piero Formenti during his terms leading EBI, and confirms Italy's strategic position in the global yacht sector." The Italian delegation will focus on US/EU tariffs and new propulsion technologies during the upcoming term.Fabio PlanamenteThe Assembly saw EBI formalize new partnerships with the European Fishing Tackle Trade Association and Foundation for Environmental Education, while establishing a permanent Life Cycle Assessment working group. Membership expanded to include ACAP-APICAN (Portugal), Fédération Française Ports de Plaisance (France), and the returning Slovenian Marine Industry Association, bringing total representation to 32 members across 21 European countries - the highest since EBI's 2009 founding."This appointment confirms Italy's leadership in the large yacht industry," stated Piero Formenti, President of the Italian Marine Industry Association. The federation reviewed progress on its Blue Boat Horizon initiative and prepared for upcoming EU regulatory discussions affecting marine industries, including sustainability standards and marina certifications.EBI, where the Italian Marine Industry Association holds founding member status, serves as the principal European recreational marine industry representative. The expanded board now includes delegates from all major European boating markets to address sector-wide challenges.Credits: Italian Marine Industry Association; Unsplash
June 18, 2025