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.
Dutch shipyard Van der Valk recently presented two new custom superyachts, the 35-meter Lalabe and 34-meter One, cruising together in the North Sea. Both vessels share design lineage with the award-winning 34-meter explorer Lady Lene, demonstrating the yard's custom-build capabilities.Lalabe, en route to the Mediterranean for her maiden season, was commissioned for multi-generational family use. The yacht's hull is optimized for fast displacement cruising up to 17 knots. Exterior and interior styling by Guido de Groot incorporates residential-inspired elements, including an aft beach club with sauna, steam room, and terrace-like seating. The interior features light-toned woods, curved furnishings, and a neutral color scheme. The yacht will make its global debut at the Cannes Yachting Festival in September.LalabeOne, currently available for sale, offers immediate delivery. The yacht combines De Groot's exterior design with Carla Guilhem's contemporary interior, using a white and cream palette with dark wood accents. Large windows and open deck spaces emphasize indoor-outdoor connectivity. Powered by twin Volvo Penta engines, One reaches 14.4 knots and includes a fold-out swim platform and substantial toy storage.OneBoth yachts utilize Lady Lene's proven hull engineering while featuring distinct customizations above the waterline. Lalabe focuses on family-oriented spaces, while One prioritizes entertainment areas across four decks.The simultaneous appearance of these vessels highlights Van der Valk's capacity to deliver personalized superyachts within the 34-35 meter range. Prospective buyers can inspect One for potential summer delivery, while Lalabe prepares for its first charter season. The yachts will be displayed at Van der Valk's Cannes Yachting Festival.Van der Valk is a family-run company building comfortable, innovative and efficient (semi) custom motor yachts from 18m to 45m. From its humble roots in the 1960s, Van der Valk today has a global fleet of over 1000 motor yachts. Credits: Van der Valk
July 21, 2025
Turkish yacht builder Numarine has launched the first unit of its new 40MXP model, a 40-meter superyacht that becomes the flagship of its XP explorer series. Two additional hulls are currently under construction, with deliveries scheduled for 2025.The 40MXP represents an evolution of the shipyard's popular 37XP model, maintaining the series' long-range capabilities while introducing new Mediterranean-inspired features. The yacht retains a 6,000-nautical-mile range at 8 knots, achieved through an optimized hull design by naval architect Umberto Tagliavini.Ömer Malaz, Chairman at Numarine, stated:"Preserving the same stylistic cues and DNA of all our models, the 40MXP retains our high-volume, low-maintenance, long-range ethos while offering a number of new design features that enhance the intimate connection with the sea that a yacht provides."Key design developments focus on outdoor living spaces, particularly an expanded aft deck area achieved through both increased hull length and strategic repositioning of the saloon doors. This space accommodates an alfresco dining area, bar, lounge, and a standout feature - an aft pool with glass transom. The area connects to a full-beam hydraulic swim platform and can be shaded for sun protection.Power comes from twin MAN 800hp engines as standard, with an optional 900hp Tier III-compliant configuration available. The yacht's 8-meter beam allows for generous interior volumes, with accommodation for up to 12 guests across six suites, including a full-beam master stateroom on the main deck. Two additional customizable cabin spaces offer layout flexibility.Designer Can Yalman handled both interior and exterior styling, maintaining Numarine's signature aesthetic. The model inherits successful features from the 37XP including an expansive flybridge and substantial tender storage capacity. The tender deck can accommodate a 9-meter tender, three jet skis, and additional water toys.Chris Gore, Sales & Marketing Director at Numarine, commented: "We are extremely excited to have delivered the first of the all new 40MXP. Our new flagship offers true luxury blended with versatility be that for family or charter use, whilst maintaining our core Numarine DNA."The 'MXP' designation reflects the yacht's Mediterranean explorer concept, emphasizing connection to the water while retaining transoceanic capabilities. The model enters a competitive segment of the explorer yacht market, positioned as a bridge between luxury cruising and serious long-range functionality.With this launch, Numarine continues its focus on the explorer yacht segment, building on the commercial success of its XP series. The 40MXP's combination of extended range and enhanced outdoor living spaces targets owners seeking both adventure capability and contemporary lifestyle features.Credits: Kerem Sanliman/Numarine
July 18, 2025
The Italian Sea Group has completed delivery of a new 78-meter Admiral megayacht from its Marina di Carrara facility. The vessel, now the flagship of the Admiral fleet, features exterior and interior design by Sinot Yacht Architecture & Design.The yacht's distinctive profile incorporates a two-tone metallic paint scheme in white and blue hues. Its unconventional three-deck layout provides streamlined aesthetics while maintaining interior volume. The propulsion system combines five variable-speed generators with two 2-mW azimuth pods, delivering 5 mW total power output. This diesel-electric configuration achieves a top speed of 17 knots with reduced vibration and noise levels.Technical features include a lithium polymer battery bank enabling zero-emission operation for limited durations and peak load management. The system incorporates SCR (Selective Catalytic Reduction) and DPF (Diesel Particulate Filter) technologies, with exhaust routed to the masthead for dispersion.Interior spaces feature panoramic windows in the bridge salon and designer lighting elements. Amenities include a 6-meter swimming pool, spa facility, gymnasium, diving area, and Touch & Go helipad. Material selections emphasize premium finishes with a neutral color palette throughout guest areas.Gianmaria Costantino, CCO of The Italian Sea Group, stated: "This delivery marks a new and important milestone for our Group. Every detail of this yacht reflects our vision of contemporary luxury – where top-tier craftsmanship, timeless design, and sustainable innovation come together in perfect harmony."The project represents the shipyard's continued focus on large custom superyacht construction, incorporating both advanced marine technologies and bespoke design elements. The delivery underscores the group's capability to execute complex megayacht projects for discerning clients.With this completion, The Italian Sea Group reinforces its position in the upper segment of the global superyacht market. The vessel now joins the operational fleet of Admiral-branded yachts, with the shipyard maintaining its production schedule for additional custom projects currently in build.The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credit: Lorenzo Tampucci/The Italian Sea Group
July 18, 2025
Ferretti Group's Yard in Ancona has launched the third hull of the Custom Line Navetta 38 series on March 20. The 38.76-meter displacement yacht, with a beam of 8.00 meters and 299 GT volume, entered the water during a private ceremony attended by the European owner family and shipyard personnel.This marks Custom Line's fifth launch in the first quarter of 2024, demonstrating the shipyard's active production schedule. The Navetta 38 model was developed by Ferretti Group's Product Strategy and Engineering Departments, with exterior design by Filippo Salvetti and interiors by ACPV ARCHITECTS Antonio Citterio Patricia Viel. The Custom Line Atelier team facilitated owner customization throughout the build process.The owners, existing Ferretti Group clients with two previous yachts from the builder, prioritized personalized interior solutions to enhance spatial perception and natural light. Design features include mirrored ceiling panels in the main deck lounge and strategic placement of reflective surfaces along walls and architectural details. Full-height windows were incorporated to maintain visual connection with the marine environment.Notable customizations include a reconfigured galley space with optimized storage depth, designed to serve as a social hub while maintaining aesthetic coherence. Material selections emphasize durability, with Botticino Semi Classico marble specified for the master bathroom.The interior palette combines neutral beige tones with contrasting mocha and brown accents, complemented by natural teak, oak, and leather finishes. Luminous wallpaper treatments contribute to the yacht's refined atmosphere.The Navetta 38 is designed for extended cruising with large guest groups, balancing functional durability with the brand's signature aesthetic standards. The model represents Custom Line's continued focus on customized displacement yachts within its product range.With this launch, Ferretti Group reinforces its position in the mid-size superyacht segment, maintaining production momentum at its Ancona facility. The yacht will now undergo final outfitting before delivery to its owners.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
July 18, 2025
The 70-meter sailing superyacht SY Zero, the world’s first designed to operate entirely without fossil fuels, is approaching the final stages of construction, with an expected launch by the end of 2025. The project, a collaboration between Vripack Yacht Design, Vitters Shipyard, and Dykstra Naval Architects, represents a significant step in sustainable yacht development, backed by over 60,000 hours of research and innovation.SY Zero is engineered to rely solely on wind, solar, and thermal energy while maintaining the performance and luxury standards of a traditional superyacht. The project aims to demonstrate the feasibility of eliminating fossil fuel dependency in high-end yachting. All technical data, system designs, and research findings will be made publicly available through FoundationZero.org, providing open access to sustainable maritime innovations for designers, engineers, and researchers.The yacht’s energy system is entirely electric, powered by a five-megawatt-hour battery storage system—equivalent to the capacity of 88 Tesla vehicles. Renewable energy is harvested through multiple methods: hydro-generating thrusters capture energy from water flow while under sail, a 100-square-meter hybrid solar panel array converts both light and heat at 60% efficiency, and a wind turbine supplements power generation using offshore airflow.Marnix Hoekstra, co-creative director at Vripack, stated: “This project has always been about showing what’s possible. We wanted to demonstrate that comfort, design, and performance can coexist with fossil-free operation. The project has been driven by data, testing, and a long-term commitment to sustainable naval design. Our goal wasn’t just to prove that a fossil-free superyacht is viable—it was to create a real-world model others can learn from.”Vitters Shipyard, known for high-performance sailing yachts, led the construction. Louis Hamming from Vitters commented: “From the outset, this has been about building a yacht that reflects a future we all recognize is coming. It’s a privilege to help bring that future into reality.”The interior accommodates up to 12 guests, featuring sustainable materials such as pine-based leather and leathered marble, which retains natural imperfections. Each cabin draws inspiration from a global destination, with bespoke artworks crafted by local artisans.Following its technical launch, SY Zero will undergo extensive sea trials to test its advanced systems, including proprietary software managing onboard operations. Delivery is expected in 2026, seven years after the project’s inception.Eduard van Benthem, Executive Director at Foundation Zero, emphasized the broader mission: “The project isn’t about showing how good we are, nor even specifically about the yacht itself. We are really trying to showcase how we can do things better and inspire others to join us on the journey, to learn together and to share the knowledge, which is the fundamental aim of Foundation Zero in all its projects.”Beyond private use and limited charter opportunities, SY Zero will serve as a research platform for marine renewable energy and ocean sustainability studies, furthering its role in advancing eco-conscious yachting.Vitters Shipyard is a Dutch high-end performance yacht builder. The shipyard was founded in 1990 by Jan Vitters. The company delivered the first luxury sailing boat, the 28m Aphrodite, in 1993. Vitters Shipyard has a crew of dedicated engineers and craftspeople who have a strong eye for detail and the passion to exceed the expectations of its yacht owners.Credits: Vripack
July 17, 2025