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.
The Italian Sea Group has announced ongoing progress in the construction of its Admiral 70m mega yacht, model C.615. The vessel, part of the successful Admiral fleet, is being outfitted at the group’s Marina di Carrara shipyard.With the hull and superstructure completed, the shipyard is now focused on installing and optimizing facilities in line with the production schedule. Outfitting activities are expected to follow soon.“This exceptional yacht is the result of a perfect synergy of an innovative design, advanced technology and great craftsmanship by The Italian Sea Group,” said Giovanni Costantino, Founder and CEO of The Italian Sea Group. He also highlighted the “growing appreciation of our megayachts by a growing and resilient global clientele thanks also to important partnerships with the industry's top brokers.”Designed by the Centro Stile of The Italian Sea Group, the Admiral 70m features sleek exteriors with expansive deck spaces and large windows. The interior layout includes accommodations for up to 14 guests across seven VIP and guest cabins, complemented by 10 crew cabins.The Admiral 70m mega yacht is scheduled for delivery in 2026.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: The Italian Sea Group
December 6, 2024
German shipyard Abeking & Rasmussen has commenced construction on a 79.9-meter superyacht, currently referred to as hull 6516. The keel-laying ceremony took place at G&K SteelCon's facilities in Świnoujście, Poland, and was attended by representatives from the client, shipyard, classification society, and subcontractors.Few details have been disclosed about the project, but Abeking & Rasmussen has confirmed that a "well-known, UK-based design office" is responsible for the yacht’s design. The vessel will feature tenders, water toys, and interiors described as “modern, but cozy.”The shipyard highlighted the project as a continuation of its tradition of producing innovative 80-meter yachts, incorporating the latest technology and equipment. "After the delivery of the largest yacht ever built at Abeking & Rasmussen – the 118.2-meter Liva O – this project follows the long history of well-proven 80-meter projects,” said a spokesperson. “We, together with all parties, are proud to have the opportunity to build this fantastic yacht.”The Liva O, delivered in December 2023, included notable features such as a Neptune lounge equipped with a 3.4-meter by 1.3-meter semi-submerged window, showcasing the shipyard’s expertise in cutting-edge design and engineering.Credit: Abeking & Rasmussen
December 6, 2024
In light of recent significant developments, including the acquisitions of Simpson Marine and Nautor Swan, Sanlorenzo has announced a revamped organizational structure aimed at fostering growth across its operations.The Group's recent expansion, marked by the integration of Simpson Marine – one of the premier yacht sales and service providers in the Asia-Pacific region – and Finland's renowned Nautor Swan shipyard, has prompted this strategic restructuring.Tommaso Vincenzi has been appointed as Executive Director of Sanlorenzo S.p.A., overseeing the company through two newly formed steering committees focused on the Yacht and Superyacht Business Units. These committees will shape and execute the strategic initiatives and development projects for their respective sectors. Vincenzi, who joined Sanlorenzo in 2008 as Product Development Project Manager, has played a pivotal role as COO of the Yacht Business Unit, driving the company’s strategic growth through the launch of new models, establishment of additional production facilities, and enhancements in production capacity, all contributing to increased volume, revenue, and profitability. He previously served as President of the Yacht Business Unit.To enhance collaboration between the Yacht and Superyacht divisions, Sanlorenzo has also established a Sales Management team, led by Vincenzo Soria, who takes on the role of Chief Sales Officer. Soria brings extensive commercial experience from his time at VMarine, where he operated in key markets such as France, Monaco, and Northwestern Italy. He will focus on developing commercial strategies and coordinating various geographical areas, alongside Sanlorenzo's Brand Representatives.Pier Francesco Acquaviva has been appointed Corporate General Manager, having joined Sanlorenzo in 2022 as Group HR Director and later assuming the role of Head of Sustainability, a critical area for the Group's strategic objectives. Acquaviva, a graduate in Economics, previously worked with Ferrari and Huntsman, before joining Bonfiglioli. In his new position, he will oversee corporate functions with cross-functional responsibilities across the Business Units, including:Group AFC, M&A, and Investor Relations, continuing under Group CFO Attilio Bruzzese, Group Corporate Integration and Strategic Projects, Group HR & Organization, Group ICT, Group Legal and Corporate Affairs, Group Sustainability.Attilio Bruzzese remains confirmed as the manager responsible for preparing the company's financial statements in accordance with Article 154-bis TUF, maintaining his existing powers, duties, and responsibilities.New Organizational Structure of the Business UnitsAlongside the existing Business Units, additional units have been introduced, resulting in a redistribution of management responsibilities. The updated organizational structure reports directly to Massimo Perotti, Chairman and CEO of the Sanlorenzo Group:The Yacht and Superyacht divisions will be overseen by Tommaso Vincenzi,Bluegame continues under Carla Demaria's leadership,Nautor Swan remains guided by Giovanni Pomati,The High End Service and Charter Fleet will still be managed by Luca Cristino.Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length. Credits: Sanlorenzo
December 6, 2024
Heesen Yachts marks a significant milestone with the keel laying of Project Grace, a 50-meter Fast Displacement Hull Form (FDHF) steel yacht, representing the inaugural model in their new 50-meter series unveiled at last year's Monaco Yacht Show.The keel laying ceremony was attended by a Lloyd’s Register surveyor, signifying the official launch of this innovative vessel. In a meticulous process designed to maintain quality, all Heesen steel hulls are welded off-site, preventing cross-contamination with aluminum production. Heesen collaborates closely with Talsma, a respected shipyard in Friesland, known for its maritime excellence. This partnership ensures that each hull adheres to Heesen's stringent quality standards, with rigorous quality control protocols throughout the construction process.Heesen employs proprietary construction techniques honed over years of experience within the Talsma facility, optimizing production efficiency and ensuring exceptional hull quality. Once the steel hull is finished, it will be transported via rivers and canals to Heesen's shipyard in Oss for engine room installation and outfitting, aligning with Heesen’s exacting Dutch standards of excellence.For the design of this new 50-meter Steel Series, Heesen has taken a holistic approach, engaging British studio Harrison Eidsgaard for both the exterior and interior aesthetics. With a gross tonnage of 499 GT, Project Grace's Fast Displacement steel hull is engineered for outstanding seaworthiness and comfort in various sea conditions. The design also allows for the optional integration of Heesen’s hybrid propulsion systems, promoting sustainable luxury cruising.“The design of Heesen's 50-meter steel exudes confidence,” remarked Peder Eidsgaard. “It captures the sporty essence of our aluminum yachts while presenting a refined and timeless profile that is built to endure.”Project Grace features sleek, modern lines and low bulwarks that enhance the panoramic views, while full-height windows and the absence of fashion plates flood the interiors with natural light, creating a seamless connection between indoor and outdoor spaces. The layout prioritizes guest comfort and crew efficiency, boasting separate crew access for discreet service and ample storage for tenders and toys.“The key to a successful layout in a 499 GT yacht lies in simplicity and versatility,” explained Robert Drontmann, Heesen's Sales Director. “We aim to maximize lifestyle space for guests while providing crew with optimal working conditions. Unique features like the infinity pool and a multifunctional coffee table that doubles as an atrium skylight will serve as gathering points. The spacious sundeck will comfortably accommodate up to 20 guests for outdoor dining, emphasizing hospitality as a core element of the yachting experience.”YN 21350, Project Grace, is currently available for sale, with delivery anticipated in Q1 2027.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: Ruben Griffioen/Heesen Yachts
December 5, 2024
Vladi Private Islands, the leading brokerage for private islands around the globe, has unveiled a remarkable holiday offering: the Ultimate Package. Kaibu Island, a stunning private island, stands out as the only one in the world to feature its own U-Boat Worx submarine, renowned as a leader in private, research, and cruise industry submersibles, along with a Twin Otter airplane. This exclusive package is available through Vladi Private Islands for $79.5 million.Nestled in the idyllic Northern Lau Group of Fiji, Kaibu Island spans 800 acres of paradise, offering an unmatched blend of luxury and adventure. Currently operating as a high-end retreat, it includes three beach-access villas, pristine infrastructure, and premium amenities such as a private airstrip, marina jetty, and cutting-edge energy systems.What truly distinguishes this exceptional property is its unique offering, positioning it as the ultimate destination for adventure seekers. Guests will have access to a state-of-the-art U-Boat Worx submersible, allowing for extraordinary explorations of the vibrant underwater realm in both safety and style, complemented by a Twin Otter airplane for effortless access to the island from anywhere in the Pacific.This is the first time a private island package of this caliber has been introduced to the global market, setting a new standard for luxury living and exploration."We are excited to be part of this extraordinary offering," said Roy Heijdra, Marketing Manager at U-Boat Worx. "Our submersibles are crafted to unveil the wonders of the underwater world, providing an unmatched blend of safety, innovation, and luxury. With Kaibu Island serving as the ultimate base for exploration, this package establishes a new benchmark for adventure and exclusivity."“Christmas is just around the corner, and the quest for the perfect gift is in full swing. But what do you get for someone who already has it all? Introducing our new Ultimate Package,” stated Farhad Vladi, CEO of Vladi Private Islands. “Kaibu Island is the premier destination for discerning explorers. The island represents one of the most complete private island properties available today. With the addition of the U-Boat Worx submarine and the Twin Otter aircraft, we are proud to offer a package unlike any other on the market.”Since its establishment in 2005, U-Boat Worx has been at the forefront of submersible innovation, consistently prioritizing safety, performance, and comfort, enabling explorers to uncover the mysteries of the ocean depths.Credits: U-Boat Worx
December 5, 2024