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.
ISA Yachts, a brand of Palumbo Superyachts, has launched the ISA GT 66-meter model as part of its Gran Turismo yacht series. The exterior design was developed by Team for Design - Enrico Gobbi.The yacht features a metallic blue-grey exterior with a long teak bow designed as a multifunctional lounge area. The design includes floor-to-ceiling windows and wide side decks with glass balustrades. A sky lounge integrated into the profile can be customized as a dining area, gym, or panoramic lounge with a hot tub. The aft main deck features an infinity pool with adjacent lounge areas.The interior incorporates organic furnishings with materials including wood, wenge inserts, marble, and satin-finish brass. The main deck contains a full-beam master stateroom with a walk-in closet, bathroom, and lounge area, along with two guest cabins. The lower deck accommodates four additional double cabins.The wellness area includes a spa and fold-out platforms providing direct access to the sea. The yacht maintains the sport-oriented design characteristics of the Gran Turismo line while emphasizing social areas and natural light throughout interior spaces.Palumbo Superyachts took root in 2008, when the Columbus Yachts brand was established, and in 2011 it launched its first 54m superyacht, emblematically christened Prima (the First). Currently, Palumbo Superyachts comprises a representative office in Monaco and a logistics network of five shipyards in the Mediterranean (Ancona, Malta, Marseille, Naples, and Savona); it also operates the following brands: ISA Yachts, Columbus Yachts, Mondomarine and Palumbo SY Refit.Credits: ISA Yachts
September 18, 2025
Gruppo Antonini S.p.A. has been awarded the IRENA 3 EPC project by EDINA, a joint venture between Edison Gas and Croatian operator INA. The contract value is approximately €23 million. Gruppo Antonini will serve as the agent in a consortium with two other companies.The project involves the engineering, construction, and installation of an offshore platform in the Northern Adriatic. The platform will consist of a jacket, foundation piles, and a topside with a total weight of approximately 800 tons. It will be installed at a depth of 35 meters and connected via pipeline to the existing Izabela North platform.A distinctive feature of the platform is its energy system, which will be powered entirely by photovoltaic panels. The facility will be fully automated and controlled remotely through a distributed control system (DCS) that allows remote monitoring of process parameters.This project represents the first of eight planned offshore developments in the Northern Adriatic aimed at increasing production from the IVANA gas field. The contract includes supply of materials, engineering, construction, pre-commissioning, commissioning, marine transport, and offshore hook-up operations.This award follows other major projects secured by Gruppo Antonini in Libya and the northern Adriatic region in 2024.Antonini Navi, the maxi-yacht builder established in 2019 by the storied Gruppo Antonini Spa and managed directly by the same family in close partnership with partner and commercial director Aldo Manna.Credits: Antonini Navi
September 18, 2025
Forte Yachts is in the final stages of construction for its first model, the Forte 47. The 14-meter yacht, which debuted at the 2025 Cannes Yachting Festival, is scheduled for launch in November 2025. The vessel is being built at the company's shipyard in Ameglia, Italy.The aluminum-built yacht features a vertical bow and a hardtop that spans over half its length. Its most distinctive feature consists of two fold-out terraces positioned amidships, which open outward to create sea-level lounge areas. The deck design incorporates a walkway only on the port side to maximize interior volume.The yacht is available in two configurations. The Gran Turismo version uses triple Mercury V12 600hp outboard engines with an estimated top speed of 45 knots. The Lounge Deck version features twin Volvo Penta IPS D8-800 inboard engines and an enclosed saloon with full-height glazing.The interior includes two cabins and two bathrooms with separate showers, with headroom exceeding two meters throughout. The hull design by Umberto Tagliavini of Marine Design emphasizes stability and efficient planing.Technical Manager Livio Franchini stated: "Opening the terraces transforms the yacht entirely. It creates a seamless connection with the sea that feels unprecedented in a 14-meter vessel."Brand co-founder Fernando Moricca stated: "Our clients are not just buying a boat; they are creating a tailored experience. The aluminium build allows us to adapt every element to individual tastes and requirements."Paolo Giordano, Head of Design, stated: "We wanted to ensure that the yacht feels like a true home on the water and challenge what owners expect in this size range. Every detail, from bathroom height to kitchen layout, has been crafted with liveability in mind."Current construction status includes completed hull, superstructure, and deck awaiting pre-paint treatment. Engine installation and interior assembly are underway, with the engine room reported to be 80% complete.Credits: Forte Yachts
September 18, 2025
Royal Huisman has unveiled a 50-meter concept yacht named AERA. The design incorporates a wing sail system and fuel cell technology aimed at reducing emissions. The concept follows the shipyard's 2024 launch of Project Tidal Shift, an environmental initiative focused on ecological preservation.The yacht's wing sail, developed by Artemis Technologies and Rondal, measures 245 square meters and is capable of rotating 360 degrees. The unstayed wing sail system does not require traditional sails, sheets, blocks, or winches. Two electric motors inside the yacht rotate the mast, while hydraulic cylinders control adjustable flaps along its trailing edge.AERA is designed to operate under 500 gross tonnage. The concept results from a collaboration between Royal Huisman, Rondal, designer Cor D. Rover, and Artemis Technologies. The design allows the vessel to function under both sail and power.Royal Huisman previously delivered the world's first hybrid superyacht, Ethereal, in 2009. The shipyard states that AERA represents a continuation of its focus on integrating new technologies to address sustainability in yacht building.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.Credit: Royal Huisman
September 17, 2025
Tankoa Yachts has completed the acquisition of the business division of Otam. The transaction, finalized in agreement with both companies' founding families, includes the Otam brand and its historic shipyard in Genoa. The dockyard facilities in Santa Margherita Ligure remain under the current ownership.The acquired Genoa facility comprises approximately 4,800 square meters of covered areas, 3,300 square meters of open-air spaces, and a water basin of nearly 10,000 square meters. Tankoa Yachts plans to implement a restructuring program that will include extending concessions, reorganizing the areas, and constructing new production sheds.The operation includes the integration of Otam's workforce into Tankoa Yachts. All employees are being transferred to ensure job continuity and to add new skills and experience to the shipyard.The Otam brand, with its existing heritage and international reputation, becomes part of Tankoa's portfolio. Tankoa Yachts stated it will preserve the brand's legacy while defining a strategy aligned with its long-term vision.This acquisition represents a continuation of the expansion project Tankoa Yachts presented at the beginning of 2025 and strengthens the company's presence in the Genoa region.Credits: Tankoa Yacht
September 17, 2025