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.
Royal Hakvoort has signed a construction contract for a 70.1-meter superyacht, designated Project YN258. The vessel, designed for long-range cruising, will be the largest project in the shipyard's history in terms of both length and gross tonnage.Construction will begin immediately at the shipyard's facility in Monnickendam, the Netherlands, with delivery scheduled for 2029. The project involves an all-Dutch team, with Sinot Yacht Architecture & Design responsible for the design and Diana Yacht Design providing the naval architecture. The sale was brokered by 26 North Yachts, with Arrow Monaco acting as the owner's project management company.The yacht will have a beam of 11.6 meters and a gross tonnage of 1,513. Accommodation is planned for up to 14 guests in seven cabins, including two owners' suites – one located on the bridge deck and another occupying the entire owners' deck. Crew quarters will accommodate 20 staff and include a mess hall, a dedicated gym, and technical spaces designed for accessibility on long voyages.Reported features include a touch-and-go helipad, a sports court, and a swimming pool, with a layout emphasizing a balance between indoor and outdoor areas.Royal Hakvoort is a family-owned shipyard. She was founded by Albert Kizn Hakvoort in 1919. The yard is based in the historic Dutch village of Monnickendam. The shipyard is able to guarantee best in class quality for custom built motor yachts and sailing yachts up to 65m in length.Credits: Royal Hakvoort
September 23, 2025
German marine glass manufacturer Yachtglass and Italian manufacturer Hard Glass have established a joint venture named Ocean Glass. The companies will continue to operate independently while using the new entity to develop markets and provide glazing solutions to shipyards internationally.The joint venture will be officially introduced at the 2025 Monaco Yacht Show at Stand DS 57 in Darse Sud. Both companies have previously supplied custom glass for yachts, including vessels exceeding 120 meters in length.Silvia Buck, CEO of Yachtglass, stated: “This strategic partnership merges German engineering precision with Italian design expertise. Together, we’re poised to deliver custom, high-specification glass solutions for the most sophisticated superyachts on the market. We’re particularly focused on expanding our presence in Turkey, the Middle East, and Asia - regions where demand for premium European craftsmanship continues to grow.”Fiorenzo Furlan, president of Hard Glass, added: “Ocean Glass represents the fusion of uncompromising quality and refined aesthetics at sea. Our new venture is committed to delivering marine glass systems that meet the highest standards of safety, performance, and design. Partnering with Yachtglass allows us to scale our vision and set new benchmarks for the industry.”The formation of Ocean Glass occurs as demand increases for large-scale glazing solutions on superyachts, where exteriors often incorporate hundreds of square meters of custom glass. The venture aims to combine German engineering and Italian design capabilities to serve emerging shipbuilding regions.Credits: Ocean Glass
September 23, 2025
Northrop & Johnson has listed the 23.86-meter expedition yacht Vanguard for sale at $3,980,000. Yacht Broker Mike Finnegan is representing the vessel, which was delivered by Naval Yachts in 2023.The XPM 78 platform yacht is designed for long-range cruising with a focus on efficiency and system integration. Vanguard recently completed a 7,000-nautical-mile voyage along the U.S. Atlantic Coast and into Greenland's High Arctic waters, conducted with two ice pilots onboard.Propulsion is provided by a diesel-electric Praxis hybrid system with an integrated energy management network. The yacht cruises at 9 knots with a reported fuel consumption of 3.5 liters per nautical mile, providing a range exceeding 7,000 nautical miles. Technical features include an ice-reinforced hull, DMS Magnus Master stabilizers, and a commercial-grade dynamic positioning system.The interior, designed by Arista Marine, follows an open-plan layout with the galley, helm, and salon located on the main deck. Finishes include pale timbers with dark contrast elements. The helm station is equipped with dual high-back chairs and a multi-display dashboard.Accommodation is provided for six guests in three en-suite staterooms, with a convertible salon that can accommodate two additional guests. The full-beam owner's cabin contains a king-sized berth and lounge seating.Exterior areas are configured for operational functionality, featuring a tender crane and storage on the aft main deck with L-shaped guest seating. The flybridge helm seats two persons, with dual stairways leading to the swim platform. All exterior spaces are designed for low maintenance and expedition readiness.Credits: Northrop & Johnson
September 23, 2025
Luca Dini Design & Architecture has entered into an agreement with Albania’s Ministry of Infrastructure and Energy to explore the development of a national maritime strategy. The initiative aims to position Albania as a sustainable yachting hub in the Mediterranean.The proposed strategy involves creating a network of interconnected marinas designed to share resources and infrastructure rather than compete. The approach intends to improve logistical efficiency, support regional economic growth, and reduce environmental impact. Albania’s geographic position near established yachting destinations such as Greece and Montenegro, along with its undeveloped coastline, is seen as a foundation for attracting seasonal boaters and superyachts.The project envisions the development of service facilities including repair yards, refit stations, and fueling areas to meet international standards and accommodate larger vessels. The plan emphasizes adopting sustainability principles in new marina construction and diversifying specializations across different locations to reduce congestion and environmental pressure. Intermodal transport connections with road and rail networks are also part of the proposed strategy to link coastal and inland regions.The concept aligns with European Union initiatives such as the Trans-European Transport Network (TEN-T), focusing on integration with continental trade and logistics systems. Luca Dini Design & Architecture will contribute expertise in architecture, yacht design, and master planning to the project. The firm indicated that the next 15 years represent a critical period for Albania to establish itself as a competitive maritime destination through coordinated planning.Credits: Luca Dini Design & Architecture
September 22, 2025
Camper & Nicholsons has listed the sailing yacht Imagine for sale at €17,800,000, with VAT paid. The 44.18-meter vessel is represented by Sales Advisor Maël Fiolet and was available for viewings at anchor during the Monaco Yacht Show, which opened on September 18.Built in 2010 by Alloy Yachts to a design by Ed Dubois, Imagine remains under its original ownership. The yacht was designed for worldwide cruising and has never been chartered. It complies with LY2 regulations and completed its Lloyd’s 15-year survey in 2025 alongside an extensive refit. In 2011, the yacht received the Best Sailing Yacht award at the World Superyacht Awards.The yacht accommodates nine guests in four cabins. The full-beam master suite is located aft and includes an en suite bathroom, walk-in wardrobe, study, and vanity area. Additional accommodation consists of one double guest cabin, one twin cabin with a Pullman berth, and a fourth cabin configured as a single with a Pullman. The main saloon sofa can convert into two additional bunks if required.The interior offers 242 square meters of living space finished with white oak joinery, Loro Piana fabrics, and alpaca carpets. The raised salon features panoramic windows and a split-level arrangement with a lounge area to port and a navigation station to starboard. Custom features include an automated sliding companionway door, opening portholes in the master suite, underfloor freezers, and a firearms safe for Arctic voyages.Deck areas include a forward cockpit with dining space and sunpads, a boom awning for shade, and a foredeck tender well that converts to a heated spa pool. A crow's nest is positioned on the mast for observation.The yacht is equipped with a 61.9-meter Southern Spars mast, carbon fiber rigging, and a furling boom. The sail plan includes 895 square meters of upwind sail area managed by captive winches built by Alloy Yachts. A lifting keel allows operation in both shallow waters and open ocean conditions. All sails have been upgraded over time, with a new North Sails jib installed in 2025.Power is provided by a single Caterpillar C18 engine. The yacht carries a diesel-powered tender, which eliminates the need for separate refueling arrangements. The vessel is maintained for serious cruising with systems designed for extended autonomous voyages.Credits: Alloy Yachts
September 22, 2025