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.
MarineMax broker Scott Roberton has facilitated the sale of a new Ocean Alexander 28E explorer yacht to experienced owners transitioning from a Sanlorenzo SL86. The 28-meter vessel was selected for its operational efficiency and spacious layout featuring four staterooms and dedicated crew quarters."The 28E checked every box," stated Roberton. "It delivers true exploring capabilities while maintaining a refined, contemporary aesthetic that rivals any European builder." The owners specifically valued the model's 70-square-meter aft deck and on-deck master suite.Designed by Evan K. Marshall with a focus on volume and functionality, the 28E will operate seasonally between Newport, Rhode Island and Florida/Bahamas waters. The sale represents the owners' first acquisition from Ocean Alexander's Explorer series.Dan Mundy, Ocean Alexander's Head of Global Operations, noted: "The 28E exemplifies the innovation, volume, and versatility that define our Explorer series." The model's 90-ton displacement and 2,000-nautical-mile range address growing owner demand for capable coastal cruisers with superyacht amenities.MarineMax Newport's Frank Brennan assisted in the transaction. The yacht will enter private service following final commissioning. Ocean Alexander currently produces the 28E at its Kaohsiung, Taiwan facility with an estimated 12-month build timeline.Ocean Alexander is a family business. Two generations of one family have guided the shipyard for almost four decades. With manufacturing in Taiwan, Ocean Alexander is consistently one of the top selling brands for large yachts in the U.S. and currently produces models ranging from 26 to 36 meters in length. Credits: Ocean Alexander
June 13, 2025
The Italian Sea Group secured two awards at the 2025 International Yacht & Aviation Awards in Monte Carlo. The 66-meter Admiral JAS won in the "Motoryacht over 60 meters" category, while the 78-meter Admiral Platinum claimed victory in the "Motoryacht over 70 meters" division."We are proud that two of our most recent creations have received such prestigious recognition," said Gianmaria Costantino, CCO of The Italian Sea Group. "This highlights our commitment to excellence and innovation."The Admiral JAS, designed in collaboration with Mark Berryman, represents the semi-custom ADM 66 series with four units sold. Brad Whiteman of Qudra Yachts served as owner's representative during construction. The yacht features integrated indoor-outdoor spaces developed by MB Architects.The flagship Admiral Platinum, a full-custom project, features exterior design by Lobanov Design and interiors by Sinot Yacht Architecture & Design. Magnitude Yachts oversaw construction as owner's representatives.Both yachts were recognized for their construction quality and design execution. The awards ceremony took place June 6 at Hôtel de Paris, Monaco, during the 16th edition of the Design et Al competition.The Italian Sea Group currently operates production facilities in Marina di Carrara, with both awarded yachts delivered within the past 12 months. The company maintains active construction projects across its Admiral and Tecnomar brands.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
June 13, 2025
Ferretti Group has launched the 100th unit of its Riva Rivamare 38 model during a ceremony in Sarnico attended by Chairman Jiang Kui and representatives of majority shareholder Weichai. The event precedes the unveiling of a special limited series scheduled for June 27.The 11.6-meter Rivamare remains one of Riva's most successful models since its introduction. The milestone launch coincides with Ferretti Group reporting a record order book of €1.7 billion for early 2025."This magnificent day celebrates the huge success for Riva and Ferretti Group as a whole," said Jiang Kui. "We are confident that Ferretti will maintain this sustainable growth and continue to create value for all stakeholders."Ferretti Group CEO Alberto Galassi noted the company's upcoming product launches: "At the end of the month, we will unveil three new Riva models, confirming our drive to strengthen leadership in beauty and innovation." The Rivamare's continued production demonstrates Riva's ability to maintain demand for classic designs while introducing new models.The ceremony recognized the Sarnico shipyard workforce responsible for building all 100 Rivamare units. The model's success contributes to Ferretti Group's portfolio of seven yacht brands, which collectively delivered 49 vessels in 2024.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
June 13, 2025
Northrop & Johnson has announced the launch of Ocean Angel, the second 40-meter explorer yacht in Ocean King's DOGE 400 series. The vessel has commenced sea trials and is scheduled for delivery ahead of its debut at the 2025 Monaco Yacht Show.Designed by aLOT with interiors by Burdissocapponi Yachts & Design, Ocean Angel features a commercial-grade steel hull and aluminum superstructure. The yacht is powered by twin Caterpillar engines that deliver a top speed of 15 knots and a cruising speed of 13 knots, with a transoceanic range of 4,000 nautical miles.Accommodation includes five guest suites for 10 passengers and crew quarters for seven. Notable features include a beach club with sauna and hammam, a concealed 1.2-ton telescopic tender crane capable of launching a 6.25-meter tender, and fold-down sea terraces. The interior design emphasizes natural light through full-height windows and seamless indoor-outdoor connectivity."Ocean Angel demonstrates our commitment to building capable explorer yachts with customized interiors," said an Ocean King representative. The yacht's commercial-grade construction enables extended autonomous operation in remote cruising areas.Following sea trials, the yacht will undergo final outfitting before delivery to its owner. The first DOGE 400 series yacht was delivered earlier this year, with both units sharing the same rugged exploration capabilities paired with refined interior spaces.Credits: Northrop & Johnson
June 11, 2025
The Amels 60 Memories has departed from Damen Yachting’s main build facility in Vlissingen following its final delivery to the new Owner. The yacht was officially named during a private ceremony held at the Dutch shipyard, attended by the Owner’s team and crew.The exterior design of Memories was created by Espen Øino International, featuring the signature geometric windows and enhancements typical of recent Amels deliveries. Notably, Memories is the first Amels 60 to feature custom interiors by Harrison Eidsgaard, marking a new collaboration for the shipyard.The Owner, introduced by Moran Yacht & Ship, joined the project just six months prior to delivery. Despite the late entry, the Owner was able to implement several customizations, including modifications to the Beach Club, Owner’s areas, and Sun Deck, where a large sofa with a ceiling-mounted TV replaced the original dining table and bar. The Bridge Deck Aft was transformed into an on-deck cinema setup from its original lounge configuration.Joppe Osté, Project Manager for Amels 60 Memories, commented: “When the Owner stepped in, we were already at an advanced stage of construction. The advantage of this was that the new Owner was able to make decisions quickly and take possession of it before the start of summer. Until the buyer steps in, we design the yacht for all potential clients. The sales, design, and proposal teams are all involved. That is a major advantage. The custom interiors by Harrison Eidsgaard appealed to her new Owner, which allowed us to stay on schedule and move forward according plan.”The interior design by Harrison Eidsgaard features a contemporary beach house luxury style with natural materials and refined detailing. A notable feature is the spiral staircase with illuminated handrail. Ben Harrison of Harrison Eidsgaard stated: “It has been an absolute delight working on this superyacht and a great collaboration with all partners involved. MEMORIES is our first Amels Limited Editions interior and brings a new look and feel to this successful 60-metre design.”Memories is expected to follow a busy charter schedule, with private use by the Owner also anticipated. The yacht will be available for charter through Moran Yacht & Ship, with its first destination being Ibiza.The next Amels 60 is already under construction and scheduled for delivery in Autumn 2025.The Amels 60 Memories features the following specifications: length of 60 metres, gross tonnage of 853 GT, accommodation for 12 guests and 12 crew plus Captain. The yacht boasts interior design by Harrison Eidsgaard, exterior design by Espen Øino International, and naval architecture by Damen Yachting.Credit: Damen Yachting
June 11, 2025