Few events have ever affected yachting as much as the sinking of the 60 meter Yogi. The largest yacht to ever sink, its wreck strongly hit the Turkish shipbuilding sector and made owners take a hard look at their insurances and dangers, even though no one was hurt. Despite the accident, Yogi was no less of an exceptional yacht.
Yogi was the largest yacht ever built by up and coming Turkish shipyard, Proteksan Turquoise at the time of her delivery in 2011. Reminiscent of an explorer style yacht through her design by Jean Guy Verges, Yogi featured oversized portholes in her hull that brought in tons of flight into the yacht's cabins.
Built for Stephane Courbit, a French media and TV millionaire valued at €450 million, Yogi was built to be operated as a charter yacht part of its hotel collection. Maximizing space, the yacht had many amenities for her size including a swimming pool, beach club, wellness center and media room.
Yet, on February 17th 2012, just as the yacht was days out of leaving the yard where it was undergoing warrantied maintenance work, it sank in the Aegean sea. The weather was particularly difficult during that day and yet it seems to be an engine failure that, tied to a number of circumstantial events, led to the 60-meter yacht sinking to the bottom of the Mediterranean.
The report did, however, clear Proteksan in the quality of its build, focusing on what was a mixture of human oversight and extreme conditions. A Turkish investigations arrived at similar conclusions. Manned by a skeleton crew of 8 during this voyage, it took an hour to evacuate by helicopter the yacht's crew as seas at their peek featured waves of up to 7 meters.
Virtually new, the sinking of the 60-meter Yogi send shockwaves throughout the yachting space. In addition to engine issues that were believed to have triggered the chain of events that led to Yogi sinking, misuse of watertight doors may have been an issue according to the report. A fact worth noting is that the yacht took over five hours to sink into the Aegean Sea.
The largest yacht to have ever cruised with the French flag, Yogi was part of Courbit's Lov Collection, a holding company that includes the Les Airelles palace in Courchevel as well as the Pan Dei hotel in St Tropez. Built with charter in mind to its existing and new clientele, the yacht commanded prices of up to €378,000 per week and featured 800 square meter of interior space in a particularly luxurious interior.
A key element in Yogi's design was her large pool with overflow that sat aft of the yacht's main deck, directly on top of its beach club. In the middle of the pool was a glass porthole that flooded the area underneath with light. All around the pool were lounging pads for Yogi's guest to take in the sun when the yacht was anchored off in a bay.
To complement the swimming pool aft of the main deck, a Jacuzzi was also placed aft of the sundeck, for guests that wanted to enjoy the sun in a hot tub. Also surrounded by sunpads, these feature a common beige design throughout the yacht with colored pillows. Same can be said for the customizable lounging area aft of the upper deck.
On the inside, Yogi was reminiscent of Courbit's luxurious hotels. Featuring a beige and creme tone throughout the yacht, the 60-meter was fitted with floor to ceiling windows that visually increased the size of its 800 square meters of interior space. Its main salon was structured into a lounging area and a TV sector with a wide screen built into the wall.
Stretching across the full beam of the yacht, Yogi's master bedroom was no less spectacular with both lots of light and space. A king sized bed throned in the middle of the suite with access through a central corridor to a dressing room and his and hers bathrooms.
The yacht's guest accommodation didn't also pale in comparison with the owner's stateroom. Finished in the same style, the double and twin guest cabins could be connected or separated through double sliding doors. In total, Yogi could accommodate a total of 12 guests across 6 cabins.
Tall windows could be found throughout the yacht and were a real differentiating factor from competition on the market for Yogi. 'The idea was to have a yacht that could be chartered and run just like a resort.' detailed its designer, Jean Guy Verges in a later interview. 'She has been designed to the specific request of her owner. I think this jewel offered more than you would expect of a yacht her size.'
Another interesting amenity of Yogi was her observational lounge up on the sun deck. Finished throughout in glass, the area boasted a 180 degree view into the yacht's surroundings through a climate controlled environment. Equipped with custom furniture from the likes of Hermes, this media lounge separated the sun deck into a Jacuzzi and a raised dinning area.
Down on the upper deck, which also featured a covered dinning room, guests would find an extensive lounging pad with tiles that could be raised or flattened to create lounging chairs or sun beds. Connected to iPods and iPhones, which in 2011 was still rare, Yogi featured an advanced system for her time with TVs that slid out even in front of lounging pads.
Viewed by many as a step forward for the Turkish yacht building sector and as an endorsement of their quality, when Yogi sank, the whole country took a hit. By 2011, yacht owners and charters had started outgrowing the stigma of building in Turkey and the market was picking up for local builders. In fact Yogi was the largest yacht ever built by Proteksan.
Yogi's delivery was followed weeks after by their newest flagship, a 70.5-meter reminiscent of a Dutch-build quality, Talisman C. Shortly after it followed the 72-meter Vicky and it looked like Turkey would emerge as a yacht building destination. This all ended when Yogi sank in February 2012 and owners' stigma towards Turkey developed once again.
Although some Turkish shipyards continued to prosper, many faded down their ambitions in a global recession. This ultimately culminated with the acquisition of Proteksan Turquoise by Dutch-based Oceanco. Backed by billionaire investor Mohammed Al Barwani, the Dutch superyacht builder since set out on a mission to make the yard competitive and got an order for a 77-meter yacht now under build.
Having initially started his career in television in the 1990s, Stephane Courbit where he built a reputation, eventually starting his own production company behind hits such as Miss France. Eventually acquired by Dutch holding Endemol, Courbit exited from the company in 2001.
His LOV Group currently includes companies in the audiovisual space with several production companies behind some of France's most popular game shows. Other investments include several betting sites, which he started in acquiring in 2007. One of his fastest growing divisions has now becomes the Airelles collection of hotels.
After investing nearly $200 million into the purchase and renovation of the five star Courchevel palace, Les Airelles, Courbit acquired the Pan Dei Palace in St Tropez. His hotel portfolio then grew with the Bastide de Gordes in 2014. Two more Airelles hotels are set to open in the next two years, one in Versailles and one in Val d'Isiere.
At its Annual Members' Assembly on Thursday, December 12, the Italian Marine Industry Association presented forecasts and survey findings outlining upcoming market trends. The data, compiled by the Association’s Research Department, reflects responses collected from a broad sample of member companies.In 2023, the Italian yachting sector reported a turnover of €8.33 billion, marking an increase of €1 billion compared to 2022. This growth of 13.6% follows a previous 20% increase in 2022. A key factor driving the rise in turnover was the export of Italian-built yachts, which surpassed €4 billion in 2023 and climbed to €4.23 billion in the first four months of 2024.The industry’s export rate stands at 90%, reinforcing Italy’s role as a global leader in both the superyacht segment – responsible for more than half of worldwide orders – and in the production of large inflatable units, components, and equipment. The sector’s workforce also expanded, reaching 30,690 employees in 2023, about 7% more than in the previous year.Projections for 2024 indicate a normalization of growth in the yachting sector. Market dynamics are expected to diverge between high-end products and smaller vessels. According to the Association, “the outlook for the Italian yachting industry remains positive overall, despite complex external economic scenarios, due in no small amount to the substantial contribution of the superyacht segment.”Survey results highlight a differentiated situation within boatbuilding. Among companies in the superyacht segment, 75% anticipate a positive year-on-year close, while the remaining 25% expect stability. Order book performance suggests normalized growth rates, with about two thirds reporting a modest decrease in orders (ranging from -5% to -10%) and others indicating stable or slightly positive levels.In boatbuilding under 24 metres, the situation is more varied. About 60% of respondents forecast a contraction in turnover in 2024, with negative ranges spanning from -5% to over -30%. Stability is predicted by 18% of respondents, and 22% foresee growth. In 2025, sentiment appears more optimistic: the share of companies expecting growth remains at 22%, while only a third predict declines, and 45% anticipate stability.In the marine engine segment, 2024 outcomes vary. The survey shows an even split among those recording growth (5% to 20%), stability, or contraction (5% to 20%). For 2025, one third of respondents anticipate an increase in turnover, while two thirds expect stable conditions.Within the equipment and accessories sector, 39% of sampled companies foresee growth in 2024, 42% predict contraction, and the remainder stability. Looking ahead to 2025, 63% expect stable results, 23% anticipate contraction, and 14% foresee improvement.For nautical tourism businesses, 2024 appears positive. Approximately 63% predict turnover growth, 28% expect stability, and only 9% foresee a decline. The outlook for 2025 remains promising, with 55% forecasting continued growth, 39% stability, and 6% a possible contraction.These assessments, pending official figures to be released in the next edition of “La Nautica in Cifre LOG” at the 65th Genoa International Boat Show, suggest that 2024 may mark a stabilization of the yachting industry’s overall turnover. The strength of the superyacht sector helps offset recent difficulties in smaller segments. The forecasts for 2025 indicate a potential recovery, pointing to improved conditions as early as next spring.Credit: Italian Marine Industry Association
December 17, 2024
Heesen Yachts has announced the keel laying of Project Evita, a 57-meter all-aluminium yacht currently under construction at the company’s facility in Oss, Netherlands. The new vessel, featuring a shallow draft suitable for cruising the Bahamas, is designed to reach a top speed of 22 knots at half load.“To achieve such a high top speed, the yacht must be lightweight, so we are naturally building in aluminium – something that we here at Heesen have elevated into an art form over the years,” said Peter van der Zanden, General Manager of Design and Development at Heesen Yachts. “The vertical bow guarantees a long waterline length for maximum efficiency and speed potential, while the aft end is composed of complex sweeping curves. This yacht will be unmistakable when she enters a new harbour.”The exterior, designed by Omega Architects, includes an elongated profile and a distinctive scoop-shaped stern with sharp angles and dynamic lines. As the second vessel in Heesen’s new 57m Aluminum Class with FDHF, Project Evita has a volume of 780 GT.Inside, Harrison Eidsgaard’s interior design accommodates up to 12 guests in six staterooms. A central elevator connects all three decks. Amenities include a pool on the main deck aft and a transom lazarette for water toy storage.Project Evita is scheduled for delivery in the second quarter of 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.Credit: Heesen Yachts
December 17, 2024
Sea Ray has announced that it will present its first Europe-produced surf boat, the SDX 270 Surf, at the 56th Boot Düsseldorf international boat show, scheduled for 18–26 January 2025. The event will mark both the European premiere and the launch of European production for the model.The SDX 270 Surf was initially introduced in the United States in 2024. According to the company, the boat incorporates Sea Ray’s NextWave surf system, designed to produce customizable waves for various watersports. With electric surf tabs, active trim, and three ballast tanks totaling 1,900 pounds, users can adjust wave height and length to match their preferences. A bow thruster has been added to assist with maneuverability and docking.Brunswick-owned Sea Ray’s decision to expand production to Europe follows what the company has described as strong early retail performance, despite a challenging 2024 for the parent company. CEO David Foulkes noted in April that the brand’s new models contributed to market share gains at earlier boat shows.“We are excited to introduce the SDX 270 Surf to the European market,” says Keith Yunger, president of Sea Ray. “Our redesigned SDX line bridges the gap across generations bringing families together to enjoy a day on the water. The popularity of wake surfing continues to grow, and we are pleased to use the spotlight of Dusseldorf to highlight our entrance into surf boat production in Europe, and to showcase our exceptional 2025 Sea Ray lineup.”In addition to the SDX 270 Surf, Sea Ray will showcase its Sundancer cabin cruisers, including the Sundancer 370, 320, and 265. The Sundancer series will mark its 50th anniversary in 2025.Other models on display at the Sea Ray booth will include the SLX 400, SLX 500, SDX 290, SDX 270, SDX 250, SDX 250 Outboard, SLX 260, Sun Sport 250, Sun Sport 230, SPX 230, SPX 210, and SPX 190 Outboard.Credit: Sea Ray
December 17, 2024
Azimut has received three industry accolades in China, reflecting its focus on technological innovation, sustainable design, and luxury interiors. The honors include a Best of the Best Award 2024 from Robb Report China for the Seadeck 6, and two China Yacht Awards 2024 from Oceanway magazine for the Azimut Grande Trideck and the Azimut Grande 26M.Azimut Grande 26MSeadeck 6 Honored by Robb Report ChinaThe Seadeck 6 earned the Best of the Best Award 2024 from Robb Report China, with judges citing its approach to sustainable yacht design and operations. The vessel’s construction utilizes carbon fiber to reduce weight and features a streamlined hull aimed at lowering energy consumption. Seadeck 6A “Fun Island” concept was introduced, merging indoor and outdoor living spaces and enhancing the connection with the sea. In addition to the use of alternative, sustainable materials like cork and recycled fabrics, the Seadeck 6’s mild hybrid system allows zero-emission operation at anchor and reduces fuel use while cruising.Azimut Grande Trideck main saloonAzimut Grande Trideck and Grande 26M Recognized at China Yacht Awards 2024At the China Yacht Awards 2024, organized by Oceanway magazine, Azimut’s Grande Trideck was named Superyacht of the Year in the 30M to 40M category. Judges praised the yacht’s design, which adds a dedicated Sea View Terrace to the three traditional decks, creating a “+one” layout that enhances outdoor living and maximizes the vessel’s connection to the ocean environment.Seadeck 6 saloonThe Azimut Grande 26M received the award for Best Interior Design in the 24M to 30M category. The jury noted the yacht’s attention to interior layout and detail, featuring a main deck master cabin with full-height windows and a layout focused on comfort and natural light. The craftsmanship and choice of materials were also recognized as contributing to the yacht’s overall sense of refinement.Azimut Grande 26M saloonCommenting on these recognitions, Enrico Chiaussa, Azimut’s Chief Commercial Officer for EMEA-APAC, stated that the awards highlight the company’s commitment to innovation, sustainability, and careful craftsmanship across its product range.Azimut Grande Trideck Azimut, founded by Paolo Vitelli in 1969 and part of the Azimut|Benetti Group, offers owners around the world a wide range of motor yachts from 42 to 144 feet in length, organised in seven series (Verve, Atlantis, Magellano, Fly, S, Grande and Seadeck). The brand stands out for the spirit of innovation that puts it at the forefront of trends and solutions in technology and design recognised throughout the world of yachting.Credits: Azimut
December 16, 2024
Two long-established German shipyards, Flensburger Schiffbau-Gesellschaft (FSG) and Nobiskrug, have filed for insolvency amid ongoing financial difficulties faced by their parent company, Tennor Group, and its owner, Lars Windhorst.District courts in Flensburg and Neumünster have appointed lawyers Christoph Morgen of Brinkmann & Partner and Hendrik Gittermann of REIMER as provisional insolvency administrators. These filings follow months of instability and reported mismanagement, during which the shipyards struggled to meet operational costs and payroll obligations.On Monday, Schleswig-Holstein’s public utility provider threatened to cut off power at the Rendsburg facility after unpaid bills dating back to December 1. The shutdown was temporarily postponed because a federal police vessel remained at the yard for repairs.The financial collapse has affected around 500 employees at both facilities, leaving many uncertain about their future before the holiday season. Some have already lost their jobs. At a recent rally in Flensburg, workers’ union representatives claimed delayed salary payments, including outstanding November wages and Christmas bonuses. Jan Brandt, chairman of the Flensburg Works Council, accused Windhorst of repeated dishonesty and unkept promises regarding timely compensation.In recent months, workers, unions, and political figures have criticized Windhorst, citing poor management and lack of transparency. Schleswig-Holstein’s Economics Minister, Claus Ruhe Madsen, urged Windhorst to assume responsibility and consider selling the shipyards. With insolvency proceedings now underway, new investors may have the opportunity to restructure operations and stabilize the workforce.Tennor Group took over FSG in 2019 and rebranded it as “FSG 2.0,” but failed to secure the orders needed to ensure long-term viability. In 2021, FSG acquired Nobiskrug following the latter’s own insolvency proceedings, though this acquisition did not resolve ongoing financial problems. During summer 2024, the federal government withdrew a €62 million grant intended for LNG bunker ship construction at FSG, citing insufficient equity from Tennor.The provisional insolvency administrators are now working to resolve existing projects, including a RoRo ferry at FSG and a yacht at Nobiskrug. They may seek interim financing from federal and state governments until clients accept completed projects and provide payment. Insolvency pre-financing has been arranged to secure compensation for approximately 340 employees in Flensburg and 140 in Rendsburg through January 2025, covering overdue November salaries.Local officials and industry observers have suggested that FSG should pivot to manufacturing components for offshore wind energy projects to meet growing market demand. Others have recommended that Nobiskrug broaden its portfolio to include commercial vessels. With new ownership and strategic adjustments, the shipyards may still find opportunities to recover and rebuild their reputations in the maritime industry.German shipyard Nobiskrug was founded in 1905. Recognised today as one of the world’s foremost builders of spectacular fully custom superyachts, the shipyard is famous for the 92m Tatoosh, the award-winning 68m Sycara V, the 74m Mogambo, the 143m industry-changing Sailing Yacht A, and the environmentally innovative 80m Artefact.Credits: Nobiskrug
December 16, 2024