The 91.5-metre Oceanco superyacht Tranquility has been listed for sale via Camper & Nicholsons, who has been responsible for her charter management. The superyacht was acquired for $126,000,000 by Genting Malaysia Bhd in April 2019, as a result of corruption scandal linked to Jho Low.
The long running saga around the yacht dates back to August 2018, when the Indonesian authorities seized Low Taek Jho’s superyacht at the request of the US Department of Justice, and transferred her to Malaysia. It is alleged, that the yacht was originally purchased by Low Taek Jho using money embezzled from the 1MDB state fund.
Shortly afterwards, Tranquility was put on sale as a part of the effort to recover funds stolen by Low and his cohorts from the state fund, according to The Independent. In the meantime, the vessel’s maintenance had cost the government over $3,500,000 since her reclaiming in August 2018.
After several rounds of sale process, the highest bid was received from Genting Group, a Malaysia-based investment holding and management company, engaged in the leisure and hospitality, oil palm plantations and property development. The group’s market capital meanwhile is estimated at $8.3 billion by Forbes, as of June 2018. The bid, however, halved the vessel’s original price estimated at $250,000,000.
Built in 2014, Tranquility was the first superyacht designed and built to be fully Passenger Yacht Code (PYC) compliant. Thus, she can accommodate up to 26 guests on-board across 9 cabins and owner's suite, along with 28 crew members. The yacht is also trademarked with extensive spa area on the lower deck, plunge pools and customised interior.
Across her five decks, Tranquility features several pools, massage areas, saunas, experiential showers, hammams, Jacuzzis and a gym all designed with the most precious of materials, it directly connects to a beach club from which guests can swim out into the ocean.
Tranquility also comes complete with two custom-designed, 10-meter Hodgdon tenders to ferry around her guests in style. The yacht can cruise for up to 5,000 nautical miles at a speed of 15 knots, with her top speed reached at 20 knots.
Price of the superyacht is available upon request. According to Bloomberg, however, her price tag has been increased to $200 million, which is neraly 60 % more then the owning company has paid. Meanwhile, she also remains on charter market, while in summer 2019, the youngest self-made billionaire ever Kylie Jenner celebrated her 22nd birthday on-board Tranquility.
Over the span of August to early October, Custom Line celebrated the launch of four bespoke yachts, ranging in length from 30 to 42 meters, at the Ferretti Group Superyacht Yard.The festivities commenced on August 1, with the launch of the 32nd hull in the Custom Line Navetta 33 displacement series, attended by the owner’s family from the AMAS region, shipyard workers, and external contractors. This 33-meter yacht, showcasing unmatched refinement and timeless design, boasts a beam of 7.52 meters. The creation of the Custom Line Navetta 33 was a collaborative effort between the Strategic Product Committee, overseeing exterior styling, and the Ferretti Group Engineering Department, responsible for the interior aesthetics, with contributions from the Custom Line Atelier. Tailored to reflect the unique style of its seasoned owner, the yacht features a significant focus on social spaces, furnished with expansive custom dining and coffee tables that can accommodate up to 10 guests. The interiors, characterized by an elegant simplicity, utilize a palette of softer tones – white, gray, and bronze – contrasted by darker shades such as deep brown and lava gray, all complemented by luxurious materials including Taj Mahal and Essential Grey marble, Canadian maple wood, and fine leather.On September 10, the twenty-first Custom Line Navetta 30 made its debut. This 28.43-meter yacht, designed through a partnership between the Strategic Product Department and the Ferretti Group Engineering Department, features interior architecture by ACPV ARCHITECTS Alberto Citterio Patricia Viel and exterior styling by Filippo Salvetti. It emphasizes spaciousness across three decks, fostering communal and relaxing experiences. With generous glass surfaces and a sleek silhouette, the yacht emphasizes performance with improved fuel efficiency. Its interiors blend classic and modern aesthetics, marked by refined carbon accents and exclusive lacquering, while bespoke furnishings crafted from fine materials exude a sporty yet chic elegance.September 25 marked the launch of the fifth unit of the Custom Line 140’ flagship planing line. This yacht, the result of collaborative design efforts, highlights a seamless integration of indoor and outdoor spaces, drawing inspiration from residential architecture to create a refined ‘Made in Italy’ style. High-quality materials like Invisible Grey and polished Azul Cielo marbles merge harmoniously with features inspired by the natural world, such as the soft textures and colors found in the sea. The sophisticated interplay of muted and vibrant hues enriches the yacht’s aesthetic, while metallic finishes and unique fabrics elevate its contemporary elegance.Lastly, on October 10, the twenty-third unit of the Custom Line 106’ planing line was unveiled. Spanning 32.82 meters with a 7.4-meter beam, this yacht embodies a perfect blend of aesthetics and comfort, with an emphasis on natural light and fluid space transitions. Designed by the Ferretti Group Engineering Department and the Custom Line Atelier, it showcases a chic design with warm, inviting interiors highlighted by ribbed walnut panels and luxurious marbles such as Travertino bronze. Subtle color variations enhance the yacht's sophisticated atmosphere, making it a remarkable addition to Custom Line's fleet.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.Credit: Ferretti Group
November 7, 2024
Strong client demand drives the introduction of high-performance sports yachts, culminating in the launch of the Palm Beach GT70 as the new flagship of the GT series.The hallmark of a successful yacht design lies in its ability to deliver outstanding performance, irrespective of the propulsion system employed. When the foundational elements are meticulously executed, yachts can achieve optimal performance and efficiency, providing a smooth and reliable ride whether outfitted with straight shafts, pod drives, jet drives, or outboards. Palm Beach Motor Yachts exemplifies this principle with its tailored performance motor yachts, redefining what it means to own a true powerboat on the water.Beyond mere performance, Palm Beach Motor Yachts offers enhanced handling and stability – even in challenging sea conditions – supported by glowing testimonials from satisfied owners worldwide. While other vessels remain docked during inclement weather, Palm Beach owners can navigate to their destinations safely and comfortably, regardless of the conditions.At the forefront of this new era of offshore powerboats is the GT RS Series, which now proudly includes the newly launched GT70 RS, alongside the GT50 RS and GT60 RS.A boatbuilding business was launched by Mark Richards in 1995. Today, the company builds a variety of models, including their Classic Series, comprised of the 42, 45, 50, 52, 55, 65, and 70, and the sporty GT Series, which includes the GT50 and GT60. Credits: Palm Beach Motor Yachts
November 7, 2024
In a decisive move, The Italian Sea Group S.P.A. (TISG) has announced that it will be pursuing legal action against The New York Times following an article published on October 31, 2024. The company claims that the piece contained serious inaccuracies regarding the sinking of its yacht, the Bayesian, which has tarnished the reputation of the renowned Perini Navi brand, known for its excellence in luxury yachting.In its statement, TISG asserted that the article lacked technical accuracy and failed to credit qualified sources for its claims. The company emphasized that it acquired the Perini Navi brand and related assets in January 2021 and thus cannot be held accountable for events prior to that acquisition.Addressing specific claims made in the article:Sloop vs. Ketch Stability: TISG refuted allegations relating to the stability of the single-mast design, asserting that the Bayesian fully complies with stability standards set by the Maritime Coastguard Agency.Expert Opinions: The company questioned the validity of unnamed experts cited in the article, insisting that the Bayesian’s design was developed by esteemed naval architect Ron Holland, thereby ensuring a reliable design.Watertight Doors: TISG clarified that the watertight doors mentioned in the article meet regulatory requirements and can only allow water ingress under improper operation.Responsibility for Vulnerabilities: TISG stated that any alleged vulnerabilities reported were likely the result of operational errors rather than design flaws.Ballast Considerations: The company defended the design of the ballast system, asserting that it was strategically placed to balance the yacht without compromising safety.Deck Design: TISG contested claims regarding the deck design affecting buoyancy, stating that such factors are regulated and do not violate safety standards.Regulatory Compliance: The company highlighted that the Bayesian's stability booklet has received MCA approval, confirming compliance with international standards.Wind Conditions During Incident: TISG provided further technical data, asserting that anticipated heeling angles during adverse weather do not support claims of inherent design flaws.In summary, TISG declared that the Bayesian is unsinkable when operated under proper sailing conditions and expressed confidence that ongoing investigations will clarify the circumstances of the incident.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; Yacht Harbour archive
November 7, 2024
Turkish yard Bering Yachts has released details on its new 32.2-meter explorer model, the Bering 105. The yacht is designed for extended cruising and charter operations, building on the platform introduced with the 26.6-meter Bering 88, whose first unit recently completed sea trials.The Bering 105 features the same beam of 8.2 meters as its smaller sister, with accommodation for 10 guests and seven crew. The additional six metres translate into roomier interiors and exteriors, including a spacious swim platform and beach club, along with an optional swimming pool on the main deck aft.Guest cabins are located on the lower deck alongside the crew quarters and captain’s cabin, while the master suite is positioned on the main deck towards the bow. The master suite is equipped with windows port and starboard, a desk space, and a his and hers en suite. The upper deck skylounge can be converted into a suite if preferred, with a separate lounge area and private access to the upper deck aft, which stores a 5.2-meter tender and other water toys while underway.On the main deck, there is the main saloon, a formal dining area for ten guests, and a sit-up bar. A projector and large screen convert the space into a home theatre when required, while the screen between the salon and the galley can be removed to create a semi-open kitchen concept.The beach club can be configured as a gym, sauna, or additional storage space. The flybridge features a wet bar, open galley, and sofa seating aft, shaded under the hardtop, with sunloungers forward. An additional lounge space is positioned on the bow, complete with a coffee table and twinned sofas.The model can be powered by a hybrid propulsion system for a maximum speed of 14 knots and a range of 4,000 nautical miles.Bering Yachts designs and builds semi-custom, steel-hulled expedition yachts and luxury trawler yachts ranging in size from 20m to 45m. Bering Yachts employ over 200 skilled craftsmen in our modern shipbuilding facility in Antalya, Turkey. Credits: Bering Yachts
November 6, 2024
Designed for off-the-beaten-track exploration, Burgess has announced its appointment as Central Agent for Hemisphere, available for sale at EUR 46,000,000.Built in 2011 by Pendennis and refitted in 2023, Hemisphere is the largest sailing catamaran in the world, measuring 44.2m in length. Designed for adventurous exploration and providing unforgettable experiences, her twin hulls offer exceptional stability, making her the perfect family charter yacht.With a beam of 16.6m, Hemisphere boasts vast deck spaces ideal for outdoor living. From the flybridge hot tub and al fresco dining areas to shaded spaces on the main deck aft and the sunbathing trampoline forward, Hemisphere offers everything you need for relaxation and entertainment.The award-winning interiors are both refined and welcoming, accommodating up to 12 guests across five luxurious cabins. Two VIP cabins are located on the main deck, each with access to a terrace lounge forward, while the remaining cabins – two doubles and one twin – are below.Hemisphere features an aluminium hull and aluminium superstructure. Powered by twin Caterpillar engines, she cruises comfortably at 11 knots and reaches a maximum speed of 13 knots. She also operates in tandem with her 16.4m custom-built F&S Sport Fishing tender TT Hemisphere (also available for purchase).Hemisphere is currently located in Tahiti, French Polynesia.Credits: Yacht Harbour archive
November 6, 2024