Admiral has announced the keel laying of the new Admiral Galileo 82 meters mega yacht. The sale of this motor yacht, completed in December 2021 through the US broker FGI Yachts, marked The Italian Sea Group’s official entrance in the US market for large yachts, consolidating the Group’s position as a reference global player in the sector.
The expansion of The Italian Sea Group’s commercial presence in the States has continued with the opening of the first flagship store in East Hampton – Long Island and with the inauguration, in September, of the first After Sales point in Miami, Florida, at the time of delivery of the first Tecnomar for Lamborghini 63 in the US.
The new Admiral Galileo mega yacht, in steel and aluminum, has been designed by The Italian Sea Group’s own Centro Stile in collaboration with Bannenberg Rowell Design, who curated the interior design.
Exteriors are characterized by elegant and sinuous lines, big spaces on four decks and large windows. She can accommodate 12 guests and 28 crew members on board. A 130 sq. m upper deck entirely dedicated to the owner’s cabin. She also features the living rooms for over 100 sq. m on each deck, a waterfall linking two of the four pools on board, one of which is 7.5x3.5 meters long, one underwater cinema lounge and a beach area with gym, spa, and massage room.
Another unique element of innovation is represented by the long glass corridor which goes through the engine room, making it an integral part of the environment and enhancing its engineering beauty, as well as connecting the spa area with the upper deck foyer.
“The keel laying ceremony is always a special moment in the construction of a yacht, especially for a custom-made project of such dimensions and such innovative characteristics, both from an aesthetic and an engineering point of view,” commented Giovanni Costantino, Founder & CEO of The Italian Sea Group.
The delivery of the new Admiral Galileo is scheduled for July 2025.
Admiral Yachts – flagship brand of The Italian Sea Group, global operator of the international nautical industry, specialized in the construction of yachts and ships up to 100 meters. Present in the yacht market, Admiral has launched 147 yachts over the years. Since 1966 The Italian Sea Group has launched over 583 yachts.
Credits: The Italian Sea Group
At the Dubai International Boat Show, Majesty Yachts, part of Gulf Craft, announced the sale of the first unit in its 44.2-meter Majesty 145 series. The news was shared during a press conference led by Gulf Craft chairman Mohammed Hussein Alshaali.The Majesty 145 stands as a mid-range offering within the lineup, positioned between the 32.3-meter Majesty 100 Terrace and the 54.4-meter Majesty 175. Interior design by renowned Italian studio Cristiano Gatto Design features a neutral color scheme complemented by warm lighting and navy blue accents. The studio, known for its work on Gulf Craft's flagship Serenity MRF, brings a refined aesthetic to the vessel.While specific details remain limited, renderings showcase notable amenities such as dual dip pools located on the main deck aft and sundeck, along with an upper deck al fresco dining area and a lounge designed for panoramic ocean views.Chairman Alshaali highlighted the significance of the sale, stating it reflects client confidence in Gulf Craft's design and engineering capabilities. He expressed enthusiasm for the upcoming launch, emphasizing the brand's commitment to setting new standards in the yachting sector.The first Majesty 145 is scheduled for launch in spring 2026.Since the company’s inception in 1982, Gulf Craft has grown to become one of the top seven shipyards in the world: once a builder of small fishing boats in its modest premises, which was a genuine passion for Gulf Craft, they then established their credentials as a leader of innovation and technology in the yachting industry. With five brands in their product portfolio ranging from 31 to 175 feet, Gulf Craft manufactures yachts and boats that appeal to a wide audience, such as touring passenger vessels, Silvercraft family day boats, Oryx Sport Cruisers, Nomad Explorer Yachts, and the flagship Majesty Yachts.Credits: Gulf Craft
February 28, 2025
The Board of Directors of Ferretti S.p.A. has approved the consolidated preliminary financial results for the fiscal year ending 31 December 2024. Key highlights include:Order Backlog: Reached an all-time high of €1.7 billion, marking a 25.5% increase compared to September 2024 and an 11.6% rise over December 2023.Revenue Growth: Net revenue from new yachts increased by 5.6% to €1,173.3 million compared to 2023.Profitability: Achieved an adjusted EBITDA margin of 16.2%, exceeding expectations and showing strong operational efficiency.Net Profit: Rose by 5.6% to €88.2 million compared to the previous year.Board Changes: The company appointed two new directors – Tan Ning and Hao Qinggui – and restructured its committees.Alberto Galassi, CEO of Ferretti Group, expressed optimism about these results, attributing them to the company's innovative strategies, commitment to quality, and customer trust. He emphasized the group's focus on expanding globally, investing in technology, and enhancing products to reinforce their market leadership.These figures demonstrate Ferretti Group's robust financial health and continued success in the luxury yacht industry.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
February 28, 2025
Feadship announces the completion of Project 714, a 79.95-meter yacht destined to become a significant addition to its fleet. Having left the construction shed at the Aalsmeer facility, the vessel is now undergoing final outfitting and preparation for sea trials.Designed by RWD, Project 714 boasts an exterior characterized by sculpted curves and a striking blue hull, reflecting the pinnacle of sophistication and style. Feadship’s renowned attention to detail is evident throughout, ensuring that both aesthetics and performance meet the highest standards.Naval architecture by Feadship De Voogt Naval Architects plays a crucial role in delivering optimal performance, while the yacht also incorporates cutting-edge technology through the FEAD (Feadship Advanced Electrical Drive) program. Featuring a diesel-electric hybrid propulsion system, Project 714 benefits from increased electrical storage capacity, surpassing previous iterations like the Savannah. Two contra-rotating thrusters replace conventional drive shafts and rudders, minimizing drag and improving efficiency.Computational Fluid Dynamics (CFD) analysis informed the design of the pods and propellers, resulting in reduced vibration and enhanced comfort. This approach underscores Feadship’s commitment to innovation and sustainability, reinforcing its leadership in the superyacht industry.Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Feadship
February 28, 2025
The 35.4-meter Benetti Mediterraneo 116 motor yacht Bella Vita, built in 2020, has been freshly listed for sale by Sean Doyle, Wes Sanford, and Ed Dickinson of Northrop & Johnson. Designed by Giorgio M. Cassetta with naval architecture by Benetti, Bella Vita is the eighth of ten yachts in the Mediterraneo 116 series.Owned continuously since new, the yacht was commissioned by experienced charter guests who sought to customize every space for entertainment purposes. Built to MCA compliance and recently surveyed, Bella Vita offers accommodation for 10 guests in five cabins, including an owner's suite, two VIP cabins, and two twin cabins, all en suite. The crew quarters accommodate eight individuals, including a captain's cabin and three additional cabins on the lower deck.Interiors are described as minimalist and bright, featuring oversized windows, a neutral color palette, rich wood finishes, and bold color accents. The main saloon includes a seating area with a fold-away TV and a formal dining area for ten, while large glass doors lead to a wide aft deck with a sofa and tables for relaxed dining or coffee. An outdoor dining area is located aft of the sky lounge.Outdoor living is emphasized in the design, with an expansive 80-square-meter sundeck ideal for sunbathing, socializing, and alfresco dining. The foredeck features a hot tub and additional sunpads. An impressive swim platform doubles as a launching point for watersports, accompanied by a spacious beach club with a garage housing a Williams tender, Jet Skis, and dive equipment. Equipped with an Atlas crane and gym facilities, the yacht is prepared for active leisure pursuits.Cruising at a comfortable 14 knots with a range of 3,200 nautical miles, Bella Vita reaches a top speed of 15 knots due to twin MAN 2,800hp engines. She is offered for €11,200,000.Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. Benetti designs, builds and sells composite vessels from 29 to 44m and steel and aluminum boats from 37 to over 100m. The fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom to meet all the needs of the market. Benetti belongs to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.Credits: Northrop & Johnson
February 28, 2025
MB92 Group, a leading superyacht refit specialist, is significantly expanding its Mediterranean presence with a multi-million euro investment in its newly acquired Golfe-Juan shipyard. Located on the French Riviera, approximately 70 nautical miles east of La Ciotat, the facility is now operational, providing refit, maintenance, and repair services for yachts up to 43 meters. The move aims to enhance MB92's refit capacity in the Mediterranean and meet the growing demands of the superyacht industry.The investment, totaling €5 million, will be focused on modernizing the Golfe-Juan facility. Plans include building renovations, restoration of hard-standing areas, and the implementation of advanced pollution-prevention infrastructure. This follows the recent certification of the shipyard's new 240-tonne travel lift, which enables MB92 Golfe-Juan to accommodate up to 16 yachts of up to 43 meters simultaneously.Rob Papworth, Managing Director of MB92 La Ciotat, expressed confidence in replicating the success of their La Ciotat operations at the new Golfe-Juan location. "Our experience with the 300t Origins platform in La Ciotat has proven the value of a flexible, client-focused approach, and I am confident we can replicate the same success in Golfe-Juan," Papworth stated . He further emphasized that clients will benefit from MB92 Group's substantial investment in the site, access to their extensive network of global and local providers, and project support from the La Ciotat team.Philippe Escousse, a former skipper with extensive yacht refit experience, has been appointed as the site manager to oversee the transformation. His responsibilities include integrating MB92's operational efficiencies while ensuring continuity for existing clients. He will be supported by a team of over 15 professionals from the previous shipyard.MB92 Golfe-Juan specializes in a comprehensive range of services, including mechanical and electrical engineering, painting, carpentry, and full rebuilds . Situated between Cannes and Antibes, the shipyard is strategically positioned to serve the yachting community along the French Riviera.The launch of MB92 Golfe-Juan coincides with a comprehensive redevelopment of the Camille-Rayon port, led by D-Marin. This initiative aims to transform the port into a high-performance service hub, meeting the demands of clients for both superior infrastructure and environmentally responsible practices.Corinne Reynaud, Global Chief Financial Officer at D-Marin and President of D-Marin France, highlighted the significance of this collaboration: "As we continue to enhance the capabilities of the Camille-Rayon port, the opening of MB92 Golfe-Juan marks an exciting new chapter in our commitment to delivering exceptional infrastructure and services."For 25 years the MB92 Group comprises the refit and repair shipyards MB92 Barcelona and MB92 La Ciota. Both sites offer unrivalled facilities and employ a workforce of over 300 in-house professionals. In 2019, MB92 was acquired by Squircle Capital, a European alternative investment firm focused on private equity and real estate value-add investments. Credits: MB92 Group
February 27, 2025