High performance catamaran builder Gunboat, which is located in Wanchese, North Carolina, has filed for Chapter 11 protection under the Federal Bankruptcy Code. For the past two years the company has been "quietly struggling", according to Gunboat founder and CEO Peter Johnstone, despite of the fact that its boats receiving high praise from sailors and the media. He blames a series of mistakes, disputes and adverse business conditions for the company's struggles.
"The Chinese built Gunboat 60 series cost Gunboat a fortune to sort out. The Chinese builder has fought its contractual obligations to manage, support, pay and reimburse for the completion, rework and warranty costs. Gunboat felt an obligation to its customers and spent millions out of pocket, which proved to be a huge strain on our resources, focus and productivity", says Johnstone.
He adds other problems including a G4 capsized during a regatta off St. Barth in April, which was captured in a viral video. Johnston states a G4 was involved in a recent collision with a photo boat during a magazine test in Annapolis, and that both incidents has led to a slow down in sales of the model.
The domino effect of so many problems during such a short period, Johnstone explains, forced him to seek Chapter 11 protection. But he is optimistic that the company can recover: "The operations have shown a nice turn-around in the past few months. Boats are being built, and we are meeting our plan for operating the business and recovering through the Chapter 11 process".
We wish Johnstone and his team the best of luck.
"The Chinese built Gunboat 60 series cost Gunboat a fortune to sort out. The Chinese builder has fought its contractual obligations to manage, support, pay and reimburse for the completion, rework and warranty costs. Gunboat felt an obligation to its customers and spent millions out of pocket, which proved to be a huge strain on our resources, focus and productivity", says Johnstone.
He adds other problems including a G4 capsized during a regatta off St. Barth in April, which was captured in a viral video. Johnston states a G4 was involved in a recent collision with a photo boat during a magazine test in Annapolis, and that both incidents has led to a slow down in sales of the model.
The domino effect of so many problems during such a short period, Johnstone explains, forced him to seek Chapter 11 protection. But he is optimistic that the company can recover: "The operations have shown a nice turn-around in the past few months. Boats are being built, and we are meeting our plan for operating the business and recovering through the Chapter 11 process".
We wish Johnstone and his team the best of luck.
Overmarine Group has launched the fifth hull in its Mangusta Oceano 50 series, a 50-meter displacement yacht measuring just below 500 GT. The vessel features exterior and interior design by Alberto Mancini in collaboration with the shipyard's technical department.The yacht's layout emphasizes indoor-outdoor connectivity through floor-to-ceiling windows and expansive glazing. Accommodation includes five cabins, with a full-beam master suite on the main deck featuring an automated balcony. The lower deck houses four guest cabins and a gymnasium.Outdoor amenities comprise three connected beach club terraces, two swimming pools (including a 6.5×2.6-meter pool with countercurrent system), and multiple lounge/dining areas across the decks. The sun deck infinity pool creates a visual connection with the horizon.Power comes from twin MTU 12V 2000 M86 engines (1,700hp each), delivering a 16-knot top speed and 4,500-nautical-mile range at 11 knots. Moran Yachts facilitated the sale of this fifth Oceano 50 unit.The launch follows four previous deliveries in the Oceano 50 series since its introduction. Overmarine Group was founded in 1985 by the Balducci family. The shipyard builds open and displacement power superyachts under the Mangusta and Mangusta Oceanco brand names. Credits: Overmarine Group
June 23, 2025
Horizon Yachts has completed construction of the 15th hull in its FD80 series, a 24.6-meter motoryacht that will make its European debut at both the Cannes Yachting Festival and Monaco Yacht Show in September. This marks the first FD80 model specifically configured for the European market.The yacht features design collaboration with Dutch designer Cor D. Rover, incorporating an open-plan interior layout with floor-to-ceiling windows. Interior finishes include bleached teak and brushed gunmetal detailing throughout the cabinetry. The owner has specified several custom features, including large-format televisions in both the main saloon and master suite.Accommodations are arranged for eight guests across four staterooms, with a full-beam master suite on the main deck and three additional guest cabins below. The crew area accommodates four staff with direct access to the beach club.Exterior spaces include multiple social areas, with a hot tub and teppanyaki grill on the bridge deck, along with flexible aft deck space that can serve as either a lounge or tender storage area. The foredeck features a dining setup with sunpads.Powered by twin MTU engines, the yacht incorporates Horizon's Skyline superstructure design and a fully enclosed wheelhouse. The FD80 will be available for viewings at both European boat shows before delivery to its owner. The Fast Displacement series represents a significant portion of Horizon Yachts' current production output.Founded in 1987, Horizon Yachts has celebrated 35 years as one of the largest luxury yacht builders in the world as well as the number one builder in the Asia Pacific region. In the past three decades, Horizon has delivered over 855 luxury yachts, with more than 220 of these over 80 feet in length. Popular models ranging from 52 to 150 feet include motor yachts, superyachts, power catamarans, expedition yachts, and fast displacement motor yachts.Credits: Horizon Yachts
June 23, 2025
Dutch submersible manufacturer U-Boat Worx celebrates its 20th anniversary in 2025, having delivered 60 submarines worldwide since its 2005 founding. The company specializes in private, scientific, and commercial underwater vehicles, with models ranging from personal submersibles to research vessels."Since inception, the company has logged tens of thousands of dive hours," stated Wilbert Beilsma, Commercial Director at U-Boat Worx. The manufacturer maintains service hubs in Curaçao, Europe, and the U.S., providing lifecycle support including pilot training and spare parts for all models.Technical innovations include full acrylic pressure domes and lithium-ion battery systems. U-Boat Worx offers multiple ownership options: full purchase, leasing, wet lease (with crew), and charter arrangements. The company's submersibles are compatible with superyacht platforms, with integration services available.Current operations span private exploration, marine research, and emerging defense applications. "We remain driven by the same spirit that launched our first submersible," said Marketing Director Roy Heijdra. The manufacturer continues developing new models while supporting its existing fleet of operational submarines.Founded in 2005, U-Boat Worx leads the global market in designing and manufacturing submersibles for private, research, and cruise industries. With over 60 operational units worldwide, the company prioritizes safety, performance, and comfort, continuously innovating underwater exploration technologies.Credits: U-Boat Worx
June 23, 2025
The newly delivered Benetti Oasis 34 motor yacht Y has entered the brokerage market with Mark Seaton of Yacht. The 34.4-meter vessel was delivered in May 2025 and remains under full shipyard warranty. Currently berthed at Benetti’s shipyard in Viareggio, Italy, the yacht is available for immediate delivery.Designed by RWD, the Oasis 34M series features a distinctive Oasis Deck with fold-down bulwarks, a glass-sided infinity pool, and a spacious beach club area. The yacht’s streamlined profile, extended overhangs, and open-plan layout reflect Benetti’s approach to indoor-outdoor living.The interior design, created by Bonetti/Kozerski Architecture of New York, combines warm greys and natural tones with contemporary elements. The accommodation includes five staterooms for up to 10 guests, with a full-beam owner’s suite on the main deck and four guest cabins below. The crew quarters can accommodate seven staff members.The 269 GT yacht is powered by twin 1,380hp MTU diesel engines, providing a top speed of 16 knots and a cruising speed of 14.5 knots. The vessel sails under the Marshall Islands flag. The asking price for the yacht is €17,500,000, excluding VAT. It represents the only Benetti Oasis 34M from 2025 currently available on the market worldwide. The vessel was built under the supervision of experienced owners and a leading maritime consultancy, ensuring high-quality construction and finishing.Credits: Yacht Harbour Archive
June 20, 2025
Athens-based design studio IPYD has revealed Aether, an 80-meter superyacht concept developed for Oceanco's Simply Custom platform. The design features triangular geometric motifs throughout its exterior, referencing concepts of balance and harmony from ancient Greek philosophy.Presented at the 2023 Fort Lauderdale International Boat Show, Aether joins Oceanco's portfolio of semi-custom concepts built on a standardized technical platform by Lateral Naval Architects. Initial renderings show a continuous exterior profile with an open-plan beach club featuring spa facilities and lounge areas.The Simply Custom range offers owners design flexibility while utilizing pre-engineered naval architecture. Aether follows previous concepts including Ani by Vallicelli Design and Dunes by the Touch Studio. Oceanco has not disclosed construction timelines or technical specifications for the Aetherconcept.Oceanco was founded in 1987. Right now it is a world-class builder of custom superyachts up to the 140 meters range. Oceanco works with world-known designers such as Terence Disdale, Nuvolari-Lenard, Espen Oeino, Sam Sorgiovanni, Igor Lobanov, Tim Heywood and Andrew Winch to create some of the timeless and award-winning yachts afloat today.Credits: IPYD
June 20, 2025