Dutch builder Moonen Yachts has declared it has entered into a new ownership, just a month after filing for bankruptcy protection with the Dutch court.
The new owners of the yard are an Australian couple, Matthew and Louise Baxter. Matthew, of Scottish origin, is a successful Australian businessman and entrepreneur, who in 1972 established the A M Group, a privately owned worldwide group of manufacturing companies of which he is executive chairman.
For several years, Moonen Shipyards was entirely owned by Mexico’s largest steel manufacturer Altos Hornos de México (AHMSA). During that period several yachts were delivered and business ran well at Moonen, thanks to the financial support of AHMSA.
The situation changed last May, when Mr. Ancira, the chairman of AMHSA, was arrested on the Spanish island of Mallorca, accused of bribery. Consequentially, AHMSA’s bank accounts got frozen, including the one from Moonen. Some of the accounts were unfrozen after a while, but the money tap for the shipyard remained closed. The lack of financial support to pay wages and settle the required payments on the building of Project YN199 on speculation, led Moonen to declare bankruptcy.
The setuation with AMSHA reflected in substantial financial instability of the yard in the past. When in 2015 the steel prices dropped dramatically, Moonen was filed for suspension of payment for a longer period of time. To avoid such an insecure period again, the management of Moonen was already looking for a new investor.
In fact, the investor has been found and conversations were at an advanced stage in order to proceed a normal takeover of the shares. Due to the arrest of Mr. Ancira and the loss of cash flow, it was necessary to speed up the process with the intended shareholder, and try to avoid a bankruptcy. However, there was hardly any communication possible with the shareholder and finally Moonen Shipyards was no longer able to meet its obligations towards personnel and suppliers thus bankruptcy followed on the 11th of July.
Still, the bankruptcy has cleared the road for the new Moonen in a way, as the proposed investor shared his wish to fully disconnect from AHMSA after the situation occurred last May. What the bankruptsy has relieved the new stakeholders of the responsibility to pay off Moonen’s debts.
Louise and Matthew Baxter first discovered Moonen Yachts whilst sailing on Pittwater harbour in Sydney where they came across Moonen 84 Aurora. That lead to their involvement with Moonen.
Mr Baxter, who also remains executive chairman of the A M Group, said:
It is a privilege to own a yard like Moonen. The brand has an impeccable pedigree, the yachts are true Dutch quality and the team is young, reliable, talented and very loyal to the company. These characteristics are fundamental for success.
The shipyard is very honoured and excited with Mr & Mrs. Baxter as their new owners. Moonen’s CEO Johan Dubbelman highlights:
We have trust in these new investors and have faith that they will establish a strong future for Moonen Yachts. The 30 to 50 metre market is solid for well-built designs, and our plans are to increase production. Currently we have one, award winning, 36-metre Martinique in build, she’s 50% ready. The focus is to have her on display at the Monaco Yacht Show 2020.
The company aims at scaling up production efficiently and starting two new build projects in the upcoming 6 months, he said.
Following on with the current build we will start a second 36 metre and a 44 metre, both new and future proof timeless Moonen yachts with interiors designed by the award winning renowned design houses, like Studio Indigo. By building on speculation, delivery times will be shorter and customisation still possible, which is an absolute advantage for our future clients.
The yard reports, the majority of the staff and workforce have been reappointed and are enthusiastic to be part of a strong new leadership. To assure continuous high-end quality, Moonen Yachts is going to reinforce the cooperation with long-term strategic partners and subcontractors.
Italian shipyard Baglietto has delivered the 43.7-meter motor yacht Speedy Bear, a custom Fast44 model designed by Francesco Paszkowski Design with interior collaboration from Margherita Casprini. The aluminum-hulled vessel follows the design lineage of Baglietto's fast yachts, including the 46M Lucky Me. Speedy Bear accommodates 10 guests across five cabins: a main-deck master suite forward of the saloon, two VIP doubles, and two convertible singles with additional berths. Stern fold-down balconies create expanded sunbathing space around the pool, while the garage door converts to a swim platform extending the beach club area.Powered by twin MTU engines, the yacht reaches a cruising speed of 23 knots and maximum speed of 27 knots. Baglietto's CCO Fabio Ermetto stated: "This is indeed a custom project that exudes classical beauty while also featuring innovative solutions. Speedy Bear reminds me of several historical and yet revolutionary vessels built by Baglietto – which marked the history of yachting – while also being a brand-new, one-of-a-kind project, faithful to Baglietto's DNA."Baglietto Spa is an Italian boat builder based in La Spezia specializing in new aluminum light alloy yachts ranging between 35m and 50m in length and steel and light aluminum alloy displacement megayachts starting at 40m.Credits: Baglietto
April 21, 2025
The 53-meter sailing yacht Drumbeat is now available for charter in the West Mediterranean for summer 2025 through Camper & Nicholsons, with weekly rates starting at EUR210,000. Built by Alloy Yachts in 2002 and refitted in 2019, the Dubois Naval Architects-designed ketch combines performance sailing credentials with luxury accommodations.Drumbeat accommodates 10 guests in five cabins, including a full-beam master suite featuring panoramic views, a lounge area, and hot tub. The 2019 interior refurbishment incorporated warm wood tones, contemporary art, and refined textiles. The yacht's sailing pedigree includes winning the Rolex Transatlantic Challenge. Current features include a transformable transom swim platform, spacious aft deck lounge with alfresco dining, and shaded relaxation areas. A 10-person professional crew maintains a 1:1 crew-to-guest ratio.Technical specifications confirm the vessel's 53-meter length and ketch rig configuration. Credits: Camper & Nicholsons
April 21, 2025
Italian design firm Bassan&Benedetti has introduced Altrove, a 90-meter explorer yacht concept designed for scientific research and luxury expeditions. The vessel combines advanced technology with guest amenities while maintaining operational capabilities in extreme conditions.Altrove features a fully equipped wet and dry laboratory for four scientists or guides, supporting 18-person expeditions. Its 4,990 GT interior includes a 60 sqm owner’s studio spanning two levels, a double saloon with dining for 30 guests, and two observation lounges with 360-degree views.The wellness area comprises a gym, spa, and massage room alongside aquatic facilities including a 35 sqm main deck pool and multiple Jacuzzis - two in the beach club area and a private unit for the owner. Accommodation includes nine cabins with capacity for 22 guests, featuring an owner's suite with a forward terrace equal in size to the 110 sqm beach club. Separate quarters accommodate 30 crew members.The yacht’s helideck is certified for Airbus H135, H130, H125, and Bell 407 helicopters, with an enclosed hangar. When not in use, the space converts into an entertainment area for events, outdoor cinema, or dining. A 110 sqm beach club with fold-down balconies, a transom opening, and a multi-level swim platform provides direct water access.For exploration, Altrove carries Limo and RIB tenders, two submarines, and Jet Skis, stored in a waterside garage. The design emphasizes a reverse bow and angular exterior lines, described by the studio as conveying "resilience and strength." No performance or propulsion details were disclosed.Credits: Bassan&Benedetti
April 21, 2025
Spanish marina operator Ocibar has entered its first international venture by acquiring a 25% stake in Marina d'Arechi, a major Italian marina located in Salerno. The facility, developed and operated by the Gallozzi Group, offers 950 berths for vessels from 10 to 100 meters, along with winter storage and maintenance services.Antonio Zaforteza, CEO of Ocibar, stated: “Marina d’Arechi is one of the great examples of success in marina development in the Mediterranean and still has significant growth potential. Our alliance will further enhance this marina and integrate it into a unique value proposition for its customers and those of the various Ocibar marinas.”Ocibar, which manages marinas in Tarragona, Mallorca, Ibiza, and Valencia, sees the investment as part of its Mediterranean expansion strategy. The Gallozzi Group, active in shipping and port operations since 1952, welcomed the partnership.Agostino Gallozzi, CEO of the Gallozzi Group and Marina d’Arechi, said: “We had contemplated expanding the shareholder base of Marina d’Arechi and are very happy to have Ocibar joining us with a 25 per cent participation, based on shared values and principles of business ethics. Our partnership will propel Marina d’Arechi into a new phase of development.”Planned upgrades include berth expansion, infrastructure improvements, and the construction of a hotel to support Salerno's tourism initiatives.Credits: Marina d'Arechi
April 18, 2025
GB Marine Group, the parent company of Grand Banks and Palm Beach Motor Yachts, has named Lynn Fischer as its new Global Chief Marketing Officer. The appointment follows recent expansions, including a 114,000-square-foot factory upgrade, and aligns with the company’s focus on brand growth and owner services.Fischer, previously Chief Marketing Officer at private aviation firm Vista, brings experience in luxury and premium brand strategy. In her new role, she will oversee marketing, brand development, and customer engagement for GB Marine Group’s yacht brands.Lynn Fischer“GB Marine Group is not only a heritage builder – celebrating nearly 70 years of Grand Banks Yachts and 30 years of Palm Beach Motor Yachts – it's a company at the forefront of next-generation yachting,” said Fischer. “From its ocean racing-inspired manufacturing approach that redefines performance and fuel efficiency, to its use of advanced technology and materials, GB Marine Group is pushing the boundaries of what's possible on the water.”CEO Mark Richards stated, “We are thrilled to welcome Lynn to the GB Marine Group. Her deep expertise in building aspirational brands and delivering personalized client experiences will be instrumental as we bring even more exciting new products to market, expand our global footprint, and evolve our factory-direct strategy.”Fischer’s responsibilities will include brand strategy, digital marketing, global campaigns, and enhancing owner experience programs. The move comes as the company prepares new product launches and expands its factory-direct sales model."GB Marine Group owns and operates three premium yacht brands: Grand Banks, Palm Beach Motor Yachts, and Eastbay YachtsCredits: GB Marine Group
April 18, 2025