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.
Northrop & Johnson presents Maoria, a 2021 Numarine 26XP, now available for sale. Listed by esteemed Yacht Brokers Ali Tanir and Sean Doyle, Maoria is priced at EUR4,400,000 and is currently located in the picturesque South of France. This remarkable vessel is the first Numarine 26XP to receive charter class certification and features an exquisite sauna on the lower deck, making it the perfect choice for discerning charter guests.Designed for global cruising with elegance, Maoria boasts sleek, modern lines and generous outdoor spaces. The aft deck invites relaxation with a comfortable lounge area, complete with adjustable tables and seating for eight, ideal for alfresco dining or enjoying cocktails under the stars. Inside, the main saloon is bathed in natural light thanks to its floor-to-ceiling windows that offer panoramic views. The interior includes a spacious master cabin with a walk-in wardrobe, as well as two additional guest staterooms, both featuring ensuite bathrooms, and stylish furnishings throughout.The sundeck serves as a premier entertaining space, featuring a dining table for eight, barbecue, sunbeds, and a fully stocked bar. For those seeking a private retreat, the lower deck sauna and shower provide the perfect respite after a day of adventure. Performance-wise, Maoria impresses with a top speed of 14 knots and a cruising range of up to 2,500 nautical miles, complemented by zero-speed stabilizers for enhanced comfort while anchored or cruising.Equipped with an array of water toys – including a 5m tender, Jet Ski, and snorkeling gear – Maoria opens up a world of exciting possibilities for exploration. Numarine, a European high-performance motor-yacht shipyard headquartered in Istanbul, offers a range of yachts from 19 to 45 meters.Credits: Northrop and Johnson
November 18, 2024
Sunreef Yachts has unveiled the first look at the interiors of its groundbreaking hybrid catamaran, the Ultima 111, which was introduced just two months ago. New images released by the luxury boat manufacturer showcase the yacht’s serene and sophisticated interior features, including the stunning owner's stateroom and the expansive main saloon.The Ultima 111, measuring 36.25 meters, is a collaborative design effort between Sunreef and renowned Dutch design firm Phathom Studio, focusing on both interior and exterior aesthetics. This catamaran made its debut at the Cannes Yachting Festival in September and is set to be constructed at Sunreef's cutting-edge facility in Ras al-Khaimah, UAE. It will serve as the flagship of Sunreef's Ultima line, known for its blend of performance, style, and sustainability.Incorporating modern design elements, the yacht’s interior is crafted in two distinct palettes. The exterior features subtle automotive influences with a sleek grey hull and black glass framework. Inside, the design philosophy revolves around ‘gentle boldness,’ merging vibrant design with calming atmospheres. This approach juxtaposes dynamic features with soft, organic elements, creating spaces that are both energizing and tranquil.Material choices prioritize durability and environmental sustainability, with an emphasis on natural resources that align with a circular economy. The interior features a sophisticated mix of earth-toned shades and textures, enhancing the living experience through warmth and biophilic elements.“We understand our market and have essentially shaped the concept of luxury catamarans,” said Francis Lapp, Sunreef's founder and president. “Working with Phathom’s talented team allows us to introduce innovative ideas while staying true to our brand's essence, and we anticipate the Ultima 111 will resonate with a wide audience.”Phathom's interior design incorporates warm, tactile elements alongside organic curves that promote a sense of wellbeing, making the living spaces both modern and inviting.The Ultima 111 featuring all guest accommodations above the hulls for enhanced space and connection to the sea through expansive panoramic windows. The owner’s cabin boasts private access to a foredeck terrace suspended between the hulls.The main saloon impresses with high ceilings and abundant glass, while sliding doors open to a dynamic indoor-outdoor dining space, complemented by fold-down balconies. A sophisticated marble bar and inviting sofas complete the inviting atmosphere.The vessel also includes an ample upper deck lounge encased in glass, promoting fluidity between inside and out, and featuring an open-concept atrium staircase that enhances connectivity throughout the yacht. Enhanced privacy and efficiency are ensured with a thoughtfully designed crew flow.In addition to these features, Sunreef has announced the Ultima 111 will come with hybrid propulsion options – an innovative choice in the 30-40 meter range. The superstructure’s horizontal surfaces can house high-performance solar panels capable of generating sufficient power to support the yacht’s systems silently through the night.The exceptional beach club at the stern, augmented by fold-down wings, significantly increases space for relaxation, while a concealed drive-in garage accommodates a tender up to 5.5 meters in length – ensuring a clean aesthetic when not in use. Guests can also enjoy a lavish glass-walled hot tub with sun pads, perfect for soaking in stunning views.Sunreef recognizes its environmental responsibility and has integrated sustainable practices throughout the yacht, including the use of recycled materials to enhance strength while reducing weight. Options for renewable fibres and recyclable materials will feature within the yacht’s structure, ensuring a commitment to ecological consciousness."The Ultima 111, enhanced by its captivating interior, retains all the attributes associated with Sunreef yachts – efficiency, ample space, and luxurious comfort with minimal energy use,” Lapp concluded, highlighting the unique essence of their catamarans.Sunreef Yachts was founded by Francis Lapp in 2002 in Gdansk, Poland. Since then, the shipyard has been designing and manufacturing luxury sailing and power multihulls. Credits: Sunreef Yachts
November 18, 2024
Sialia Yachts has taken a significant step forward in its growth and innovation journey by appointing Milvio Ricci as the new Chief Commercial Officer of Sialia Yachts and its parent company, Silent Straits. This strategic move aims to redefine the zero-emission yachting industry, further establishing Sialia Yachts as a leader in eco-luxury yachting.Milvio Ricci boasts a robust academic foundation, with a degree in Electronic Engineering and an MBA from the University of Birmingham and SDA Bocconi, where he was President of the Bocconi Sailing Club. This pivotal role marked his entry into the yachting sector, leading him to a position as Business Development Manager at one of the largest yachting groups globally. In that capacity, Ricci directed market expansion and spearheaded key acquisitions, including the American dealer Allied Marine Group.Milvio RicciIn 2009, Ricci advanced his career by taking on roles as Brand Manager and Digital Communication Group Manager, and later served as Country Manager/Sales Director at Trend Group. In 2012, he joined Cerved Credit Management Group, where he established a department focused on the recovery and sale of leasing assets. More recently, Ricci has founded and managed several startups across luxury markets, services, and finance.With his extensive experience and strategic outlook, Milvio Ricci will oversee the organization of the group, manage the brand portfolio, and streamline processes, including sales, to enhance Sialia Yachts' market presence. His appointment underscores Sialia Yachts' dedication to becoming a pioneer in the eco-luxury yachting sector, promoting awareness of a sustainable future.“I am very pleased to join such an innovative shipyard,” said Ricci. “Our goal is to redefine the world of emission-free yachting, as we have already demonstrated with the Sialia 57 Deep Silence, which achieved remarkable success at its American debut at the Fort Lauderdale International Boat Show.”Founded in 2017, Sialia Yachts prioritizes sustainability and innovation in yachting. Led by Stanislav Szadkowski, the company specializes in eco-friendly boats, including the Sialia 57 Deep Silence and upcoming models.Credits: Sialia Yachts
November 18, 2024
Benetti unveiled M/Y Juno’s 7, the inaugural vessel of its Class 44M series, during a launch event in Viareggio. This remarkable yacht showcases the artistry of Cassetta Yacht Designers, featuring a design that emphasizes natural, informal settings across its four decks, reflecting the brand's rich heritage.Juno’s 7 represents a significant milestone for Benetti, as it is the shipyard's fiberglass flagship, merging excellence and tradition with a modern flair. Daniela Petrozzi, Benetti’s Sales Director, expressed her excitement, stating, “This yacht embodies our continued commitment to innovation while honoring our legacy. Cassetta Yacht Designers have expertly redefined the exterior and interiors, bringing a fresh perspective to our design ethos.”The design philosophy behind Juno’s 7 focuses on creating a relaxing atmosphere, intentionally steering clear of overly artificial or elaborate environments. The use of expansive transparent surfaces, such as hull mirrors in the main lounge, enhances the natural light and openness of the space.Material selection played a central role in the design. Highlights include the use of trowelled resin for bathroom surfaces instead of traditional marble – reserved only for the main deck's basins. The yacht features a diverse array of FSC-certified woods, including antique elm flooring that retains the wood’s natural knots and uniquely varied plank sizes. Striped ash paneling was chosen for the walls, meticulously curated to achieve the perfect aesthetic for the yacht.Juno’s 7 is tailored for extended and secure voyages, with a layout designed for maximum privacy and ample storage. The yacht boasts four decks: the main deck includes the owner’s cabin, a galley, a dayhead, and a spacious lounge with panoramic views; the upper deck features a helm station, expansive living areas, and an optional VIP cabin; the sun deck offers over 102 square meters of recreational space, while the lower deck houses four guest cabins and crew facilities. A unique beach club near the water's edge adds an independent, multifunctional area, complemented by a garage strategically located on the port side.Soundproofing is a standout feature, placing this 44-meter yacht at the forefront of its class through advanced floating floors, bulkheads, and cutting-edge flexible transmission couplings. Additionally, the yacht’s air-conditioning system ensures optimal climate control with six air exchanges per hour.Powered by twin MAN engines rated at 1,400 HP each at 2,300 r/min, Juno’s 7 can reach a top speed of 15 knots and offers an impressive range of 4,100 nautical miles at a cruising speed of 11 knots.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: Benetti
November 15, 2024
The Italian Sea Group marked a significant milestone with its brand Tecnomar for Lamborghini during the European premiere of Automobili Lamborghini's latest super sports car, the Temerario1.Over 400 automotive enthusiasts arrived at Lamborghini Day Germany, hosted at Luftschiffhangar Mülheim near Düsseldorf, showcasing their extraordinary super sports cars. The event offered a thrilling 360-degree celebration of the iconic brand and unveiled the Temerario1, a remarkable Fuoriclasse super sports car boasting a powerful 920-hp twin-turbo V8 hybrid powertrain.As a partner for the occasion, Tecnomar for Lamborghini curated a unique experience using its Ad Personam configurator, enabling guests to customize their own Tecnomar for Lamborghini 63 yacht. A stunning scale model of the yacht captured the attention of attendees, emphasizing the dynamic synergy between the realms of Tecnomar and Lamborghini through their shared attributes of sportiness and power.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
November 15, 2024