Established in 1873, Benetti went a long way from building wooden boats to posting a €1 billion turnover in 2008. Stronger than ever, the Italian group is now on its way to expanding its reach into the 100-meter plus market, tightening its grasp on yachting.
Benetti's story starts with its foundation by Lorenzo Benetti in 1873 to manufacture local wooden boats. After WW2, the need for wooden boats had disappeared and the company started building steel, pleasure crafts. By the 1960s, it was creating some of the world's first superyachts.
Its strongest push came with the acquisition of the yard by Azimut in 1985, resulting in the Azimut Benetti group, which still exists to this day. Propelled by commercial successes and a cooperation with then unknown designer Stefano Righini, the group went on a buying spree.
Amongst its purchases, the Gobbi shipyard, which manufactures its Atlantis range today, Fraser Yachts, the brokerage house, as well as Marina di Varazze and the Royal Yacht Club in Moscow. By 2008, the group built its way to a €1 billion turnover.
As the subprime crisis hit yachting, leaving many shipyards to shut down, the whole market, including Benetti, which was able to push through strongly nevertheless. Amongst yachts built in that period were Staluppi's 61-meter Diamonds are Forever and Nick Candy's 63-meter 11-11 amongst others.
By 2016, Azimut-Benetti's turnover had risen again to near €700 million, marking 3 years of consecutive growth. Throughout this time, Benetti's most visible products, 30 to 60-meter yachts remained highly attractive to charter clients, some of which started buying them again as the market picked up.
Whilst most visible through Benetti yachts in the mid-size range, the group's influence on yachting spread deeply throughout the market in different spaces. Azimut, a leader in the construction of yachts of up to 30 meters, has become a reference in the space, acting as a gateway drug to the group's yachts.
Through its full ownership of Fraser Yachts since October 2017, the group controls Fraser Yachts, a brokerage firm also active in yacht management and crewing. By extension this provides the group with first-party data on client behaviour as well as deeper insights into yachting, knowing first hand how other competing shipyards perform.
"This recent acquisition is part of the strategic plan of our group to offer superyacht owners not only the most beautiful yachts, but also the utmost service" commented Azimut-Benetti's president, Paolo Vitelli, when the group bought out V.Ships' minority stake in Fraser in 2017.
Skewing towards small to mid-size yachts of up to 60-meters, the Azimut-Benetti group had grown its position in the sector to the point of building the most meters out of any shipyards for 19 consecutive years. Its impact on the megayacht market, however, remained immaterial leaving Northern European shipyards like Lurssen, Feadship and Oceanco to dominate the space.
Benetti's first attempt to enter the space came in the 1980s. At the time, the yard had secured the build of the 86-meter Nabila for Saudi businessman and arms dealer, Adnan Khashoggi, the 8th largest yacht in the world. The yacht was later purchased for $29 million in 1987 by Donald Trump and renamed to Trump Princess.
For decades after, Benetti stayed away from new builds of this size, leaving the market to other shipyards. Recently, however, yachting changed and the megayacht space entered into an upswing, leading to Benetti coming back into the size range. This first took the form of the 90-meter Lionheart, delivered to British businessman Philip Green in 2016.
The yard's current flagship, however, is about to be eclipsed by a 107-meter yacht launched in December 2018. More significantly, this will be the first yacht out of 3 over 100 meters to be delivered by Benetti over the coming months. Amongst customers for one of these new hulls is Australian billionaire and serial yacht owner James Packer.
Benetti's ambition to takeover one of the remaining parts of the market is not unfamiliar to other shipyards. Dutch shipyard Heesen Yachts, backed by Russian billionaire Vagit Alekperov, has also built a new dry dock capable of building yachts of up to 85 meters back in 2016.
Meanwhile yards known for megayachts such as LVMH's Feadship have started expanding their influence downward with projects such as Feadship's Lagoon Cruisers of 34 meters in length. Results of these strategies remain to be seen in coming quarters, however, even now over half of yacht gross tonnage is built by just 10 shipyards.
The 32.7m yacht Exit Strategy has been sold by Denison Yachting's Drew Offerdahl and Russ Schafer who both introduced the buyer. Clint Matlock with Galati Yacht Sales represented the seller. The 32.7m Exit Strategy was delivered in 2006 by Hargrave and had a full refit in 2014. This family-friendly yacht can accommodate eight guests across four cabins, including a master suite, VIP suite, and port and starboard twins that convert to double cabins. Each stateroom comes with ensuite bathroom facilities. A favorite spot onboard Exit Strategy is the flybridge, which offers a comfortable and shaded socializing area. Guests can also set up a cabana on the bow.Her classic interior was made by Shelley. She has a top speed of 20 knots and a cruising speed of 17 knots.Exit Strategy was sold with a last known asking price of USD 3,700,000.Credits: Denison Yachting
December 1, 2021
The 37m Benetti Papaito is now available for charter with Northrop & Johnson. The luxury charter yacht will charter in the Bahamas in the summer and the Dominican Republic in the winter. Charters start at $125,000 per week, plus expenses.Papaito was delivered in 2009 with a refit in 2020, bringing her updates and upgrades throughout her interior and exterior. The motor yacht’s stabilizers allow for guest comfort when anchored or while underway.She offers a splendid charter yacht for groups of up to 10 people. The yacht’s contemporary interior areas and expansive exterior spaces make her ideal for on-water holidays. She has a classic Benetti styling across all her interior areas; from the main salon to the stunning staterooms, guests will feel the elegance of being onboard a luxury yacht. The yacht’s five sumptuous staterooms include a full-beam master suite with a king-size bed, two with queen-size beds and two with twin-size beds. The yacht’s tri-deck layout is a functional feature for optimal privacy between guests and crew. Papaito’s aft deck, skylounge, flybridge and foredeck offer commodious seating options for alfresco dining, socializing and sunset-watching.Credits: Northrop & Johnson
December 1, 2021
Sanlorenzo reaches an important new milestone: the сompany has signed the contract for the manufacturing of the largest superyacht ever to be built by the shipyard. The sale was finalised through the international broker house Edmiston and the new project will be delivered to its European owner in spring 2025. The sale of this new superyacht, which coincides with the sale of further two units of the 62Steel line, completes a record-breaking year for Sanlorenzo's Superyacht Division which is proud to have already closed 15 contracts to date in 2021. This year also saw a significant increase in production activity, with six superyachts delivered and six units launched.“The pride of having signed the contract for our first 72Steel, the largest Sanlorenzo ever to be built and which will be in the water in 2025, is the crowning achievement of an unparalleled year,” says Ferruccio Rossi, President of Sanlorenzo's Superyacht Division.With its 72 meters in length, five decks and a volume of 1850 GT, the 72Steel will be a completely new project with respect to its predecessors. Like every new creation of the Superyacht Division, the 72Steel will be characterised by unexpected solutions, the result of a project studied at 360 degrees around the concept of liveability on board: from the conception of the steel hull, with an aluminium superstructure, conceived and forged like a work of art, to the design of the interiors, customised in every smallest detail to adhere perfectly to the client's every desire.The external lines of the 72Steel will be made by Studio Zuccon International Project, while the interiors will be furnished to meet the owner's specific requirements. The owner's cabin will have a dedicated deck – above the bridge deck and will occupy an entire deck of the yacht. The main deck will be the area reserved for guests with lounge areas and five spacious cabins. One of the model's special features will be an extensive wellness area to ensure relaxation for all guests on board."The 72Steel is aiming to become one of the new protagonists of the Sanlorenzo range, thanks also to the hybrid diesel-electric engine system, which confirms again the Company's increasing attention to the future, constantly studying concrete solutions to reduce the impact of its yachts on the marine ecosystem. The hybrid diesel-electric engine system represents a combination of innovative solutions which make it possible to significantly reduce emissions into the atmosphere and the sea, ensure high levels of comfort and rationalise the spaces dedicated to the engine area in favour of the internal volume available for owners and guests, thus presenting itself as a new paradigm for superyachts of this size," stated Antonio Santella, New Product Development Director of Sanlorenzo’s Superyacht Division.On the same occasion, Sanlorenzo also confirmed the Group's guidance for 2021, which foresees a double-digit growth of the main metrics (Net Revenues New Yachts, EBITDA, Net Profit, Investments and Net Financial Position), supported by an order intake of €381.1 million in the third quarter, which led the backlog to a record level of €1.2 billion.Sanlorenzo was founded in 1985 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.6 to 62 meters in length. Credits: Sanlorenzo
December 1, 2021
WHY200 is the first unit of the new WHY range, which made its World debut at Cannes Yachting Festival 2021. This innovative motor yacht combines the comfort and space of a larger displacement yacht with the speed and performance of a semi-displacement.WHY200 exterior She was developed by the Wally design team led by Luca Bassani, jointly with the Ferretti Group Engineering Department. The naval architecture was made by Laurent Giles NA Ltd and interior design by Studio A. Vallicelli & C. WHY200 exterior night view "We are very proud of WHY200, a yacht that was a bit of a gamble but that today rewards us with a result that exceeds our wildest expectations," says Stefano de Vivo, Wally Managing Director. "With its widebody design, this 200 GT yacht offers far larger volumes compared to traditional motorboats, plus a living space and stability that are definitely greater than any competitor’s. It is the ideal yacht to freely and safely regain possession of one's space with family and friends." Main salon The first unit, displaying an exclusive "Wally Silver" colour, has a four-cabin layout: the master cabin with two separate bathrooms on the main deck, a VIP and two guest cabins on the lower deck. One of the key features is a spectacular 4.7-meter-high glazed bow housing a 37 sq. m master suite overlooking the sea, with an uninterrupted 270-degree view of the horizon. Master suiteThis cabin stands out also for its exceptional noise levels thanks to the positioning of the engine room which is located at the opposite end of the boat.SkyloungeThe eye-catching upper deck has a futuristic glass and carbon dome and the extended, structural top with no supporting pillars is a masterpiece of design and engineering for its exceptional stability and strength.Upper deck cockpitThanks to the 5G wireless network connection with home automation control, guests are able to comfortably manage all the audio/video systems via mobile devices, both outside and inside the yacht. Main deck Through Naviop's integrated system, they will also be able to check navigation data, keeping the yacht's progress and parameters constantly under control. The first unit features a state-of-the-art 55 inch TV in the upper living room and a 5.1 Premium sound system on the main and upper decks, while a sophisticated Sonance sound system serves the outdoor areas. Wheel house The WHY200 has the folding beach club bulwarks, that not only allow access to the sea on three sides (according to a radically innovative concept), but also expand the living area to 32 sq. m, transforming it into a true terrace over the water, with size and features that make all competitors, even larger ones, pale in comparison. Beach club In addition, WHY200 boasts two garages with a storage capacity never seen before on yachts of this size, capable of accommodating a 4.05m jet tender, wave runner, seabob, paddleboard and all manner of water toys. WHY200 exterior Thanks to four Volvo Penta D-13 IPS 1350 engines 1000 hp each, WHY200 can cruise at 23 knots top speed. WHY200 exterior "The new WHY200 expresses all its innovative power through new architectural elements, which represent a break with the past and with the typical clichés of a motor yacht. Ferretti Group made it possible to realise a concept that had been close to my heart for some time, believing in the success of a bold design that will improve the owner's experience on board and represent a turning point in the motor yacht market,” comments Luca Bassani, Wally Founder and Chief Designer. WHY200 exterior night view Wally is part of Ferretti Group. It was founded in 1994 in Monaco by Luca Bassani and is the only yachting brand to be a two-time winner of the ADI Compasso d’Oro, the world’s most important award for quality and design. Credits: Wally
November 30, 2021
The UK’s Princess Yachts will present an exceptional line-up at boot Düsseldorf, including two global launches, the Princess X80 and the all-new V50 – plus two show debuts, the Princess X95 and Y72. The Princess F55 and V55 make up the fifth and the six yachts on display.Princess X80Featuring an extended flybridge that provides 30% more indoor space than a traditional motor yacht, the X80 is the smaller sister ship to the award-winning X95. Defined by innovative layout options with a host of distinct spaces, the X80 includes an enclosed bridge and skylounge on the upper deck, and an optional master stateroom forward on the main deck. Working together with Olesinski and Pininfarina, Princess has created the ultimate in avant-garde yacht.Princess all-new V50The all-new V50, available as a deck saloon or open model, replaces the popular original V50. Crafted with a new hull mould that delivers impeccable handling and sea-keeping, this modern sports yacht features new standards of refinement in interior fixtures and fittings as seen on her larger counterpart, the V55. An extended canopy creates the perfect place for guests to enjoy the outdoors under the large shaded cockpit area, whilst attractive shapes and forms flow throughout the main deck salon.Princess X95“Princess Yachts is thrilled to see the return of the much-anticipated boot Düsseldorf 2022 and eagerly await the opportunity to be back with the team at Messe Düsseldorf in person. We will be at Düsseldorf with an innovative range of boats that encapsulate everything we are about – improved efficiency and seakeeping; innovative packaging; and the extraordinary elegance of design for which we are renowned. With our full X Class range on display, as well as the all-new V50 and the Y72, we look forward to showing the world how we continue to push the boundaries in yacht design,” says Antony Sheriff, Executive Chairman, Princess Yachts.British yacht builder Princess Yachts was founded in 1965, manufacturing fibreglass yachts ranging from 13 to 40 meters in length. Its parent company is the French luxury group LVMH. Credits: Princess Yachts
November 30, 2021