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.
Eastwind Yachts has been appointed as the central sales agent for the 114.2-meter expedition yacht Luna, currently available for €270 million. Built by Lloyd Werft in 2010 and refitted in 2015/16, the vessel is undergoing additional refit work before delivery to a new owner.The Newcruise-designed exterior and Donald Starkey interior accommodate 18 guests in 9 suites with a crew of 51. Luna's steel hull and aluminum superstructure provide a 9,500-nautical-mile range at 16.8 knots cruising speed, with a top speed of 22 knots. The diesel-electric propulsion system and ice-class hull enable global exploration in various conditions.Key features include twin helipads, a swimming pool, beach club, full spa with steam room and sauna, cinema, and two tender garages adjacent to a gym. The yacht's stabilization system ensures comfort at sea."Luna represents the pinnacle of expedition yachting with proven global capability," said an Eastwind Yachts representative. The vessel is currently the world's second-largest expedition yacht.Interested parties can contact Eastwind Yachts for viewings and additional specifications.Credits: Eastwind Yachts; Yacht Harbour archive
June 5, 2025
Viken Group, a global marine design firm specializing in cruise ships and superyachts, has appointed Anna Silvesjö as Chief Executive Officer. Silvesjö previously served as Partner and Group Chief Financial Officer of the company, which owns design studios TDoS (Tillberg Design of Sweden), Hot Lab, and Thalia Marine.Silvesjö outlined her strategic priorities for the group: "Viken Group will continue to expand into new market segments while deepening partnerships with clients through our on-brand design philosophy. Our design solutions align with each client's brand identity, culture, and target audience." She emphasized design excellence, commercial performance, and talent retention as key focus areas.Anna SilvesjöA central initiative under Silvesjö's leadership will be the development of Navigator, the group's integrated service platform for maritime projects. "Rooted in decades of experience across cruise ships, expedition yachts, and private yachts, Navigator simplifies the complexity of shipbuilding while ensuring rigorous cost control throughout development and construction," said Fredrik Johansson, Viken Group Co-Founder.The leadership transition occurs as the marine design industry continues to evolve, with Silvesjö representing one of few female executives in the sector. Her appointment reflects the group's emphasis on financial and operational management combined with design expertise.Viken Group's three subsidiaries maintain distinct specializations: TDoS in cruise ship design, Hot Lab in superyacht concepts, and Thalia Marine in naval architecture and engineering. The group currently operates across multiple international markets, serving both new construction and refit projects.No additional executive changes were announced alongside Silvesjö's promotion. The transition takes immediate effect, with Silvesjö assuming full operational responsibility for the group's global activities.Credits: Viken Group
June 5, 2025
Baglietto has launched the 40.9-meter superyacht Andala, marking the eighth vessel in its DOM 133 series. The ceremony took place at the company's La Spezia facility with the owner and select guests in attendance.Designed by Stefano Vafiadis with interior styling by Giorgio M. Cassetta, Andala features the series' characteristic angular profile while incorporating owner-requested modifications. The yacht includes two swimming pools, full-height windows, and side balconies among its customized elements.IBI Yachts represented the buyer throughout the construction process, with Floating Life's Andrea Pezzini overseeing technical aspects as owner's representative."Our brand's having a truly amazing spring," said Baglietto Chief Commercial Officer Fabio Ermetto. "We've launched four yachts so far, and three more – two DOM133 and a T52 – are going to hit the water by mid-June. Such outstanding results testify to our company's soundness and organisational maturity."The launch represents Baglietto's fourth yacht delivery this year, following the DOM 133 models L'Instant and Astera. Two additional hulls in the series remain under construction at the La Spezia facility, with completions expected in the third quarter of 2024.Andala will now begin sea trials before final delivery to its owner. The DOM 133 series continues to demonstrate strong market demand, with Baglietto maintaining its position in the competitive 40-meter semi-custom superyacht segment. The shipyard's current production pipeline includes three additional vessels scheduled for launch within the next two months.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
June 5, 2025
In-Mind Design has revealed its latest superyacht concept, the Interstellar, showcasing innovative design solutions aimed at enhancing guest experience and sustainability. The 100-meter concept yacht features a unique layout and advanced technological solutions.The vessel’s design prioritizes guest interaction and social spaces, with a particular focus on the upper deck. The main deck features a large open space that can be converted into various configurations, including a cinema, dance floor, or dining area, thanks to modular furniture and retractable screens.The yacht’s exterior design includes a distinctive stepped profile, creating multiple outdoor living areas at different levels. The upper deck boasts a large open space with a retractable roof, providing both indoor and outdoor entertainment options. The concept also features a beach club with direct access to water toys and a swimming pool on the upper deck.“The Interstellar concept is designed to offer maximum flexibility and adaptability to the owner’s needs,” said Francesco Guida, Founder of In-Mind Design. “The modular design allows for various configurations, ensuring the yacht remains relevant and enjoyable over time.”The concept incorporates several sustainability features, including hybrid propulsion systems and energy-efficient materials. The yacht is designed to accommodate up to 24 guests across 12 staterooms, with additional space for a crew of 30.The interior design focuses on creating a seamless connection between indoor and outdoor spaces. The main saloon features large windows and sliding doors that open onto the deck, while the owner’s suite includes a private terrace with panoramic views.The yacht’s technical specifications include a beam of 18 meters and a draft of 4.5 meters. The hybrid propulsion system allows for a top speed of 18 knots and a cruising speed of 15 knots, with an estimated range of 5,000 nautical miles at 12 knots.“We aimed to create a yacht that not only meets the current demands of luxury travel but also anticipates future trends in design and technology,” added Guida. “The Interstellar concept demonstrates our commitment to innovation and sustainability in yacht design.”The Interstellar concept is currently available for potential clients interested in commissioning a custom build based on the design.Credits: In-Mind Design
June 4, 2025
Sanlorenzo has unveiled Casa Sanlorenzo, a new 1,000 square meter arts venue housed within a restored 1940s palazzo overlooking Venice's Santa Maria della Salute basilica. The project includes 700 square meters of exhibition space and a 600 square meter garden, featuring the company's contemporary art collection dating from 1965 to present.Architect Piero Lissoni led the restoration, preserving original brick facades and flooring while introducing contemporary elements. Notable features include a glass-and-steel staircase and an adaptive lighting system designed to accommodate changing exhibitions. The space connects to surrounding areas via a new bridge constructed from prefabricated metal with Istrian stone treads and oar-inspired handrails."I believe the opportunity to build a bridge in Venice for Sanlorenzo Arts is more unique than rare," stated Piero Lissoni. "This bridge is not simply a vehicle to transport people, but a cultural bridge."The venue will serve as an official location for Venice Climate Week from June 4-6, hosting the "Sanlorenzo Talks" series on ecological transition and sustainable innovation. The palazzo's restoration maintained all original load-bearing structures while updating mechanical systems and creating flexible gallery spaces.Casa Sanlorenzo's art collection reflects postwar artistic movements, with works displayed against white walls and alternating concrete and Palladian stone floors. The property combines exhibition areas with a private residential apartment, representing Sanlorenzo's integration of marine craftsmanship, design and contemporary art patronage.The bridge's design incorporates traditional Venetian elements including a humpback shape reminiscent of medieval structures and specialized anti-slip stone treatment. Its metal components feature weather-resistant finishes suitable for the lagoon environment. The project required 18 months of restoration work before opening to the public.Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length. Credits: Sanlorenzo
June 4, 2025