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 100.8-meter Kusch Yachts superyacht I Dynasty has been listed for sale with Merle A. Wood of Merle Wood & Associates and James Auld of SuperYachtsMonaco, with an asking price of €240,000,000. This places her as the fourth most expensive superyacht currently on the market.Built in Germany and delivered in July 2015, I Dynasty is the second-largest vessel from Kusch Yachts and the yard’s most recent delivery. The project was overseen by Vega Yachts, with The A Group’s Richard Hein responsible for exterior design and naval architecture. She was among the first superyachts to be fully certified to Passenger Yacht Code (PYC) standards.Her interior, designed by Massari Design, accommodates up to 34 guests in 12 cabins, plus four staff in three cabins and 36 crew in 19 cabins. Under PYC certification, she can carry up to 36 guests. The main deck hosts the owner’s suite, which includes separate his and hers marble en suites, while two master VIP suites are located on the bridge deck.With an interior volume of 4,437GT, I Dynasty offers a variety of amenities, including a bridge deck cinema, beach club, sauna, hair salon, massage room, hammam, gym, and a dive centre. Notable design features include an open staircase, floor-to-ceiling windows, and a mix of classical and modern finishes, including warm woods, marble pillars, and glass “shark fins” acting as windbreakers.The yacht’s exterior spaces include multiple dining areas, a covered cinema, several pools, and a float-in tender garage that can be converted into a saltwater pool. She carries a range of tenders and water toys, including a Riva 33 Aquariva and a 9.6-metre Pascoe Limousine.Powered by a diesel-electric system with twin Rolls-Royce Bergen main engines and triple Caterpillar C32 auxiliary engines, I Dynasty has a top speed of 17 knots, a cruising speed of 14 knots, and a range of 7,000 nautical miles.She recently completed her Lloyd’s 10-year Special Survey in June 2025 and will be available for inspection by appointment during the Monaco Yacht Show.Credits: Merle Wood & Associates
August 15, 2025
The first unit from the Lazzara UHV 100 series has had its asking price reduced by €1,005,000. Represented for sale by Josh Gulbranson of Fraser and Richard Higgins of Northrop & Johnson, the 30.5-metre motor yacht is currently under construction and scheduled for delivery in 2026.Designed entirely in-house by Turkish shipyard Lazzara, the model has a reported gross tonnage of 222GT, which the builder claims is the largest in its class. The yacht is being built using a full epoxy construction with e-glass, a closed-cell aviation core, and no gelcoat or wood.Accommodation will be for up to 10 guests in five cabins, including a main-deck owner’s suite with private seating and en suite, and four guest cabins on the lower deck in a mix of queen and twin arrangements. Crew quarters will accommodate five.The interior is designed with multiple floor-to-ceiling windows and 2,800 square feet of living space, including a main deck lounge and dining area for 10, and a full-beam skylounge with a bar and lounge seating.Outdoor areas will include a beach club with a submersible swim platform, a foredeck lounge with a Jacuzzi, and alfresco dining and seating on both the main and upper aft decks.Powered by Volvo Penta engines, the yacht is expected to have a cruising speed of 12 knots and a maximum speed of 16 knots. She will also be equipped with CMC electric fin stabilisation and hydraulic bow and stern thrusters. Principal dimensions include a beam of 7.4 metres and a draft of 1.8 metres.The Lazzara UHV 100 is now listed for sale at €13,495,000.Credits: Northrop & Johnson
August 15, 2025
The 35-meter explorer yacht Fox, constructed by Pendennis Shipyard in the United Kingdom during 2024, is currently listed for sale with an asking price of €18 Million. Burgess is acting as the central sales agent. The yacht features a steel hull and aluminium superstructure built to RINA commercial class standards. Exterior styling is credited to Tansu Yachts and Pendennis, with interiors by Q London. Fox accommodates ten guests across five cabins—comprising a full-beam owner’s suite and four lower-deck guest cabins, each with its own ensuite bathroom—and carries a crew of seven. Its propulsion system consists of twin Caterpillar C18 ACERT engines producing a combined 2,080 HP, enabling a cruising speed of 12 knots, a top speed of approximately 14–16 knots, and a range of around 3,000 nautical miles at a steady pace. ABT TRAC fin stabilisers ensure smooth sailing both underway and at anchor, while Simrad navigation systems enhance onboard operations. Fox is characteristic of an expedition-style explorer yacht, with a muscular exterior and a spacious 103.5-square-meter aft deck capable of storing two 7.5-meter tenders, additional water toys, and even submersibles. This area includes a DJ station, open-air dining, a bar, and a glass-walled sky lounge with a terrace featuring a BBQ and open-air dining. Delivered in Spring 2024, the yacht has been operational with voyages to the Mediterranean. Its name honors Falmouth scientist Robert Were Fox the Younger. Fox was developed as a compact but capable yacht suited for adventurous owners aiming to explore remote regions. The Fox represents a blend of practical explorer functionality and contemporary comfort, now available via Burgess for €18 million.Credits: Yacht Harbour Archive
August 15, 2025
The 30.2-meter Royal Huisman sailing yacht Foftein has been listed for sale with Manfred Haas of Haas International at an asking price of €8,500,000 with VAT paid.Built in aluminium and delivered in 1999, Foftein was designed by German Frers as a cutter-rigged yacht intended for bluewater cruising. She has had only two owners since new, the first being a yachtsman and marine photographer. The yacht underwent a significant refit in 2020 by Huisfit, Royal Huisman’s refit division, which included the installation of hybrid propulsion and updated systems.The refit allows Foftein to cruise silently for up to eight hours, regenerate power under sail, and meet advanced environmental standards. Her propulsion is provided by Volvo Penta 550hp engines, complemented by lithium-ion energy storage.The interior, designed by Pieter Beeldsnijder, features cherry wood panelling and accommodates six guests in a master suite and two twin cabins, all with en suite bathrooms. Crew quarters provide space for four in two cabins.On deck, Foftein has two cockpits: a centre cockpit leading to the deckhouse, and a private aft cockpit connected directly to the master suite. Her sailing capabilities are supported by a modern fast hull, aluminium mast and spars, and semi-automated sail handling systems.Currently cruising in the English Channel, Foftein is presented in what the broker describes as “exceptional, turn-key” condition.Credits: Yacht Harbour Archive
August 14, 2025
Global Services Ltd, a UK-based supplier of marine equipment and services to the superyacht, commercial shipping, and cruise ship industries, has appointed Ian Cooke as Chairman to oversee its next stage of development.The company operates from offices in the UK, the Netherlands, and Palma, working with vessel crews and management to source and deliver a wide range of operational equipment, including tools, spare parts, consumables, and technical items. It also provides ancillary services such as storage solutions, mobile phone plans, inventory management, and logistical support.Cooke, who has more than 30 years of experience in the marine industry across yacht and commercial sectors, will focus on expanding Global Services’ market presence, strengthening partnerships, and advancing its digital transformation and sustainability plans.“Ian has a deep understanding of the marine industry and a clear strategy to guide Global Services into its next chapter,” said Doug Grover, Director of Operations. “We are confident in his ability to build on our strong foundation and accelerate our global impact.”Commenting on his appointment, Cooke said: “The company’s global reach, talented team and strong commitment to client success present an incredible platform for continued innovation and growth. I look forward to working closely with the Board, leadership team, employees, suppliers and clients around the world to shape the future of Global Services.”In addition to his new position, Cooke will continue in his roles at marine equipment distributor C-Quip Ltd and Crewsafe Marine Ltd, along with their associated brands.Credit: Global Services
August 14, 2025