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.
Damen Yachting has commenced sea trials for its latest 53-meter Yacht Support vessel at its Antalya facility, following the yacht's launch last month. The trials mark the final phase before the vessel's scheduled completion in summer 2025.This represents the third unit of the YS53 model, following the 2024 deliveries of Bad Company Support 175 and Five Oceans. The YS53 series targets owners requiring multifunctional support vessels, featuring an axe bow design for improved seakeeping and high bow construction for deck protection.Project Manager Pim Oostra stated: "We are delighted this YS53 has started sea trials, an important step toward summer completion." The Antalya shipyard continues work on final outfitting during the testing period.Damen Yachting has delivered over 20 support vessels across its Yacht Support range. The YS53's design emphasizes operational reliability, with an aft deck configured for various tender and equipment deployments. No client details or delivery destination were disclosed for this third hull.The vessel's technical specifications remain consistent with previous YS53 models, though Damen hasn't confirmed whether this unit includes custom modifications. The sea trials will evaluate performance parameters ahead of the scheduled summer handover.Damen Yachting, a division within the Damen Shipyards Group, was created in 2019. The division combines the pedigree and heritage of Amels yachts with a growing portfolio of SeaXplorer yachts and Yacht Support vessels.Credits: Damen Yachting
May 21, 2025
Vripack has completed the interior concept for Burger Boat Company's new 55-meter superyacht, drawing on their 25-year collaboration with the Wisconsin shipbuilder. The design emphasizes natural materials, functional storage solutions, and adaptable lighting schemes for the custom-built vessel.The interior scheme features American walnut flooring and ceilings throughout, complemented by Calacatta Gold and Dark Emperador marble in guest bathrooms. Vripack prioritized maintaining sightlines through large picture windows while incorporating discreet storage units, particularly in the main salon. "Floor-to-ceiling windows are important, but shouldn't sacrifice functionality," said Vripack co-creative director Bart Bouwhuis.Lighting design forms a key element, with layered illumination including sconces, mini spots, and underlighting to transition from daytime to evening ambiance. The owner's stateroom employs a lighter color palette with customizable artwork displays, while guest areas feature Poltrona Frau furniture including Archibald armchairs.Storage solutions were expanded across all decks, addressing a common owner priority. The design maintains what Bouwhuis describes as "an easy-going foundation" with textured fabrics by Dedar and high-gloss finishes adding visual richness. Loose furniture selections include a Poliform Westside coffee table in the main saloon.The project continues Vripack's longstanding partnership with Burger, having previously collaborated on yachts including the mahogany-clad Ingot and the Slide Hull-equipped Burger 50 Cruiser. No delivery date was specified for the 180' model, which represents Burger's contemporary approach to custom yacht building.Vripack's design targets what Bouwhuis identifies as the typical Burger owner's priorities: "A vessel that's practical, comfortable, and tailored to their specific desires." The studio balanced aesthetic considerations with maintenance requirements and durability for extended cruising use.The Burger 180' interior marks another American-European collaboration for the Dutch designers, who have increasingly focused on storage optimization and transitional lighting schemes in recent superyacht projects. The yacht's technical specifications and propulsion details remain undisclosed at this stage of construction.Vripack is a yacht-design studio with a portfolio that represents over 7400 designs, made strong through its extensive naval architecture and engineering experience. From the moment they opened their doors in 1961, Vripack studio’s approach to design has been governed by the playful interaction between form and function.Credits: Vripack
May 21, 2025
Electric yacht builder Sialia Yachts has named Marco Plicchi as its new Chief Operating Officer. The appointment strengthens the company's leadership team as it prepares to launch its fully electric Sialia 45 model in June 2025.Sialia 45Plicchi brings 25 years of marine industry experience to the Polish shipyard, having previously held senior operations roles at several luxury yacht manufacturers. As COO, he will oversee production processes, new product development, and quality control across Sialia's range of 13-30 meter electric yachts.Marco PlicchiThe naval architect's immediate focus will be operational efficiency improvements as Sialia completes its 45-foot flagship model. The Sialia 45 claims class-leading range and a 43-knot top speed ahead of its scheduled debut at the Cannes Yachting Festival in September 2025.Sialia 57 Deep SilencePlicchi's technical background includes implementing production systems, managing sea trials, and developing after-sales service programs. His appointment follows Sialia's expansion under parent company Silent Straits Group, though no organizational changes were announced beyond the COO position.Sialia 45The shipyard continues developing its zero-emission yacht portfolio, targeting the growing market for electric propulsion in the 40-100 foot segment. No production volume targets or new model announcements were disclosed alongside the executive appointment. Plicchi will assume operational responsibility immediately as Sialia prepares for its Cannes showcase.Credits: Sialia Yachts
May 21, 2025
The Custom Line 50 superyacht has received the Miglio Blu Design Award 2025 in the "Living Innovation" category. The 50-meter aluminum yacht was recognized for its revolutionary interior layout during the Blue Design Summit in La Spezia.Judges highlighted the yacht's dedicated owner's deck featuring a 75-square-meter suite with private terrace, natural lighting solutions, and separated crew/guest circulation for privacy. The award acknowledges Custom Line's approach to combining aesthetic innovation with functional design in the semi-custom segment.The Ferretti Group brand continues to emphasize owner-centric layouts across its model range. The Custom Line 50 remains available for order through the company's global dealer network, though pricing and delivery timelines were not disclosed. This marks the third consecutive year a Ferretti Group product has received recognition at the Italian design awards.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
May 20, 2025
Italian shipyard CRN has handed over the 67-meter superyacht Amor à Vida to its owner following successful sea trials. The steel and aluminum vessel, previously known as Project Maranello, departed CRN's Ancona facility in early May for its maiden Mediterranean voyage.The six-deck yacht features exterior styling by Nuvolari Lenard and interior design by Valentina Zannier, developed in collaboration with the owner. Moran Yacht & Ship represented the owner throughout the construction process, overseeing technical evaluations and project coordination. Accommodation includes an owner's suite on the upper deck, a convertible VIP suite on the main deck, and five guest cabins on the lower deck, with a total capacity for 12 guests.Amor à Vida incorporates a hybrid propulsion system with two MTU 12V4000 M63 engines, achieving IMO Tier III emissions certification. The yacht reaches a maximum speed of 16 knots with a cruising speed of 15 knots. An advanced heat recovery system improves energy efficiency by repurposing waste heat for the yacht's pools and plumbing network.CRN's project team worked closely with the owner's representatives and subcontractors to execute the custom design, which emphasizes fuel efficiency through its hybrid power management. The delivery follows the 2024 launch of CRN's 72-meter Cloud 9 and precedes several scheduled 2025 completions at the Ancona shipyard. No construction timeline or cost details were disclosed.The yacht's delivery marks another full-custom project completion for CRN, continuing the Ferretti Group subsidiary's focus on bespoke superyacht construction. Amor à Vida will spend its inaugural season cruising Mediterranean destinations before potentially appearing at fall boat shows.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
May 20, 2025