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.
Moonen Yachts has launched the 36.3m Martinique named Moonshine, during a christening ceremony held last week in The Netherlands. This marks the sixth Martinique model from Moonen's successful fast displacement steel hull series, designated as yard number YN204.Represented by Neal Esterly from Fraser Yachts, the owners chose Moonen Yachts to bring their vision to life due to the yard's reputation for excellence in their size range and yacht type. Customizations were made to suit the owners' preferences, including adjustments to the yacht's length, allowing it to fit within a specific location with a limited length requirement.Set to be delivered before the summer season, Moonshine will embark on a journey through the Mediterranean and the Caribbean before finding her permanent home in San Diego, California.The collaboration between Moonen Yachts and the owners, crew, and construction team was characterized by close cooperation and productive exchanges. John Bechtold, the Project Manager at Moonen Yachts, expressed gratitude for the opportunity to refine Moonshine according to the owners' desires and intended use.Crafted in collaboration with Hollander Yacht Design, Moonshine boasts a rich and characterful interior design. The main saloon features full-height windows and innovative sliding doors, creating a seamless transition between indoor and outdoor spaces.Designed by René van der Velden, the Martinique's exterior architecture prioritizes natural light, breathtaking views, and harmonious indoor-outdoor connections. With a maximum speed of 17 knots and transatlantic capability, Moonshine promises exceptional comfort, spaciousness, and stability.Moonshine's launch follows the recent introduction of Lumière, the fifth yacht from Moonen's premium semi-custom Martinique series. The shipyard is currently working on the construction of the seventh Martinique model, YN205.Moonen Yachts is a yacht builder based in the Netherlands, and its first yacht was built in 1964 under the original yard name of De Ruiter. In 1981, the yard was renamed Moonen Shipyards. It’s launching its first vessel under new ownership: Alhena. In 2017 Moonen Shipyards changed into Moonen Yachts. With the help of strong vision, innovative technology and new designers, Moonen is once again becoming the market leader in 30m to 50m luxury yachts.Credits: Moonen Yachts
April 26, 2024
Ocean Alexander announces the successful sale and delivery of the new Ocean Alexander 35-meter Revolution, marking a significant milestone in luxury yacht craftsmanship. Unveiled for the first time at the prestigious 2021 Fort Lauderdale International Boat Show, where it clinched the coveted Best in Show title, the OA 35R stands as a testament to exceptional design and engineering.Crafted by the esteemed Evan Marshall in collaboration with Arrabito Naval Architects, the 35R redefines luxury and performance, offering an unparalleled yachting experience. With an impressive gross tonnage just under 300 GT, this masterpiece challenges the boundaries of a traditional 116-foot yacht, providing expansive living spaces that epitomize opulence and comfort.Bruce Siler, the Ocean Alexander Brand Manager with MarineMax and the selling broker, expressed his delight, stating, "It was a pleasure working with this client. This is his first Ocean Alexander. The 35-meter Ocean Alexander offers the size and volume he loves. He will be traveling to the Bahamas, up and down the east coast of the US, and possibly the Med."Powered by upgraded twin MTU® V16 2600 HP engines, the 35R achieves a top speed of 23 knots, ensuring swift navigation through the seas. At a hull speed of 10 knots, it boasts an extended range of over 1,200 nautical miles, promising unmatched performance and reliability for extended voyages.With robust mechanical features and uncompromising build quality, the OA 35R assures a serene journey across the vast oceans.Ocean Alexander is a family business. Two generations of one family have guided the shipyard for almost four decades. With manufacturing in Taiwan, Ocean Alexander is consistently one of the top selling brands for large yachts in the U.S. and currently produces models ranging from 26 to 36 meters in length. Credits: Ocean Alexander
April 26, 2024
In an elegant ceremony held in Viareggio, the eighth installment of the Mangusta GranSport 33 set sail into the azure waters, marking yet another milestone for the renowned yacht series.Crafted at the intersection of avant-garde design, artisanal expertise, and cutting-edge technology, this vessel is the epitome of nautical excellence. Designed in collaboration between Alberto Mancini and Ovemarine Group's technical department, the Mangusta GranSport 33 offers a seamless blend of sophistication and performance.Measuring 33 meters in length, this yacht effortlessly combines high-speed cruising capabilities of up to 25 knots with spacious and comfortable interiors, ideal for extended voyages across diverse waters.A hallmark of this vessel is its expansive interior spaces, totaling 228 gross tons, meticulously designed to cater to the discerning tastes of the owner and their guests. The on-deck master stateroom, spanning over 40 square meters, sets a new standard of luxury in its class, complemented by two VIP cabins and two guest cabins on the lower deck, all benefiting from the innovative IPS propulsion system.With a keen focus on owner-centric design, every aspect of the Mangusta GranSport 33 reflects a harmonious fusion of functionality and elegance. From the panoramic glazed surfaces to the iconic infinity pool at the stern, every detail has been meticulously curated to enhance the onboard experience.Powered by four Volvo Penta D13 735kW engines paired with IPS pods 1350 drives, the Mangusta GranSport 33 boasts a shallow draught of only 1.9 meters, ensuring versatility in navigation without compromising on performance.Equipped with a spacious aft garage accommodating a large tender, water-skis, and an array of water toys, this vessel promises unparalleled leisure and entertainment options for its guests.Sold in collaboration with brokerage house HMY, this Mangusta GranSport 33, delivered to a U.S. owner, exemplifies the ongoing success and global appeal of the series. Overmarine Group was founded in 1985 by the Balducci family. The shipyard builds open and displacement power superyachts under the Mangusta and Mangusta Oceanco brand names. Credits: Overmarine Group
April 26, 2024
Van der Valk embarked on a monumental endeavor with the construction of Project EVO, a bespoke 40-meter superyacht. This ambitious project, the largest ever undertaken by the yard in terms of length and volume, promises to redefine luxury at sea. The owners were inspired by an exceptionally attractive design from Franco Gianni of SFG Yacht Design and Doga Naz Cebeci from Fancy by Dada, Project EVO boasts a sleek exterior and meticulously detailed interior.Ordered by seasoned clients with a penchant for high-performance vessels, Project EVO symbolizes the culmination of their yachting aspirations. With a vision to craft a tailor-made masterpiece for their family, the owners turned to Van der Valk, drawn by the promise of Dutch precision and excellence. The yacht's design journey, intricately guided by the owners, involved a transformative evolution led by Cristiano Gatto Design.Cristiano Gatto reflects on the project's inception, stating, “Our collaboration began with a shared vision to infuse the interior ambiance into the exterior design, culminating in a harmonious fusion of aesthetics.” The resulting profile, a synthesis of innovative proportions and lines, reflects the collective ingenuity of the design team.Beyond aesthetics, Project EVO is engineered to deliver unparalleled performance, with a round-bilged fast displacement hull and a target top speed of 24 knots. Compliant with ABS class standards and IMO Tier III emissions regulations, the yacht exemplifies Van der Valk's commitment to superior craftsmanship and environmental sustainability.<iframe title=vimeo-player src=https://player.vimeo.com/video/937794356?h=3c621b1611 width=640 height=360 frameborder=0 allowfullscreen></iframe>With accommodations tailored for ten guests across lavish staterooms and crew quarters, Project EVO promises a luxurious retreat at sea. Yoeri Bijker, head of sales at Van der Valk, affirms the yard's capability in delivering bespoke superyachts of exceptional quality, stating, “Project EVO epitomizes our dedication to excellence, offering clients the opportunity to realize their yachting dreams without compromise.” Van der Valk is a family-run company building comfortable, innovative and efficient (semi) custom motor yachts from 18m to 45m. From its humble roots in the 1960s, Van der Valk today has a global fleet of over 1000 motor yachts. Credits: Van der Valk
April 26, 2024
Northrop & Johnson has been named the exclusive sales broker by Ares Yachts for the globally anticipated sale of the shipyard’s flagship, Simena. Currently in the outfitting stage in Antalya, the 62-meter superyacht is slated for delivery in March 2025.“We are pleased to collaborate with such a reputable company,” states Kerim Kalafatoğlu, Chairman of Ares Yachts. “We trust Northrop & Johnson to introduce our remarkable flagship to the market and promote her effectively.”“Northrop & Johnson is honored to represent Ares for the sale of the magnificent 62m Simena, set for delivery in March 2025. Ares has established itself as a leading shipyard in Turkey with an exceptional track record of over 230 vessels. Simena presents a rare opportunity to acquire a yacht of exceptional quality at a competitive price,” says Patrick Coote, Europe Managing Director of Northrop & Johnson.Simena, Ares Yachts' 62-meter flagship, entered the outfitting stage in November. The completion of outfitting, including joinery work, will precede the installation of the rigging system.Kerim Kalafatoğlu and Patrick Coote“Exterior paintwork is in progress, and the superstructure and hull connection have been completed,” shares Piraye Sahinkaya Orhun, Managing Director of Ares Yachts. “Construction of the mahogany planking for the superstructure and doghouse is underway, along with the insulation, wiring, and piping from the aft crew accommodation.”Designed by Taka Yacht Design and Design Unlimited, Simena epitomizes classical and modern design elements. The vessel, designed to RINA Class C standards, boasts traditional teak decks and varnished Sipo Mahogany exterior joinery.Accommodating up to 12 guests and nine crew members, Simena offers luxurious onboard living. Its owner’s suite is strategically located forward on the main deck. Equipped with a sophisticated hybrid drive system, the yacht can operate silently under electric power at speeds up to 6 knots. Additionally, a 882 kW diesel engine complements her 220kW electric motors, allowing for a top speed of 14.5 knots and a cruising range of 4,000 nautical miles at 11 knots.To maintain the yacht’s clean interior aesthetics, modern design elements have been discreetly integrated, including hidden TV lifts in the saloon and master suite. Walnut forms the basis of the interior, complemented by textured leathers, fabrics, and antiqued brass accents. Showers feature a blend of patterned tiles alongside Calacatta Oro and Patagonia White marbles, offering a blend of contemporary comfort and classic elegance.Ares Yachts, situated in Antalya Free Zone on Turkey’s south coast, spans 40,000 square meters of build space across four large sheds. Besides Simena, the shipyard is concurrently working on other projects, including the 50m motor yacht Spitfire and a 54m explorer yacht known as Project Atlas. Additionally, Ares Yachts is developing a 65-85m yacht range in collaboration with Lateral Naval Architects.Credits: Northrop & Johnson
April 25, 2024