Privilege Yard has now been acquired, after multiple failed auctions, for just over €6 million by Royalton Investment, the parent company of SSH Maritime. The Italian yard initially went bankrupt when it failed to repay a €210 million debt.
In early 2014 it had emerged following multiple reports in Italian media that Privilege Yard, a shipyard based in Civitavecchia was in financial distress. These reports of unpaid wages might have gone unnoticed if it wasn't for the 127m project the shipyard was working on at the time.
The P430's construction started in 2008 with financial backing from the yacht's future owner and a consortium of five Italian banks. The yacht's construction was taking place at a 65,000 square-meter facility in Civitavecchia that Privilege Yard spent close to €40 million on according to Il Sole.
At the time, the shipyard claimed it had near 1,300 employees and 9 orders for yachts of similar sizes lined up. The effort was led by Mario La Via, an Italian entrepreneur involved in the construction of several yachts, the most notable of which was the Kingdom 5KR (largest yacht in the world at the time of launch).
Designed by Abdeslam Laraki, the P430 was expected to be launched by the end of 2012. In December 2012, it was however divulged that one of the banks (Banca Etruria) had encountered problems and put a stop to the project's financing. The shipyard had received a loan of €100 million from these banks according to Repubblica. The project was later self-funded by La Via, according to a statement by the shipyard, but construction eventually stopped in March 2014.
The gates were then reported to be locked at the shipyard in June 2015 by the Court of Civitavecchia after the company failed to settle its €210 million debt. The next development in this story came in June 2016 as the first auction came to a close without a buyer. The starting price was set at €94 million for the shipyard's facility and its assets, including the P430.
"82% complete financially" according to an advert placed by the shipyard marketing the P430 for sale at an asking price of €279,000,000, the yacht has over €80,000,000 in upgrades. This brochure used to market the yacht at the 2014 MYS listed a 550 square meter owner's apartment and several swimming pools amongst the Privilege One's key amenities.
In August 2016, La Via and Antonio Battista, CFO of Privilege Yard, were placed under house arrest after alleged fraudulent bankruptcy fillings. According to La Nazione, La Via and his team were accused by Civitavecchia prosecution of sending at least €63 million to an offshore bank account in the British Virgin Islands.
The newest development in this story now comes as Royalton Investment, the holding company behind SSH Maritime, acquired Privilege Yard for over €6 million on October 22nd. The company, led by Jimmy Frangi, its CEO, has been known to participate in large scale refit projects such as the 86-meter Chakra and 72-meter Serenity. Prior to the yard acquisition, it had already purchased the unfinished new-build back in 2017 at an undisclosed valuation.
Camper & Nicholsons has been appointed central agent for the sale of the 40.05-meter Sunseeker motor yacht Berco Voyager. Built in 2018, the vessel is offered at €13.9 million with VAT paid. Sales advisor Maël Fiolet is handling the listing.The yacht represents one of the final hulls in Sunseeker's 131 series, featuring upgraded interiors and specifications exceeding standard models. The current owner has maintained the vessel with additional custom features distinguishing it from sisterships.Berco Voyager accommodates 10 guests across five cabins with crew quarters for seven personnel. The yacht has demonstrated charter operational capability and includes extended engine warranty coverage.Currently located in Sardinia, the vessel will relocate to Southern France for the upcoming show season. The listing presents a rare opportunity to acquire a 40-meter Sunseeker with proven charter history and comprehensive maintenance records.Since 1969 Sunseeker Yachts has built composite semi-custom yachts from 12m to 47m. The shipyard's main facility is located in Poole.Credits: Camper & Nicholsons
August 20, 2025
American shipyard Hargrave Custom Yachts has unveiled a new 36.5-meter design in its 120 Series, featuring exterior and interior styling by Italian designer Patrizio Facheris. The raised pilothouse model represents a departure from the yard's typical in-house design approach.Constructed in carbon-reinforced E-glass epoxy composite, the yacht meets RINA Pleasure classification standards. The vessel accommodates 12 guests and 7 crew members, with a 7.6-meter beam and 1.9-meter draft. Light displacement measures 130 tons.Performance specifications include twin Caterpillar C32 engines producing 1,900 horsepower each, enabling a maximum speed of 21.5 knots and a cruising range of 945 nautical miles. The electrical system incorporates twin Northern Lights 56kW generators with 120/208 VAC power distribution and 24V DC engine starting.Exterior finishes feature hand-laid Burmese teak decking with non-skid paint options. Hull and superstructure coatings utilize AWLGRIP and International products for durability.Hargrave includes a six-month management package with each sale. The vessel remains available for inspection ahead of its Cannes showing.Credits: Hargrave Custom Yachts
August 20, 2025
Damen Yachting has simultaneously delivered two vessels to a single owner: the 60-meter Xplorer After You and the 53-meter Yacht Support Emotional. Both yachts were constructed at Damen's Antalya shipyard with Dutch engineering support and brokered by TWW Yachts.The Xplorer 60 is designed for global exploration ranging from polar regions to Mediterranean destinations. The Yacht Support vessel provides additional crew accommodations, toy storage, and helicopter facilities to complement the main yacht's operations.Jorrit Pilaar, Damen Yachting Sales Manager, stated: "It was an absolute pleasure working with the team of TWW Yachts over the last months to get the first Xplorer 60 and the 53-metre Yacht Support ready for delivery."Enrique Tintore, Product & Design Manager, added: "This double delivery is a landmark moment for Damen Yachting," acknowledging collaboration between the company's Antalya and Vlissingen facilities.David Westwood, CEO of TWW Yachts, noted: "Their technical proficiency and reliability as a supplier allowed us to focus on the Owner's priorities with complete confidence."Both vessels will appear at next month's Monaco Yacht Show before beginning operational service. The delivery represents Damen Yachting's continued expansion in the expedition yacht and support vessel market segments. The Xplorer series (formerly SeaXplorer) and Yacht Support vessels complement Damen's existing Amels superyacht portfolio.Damen Yachting, the yacht-building division of Damen Shipyards Group, employs approximately 500 professionals across its Amels, SeaXplorer, and Yacht Support vessel programs. No purchase price was disclosed for the new build.Credits: Damen Yachting
August 20, 2025
Tureddi Group has sold the first superyacht under its recently established Tureddi Yachts brand. The 36-meter Azzurra is currently under construction with delivery scheduled for 2027. Worth Avenue Yachts brokered the sale and will provide project management during construction.The steel and aluminum yacht features exterior design by Italian studio Giamboi Design and naval architecture by Dutch firm Van Oossanen Naval Architects. The interior designer remains undisclosed, described only as a "renowned international design house" by the shipyard.Project details remain confidential, though the yard references a "wide beam, generous volume and high-level specification" incorporating latest marine technologies. Worth Avenue Yachts' Europe managing partner Mathieu Bardon stated: "This sale represents an incredible collaboration between all parties involved, supported by the trust of the buyer through a long-standing relationship."The sale marks Tureddi Group's transition from component supplier to independent yacht builder after 40 years in the marine industry. Company president Alessandro Tureddi noted the significance of this milestone for the family-owned business.The Italian shipyard recently expanded its portfolio with two new designs currently available for sale. Construction progresses at Tureddi's facility with the Azzurra representing the brand's inaugural superyacht project.Credits: Tureddi Group
August 19, 2025
William J. Healey, co-founder and former president of Viking Yacht Company, passed away on August 14, 2025 at Shore Medical Center in Somers Point, New Jersey. He was 97 years old.Healey established Viking Yacht Company with his late brother Robert T. Healey Sr. on April 1, 1964, building the New Gretna-based operation into a leading manufacturer in the recreational marine industry. Under his leadership, the company became known for its luxury yacht production and innovative workplace practices.Healey maintained direct relationships with employees, personally greeting workers by name as they left the factory each evening. He implemented comprehensive employee benefits including an on-site health department providing free medical care to workers and their families.The industrialist pioneered several manufacturing advancements, including a tri-generation facility for power generation, wastewater treatment systems, and early adoption of computer numerical control technology. He oversaw installation of solar panels on company buildings and invested in advanced manufacturing equipment including a $1 million five-axis CNC router.Healey retired in October 2013, succeeded by his son Patrick, but maintained regular presence at the New Gretna facility. His brother and co-founder Robert Healey Sr., who led the successful campaign to repeal the federal luxury tax on yachts, predeceased him in 2021.Viking Yacht Company continues operations under family leadership, maintaining its position in the luxury yacht market. The company's New Jersey facility remains one of the largest yacht manufacturing operations in the United States.Credits: Viking Yacht
August 19, 2025