Search operations are ongoing for Mazu Yachts co-founder Halit Yukay following a collision between his yacht and a cargo vessel in the Sea of Marmara.
Yukay, 43, was travelling from Yalova to the Greek island of Mykonos when the incident occurred. His family reported him missing on Monday, 4 August. The wreckage of his yacht, Graywolf, was later found off the coast of Marmara Island. Rescue teams, including divers, have been working in the area since, but no trace of Yukay has yet been found.
"The privacy of Mr. Yukay’s family and Mazu Yachts’ team members remains a priority during this time," the company said in a statement. "We are deeply grateful for the thoughts, prayers, and support extended to us. Verified updates will be shared through our official channels as they become available."
Yukay co-founded Mazu Yachts in 2011, initially focusing on chase boats before expanding into the semi-custom yacht sector. The yard’s portfolio includes models such as the 24.9-metre Mazu 82 and the 40.2-metre flagship 132 DS. Its 28.5-metre Waterlily was a finalist at the 2024 BOAT International Design & Innovation Awards.
"Halit is a friend and a constant source of inspiration and bold ideas," said Nicola Pomi, head of Volvo Penta’s yacht division. "Today, while we hope and wait, we hold on to his spirit. We are closely following the ongoing search and rescue efforts, and our thoughts are with Halit, his family, and the Mazu team."
Credits: Coast Guard Command (Turkey)
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
The Sunreef 80 sailing catamaran Ahava has been introduced as a yacht combining retro-inspired interiors with features designed for extended cruising comfort.The main salon is finished in neutral tones with walnut accents and large windows. The space includes a lounge area and a dining section, while a galley-down layout separates food preparation from guest areas. Accommodation comprises a master suite with sea views and two forward guest cabins, with additional crew quarters for four.Outdoor spaces include an aft cockpit for dining and the Ocean Lounge, which features a hydraulic platform providing access to the water and storage for water sports equipment. The flybridge is equipped with sunpads and a bar, intended for use both during the day and in the evening.The Ahava is part of Sunreef’s 80-foot sailing catamaran range, designed to offer a balance of private indoor living areas and open-air social spaces for owners and guests.Credits: Sunreef
August 14, 2025
Northrop & Johnson has facilitated the sale of the 54-meter Benetti motor yacht Starfire, represented by broker Carl Sputh. Built in 1997, the steel-and-aluminum vessel has undergone two major refits (2019 and 2023) that included mechanical updates and interior renovations.The yacht accommodates 14 guests across six staterooms with crew quarters for 14 personnel. Recent upgrades comprised a 12,000-hour engine service, new stabilization systems, updated technology infrastructure, and refreshed interior finishes. Starfire maintains Lloyd's classification certification following its most recent special survey.Performance specifications include a 12-knot cruising speed and 15-knot maximum speed with fuel consumption of 64 gallons per hour. The vessel's design emphasizes crew functionality with dedicated workspaces and separate lounge/dining areas.The Starfire transaction represents continued activity in the secondary market for well-maintained superyachts with recent refit histories. Northrop & Johnson's involvement underscores the brokerage's presence in the 50-60 meter segment. Both yachts demonstrate the enduring value of robust engineering and periodic upgrades in maintaining vessel competitiveness across decades of service.Founded in 1873, Benetti is the oldest Italian shipyard specializing in luxury yachts. Benetti designs, builds and sells composite vessels from 29 to 44m and steel and aluminum boats from 37 to over 100m. The fleet consists of five categories: Class, Oasis, B.Yond, B.Now and Custom to meet all the needs of the market. Benetti belongs to the Azimut|Benetti Group, the largest privately owned luxury yachting group in the world.Credits: Northrop & Johnson
August 13, 2025
The Italian Sea Group (TISG) has reported decreased financial performance for the first half of 2025, citing geopolitical tensions and economic uncertainty. Revenue declined 1.4% year-on-year to €186.8 million, while net profit fell 58% to €12.2 million, partly due to the absence of a capital gain from the 2024 Viareggio shipyard sale.CEO Giovanni Costantino attributed the results to "ongoing geopolitical and economic tensions," specifically noting U.S. protectionist policies as contributing factors. The company maintains an order backlog of €1.19 billion as of June 30, 2025, slightly down from €1.24 billion at year-end 2024.Key financial metrics include:EBITDA of €30.4 million (16.3% margin), down 6.3%EBIT of €25.6 million (13.7% margin), down 4.5%Net debt position of €63.2 millionThe group delivered four yachts during the period - three Admiral models (55m, 66m, 78m) and one 60m Perini Navi. Shipbuilding revenues increased 3% to €172.6 million, while refit revenues declined 52% to €10.9 million as the company prioritized new construction.TISG has revised full-year 2025 guidance, now projecting revenue between €350-370 million (down from €410-430 million) and EBITDA margin of 16.5-17.0% (previously 17.5-18.0%). The company secured €115 million in new long-term financing during the period to support operations.Upcoming projects include the debut of several flagship models at Monaco Yacht Show 2025, including the 72m Admiral Giorgio Armani and 60m Perini Navi sailing yacht. The group continues developing strategic partnerships with Armani and Lamborghini to strengthen its ultra-luxury positioning."Despite current challenges, we remain confident in our ability to finalize ongoing negotiations by year-end," stated Costantino. "Our design excellence and customized approach continue to differentiate our brands in the global market."The Italian Sea Group is a global operator in the luxury yachting industry, listed on Euronext Milan (“EXM”) and active in the construction and refit of motor yachts and sailing yachts up to 140 meters. The Company, led by Italian entrepreneur Giovanni Costantino, operates on the market with the brands Admiral, renown for elegant and prestigious yachts, Tecnomar, Perini Navi, and Picchiotti; the Company has a business unit, NCA Refit, that manages the maintenance and refit services for yachts and mega yachts with a length over 60 meters. Credit: The Italian Sea Group
August 13, 2025
The 40.6-meter explorer yacht ZeXplorer has been sold and renamed Arya in a transaction facilitated by Fraser Yachts. Marco Fodale of Fraser Monaco introduced the buyer, while Antoine X. Larricq from Fraser Monaco and George Bourgoignie from Fraser USA represented the seller in the deal.Originally built in 2013 by Newcastle Shipyards in Florida, the steel/aluminum expedition vessel underwent extensive refits between 2020-2023 that included a hull extension and complete mechanical system overhaul. The ice-classified yacht features exterior design by Sparkman & Stephens and interior styling by Oversee Yachts, with naval architecture developed through collaboration between Sparkman & Stephens and Boksa Marine Design.The 430 GT vessel accommodates 12 guests across six staterooms, including a full-beam master suite on the lower deck and a VIP stateroom on the bridge deck. Interior designer Christina Norris completed a comprehensive redecorating project in 2022, incorporating rich mahogany wood panels, white headliners, and light wool carpets over black oak floors. Large stormproof windows throughout provide abundant natural light in the main salon, dining area, and lower deck spaces.Recent technical upgrades included installation of new propulsion systems and modernized operational equipment, along with updated entertainment systems throughout the yacht. The refit also added Quantum zero speed stabilizers to ensure comfortable cruising in various sea conditions.Power comes from twin Caterpillar C32 engines that deliver a cruising speed of 10.5 knots and maximum speed of 13.5 knots. The yacht's robust construction includes an ice-strengthened steel hull designed for worldwide operation in all latitudes.Outdoor amenities feature multiple deck areas including an aft deck lounge, sun deck with hot tub and bar, and an expansive tender storage area capable of accommodating two 8-meter tenders plus additional water toys. The bridge deck includes a skylounge and dedicated fitness area.The vessel was listed at $10 million at the time of sale.Credits: Fraser
August 13, 2025