Following a 40-month long refit process, December 2010 marked the launch of Attessa IV. At 100 meters in length she became Dennis Washington's newest flagship and the 9th yacht to be owned by the American billionaire.



Washington became acquainted with boating relatively late, according to one of his recent interviews, he stepped on a boat for the very first time in 1979, when he was 45 years old. His connection with the sea was however immediate, "I just loved the sound of being out on the water and being so relaxed" he told Forbes.  Soon after, he purchased his first boat, the 25.9-meter Wanigan III for $150,000. What sets apart Washington from most yacht owners is his interest in refitting yachts up to his high standards. A year and a half after the purchase of the Wanigan III, he began to rebuild it and sold it a couple of years later.

In 1992 he purchased Chieftain, a 105ft tug built in Glasgow in 1929 that had escorted British WW2 ships and had remained under the British flag for nearly 60 years. Washington had the yacht shipped back to Vancouver by his port captain, Fred Larsson, and started a lengthy process to create the most tastefully decorated tug afloat. Washington in fact even announced that the newly named St. Eval would remain in the Washington family for perpetuity. St. Eval can now often be found moored in Washington's private marina in Vancouver.


St. Eval

Also docked in Vancouver is the 36.4-meter Abeking & Rasmussen, Impromptu, which Washington purchased from Boeing. Before serving as Boeing's corporate yacht as Daedalus, Impromptu was owned by beer magnate, August Busch. After learning that Boeing was looking to sell, he purchased and refitted the yacht, which he still owns to this day.


Impromptu

The first yacht to be named Attessa became yet another one of Washington's rebuild projects. After purchasing the 130ft Yecats built by Kong & Halvorsen in 1984, Washington lengthened the yacht to 142ft and renamed it to Attessa. The yacht later appeared in the movie "Indecent Proposal". It was then sold to George Argyros and renamed to Huntress before catching fire and sinking off the coast of Greece in 1998.

Washington's second Attessa became a  Feadship launched in 1988 as Impromptu with a length of 43.4-meters. Following Washington buying the yacht in the 1990s, the yacht was extended by over 5 meters and renamed to Attessa II. The yacht was later reportedly sold to American billionaire, Wayne Huizenga who renamed her to Floridian. She then went through several changes of ownership until her current owners renamed the yacht to Mysorah and extensively refitted her once again.


Attessa II

Another vessel that is still part Washington's fleet to this day is Attessa III. Built by Feadship in 1998 as Lady Aviva for Joe Lewis, the 62-meter yacht caught fire in May 2000 in the Red Sea. With the owner and insurance company looking to get rid of it, Washington bought the superyacht and, after a 36-month long refit process at the Feadship De Vries shipyard, she reemerged as the fully rebuilt and extended 68m Attessa III. Completely transformed, Attessa III featured the largest composite extension in yachting history. Washington still owns the yacht to this day and keeps her on America's west coast. 


Attessa III

Washington's most ambitious project however began just under two years later after Attessa III's launch. Having become aware that Taiwanese shipping billionaire, Chang Yung Fa was looking to sell his 91-meter Evergreen, Washington flew out to Taiwan to inspect the hull in 2007. "Chairman Chang built the boat like a warship, but it was not attractive structurally. I thought it would be a great project." he told Forbes. The American billionaire bought the yacht and sailed it to his Vancouver facility for a refit.


Evergreen

The refit process involved a new superstructure shape, interior layout, helipad and tender garage, which resulted in a completely new vessel. Lengthened by almost 10 meters, Attessa IV became the 24th largest in the world at the time of her relaunch in 2010. Amongst her standout features are a spa on the lower deck, a private cinema, a helipad and a multi-purpose room on the yacht's sundeck with a Chihuly chandelier under a glass dome.


Attessa IV

Latest News

CRN launch 74m Cloud 9
CRN Yachts, part of the Ferretti Group, have confirmed the launch of Cloud 9. The 74-meter Cloud 9 becomes the shipyard's second largest yacht to date, outranked only by the 80-meter Chopi Chopi.With an exterior by Zuccon and an interior by Winch Design, Cloud 9 is able to accommodate up to 16 guests (12 when chartering) in a master suite, a VIP suite and 6 guest cabins catered to by a crew of 22.Focused on a free interior-exterior flow, Cloud 9 boasts over 1,000 square meters of liveable space. Amongst the yacht's key amenities are a private deck, complete with an intimate lounging area, forward of the master cabin, an extensive beach club with an extended platform From a technical standpoint, the yacht is featured by twin Caterpillar 3516C engines of 2,680 hp each, giving Cloud 9 a maximum speed of 16.5 knots and a cruising speed of 15 knots.The owner's previous Cloud 9 was a 60-meter CMN built in 2009 and sold in June 2015 at an asking price of €34,900,000. She has since been renamed to Ice Angel, a name previously held by a 50-meter Heesen, which is currently on the market asking €24,500,000.
How much does a superyacht actually cost?
Yachts are hardly a mass market product and yet the superyacht market has carved out a niche in being even more exclusive, but how much does a yacht cost to build, buy or rent? Let's take a look at the current state of the market.Since the 1980s the amount of superyachts, ie yachts over 24 meters, has grown 600% with the worldwide fleet now counting over 10,000 vessels compared to around 1,500 in 1979. Deliveries of large sailing yachts have however remained constant throughout the decades with around 45 S/Y built per year since the 70s.This exponential growth was brought mainly by the construction of motor yachts. Indeed, the ratio of M/Y to S/Y built has exploded from 2 in the 1980s to a whooping 7 motor yachts delivered for each sailing yacht under construction today. As a result sailing yachts have often retained value better than their counterparts.The expansion of the worldwide fleet of superyachts has also had another significant effect, the accelerated depreciation of yachts on the brokerage market. A 43-meter Benetti Vision 145 could for example be built at a cost of €21,9 million in 2014 whereas a 10-year old model in mint condition such as M/Y Dia's could be bought for just €8 million on the brokerage market.This large difference in price is however not unique to this case and can be found across almost all yacht manufacturers. Heesen, a well-known Dutch shipyard, is currently selling its 47-meter Project Ruya for €29,9 million. Its 2012 sistership, Lady Petra is however up for sale at the same time asking €22,500,000, down from her initial asking price of €31 million when it was first listed for sale in 2014.On top of the initial purchase price must however also be added the yearly maintenance fees amounting to roughly 10% of the initial price of a new build. For a 55-meter yacht for example, this would represent close to $3 million per year.Crew salaries today represent the largest of those expenses with the starting salary of a deckhand onboard a 50-meter yacht orbiting around $40,000 per year and going over $200,000/year for captains on larger yachts. The balance sheet is further burdened with fuel costs, repairs and operating costs such as uniforms and food for the crew.To offset the operating costs, some owners turn to renting out their yachts to guests, which has created a market with near 1,400 yachts for charter throughout the world. Before the subprime crisis, these could represent a genuine business opportunity with some UHNWIs even building superyachts with solely charter in mind.Few yachts are however able to fully recoup their maintenance costs in today's market. The 72-meter Axioma for example, one of the most popular charter yachts on the market, generated over €7 million in revenue from charters in its first year alone. Yet, its current asking price of €68 million suggest these have barely outperformed operational costs.Many have therefore claimed that chartering a yacht has become the only financially justifiable option. It can indeed be argued that a like-new, 50-meter yacht could be chartered for near €250,000 per week during the summer season. To those would be added around 25% in fees of advanced provisioning, which would cover food, fuel, berthing fees and other expenses whilst charter guests are on board.Annual operating costs of such a yacht would be near €2 million per year, which equates to nearly 6 and a half weeks of charter. It would therefore seem one would need to spend at least two months onboard to justify the operating costs, let alone the full purchase price. Yet, every year, dozens of new build projects are started despite this financial reasoning.Prior to the 2008 crisis, an industry of yacht flippers had emerged with clients buying a slot for a superyacht at a prestigious shipyard and then reselling the yacht slightly before its launch. US businessman, Warren E. Halle had ordered 3 yachts from Lurssen in 2003, which he paid for €48 million a piece plus the cost of interior finishing. As following legal proceedings revealed, he later sold the first yacht (Project Marlin) for €65 million in 2006, the second one for €71,5 million in 2008 and kept the third one (Martha Ann) for himself, which is now on the market asking $79 million.This market has since evaporated with many shipyards that had committed to build on speculation, in order to retain ownership of their slots throughout the construction, facing difficult financial times. Italian shipyard Baglietto posted losses of €105 million in 2009 and was ultimately only saved by the Gavio Group, which brought it back to financial stability. Yet, despite this turmoil, at least 700 superyachts are currently under construction.The megayacht market is at the moment particularly strong with at least 6 projects over 100 meters currently in build at Lurssen alone and several other shipyards working on their largest yachts to date such as Benetti and Feadship. Historically this high demand for megayachts in the past decade has allowed their sales prices to remain higher than construction prices due to the gains in time a brokerage purchase offered.In 2011 for example, the late Russian oligarch, Boris Berezovsky managed to sell his Project Darius, under construction at Lurssen at the time, for €240 million to the Al Futtaim. He had however paid just €148,5 million, plus interior finishing costs, for the project as became known in a legal process that followed.A growing concern for superyacht builders has however become the increasing gap between the increasing number of individuals with a net worth of over €250 million and the stagnant number of new build projects. Some have speculated that a possible explanation for this shift is a disinterest with the new generation of younger UHNWIs to own yachts and an increasing preference to charter by picking from an ever-growing fleet.Dutch shipyard, Feadship has however delivered the 70-meter Joy, first yacht to boast an exterior design by Bannenberg & Rowell in modern history, to their youngest client yet. As a testament to her owner's young age, the superyacht features a basketball court on the bow and a gym surrounded by glass walls on the bridge deck.Despite all the financial reasoning that might nudge UHNWIs to charter rather than own, over 350 superyachts were sold in 2016 showing that the reasons behind owning a yacht might actually be dominated by the pleasure and freedom that owners get from their own superyacht.
Royal Huisman expands their shipyard facilities to Amsterdam
Royal Huisman is proud to announce their intention for the exclusive use of the facilities of Holland Jachtbouw (HJB) in Amsterdam following the anticipated termination of business by HJB after the passing away of founder Chris Gongriep.Together with Royal Huisman’s purpose built home base in Vollenhove on an area of over 30,000 sqm (consisting of 5 main shipbuilding halls) and the use of Emden Dockyard in Germany (surface of 300,000 sqm), the modern 12,000 sqm facility of HJB in Amsterdam incorporates 3 state-of-the-art halls with a maximum length of 60m, all overlooking 120m of waterfront with convenient access to open sea, all available for new-build, refit and commissioning.We regret to see a yard like HJB eventually cease to exist, but we do hope that with the intention of Royal Huisman to acquire the facilities we are able to keep the Netherlands firmly on the map for superyacht owners, keeping in mind our plans for diversification in the motor and sailing yacht sectorRoemer Boogaard, managing director of Royal HuismanIn November 2016 Royal Huisman's dedicated refit department, Huisfit, secured exclusive and exceptional deep water facilities at Emden Dockyard.
Work in progress on the first CCN K40 explorer Kanga
Italian shipyard Cerri Cantiere Navali has shared the construction update on its new K Series explorer yacht, 41 metre Kanga. Floating Life, who are managing the project, announced the sale of the yacht in 2015 and the build started in January 2016. Commissioned by the American owner, who plans to cruise around the world all the way up to the Poles, Kanga is being built to RINA standards. The yacht can sleep up to 12 guests in 5 staterooms, including an owner’s cabin, two double rooms and two twin rooms with Pullman berths, as well as a crew of 11. The tri-deck displacement yacht also has a 9.4m beam and features naval architecture by Vannini-Oleggini Naval Design. Designed by Studio Sculli, Kanga boasts wooden wall panelling with geometric shapes.Performance wise she will be fitted with a pair of 1,450hp Caterpillar C32 ACERT diesel engines, providing the yacht with a top speed of 16 knots. Thanks to her total fuel capacity of 65,000 litres, Kanga will have a maximum range of 5,400 nautical miles at 10 knots cruising speed.The yacht is expected to be completed before the end of the year.
Top 10 stories of the week
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She became Alisher Usmanov's, one of the Russian billionaires shaping the yachting industry, third yacht. 156m Dilbar, launched at Lurssen facility in November 2015, has officially become the world's largest yacht by volume with a gross tonnage of 15,917 tons, toping Al Said's 15,850 tons and Azzam's 13,136 tons. With a beam of 23 meters and a deep draft of 6 meters, the yacht's exterior was designed by Espen Oeino. Cabling used on board stretches over 1,100km with guests and owner's spaces totaling a combined 3,800 square meters of living space.3. Below Deck: the reality show that chartered 5 yachts in 4 yearsLaunched by Bravo in July 2013, Below Deck followed the lives of several yacht crew members during a charter season in no less than 53 episodes. For each season, producers chartered a different 50 meter yacht but however didn't always release the real names of these boats, which were altered for the show.4. Sabdes Design presents 85m concept in refreshing colourAustralian yacht designer Scott Blee has introduced his latest creation, 85m highly efficient and modern superyacht, developed by Sabdes Design studio, in October 2016. Now the studio has shared the renderings of its new yacht design seen in the Pantone Color Institute "colour of the year 2017" called "Greenery" (Pantone 15-0343). 5. The battle for the title of largest sailing yacht in the worldThe debate over what sailing yacht could claim the sough-after title of largest sailing yacht in the world has been a long and tedious one in yachting and with a few possible contenders in the running and more in build, it looks like the battle isn't over yet.Indeed, whereas it is clear that 180-meter Azzam is the longest yacht in the world and Dilbar is the most voluminous, both of these are motor yachts. With sailing yachts, the ranking is however much more opaque due largely to the measurement that is used.Loaded waterline length, known as LWL, is the measurement of the length of a vessel from the points where it sits in the water. On the other hand length overall, abbreviated as LOA, is defined as the maximum length of a yacht's hull, which for sailing yacht also includes the bowsprit, a key factor when measuring a sailing yacht and part of the difficulty in this ranking.6. 70m Rossinavi superyacht King Shark soldItalian shipyard Rossinavi has sold their 70-meter motor yacht project, King Shark. Capable of navigating in conditions of extreme ice, she will have a range of 6,000 nautical miles and a top speed of 17 knots. While there have been other motor yachts introduced to the market with ice exploration capabilities, King Shark’s point of difference is that it has been developed with an emphasis on yachting lifestyle, able to move from the warm waters of the Caribbean to the sub-zero conditions of Antarctica.7. Amels superyacht Here Comes The Sun deliveredThe largest Amels superyacht to date emerged at its facility in Vlissingen at the end of June 2016. And now we've been informed that the vessel has left the Netherlands for international waters. HERE COMES THE SUN is powered by twin Caterpillar engines 3,150hp each, providing her with a maximum speed of 17 knots. The superyacht has a maximum cruising range of 5,500 nautical miles when cruising at 15 knots.8. M/Y A spotted in Abu Dhabi, the UAELast year M/Y A, which is reportedly for sale at $300 million, has been spotted in such cities as Amsterdam, Rotterdam, Kiel, Bordeaux, off the Reykjavik coast in Iceland and cruising in the French Riviera. Now the most talked-about yacht on the seas has been seen in Emirates Palace Marina in Abu Dhabi, the UAE. 9. First Wally 93 sailing yacht in buildWally has announced the expansion of its range as the Monegasque brand sells the new cruiser-racer Wally 93, developed for an existing Wally owner who is a keen racing yachtsman. The yacht features the latest hull lines with the distinctive large stern and big interior volumes, resulting into the new generation cruiser-racer, superfast and very comfortable, and providing the ultimate experience in high performance sailing. The new Wally 93 is currently under construction using the most advanced composite technology, to provide for the super reduced displacement and increased rigidity.10. First Amer 110 yacht under constructionAmer Yachts has announced that the first Amer 110 yacht is under construction at the Italian shipyard's facilities. Destined for a special client, who has already bought three Amer Yachts in five years: a 92’, an Amercento and now the Amer 110’, the vessel will be launched in Spring 2017.