The Malaysian government has announced that the 91.5-metre Oceanco superyacht Equanimity would be sold to Genting Malaysia Bhd for $126,000,000. It was earlier revealed, that the vessel’s maintenance had cost the government over $3,500,000 since her reclaiming in August 2018.
Genting Group is a Malaysia-based investment holding and management company, engaging in the leisure and hospitality, oil palm plantations, property development, biotechnology, oil and gas businesses. The group’s market capital is estimated at $8.3 billion by Forbes as of June 2018.
The purchase price is to be paid to the Court by the end of April, and is little lower than the market evaluation done by Winterbothams at $130,000,000. The new price, however, halves the vessel’s original price estimated at $250,000,000.
Malaysia’s Attorney General, Tommy Thomas, revealed the information earlier today. “The Government of Malaysia is pleased to announce that the superyacht Equanimity is to be sold to Genting Malaysia Bhd or its special purpose vehicle (SPV) company at the price of $126 million,” he confirmed.
He also explained that Genting Group made the purchase directly from the government, without a broker, meaning that no agency commission will be charged on the sale. That will save around $4.4 mln for the Malaysian government.
The Malaysian government seized Low Taek Jho’s superyacht in August 2018, shortly afterwards putting it on sale as a part of the effort to recover funds stolen by Low and his cohorts from the state fund 1Malaysia Development Berhad, according to The Independent. That resulted in a speculation on the topic, making the vessel notoriously recognisable.
"This will rank as the highest recovery to date for the government of Malaysia from its 1Malaysia Development Bhd (1MDB) scandal, within a mere eight months from the commencement of this action," concluded Tommy Thomas.
Nonetheless, Equanimity was famous across the yachting community, well before being pushed into the limelight by this case. The vessel was also the first superyacht designed and built to be fully Passenger Yacht Code (PYC) compliant.
The yacht is trademarked with extensive spa area on the lower deck, plunge pools and customised interior. At 2,998 gross tons of interior volume, Equanimity still belonges to the league of the world’s largest yachts. She offers accommodation to up to 22 guests within 11 staterooms including 4 VIPs and a crew of 31.
The 5-deck superyacht incorporates several pools, massage areas, saunas, experiential showers, hammams, jacuzzis and a gym all designed with the most precious of materials, it directly connects to a beach club from which guests can swim out into the ocean.
Equanimity also comes complete with two custom-designed, 10-meter Hodgdon tenders to ferry around her guests in style. The yacht can cruise for up to 5,000 nautical miles at a speed of 15 knots, with her top speed reached at 18.5 knots.
Prior to the acquisition, Genting was known in yachting for their ownership of the Wider shipyard. The conglomerate first took a 50% stake in the company in December 2012 and bankrolled the build of their Project Cecilia of which they ultimately took delivery.
The Group increased its ownership stake in Italian shipyard to a 100% in 2017, through the cruise line Genting Hong Kong. Other yachting stakes for the group include nearly a quarter of Grand Bank Yachts, 15% of submarine manufacturer U-Boat and majority ownership of Lloyd Werft.
The new generation of 20-30-meter yachts is easier and cheaper to attract and attract a wide range of owners looking for one-day boats and short routes without the hassle of operating a superyacht.Another attraction of smaller yachts for this base was the ability to move faster from bay to bay with cruising speeds almost twice the speed of superyachts, and the ability to dock closer to shore. Sanlorenzo, the Italian shipyard, the most active in the range of up to 30 meters, was unveiled earlier this December with a market capitalization of 550 million euros and revenue of 355 million euros in 2018.The shipyard created such a series as Bluegame Sanlorenzo.Bluegame yachts are built in accordance with the latest and most advanced construction technologies from composite materials.The BGX project is the result of a prestigious collaboration between Luca Santella, the head of Design & Style and the head of product strategy at Bluegame, together with the design studio Zuccon International Project.These yachts focus almost entirely on outdoor and recreational spaces, minimizing the importance of dining rooms and large cabins.Another common feature of yachts in this new assortment is oversized tender and water facilities for the size of ships, which emphasizes the interests of the new generation of owners. After this trend, its key players saw that their ratings rose sharply compared to those stuck in the middle.
February 19, 2020
Designed by Tim Heywood as part of the Amels limited-edition line, the 62.5-meter superyacht is dressed in a light gray hull and a crisp white superstructure.Interior design is the result of a collaboration between Laura Sessa and the Amels interior design team. In the master suite, the owner can enjoy branded round windows and are accompanied by up to 11 additional guests.Other on-board features include two VIP suites on the bridge deck, a large sun terrace with a jacuzzi and teppanyaki grill, and a garage for two eight-meter tenders on the lower deck.Yacht Limited Editions will be one of six new assemblies for owners before the summer season.
February 19, 2020
The FB273 superyacht features a steel hull and an aluminum superstructure designed by Benetti.On board can accommodate up to 12 guests in six cabins. All are located on the lower deck and are decorated in a style designed by interior designer Laura Pomponi. Occupying six decks, on board you can select a geometric pool with a special function of changing the depth, a helicopter landing area, a large solarium and a rooftop jacuzzi.Owner's suite with a central staircase with an area of more than 120 square meters. M. With a panoramic view. The upper deck is occupied by a private living room, bathroom, sauna, open living room, home theater, gym and massage room. The owner’s office has a glass wall overlooking the interiors and is connected to the living room and balcony.The FB273 is powered by two 2400hp Caterpillar engines that develop the yacht to a maximum speed of 17 knots and provide a range of 5,000 nautical miles at a cruising speed of 12 knots.
February 19, 2020
Turkish studio Red Yacht Design presented a project - a 64.2-meter superyacht Ice Kite and a 28-meter Shadow Vessel ICE Ghost.Developed in conjunction with Dykstra Naval Architects, ICE Kite will be the longest yacht with a total length of up to 500 GT at the time of construction.A pair of 735 kW main engines provides Ice Kite with a maximum speed of 17.4 knots.On board Ice Kite can accommodate up to 10 guests in four comfortable cabins. Features of this superyacht include a beach club area with a swimming pool, an outdoor dining area for 12 people and a helipad on the bow.Downstairs is the Kite Lounge, which also functions as a dining room. There is glass from which a 180-degree view opens. Other interior features include an elegant spiral staircase and a special spa area.Ice Kite will be built with the project, Ice Ghost. The 26-meter yacht will serve as a specialized support vessel for Ice Kite.Ice Ghost can carry the Icon A5, the U Boatworx Superyacht Sub 3, a 12-meter specially designed RIB with a maximum speed of 60 knots, also developed by Red Yacht Design, and a couple of Seadoo jet skis on it. main deck. There is another garage for storing snorkeling equipment, SeaBobs and a maintenance area.The main deck of the Ice Ghost can also be used as a party venue, and two double cabins below the deck can accommodate guests or staff. Ice Ghost with a steel casing and carbon fiber exterior has a maximum speed of 16 knots.
February 19, 2020
Italian shipyard Sanlorenzo launches new 52 Steel yacht last month.Key features of the 52-meter motor yacht include a 94-square-meter beach club and a glass bottom pool. The beach club sits below the glass-bottomed pool and opens on three sides.The interior is designed in classic style.Lady Lena also has a 31-square-meter gym with direct access to the saloon of the main deck, a garage for unloading at the tender of 7.5 meters and a separate garage for lifeboats and toys.The 52 Steel model has a beam of 9.35 meters and is equipped with a pair of CAT 3512 C engines with a maximum speed of 16.5 knots. Accommodation for up to 12 guests and a crew of nine.
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February 18, 2020