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.
Pershing celebrates four decades of operations, highlighting its evolution as a brand known for revolutionary yacht designs, advanced technology, and high performance. Founded in the early 1980s by Tilli Antonelli, Fausto Filippetti, and Giuliano Onori, the company initially focused on repairing laminated wood boats. A turning point came in 1985 with the launch of the Pershing 45, developed in collaboration with designer Fulvio De Simoni. This model combined speed and spaciousness, establishing Pershing as a leader in innovation.In 1998, Pershing joined the Ferretti Group, expanding its global presence. The brand further strengthened its international reach in 2012 under the Weichai Group, with notable growth in Asia, America, and Europe. Pershing has consistently introduced groundbreaking technologies, such as surface-piercing propeller systems and water jets with gas turbines, exemplified by the 5,100 HP Pershing 115 in 2004.The current fleet includes the Generation X series (5X–9X) and the GTX range (GTX116, GTX80, GTX70), balancing performance with comfort. The Pershing 140, the brand’s first all-aluminum superyacht, represents its most ambitious project to date.Production takes place in Mondolfo, Italy, at an 84,000-square-meter facility featuring advanced manufacturing and testing capabilities. The site includes dedicated areas for different model ranges, with processes such as PPG-certified dry painting ensuring high-quality finishes."By introducing technological innovations, unveiling revolutionary models, and evolving the brand’s storied shipyard, for forty years Pershing has continued to look beyond the horizon, to where the sea meets the future," the company stated.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
June 24, 2025
Overmarine Group has launched the fifth hull in its Mangusta Oceano 50 series, a 50-meter displacement yacht measuring just below 500 GT. The vessel features exterior and interior design by Alberto Mancini in collaboration with the shipyard's technical department.The yacht's layout emphasizes indoor-outdoor connectivity through floor-to-ceiling windows and expansive glazing. Accommodation includes five cabins, with a full-beam master suite on the main deck featuring an automated balcony. The lower deck houses four guest cabins and a gymnasium.Outdoor amenities comprise three connected beach club terraces, two swimming pools (including a 6.5×2.6-meter pool with countercurrent system), and multiple lounge/dining areas across the decks. The sun deck infinity pool creates a visual connection with the horizon.Power comes from twin MTU 12V 2000 M86 engines (1,700hp each), delivering a 16-knot top speed and 4,500-nautical-mile range at 11 knots. Moran Yachts facilitated the sale of this fifth Oceano 50 unit.The launch follows four previous deliveries in the Oceano 50 series since its introduction. 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
June 23, 2025
Horizon Yachts has completed construction of the 15th hull in its FD80 series, a 24.6-meter motoryacht that will make its European debut at both the Cannes Yachting Festival and Monaco Yacht Show in September. This marks the first FD80 model specifically configured for the European market.The yacht features design collaboration with Dutch designer Cor D. Rover, incorporating an open-plan interior layout with floor-to-ceiling windows. Interior finishes include bleached teak and brushed gunmetal detailing throughout the cabinetry. The owner has specified several custom features, including large-format televisions in both the main saloon and master suite.Accommodations are arranged for eight guests across four staterooms, with a full-beam master suite on the main deck and three additional guest cabins below. The crew area accommodates four staff with direct access to the beach club.Exterior spaces include multiple social areas, with a hot tub and teppanyaki grill on the bridge deck, along with flexible aft deck space that can serve as either a lounge or tender storage area. The foredeck features a dining setup with sunpads.Powered by twin MTU engines, the yacht incorporates Horizon's Skyline superstructure design and a fully enclosed wheelhouse. The FD80 will be available for viewings at both European boat shows before delivery to its owner. The Fast Displacement series represents a significant portion of Horizon Yachts' current production output.Founded in 1987, Horizon Yachts has celebrated 35 years as one of the largest luxury yacht builders in the world as well as the number one builder in the Asia Pacific region. In the past three decades, Horizon has delivered over 855 luxury yachts, with more than 220 of these over 80 feet in length. Popular models ranging from 52 to 150 feet include motor yachts, superyachts, power catamarans, expedition yachts, and fast displacement motor yachts.Credits: Horizon Yachts
June 23, 2025
Dutch submersible manufacturer U-Boat Worx celebrates its 20th anniversary in 2025, having delivered 60 submarines worldwide since its 2005 founding. The company specializes in private, scientific, and commercial underwater vehicles, with models ranging from personal submersibles to research vessels."Since inception, the company has logged tens of thousands of dive hours," stated Wilbert Beilsma, Commercial Director at U-Boat Worx. The manufacturer maintains service hubs in Curaçao, Europe, and the U.S., providing lifecycle support including pilot training and spare parts for all models.Technical innovations include full acrylic pressure domes and lithium-ion battery systems. U-Boat Worx offers multiple ownership options: full purchase, leasing, wet lease (with crew), and charter arrangements. The company's submersibles are compatible with superyacht platforms, with integration services available.Current operations span private exploration, marine research, and emerging defense applications. "We remain driven by the same spirit that launched our first submersible," said Marketing Director Roy Heijdra. The manufacturer continues developing new models while supporting its existing fleet of operational submarines.Founded in 2005, U-Boat Worx leads the global market in designing and manufacturing submersibles for private, research, and cruise industries. With over 60 operational units worldwide, the company prioritizes safety, performance, and comfort, continuously innovating underwater exploration technologies.Credits: U-Boat Worx
June 23, 2025
The newly delivered Benetti Oasis 34 motor yacht Y has entered the brokerage market with Mark Seaton of Yacht. The 34.4-meter vessel was delivered in May 2025 and remains under full shipyard warranty. Currently berthed at Benetti’s shipyard in Viareggio, Italy, the yacht is available for immediate delivery.Designed by RWD, the Oasis 34M series features a distinctive Oasis Deck with fold-down bulwarks, a glass-sided infinity pool, and a spacious beach club area. The yacht’s streamlined profile, extended overhangs, and open-plan layout reflect Benetti’s approach to indoor-outdoor living.The interior design, created by Bonetti/Kozerski Architecture of New York, combines warm greys and natural tones with contemporary elements. The accommodation includes five staterooms for up to 10 guests, with a full-beam owner’s suite on the main deck and four guest cabins below. The crew quarters can accommodate seven staff members.The 269 GT yacht is powered by twin 1,380hp MTU diesel engines, providing a top speed of 16 knots and a cruising speed of 14.5 knots. The vessel sails under the Marshall Islands flag. The asking price for the yacht is €17,500,000, excluding VAT. It represents the only Benetti Oasis 34M from 2025 currently available on the market worldwide. The vessel was built under the supervision of experienced owners and a leading maritime consultancy, ensuring high-quality construction and finishing.Credits: Yacht Harbour Archive
June 20, 2025