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.
Pearl Yachts has established a new French dealership, Pearl France, with an office in Antibes. The facility is located at Avenue de Verdun, 06600 Antibes, in the Port Vauban area. The office is operated by Cenk Efe, Founder and Director of the Mallorca Marine Group 1994, and will serve as the brand's exclusive representative in France.Iain Smallridge, Founder and Managing Director of Pearl Yachts, stated: “France has always been one of the most important markets for Pearl Yachts. With the opening of Pearl France, we are strengthening our presence in the Mediterranean’s most vibrant yachting hub. Cenk’s expertise and reputation are second to none, and we are confident that this new chapter will bring our boutique philosophy and unique approach even closer to every client and brand enthusiast based in France.”Iain Smallridge and Cenk Efe Cenk Efe, Director of Pearl France, added: “We are honoured to be launching Pearl France in Antibes. French clients value elegance, craftsmanship, innovation, and discretion; qualities that Pearl embodies in every detail. The response so far has been exceptional, and we look forward to growing the brand’s legacy along the Côte d’Azur and beyond.”This opening follows the establishment of Pearl Germany and Pearl Gulf earlier this year.Founded in 1998, Pearl Yachts has established itself as one of the UK’s leading shipyards, specializing in designing luxury motor yachts known for their voluminous interiors, opulence, and design excellence. Credits: Pearl Yachts
September 16, 2025
Heesen Yachts has completed the joining of the hull and superstructure for Project Grace, designated YN 21350. The yacht is the first unit in Heesen's new 50-meter Steel class. The operation, which lasted one week, began at the Talsma shipyard in Franeker, where the steel hull was fabricated. The hull was then transported by river and canal to Heesen's facility in Oss, where the main engines were installed prior to the joining procedure.The yacht is equipped with two MAN engines, each rated at 882kW and compliant with IMO Tier III emissions standards. This is the first Heesen yacht to use this specific engine model.Peter van der Zanden, Head of the Design & Development / Engineering Department, commented: "The new 50-metre Steel series gave us the opportunity to select the ideal engine for our brand-new platform. The MAN D2862LE438 was the clear choice, offering a power and efficiency profile that is perfectly calibrated for Project Grace's performance targets."The exterior design is by British studio Harrison Eidsgaard. The design includes features such as low bulwarks and full-height windows. The studio is also collaborating with Heesen's engineering team on the layout to optimize guest and crew areas.Ruud van der Stroom, Heesen CCO, commented: “Seeing the lines of this first 50-metre Steel yacht take shape is a powerful moment—it’s where the vision becomes a tangible reality. We are confident her iconic design will resonate strongly with a discerning owner.”Project Grace is currently available for sale, with a scheduled delivery date in the first quarter of 2028.Heesen Yachts is a Dutch ship building company that specializes in custom-built superyachts in aluminum and steel from 30m to 70m in size. Founded in 1978, it has launched more than 170 yachts since its inception.Credits: Heesen Yachts
September 16, 2025
Damen Yachting has confirmed the sale of a new 53-meter Yacht Support vessel from its Yacht Support range. The vessel, currently under construction at the company's facility in Antalya, Turkey, is scheduled for delivery in Spring 2026. This announcement follows the recent sale and delivery of the YS53 Emotional, which will be displayed at the Monaco Yacht Show.The YS53 model is designed to provide logistical support for main vessels, with facilities for additional crew, water toys, and helicopter operations. Its features include an expansive open main deck aft area equipped with a 15-tonne crane for handling submersibles, large tenders, and other heavy equipment. The vessel measures 53 meters with a gross tonnage of 499 and can accommodate 8 guests, 10 crew members, and a captain. The exterior design, interior design, and naval architecture were all developed by Damen Yachting.Jan van Hogerwou, Sales Director North America at Damen Yachting, stated: “This YS53 is the perfect addition to the Owner’s existing fleet and provides the extension of facilities the Owner is looking to achieve with the addition of a support vessel. We would like to thank Stuart Larsen for his collaboration throughout this project. We look forward to the remaining build period as we prepare for delivery in Spring next year."The next available delivery slot for a YS53 model is Spring 2028.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
September 15, 2025
Numarine has introduced a new explorer yacht model, the 27XP, at the Cannes Yachting Festival 2025. The 27-meter yacht replaces the 26XP model, of which 30 units have been sold.The yacht's exterior design and interiors are by Can Yalman, with naval architecture by Umberto Tagliavini. Two layout options are available: one with five cabins and another with four cabins. The five-cabin configuration includes a main deck VIP cabin, a full-beam master suite below deck, and three additional VIP suites. The four-cabin option moves the wheelhouse to the main deck.The 27XP features an open kitchen concept and enlarged outdoor areas. The flybridge is larger than on the previous model. A raised bow lounge is also included.Twin MAN 560 engines provide a top speed of 13.5 knots and a cruising speed of 10 knots. The yacht has a maximum range of 2,200 nautical miles at 8 knots. An optional enclosed, glass flydeck helm station is available.Ömer Malaz, Founder and Chairman of Numarine, stated: “After keeping our cards close to our chests for a little while as we worked on refining the design, we are thrilled to unveil our latest model, the Numarine 27XP. Longer, roomier and more versatile than her predecessor, she introduces new levels of comfort, light and openness, while still keeping the rugged explorer spirit which defines our XP series. She sets a new standard of elegance and capability in the explorer yacht class.”Numarine, a European high-performance motor-yacht shipyard headquartered in Istanbul, offers a range of yachts from 19 to 45 meters.Credits: Numarine
September 15, 2025
Benetti has presented at Cannes the Oasis 42M, a 42-meter yacht and a new model within its Oasis series. The design focuses on expanding exterior living areas and integrating sustainable engineering that has received a 3-star Sea Index rating.The yacht's primary feature is an aft deck measuring 100 square meters, which includes an 8.3-square-meter pool with a retractable enclosure. The sundeck measures 17.3 meters in length, which Benetti states is the largest in the 40-45 meter yacht segment. An additional lounge area is located on the foredeck.The interior design was developed in collaboration with bonetti/kozerski architecture. The main deck contains a salon, dining area, galley, and a forward area that can be configured as a gym, spa, or cinema. This space includes a drop-down terrace. The upper deck is dedicated to a 50-square-meter owner's apartment with a private 40-square-meter terrace.Enrico Bonetti from bonetti/kozerski architecture stated: “In our first yacht with Benetti on the Oasis 40M we were excited to bring a fresh eye to the design of a boat that ended up being a ground-breaking step toward a more dynamic and relaxed yachting experience. We are very proud that now, with the Oasis 42M, we have a chance to create a true evolution of that concept. The focus is still on an open and fluid plan, unexpected and consistent materials that gradually progress toward a more refined and tactile quality of details, the deeper you enter the boat.”The exterior design by RWD features curved lines. Mark Gardner, Director of Exterior Design at RWD, said: “The Oasis 42M is an evolution, not a revolution. Its softer, pebble-like lines create a yacht that feels sleek, natural, and enduringly elegant.”The yacht utilizes a data-driven engineering package to reduce fuel consumption and emissions. A hybrid Siemens E-Mode system is available as an option. A garage can store a 6.25-meter tender and other water toys.Founded in 1873, Benetti is the storied Italian shipyard specialized in luxury yachts. Every yacht is unique, developed around its owner. Benetti designs, builds and sells vessels in fibreglass from 34 to 44 meters and boats in steel and aluminium from 37 to more than 100 meters. The range is made up of eight categories: Class, Motopanfilo, Oasis, B.Yond, B.Now, B.Neos, B.Loft and Custom. By anticipating evolving lifestyles at sea, Benetti has introduced the Oasis family.Credits: Benetti
September 15, 2025