In recent quarters, a myriad of marinas have gone through deep restructuring to strengthen their offering and compete for superyachts' attention. At the core of this pivotal moment for yachting infrastructure, however, stood Porto Montenegro, one of the first, purpose-built superyacht hubs.
The project started when Peter Munk, a Hungarian-born, Canadian businessman purchased a site in Montenegro for €23 million in 2007 with the purpose of building a superyacht marina that would rival mainstream destinations. With backing from LVMH Chairman, Bernard Arnault, Russian oligarch, Oleg Deripaska and Lord Jacob Rothschild, the Barrick Gold founder set out to develop the largest private-sector investment in the country.
Located near the coastal city of Tivat, Porto Montenegro's ambition was to become a homeport for some of the world's largest yachts by providing their crew and visiting owners with high end facilities. The development also included the construction of a strong ecosystem around the marina with condos, restaurants and a five star hotel.
By 2014, Munk was quoted saying that the combined value of the yachts in the marina were bigger than the GDP of Montenegro. Amongst its top members were yachts from the Golden Fleet, a series of vessels owned by the son of the late Crown Prince of Saudi Arabia with its 123-meter flagship Golden Odyssey.
When initially acquired by Munk and his partners, the site was a former military base with long, concealed concrete piers that had been used by the Serbian Navy for its submarines. Now featuring over 450 berths, with the possibility to welcome yachts of up to 250 meters in theory, the marina benefits from exemptions on fuel tax and excise charges that considerably drop down the costs of yacht maintenance.
The location for the MYBA Pop Up Superyacht show, Porto Montenegro saw the opening of its latest Pool Club Residences last summer with over 62 residences built directly overlooking the marina. These are serviced by the five star Regent Hotel.
Over its several years of development, Porto Montenegro caught the eye of new investors and in May 2016 it was confirmed that the development was acquired the Investment Corporation of Dubai, the city-state's investment arm. "The internationally renowned Porto Montenegro presents an opportunity for ICD to access a successful business with significant potential for expansion both in the marina and landside" His Excellency Mohammed Al Shaibani, Executive Director of ICD said at the time of the sale.
The change in ownership brings an even stronger backing to the thriving marina as ICD has already developed a set of hotel rooms directly opposite the Atlantis hotel on the Palm in Dubai and is a shareholder in New York's Mandarin Oriental as well as Washington D.C.'s W Hotel and Cape Town's One&Only.
The brand new superyacht Olivia O has been recently seen on the French Riviera. Planning and engineering work began on the boat in November 2016 and earlier in 2020 the superyacht was finally delivered to her experienced owner.One of the largest explorer yachts in the world was designed and built by Ulstein Verft, which is known for commercial vessels, ferries, and workboats. Well-known superyacht designer Espen Oeino was chosen by the owner to develop the exterior lines and the general arrangement of Olivia O. The 88.5 m motor yacht is not typical in style, she features a trademarked reverse-bow design called the X-Bow.She is owned by Eyal Ofer, a Monaco based billionaire, active in shipping and real estate. He is not the last man in shipping indeed since in 2014 Eyal was ranked number 7 in Lloyd’s List 100 People in Shipping. With the net worth, which is estimated at US$ 9.4 billion, he definitely can afford this US$ 200 million luxury superyacht. Eyal is Chairman of Ofer Global, Zodiac Group, and Global Holdings. His father Sammy Offer was Israel’s richest man.Some of her impressive highlights are a large swimming pool on the main deck aft and a helicopter deck with a D-value of 16. Olivia O offers accommodation up to 20 guests in 8 cabins, including Pullman bunks while crew accommodation is for 30 people.
July 10, 2020
The 99.95 m superyacht Moonrise, the largest superyacht by waterline length built in the Netherlands to date, has been recently delivered after successful sea trials in the North Sea. Built by the Feadship yard in Makkum, she also has an impressive volume thanks to a 15.50-metre beam.The shipyard described the yacht's key features as “sleek, sensual lines” with a “modern masculine profile”. Some of the highlights of Moonrise are it's a large beach club, a gym, and the huge living space areas.Her stylish details, such as long hull windows, a glorious grey hull, and striking vertical bow add to the elegance of the design by Studio De Voogt. The interior of the boat was created by Remi Tessieir Design.Moonrise has a 15.5-meter beam and is equipped with a pair of MTU engines for a maximum speed of 19.5 knots and a cruising speed of 16 knots.Moonrise equipped with a pair of MTU engines for a top speed of 19.5 knots at top speed and she is designed to cruise comfortably at 16 knots. The dimensions of the yacht are impressive and can accommodate up to 16 guests in 8 staterooms. There are also exceptionally high-end crew accommodations for up to 32 crew members.
July 10, 2020
Lürssen's superyacht Opus, which was previously named Redwood, hit the sea for the first time. The 142m vessel featuring six decks was launched yesterday July 9th. The technical concept was launched in January 2019.The management of project Opus is done by Moran Yacht & Ship, overseeing the construction process. This project sets a new record as the largest project for the company to sell.Moran Yacht & Ship commented:She is feature-rich with high-end amenities to delight and cater to every imaginable whimThe motor yacht can accommodate 36 guests in 20 cabins. Opus was designed by Italian design studio Nuvolari & Lenard. After the sea trials are completed, Opus will be delivered to her owner later this year.
July 10, 2020
Madame Gu is a 99.00 m luxury motor yacht. She was built by Feadship in 2013. This week this majestic superyacht has been seen in Saint Tropez. With a beam of 16.50m and a draft of 4.60m, she has a steel hull and aluminium superstructure. This adds up to a gross tonnage of 2900 tones.Madame Gu is powered by MTU 20V 4000 M73 engines of 4,828hp each, capable of reaching a maximum speed of 24 knots and cruise at 22 knots.She can accommodate 12 guests in 6 cabins including a master stateroom and five guest cabins. Both, an interior and exterior design by Andrew Winch make up one of Holland’s largest yachts ever built. The superyacht a fully enclosed helicopter hangar with a Eurocopter Dauphin AS 365N3, which costs around US$ 9 million. Also, there are two 11-metre tenders and scuba gear as well as a beach club, gym, and jacuzzi on deck.
July 9, 2020
Lürssen shipyard delivered 180 metre superyacht Azzam in 2013. With such an impressive length, she is the largest privately owned superyacht in the world and held its title unchallenged for nearly seven years. With a beam of 20.8 m and a draft of 4.3 m, she has a steel hull and aluminum superstructure. This adds up to a gross tonnage of 13136 tons. Azzam is powered by engines of 23,500 hp each giving her a maximum speed of 30 knots.The all-white motor yacht can accommodate guests in cabins with an interior design by Christophe Leoni and an exterior design by Italian studio Nauta Design.Mario Pedol, co-founder of Nauta Design commented:Azzam features balanced, modern architecture composed of straight lines and proportional volumes, which are some of the main design principles of Nauta Design When we were called to participate in pitching for the exterior styling of this yacht we knew it would be the most demanding work of our career, defined by the strictest and most challenging requests in terms of dimensions, performances, and technology. What made us confident to be able to deal with such a challenge was the interpretation of the client’s brief. The best technology was required in order to obtain the highest performance possible.There is not much information about her interior design, but it’s not a secret that the interior layout includes an open-plan main saloon measuring 29 metres by 18 metres.Pedol said about it:We’ve had a lot of compliments for Azzam. They all talk about elegance and balance, that she doesn’t look as big as she is, and I think this is a good achievement.
July 9, 2020