North-American shipyard Palmer Johnson, originally located in Great Lakes region of Sturgeon Bay, Wisconsin, once belonged amongst major US builders. The company started as wooden yachts builder, now boasting a 100-year-long history. They launched such famous vessels, as Fortuna for the King of Spain, unrivalled in the terms of speed for 10 consequent years, and explorer Turmoil, sailing around the globe three times. Yacht Harbour takes a closer look at the company’s long history and where they arrived at today.
Palmer Johnson was founded by Hans Johnson and Herman Gmack in 1918, originally named Johnson and Gmack. During the 1920s, the boatyard made its specialty repairing rowing skiffs and commercial fishing vessels, with its first wooden yacht launched later in 1928.
The company went through hard and prosperous periods through its history, under different owners. Sometimes its activity was affected by international events, as well. For instance, when the United States entered the WWII, most American industries rallied around the war effort. During the war years, Palmer Johnson built over forty 45-foot air-sea rescue boats and four 65-foot “T” class freighters.
King Juan Carlos' Fortuna
In 1956 the company was sold and renamed after the founder’s son, Palmer Johnson. Starting from the 1960s, Palmer Johnson becomes one of the pioneers in the field of aluminium yachts building, with the first unit Isanti built in 1962 for an American banker.
Within five years, the company delivered the world’s largest aluminium sailing yacht of that time, a 25,6-metre ketch Firebird. Firebird was surpassed by Fortuna, a 30.5-metre yacht for King Juan Carlos of Spain, setting the record in 1979. She was capable of reaching an incredible speed of 46 knots, remaining the fastest yacht in the world for over a decade.
During 1989-1992, the company was extending its facilities; inaugurating new 7,000-square-metre facility at Jefferson Street and First Avenue and expanding to the East Coast.
La Baronessa
In 1998, the same year Palmer Johnson celebrated its 80th anniversary, the company launched the largest all-aluminum yacht built in the USA, La Baronessa (59,5-metre LOA).
In 2003, following several unproductive years the company was sold to her current owner, English businessman Timur Mohamed, after he had purchased a 120-foot yacht christened Cover Drive.
Under his direction, Palmer Johnson introduced its SportYacht series in 2004, featured with contemporary exterior styling and interior design by Nuvolari Lenard. Launched during a peak of prosperity for yachting in general, the series becomes one of the most popular in the midsize superyacht segment.
In 2012, the shipyard announced its new carbon-fibre SuperSport performance superyacht series as a follow-up to its SportYacht series. Despite several deliveries, it couldn't quite replicate the initial success of the previous series partly due to a different economic climate.
However, in 2015 it was announced that the Sturgeon Bay shipyard would be closed and sold after delivery of its last boat. Since 2017, production was moved to the Netherlands, although it is for now unclear under what form that currently exists.
The company reported that the relocation had a strategic purpose to increase production of the new carbon SuperSport series. It was though rumoured that the move was inevitable as sales had diminished against escalating foreign competitive pressures. Some sources reported that the closures resulted in the loss of about 100 jobs.
One of the most recent yacht launched by Palmer Johnson, was 2016 sport yacht Sanam with LOA of 52,4 metres, the last one built within US facility. Following this, Palmer Johnson announced collaborations with Bugatti on a 66ft day boat and a day boat called the PJ63 Sport, clients for the projects, however, remain to be found so far.
Nonetheless, the company still announces ambitious projects. The largest one has been revealed recently, jointly with Korean designer Chulhun Park. The companies have presented new 229-meter superyacht concept Valkyrie. Time will tell if the concept is a sign of big things to come from an iconic brand.
Project Tanzanite, a 120-meter Amels Full Custom superyacht, has reached the next stage of construction following her launch at the Damen Yachting facilities in Vlissingen. At 6,083 GT, she is the largest new build completed by Amels to date.The yacht first entered the Netherlands in June 2023, arriving from Damen Yachting’s hull building facility in Galati, Romania, where the hull had been constructed. Since then, she has been prepared for outfitting at the shipyard’s facilities in Vlissingen City. In the weeks leading up to the launch, Project Tanzanite was floated inside the dock before moving into open water.With the yacht now in Vlissingen for the final phase of work, more than 1,000 people, including Damen Yachting teams and members of the international superyacht supply chain, will contribute their expertise over the next year. Completion is scheduled for 2026.Project Tanzanite is a one-off Amels Full Custom design. The exterior is by Espen Øino, while details about the interior remain undisclosed. Damen Yachting provided the naval architecture for the project.Key figures for the yacht include a length of 120 meters (394 feet) and a gross tonnage of 6,083.Credits: Amels
September 5, 2025
Ferretti Group will present six world premieres at the Cannes Yachting Festival 2025, held September 9–14, alongside a fleet of 25 yachts. The debuts include models from Ferretti Yachts, Itama, and Riva: the Ferretti Yachts 800, Itama 54, Riva Aquariva Special, Riva Cento, Riva 58’ Capri, and Riva 112’ Dolcevita Super. These will be joined by the Ferretti Yachts 940 and Pershing GTX70, introduced earlier this year in Venice. Wally will also be present with the wallywind110 in the sailing section at Port Canto.The Ferretti Yachts 800, designed with Filippo Salvetti and Ideaeitalia, measures 24.47 meters in length with a beam of 5.91 meters. It offers large windows, an optional salon sliding door, and a 40-square-meter flybridge. Powered by MAN V12 engines, it reaches up to 31 knots.The Itama 54, styled by Tommaso De Luca, features a double-cockpit layout with seating for 10, extended side glazing, and a lower deck with two cabins. Its LOA is 16.44 meters with MAN engine options up to 850 hp.The Riva Aquariva Special updates the long-standing Aquariva line with new navigation lights, redesigned windscreen, and expanded swim platform while maintaining analogue helm instrumentation. It measures 10.07 meters and reaches 41.5 knots.The Riva Cento, marking the 100th Rivamare, introduces new color options, integrated stern handrail, and a convertible interior dinette. With an LOA of 11.88 meters, it is powered by twin Volvo Penta engines.The Riva 58’ Capri is an evolution of the 56’ Rivale with three cabins, a fixed hardtop, and garage options for tenders and water toys. Its length is 17.27 meters with speeds up to 37 knots.The Riva 112’ Dolcevita Super, at 34.37 meters, features fold-out terraces in the stern, redesigned flybridge, and two interior layout options. Twin MTU engines deliver speeds of up to 25.5 knots.Also on display are the Ferretti Yachts 940, a 28.97-meter widebody yacht with five cabins and floor-to-ceiling glazing, and the Pershing GTX70, a 21.76-meter model with expanded exterior areas and a sundeck split into three zones.Ferretti Group’s presence at the show will be accompanied by a range of luxury partners including Range Rover, Flexjet, Dolce & Gabbana, Frette, Venini, and Lavazza, among others.Credits: Ferretti Group
September 5, 2025
Sanlorenzo S.p.A. announced consolidated financial results for the first half of 2025, reporting €454.1 million in net revenues from new yacht sales, representing a 9.4% increase compared to H1 2024. EBITDA reached €80.5 million, an 8.5% year-over-year increase. The company maintained a robust order backlog of €1.44 billion, with 93% of orders already sold to final clients.Chairman and CEO Massimo Perotti stated: "The first half of 2025 reflects the resilience of Sanlorenzo, the strength of our brand, and the timeless desirability of our yachts. Even in a global environment marked by trade tariff uncertainty and broader macroeconomic pressures, we have delivered stability and measured growth."Order intake increased 29.9% to €419.5 million, driven particularly by strong demand for yachts exceeding 30 meters. The net backlog stood at €985.2 million as of June 30, 2025, providing approximately one year of revenue visibility.Regional performance showed Europe accounting for 58.8% of revenues (€267.1 million, +15.4% YoY), Americas contributing 21% (€95.3 million, +38.6% YoY), APAC at 12% (€54.4 million, +5.8% YoY), and MEA representing 8.2% (€37.3 million, -41.3% YoY).Division performance varied: Superyacht Division revenues increased 10.2% to €137.1 million, while Yacht Division declined 6.6% to €225.8 million primarily due to market conditions below 30 meters. Bluegame Division decreased 10.9% to €43.6 million, and Nautor Swan Division contributed €47.5 million since its 2024 acquisition.The company reported net profit of €46.6 million, a 7.0% increase from H1 2024. Net working capital remained positive at €86.6 million, though inventories increased to €186.7 million due to production ramp-up and distribution hub expansion.Sanlorenzo confirmed its 2025 financial guidance, citing strong product pipeline including three new yacht debuts at the Cannes Yachting Festival and the upcoming delivery of the 74Steel model. The company continues to focus on yachts under 2,000 GT where it believes the risk-return profile remains most favorable.Sustainability initiatives progress includes development of bi-fuel green methanol propulsion technology, though the launch timeline for the 50 X-Space project has been adjusted to align with expected infrastructure availability toward the end of the decade.The company maintains its net financial position with €8.3 million net debt as of June 30, 2025, following dividend payments of €34.7 million and €11.1 million share buyback program execution during the period.Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length. Credits: Sanlorenzo
September 5, 2025
Italian marine manufacturers Castoldi and Nauta have developed the Jet Tender 34 Limo, marking Castoldi's first entry into the limousine tender segment. The 10.4-meter vessel will serve as ship-to-shore transportation for a new boutique cruise ship fleet under construction in Italy, with four limousine tenders and two support vessels ordered per vessel.Giacomo Castoldi, CEO of Castoldi, stated: "This project represents a new chapter for Castoldi that expands our offerings to new markets, while maintaining the commitment to innovation, quality, and luxury we are known for." The collaboration utilizes Castoldi's waterjet propulsion technology and semi-serial production capabilities combined with Nauta's design approach.Nauta Director Guido Valtorta noted: "Typically, limousine tenders are custom-made for large yachts, but this project allowed us to merge bespoke luxury with the efficiency of semi-serial production." The design incorporates multiple boarding points, configurable seating arrangements, and ceiling lighting systems aimed at creating spacious interior environments.Technical features include Castoldi's ACES electronic control system and waterjet propulsion designed for commercial vessel applications. The tender achieves cabin cooling within 15 minutes and incorporates noise-reduction systems within rub rails. The platform allows for Open Limo and Support Vessel configurations through modular design principles.The first unit is scheduled for delivery in late 2025, with project presentation planned for the Monaco Yacht Show. The tender measures 10.4 meters in length with limousine-style enclosed cabin accommodation. Production follows semi-serial methods rather than custom one-off construction, representing a new operational approach for Castoldi in this vessel category.The partnership combines Castoldi's marine engineering capabilities with Nauta's yacht design experience, targeting the growing market for luxury tender operations in cruise ship and superyacht sectors. The design emphasizes functional elements including pantry facilities and toilet accommodations within the compact hull form.Credits: Nauta
September 4, 2025
Extra Yachts has launched the X145 Global, a 44-meter explorer yacht designed for long-distance cruising. The steel-hulled vessel features an aluminum superstructure designed by Agon Studio, with interior spaces by Hot Lab.The yacht offers 4,000 nautical mile range with five deck levels and 9.1-meter beam while maintaining under 500 GT volume. The layout places all five guest cabins on the main deck utilizing maximum beam width, with an owner's private terrace on the bridge deck. Crew accommodations include four double cabins with ensuite bathrooms on the lower deck.Technical specifications include dual-mode hull design balancing performance and fuel efficiency. Storage capacity includes an 8.5-meter tender, rescue boat, two jet skis, and additional water toys in the aft garage. The beach club area provides 80 square meters of space with fold-down platforms and day facilities.Interior design incorporates large glazed surfaces, oriental-inspired details, and open-plan layouts emphasizing spatial perception. The upper deck features 360-degree viewing lounge with separated dining and seating areas connected by a central staircase.The X145 Global represents Extra Yachts' expansion into the explorer yacht segment, combining extended range capabilities with contemporary interior aesthetics. The design prioritizes crew operational areas with dedicated mess and laundry facilities alongside professional galley space.The yacht's configuration focuses on long-term autonomous operation with reduced fuel consumption parameters compared to traditional motor yachts of similar dimensions. The explorer market continues to show growth as owners seek vessels capable of extended itineraries with self-sufficient capabilities. Extra Yachts continues production at its Italian facilities, with the X145 Global positioning the brand in the 40-45 meter explorer segment. The company's product range includes both fiberglass and metal-hulled yachts with varying mission profiles from coastal cruising to global expedition capabilities.Extra Yachts specializes in the development of yachts with a strong personality. Its distinctive lines are combined in a variety of motor yacht models ranging from 76' to 130' and a 30-meter motor catamaran. Developed thanks to the advanced technical experience of ISA Yachts, Extra offers customers all the advantages of being part of the Palumbo Superyachts network.Credits: Extra Yachts
September 4, 2025