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.
Italian marine manufacturer MED Group will debut its TYKUN X chase boat at the Monaco Yacht Show from September 24-27, 2025. The 10.5-meter aluminum vessel, designed by Tommaso Spadolini, will showcase at stand QA34.The chase boat utilizes twin 400 HP Mercury Verado V10 engines to achieve speeds exceeding 50 knots. Its aluminum hull construction derives from MED Group's defense sector experience through its MED DEFENSE division, which supplies NATO-qualified vessels to security agencies.Design features include a carbon fiber hardtop and lateral terrace configuration intended to enhance passenger access to marine environments. The layout allows customization of materials, color schemes, and electronic systems according to client specifications. Storage capacity accommodates water toys including Seabobs and paddleboards.MED Group CEO Marco Galimberti stated the model represents years of development combining military-grade engineering with superyacht requirements. Designer Tommaso Spadolini emphasized the vessel's focus on both performance characteristics and practical functionality.The TYKUN X targets superyacht owners and operators seeking high-performance support vessels with proven seaworthiness characteristics. MED Group will demonstrate docking capabilities and maneuverability features during the exhibition.The chase boat segment shows growing demand for specialized tenders combining functional requirements with recreational amenities. MED Group's entry leverages existing naval architecture experience while incorporating design elements tailored to luxury yacht operations.Production will occur at MED Group's Italian facilities, with delivery timelines to be confirmed following the Monaco presentation. The company anticipates interest from both private owners and commercial yacht operators requiring robust support vessels capable of high-speed operations.Credits: MED Group
September 8, 2025
Azimut has launched the Magellano 27M, a 27-meter yacht representing the third generation of its Voyager series. The design features exterior work by Jarkko Jämsén and interior spaces by AMDL CIRCLE & Michele De Lucchi, marking the architecture firm's first marine project.The yacht incorporates a loggia-style main deck with full-height glazing designed to create visual connection with marine environments. The exterior design emphasizes clean lines and curved surfaces intended to reflect light and water movements. Jämsén's approach focused on reducing visual elements to create what the designer terms a "bare shape" that integrates with natural surroundings.Interior spaces utilize light wood finishes and architectural elements inspired by Mediterranean patio designs. The layout prioritizes natural illumination through extensive glazing, with wooden structural components serving both functional and aesthetic purposes. The design team treated natural light as a structural material throughout the living spaces.Technical specifications include long-range cruising capabilities consistent with the Magellano series' explorer yacht positioning. The vessel maintains Azimut's dual-mode hull design, offering stability in various sea conditions while maintaining fuel efficiency during extended voyages.The Magellano 27M accommodates owners focused on extended cruising rather than seasonal Mediterranean use. Interior configurations emphasize connection with external environments while maintaining privacy requirements during long-term onboard living.The yacht represents Azimut's continued development of its Voyager series, which targets owners seeking transoceanic capabilities combined with contemporary design aesthetics. The collaboration with architectural firm AMDL CIRCLE introduces new design approaches to marine interiors, particularly in the treatment of natural light and spatial organization.Production will utilize Azimut's existing manufacturing facilities, with the Magellano 27M positioned as the new flagship of the Voyager line. The yacht is scheduled for public presentation during the 2025-2026 boat show season following initial client deliveries.The Magellano series now spans multiple size categories, with the 27M model representing the largest current offering in Azimut's explorer yacht range. The company continues to develop both motor yacht and explorer segments simultaneously across its product portfolio.Credits: Azimut
September 8, 2025
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