70% of companies in the yachting sector describe themselves as leading according to a study performed by Yacht Harbour on a sample of over 100 companies. It can therefore be hard for customers to differentiate at first glance the real financial position of companies and their scale.
Following a very active past 20 years in the mergers and acquisitions space in the yachting industry, some behemoths have emerged, controlling a large portion of the market and shaping the industry moving forward. Some high-profile individuals and corporations have also become involved in the superyacht industry in recent years. We have therefore investigated some of the most powerful corporations and individuals in the yachting space.
Dalian Wanda Group
Annual revenue: $39.47 billion (2014)
Chairman & Founder: Wang Jianlin
Largest commercial real estate operator in China and world's largest cinema chain operator, Wanda Group was founded in 1988 by Wang Jianlin. The company has today 634 billion yuans in assets and manages over 26 million square meters of hotel property. In 2013, the company decided to purchase UK-based yacht manufacturer, Sunseeker.
Having gone through losses of 9 million pounds in 2009, Sunseeker restructured its debt and was taken over by FL Partners, an Irish private equity company. Sunseeker was sold in 2013 to the Wanda Group for around 300 million pounds according to the Financial Times.
Symphony - © Feadship Fanclub
Annual revenue: $35.6 billion (2015)
Chairman & CEO: Bernard Arnault
Moet Hennessy Louis Vuitton, better known as the French luxury goods conglomerate, LVMH, is perhaps not so surprisingly also a player in the superyacht industry. In 2008, L Capital, the company's investment arm, purchased Princess Yachts in a deal worth 200 million pounds according to Reuters, with support from the Calyon investment bank.
Later that year, the conglomerate strengthened their position in the company with the purchase of Royal Van Lent, part of the Feadship organization, for a reported sum between 200-400 million euros. In 2007, Royal Van Lent had posted sales of 100 million euros.
Fast - © Baglietto
Annual turnaround: €2.2 billion (2012)
Gruppo Gavio, a large Italian corporation whose main business lies in motorway concessions with the company operating over 1400 kilometers of motorways in Italy, also has interests in the yachting industry. In 2012, Bejamino Gavio led an acquisition of the iconic Italian Baglietto shipyard for a sum of €18.5 million. The shipyard had been through some rough waters during the financial crisis resulting in 73 million euros of negative equity in 2009.
The group further consolidated its position in the sector by purchasing Cerri Cantieri Navali, a few months before the Baglietto deal, and by later acquiring US-based Bertram in 2015.
Siren © Yacht Harbour
Current owners: Akram & Iskandar Safa
Privinvest Group is one of Europe's largest maritime corporations which is involved in naval manufacturing and is also involved in the superyacht industry. Founded by the Safa brothers, Privinvest purchased Constructions mécaniques de Normandie (CMN) based in Cherbourg, France in 1992. The company then managed to turn around the fledging shipyard with new orders from the Middle East according to the Independent.
In 2007, the group funded 30% of the Abu Dhabi MAR company which ventured into shipbuilding through ADMShipyards and worked on the 141-meter Yas. In 2009, Privinvest continued to consolidate its position in the sector by acquiring German shipyard Nobiskrug.
I Dynasty © Superyachts Monaco
Maximum recorded asset net worth: €300 million (2011)
Current owner: Paolo Vitelli
Brands: Benetti, Azimut
Azimut was established in the early 1970s by Paolo Vitelli as a dealership of Amerglass boats. The company then evolved into yacht manufacturing by building its first 43ft boat. It later delivered Failaka, the first 30-metre fibreglass yacht ever built, to a Kuwaiti prince. In 1985, Azimut took over the Fratelli Benetti boatyard in Viareggio, setting the roots for the group. The company later started collaborating with young designer, Stefano Righini, which would bring the Azimut lines the company is known for today.
The company acquired the Gobbi shipyard in 2001 which now produced the group's Atlantis range from 10m to 18m. In 2004, the group acquired Fraser Yachts, a large yacht brokerage company. It later developed Marina di Varazze and the Royal Yacht Club in Moscow. By 2011, the group's net assets grew to €300 million according to this presentation with a turnover of €600 million, a significant cut on its €1 billion turnover in 2008 according to the Financial Times.
Chopi Chopi © Yacht Harbour
Maximum recorded value: €1.5 billion (2007)
Current owners: Weichai Group, Royal Bank of Scotland
Ferretti was established in 1968 as the first marine division of Alessandro and Norberto Ferretti's family business. In 1971, the company delivered its first wooden motor-sailer and by 1982 it began producing boats for sport fishing with a flybridge. By 1996, the group decided to expand into a larger range and set up Custom Line, a division meant to operate in the growing 26-40m range. In following years, the company multiplied acquisitions buying CNA in 1998, CRN in 1999, Riva in 2000, Mochi Craft in 2001 and Itama in 2004.
As the company was preparing for an initial public offering (IPO) after having been acquired in a leveraged buyout by Candover Investments which put the Group's value at €1.5 billion in 2007, the financial crisis led to a significant drop in sales. As a result, the Group had to restructure debt and its creditors, led by the Royal Bank of Scotland, converted a portion of their €1.2 billion debt into equity according to Bloomberg.
Ferretti Group was eventually sold to Weichai Group, a state-owned Chinese company, the largest maker of bulldozer's in China.
Galactica Super Nova - © Dick Holthius
Net worth: $11.1 billion (2016)
Brands: Heesen Yachts
Mr. Vagit Alekperov is currently considered to be Russia's 9th richest man according to Forbes. In May 2015 it became known that the head of Lukoil, Russia's largest independent oil company, is the current owner of Heesen.
In 2008, Mr. Alekperov purchased Heesen Yachts from founder, Frans Heesen, for a reported sum of 100 million euros. The shipyard posted profits of €5.2 million in 2013 according to Forbes Russia.
Mohammed Al Barwani
Turquoise - © Ocean Independence
Net worth: $1.2 billion (2015)
Brands: Oceanco, Turquoise Yachts
Energy tycoon, Mohammed al-Barwani made his wealth investing in oil, gas, minerals and manufacturing. In 2010 he however decided to purchase Dutch shipyard, Oceanco from Greek shipping magnate, Theodore Angelopoulos. First company to build spa pools on superyachts, Oceanco has much benefited from the hands-on approach of Al Barnawi delivering the beautiful Nirvana for Russian billionaire Potanin as well as expanding its facility to be able to construct yachts up to 160 meters.
In December 2013, al-Barwani further consolidated his position in the industry, purchasing Turkish yacht manufacturer, Proteksan (now Turquoise Yachts), which was struggling following the highly publicized sinkage of M/Y Yogi.
The 90-meter Oceanco superyacht, referred to as Project Y717 has now been launched by the Dutch shipyard according to the company. Her exterior lines were penned by Luiz DeBasto whilst her interior was drawn by Italian design studio, Nuvolari Lenard.Key features include a helipad, two elevators - one for guests and one for its crew of 31, a diving center, hammam and sauna. Stretching across a beam of 14.2 meters, Project Shark, as it is named in Oceanco's press release will now embark on sea trials.Another big project at Oceanco is the 109-metre Project Y718 (Project Bravo), a Nuvolari Lenard design that is planned to be delivered this year.
February 22, 2018
Rorqual is a 120-metre superyacht concept from Paris-based studio MUB Design. Designed in animalistic shapes, it is a “symbiosis between gigantism and slender curves”. Interior is a quintessence of classic and contemporary style; materials include walnut, marble, copper and brass and felted furniture. Key features include several Jacuzzis, a spa, gym, and a dance floor with DJ podium overlooking the beach club. Rorqual also has the ability to host a range of toys and tenders on board, including jet skis, a submarine and plenty of inflatables. She accommodates up to 14 guests on board as well as a crew of 30. Power comes from four 4,830hp MTU engines, providing her with a top speed of 21 knots.
February 22, 2018
Wind Motion 70T is a 70-metre trimaran concept by French-based yacht designer Mathis Ruhl. New rigs, developed by a designers are capturing and transforming wind energy into an efficient propulsive force.Named the RTW ², Ruhl explains: “We previously developed the MRTW rig as a wind propulsor suited for larger vessels. With the RTW ² rig, we took the concept even further, breeding it with the articulated two elements thick wing concept. A larger wing mast section and foldable articulated thick sail reduces the compression load in the mast, and unties the two spars in a central pivot. The result is higher aerodynamic efficiency, a lighter structure, and lower required deck space.”
February 20, 2018
Dutch yard Heesen has announced that 49.8 metre superyacht previously known under codename Project Ayla is launched and christened White at its Oss shipyard on 8th of February. White was originally built on speculation, but has been bought one year into construction in October, 2017.White is from Heesen's 5000 Aluminium series class, with a gross tonnage below 500GT - the limit which is currently continuing to influence yacht design, comes with exterior styling from repetitive Heesen Yachts collaborator Frank Laupman and his Omega Architects studio, and the yard describes the look as “an emblem of sporty elegance”. The superyacht sundeck is measuring 70 square metres and has been fitted out with decorative fabrics from Hermes. The other highlights on the upper deck are the spa pool, surrounded by sunpads, and the full-service bar area. The fast and comfortable hull was created by the yard’s in-house naval architects.Interior design comes from Italian designer Cristiano Gatto, who worked in deep contact with the owners to customise the yacht : interior in glossy ebony and Canaletto walnut was inspired by the work of New Deco designer Jean-Michel Frank and has been extensively fitted tothe owner's tastes. Key pieces include an ebony, leather and stainless steel coffee table with a hidden ice bucket beneath, and custom-designed Loro Piana upholstery with bookcases built into the armrests. The accommodation up to 12 guests in 6 cabins, including a main deck owner’s cabin, full-beam VIP below decks, 2 double staterooms and 2 twin cabins, all with their own private en-suite bathrooms.Power comes from twin MTU 16V4000 engines, reaching top speed of 23 knots and 11 knots economic speed with range of 3,200 nautical miles.White's sea trials procedure will be held at the North Sea. Delivery is scheduled on April, 2018.Another superyacht project at the Dutch yard is the recently sold 60 metre Project Falcon.
February 19, 2018
Chinese yard Pride Mega Yachts has announced a construction video of its superyacht Illusion Plus, which should be completed and launched this year. The project was announced in 2007, but was put on hold because of world economical crisis.British studio Rainsford Saunders Design is responsible for exterior, inspired by Rolls-Royce cars, while Dutch designers Sinot Exclusive Yacht Design.The yacht is built from a steel hull and aluminium superstructure to ABS class, will accommodate 12 guests and 25 crew members, in master suite, 2 VIPs, 2 doubles and 2 twins, with interior volume of 3,600GT.Powered by twin 3,000hp Rolls-Royce diesel-electric engines, with a top speed of 16 knots and cruising speed at 14 knots with 5,000nm range.
February 16, 2018