Earlier this year it was revealed that Norwegian billionaire, Kjell Inge Røkke would build the world's largest yacht in the world. With a length of 181.6 meters, his Research Expedition Vessel (REV) is set to beat out the current record holder, the 180 meter Azzam, by 1.6 meters.
Designed by industry superstar, Espen Oeino, the REV will be built by Vard and boast accommodation for up to 36 guests. Following her delivery in 2020, the superyacht will be made available for charter, her main purpose will however be to act as a platform for research and expeditions according to her owner.
"The REV will be a platform for gathering knowledge" her future owner, Kjell Inge Røkke explained. "I would like to welcome researchers, environmental groups, and other institutions on board, to acquire new skills to evolve innovative solutions, to address challenges and opportunities connected to the sea."
Valued at $2,9 billion by Forbes, Røkke is currently the fourth richest man in Norway and 693rd in the world. Having started out as an 18 year-old fisherman with no higher education, Røkke made his fortune in the fishing space, purchasing his first trawler in the 1980s and eventually building up a large fleet. Earlier this year Røkke said he planned to give most of his fortune away.
The REV, set to be operated in tandem with WWF is one of the key focuses of his plan to help the environment. Set to be delivered by Vard in 2020, the yacht will be able to deploy mini-submarines, drones and actual submarines, transport up to 60 researches, gather data up to a depth of 6,000 meters and remove up to 5 tons of plastic per day.
Røkke further explained to the media that his first large factory trawler was built by Vard 30 years ago and that he had maintained a great working relationship with them since then, which is why the Norway-based shipyard obtained the contract to build the REV.
Amongst key features on the REV will be equipment for monitoring and surveying marine areas, modern laboratories, an auditorium, two helipads, a hangar for a remote operated vehicle and an autonomous underwater vehicle as a multifunctional cargo deck aft of the ship.
"There may not be any economic rationale for the private construction of such a ship, but the case is compelling from the ocean's point of view" Røkke explained. "I look forward to working with scientists and positive, knowledgeable, solution-orientated people both in Norway and internationally."
When not in use for research, the Research Expedition Vessel will however also engage in 'traditional' charter activity, being rented out to ultra high net worth individuals on a weekly basis. Under this configuration, the megayacht would carry up to 36 guests and a crew of 54.
"The vessel will be built to the highest standard making it suitable for charter to private individuals, companies, and institutions, which will generate research funding, and my family and I will also charter and use the ship as a place for recreation and inspiration" detailed Røkke.
Operated by the World Wide Fund's (WWF) Norwegian branch and its CEO, Nina Jensen, the non-profit will benefit from complete autonomy in managing the yacht with regards to her billionaire owner according to one of his statements. Røkke plans to give away most of his fortune to clean up the oceans.
With a length of 181.6-meters, the REV beats out the 180-meter Azzam for the title of the world's largest yacht by 1.6 meters. Built for the Emir of Dubai by Lurssen in 2013, Azzam is world famous for being the current record holder. Designed by Christophe Leoni and Nauta Yachts, Azzam can reach a top speed of 30 knots powered by engines giving her a total of 94,000 hp.
Prior to Azzam, the title was, for a long time, held by the 162.5-meter Eclipse. Built by Blohm+Voss in 2010 for Russian billionaire and Chelsea FC owner, Roman Abramovich, she features two helipads and a special set of lime-colored lifeboats to qualify to transport a larger number of guests.
Whilst the REV's 2020 delivery date positions her to becoming the world's longest yacht, it is currently unlikely that she will become the world's largest yacht by interior volume due to her open space of the yacht. This record is currently held by Russian billionaire, Alisher Usmanov and his 156-meter Dilbar, delivered by Lurssen in 2016.
The REV is part of a recent explosive growth in Norway's super yacht sector, with several of the world's largest yachts in build in the Scandinavian country. One of these is the 116-meter explorer, Ulysses, which will become the second explorer yacht the shipyard will have delivered to New Zealand's richest man, Graeme Hart in the past 3 years.
Just a few days ago, the shipyard signed a contract to build yet another 100m explorer in partnership with Lurssen. This follows several other commercial shipyards in Norway venturing into the super yacht space and Norway increasing its popularity as a destination for super yachts itself.
Previously most famous for importing his version of American capitalism to Norway, Røkke is already not a stranger to the super yacht world as one might expect. The first yacht that the press linked to Roekke has been the 66-meter sailing yacht, Aglaia delivered by Dutch-based Vitters in 2012.
Designed by Dubois and built out of aluminum, the 66-meter can have its mainsail up in less than two minutes according to the shipyard. She also carries the largest artwork ever made on canvas, a fully customized sail made by Norwegian artist Magne Furuholmen. Now renamed Ahimsa, she was sold at the end of 2014.
Roekke was also reportedly the original owner of the 70-meter Reverie. The largest yacht by gross tonnage ever built by Italian shipyard, Benetti at the time of her build, Reverie was delivered to a design by John Munford in 2000.
With an interior volume of 1,975 GT, Reverie, now known as Freedom following her recent change in ownership in 2013 at an asking price of $49,5 million, she stretches over seven decks.
Røkke's latest yacht is believed to be the 85.9-meter sailing yacht Aquijo. Delivered in 2016 as a joint partnership between Vitters, the builders of the first yacht linked to Røkke and Oceanco, a renowned builder of yachts mainly over 80 meters.
Vitters developed a custom steering system for Aquijo. It works by translating the hydrodynamic forces on the rudder blades directly to the steering wheels on the flybridge, thus providing the helmsman with immediate feedback and a feeling for how the yacht is moving through the water.
The yacht comprises 4 decks and is able to accommodate up to 12 guests. Spaces, particularly where alfresco areas abut interior ones, were configured to flow from one to the other without restrictions.
Aquijo is not only the largest ketch in the world but also among the 10 largest sailing superyachts completed to date. Built under the project name P85, the German studio Dölker + Voges was responsible for her interior design, whilst Tripp Design Naval Architecture styled her exterior.
Often hailed by media as the self-made man who changed the way business was done in Norway, Roekke is also known in the business world as a billionaire with an explosive temper and a taste for the supersized according to Reuters. Currently valued at $2,9 billion by Forbes, Roekke's fortune initially came from fishing, since then the 55-year-old has however expanded his empire.
Leaving high school as a dyslexic teenager with no education, he moved to Seattle to become a fisherman in Seattle. Saving up and eventually investing in a number of old boats, transforming them into trawlers and building up his fortune in the process. Roekke then chose to return to Norway in the 1990s, seeing new opportunities in his home country.
Shortly after his return to Norway, Roekke acquired 40% of 173-year-old conglomerate, Aker in 1996 and merged it with his Resources Group International before acquiring Kvaerner in 2000.
"He was the first one to bring American-style, aggressive capitalism to Norway, daring to use shareholder power to get what he wanted." detailed one of his biographers. "This was quite unheard of in Norway at the time."
When many had thought that Roekke would act as a corporate raider, chopping off the company piece by piece for cash, he took a different approach. "He has shown he thinks about the long-term when he makes investments and buys firms." commented Det Norske former executive, Erik Haugane.
In 2014, Roekke's Det Norske paid $2,1 billion in cash to acquire Marathon Oil's Norwegian business, creating the second largest oil producer in the country behind Statoil. Since his Aker holding has also divested from his original fishing business.
"My wife is totally right when she says I suffer from an incurable disease: gigantomania. She has tried to cure me but given up." he wrote in a 2011 letter to shareholders. "We had agreed to build a sailboat of 66. She meant 66 feet; naturally, I was thinking in meters. It ended up at 66 meters."
Custom Line has introduced the Custom Line 50, described as “the first 50-metre superyacht built entirely from aluminium” and “the new displacement flagship” that “makes her debut in the metal yachts segment under 500 GT.” The yacht, measuring 49.90 meter in length with a 9.60-metre beam, spans four decks and has a gross tonnage of about 260 GT.Key features include an owner’s suite positioned in the bow on the upper deck, a configuration typically found on larger vessels. The design also incorporates a beach club with an infinity pool integrated into the main deck, forming a 120-square-metre area designed to enhance the connection with the water. With a draught of 2.2 meter, the yacht is intended for cruising and mooring in areas such as the Caribbean.According to the press release: “More than a superyacht, Custom Line 50 is a statement of forward-thinking design, engineering excellence and conscious exclusivity.”The project results from collaboration between the Strategic Product Committee led by Piero Ferrari and the Ferretti Group Superyacht Yard Engineering Department in Ancona. Architect Filippo Salvetti designed the exterior, while Studio ACPV ARCHITECTS Antonio Citterio Patricia Viel developed the project architecture and interiors. The brand’s team provided project management, guiding the owner through customization and execution.Guest accommodations include a master suite on the upper deck and four lower-deck cabins, for a total of up to 12 guests. Five crew cabins are configured to house nine crew members. The yacht’s layout emphasizes privacy, with separate guest and crew circulation paths. Exterior styling uses clean lines and horizontal elements for a sense of harmony.The Custom Line 50 introduces “an unprecedented feature for the segment,” with a deck devoted entirely to the owner. This 75-square-metre owner’s apartment includes a panoramic cabin with wraparound windows and a private terrace.Interiors incorporate a concept based on three-dimensionality and materiality, utilizing Canaletto walnut, leather, ivory-colored wallpaper, and marble cladding in bathrooms. Mirrored surfaces and large curved windows aim to create a feeling of openness, integrating indoor spaces with the seascape. Outdoor areas are organized into a series of terraces and lounges. A two-level beach club at the stern is connected to an infinity pool on the main deck, while upper decks and a sun deck offer dining areas, lounges, and a hydromassage pool.Propulsion is supplied by two CAT C32 ACERT engines for a top speed of 16 knots and a range of about 4,500 nautical miles at an economy cruising speed of 10 knots. The yacht is designed with IMO Tier III-certified SCR systems to reduce emissions. Stabilization is managed by CMC Marine fins, and onboard systems aim to balance performance and reduced environmental impact.Credit: Custom Line
December 18, 2024
The Italian Sea Group participated in the inaugural Red Sea Week marking the opening of Sindalah Island. The newly established island, designed and planned by LUCA DINI Design & Architecture studio, aims to position itself as a premier luxury yachting destination in the Red Sea.At the ceremony in late October, Sindalah introduced itself as a high-end travel location. Among the project’s contributors was Stefano Ricci, who designed the Sindalah Yacht Club, one of the first completed and unveiled structures.The Italian Sea Group presented ten representative yacht models at the Sindalah Yacht Club. According to the company, these models attracted attention for their design, build quality, and focus on sustainability.“Participating in the Red Sea Week in Sindalah, a location that will set new standards in the world of luxury travel, was a significant moment for presenting our yachts in a strategically important area for us from a commercial point of view, generating great curiosity among the guests,” said Giovanni Costantino, Founder & CEO of The Italian Sea Group. “I would like to thank Cavaliere Stefano Ricci for the outstanding professional synergy, which will surely lead to further major projects together.”The Italian Sea Group operates with the brands Admiral, Tecnomar, Perini Navi, and Picchiotti, and offers maintenance and refit services under NCA Refit. It has collaborated with luxury names such as Giorgio Armani and Automobili Lamborghini. According to the 2025 Global Order Book by Boat International, The Italian Sea Group ranks as the first Italian superyacht builder for yachts over 50 metres.Credit: The Italian Sea Group
December 18, 2024
Extra Yachts has announced the sale of the second unit of its X100 Triplex model. The 30-meter composite hull, reinforced with carbon fiber and featuring a maximum beam of 8.1 meters, is designed to provide internal volumes comparable to yachts over 40 meters. The vessel’s gross tonnage is approximately 260 GT.According to the shipyard, the X100 Triplex model is designed to offer large interior and exterior spaces, exceptional comfort, liveability on board, low consumption and the possibility of undertaking long-range cruises. The design includes floor-to-ceiling opening windows on both the main and upper decks, as well as large side windows in the owner’s cabin. At the bow, these windows can retract to provide unobstructed forward views.The exterior configuration features an aft cockpit arranged on two levels. The area near the beach club includes a large sun lounger, while an upper, informal lounge is situated a step above. The sun lounger’s backrest can also be used as a seat, linking the two areas, and the fold-down side terraces enhance the sense of openness. The upper deck includes a lounge area with flexible furniture arrangements, along with a sundeck that has a bar, sunbathing areas, and a dining table for up to ten people.Owners can select from multiple layout options. In this unit, the pantry is located on the main deck, and the galley is on the upper deck. The main deck interior houses a lounge area and the owner’s cabin with a private office, vanity, bathroom with double sink and separate toilet, and a large wardrobe. The upper deck includes the helm station, galley, lounge area with armchairs and coffee table, and a formal dining table for ten. Below deck, four double cabins with private bathrooms comprise two VIPs and two twin cabins. The crew area can accommodate up to five crew members in three cabins, as well as a separate laundry.The aft garage under the sunbathing area stores a tender of nearly 4 meters, two Seabobs, and additional equipment. Standard propulsion is provided by two MAN engines of 1,550 hp each, giving a maximum speed of 15.5 knots and a cruising speed of 12 knots. An optional upgrade to 1,800 hp MAN engines is available, raising top speed to 18 knots and cruising speed to 15 knots.The exterior lines were developed by Studio Agon, with interiors by Laura Brocchini Design and naval engineering handled by the shipyard itself. The second X100 Triplex unit is intended for a client familiar with the Extra Yachts brand.Credit: Extra Yachts
December 18, 2024
At its Annual Members' Assembly on Thursday, December 12, the Italian Marine Industry Association presented forecasts and survey findings outlining upcoming market trends. The data, compiled by the Association’s Research Department, reflects responses collected from a broad sample of member companies.In 2023, the Italian yachting sector reported a turnover of €8.33 billion, marking an increase of €1 billion compared to 2022. This growth of 13.6% follows a previous 20% increase in 2022. A key factor driving the rise in turnover was the export of Italian-built yachts, which surpassed €4 billion in 2023 and climbed to €4.23 billion in the first four months of 2024.The industry’s export rate stands at 90%, reinforcing Italy’s role as a global leader in both the superyacht segment – responsible for more than half of worldwide orders – and in the production of large inflatable units, components, and equipment. The sector’s workforce also expanded, reaching 30,690 employees in 2023, about 7% more than in the previous year.Projections for 2024 indicate a normalization of growth in the yachting sector. Market dynamics are expected to diverge between high-end products and smaller vessels. According to the Association, “the outlook for the Italian yachting industry remains positive overall, despite complex external economic scenarios, due in no small amount to the substantial contribution of the superyacht segment.”Survey results highlight a differentiated situation within boatbuilding. Among companies in the superyacht segment, 75% anticipate a positive year-on-year close, while the remaining 25% expect stability. Order book performance suggests normalized growth rates, with about two thirds reporting a modest decrease in orders (ranging from -5% to -10%) and others indicating stable or slightly positive levels.In boatbuilding under 24 metres, the situation is more varied. About 60% of respondents forecast a contraction in turnover in 2024, with negative ranges spanning from -5% to over -30%. Stability is predicted by 18% of respondents, and 22% foresee growth. In 2025, sentiment appears more optimistic: the share of companies expecting growth remains at 22%, while only a third predict declines, and 45% anticipate stability.In the marine engine segment, 2024 outcomes vary. The survey shows an even split among those recording growth (5% to 20%), stability, or contraction (5% to 20%). For 2025, one third of respondents anticipate an increase in turnover, while two thirds expect stable conditions.Within the equipment and accessories sector, 39% of sampled companies foresee growth in 2024, 42% predict contraction, and the remainder stability. Looking ahead to 2025, 63% expect stable results, 23% anticipate contraction, and 14% foresee improvement.For nautical tourism businesses, 2024 appears positive. Approximately 63% predict turnover growth, 28% expect stability, and only 9% foresee a decline. The outlook for 2025 remains promising, with 55% forecasting continued growth, 39% stability, and 6% a possible contraction.These assessments, pending official figures to be released in the next edition of “La Nautica in Cifre LOG” at the 65th Genoa International Boat Show, suggest that 2024 may mark a stabilization of the yachting industry’s overall turnover. The strength of the superyacht sector helps offset recent difficulties in smaller segments. The forecasts for 2025 indicate a potential recovery, pointing to improved conditions as early as next spring.Credit: Italian Marine Industry Association
December 17, 2024
Heesen Yachts has announced the keel laying of Project Evita, a 57-meter all-aluminium yacht currently under construction at the company’s facility in Oss, Netherlands. The new vessel, featuring a shallow draft suitable for cruising the Bahamas, is designed to reach a top speed of 22 knots at half load.“To achieve such a high top speed, the yacht must be lightweight, so we are naturally building in aluminium – something that we here at Heesen have elevated into an art form over the years,” said Peter van der Zanden, General Manager of Design and Development at Heesen Yachts. “The vertical bow guarantees a long waterline length for maximum efficiency and speed potential, while the aft end is composed of complex sweeping curves. This yacht will be unmistakable when she enters a new harbour.”The exterior, designed by Omega Architects, includes an elongated profile and a distinctive scoop-shaped stern with sharp angles and dynamic lines. As the second vessel in Heesen’s new 57m Aluminum Class with FDHF, Project Evita has a volume of 780 GT.Inside, Harrison Eidsgaard’s interior design accommodates up to 12 guests in six staterooms. A central elevator connects all three decks. Amenities include a pool on the main deck aft and a transom lazarette for water toy storage.Project Evita is scheduled for delivery in the second quarter of 2027.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.Credit: Heesen Yachts
December 17, 2024