Equanimity is 91.5-metre yacht built by Oceanco and delivered in 2014. Her owner is Malaysian financier, Jho Low. Previously, Equanimity was seized by the request of the US Government and then was in the spotlight of the US Government. Recently, an Indonesian court blocked U.S. efforts control a $250 million yacht connected to fraud scandal, on the basis that its arrest off the resort island of Bali was invalid and saying the vessel should be returned to its owner.
The U.S. Justice Department contends that the Equanimity was acquired with money stolen in fraudulent schemes linked to the state investment fund 1Malaysia Development Bhd. The Indonesian judge said that the seizure of the yacht in Bali by Indonesian police acting at the request of U.S. authorities was “invalid and legally baseless.” The judge ruled the seizure was invalid on a technicality. He said the U.S. request didn’t follow a 2006 law on mutual legal assistance because it didn’t go to the Justice Ministry, but directly to police. The ruling can’t be appealed.
Equanimity is owned by a trust that is controlled by a Malaysian financier, Jho Low, who the Justice Department alleges is a central player in a $4.5 billion fraud that involved siphoning money from 1MDB. The fund was set up by Malaysian Prime Minister Najib Razak in 2009 and is the focus of investigations in half a dozen countries. Both 1MDB and Mr. Najib have denied wrongdoing and said they would cooperate with any lawful international investigation.
Multiple investigations in Malaysia into 1MDB closed without finding wrongdoing. Indonesian police said they accept the verdict and will soon turn over the 300-foot, Cayman Islands-flagged vessel to its owner, Equanimity (Cayman) Ltd. The U.S. Embassy in Jakarta referred queries to the Justice Department. The department didn’t respond to requests for comment. In a statement to Yacht Harbour, a spokeswoman for Equanimity's owner said:
"Claimants, the owners of Equanimity, welcome the Indonesian court's ruling, which upholds the rule of law and confirms that the FBI-instigated seizure of the vessel was improper and unlawful. The incident is yet another example of the unjustified global overreach by the U.S. Government, which has gone to extreme and improper lengths to seize assets around the world while steadfastly avoiding having to prove that there are any merits to its case."
Indonesian police came aboard the Equanimity in Bali on Feb. 28 after the vessel had cruised Southeast Asian waters for months. FBI agents and Indonesian police searched the vessel and its computers and interrogated crew members. The boat has stayed in Bali with a crew on board while the case moved through the courts. Lawyers for Equanimity (Cayman) Ltd. said that the seizure didn’t follow Indonesian law on providing mutual assistance to foreign law-enforcement agencies.
The U.S. has sought via civil lawsuits in California, since mid-2016, to seize almost $2 billion in assets allegedly bought with money stolen from 1MDB, including mansions, a Bombardier jet and royalties from the film “The Wolf of Wall Street.” The Equanimity is the largest single asset. The U.S. has asserted in court filings that U.S. laws were broken in the larger 1MDB case, and that gives it rights to those assets.
The Justice Department had hoped to quickly transport the boat to the U.S. to sell. In the U.S., the government has filed a civil asset forfeiture case against the Equanimity, which means that the asset cannot be sold until the case is resolved. To take possession of the boat, the government has to prove it was bought with stolen money. All asset forfeitures tied to the 1MDB case are technically on hold, because the government asked for a temporary stay on all 17 cases while it completes a parallel criminal investigation into 1MDB affair and all dealings related.
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Riva has expanded its Destinations collection with a new lounge at Hotel de Mar Gran Meliá in Mallorca, officially opened on May 15. The venue combines Riva’s signature yacht styling with the hotel’s Mediterranean hospitality, featuring mahogany, ribbed maple, and steel finishes alongside iconic Aquariva lamps and Aquarama chairs.The lounge includes an indoor dining area and a sea-view terrace, complemented by a private Riva Privée area. Guests can charter a Rivamare yacht for coastal exploration, sunset aperitifs, or private dining.Located on Mallorca’s Illetas coastline, Hotel de Mar – designed by architect José Antonio Coderch – joins Riva Destinations’ existing lounges in Venice, Monte Carlo, Paris, and Jeddah. The opening event was attended by local celebrities, officials, and high-profile guests.No further expansion plans for additional Riva Destinations were disclosed. The lounge is now operational for hotel guests and external visitors.The Ferretti Group, led by Chief Executive Officer Alberto Galassi, is now one of the world’s leaders in the construction and sale of luxury yachts and pleasure vessels, with a unique portfolio of brands: Ferretti Yachts, Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.Credits: Ferretti Group
May 16, 2025
Feadship has completed its first two transactions through its recently launched Feadship Resale service. The sales include the 75.75-meter ONE (2025), co-listed with Edmiston and sold via Burgess as buying broker, and the 83.50-meter Savannah (2015), also co-listed with Edmiston.SavannahThe Dutch shipyard established Feadship Resale in late 2024 to leverage its technical expertise and historical build data in the brokerage market. The division currently represents six Feadship-built yachts, including the newly added 57.60-meter W."For years, owners have asked us to help sell their yachts," said Arjen van Elk of Feadship Resale. "We always directed them to brokers, but now we can offer something far more comprehensive. We know the yachts inside out – we built them."ONEThe service operates exclusively upon owner request and maintains collaborative relationships with established brokerage firms. Feadship emphasizes its role as a technical consultant rather than a direct competitor to traditional brokers, offering build specifications, maintenance records, and engineering insights to facilitate transactions.SavannahMarket response has been immediate, with multiple owners approaching Feadship directly to list their vessels. The shipyard attributes this to client confidence in its institutional knowledge of Feadship-built yachts.ONEThe Resale team now focuses on expanding its portfolio while assisting prospective buyers and sellers. No financial details were disclosed regarding the completed transactions. Feadship confirms the service will remain exclusive to yachts built by the consortium, with no plans to represent third-party vessels.The division's launch reflects growing demand for technical transparency in the superyacht secondary market, particularly for complex vessels exceeding 50 meters. Feadship's move follows similar manufacturer-backed resale programs emerging in the luxury marine sector.SavannahWith ONE and Savannah sales finalized, Feadship Resale prepares to handle additional transactions through 2025. The shipyard reports strong interest from both repeat clients and new buyers seeking verified build quality and maintenance history.Based in the Netherlands and with roots dating back to 1849, Feadship was formed as a group in 1949 as a marketing partnership between six Dutch shipyards, de Vries Lentch, Van de Stadt, Witsen & Vis, Akerboom, De Vries Scheepsbouw and Van Lent Shipyard, and De Voogt Naval Architects. Feadship is well-known as one of the Netherlands’ most elite yacht builders and delivers superyachts from 50–100+ meters in length.Credits: Feadship
May 16, 2025
CL Yachts has revealed its new CLB65 SUV model, a 19.7-meter sport yacht set to make its global premiere at the 2025 Sanctuary Cove International Boat Show in Australia. The announcement comes as the brand's existing CLB65 model completes its tour of major boat shows across Asia-Pacific and North America.The SUV variant maintains the B-Series' functional elegance while introducing enhanced versatility for owner-operators. Power options include twin Caterpillar C18 or Volvo Penta D13 diesel engines, both capable of reaching 30 knots. The yacht features a ZF JMS boat control system for simplified docking and offers certification options between RINA Hull Construction and CE Category B Class standards.Designed by Hong Kong-based Supertomato Studio, the interior presents two décor schemes in walnut or white oak. The full-beam master stateroom incorporates dual hull-side windows and walnut finishes, while the VIP cabin includes a skylight. A convertible guest cabin adapts between twin and single bed configurations.Social areas emphasize fluid indoor-outdoor connectivity, with a flip-up window linking the galley to the aft deck's electric grill and bar seating. The salon features expansive glazing, a pop-up rotatable TV, and optional sunroof ventilation. A multifunctional stern area serves as either a beach club or fishing platform, with stabilization available via fins or gyro systems."Coming at the very peak of the yachting season, we are so excited to unveil our CLB65 SUV to the industry," stated CL Yachts. CL Yachts’ goal is to offer unparalleled experiences to the modern explorer. The luxury performance brand stands apart from its competitors thanks to its unique approach to design – driven by CL Yacht’s core value of innovation. Fusing progressive design with engineering prowess and state-of-the-art technology, every element of CL Yachts’ vessels are meticulously geared to steer luxury into uncharted territories.Credits: CL Yachts
May 16, 2025
Royal Huisman has commenced work on Project 412, an 80-meter-plus sailing yacht for a repeat client. The full-aluminum vessel will rank among the largest sailing yachts built by the Dutch shipyard when completed.The yacht features a carbon rig supplied by Rondal, designed for performance sailing and global circumnavigation. While exterior details remain confidential, the project continues Royal Huisman's specialization in large-scale sailing superyachts.Jan Timmerman, CEO of Royal Huisman, stated: "We are honored to embark on this new super-sized sailing yacht project for a returning owner. Project 412 promises a true sailing experience while offering a distinctive and sustainable alternative to large powerboats."The construction reinforces Royal Huisman's position in the XXL sailing yacht segment. No delivery date or additional specifications were disclosed. The yard currently has multiple large sailing projects in progress at its Netherlands facilities.Project 412 will join Royal Huisman's portfolio of custom sailing superyachts, which includes several of the world's largest sailing vessels. The commission demonstrates continued demand for performance-oriented sailing yachts in the 80-meter-plus range.Royal Huisman is a Dutch shipyard established in 1884 in Ronduite, building and refitting custom luxury sailing and motor yachts at its shipyard in Vollenhove, the Netherlands.Credits: Royal Huisman
May 15, 2025
Sanlorenzo S.p.A. announced its Q1 2025 financial results, reporting €213.5 million in net revenues from new yacht sales, a 9.6% year-over-year increase. The company's EBITDA rose to €37.0 million (+8.5% YoY), while net profit reached €21.2 million (+8.0% YoY).The Superyacht Division grew by 10.4%, and Nautor Swan contributed €23.8 million in revenues. Geographically, the Americas saw a 40.6% increase, while Europe grew by 8.6%. The company’s backlog stands at €1.2 billion, with 89% of orders sold to final clients and deliveries scheduled through 2028.EBITDA margin slightly decreased to 17.3% (from 17.5% in Q1 2024), attributed to the Nautor Swan acquisition. Excluding this effect, profitability would have improved. EBIT increased by 4.2% to €26.8 million, maintaining a 12.6% margin.Net financial position shifted to -€28.1 million due to seasonal working capital needs ahead of the Mediterranean delivery season (May-July). The company also repurchased €3.7 million in treasury shares and acquired 60% of AF Arturo Foresti S.r.l. for €0.7 million.Order intake in Q1 2025 reached €178.1 million (+5.9% YoY), reinforcing confidence in the Sanlorenzo, Bluegame, and Nautor Swan brands. The company confirmed its 2025 guidance, citing strong demand with waiting lists extending to 2028.Massimo Perotti, Chairman and CEO, stated: *"Our business model – unique in the international yachting landscape – continues to deliver excellent profitability and long-term visibility. We are reinforcing leadership in the 30 to 50-metre segment, supported by a sophisticated client base and semi-custom production."*Perotti noted that only 5% of revenues come from yachts under 30 meters, minimizing exposure to potential U.S. tariff risks. The company remains optimistic about sustainable growth and value creation.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
May 15, 2025