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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Hargrave Superyachts has launched its new 38-meter tri-deck motor yacht, the Hargrave 125, from its Antalya, Turkey facility. The vessel, designated Project 125, will debut at the 2025 Cannes Yachting Festival.With a 7.92-meter beam and 1.95-meter draft, the Bahamas-compliant design features a displacement hull optimized for long-range cruising. Stabilization systems operate both at anchor and underway. The 330GT interior maintains 2.2-meter ceiling heights throughout its 10-guest, 7-crew configuration.Power comes from twin Caterpillar C32 main engines with matching 75kW generators, delivering a 17-knot cruising speed. An ASEA power converter ensures global shore power compatibility. The yacht carries a 10-year structural warranty and equivalent coverage for main mechanical components.Hargrave includes a six-month management package with each sale. The vessel remains available for inspection ahead of its Cannes showing.Credits: Hargrave Custom Yachts
June 20, 2025
The Yacht Club Costa Smeralda is hosting the 2025 Swan One Design Worlds from June 17-21, featuring 35 teams from 30 nations competing across four one-design classes. The event marks the competitive debut of the ClubSwan 28 class alongside established ClubSwan 36, 42 and 50 fleets."The Swan One Design Worlds highlight the energy and camaraderie of the ClubSwan family," said Luisa Bambozzi, Managing Director of ClubSwan Racing. "Porto Cervo provides the ideal setting to combine world-class racing with vibrant shoreside activities."The regatta features defending champions in multiple classes, including Mamao (ClubSwan 36) and Nadir (ClubSwan 42). Notable entries include Leonardo Ferragamo's Cuordileone and Marcus Brennecke's Hatari in the ClubSwan 50 division. The newly introduced ClubSwan 28 class will compete for its first Gold Cup, with seven teams including youth entry NOX OCEANI featuring 13-year-old helmsman Giorgio Nocella.Giovanni Pomati, CEO of Nautor Swan, emphasized the event's community aspect: "This regatta represents the unity and international spirit that defines the ClubSwan family." The competition schedule allows for eight races per class (ten for ClubSwan 28), with Mistral winds expected for the final racing days.Social events include class dinners and an owners' reception at YCCS, culminating in Saturday's prize ceremony. The ClubSwan Academy continues its youth development program, providing young sailors access to competitive racing platforms.Nautor Swan was founded in 1966 in Pietarsaari, Finland. The builder entered the superyacht market in 1999. Since then, the yard has continued building high-performance sailing yachts in three different lines; ClubSwan, Swan Yachts and Maxi Swan Yachts. Credits: Nautor Swan
June 19, 2025
Italian yacht builder Mylius Yachts has revealed details of its new M60GL sailing yacht, an 18.5-meter performance cruiser-racer designed by Giovanni Ceccarelli. The first unit is currently under construction for a European owner, with delivery scheduled for 2026.The M60GL features a carbon fiber hull with Corecell core construction, combining racing performance with cruising comfort. The design includes a 24-meter carbon mast supporting a 120 sqm mainsail and 325 sqm gennaker, with deck hardware from Harken Racing GP. The yacht's 5.5-meter beam provides expanded social areas while maintaining competitive sailing characteristics."Ceccarelli has captured the owner's brief perfectly, blending innovation with our family feeling of speed, beauty and comfort," said Mylius Yachts CEO Valentina Gandini. The first hull will feature a three-cabin layout with bleached oak flooring and high-gloss white bulkheads, showcasing the yard's customization capabilities.Key features of the M60GL include twin helm wheels with integrated Mylius branding, a convertible transom serving as both swim platform and tender garage, and removable cockpit elements that allow conversion between racing and cruising configurations. The yacht's systems include B&G instrumentation and domotic controls, with optional removable appliances for racing use.Mylius reports strong market interest in the model, which targets owners seeking competitive racing capability without sacrificing cruising comfort. The M60GL represents the yard's continued focus on fully customized carbon fiber construction for performance-oriented sailing yachts.The Mylius Yachts shipyard, headquartered in Podenzano, has been dedicated to the construction of fast sailing vessels and performance cruisers with a recognizable and winning style since its foundation. Mylius is among the leaders in the production of yachts ranging from 55 to 80 feet. Mylius has added the production of motorboats, including fast motorboats and habitable motor yachts.Credits: Mylius Yachts
June 19, 2025
Damen Yachting has commenced sea trials for the first 80-meter Amels Limited Editions superyacht, marking the final phase before its scheduled summer delivery. The vessel represents the latest addition to the Amels series, featuring hybrid propulsion technology designed to reduce emissions and enable quieter operation.Project manager Romke van der Linde stated: "The sea trials offer a unique opportunity to experience firsthand the innovation, design, and power that this yacht delivers." The trials will evaluate the yacht's performance, including its hybrid system's efficiency and operational capabilities.The Amels 80 incorporates design elements focused on sustainability alongside traditional Dutch shipbuilding techniques. The yacht's technical specifications and interior layouts remain undisclosed, though Damen Yachting confirms the vessel maintains the Limited Editions' standard configuration options.Construction of the Amels 80 began at Damen's Vlissingen facility, with the hull and superstructure completed before the start of outfitting. The sea trials will be conducted in the North Sea, with final delivery to the owner expected following successful completion of all tests.Damen Yachting currently has multiple Amels Limited Editions models in various stages of construction at its Dutch shipyards. The 80-meter platform joins the existing 60-meter and 78-meter offerings in the series.Damen Yachting, a division within the Damen Shipyards Group, was created in 2019. The division combines the pedigree and heritage of Amels yachts with a growing portfolio of SeaXplorer yachts and Yacht Support vessels.Credits: Damen Yachting
June 18, 2025
The European Boating Industry (EBI) federation has elected Fabio Planamente, Vice President of the Italian Marine Industry Association, as Special Representative for the Large Yacht Sector during its General Assembly in Hamburg. Planamente will serve a two-year term on the EBI board alongside newly elected President Robert Marx (VMWD/Germany) and other European industry leaders."I am honored to have received this assignment," said Planamente. "This role recognizes the work carried out by our President Piero Formenti during his terms leading EBI, and confirms Italy's strategic position in the global yacht sector." The Italian delegation will focus on US/EU tariffs and new propulsion technologies during the upcoming term.Fabio PlanamenteThe Assembly saw EBI formalize new partnerships with the European Fishing Tackle Trade Association and Foundation for Environmental Education, while establishing a permanent Life Cycle Assessment working group. Membership expanded to include ACAP-APICAN (Portugal), Fédération Française Ports de Plaisance (France), and the returning Slovenian Marine Industry Association, bringing total representation to 32 members across 21 European countries - the highest since EBI's 2009 founding."This appointment confirms Italy's leadership in the large yacht industry," stated Piero Formenti, President of the Italian Marine Industry Association. The federation reviewed progress on its Blue Boat Horizon initiative and prepared for upcoming EU regulatory discussions affecting marine industries, including sustainability standards and marina certifications.EBI, where the Italian Marine Industry Association holds founding member status, serves as the principal European recreational marine industry representative. The expanded board now includes delegates from all major European boating markets to address sector-wide challenges.Credits: Italian Marine Industry Association; Unsplash
June 18, 2025