After nearly 30 years of building yachts in Vancouver, Washington, Christensen Shipyards finishes relocation process within several months, moving to a new facility at Tellico Lake, Tennessee. The move follows a long-lasting court battle between the co-owners of US yard, Dave Christensen and Henry Luken. Yacht Harbour takes a closer look at the story behind the decision.
Dave Christensen founded the Christensen Shipyards, Ltd. in 1985. Since then, the company specialised in building yachts of up to 45 metres LOA and a maximum beam of 10 metres within its 17,000 m2 facility. During the 1990s, affected by general crisis in the industry and high costs of yacht construction, the company’s revenue became inconsistent. Often unable to get bank loans to finance projects, they were selling yachts in advance, with ongoing operations financed by not very frequent customers.
Dave Christensen and Henry Luken first met in 1997, when the latter purchased a yacht from the yard. In 2003, Luken bought 50 percent share of the company’s stock, joining the board of directors. The remaining shares were split between Christensen and his family.
As it was later revealed from the legal filings, the owners parties’ discontent with each other had been raising from that time, as Luken claimed his funds were allocated on company expenses and operations or even ended up missing, instead of being held in trust while the boats were being built. The Christensens argued that Luken demanded large commissions on every yacht sale, reducing the company’s revenue.
In 2006, Luken began construction of another facility at the Tellico Lake in his home state of Tennessee. He aimed to open an eastern division of Christensen yachts, suitable for construction of larger vessels. However, due to economical problems the building was soon frozen. The economic downturn also hit the company’s Vancouver operation, eventually forcing the company to lay off up to 80 percent of its local workforce.
Starting from the end of 2014, multiple creditors began to file notices under the Uniform Commercial Code, declaring interest in the property as collateral for debts. The edge of bankruptcy led Luken to file a lawsuit in 2015 asking for the company to be placed into receivership. After a period of receiveship, the court decided that the best way to repay creditors would have been through selling the company to a buyer willing to keep its operation.
Thus, the shipyard was sold to Luken for $5,500,000 despite objections from the Christensens. The acquisition implied name and all the company’s assets including a long-term lease on the shipyard and reforming Christensen Yachts as a new business entity. The Christensens though argued that Luken
used his financial influence and position on the board to draw the company into receivership so that he could purchase it cheaply.
A second lawsuit between the parties was filed one year later, lasting more than two years until both parties agreed on selling Vancouver facility to Vigor Industries, American shipbuilder and ship repairer, in February, 2019. The latter plans to manufacture a new type of landing craft for the U.S. Army called the Maneuver Support Vessel (Light) at the yard. Vigor plans to start with employing 130 workers and grow up to 400 after a few years, as Christensen used to employ 500 people at the peak.
According to Christensen’s President, Jim Gilbert, the company is now negotiotiating for the first contracts to be implemented within the new facility. The construction processes at the new yard finishes in 6 months, and the company is to come up with some fresh designs models within the time. However, they are going to stick to the traditional focus on large volume boats in general.
The company is currently building a 50-metre Hull 42 at Vancouver facility, but the vessel will be moved to Tennessee this summer for completion. Christensen yachts currently employs about 70, Gilbert said, and all of them are being offered the chance to stay with the company at their current salary if they move to Tennessee.
All in all, members of the Christensen family have not commented on the details of the settlement. According to Luken, it implied a lien on the shipyard property, and that he would receive nearly $ 5,000,000 from the sale. Despite that, Luken still claims that his involvement with the company caused him in an estimated net loss of nearly $15,000,000, largely due to a yacht he bought from the yard, never seeing her delivery.
The Olympic Yacht Show 2025 will take place at Olympic Marine in Lavrio from October 9-12, with preparations currently underway. This year's edition will feature 140 yachts, 400 luxury brands, and host 5 world premieres alongside 14 European debuts, marking the largest iteration of the event to date.Exhibitor registration shows strong participation from major industry players, including shipyards, dealers, and marine specialists. The event continues to attract both returning and new international participants, reflecting its growing influence in the European yachting calendar.The show will present new yacht models ranging from hybrid propulsion systems to mega yachts, maintaining its position as a platform for industry innovation. Organizers anticipate record attendance from industry professionals and yachting enthusiasts.As Greece's primary yachting exhibition, the 2025 edition will focus on business networking opportunities while showcasing current design and technology trends in the marine sector. The event reinforces Greece's role in Mediterranean marine tourism and luxury yachting markets.Credits: Zisis Dalakouras/The Olympic Yacht Show
July 22, 2025
Damen Yachting has launched the newest 60-meter Amels Limited Editions superyacht, with delivery scheduled for autumn 2025. The vessel represents the next generation of the Amels 60 series, maintaining the line's charter-ready features and eco-conscious design approach.The yacht features exterior design by Espen Øino and custom interiors by London-based Harrison Eidsgaard, marking the studio's second Amels 60 project. The interior concept emphasizes contemporary styling with enhanced visual connections to the marine environment.Paul Deurloo, Damen Yachting's Project Manager, stated: "It is one of the highlights of the build process when we get to see the superyacht coming out of the shipyard. We are delighted to show her to the world."The Amels 60 series continues to offer accelerated delivery timelines as part of its Limited Editions concept, with this unit available for handover within approximately 15 months. The yacht joins an existing fleet of Amels 60 vessels, all built on Damen Yachting's established naval architecture platform while allowing for individual customization.The newly launched unit is currently available for purchase, with Damen Yachting continuing production of the Amels Limited Editions range at its facilities in the Netherlands. The autumn 2025 delivery schedule positions the yacht for potential Mediterranean or Caribbean cruising seasons.Damen Yachting, the yacht-building division of Damen Shipyards Group, employs approximately 500 professionals across its Amels, SeaXplorer, and Yacht Support vessel programs. No purchase price was disclosed for the new build.Credits: Damen Yachting
July 22, 2025
Arcadia Yachts has secured the sale of its fourth A96new unit, continuing the model's commercial success following previous sales in Turkey and Middle Eastern markets. The latest 29-meter yacht will operate in the Mediterranean following delivery.The buyer selected the existing interior design by Igor Lobanov, maintaining the Art Deco-inspired dark lacquered surfaces featured on the first hull, with only minor customizations requested. The A96new series emphasizes holistic wellbeing concepts in its layout and amenities.Ugo Pellegrino, CEO of Arcadia Yachts, stated: "The new direction charted by the A96new has tapped into a need felt by owners all over the world, which is why we're so proud to present the A80new at the upcoming Cannes Yachting Festival, a boat designed for owners seeking the same lifestyle on board but in a slightly smaller format. We expect this new model to have the same success as the series flagship."The Sorrento-based shipyard will debut the 24-meter A80new model at September's Cannes Yachting Festival, targeting owners seeking similar features in a more compact package. Current production continues on the A96new series while the yard prepares its new smaller model for market introduction.The consecutive sales demonstrate sustained demand for Arcadia's wellbeing-focused yacht designs, with the A96new establishing itself as the brand's current flagship offering. The upcoming A80new presentation will test market reception for the scaled-down version of the concept.Arcadia Yachts is based in Naples, Italy. Since 2008, Arcadia Yachts has been building semi-custom luxury composite yachts and has succeeded in perfectly integrating artisanal craftsmanship, modern technologies, attention to detail and to the surrounding environment. The Arcadia Yachts fleet has included two ranges since September 2016. The shipyard’s first and most characterizing range is the A range, which includes four models (A85, A85s, A105 and A115). The Sherpa range has a new model, the 24m Sherpa XL, which was launched at the 2019 Cannes Yachting Festival. The new model, A96, debuted at 2023 Cannes Yachting Festival.Credits: Arcadia Yachts
July 22, 2025
Tankoa Yachts has launched M/Y Singolare, the second unit in its T450 series, at its Genoa shipyard. The 45-meter yacht, designed by Giorgio Maria Cassetta, follows the successful delivery of the first T450 model, M/Y GO.The launch ceremony was attended by the South American owner and family members. The yacht features a fully enclosed veranda with climate control, an elevator connecting main to sun deck, and a flush foredeck concealing a watertight tender garage. The upper deck includes a sauna, gym, and private cinema.Brazilian architect Debora Aguiar designed the interiors, featuring floor-to-ceiling wine cellars and sliding glass panels connecting indoor and outdoor spaces. The main deck contains a master suite with walk-in wardrobe and steam shower, while the lower deck accommodates four guest cabins and crew quarters.Guido Orsi, Tankoa Yachts Vice President, stated: "This launch marks another important milestone for Tankoa. It strengthens our position in the international markets, particularly in South America, where demand for high-end yachts is steadily increasing."The shipyard currently has another 45-meter hull and two 50-meter T500 models under construction, all presold. M/Y Singolare will be delivered this summer for Mediterranean cruising before relocating to the Caribbean for winter season.The launch reinforces Tankoa's position in the 45-50 meter custom yacht segment, with the T450 series demonstrating strong market demand.Tankoa was founded in 2007 and began production in 2008. A true “boutique shipyard”, focused on building semi-custom and custom constructions 45-meter and up.Credits: Tankoa
July 22, 2025
The first hull of Riva's new 112' Dolcevita Super model has launched from the brand's La Spezia facility. Measuring 34.37 meters with a 7.27-meter beam, this flybridge yacht expands upon the successful 110' Dolcevita design with enhanced outdoor spaces and improved water access.Developed by Officina Italiana Design in collaboration with Ferretti Group engineers, the yacht features a 35-square-meter beach club with fold-out terraces and storage for water toys. The stern garage accommodates a tender and jet ski while the cockpit offers multiple lounge configurations. Owners can choose between additional bow seating or a Jacuzzi in the forward area.The flybridge presents redesigned living spaces with a central bar area and entertainment systems. Interior options include two main deck layouts - one with aft dining and another with traditional forward lounge placement. The master suite incorporates larger windows and redesigned storage solutions.Standard power comes from twin MTU 16V 2000 M96L engines delivering 2,638 hp each, providing a preliminary top speed of 25.5 knots. An alternative MTU M97L engine package includes SCR emissions reduction technology. Stabilization systems include zero-speed fins with Humphree interceptors, with optional Seakeeper gyroscopic stabilizers available.Bridge configurations range from standard quad 19-inch monitors to a premium option with dual 49-inch displays selected for this first unit. Soundproofing measures include reinforced bulkheads between crew and guest areas on the lower deck, which houses four VIP cabins. Interior finishes combine high-gloss rosewood with black hammered leather detailing.The yacht is scheduled for its official debut at the 2025 Cannes Yachting Festival, representing Riva's latest development in the 30-40 meter flybridge segment. Production continues at Riva's La Spezia yard alongside other models in the 70-130 foot range.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
July 21, 2025