When one thinks of the yachting sector, images of opulence and wealth are the first to come to one's mind. Inevitably, those lavish stereotypes are the ones that the general public associates the industry with. As an extension, yacht owners are often viewed as irrational beings who have too much money to spend. These portrayal is however satiric at best and doesn(t reflect the many benefits yacht owners bring to economies.
Superyachts tend to stand out in most marinas and hence draw a lot of attention to themselves, exciting the curiosity and fueling the jealousy of many. It might therefore come as no surprise that when FinandField conducted a survey amongst its audience, mostly composed of hunting and fishing sportsmen, 40% answered that they considered yachts to be a waste of money.
There has arguably been a long-standing history of magazines highlighting the craziest events held onboard super yachts dating back to Onassis's parties in Monaco on Christina O and passing through Malcom Forbes' annual 4th July cruise on the Highlander. As a result, the view that the general public has of yacht owners is somewhat distorted. The vast majority of owners keep their lives extremely private. Relaxing, family friendly cruises simply don't make good enough headlines to sell.
When Tatoosh, the 92.4 meter yacht owned by Microsoft co-founder, Paul Allen has allegedly destroyed part of a reef in the Cayman Islands with her anchor, it was only the pejorative side of the story that was broadcasted by mainstream media. The fact that Mr Allen had proposed a plan to local authorities to rebuild the reef shortly after has however been mostly overlooked.
Selfless acts made by yacht owners are actually not that rare and fall within the much less discussed opposite side of the spectrum. In March 2015, cyclone Pam hit the island nation of Vanuatu located in the South Pacific. To assist with humanitarian efforts, the owner of the 73m Dragonfly sent his yacht to bring medical aid and doctors to remote areas that needed immediate care.
In addition to the overall generous nature of yacht owners, the industry as a whole is an extremely efficient distribution of wealth all by itself. Profit margins for shipyards orbit around 3-4% with most of the expenses going to an extensive number of staff and materials. Bob Saxon, former CEO of IYC, commented "There is no greater redistribution of wealth than to build a yacht. Thousands of workers employed five years, and when the yacht is delivered it is an impressive consumer of goods and services."
As a rule of thumb, yacht maintenance costs 10% of the purchase price which for yachts of around 50 meters is generally near the 2 million dollar mark. The lion share of these expenses is going to crew members. During its operation, a yacht will also require the services of marinas to dock and refuel. Many suppliers are also stocking the yacht with anything from food and beverages to water toys.
Yachts are in fact not so different from companies, most of them are even registered as an Llc for tax reasons. Masses seem however to show much more resentment to yachts as opposed to multinational firms. These superyachts however can have much bigger impacts on local economies and create more jobs than more traditional types of developments.
Thailand, long-inaccessible to yachts due to regulations, has opened up its waters at the end of last year. This comes with a push from the Thai government to create a yachting hub in Phuket to stimulate its economy. "People who own yachts are above-average wealthy individuals, which is the kind of tourist we want to attract to Phuket" said Gulu Lavlani, chairman at the Royal Phuket Marina. The marina in question has set out an extensive, multi-million dollar plan to enhance its facilities.
It therefore seems clear that yacht owners are extremely positive players in economies and might sometimes be depicted as much more extravagant than they really are. In fact, most people never hear about educated and generous yacht owners that are simply to dull for media to report on.
Superyachts tend to stand out in most marinas and hence draw a lot of attention to themselves, exciting the curiosity and fueling the jealousy of many. It might therefore come as no surprise that when FinandField conducted a survey amongst its audience, mostly composed of hunting and fishing sportsmen, 40% answered that they considered yachts to be a waste of money.
There has arguably been a long-standing history of magazines highlighting the craziest events held onboard super yachts dating back to Onassis's parties in Monaco on Christina O and passing through Malcom Forbes' annual 4th July cruise on the Highlander. As a result, the view that the general public has of yacht owners is somewhat distorted. The vast majority of owners keep their lives extremely private. Relaxing, family friendly cruises simply don't make good enough headlines to sell.
When Tatoosh, the 92.4 meter yacht owned by Microsoft co-founder, Paul Allen has allegedly destroyed part of a reef in the Cayman Islands with her anchor, it was only the pejorative side of the story that was broadcasted by mainstream media. The fact that Mr Allen had proposed a plan to local authorities to rebuild the reef shortly after has however been mostly overlooked.
Selfless acts made by yacht owners are actually not that rare and fall within the much less discussed opposite side of the spectrum. In March 2015, cyclone Pam hit the island nation of Vanuatu located in the South Pacific. To assist with humanitarian efforts, the owner of the 73m Dragonfly sent his yacht to bring medical aid and doctors to remote areas that needed immediate care.
In addition to the overall generous nature of yacht owners, the industry as a whole is an extremely efficient distribution of wealth all by itself. Profit margins for shipyards orbit around 3-4% with most of the expenses going to an extensive number of staff and materials. Bob Saxon, former CEO of IYC, commented "There is no greater redistribution of wealth than to build a yacht. Thousands of workers employed five years, and when the yacht is delivered it is an impressive consumer of goods and services."
As a rule of thumb, yacht maintenance costs 10% of the purchase price which for yachts of around 50 meters is generally near the 2 million dollar mark. The lion share of these expenses is going to crew members. During its operation, a yacht will also require the services of marinas to dock and refuel. Many suppliers are also stocking the yacht with anything from food and beverages to water toys.
Yachts are in fact not so different from companies, most of them are even registered as an Llc for tax reasons. Masses seem however to show much more resentment to yachts as opposed to multinational firms. These superyachts however can have much bigger impacts on local economies and create more jobs than more traditional types of developments.
Thailand, long-inaccessible to yachts due to regulations, has opened up its waters at the end of last year. This comes with a push from the Thai government to create a yachting hub in Phuket to stimulate its economy. "People who own yachts are above-average wealthy individuals, which is the kind of tourist we want to attract to Phuket" said Gulu Lavlani, chairman at the Royal Phuket Marina. The marina in question has set out an extensive, multi-million dollar plan to enhance its facilities.
It therefore seems clear that yacht owners are extremely positive players in economies and might sometimes be depicted as much more extravagant than they really are. In fact, most people never hear about educated and generous yacht owners that are simply to dull for media to report on.
Sunreef Yachts unveils its innovative 40M Explorer Eco model, a cutting-edge eco-friendly version designed to redefine yachting and venture far beyond conventional routes. This new vessel features a narrower, more efficient hull that significantly reduces energy consumption, enabling seamless ocean crossings. Sunreef's pioneering ultralight composite construction, paired with a state-of-the-art electric propulsion system, empowers the yacht to navigate vast distances using sustainable energy sources.A standout feature is the expansive swimming platform at the aft, which transforms into a versatile beach club or watersports area based on preferences. Massive folding wings extend the platform, enhancing onboard recreational possibilities. The main deck boasts four spacious guest cabins, while the upper deck serves as the owner's exclusive sanctuary, complete with private quarters and a terrace offering panoramic views.Innovative bow sections absorb incoming waves, enhancing comfort for guests and optimizing energy efficiency during navigation. Equipped with dual 540 kW engines and capable of cruising at 10 knots, the Sunreef Explorer Eco is tailor-made for transatlantic voyages. This 40-meter yacht accommodates up to 10 guests, supported by a dedicated crew of seven.Renowned Sunreef Ambassador Mike Horn, whose collaboration with the brand has been instrumental in inspiring this design, joined forces with Sunreef Yachts' CEO during an expedition in Greenland. "Exploring Greenland under sail with Mike has been a profound motivator for me to drive sustainability in the yachting industry," remarked Francis Lapp, CEO of Sunreef Yachts.Sunreef Yachts was founded by Francis Lapp in 2002 in Gdansk, Poland. Since then, the shipyard has been designing and manufacturing luxury sailing and power multihulls. Credits: Sunreef Yachts
May 3, 2024
Emerging from a highly secretive five-year construction period, Alvia, formerly known as Project Hanami after the iconic Japanese cherry blossom festival, has finally set sail. The 76.1m custom superyacht was handed over to her owner at the Royal Van Lent shipyard in Amsterdam, the Netherlands, on April 30. This remarkable vessel has only been unveiled once before, with her bare hull arriving at the building shed in 2021. Following meticulous craftsmanship, Alvia made a brief appearance outside the Kaag Island drydock in August 2023 for the installation of her stylized mast on the top deck.Originally sold by the Burgess brokerage team in 2019, construction on Project Hanami commenced shortly thereafter. The Burgess technical services team spearheaded the project from pre-contract specification to launch, collaborating closely with the owner's representatives and top-tier engineers and designers in the industry.The exterior design of Alvia was expertly crafted by RWD, while De Voogt handled her naval architecture. Constructed from a blend of steel and aluminum, the vessel boasts a sleek displacement hull, a classic flared bow, and graceful, sweeping lines. Exterior highlights include a 6.4-meter pool on the main deck aft and a versatile sports court on the foredeck. Additionally, the bridge deck features interactive lighting to illuminate your sky-high gatherings.With a generous beam of 13.2-meter, Alvia offers an impressive interior volume of 2,265 GT. Designed by RWD and Susan Young Interiors, the spacious living quarters are easily accessible via an elevator, ensuring convenience for all aboard. The owner's deck features folding balconies that expand to create additional alfresco relaxation areas as desired. Another notable feature is the lower deck wellness center, complete with a gym, spa, and scenic sea terrace.While Burgess did not disclose specific propulsion details, Alvia boasts a transatlantic range of 5,500 nautical miles, allowing effortless navigation between her preferred cruising destinations in the Mediterranean and Caribbean.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: Burgess
May 3, 2024
The team at Damen Yachting has confirmed the delivery of YS 53, Bad Company Support 175. This 53-meter Yacht Support is the first of the YS 53 design series and has been handed over to her Owner, sports fisherman Anthony Hsieh. Bad Company Support 175 will now take on an ambitious ocean-going deep-sea fishing and conservation programme as part of the Owner’s Bad Company fleet.The vessel's design and performance have been meticulously tailored to cater to the Owner's preferences. Bad Company Support 175 will not only serve as fast support to the fleet, she will also operate as a main hub for Atlantic, Pacific and Indian Ocean based activities providing a technical and functional base for equipment and dedicated programmes as well as long and short term onboard living and accommodation facilities for the Owner and his specialist crew.“As the Project Manager for Bad Company 175, I am honoured to have been part of the build of this remarkable vessel – the first in the series.” Salih Saim Kaya, Project Manager Damen Yachting.Throughout the project, communication with the Owner's representative, Neil Emmott, has been open and transparent, ensuring effective collaboration and understanding of the Owner's specific requirements. Neil Emmott explains: “In pursuit of a lifelong dream, the Owner's involvement has been crucial in shaping the project, with enhancements based on his personal and very specific requests, such as accommodating a game boat, including a helicopter hangar, adding a custom jacuzzi, transforming the main deck lounge into a dedicated strategy meeting room, and integrating a Starlink antenna for improved connectivity.”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
May 3, 2024
Baglietto is celebrating its fourth launch this year – last week the Italian shipyard launched the third T52 hull and named Akula.The exterior was designed by Francesco Paszkowski Design, who chose a dark gray shade for the body, which gives this unit a powerful and aggressive look. Enrico Gobbi's design team was responsible for the interior. The Italian Yacht Group as the owner's representative and Fabrizio Lai of Interyachting LLC as the surveyor supervised the entire construction process on behalf of the owner.All the features that ensured the success of this line are preserved here - from the open stern, on which the beach club is located on 3 levels, to the sky lounge on the upper deck, which opens on 3 sides thanks to fully concealed floor-to-ceiling windows, are preserved. At the same time, as in the previous case, a number of innovative solutions can be found on the yacht. The aft part was also redesigned, the garage was replaced with a comfortable gym, and 2 jet skis and a 5.5-meter tender were moved to the bow.The technical launch took place in the presence of the shipyard’s workers, while waiting on the formal ceremony to be held at the beginning of the summer season, when the yacht will be officially delivered to her owner.“We are now stepping into the bustling season of deliveries,” comments Baglietto’s CCO Fabio Ermetto. “This year, as many as 4 T52 vessels and 2 yachts in the DOM133 series will be hitting the water. And, although each yacht is part of a specific line, she is in fact truly one in her kind and the outcome of a long journey made side by side with the Owner. The launch is the culmination of this process”.Baglietto Spa is an Italian boat builder based in La Spezia specializing in new aluminum light alloy yachts ranging between 35m and 50m in length and steel and light aluminum alloy displacement megayachts starting at 40m.Credits: Baglietto
May 2, 2024
Built by Feadship in 1983, the interior and exterior of this legendary yacht was made by Jon Bannenberg for the visionary Mexican tycoon Emilio Azcárraga, alongside her sister ship Paraiso, Azteca made waves in the yachting world with her avant-garde design. AztecaUpon her arrival at Aykin Marina & Shipyard in February 2022, the yacht embarked on a comprehensive transformation, culminating in her relaunch in April 2024. Initial glimpses of her exterior reveal a modern reinterpretation of her distinctive forewindows, complemented by a striking navy hull accented with crisp white detailing. Original interior Among the notable enhancements is the extension of the stern by 3.2 meters, accompanied by a complete overhaul of the transom and sundeck. The latter, achieved through the removal of the original roof structure, promises an elevated onboard experience. Inside, yacht's interiors have undergone a thorough revitalization, with particular attention paid to the conversion of her original television lounge into an additional guest cabin.KoruThe yacht was renamed Koru and now she also boasts revamped technical systems, including a comprehensive overhaul of her main engines, ensuring seamless operation and reliability for future voyages.As Koru emerges from her transformative journey, she stands ready to embark on new adventures, soon the yacht will be available for sale.Credits: Ocean Technical; Feadship
May 2, 2024