In recent years, Asia has rapidly become one of the major territories active in the yachting industry. Thus, after a series of yacht-related acquisitions led by Chinese beneficiaries, 87 percent stake in the Feretti Group is owned by Chinese conglomerate Weichai Group; Dalian Wanda Group was announced to buy a 91,8% stake in Sunseeker Yachts; Lai Sun Group acquired 49.9% of Camper and Nicholsons International for €13 million. Still, according to Bloomberg research, the optimistic forecasts on the development of the yachting market in China turned out to be erroneous.
According to Boat International Media, there are only three confirmed Chinese owners from the TOP-200 of the largest yachts in the world, despite the fact that no other country can boast such a large number of billionaires. The Chinese rich actually do spend money collecting the best works of art, buying sports teams and golf courses. Nonetheless, big vessels remain taboo for them.
Hong Kong broker Eric Noyel from Asia Marine Yacht Services Ltd reports that finding takers for even a modest-size superyacht has now proved almost impossible in China, although only 7 years ago, the China Cruise & Yacht Industry Association predicted a boost on the local market. They stated, there would be 100,000 luxury vessels in China by 2020, raising from 3,000 back in 2012.
Delphine Lignières, chief executive officer of China Rendez-Vous, which runs the boat show in Sanya, says China’s yachting ambitions were suppressed as a side effect of an anticorruption campaign.
Yacht sellers did not anticipate the rapid take-off of Xi Jinping, who became general secretary of the Central Committee of the Chinese Communist Party in 2012. Shortly, he punished over 100 thousand party members, as a result high-level officials had to forget about luxurious life attributives. Part of the propaganda, it has become almost a crime to flaunt one’s wealth in a public way, as 200 million Chinese citizens live in poverty.
Gordon Hui, President of Sunseeker Asia Ltd., which has been selling boats since the beginning of the 2000s, was forced to close three salons in China. Since 2015, he has not sold a single yacht for use in China, though still selling to mainland customers for delivery outside the country.
What is more, there are other reasons behind the choice not to invest in private yachts among the Chinese. The mainland’s coastal metropolises lack repair yards, equipment suppliers, and the rest of the costly support network that private yachts require. There are very few large marines there, so anyone who considers buying a yacht will be forced to moor in Hong Kong, Singapore or Phuket. Some locals even keep their ships far away in the Mediterranean.
In 2015, the rules for operating yachts in the waters of China tightened: now there can be no more than 12 people on-board. Given that a yacht of any size needs a team of six people, there is no room for holding big parties.
Furthermore, the coastal waters of China is a complex water area. In the North, pesticides, waste and chemical fertilisers have poisoned the waters. Qingdao, where the 2008 Olympic Games were held, fights green algae each year. South, in the subtropics, water is patrolled by law enforcement officers. There is a struggle for the disputed territory, and not so long ago, new artificial islands were formed, stocked with troops and weapons.
Billionaire He Xiaopeng keeps his 26-metre yacht in Hong Kong. But as his electric car startup Xpeng Motors consumes all his time, he claims to use the vessel once a year, more often deployed by his friends. Fang Yuan from Heysea Yachts explains, that it is a standard story, as once he visited a boat a year after delivery and found the mattress still packed.
Manufacturers have already noted that, introducing the series of yachts called Tai He Ban, developed by Ferretti. The series is distinguished through practically no places to sleep - the space is reserved for banquet tables and karaoke stage.
One of the few yacht owners in China was Wang Jianlin whose company Dalian Wanda Group took possession of 92% of the British Sunseeker Yachts. His 28-metre yacht was docked at Qingdao marina that he owned, as well. Still, last year he sold both the yacht and the marina where she was located.
Another example, conglomerate HNA Group Co,. used a 49-metre superyacht for charters out of Hainan Island. In January 2019, they sold the ship, fearing pressure from the government, which urged the company to find ways out of the debt trap.
Still, random sales occur here and there on the market. For instance, Simpson Marine managed to find a buyer for a 26-metre boat in China. Further, one of the recent highlights of the local scene was the launch of the 88-metre Illusion Plus - the largest yacht produced in China. In Hainan and Zhuhai, the government is considering building new marinas, although not large enough for Illusion Plus.
Spanish marina operator Ocibar has entered its first international venture by acquiring a 25% stake in Marina d'Arechi, a major Italian marina located in Salerno. The facility, developed and operated by the Gallozzi Group, offers 950 berths for vessels from 10 to 100 meters, along with winter storage and maintenance services.Antonio Zaforteza, CEO of Ocibar, stated: “Marina d’Arechi is one of the great examples of success in marina development in the Mediterranean and still has significant growth potential. Our alliance will further enhance this marina and integrate it into a unique value proposition for its customers and those of the various Ocibar marinas.”Ocibar, which manages marinas in Tarragona, Mallorca, Ibiza, and Valencia, sees the investment as part of its Mediterranean expansion strategy. The Gallozzi Group, active in shipping and port operations since 1952, welcomed the partnership.Agostino Gallozzi, CEO of the Gallozzi Group and Marina d’Arechi, said: “We had contemplated expanding the shareholder base of Marina d’Arechi and are very happy to have Ocibar joining us with a 25 per cent participation, based on shared values and principles of business ethics. Our partnership will propel Marina d’Arechi into a new phase of development.”Planned upgrades include berth expansion, infrastructure improvements, and the construction of a hotel to support Salerno's tourism initiatives.Credits: Marina d'Arechi
April 18, 2025
GB Marine Group, the parent company of Grand Banks and Palm Beach Motor Yachts, has named Lynn Fischer as its new Global Chief Marketing Officer. The appointment follows recent expansions, including a 114,000-square-foot factory upgrade, and aligns with the company’s focus on brand growth and owner services.Fischer, previously Chief Marketing Officer at private aviation firm Vista, brings experience in luxury and premium brand strategy. In her new role, she will oversee marketing, brand development, and customer engagement for GB Marine Group’s yacht brands.Lynn Fischer“GB Marine Group is not only a heritage builder – celebrating nearly 70 years of Grand Banks Yachts and 30 years of Palm Beach Motor Yachts – it's a company at the forefront of next-generation yachting,” said Fischer. “From its ocean racing-inspired manufacturing approach that redefines performance and fuel efficiency, to its use of advanced technology and materials, GB Marine Group is pushing the boundaries of what's possible on the water.”CEO Mark Richards stated, “We are thrilled to welcome Lynn to the GB Marine Group. Her deep expertise in building aspirational brands and delivering personalized client experiences will be instrumental as we bring even more exciting new products to market, expand our global footprint, and evolve our factory-direct strategy.”Fischer’s responsibilities will include brand strategy, digital marketing, global campaigns, and enhancing owner experience programs. The move comes as the company prepares new product launches and expands its factory-direct sales model."GB Marine Group owns and operates three premium yacht brands: Grand Banks, Palm Beach Motor Yachts, and Eastbay YachtsCredits: GB Marine Group
April 18, 2025
Itama has introduced the Itama 54, a new 16.44-meter open cruiser designed to enhance onboard comfort and living space while retaining the brand’s signature style. The model, presented at boot Düsseldorf, marks Itama’s return to the 50 to 59-foot segment.Developed by the Ferretti Group Product Strategy Committee and the Group’s Engineering Department, with exterior and interior design by Tommaso De Luca, the Itama 54 features a streamlined aesthetic with functional innovations. The exterior includes a forward sun pad integrated into the deck and a redesigned transom that provides 1,800 liters of storage for water toys. Access to the bow has been relocated to the starboard side for improved convenience.The deck layout prioritizes comfort, with a large aft sun pad and a dual-cockpit design. The main cockpit includes a convertible dining area, while a second cockpit behind the windscreen offers a sheltered relaxation space. Both are served by a portside bar unit. The helm station features an ergonomic seat and a floating dashboard.Below deck, the Itama 54 accommodates two cabins, two bathrooms, a galley, and a dinette. The master cabin includes a central bed with storage, while the guest cabin offers a choice between a queen-size bed or bunk beds. Interior materials include wood, leather, and fabric, emphasizing simplicity and functionality. Side glazing runs the length of the hull, contributing to a modern silhouette.The yacht is powered by twin MAN i6-730 engines (730 HP) as standard, delivering a top speed of 33 knots and a cruising speed of 28 knots. An optional upgrade to MAN i6-850 engines (850 HP) increases performance to 37 knots top speed and 33 knots cruising speed (preliminary data).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
April 18, 2025
Camper & Nicholsons announces the establishment of its fourteenth office in Viareggio, Italy. This strategic move underscores the company's ongoing dedication to maintaining leadership in yacht construction and design.Located within one of Europe's premier yacht-building hubs, the new facility will focus on new-build sales, refitting services, and comprehensive project management. It symbolizes Camper & Nicholsons' evolving approach to yacht design, aiming to set new benchmarks for creative innovation and superior craftsmanship.According to Paolo Casani, CEO of Camper & Nicholsons, “The rising demand for new builds and project management necessitated establishing a specialized presence to enhance client service delivery. The Viareggio office provides an advanced structure guiding owners throughout all stages of yacht creation, from concept to completion.”Led by Daniela Duck, Managing Director of Camper & Nicholsons Italy, the office aims to cater to the expanding market for customized yacht solutions. Beyond conventional sales and project oversight, the Viareggio branch envisions becoming an inspirational space where clients engage directly in the design process, shaping their visions collaboratively with experts.Additionally, Camper & Nicholsons is pioneering novel digital tools to streamline and elevate the design phase further. This innovative initiative reinforces the company's reputation for pushing boundaries in yacht engineering and aesthetics.With its latest venture, Camper & Nicholsons seeks to usher in a transformative period for yacht development, blending tradition with modern technology. The firm welcomes stakeholders and enthusiasts alike to join in creating the next wave of exceptional vessels.Credits: Camper & Nicholsons
April 17, 2025
U-Boat Worx's submarines aboard Viking and Seabourn expedition vessels are transforming marine exploration, enabling unprecedented discoveries and advancements in oceanography. Powered by state-of-the-art technology, these submersibles facilitate detailed observations and data collection in previously unreachable marine habitats.Recent highlights include the rare documentation of the giant phantom jellyfish (Stygiomedusa gigantea) in Antarctica, marking the first publication of such findings by a cruise line. Other achievements encompass exploratory dives in the Great Lakes, leading to extensive surveys of historic shipwrecks. Most notably, Seabourn Pursuit located the long-lost Titania, a German supply vessel, which had remained undiscovered for over a century.Equipped with sophisticated instruments capable of diving to 300-meter depths, these submarines enable researchers to assess marine biodiversity, evaluate climate change effects, and monitor delicate ecosystems. Their presence aboard Viking and Seabourn ships underscores the synergy between luxury travel and scientific progress, setting a precedent for environmentally conscious exploration.Torstein Hagen, Chairman and CEO of Viking, emphasized, "Every voyage provides opportunities for scientific discovery… Our expedition vessels and scientists have already contributed to research that might not have been possible otherwise." Similarly, Robin West, VP and GM of Expeditions at Seabourn, highlighted the company's dedication to pioneering exploration: "These experiences are a testament to the spirit of expedition... taking guests to places where no other human has ever ventured."By integrating luxury with scientific rigor, Viking and Seabourn exemplify how maritime exploration can yield valuable insights, enhancing global awareness of marine ecosystems and advancing efforts toward sustainable conservation.Founded in 2005, U-Boat Worx leads the global market in designing and manufacturing submersibles for private, research, and cruise industries. With over 60 operational units worldwide, the company prioritizes safety, performance, and comfort, continuously innovating underwater exploration technologies.Credits: U-Boat Worx
April 17, 2025