![the superyacht group Boat logo](https://www.boatinternational.com/static/img/logo.png)
The global authority in superyachting
- NEWSLETTERS
- Yachts Home
![](http://gu.isilkul.online/777/templates/cheerup/res/banner1.jpg)
The Superyacht Directory
- Yacht Reports
- Brokerage News
- The largest yachts in the world
- The Register
- Yacht Advice
- Yacht Design
- 12m to 24m yachts
- Monaco Yacht Show
- Builder Directory
- Designer Directory
- Interior Design Directory
- Naval Architect Directory
- Yachts for sale home
- Motor yachts
- Sailing yachts
- Explorer yachts
- Classic yachts
- Sale Broker Directory
- Charter Home
- Yachts for Charter
- Charter Destinations
- Charter Broker Directory
- Destinations Home
- Mediterranean
- South Pacific
- Rest of the World
- Boat Life Home
- Owners' Experiences
- Conservation and Philanthropy
- Interiors Suppliers
- Owners' Club
- Captains' Club
- BOAT Showcase
- Boat Presents
- Events Home
- World Superyacht Awards
- Superyacht Design Festival
- Design and Innovation Awards
- Young Designer of the Year Award
- Artistry and Craft Awards
- Explorer Yachts Summit
- Ocean Talks
- The Ocean Awards
- BOAT Connect
- Between the bays
- Golf Invitational
- BOATPro Home
- Superyacht Insight
- Global Order Book
- Premium Content
- Product Features
- Testimonials
- Pricing Plan
- Tenders & Equipment
The Superyacht Directory is the world’s largest database of private luxury yachts, with over 12,000 megayachts listed. It’s the most authoritative place to find everything you need to know about superyachts – including new builds, historic vessels and the most famous boats of all time.
You can filter your Superyacht Directory search results by a number of specifications including speed, length and year of build, or select the builder, exterior designer or interior designer to narrow your search. With the Superyacht Directory, you can be as precise as you like, with options to filter by engine power, draught or displacement, propulsion system or hull material and more. You can use the Superyacht Directory to search by yacht type, breaking down your results into motor yachts, sailing yachts, explorer yachts or classic yachts.
Yacht search
Popular yachts, the fastest yachts in the world, the longest superyachts in the world, from our partners, sponsored listings.
We help our clients stand out in a crowded superyacht landscape with exhaustive research, expert insight, engaging ideas, unique solutions and intelligent execution.
Drawing on the unparalleled depth of knowledge and experience within The Superyacht Group, The Superyacht Agency’s team of brilliant creatives, analysts, event planners, digital experts and marketing consultants combine four cornerstones – Intelligence, Strategy, Creative and Events – to deliver the most effective campaigns and strategies. We are based on the vibrant Northcote Road in London, so drop by for a coffee (or a beer depending on the time of day), and a chat about how we can help you.
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/pagesections/1/uzdm3cv0qqa4x4xdmh19.jpg)
Intelligence
We can help you make sense of the superyacht market with intelligent services tailored to your needs. By combining the unrivalled expertise of The Superyacht Group's editors and analysts with the strategic thinking of our Agency team, we can deliver the research, methodology and analysis that can support anything from a business plan or an economic impact study to a brand and communications strategy or a market positioning assessment.
Understanding where you want to be – and knowing how to get there – is perhaps the most important part of a strategy, whether it concerns business development, brand positioning, or market awareness. By combining the insight gleaned from our market-leading data and intelligence proposition with our unparalleled sector knowledge and unrivalled strategic and creative team experience, we develop business, brand and marketing strategies that are consistently effective and deliver results.
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/pagesections/3/bg1czb0b8hahozk90q2k.jpg)
The superyacht market is made up of a diverse mix of brands and marketing collateral that has, over the years, followed a copycat approach. Our team of creatives monitor the market and watch the wider world of branding to bring our client fresh ideas and creative solutions that will stand out and create an impact or get noticed for the right reasons.
We create bespoke events that deliver value, customers and loyalty. From forums, parties, and sit-down dining experiences to think tanks, workshops and pop-ups, we realise the importance of bringing customers together for a strategic purpose, not just a social gathering. People say there are too many events in the calendar – we say there are not enough quality customer experiences.
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/pagesections/5/todou2hnttpdamykczy7.jpg)
Superyacht Intelligence Consultancy Report
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/8/plt2lalldmse7iqptzvh.jpg)
Camper & Nicholsons
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/9/ae812tqejo35430siw22.jpg)
De Basto Designs
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/3/zu8pu2kf5d6v11rbcjwr.jpg)
OneOcean Port Vell
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/22/i6y7cbth24kh4bv8t1mo.jpg)
Radio Holland
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/27/r240d060i469x1bif9i1.jpg)
Red Ensign Group
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/18/2ik3rgsqngtu50tx8byz.jpg)
The Status of the New Build Market
![the superyacht group the superyacht group](https://media.superyachtnews.com/uploads/tsa/37/vvypvmwbj1tez5b3gr4f.jpg)
The Superyacht Agency Credentials
Who we work for.
![the superyacht group Bermuda](https://media.superyachtnews.com/uploads/tsa/clients/1/9u8d9qcm40vag9hh2bxu.png)
I have reviewed the McMullen & Wing corporate book and I cannot fault it, it’s fabulous. The Superyacht Agency did a great job, with very little time, and always working with a smile
MICHAEL EAGLEN MCMULLEN & WING
The Superyacht Agency grasped the brief immediately, executed it professionally, on time and within budget. Their writers, photographers and designers are all of the highest calibre
PATRICK COOTE MARKETING DIRECTOR
How can we help you?
- 3-7 Northcote Rd, Clapham, London SW11 1NG
- 020 7924 4004
- [email protected]
- SuperyachtAgency
- The Superyacht Agency
© The Superyacht Agency Limited 2024
Terms and Conditions | Privacy Policy
Dubai: The New Playground For The World’s Superyachts
![the superyacht group Dubai Tourism](https://specials-images.forbesimg.com/imageserve/66d08f1ebb54eae654993b6e/400x0.jpg?cropX1=0&cropX2=1080&cropY1=0&cropY2=1080)
- Share to Facebook
- Share to Twitter
- Share to Linkedin
Its 22 marinas and top-notch maritime services support a thriving yachting ecosystem.
Dubai is attracting some of the world's most impressive superyachts.
Dubai’s marinas have hosted some of the world’s most impressive superyachts, owned by tycoons, royal families and celebrities. Notable superyachts spotted in U.A.E. waters over the past season (October 2023 to June 2024) include the 141-meter Nord , estimated to be worth US$500 million, and the 136-meter Flying Fox , featuring two helipads and the first cryosauna ever installed on a yacht.
The annual Dubai International Boat Show, which has been pivotal in shaping the emirate’s maritime ambitions for the last 30 years, continues to showcase the finest fleet of superyachts, attracting fans, manufacturers and industry experts from around the globe. This year, the show recorded a 30% jump in visiting superyachts and significant high-value sales, cementing its position as a global yachting hub.
With its strategic location, world-class yachting infrastructure and seamless entry procedures, as well as comprehensive commercial and private aviation connectivity, Dubai is rapidly gaining popularity as an ideal yachting destination for the luxury traveler.
Rich Maritime Heritage
The U.A.E.’s maritime heritage dates back thousands of years, long before the discovery of oil. From pearling and fishing to shipbuilding and trading, the maritime industry served as a lifeline for the community and contributed significantly to the local economy. From a small trading port, Dubai has transformed into a global city with top-notch infrastructure, a vibrant economy and a high standard of living. In fact, the “Pearl of the Gulf” emerged as the leading city in the Middle East in the Global Power City Index 2023, securing a place in the top 10, along the likes of London, New York, Tokyo, Paris, Singapore, Amsterdam and Seoul.
The traditional dhow offers tourists a glimpse of Dubai's rich maritime history.
Today, while traditional dhows (wooden sailing boats) still ply the Dubai Creek, offering tourists a glimpse of Dubai’s rich maritime history, a growing number of superyachts are docking at Dubai’s luxury marinas, positioning the emirate as a premier yacht tourism destination.
Yachting Crucial To Tourism Economy
Under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the U.A.E. and Ruler of Dubai, the emirate has unveiled a comprehensive 10-year economic framework, referred to as D33, which aims to double its economy by 2033 and secure its position as one of the top three global cities for business and leisure, and the best city to visit, live and work in.
The tourism sector plays a crucial role in this economic expansion. In 2023, Dubai welcomed a record 17.5 million international visitors, representing a 19.4% increase from 2022. This growth trend has persisted into 2024, with 9.31 million visitors recorded from January to June, up 9% from the same period in 2023. Dubai has bagged several accolades along the way, including the No. 1 global destination ranking in Tripadvisor’s Travelers’ Choice Awards 2024 for the third consecutive year, making it the only city to achieve this milestone.
All this bodes well for the yachting industry, a key pillar of Dubai’s tourism economy and central to the diversification of the tourism sector. “Yachting contributes to Dubai’s economic growth not only via direct expenditure from docking vessels, but also through attracting new audiences to the city, including investors and high net worth individuals,” says Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, part of Dubai Department of Economy and Tourism.
The yachting industry is central to the diversification of the tourism sector, contributing to Dubai’s economic expansion.
The yachting industry in the U.A.E. continues to enjoy remarkable growth. From October 2023 to June 2024, 64 yachts over 28 meters visited the U.A.E., the highest number ever recorded, showing a 12% increase over the previous season, according to the U.A.E Yachting Market Insights 2024 published by IR Yachts. The report also found that larger yachts are visiting the U.A.E.
To support the growth of the industry, the government has continued to invest significantly in developing its maritime infrastructure. For example, a road infrastructure project to improve access to Dubai Harbour is in the works. This AED431 million (US$117 million) project will see the construction of a two-lane bridge spanning 1.5 kilometers, extending from Sheikh Zayed Road to Dubai Harbour. When completed, it will improve the flow of traffic and reduce travel time from 12 minutes to three.
World-Class Infrastructure And Services
Dubai’s world-class maritime infrastructure, including 5,000 berths across 22 marinas, supports a thriving yachting ecosystem, and significant investment has led to the development of luxury services such as waterfront entertainment and state-of-the-art maintenance and repair facilities, ensuring a seamless experience for yachting enthusiasts. Popular marinas include Mina Rashid Marina , Dubai Harbour Marinas , Bulgari Marina and Nakheel Marinas . Well-placed fueling stations are available across the city’s marinas, allowing for convenient refueling for longer voyages. All this is complemented by the city’s abundance of attractions, cosmopolitan atmosphere, diverse gastronomy, privacy and unique lifestyle experiences. Additionally, yacht owners have greater peace of mind knowing that they can safely navigate around Dubai and the Gulf region, as the U.A.E was named the second safest country in the world in 2023 with a safety index of 84.9.
“The outlook for Dubai’s yachting industry is increasingly optimistic, and significant investments are being made to enhance maritime infrastructure and facilities, in addition to streamlining industry regulations,” says Kazim.
Key developments include the expansion of Nakheel Marinas Dubai Islands, which will accommodate 13 superyachts and house 248 wet berths for vessels up to 47 meters and 40 dry berths for trailers up to 20 meters. Mina Rashid will be transformed into a luxurious waterfront residential community , and anchorage points will be expanded across the emirate.
He adds: “Partnerships and collaborations between key stakeholders, a seamless arrival experience for foreign-flagged vessels, and visa options to simplify entry procedures are being prioritized to appeal to yacht owners from a diverse range of markets. Dubai is also positioning itself as a leading hub for the superyacht industry, with a focus on attracting key international players to establish offices, branches and manufacturing facilities here, further boosting our local economy.”
![the superyacht group Dubai Tourism Contributor](https://specials-images.forbesimg.com/imageserve/66d08fd9bb54eae654993b70/400x0.jpg?cropX1=0&cropX2=1080&cropY1=0&cropY2=1080)
- Editorial Standards
- Reprints & Permissions
We'd like to hear from you
+44 (0)207 924 4004 [email protected]
+44 (0)207 924 4004 [email protected]
* Mandatory fields
- 3-7 Northcote Rd, Clapham, London SW11 1NG
- 020 7924 4004
- [email protected]
- thesuperyachtgroup
- SuperyachtNews.TSG
- The Superyacht Group
© The Superyacht Group Limited 2024
Privacy Policy | Terms and Conditions
Billionaire ex-Tottenham owner's massive superyacht labelled an 'eyesore' by Dartmouth residents
The colossal 322ft Aviva, owned by former Spurs owner Joe Lewis, has been anchored in the picturesque town since early August
- 08:39, 2 SEP 2024
![the superyacht group The Aviva has been moored in Dartmouth since the beginning of August](https://i2-prod.plymouthherald.co.uk/incoming/article9524327.ece/ALTERNATES/s615/1_SB_Devon_superyachts_8-08-24.jpg)
Get the pick of the week's best stories and fascinating features direct to your inbox every Saturday and Sunday morning in our exclusive Weekender newsletter
We have more newsletters
Locals have branded a superyacht owned by billionaire former Spurs owner Joe Lewis an "absolute eyesore" after it moored in their Devon town a month ago.
The massive £250 million, 322ft Aviva, which serves as the magnate's floating home and office complete with a full-size padel tennis court, has been anchored off Dartmouth since early August. The vessel embarked from Troon, Scotland, docking around August 5.
It was one of its few UK appearances since being detained by US courts for over a year while Mr Lewis was embroiled in "brazen" insider trading allegations. The 87-year-old avoided prison time, due to poor health, but was handed a £3.8million fine and a three-year probation period, the Express reports.
- Plans for new 8,000-home Devon town to go on show
- Sports pitch moved to make way for major Devon relief road
Yet, the yacht's prolonged presence has irked some Dartmouth locals, with Michael Rowland condemning the yacht as "an absolute eyesore" and Geraldine Wood criticising it as "totally out of place in beautiful Dartmouth".
A local told The Sun : "I love this town and I wouldn't want to do it down but why does a billionaire want to stay here for the whole of August instead of the Caribbean or the Med? It's been raining constantly for the last few weeks. I guess he's here for the regatta that starts this week but who knows how long he'll stay.
"It's just a huge floating gin palace, miles bigger than anything else in the harbour. We've seen his crew come and go in a tender but I don't know if he's even onboard - nobody's heard anything."
The Aviva was built in 2017 and can sleep 16 people, with a top speed of 20 knots and an environmentally friendly hybrid electric propulsion system. Last month, t he vessel was spotted alongside two other superyachts, the Elysian and the Constance , on the river Dart.
- Most Recent
![the superyacht group](https://i2-prod.devonlive.com/news/uk-world-news/article9268444.ece/ALTERNATES/s615/0_nw_dcm_200223reader_01.jpg)
Sailing yachts like Mike Lynch's are 'unsinkable bodies', CEO of boat manufacturing firm says
Bayesian superyacht which sank off Italy is an "unsinkable" vessel, Giovanni Costantino, CEO of The Italian Sea Group, said.
By Ashna Hurynag, news correspondent and Eleonora Chiarella, producer
Sunday 25 August 2024 08:48, UK
![the superyacht group Pic:Danny Wheelz](https://e3.365dm.com/24/08/768x432/skynews-bayesian-yacht-italy_6660956.jpg?20240819150204)
Vessels like Mike Lynch's stricken superyacht are "unsinkable", according to the chief executive of the firm which makes and sells them.
Giovanni Costantino, CEO of The Italian Sea Group, told Sky News there are no flaws with the design and construction of the Bayesian superyacht which capsized in a storm off the coast of Porticello, Sicily, on Monday.
Five bodies were found by divers on Wednesday - taking the number of confirmed dead to six.
The Italian Sea Group also owns the firm that built British tech tycoon Mr Lynch's Bayesian, and Mr Costantino said the vessels "are the safest in the most absolute sense".
![the superyacht group News of the sinking left CEO of The Italian Sea Group Giovanni Costantino in ‘sadness on the one hand and disbelief on the other’.](https://e3.365dm.com/24/08/768x432/sky-yacht-perini-sicily_6662672.jpg?20240822185451)
"Being the manufacturer of Perini [boats], I know very well how the boats have always been designed and built," he said.
"And as Perini is a sailing ship... sailing ships are renowned to be the safest ever."
He said their structure and keel made them "unsinkable bodies".
Read more on this story: Why search of superyacht wreck has been so difficult Hero mum 'slept with baby on deck when storm sank yacht'
Be the first to get Breaking News
Install the Sky News app for free
![the superyacht group the superyacht group](https://news.sky.com/assets/ui-graphics/ui-app-promo-apple-app-store.png)
Mr Costantino said news of the sinking "put me in a state of sadness on one side and of disbelief on the other".
"This incident sounds like an unbelievable story, both technically and as a fact," he said.
It is understood Italian prosecutors investigating the incident are continuing to hold interviews with the survivors.
![the superyacht group Pic:Perini Navi/The Italian Sea Group](https://e3.365dm.com/24/08/768x432/skynews-bayesian-yacht-perini-navi_6661595.jpg?20240820133736)
On Tuesday they questioned the captain for more than two hours to help reconstruct what happened and provide useful technical details.
Four British inspectors are also in Porticello and have begun a preliminary assessment of events.
It is understood they will look at all relevant aspects of the incident, including the design, stability, and operation of the vessel. They will also examine the effects of the weather conditions experienced.
![the superyacht group Follow Sky News on WhatsApp](https://e3.365dm.com/24/03/512x512/skynews-gfxwhatsapppromo-gfxwhatsapp_6490206.png)
Keep up with all the latest news from the UK and around the world by following Sky News
Twenty-two people were on board the vessel, 15 of whom were rescued - including Briton Charlotte Golunski and her one-year-old daughter Sofia.
Divers will resume efforts on Thursday morning to bring ashore a body they found earlier. One more person remains missing.
Related Topics
- Superyacht sinking
- MyNewMarkets.com
- Claims Journal
- Insurance Journal TV
- Academy of Insurance
- Carrier Management
![the superyacht group Insurance Journal - Property Casualty Industry News](https://www.insurancejournal.com/img/insurance-journal-logo-680.png)
Featured Stories
- US P/C Industry Posts H1 Underwriting Profit
- Georgia Court Says Lyft Can Sue State Farm
Current Magazine
![the superyacht group current magazine](https://d6zxf491dr98g.cloudfront.net/img/magazines/120/ije_20240902.png)
- Read Online
Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say
![the superyacht group](https://www.insurancejournal.com/app/uploads/2024/08/italian-divers-recover-body-of-victim-of-sunken-vessel-bayesian-AP-580x387.jpg)
Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.
The British-flagged 56-meter-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.
The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Cos. Inc., Navium Marine, and Convex, Reuters reported last week.
Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say
Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.
The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.
“Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.
The P&I policy would likely be “several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.
Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.
Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.
P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.
Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.
The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.
Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.
As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.
As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.
Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.
Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events.
“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”
(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)
Photograph: Italian Firefighters scuba divers bring ashore in a blue bag the body of one of the victims of the UK flag vessel Bayesian, on Wednesday, Aug. 21, 2024. (AP Photo/Salvatore Cavalli)
Topics Carriers
Was this article valuable?
Thank you! Please tell us what we can do to improve this article.
Thank you! % of people found this article valuable. Please tell us what you liked about it.
Here are more articles you may enjoy.
![the superyacht group](https://www.insurancejournal.com/app/uploads/2024/08/audit-pic-150x150.jpeg)
Written By Noor Zainab Hussain
Written by carolyn cohn, interested in carriers .
Get automatic alerts for this topic.
- Categories: International & Reinsurance News Topics: British Marine , Convex Group Ltd. , marine insurance , marine liability insurance , Navium Marine , NSI Insurance Group , OMAC , protection and indemnity (P&I) , superyacht insurance , The Travelers Cos. , yacht insurance
- Have a hot lead? Email us at [email protected]
![](http://gu.isilkul.online/777/templates/cheerup/res/banner1.jpg)
Insurance Jobs
- Personal Lines Account Manager – Insurance – REMOTE - Remote
- Insurance Agency Manager & Agent - Wisconsin - Whitehall or River Falls
- Healthcare Financial/Actuarial Associate - Philadelphia, PA
- Field Auto Adjuster – Antioch, CA - Antioch, CA
- Auto II Claim Representative - Rancho Cordova, CA
![the superyacht group MyNewMarkets](https://www.insurancejournal.com/img/blocks/mynewmarkets-logo-220x38.png)
- Youth Sports Liability Market in 'Armageddon Mode'
- Condos: A Difficult Market to Navigate
- Inflation, the Economy and Workers’ Comp: A Positive Outlook
- Umbrella Liability: The Triple Upsell Possibility for Personal Lines Clients
- Where the AI Risks Are: Swiss Re's Top 10 Ranking by Industry
![the superyacht group Claims Journal](https://www.insurancejournal.com/img/blocks/claimsjournal-logo-220x38.png)
- Sedgwick: U.S. Product Recalls Dropped in Q2 in 5 Key Industries
- Western States Top Wildfire Risk Scores in New Analysis
- Climate Change Intensified Typhoon Shanshan, Study Says
- Court Rules Lyft is a Motor Carrier and State Farm Can Be Sued Directly
- Main Street America Insurance Exits Personal Lines
![the superyacht group Academy of Insurance education](https://www.insurancejournal.com/img/blocks/ijacademy-logo-220x38.png)
- August 22 HO-14: More Than a Mature HO-4
Sunk superyacht likely to cost insurers at least $150-million, experts say
Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least US$150-million, according to the first estimates by industry experts.
The British-flagged, 56-metre-long yacht, which the experts estimated cost around US$40-million, capsized and went down on Aug. 19 within minutes of being hit by a predawn storm while anchored off northern Sicily.
The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.
Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.
The hull was likely insured for around US$40-million, while the P&I cover would be larger, insurance sources said.
“Our understanding is that the cost of the boat was between US$40 and US$50-million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.
The P&I policy would likely be “several multiples” of the hull policy, or US$200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.
Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.
Oscar Seikaly, chief executive officer of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at US$40-70 million, but said P&I cover might not total more than US$100-million.
P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at US$30-million to US$40-million.
Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.
The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.
Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Mr. Seikaly said.
As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.
As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.
Mr. Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.
Climate change was also likely to add to yacht insurers’ worries, Mr. Seikaly added, as it throws up more unexpected events.
“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”
Report an editorial error
Report a technical issue
Follow related authors and topics
- Climate Change
Authors and topics you follow will be added to your personal news feed in Following .
Interact with The Globe
![the superyacht group Read the Latest on Page Six](https://nypost.com/wp-content/uploads/sites/2/2023/02/button_3_bg-2.png?w=206)
trending now in World News
![the superyacht group Daughter storms out of father’s rape trial in tears after court hears he had nude photos of her](https://nypost.com/wp-content/uploads/sites/2/2024/09/brother-florian-p-arrives-courthouse-88850869.jpg?quality=75&strip=all&w=87)
Daughter storms out of father’s rape trial in tears after court...
![the superyacht group Circus bear attacks trainer during performance in front of hundreds of terrified children, parents](https://nypost.com/wp-content/uploads/sites/2/2024/09/scary-moment-female-bear-attacks-88845165.jpg?quality=75&strip=all&w=87)
Circus bear attacks trainer during performance in front of...
![the superyacht group Ukraine uses flame thrower drone to burn Russians out of tree line: video](https://nypost.com/wp-content/uploads/sites/2/2024/09/ukraine-using-flamethrower-drones-filed-88838740.jpg?quality=75&strip=all&w=87)
Ukraine uses flame thrower drone to burn Russians out of tree...
![the superyacht group Russian missile strike kills 47 people, wounds more than 200 in one of the deadliest assaults on Ukraine since war began](https://nypost.com/wp-content/uploads/sites/2/2024/09/poltava-massacre-ukraine-scores-dead-russia-comp.jpg?quality=75&strip=all&w=87)
Russian missile strike kills 47 people, wounds more than 200 in...
![the superyacht group Hamas cruelly taunts slain hostages' kin with haunting video of captives before death, promises 'last messages'](https://nypost.com/wp-content/uploads/sites/2/2024/09/newspress-collage-tifzp1y56-1725298503788.jpg?quality=75&strip=all&1725284183&w=87)
Hamas cruelly taunts slain hostages' kin with haunting video of...
![the superyacht group Satellite video shows final minutes of the Bayesian superyacht as it is dramatically blown by storm and disappears from radar](https://nypost.com/wp-content/uploads/sites/2/2024/09/Bayesian.jpg?quality=75&strip=all&w=87)
Satellite video shows final minutes of the Bayesian superyacht as...
![the superyacht group French woman allegedly drugged by husband, raped by dozens of strangers appears at his trial](https://nypost.com/wp-content/uploads/sites/2/2024/09/wonan-arrives-courthouse-trial-man-88797319.jpg?quality=75&strip=all&w=87)
French woman allegedly drugged by husband, raped by dozens of...
![the superyacht group Two US servicemen violently attacked in Turkey by anti-American protesters in shocking video: 'Yankee, go home!'](https://nypost.com/wp-content/uploads/sites/2/2024/09/88805780.jpg?quality=75&strip=all&w=87)
Two US servicemen violently attacked in Turkey by anti-American...
Breaking news, satellite video shows final minutes of the bayesian superyacht as it is dramatically blown by storm and disappears from radar.
The frightening final minutes of the doomed Bayesian yacht have been revealed in a new video, showing it being hit by a sudden storm then disappearing entirely from radar as it sank.
Satellite imaging video obtained by The Post from the early morning of August 19 shows the moments the $40m superyacht – which had 22 people aboard, seven of whom drowned in the tragedy – is dramatically blown off course by a freak storm off the coast of Porticello in Sicily, Italy.
The yacht is seen blown in a roughly South Eastern direction between 1:56am to 2:09am UTC, the equivalent of 3:56am to 4:09am in the local time. One other vessel, the Sir Robert Baden Powell, is in the same area and also gets flung across the sea.
The 185-foot Bayesian is spun anti-clockwise by more than 180 degrees from its starting point and moves around 300 meters (985 feet). The boat then stays in place as it sank, with its radar signal ominously disappearing at 3:09am UTC, or 5:09am local time, the video from Marinetraffic.com shows.
![the superyacht group a grab from the satellite video showing the Bayesian's path before it sunk](https://nypost.com/wp-content/uploads/sites/2/2024/09/bayesian-yacht-sinking-satelite-fabrizio-88856471.jpg?w=1024)
Describing the scene to Italian authorities, sailor Matthew Griffiths, who was on watch at the time of the sinking, said he “woke the captain up when the wind was blowing at 20 knots [and] he ordered to wake everyone else up,” according to Italian news service ANSA .
Griffiths also told investigators the ship “tilted and we fell into the water … We were then able to climb back on and we tried to rescue those we could.
“[The] boat was tilted and we were walking on the walls. We rescued those we could,” ANSA reported Griffiths saying.
![the superyacht group Bayeisan Captain James Cutfield in a wet suit](https://nypost.com/wp-content/uploads/sites/2/2024/09/bayesian-captain-new-zealand-citizen-88370236.jpg?w=889)
A life raft was launched which carried 15 survivors from the yacht, nine members of staff and six guests, including a one-year-old baby. It was met by a smaller boat sent from the Sir Robert Baden Powell to aid in the rescue.
The Bayesian’s owner, British tech tycoon Mike Lynch, was trapped in a cabin as the ship rapidly sank and died. His daughter, Hannah, 18, also died in the accident, as well as five others: New York City lawyer Chris Morvillo and his wife Neda; Morgan Stanley Bank International chair Jonathan Bloomer and his wife, Judy; and the ship’s chef, Recaldo Thomas.
The exact cause of the sinking is not yet known and still under investigation by authorities. It has been suggested that a tornado-like waterspout, known as a “black swan” weather event, could have hit the vessel during the storm, giving the staff little time to react.
Others have suggested windows, portholes or other openings may have been broken or smashed open by the powerful waterspout, causing the yacht to sink so rapidly.
Officials are also looking into whether a downburst could have hit the yacht. Downbursts are a different type of weather event caused by powerful winds being projected downwards from a storm, which can be highly destructive, according to the BBC .
![the superyacht group Mike Lynch and daughter Hannah, in a picture taken of them on a street together](https://nypost.com/wp-content/uploads/sites/2/2024/09/picture-hannah-father-mike-lynch-88185264.jpg?w=820)
Three of the ship’s crew — Griffiths, ship engineer Tim Parker Eaton and captain James Cutfield — are currently under investigation over the wreck as authorities try and piece together what caused the ship to sink so rapidly.
However, Italian authorities have made clear being part of the investigation does not imply wrongdoing and is a required procedural step.
Lynch’s wife, Angela Bacares, survived the ordeal but has yet to speak publicly about the ordeal.
The Captain of the Sir Robert Baden Powell has also given his version of events at the time of the sinking, saying he noticed the weather deteriorating at 3am.
“When things calmed down and the storm abated somewhat … we were looking around and couldn’t see the Bayesian anymore,” captain Karsten Borner told People magazine.
![the superyacht group Rescue crews in boats off the port of Porticello in Sicily](https://nypost.com/wp-content/uploads/sites/2/2024/09/sicily-british-entrepreneur-mike-lynch-88179843.jpg?w=1024)
“Two passengers and two crew members saw what looked like a whale in the water and realized afterwards it was the capsized boat.
“A moment later, I saw a triangle in the sea in a split second that the sky was lit up by lightning, and that must have been the bow of the ship while sinking over the stern.”
Borner and his first mate then took the smaller boat in an attempt to help survivors.
“We first found things floating in the water like cushions and chairs and stuff. And then we saw a flickering light. This was a life raft with a light on the top. And they also waved at us with a torch.”
“So we went there, and then we found the crew and part of the passengers,” he added.
A salvage mission to raise the Bayesian from the sea bed and bring it to port in Sicily so it can be examined to find out more about its sinking is currently underway.
![the superyacht group a grab from the satellite video showing the Bayesian's path before it sunk](https://nypost.com/wp-content/uploads/sites/2/2024/09/bayesian-yacht-sinking-satelite-fabrizio-88856471.jpg?quality=75&strip=all&w=1024)
Advertisement
Hewlett Packard Enterprise confirms it will continue its $4 billion suit against Mike Lynch's estate after he died in a tragic yacht sinking
- HPE says it will continue to pursue its $4 billion lawsuit against Mike Lynch's estate.
- Lynch, along with his daughter and top attorney, died when his superyacht sank in August.
- Lynch and the company had been involved in a nine-year legal battle over the sale of Autonomy.
![the superyacht group Insider Today](https://www.businessinsider.com/public/assets/BI/US/logos/newsletters/insider-today-logo.png)
Hewlett Packard Enterprise said Monday that it wouldn't drop its lawsuit against the late tech tycoon Mike Lynch 's estate.
The news came two weeks after Lynch died in a tragic yacht sinking off the coast of Sicily. Lynch, along with seven others, including his daughter and his top attorney , drowned when his superyacht, Bayesian, sank.
Before his death, Lynch had been embroiled in a long legal battle with the company. Hewlett-Packard bought his software company, Autonomy, in 2011 and later accused Lynch of valuing it inaccurately. Hewlett-Packard broke into two companies — Hewlett Packard Enterprise and HP — in 2015.
An HPE spokesperson said Monday that the company would continue to pursue the lawsuit, which seeks $4 billion in damages.
Lynch's wife, Angela Bacares, who survived the yacht tragedy, is expected to inherit her husband's fight, Fortune reported .
"In 2022, an English High Court judge ruled that HPE had substantially succeeded in its civil fraud claims against Dr Lynch and Mr Hussain," the spokesperson said Monday in a statement to The Associated Press .
Related stories
"A damages hearing was held in February 2024 and the judge's decision regarding damages due to HPE will arrive in due course," they added. "It is HPE's intention to follow the proceedings through to their conclusion."
The Monday statement came after the group initially sent a statement to several media outlets declining to comment on legal matters in light of the tragedy.
"We do not think it appropriate to comment on legal matters in these tragic circumstances," a spokesperson previously said, per Fortune . "We're saddened by this tragic event and our thoughts are with the families and friends of all the victims."
The yacht sank just weeks after Lynch and Stephen Chamberlain, his former vice president of finance, were acquitted by a San Francisco jury in June of all criminal charges related to Autonomy's sale.
The indictment accused Lynch and Chamberlain of falsifying financial documents, lying to auditors and regulators, and suppressing people who criticized Autonomy's financial practices.
A representative of HPE did not immediately respond to a request for comment from Business Insider sent outside regular business hours.
Correction: September 3, 2024 — An earlier version of this story misstated when Lynch and Chamberlain were acquitted of criminal charges. They were acquitted weeks before the yacht sank, not weeks after. An earlier version also misstated the timeline of the lawsuit. It has been in process for nine years, not 13. The story has also been updated to clarify that Hewlett Packard Enterprise is pursuing the lawsuit against Lynch's estate. HPE broke off from Hewlett-Packard in 2015.
- Main content
![the superyacht group NBC 6 South Florida](https://media.nbcmiami.com/2024/08/WTVJ_station_logo_dark_b73a7e.png?fit=277%2C58&quality=85&strip=all&w=191&h=40)
Divers find 5 bodies during search of superyacht wreckage after it sank off Sicily, 1 still missing
The bayesian, a 56-meter (184-foot) british-flagged yacht, went down in a storm early monday, by nicole winfield, danica kirka and andrea rosa | the associated press • published august 21, 2024 • updated on august 21, 2024 at 4:18 pm.
Divers searching the wreck of a superyacht that sank off Sicily found the bodies of five passengers Wednesday and searched for one more as questions intensified about why the vessel sank so quickly when a nearby sailboat remained largely unscathed.
Rescue crews brought four body bags ashore into port at Porticello. Salvatore Cocina, head of the Sicily civil protection agency, said a fifth body had been located. Divers at the scene said they would try to recover it on Thursday while continuing the search for the sixth.
📺 24/7 South Florida news stream: Watch NBC6 free wherever you are
![the superyacht group](https://media.nbcmiami.com/2024/08/Italian-Boaters-Missing.png)
Video shows moments before superyacht went down in storm off Sicily
![the superyacht group](https://media.nbcmiami.com/2024/08/image-25-3.png)
Missing revealed as divers search superyacht that sank in storm off Sicily
The discovery made clear the operation to search the hull on the seabed 50 meters (164 feet) underwater had quickly turned into a recovery one, not a rescue, given the amount of time that had passed and with no signs of life emerging over three days of searching.
The Hurricane season is on. Our meteorologists are ready. Sign up for the NBC 6 Weather newsletter to get the latest forecast in your inbox.
The Bayesian, a 56-meter (184-foot) British-flagged yacht, went down in a storm early Monday as it was moored about a kilometer (a half-mile) offshore. Civil protection officials said they believed the ship was struck by a tornado over the water, known as a waterspout, and sank quickly.
Fifteen people escaped in a lifeboat and were rescued by a nearby sailboat. One body was recovered Monday — that of the ship’s chef, Recaldo Thomas, of Antigua.
Thomas was born in Canada, according to his cousin David Isaac, but would visit his parents’ homeland of Antigua as a child, moving permanently to the tiny eastern Caribbean island in his early 20s. Italian officials previously listed Antigua and Canada as the nationality of people on board.
The fate of six missing passengers had driven the search effort, including British tech magnate Mike Lynch, his 18-year-old daughter and associates who had successfully defended him in a recent U.S. federal fraud trial.
Lynch’s spokesperson did not respond to a request for comment Wednesday.
Meanwhile, investigators from the Termini Imerese Public Prosecutor’s Office were acquiring evidence for their criminal investigation, which they opened immediately after the tragedy even though no formal suspects have been publicly identified.
Questions have abounded about what caused the superyacht, built in 2008 by Italian shipyard Perini Navi, to sink so quickly, when the nearby Sir Robert Baden Powell sailboat was largely spared and managed to rescue the survivors.
Giovanni Costantino, head of The Italian Sea Group, which owns the shipmaker, blamed human error for the disaster, which he said took 16 minutes. “The ship sank because it took on water. From where, the investigators will say,” he told RAI state television after he met with prosecutors.
Costantino cited AIS ship tracking data which he said showed the Bayesian had taken on water for four minutes when a sudden gust of wind flipped it and it continued taking on water. The ship straightened up slightly and then went down, he said.
But was it merely the case of a freak waterspout that knocked the ship to its side and allowed water to pour in through open hatches? What was the position of the keel, which on a large sailboat like the Bayesian might have been retractable, to allow it to enter shallower ports?
“There’s a lot of uncertainty as to whether it had a lifting keel and whether it might have been up,” said Jean-Baptiste Souppez, a fellow of the Royal Institute of Naval Architects and the editor of the Journal of Sailing Technology. “But if it had, then that would reduce the amount of stability that the vessel had, and therefore made it easier for it to roll over on its side,” he said in an interview.
The captain of the sailboat that came to the Bayesian’s rescue said his craft had sustained minimal damage — the frame of a sun awning broke — even with winds that he estimated reached 12 on the Beaufort wind scale, which is the highest hurricane-strength force on the scale.
He said he had remained anchored with his engines running to try to maintain the ship’s position as the storm, which was forecast, rolled in.
“Another possibility is to heave anchor before the storm and to run downwind at open sea,” Karsten Bornersaid in a text message. But he said that might not have been a viable option for the Bayesian, given its trademark 75-meter (246-foot) tall mast.
“If there was a stability problem, caused by the extremely tall mast, it would not have been better at open sea,” he said.
Yachts like the Bayesian are required to have watertight, sub-compartments that are specifically designed to prevent a rapid, catastrophic sinking even when some parts fill with water.
“So for the vessel to sink, especially this fast, you are really looking at taking water on board very quickly, but also in a number of locations along the length of the vessel, which again indicates that it might have been rolled over on its side,” Souppez said.
Italian coast guard and fire rescue divers continued the underwater search in dangerous and time-consuming conditions. Because of the wreck’s depth, which requires special precautions, divers working in tag teams could only spend about 12 minutes at a time searching, though reinforcements outfitted with special equipment to enable longer dives were also on the wreck Wednesday.
In all, some 27 divers were taking rotations, including four who helped with the recovery of the 2012 Costa Concordia disaster off Tuscany. They called the Porticello wreck a “little Concordia,” fire crews said in a statement, which for the first time Wednesday referred to the operation as a “recovery.”
The limited dive time was designed in part to avoid decompression sickness, also known as the “bends,” which can occur when divers stay underwater for long periods and ascend too quickly, allowing nitrogen gas dissolved in the blood to form bubbles.
“The longer you stay, the slower your ascent has to be,” said Simon Rogerson, the editor of SCUBA magazine. He said the tight turnaround time suggested the operation's managers were trying to limit the risks and recovery time after each dive.
“It sounds like they’re operating essentially on no decompression or very tight decompression, or they’re being extremely conservative,” he said.
Additionally, the divers were working in extremely tight spaces, with debris floating around them, limited visibility and air tanks on their backs.
“We are trying to advance in tight spaces, but any single thing slows us down,” said Luca Cari, spokesman for the fire rescue service. “An electric panel could set us back for five hours. These aren’t normal conditions. We’re at the limit of possibility.”
“It’s not a question of entering the cabin to inspect it,” he added. “They’ve arrived at the level of the cabins, but it’s not like you can open the door.”
This article tagged under:
![the superyacht group SuperyachtNews](https://www.superyachtnews.com/img/superyachtnewslogo.png)
Premium Yachts
Brokerage & Charter Yacht Management
Russian Federation
Brokerage & charter , yacht management, www.premiumyachts.ru.
Premium Yachts is an exclusive distributor of Ferretti Group (Ferretti, Mochi Craft, Custom Line, Pershing, Riva, Itama, Bertram and CRN) in Russian Federation.
- Moscow Russian Federation
![the superyacht group the superyacht group](https://www.superyachtnews.com/img/user-default.png)
Alexey Gorsky | |
News summary
Sign up to the superyachtnews bulletin.
Receive unrivalled market intelligence, weekly headlines and the most relevant and insightful journalism directly to your inbox.
The SuperyachtNews App
![the superyacht group the superyacht group](https://www.superyachtnews.com/img/apple-appstore.png)
Follow us on
Media Pack Request
Please select exactly what you would like to receive from us by ticking the boxes below:
Membership Login
To view our digital library and complete intelligence data, please login below Alternatively please join here
SuperyachtNews.com
![](http://gu.isilkul.online/777/templates/cheerup/res/banner1.jpg)
IMAGES
VIDEO
COMMENTS
The Superyacht Report is the definitive 'Report Worth Reading', a single flagship magazine that provides unrivalled market insight and intelligence to our industry's key stakeholders. The Superyacht Report is published 4 times a year, providing decision-makers and influencers with the most relevant, insightful and respected journalism and ...
The Superyacht Group GBR is dedicated to positioning the Great Barrier Reef as a premier Superyacht destination, spanning from Gladstone, the Whitsundays and Cairns to the Torres Straits. As a not-for-profit, we work closely with our members and stakeholders to actively promote this unique region for cruising touring, refit & maintenance, crew ...
The Superyacht Group Great Barrier Reef is a non-profit industry consortium promoting the Great Barrier Reef from Gladstone, the Whitsundays and Cairns to the Torres Strait as a premier superyacht destination for cruising, touring, refit, maintenance, training, and charter. The Superyacht Group Great Barrier Reef's aim is to provide ...
The Superyacht Group. After 28 years leading the market with brilliant journalism, respected conferences and valuable intelligence, we are looking to 2020 and beyond as the start of a new decade and a new era for The Superyacht Group. Our sector-leading portfolio has allowed us to build the most valuable network of advisors, buyers and ...
Welcome to The Superyacht Group Library. Access to our complete digital library of The Superyacht Report, and to The Annual and Crew Reports is included in our Essential Membership. Join the Superyacht Group community to access SuperyachtIntel, high-impact journalism, business critical information, and our industry leading network of live and virtual events.
Established in 1992, The Superyacht Group is widely recognised as the global leader in delivering business-critical information, journalism and live events for the superyacht market. Our suite of ...
Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry's most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we ...
Established in 1992, The Superyacht Group is widely recognised as the global leader in delivering business-critical information, journalism and event programming for the superyacht market. Our suite of complementary services, encompassing editorial, events and business consultancy, has helped the industry's leading stakeholders map strategies ...
The Superyacht Directory is the world's largest database of private luxury yachts, with over 12,000 megayachts listed. It's the most authoritative place to find everything you need to know about superyachts - including new builds, historic vessels and the most famous boats of all time. You can filter your Superyacht Directory search ...
Drawing on the unparalleled depth of knowledge and experience within The Superyacht Group, The Superyacht Agency's team of brilliant creatives, analysts, event planners, digital experts and marketing consultants combine four cornerstones - Intelligence, Strategy, Creative and Events - to deliver the most effective campaigns and strategies.
The Superyacht Group (@thesuperyachtgroup) • Instagram photos and videos. 29K Followers, 707 Following, 1,200 Posts - The Superyacht Group (@thesuperyachtgroup) on Instagram: "We are the trusted platform for real insights, intelligence and opinions delivered to the superyacht market."
Hailing from the industrial landscapes of Russia, Alexander Svetakov has made a name for himself as a seasoned entrepreneur and the founder of the illustrious Absolut Investment Group. Born in 1968, Svetakov, married to Yulia Svetakova, shares his life with their three children, Anna and Ivan being among them.
Dubai's marinas have hosted some of the world's most impressive superyachts, owned by tycoons, royal families and celebrities. Notable superyachts spotted in U.A.E. waters over the past season ...
General Opt-Out - Click here should you no longer wish to receive ANY digital communications from The Superyacht Group. Submit * Mandatory fields. Explore. About; Shop; Advertise; Contact; Contact. 3-7 Northcote Rd, Clapham, London SW11 1NG; 020 7924 4004; [email protected]; Social.
Launched in 2009, SuperYacht Fan transitioned from a gallery of yacht imagery to a pivotal resource, culminating in the Super Yacht Owners Register—a meticulously compiled database featuring over 1,500 yacht owners. The allure of luxury yachts and their affluent proprietors has captured global interest, making our compilation a valued asset ...
Billionaire's massive superyacht labelled an 'eyesore' Dartmouth. The colossal 322ft Aviva, owned by former Spurs owner Joe Lewis, has been anchored in the picturesque town since early August.
Superyacht specialists West Nautical continues to grow with the addition of its third brand 'Marine Chandlery' Wavefront Announces Shipment of First Batch of Vigilant FLS® 600 Wavefront, a leader in innovative sonar technology, is thrilled to announce the shipment of the first batch of its highly anticipated Vigilant FLS® 600.
Alexei Mordashov, with a net worth of $30 billion, is the owner of the yacht Nord. Mordashov is the chairman and majority shareholder of Severstal, one of Russia's largest producers of iron ore and steel. Apart from Severstal, Mordashov has investments in various ventures including Tele2 Russia, Power Machines, TUI, and Bank Rossiya.
Vessels like Mike Lynch's stricken superyacht are "unsinkable", according to the chief executive of the firm which makes and sells them. Giovanni Costantino, CEO of The Italian Sea Group, told Sky ...
Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.
Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least US$150-million, according to the first estimates by ...
Welcome to The Superyacht Group Shop - We are committed to providing the market with transparent journalism, trusted analysis and a platform to share ideas that will ultimately drive the industry forward and grow our market. View our membership options below, and by investing in and joining our inclusive community we can work together to ...
Satellite imaging video obtained by The Post from the early morning of August 19 shows the moments the $40m superyacht - which had 22 people aboard, seven of whom drowned in the tragedy - is ...
HPE says it will continue to pursue its $4 billion lawsuit against Mike Lynch's estate. Lynch, along with his daughter and top attorney, died when his superyacht sank in August. Lynch and the ...
The Superyacht Forum: focused on the future. The redesigned superyacht conference in Amsterdam will bring together senior professionals with an agenda aimed at shaping the industry's future. Event.
Divers find 5 bodies during search of superyacht wreckage after it sank off Sicily, 1 still missing The Bayesian, a 56-meter (184-foot) British-flagged yacht, went down in a storm early Monday
The Superyacht Group Shop. Premium Yachts is an exclusive distributor of Ferretti Group (Ferretti, Mochi Craft, Custom Line, Pershing, Riva, Itama, Bertram and CRN) in Russian Federation.