Italy

Admiral

The 72-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> superyacht <a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Rush72.0m (236'3&quot;)Admiral2025">No Rush</a> sold with <a data-gid="gid://syiq/Company/4680" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Yacht International (Company)">Royal Yacht International</a> introducing the buyer and Michel Chryssicopoulos of <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a> representing the seller and <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/380513/image/large-f2b5bf1bd09e525a0d58a4622e12855f.jpg" data-gid="gid://syiq/Photo/380513">Following her sale, SuperYacht Times takes an exclusive look onboard the <a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Rush72.0m (236'3&quot;)Admiral2025">No Rush</a> to find out more about the <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani</a>-designed superyacht.<img src="https://photo-assets.superyachttimes.com/photo/380536/image/large-e301e074cc7946ca8b4af7e7efb2a708.jpg" data-gid="gid://syiq/Photo/380536">Launched in May 2025 as the first vessel in the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani</a> 72M series, <a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Rush72.0m (236'3&quot;)Admiral2025">No Rush</a> is the first of two superyachts entirely designed by the late Giorgio Armani. Previously known as Project Metamorphosis, she fuses <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani</a>’s signature aesthetic, with advanced naval architecture from <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>.<img src="https://photo-assets.superyachttimes.com/photo/380535/image/large-32bcd28de6a3df55d96e9a9fe7d21e4e.jpg" data-gid="gid://syiq/Photo/380535">The Admiral Armani 72M yacht was first unveiled in February 2023 at a private ceremony at the Marina di Carrara Headquarters, Italy. Presented by Giorgio Armani and the Founder and CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, Giovanni Costantino, the project was shown to over 650 guests including shipowners, brokers, shareholders, authorities, VIPs and the press.Read:&nbsp;<a data-gid="gid://syiq/Article/56925" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="72m Giorgio Armani designed superyacht Admiral 72 unveiled (2023-02-12 12:00:00 +0100)">72m Giorgio Armani designed superyacht Admiral 72 unveiled</a><img src="https://photo-assets.superyachttimes.com/photo/380527/image/large-7f5e8727cfa1cc1860bba83d70933c7c.jpg" data-gid="gid://syiq/Photo/380527">Composed with a full displacement steel hull and an aluminium superstructure, <a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Rush72.0m (236'3&quot;)Admiral2025">No Rush</a> is highly-recognisable with her geometric lines, which have been paired with soft curved and beveled edges.<img src="https://photo-assets.superyachttimes.com/photo/380528/image/large-3fba6840e7201f92250452f1dbd6b385.jpg" data-gid="gid://syiq/Photo/380528">The ice-class yacht benefits from floor-to-ceiling windows which illuminate her interior, which is adorned with materials and rich textiles such as Black Marquinia and golden Calacatta marble, Canaletto walnut, mirrored panels and artisanal lighting.<img src="https://photo-assets.superyachttimes.com/photo/380520/image/large-cd11e6d8038aecbf5056ab6b94e3877a.jpg" data-gid="gid://syiq/Photo/380520">Her open-plan main saloon benefits from sumptuous sofas, which surround a chic coffee table, while a dining area can be found forward. Thanks to her large windows, the whole space benefits from plenty of natural light, which balances well with her light colour palette to create a theme of timeless minimalism.<img src="https://photo-assets.superyachttimes.com/photo/380526/image/large-688a63a22983a0b8053f64e2e14b9cdb.jpg" data-gid="gid://syiq/Photo/380526"><img src="https://photo-assets.superyachttimes.com/photo/380524/image/large-072d1c92a492d5ed2ca30ef71480f245.jpg" data-gid="gid://syiq/Photo/380524">The 1,950 GT superyacht is able to accommodate up to 14 guests across seven staterooms, as well as space for a crew of 20. Her forward-facing master suite is situated at the bow on the 180 square-metre owner’s deck and makes the most of the ocean views, with 180-degree views of the horizon.<img src="https://photo-assets.superyachttimes.com/photo/380525/image/large-12d2a628fdc2f68418a8db9a61657a2f.jpg" data-gid="gid://syiq/Photo/380525"><img src="https://photo-assets.superyachttimes.com/photo/380502/image/large-d2ec8fd3825a87294f0d0215a7a303b7.jpg" data-gid="gid://syiq/Photo/380502">The suite includes a large lounge area positioned at the foot of the bed, with an office space to port and direct access to the bow. Her ensuite bathroom is equipped with a bath tub, while a spacious walk-in wardrobe with soft-closing hidden drawers offers ample storage and a refined level of comfort.<img src="https://photo-assets.superyachttimes.com/photo/380541/image/large-fe310f368b27ae96ebd496e6b33fcf87.jpg" data-gid="gid://syiq/Photo/380541"><img src="https://photo-assets.superyachttimes.com/photo/380543/image/large-284e7b6ceb1e463cced70e054875dc4a.jpg" data-gid="gid://syiq/Photo/380543">Amenities onboard <a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Rush72.0m (236'3&quot;)Admiral2025">No Rush</a> include a large beach club, a pool towards the aft of the main deck and a private spa. Her exterior decks have been designed with entertainment and relaxation in mind, with soft curves forward and geometric shapes at her stern complementing her overall silhouette. <img src="https://photo-assets.superyachttimes.com/photo/380545/image/large-495172309125d1038116fdf50d6e4872.jpg" data-gid="gid://syiq/Photo/380545"><img src="https://photo-assets.superyachttimes.com/photo/380547/image/large-85870dbcf9575727324b918b613402f8.jpg" data-gid="gid://syiq/Photo/380547"><a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="No Rush72.0m (236'3&quot;)Admiral2025">No Rush</a>'s upper decks are designed as floating terraces, with alfresco lounges and a helipad seamlessly integrated into the yacht’s layout. The result is freedom and flexibility for all guests onboard.<img src="https://photo-assets.superyachttimes.com/photo/380548/image/large-35d2665a2b8a56bb1b958c06f1f992b4.jpg" data-gid="gid://syiq/Photo/380548"><img src="https://photo-assets.superyachttimes.com/photo/380546/image/large-0b6c873e8ba7f8f55abeb114dcb8c752.jpg" data-gid="gid://syiq/Photo/380546">In terms of performance, the Giorgio Armani-designed superyacht features a Dynamic Positioning System and also has a range of 6,000 nautical miles.<img src="https://photo-assets.superyachttimes.com/photo/380512/image/large-b966e80864bfd3e39a1730f40c606e9b.jpg" data-gid="gid://syiq/Photo/380512">

No Rush: Admiral Armani yacht sold

The 72-metre Admiral Armani 72M superyacht sold with Royal Yacht International representing the buyer

Onboard newly sold 72m Admiral Armani superyacht No Rush

<a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral Yachts</a>, a brand of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, has launched the first hull of the new 50-metre semi-custom Panorama 50 series motor yacht <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> at its headquarters in Marina di Carrara. &nbsp;Meanwhile, as the exclusive sales and build broker and the owner's representative, <a data-gid="gid://syiq/Company/5144" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Smart Yachts (Company)">Smart Yachts</a> joined the project when only preliminary drawings were available. To ensure full alignment with the client's vision, they reviewed all architectural plans and specifications. Over the three-year development, <a data-gid="gid://syiq/Company/5144" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Smart Yachts (Company)">Smart Yachts</a> served as the primary liaison with <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral Yachts</a>, guiding every key technical and spatial decision. <img src="https://photo-assets.superyachttimes.com/photo/379894/image/large-0dbfbdf3f68e9c98384c48da48f176d2.jpg" data-gid="gid://syiq/Photo/379894">Built in steel with an aluminium superstructure, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> features exterior and interior design penned by <a data-gid="gid://syiq/Company/6288" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Piredda & Partners (Company)">Piredda &amp; Partners</a>, who approached the Panorama 50 with a modern, expressive style aligned with the yacht’s dynamic profile. Meanwhile, her naval architecture was developed in-house by her builder.Inside, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> carries a warm, contemporary aesthetic with tones of sandy beige and honey-coloured woods. Two interior concepts are offered: one by <a data-gid="gid://syiq/Company/6450" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CentrostileDesign (Company)">Admiral Centro Stile</a>, centered on natural materials and clean geometry, and another by <a data-gid="gid://syiq/Company/6288" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Piredda & Partners (Company)">Piredda &amp; Partners</a>, which incorporates sculptural forms, rich textures and bold contrasts.<img src="https://photo-assets.superyachttimes.com/photo/379892/image/large-23f64a456b6e318bbe27383f46c42969.jpg" data-gid="gid://syiq/Photo/379892"><a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> features an innovative layout with seven staterooms, an uncommon offering in this size range. Her owner’s private suite is located on the upper deck, framed by 180-degree windows and a dedicated private terrace forward. Guest staterooms on the main deck provide enhanced comfort and natural light.<img src="https://photo-assets.superyachttimes.com/photo/379893/image/large-24f1cc85df0d0b8932c21ccc5a54ca96.jpg" data-gid="gid://syiq/Photo/379893">The beach area is designed as a wellness-focused retreat, featuring a transparent-walled pool and folding balconies that expand the space into a waterside platform.“With the 50m M/Y Admiral Panorama, a new line is born, poised to grow and strengthen over time,” said Gianmaria Costantino, Chief Commercial Officer of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>. “This yacht combines aesthetic balance, engineering solidity, and contemporary design, where innovation elevates the onboard experience.”<img src="https://photo-assets.superyachttimes.com/photo/379895/image/large-459c1421a1f805bcbf2350a7b7d5f581.jpg" data-gid="gid://syiq/Photo/379895">With an 8.9-metre beam and 499 GT, <a data-gid="gid://syiq/Yacht/12258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Spribe50.0m (164'1&quot;)Admiral2026">Spribe</a> shows a smooth, continuous profile that balances strength and lightness. Large glass surfaces enhance the connection between interior and exterior spaces, defining her clean, contemporary Italian design.<img src="https://photo-assets.superyachttimes.com/photo/379981/image/large-555a142b91851c87023cad7e06cc5fcd.jpg" data-gid="gid://syiq/Photo/379981">Performance-wise, she is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, propelling her to reach a top speed of around 15 knots while maintaining efficiency and comfort.&nbsp;

Admiral Panorama 50 yacht hull launched

Admiral Yachts has launched the first hull of its new semi-custom Panorama 50 line at its Marina di Carrara facility.

50m Admiral Yachts Panorama series motor yacht Spribe launched

superyachts featured in films

SuperYachtTimes takes a closer look at the superyachts that have gifted our screens with an injection of added opulence.

Our favourite star-studded superyachts on film and TV

The 27.01-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> motor yacht <a data-gid="gid://syiq/Yacht/6960" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="It's A Dream 27.01m (88'7&quot;)Admiral1991">It’s A Dream</a> sold in a deal with Eric Trupheme of <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> representing the seller. <img src="https://photo-assets.superyachttimes.com/photo/296596/image/large-7195f89404b1297f73b3b750b9c2dd65.png" data-gid="gid://syiq/Photo/296596">Delivered in 1991 and previously named Heaven, <a data-gid="gid://syiq/Yacht/6960" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="It's A Dream 27.01m (88'7&quot;)Admiral1991">It’s A Dream</a> features interior and exterior design by <a data-gid="gid://syiq/Company/4575" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Paolo Caliari Design (Company)">Paolo Caliari Design</a>. The classic motor yacht can accommodate up to eight guests across her four spacious staterooms, taken care of by a crew of four.Key amenities onboard <a data-gid="gid://syiq/Yacht/6960" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="It's A Dream 27.01m (88'7&quot;)Admiral1991">It’s A Dream</a> include a Jacuzzi and cosy lounge areas across her sundeck, while retractable biminis provide shade for guests onboard. In terms of performance, <a data-gid="gid://syiq/Yacht/6960" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="It's A Dream 27.01m (88'7&quot;)Admiral1991">It’s A Dream</a> is powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, providing her with a top speed of 25 knots and a cruising speed of 20 knots.At the time of her sale <a data-gid="gid://syiq/Yacht/6960" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="It's A Dream 27.01m (88'7&quot;)Admiral1991">It’s A Dream</a> had a last known asking price of €300,000.(Image courtesy of Ocean Independence)

It’s A Dream: 27m Admiral yacht sold

The 27m Admiral motor yacht It’s A Dream sold, with a last known asking price of €300,000.

27m Admiral motor yacht It’s A Dream sold

As the American yachting market gathers fresh momentum, one brokerage firm is quietly shaping its direction. Since its founding in 2021, <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a> has evolved from a boutique Miami outfit into a globally recognised brand with a clear eye on growth and influence. Confident in its long-term vision, the company is investing heavily to strengthen its international reach while reinforcing its position at home in the United States.<img src="https://photo-assets.superyachttimes.com/photo/360492/image/large-5cbedc40718de6c41db53aca5b95310d.jpg" data-gid="gid://syiq/Photo/360492">This year marks a defining chapter in that journey, with just under $200 million in off-market sales achieved over the past six months. Among the firm’s recent milestones are the delivery of <a data-gid="gid://syiq/Yacht/11434" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Les Cinq75.75m (248'6&quot;)Feadship2025">Les Cinq</a> – commissioned directly with <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yacht</a> for her owner – the sale of the 73-metre Project Primo, and significant progress on the 88-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Spyder, now well underway.<img src="https://photo-assets.superyachttimes.com/photo/341004/image/large-527ae88c1dedf946586660e822672b4b.png" data-gid="gid://syiq/Photo/341004">The imminent opening of <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>' new Sunset Harbour office in Miami, perfectly timed ahead of FLIBS, underscores the brand’s deepening roots in the US market. Across the Atlantic, the appointment of Felicia Andjel as Chief Commercial Officer in London signals a new phase of European expansion. With fourteen years’ experience in family offices, Felicia’s leadership reinforces <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitsons</a>' positioning as a brokerage that aligns itself closely as a Family Office Partner.&nbsp;Looking ahead, the firm is placing strategic focus on the expansion of its charter division – a natural progression following a vibrant summer season that saw high demand aboard standout yachts including <a data-gid="gid://syiq/Yacht/7970" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Renaissance111.85m (366'12&quot;)Freire Shipyard2023">Renaissance</a>, <a data-gid="gid://syiq/Yacht/6423" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CC-Summer95.0m (311'8&quot;)Lürssen Yachts2019">CC-Summer</a>, <a data-gid="gid://syiq/Yacht/67" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Alfa Nero82.0m (269'0&quot;)Oceanco2007">Alfa Nero</a> and <a data-gid="gid://syiq/Yacht/8278" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kismet122.0m (400'3&quot;)Lürssen Yachts2024">Kismet</a>, among others. As the company strengthens its global presence, it is also witnessing a sharp rise in US client activity – a momentum driven by favourable fiscal conditions that are reshaping the landscape for American yacht buyers.<img src="https://photo-assets.superyachttimes.com/photo/258796/image/large-713a8c78a17f042b276f71eda7391d03.jpg" data-gid="gid://syiq/Photo/258796">Against this backdrop of expansion, <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>, co-founded by Brandon Kummer and Tony Imbesi has also seen a marked rise in enquiries from American clients in recent months. This upward trend is thanks, in part, to favourable fiscal measures tied to the so-called ‘Big Beautiful Bill’ (BBB) and the continuation of bonus tax depreciation. These incentives, designed to encourage investment, have given many US buyers a fresh reason to act decisively on yacht purchases.“Yachts are not only passion projects, but also business tools – whether that’s through charter programmes, entertainment, or corporate use,” explained Kummer. “The ability to take advantage of accelerated depreciation makes the numbers much more compelling, and suddenly the conversation shifts from ‘one day, maybe’ to ‘actually, this makes sense right now.’”<img src="https://photo-assets.superyachttimes.com/photo/280591/image/large-ec27c75cf1ce7cd0c7e34c0df920c204.jpg" data-gid="gid://syiq/Photo/280591">A financial framework creating new momentum The BBB reinstates 100% first-year depreciation for qualified yachts entering service between January 2025 and the end of 2029. Crucially, this incentive applies to both new-build and pre-owned yachts, provided they are ‘new’ to the taxpayer. For American buyers considering placing a yacht into charter, this development has made ownership far more financially attractive.The key requirement is that the yacht must be operated as a genuine business rather than for private use. To qualify, owners must place their vessels into a bona fide charter programme with the intent to generate income – complete with marketing efforts, charter operations, and accurate financial reporting. The scale of the benefit is tied directly to business use. For example, if a yacht is operated sixty percent for charter and forty percent for personal enjoyment, then sixty percent of the purchase price qualifies for bonus depreciation. Yachts can even be foreign-flagged, provided that they are used more than half the time in US waters.<img src="https://photo-assets.superyachttimes.com/photo/375773/image/large-23c5a8b4f006cc1f618142d5d35fe1f9.png" data-gid="gid://syiq/Photo/375773">A catalyst for decisive buyers According to Kummer, these financial levers are transforming client behaviour. “We’ve had clients who were sitting on the sidelines become very proactive in the past few months, simply because the tax treatment tilts the balance,” he said. “When you combine that with strong post-pandemic lifestyle demand, you get this wave of serious enquiries. It’s creating momentum in the US market that we haven’t seen in a while.”<img src="https://photo-assets.superyachttimes.com/photo/375774/image/large-3852109c746f960dc1586eccb93aa9f0.png" data-gid="gid://syiq/Photo/375774"> <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a> is positioning itself at the centre of this trend, offering American buyers not only brokerage expertise but also a dedicated environment for client engagement. The company’s forthcoming hospitality space in Sunset Harbour, Miami, has been designed as a private setting where clients can meet the team, discuss their yacht projects and experience the firm’s luxury-focused approach first-hand.For US buyers considering the step into ownership, the combination of financial incentives and lifestyle opportunity has never been more compelling. With expert guidance from the <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson</a> team and the chance to explore ideas within their new Miami space, clients are well placed to turn aspiration into acquisition.<img src="https://photo-assets.superyachttimes.com/photo/375778/image/large-f2c26f317b7337dbe23703ad9c850dd0.jpg" data-gid="gid://syiq/Photo/375778">For those attending the Fort Lauderdale International Boat Show next week, look out for <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitsons</a>' exciting new global partnership with Palm Tree Crew and go and see the <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson</a> team on board the 40-metre <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> <a data-gid="gid://syiq/Yacht/11336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Contigo40.8m (133'10&quot;)Benetti SpA2024">Contigo</a> in show.

Kitson Yachts new-build brokerage

How an American brokerage firm is steering a new wave of yacht buyers in the US

The 33.8-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> motor yacht <a data-gid="gid://syiq/Yacht/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Xanax33.8m (110'11&quot;)Admiral2007">Xanax</a> is for sale with Vassilis Fotilas and Sotiris Konstantakis of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.<img src="https://photo-assets.superyachttimes.com/photo/374569/image/large-594a2debf2f46576386d22fd6f301441.jpg" data-gid="gid://syiq/Photo/374569">Built in 2007 by the Italian shipyard <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> and extensively refitted in 2021, the <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> features exterior design by <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini Design &amp; Architecture</a>, interior design by <a data-gid="gid://syiq/Company/8427" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Stamm of Munich (Company)">Stamm of Munich</a>, with naval architecture by <a data-gid="gid://syiq/Company/409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Andrea Bacigalupo (Company)">Andrea Bacigalupo</a> and her builder.<img src="https://photo-assets.superyachttimes.com/photo/374576/image/large-234ec004c53a03bd00b8b28d7d86d74c.jpg" data-gid="gid://syiq/Photo/374576">Inside, her interior design brings together elegance and practicality. The <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a>’s main saloon’s expansive windows flood the space with natural light, creating a bright and airy atmosphere. In addition to serving as a luxurious lounge, her saloon also serves as a formal dining room. A sleek, high-gloss ceiling adds an elegant touch to the space.<img src="https://photo-assets.superyachttimes.com/photo/374577/image/large-368063b48d5ae3302fb265205f72e5e9.jpg" data-gid="gid://syiq/Photo/374577">The lounge area features plush, neutral-toned sofas and coffee tables, while the formal dining area is defined by an elegant dark-wood table that seats up to eight to ten guests. This central area flows seamlessly into her extensive outer decks.<img src="https://photo-assets.superyachttimes.com/photo/374571/image/large-2abe8037d2bc4b76ffa305fc56f5568b.jpg" data-gid="gid://syiq/Photo/374571">Onboard, <a data-gid="gid://syiq/Yacht/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Xanax33.8m (110'11&quot;)Admiral2007">Xanax</a> accommodates up to eight guests across four well-appointed staterooms, while a crew of five members is housed in three cabins.<img src="https://photo-assets.superyachttimes.com/photo/374572/image/large-29939ebf81dafe4194bef671c700a7a2.jpg" data-gid="gid://syiq/Photo/374572">Moving outside this <a href="https://www.superyachttimes.com/yachts/xanax/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht Xanax for sale</a>, the main aft deck offers a shaded alfresco dining area with a large table and woven chairs. Forward, a spacious sun deck is dedicated to entertaining guests and relaxation, featuring sun beds and a social area with U-shaped seating.Powered by twin <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a> engines, this <a href="https://www.superyachttimes.com/yachts/admiral/for-sale" rel="noopener noreferrer" target="_blank" title="">Admiral yacht for sale</a> cruises comfortably between 23 and 26 knots and reaches a top speed of 30 knots. With an aluminum hull and superstructure, she is well-suited for extended cruising.&nbsp;All photos provided courtesy of&nbsp;<a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.

Admiral motor yacht Xanax for sale

The 33.8-metre Admiral motor yacht Xanax is for sale with Vassilis Fotilas and Sotiris Konstantakis of Fraser.

34m Admiral motor yacht Xanax on the market

fort lauderdale boat show 2025 list of yachts

Superyacht Times presents a compilation of the yachts attending this year’s FLIBS in Fort Lauderdale.

Yachts attending Fort Lauderdale Boat Show 2025

The 48-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> motor yacht <a data-gid="gid://syiq/Yacht/7605" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Althea48.0m (157'6&quot;)Admiral2020">Althea</a> is for sale with Bryan Somerset of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.<img src="https://photo-assets.superyachttimes.com/photo/373779/image/large-6694375f47339fcc88cfa8b19fd7b24b.jpg" data-gid="gid://syiq/Photo/373779">Constructed entirely in aluminium, the <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> underwent an extensive refit at <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a> from 2024 to 2025, maintaining her in turnkey condition and upgrading key systems throughout.&nbsp;Designed by <a data-gid="gid://syiq/Company/4563" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gian Marco Companino Design (Company)">Gian Marco Campanino</a>, both inside and out, <a data-gid="gid://syiq/Yacht/7605" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Althea48.0m (157'6&quot;)Admiral2020">Althea</a> features a sleek, modern profile with large glass surfaces and clean lines. Her interiors combine modern Italian elegance with functionality, defined by floor-to-ceiling windows, a bright main saloon, and a panoramic skylounge designed for social gatherings.<img src="https://photo-assets.superyachttimes.com/photo/373787/image/large-0a4642c72178c88a9e7d019d7cbe3051.jpg" data-gid="gid://syiq/Photo/373787">Inside the <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a>, her main saloon offers a bright and open-plan space with an abundance of natural light. Her decor is modern and elegant, accented with light-coloured sofas and a lighter rug over the wooden floor. A dining space adjacent to the saloon has a dark rectangular table and upholstered dining chairs, seating up to six guests.<img src="https://photo-assets.superyachttimes.com/photo/373789/image/large-dcdf8afde387ac8093ea4ef8a000569b.jpg" data-gid="gid://syiq/Photo/373789">The <a href="https://www.superyachttimes.com/yachts/althea-48m/overview" rel="noopener noreferrer" target="_blank" title="">yacht Althea for sale</a> has a volume of 499 GT, which allows for generous interior spaces, including a full-beam owner’s suite on the main deck, four additional guest staterooms accommodating up to 11 guests, and quarters for 10 crew members.<img src="https://photo-assets.superyachttimes.com/photo/373790/image/large-0c10ae6c1e7ef499444005f24f84dbe2.jpg" data-gid="gid://syiq/Photo/373790">Outdoors, her expansive beach club offers direct access to the water, while expansive decks provide multiple options for lounging, dining, and entertainment.<img src="https://photo-assets.superyachttimes.com/photo/373786/image/large-c027842220360aefb21e48f4ba896c1c.jpg" data-gid="gid://syiq/Photo/373786"><img src="https://photo-assets.superyachttimes.com/photo/373782/image/large-45fd25feb6b8eb646315ca9f07bd2f1c.jpg" data-gid="gid://syiq/Photo/373782">Powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, this <a href="https://www.superyachttimes.com/yachts/admiral/for-sale" rel="noopener noreferrer" target="_blank" title="">Admiral yacht for sale</a> reaches a top speed of 19 knots and cruises comfortably at 12 knots, with a range of over 2,900 nautical miles. Her <a data-gid="gid://syiq/Company/1457" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RINA (Company)">RINA</a> classification and <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engine warranty both remain valid through 2030, ensuring long-term reliability for her next owner.&nbsp;

Admiral superyacht Althea for sale

The 48-metre Admiral Yachts motor yacht Altheais is for sale with Fraser Yachts.


48m Admiral superyacht Althea on the market

The 55.2-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> superyacht <a data-gid="gid://syiq/Yacht/11832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Raja²55.2m (181'1&quot;)Admiral2025">Raja²</a> is on the market with Lucas Theodosiou of <a data-gid="gid://syiq/Company/5183" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Med Waves Charters And Sales (Company)">Med Waves Charters And Sales</a>. Constructed in aluminum, the <a href="https://www.superyachttimes.com/yachts/for-sale" target="_blank">yacht for sale</a> belongs to the builder’s S-Force series and was delivered in May 2025.<img src="https://photo-assets.superyachttimes.com/photo/348536/image/large-6b5c15399b2df4a089dd7f7e61782f22.jpg" data-gid="gid://syiq/Photo/348536"><a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral’s</a> in-house design studio, <a data-gid="gid://syiq/Company/6450" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CentrostileDesign (Company)">Centro Stile</a>, was responsible for both the exterior and interior design of <a data-gid="gid://syiq/Yacht/11832" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Raja²55.2m (181'1&quot;)Admiral2025">Raja²</a>. The tri-deck yacht’s profile is defined by smooth, flowing lines that give the vessel a sleek and contemporary presence.<img src="https://photo-assets.superyachttimes.com/photo/336204/image/large-348292475322002e199ae14994a28ae2.png" data-gid="gid://syiq/Photo/336204"><img src="https://photo-assets.superyachttimes.com/photo/336203/image/large-a402acb85c5c7263c11b00dd09ad2dd0.png" data-gid="gid://syiq/Photo/336203">Inside, the <a href="https://www.superyachttimes.com/yachts/motor/for-sale" target="_blank">motor yacht for sale</a> features a bold, modern aesthetic, characterised by the use of fine materials, vivid colour contrasts and refined detailing. Carefully selected contemporary artworks also enhance the allure of the space.<img src="https://photo-assets.superyachttimes.com/photo/336205/image/large-21c6710ab63395d057c1973b19e7e6b3.png" data-gid="gid://syiq/Photo/336205">The main saloon is finished with elegance, showcasing mirrored surfaces, sculpted marble and rich wood throughout, while generous glazing floods the space with natural light. Moreover, the <a href="https://www.superyachttimes.com/yachts/raja" target="_blank">yacht Raja² for sale</a> can accommodate up to 12 guests in a six-stateroom layout, comprising a master suite, one VIP suite, two doubles and two twins.<img src="https://photo-assets.superyachttimes.com/photo/336193/image/large-dded4f421d3dcc021adc71eb4fa2edb4.png" data-gid="gid://syiq/Photo/336193"><img src="https://photo-assets.superyachttimes.com/photo/336192/image/large-50c1e4af4c68325f39a553364b2bf106.png" data-gid="gid://syiq/Photo/336192">Moving outside, the yacht offers dedicated spaces for both sunbathing and dining. Guests can make the most of the swimming pool adorned with gold mosaic details, while the beach club enhances the yacht’s strong connection to the water.<img src="https://photo-assets.superyachttimes.com/photo/336194/image/large-636c8839a4989b0dfec50786b836f82b.png" data-gid="gid://syiq/Photo/336194"><img src="https://photo-assets.superyachttimes.com/photo/336191/image/large-99903c40c6e9979c52bfcdb7f349a6fd.png" data-gid="gid://syiq/Photo/336191">Other highlights include a spacious garage that accommodates a 7.5-metre tender and an array of water toys, and a touch-and-go helipad that provides additional convenience.In terms of performance, the <a href="https://www.superyachttimes.com/yachts/admiral/for-sale" target="_blank">Admiral yacht for sale</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, delivering a cruising speed of 16 knots and a top speed of 18 knots.

Admiral yacht Raja2 for sale

The 55.2-metre Admiral superyacht Raja² is on the market with Lucas Theodosiou of Med Waves Charters And Sales. 

55m Admiral superyacht Raja² on the market

Monaco Yacht Show 2025 list of yachts

SuperYacht Times curated a list of yachts expected to grace the world's premier show for superyacht exhibition.


Yachts attending Monaco Yacht Show 2025

It is with great sadness that we announce the passing of Italian fashion designer and yacht owner Giorgio Armani who has died at the age of 91.<img src="https://photo-assets.superyachttimes.com/photo/257917/image/large-772d0f28734d1f8385778db76785b942.jpeg" data-gid="gid://syiq/Photo/257917">Armani built one of the most recognisable luxury brands in the world, reshaping the fashion industry with his signature clean lines and minimalist tailoring. Since founding his company in 1975, he expanded the Armani name beyond clothing into lifestyle, fragrance, hospitality and interiors.Born in Piacenza in 1934, Armani began his career in window dressing before moving into fashion design, where his innovative approach to menswear in the 1970s brought him international acclaim.<img src="https://photo-assets.superyachttimes.com/photo/257916/image/large-84e6ffa68644b3db36629c5b90ec4400.jpg" data-gid="gid://syiq/Photo/257916">Though his influence was strongest in fashion, Armani also extended his aesthetic philosophy into areas that intersected with the yachting world, particularly through interior collaborations and bespoke design projects.Over the years, the <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani/Casa</a> design team has been involved in several yacht projects including the Admiral 72 yacht, which was first announced in 2020, with the first hull <a data-gid="gid://syiq/Yacht/10203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="After You72.0m (236'3&quot;)Admiral2025">After You</a> on display at this year's <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show</a>. As well as this, Giorgio Armani was involved in the 55.2-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> S-Force superyacht <a data-gid="gid://syiq/Yacht/10188" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Silver Star I55.2m (181'1&quot;)Admiral2023">Silver Star</a>, which features custom interiors from <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Giorgio Armani</a>. <img src="https://photo-assets.superyachttimes.com/photo/289875/image/large-879edfcc4e4184cd41b38cba32acd19d.jpg" data-gid="gid://syiq/Photo/289875">An avid yacht enthusiast, Giorgio Armani previously owned the 49.9-metre <a data-gid="gid://syiq/Company/162" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Codecasa S.p.A. (Company)">Codecasa</a> yacht <a data-gid="gid://syiq/Yacht/659" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mariu49.9m (163'9&quot;)Codecasa S.p.A.2003">Mariu</a>, which included custom interiors. His current yacht, the 65-metre <a data-gid="gid://syiq/Company/162" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Codecasa S.p.A. (Company)">Codecasa</a> superyacht <a data-gid="gid://syiq/Yacht/585" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Main65.0m (213'3&quot;)Codecasa S.p.A.2008">Main</a>, also featured custom interiors, in collaboration with <a data-gid="gid://syiq/Company/1358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ortelli Architetti (Company)">Ortelli Architetti</a>.&nbsp;In 2022, Giorgio Armani was confirmed as the title sponsor of the previously named Loro Piana Superyacht Regatta, which takes place across the northeast coast of Sardinia, Italy, on the waters of the Costa Smeralda.<img src="https://photo-assets.superyachttimes.com/photo/34977/image/large-a5cbc58dce4fe9be9124901d7342cb53.jpg" data-gid="gid://syiq/Photo/34977">SuperYacht Times extends its deepest condolences to the Armani family, his friends and the whole Giorgio Armani team.

Giorgio Armani dies aged 91

It is with great sadness that we announce the passing of Italian fashion designer and yacht owner Giorgio Armani who has died at the age of 91.


In Memoriam: Italian fashion designer and yacht owner Giorgio Armani dies aged 91

The latest edition of the SuperYacht Times newspaper is here and she’s the biggest one yet. Over the course of 72 pages, we take you all over the globe: from the American Shipyards in the Pacific North-West to the marinas on the shores of Japan. Cruise along with us, from Palawan, the last ecological frontier of the Philippines, to the harbour of Monaco: this is issue 54. <img src="https://photo-assets.superyachttimes.com/photo/368348/image/large-0f9db997c0dd74273813c876b476e460.jpg" data-gid="gid://syiq/Photo/368348">DesignThis issue features an interview with a brand new, Amsterdam-based design house, <a data-gid="gid://syiq/Company/7963" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Weel Sluijter (Company)">Weel Sluijter</a>, a duo ready to make waves in the 50-metre-plus market. While their studio is young, the team behind Weel Sluijter are anything but inexperienced.Furthermore, we travel down to Venice for an exclusive interview with Enrico Gobbi on his design journey. Gobbi reflects on how his Team for Design evolved from working on smaller yachts to designing large-scale projects that focus on proportion, space, and emotion.<img src="https://photo-assets.superyachttimes.com/photo/368349/image/large-bcbc09baf98884f2c9f87264fa0a83eb.jpg" data-gid="gid://syiq/Photo/368349">Business: tradition and growthEditor-in-Chief, Francesca Webster, sits down with the leader behind a 150-year-old business: Peter Lürssen. Discussing the balancing tradition and transformation, <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a> reveals how the iconic shipyard is preparing for the next era of responsible yachting.&nbsp;Founder of <a data-gid="gid://syiq/Company/4433" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Outer Reef Yachts (Company)">Outer Reef Yachts</a>, Jeff Druek, sits down with SuperYacht Times to share his maritime journey that led to the foundation of one of the American industry’s favourite long-range cruiser brands and to discuss what their European future looks like.<img src="https://photo-assets.superyachttimes.com/photo/368350/image/large-ea8b41c51174a17585e4a2bcbf0fe0f7.jpg" data-gid="gid://syiq/Photo/368350">Spotted: Monaco’s hottest debutsOf course the fall issue wouldn’t be complete without highlighting some of the newest and biggest yachts attending the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show</a> in September. We’re expecting some extravagant debuts, the likes of <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship’s</a> 80-metre <a data-gid="gid://syiq/Yacht/11677" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Valor79.5m (260'10&quot;)Feadship2025">Valor</a>, <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral’s</a> 78-metre <a data-gid="gid://syiq/Yacht/9445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amalya77.7m (254'11&quot;)Admiral2025">Amalya</a>, and the 60-metre <a data-gid="gid://syiq/Yacht/5954" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Katana60.0m (196'10&quot;)Perini Navi2025">Katana</a> from <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>.Get this and much more in <a href="https://www.superyachttimes.com/newspaper/newspaper-issue-54" rel="noopener noreferrer" target="_blank" title="">Issue 54</a>, which is available now in print and digital formats. For subscription details or to read the issue online, visit <a href="https://www.superyachttimes.com/newspaper/newspaper-issue-54" rel="noopener noreferrer" target="_blank" title="">www.superyachttimes.com/newspaper</a>.

Superyacht Times Issue 54 published

The latest edition of the SuperYacht Times newspaper - issue 54 - is here and she’s the biggest one yet.

Issue 54 of the SuperYacht Times newspaper now available

Citing current geopolitical and economic constraints, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> (TISG) has reported a decline in key financial metrics, as outlined by its Board of Directors in the company’s half-year report. The company’s portfolio includes brands <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>, <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a>, <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, <a data-gid="gid://syiq/Company/194" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NCA Refit (Company)">NCA Refit</a> and <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi 1920</a>.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-4bf3eaa2517d3433bc0352c08e9306b0.jpg" data-gid="gid://syiq/Photo/330852">The results revealed a 1.4% decline in revenue compared to the first half of 2024, while net profit fell sharply by 58%, partly due to the previous period benefiting from a capital gain on the sale of the Viareggio shipyard.Commenting on these figures, Founder and CEO of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> Giovanni Costantino stated: “In a context of ongoing geopolitical and economic tensions, the protectionist policies enacted by the U.S. administration – through the introduction of additional import duties – have increased overall uncertainty and further complicated a market environment already undergoing a normalisation phase after the strong growth of recent years.”Below are the key figures to take away from the first half of 2025:<ul><li>Revenue €186.8 million, a decrease of 1.4% compared to €189.4 million in the first six months of 2024</li><li>EBITDA €30.4 million, down 6.3% from €32.4 million in the first half of 2024, with a margin on revenue of 16.3% versus 17.1% in the same period last year</li><li>Net profit €12.2 million, a decline of 58% compared to the first half of 2024, which was boosted by a capital gain from the sale of the Viareggio shipyard</li><li>Net financial position stood at €63.2 million negative, compared to €12 million negative at the end of December 2024</li><li>Investments for the period totalled €1.5 million</li><li>Total order book valued at €1.19 billion as of 30 June 2025</li><li>Guidance update: 2025 revenue expected between €350 million and €370 million, with an EBITDA margin forecasted between 16.5% and 17.0%</li></ul>“In this challenging scenario – characterised by a physiological, though temporary, slowdown in the yachting industry and longer negotiation timelines, particularly for larger yachts – we are satisfied with the regular progress of the many projects currently under construction,” explained Giovanni.Here is a complete summary of&nbsp;<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group’s</a>&nbsp;financial results for the first six months of 2025:RevenuesFor the first half of 2025, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> reported revenues of €186.8 million, representing a slight decrease of 1.4% compared to €189.4 million in the same period of 2024. Operating revenues totalled €183.5 million.Shipbuilding revenues reached €172.6 million, marking a 3% increase year-on-year, which <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> attributes to the steady progress of its ongoing contracts. Meanwhile, refit revenues amounted to €10.9 million, down 52% compared to the first half of 2024, reflecting a strategic focus on shipbuilding activities during the period.EBITDA EBITDA totalled €30.4 million, a decrease of 6.3% compared to €32.4 million in the same period of 2024, with a margin of 16.3%. The modest drop in profitability reflects a higher proportion of fixed structural costs, stemming from the lower production value recorded during the period.EBITEBIT stood at €25.6 million, down 4.5% compared to €26.8 million in the same period of 2024, with a margin on revenue of 13.7%.Net ProfitThe company also reported a group net profit amounting to €12.2 million, a decline of 58% versus €36.9 million in the first half of 2024. The report noted that the previous year’s result was boosted by a capital gain from the sale of the Viareggio shipyard.BacklogAs of 30 June 2025, the total order book, which represents the gross value of existing contracts for new yachts and refit projects yet to be delivered, stood at €1.19 billion, slightly down from €1.24 billion at 31 December 2024.The net backlog, which reflects the value of contracts for yachts not yet delivered, after deducting revenues already recognised in the income statement, was €362.3 million as of 30 June 2025, compared to €433.4 million at 31 December 2024.Investments<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> has made substantial investments in recent years to further internalise several high value-added production services, including steelwork and upholstery. During the first half of 2025, ordinary and extraordinary maintenance investments totalled €1.5 million.Net Financial PositionAs of 30 June 2025, the net financial position reflected net debt of €63.2 million, compared with €12.5 million at 31 December 2024 and €33 million at 31 March 2025. This change reflects the company’s operating results for the first half of the year, the distribution of €13 million in dividends and the investments undertaken during the period.In line with IAS/IFRS accounting standards, the net financial position also factors in the present value of concession fees payable to the Port Authorities for the shipyards in Marina di Carrara and La Spezia, as well as the Viareggio carpentry site. These fees totalled €7.5 million as of 30 June 2025 and will be settled over the respective concession periods.In June, the company secured a new €115 million medium-to-long-term loan with a seven-year term. This financing was accompanied by the repayment of all major existing loans at the time, effectively extending the average debt maturity under more favourable terms and ensuring sufficient resources to capitalise on an anticipated market recovery.Outlook for 2025The opening half of the year brought heightened uncertainty previously experienced in 2024. Alongside continued geopolitical unrest, most notably the ongoing war in Ukraine and worsening conflict in the Middle East, April also saw the implementation of new protectionist trade measures by the U.S. government.Given the current order book and progress on ongoing projects, the company now expects 2025 revenue to range between €350 million and €370 million, down from the earlier forecast of €410 million to €430 million. Profitability is projected at 16.5%–17.0%, compared with the previous guidance of 17.5%–18.0%.Against the backdrop of heightened market uncertainty and shifting global dynamics, Giovanni remarked: “Activity at our shipyards remains consistent, supported by meticulous organisation and ongoing enhancements to production processes. This has enabled us to deliver four large yachts during the period: three Admirals of 55, 66 and 78 metres and a 60-metre Perini Navi.”Expected Business Development<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> anticipates a positive outcome from ongoing negotiations for large yacht sales, reflecting growing demand for its brands. Strategic partnerships with <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Armani</a> and Automobili Lamborghini continue to strengthen, with new projects underway to reinforce the company’s position in the ultra-luxury segment.At the <a data-gid="gid://syiq/Event/271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2025">Monaco Yacht Show 2025</a>, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> will debut several flagship models, including the 72-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> <a data-gid="gid://syiq/Company/558" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Armani/Casa (Company)">Giorgio Armani</a>, a 60-metre <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> sailing yacht, two <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> yachts (78-metre full custom and 55-metre semi-custom) and a new 24-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. These unveilings are expected to boost international visibility and drive commercial activity.The company is also advancing its semi-custom product line to broaden its offering, optimise production, improve margins and reduce delivery times, while preserving the craftsmanship and exclusivity that define its reputation.“We expect current negotiations to be finalised by the end of the fiscal year. The strength of our offering and the relationships we have built over time with increasingly informed international customers, together with our design excellence and tailor-made attention to detail, remain the key features of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> brands,” Giovanni concluded.

TISG revenue decline h1 2025

The Board of Directors of the Italian Sea Group (TISG) has released the company’s financial results for the first half of 2025.

The Italian Sea Group reports revenue and profit decline in H1 2025

<img src="https://photo-assets.superyachttimes.com/photo/366178/image/large-451ebc462cf5fc696e79e771f179678e.jpg" data-gid="gid://syiq/Photo/366178">Spotted last week anchored here in Formentera, near Ibiza, Spain, was the 75.18-metre superyacht <a data-gid="gid://syiq/Yacht/7275" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kenshō75.18m (246'8&quot;)Admiral2022">Kenshō</a>. Delivered by <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> in 2022, <a data-gid="gid://syiq/Yacht/7275" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kenshō75.18m (246'8&quot;)Admiral2022">Kenshō</a> is instantly recognisable from afar with her green‑blue metallic hull, inspired by the 1960s Ford Mustang. Carrying a volume of 1,981 GT, her sweeping curves were developed by <a data-gid="gid://syiq/Company/37" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azure Yacht Design & Naval Architecture (Company)">Azure Yacht Design</a> alongside the owner’s team, while <a data-gid="gid://syiq/Company/6542" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jouin Manku (Company)">Jouin Manku</a> crafted calm, modular interiors in teak, marble, silk and bronze that shift effortlessly between private retreat and open social space. True to her name, <a data-gid="gid://syiq/Yacht/7275" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kenshō75.18m (246'8&quot;)Admiral2022">Kenshō</a>, a Zen notion of seeing one’s true nature, she features a six‑metre pool at sea level, a full beach club, a glass‑walled Jacuzzi and a toy garage stocked from Jet Skis to e‑foils. Under the waterline, <a data-gid="gid://syiq/Yacht/7275" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kenshō75.18m (246'8&quot;)Admiral2022">Kenshō</a> is powered by twin electric azipods powered by five variable‑speed generators, earning her ECO notation and noticeably low vibration underway. Explorer her interiors <a data-gid="gid://syiq/Article/56415" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Onboard Kenshō: The 75m zen-inspired superyacht (2022-11-28 15:30:00 +0100)">here</a>.If you would like to see your photo featured each day, then send your submissions to&nbsp;<a href="mailto:news@superyachttimes.com" target="_blank">news@superyachttimes.com</a>.

75m superyacht Kenshō anchored in Formentera

The 75m superyacht Kenshō, built by Admiral in 2022, is seen anchored in Formentera, Spain.

<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> has announced the delivery of the 77.7-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> yacht, build name <a data-gid="gid://syiq/Yacht/9445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amalya76.8m (251'12&quot;)Admiral2025">Blue Marlin</a> to her owners.<img src="https://photo-assets.superyachttimes.com/photo/345491/image/large-537eed2b465385f330c4df68ed7b3b42.png" data-gid="gid://syiq/Photo/345491">Launched in January 2025, <a data-gid="gid://syiq/Yacht/9445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amalya76.8m (251'12&quot;)Admiral2025">Blue Marlin</a> features exterior and interior design by <a data-gid="gid://syiq/Company/926" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sinot Yacht Architecture & Design (Company)">Sinot Yacht Architecture &amp; Design</a>, with naval architecture penned in-house by <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>. She displays a distinctive aqua blue colour and fluid lines that extend from the bow to stern.Read:&nbsp;<a data-gid="gid://syiq/Article/62465" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral 78m superyacht launched (2025-01-22 16:15:00 +0100)">Admiral 78m superyacht launched</a>With her size, <a data-gid="gid://syiq/Yacht/9445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amalya76.8m (251'12&quot;)Admiral2025">Blue Marlin</a> comfortably accommodates up to 12 guests in six staterooms, all elegantly-finished with top-notch amenities.<img src="https://photo-assets.superyachttimes.com/photo/366024/image/large-8398af797eea138a7e64d9526e6fb41f.jpg" data-gid="gid://syiq/Photo/366024">Having a custom-built design, <a data-gid="gid://syiq/Yacht/9445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amalya76.8m (251'12&quot;)Admiral2025">Blue Marlin</a> features spacious outdoor and indoor areas ideal for different socialisation and relaxation activities onboard. On deck, she is equipped with a six-metre swimming pool that could host parties and other activities while cruising. Moreover, dedicated lounging, seating and dining areas are also available alongside a deck Jacuzzi.Moving between decks is also seamless with an elevator inside, blurring the lines between the divisions for a seamless outdoor and indoor living onboard the yacht. A spa and state-of-the-art gym located also provides guests with wellness and relaxation options onboard.<img src="https://photo-assets.superyachttimes.com/photo/366025/image/large-875495b472ccbc46d8d7158595ccd8cb.jpg" data-gid="gid://syiq/Photo/366025">In terms of performance, <a data-gid="gid://syiq/Yacht/9445" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amalya76.8m (251'12&quot;)Admiral2025">Blue Marlin</a> is powered by twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> diesel engines and she is built with steel hull and aluminium superstructure.