Italy

Picchiotti

The 40.78-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> motor yacht <a data-gid="gid://syiq/Yacht/3077" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aetea40.78m (133'10&quot;)Picchiotti1981">Aetea</a>, previously named Al Said, is on the market with Vassilis Fotilas of <a data-gid="gid://syiq/Company/158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fraser (Company)">Fraser</a>.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/295933/image/large-96d8477a33d3ef9814a4214730c23494.jpg" data-gid="gid://syiq/Photo/295933">Originally delivered in 1981, the <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a> underwent a major refit in 2014, including brand-new engines, two new generators and a complete engine room overhaul. Moreover, she is built to <a data-gid="gid://syiq/Company/7911" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lloyd's (Company)">Lloyd's Class</a> standards and meticulously maintained by her original owners.<img src="https://photo-assets.superyachttimes.com/photo/295936/image/large-1ba4e28a5bf61f84aca03a7943ff2bda.jpg" data-gid="gid://syiq/Photo/295936"><a data-gid="gid://syiq/Yacht/3077" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aetea40.78m (133'10&quot;)Picchiotti1981">Aetea</a> features naval architecture crafted by her Italian builder’s in-house team with exterior design penned by <a data-gid="gid://syiq/Company/906" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arthur de Fever (Company)">Arthur de Fever</a>.<img src="https://photo-assets.superyachttimes.com/photo/295935/image/large-175aa834ccff082ab295bce0e1ad8a1b.jpg" data-gid="gid://syiq/Photo/295935"><img src="https://photo-assets.superyachttimes.com/photo/295937/image/large-8ed053d385595184aeb31cfdf78cb8a8.jpg" data-gid="gid://syiq/Photo/295937">Accentuated by rich wood paneling and thoughtfully curated furnishings, the interior of the <a href="https://www.superyachttimes.com/yachts/picchiotti/for-sale" rel="noopener noreferrer" target="_blank" title="">Picchiotti yacht for sale</a> exudes timeless charm. Those onboard can unwind and socialize in the spacious main saloon, where comfort meets elegance.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/360684/image/large-75cee2efbaa70509b7d8d741fde3cba7.png" data-gid="gid://syiq/Photo/360684"><img src="https://photo-assets.superyachttimes.com/photo/295941/image/large-334e1a898129e4cedc29c3733940f845.jpg" data-gid="gid://syiq/Photo/295941"><img src="https://photo-assets.superyachttimes.com/photo/295940/image/large-f388da8ab3ea24e61579e4954abcf865.jpg" data-gid="gid://syiq/Photo/295940"><img src="https://photo-assets.superyachttimes.com/photo/295939/image/large-6b753eab44e04b76f4e73004774a8593.jpg" data-gid="gid://syiq/Photo/295939"><img src="https://photo-assets.superyachttimes.com/photo/295938/image/large-320bd25e36749f20deb5dd9e7bd9fa99.jpg" data-gid="gid://syiq/Photo/295938">With a volume of 337 GT, she comfortably accommodates up to 10 guests across five well-appointed staterooms. Each stateroom reflects the yacht’s rustic charm and meticulous attention to detail, showcased through details such as antique maps and delicate figurines that create a warm, homey atmosphere for everyone on board. Further accommodations are provided for 10 crew members of the <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a>.<img src="https://photo-assets.superyachttimes.com/photo/295934/image/large-991230b03ae1948b52204ff1db55e506.jpg" data-gid="gid://syiq/Photo/295934"><img src="https://photo-assets.superyachttimes.com/photo/360683/image/large-a9c8fdfeffa33a56e0f9b45503757997.jpg" data-gid="gid://syiq/Photo/360683">Moving outside, her deck spaces offer ample room for guests to soak up the sun or enjoy delectable alfresco dining.<img src="https://photo-assets.superyachttimes.com/photo/360686/image/large-0962f338d8e174dbff358045f88a2f53.png" data-gid="gid://syiq/Photo/360686">Regarding her propulsion system, the yacht <a href="https://www.superyachttimes.com/yachts/aetea" rel="noopener noreferrer" target="_blank" title="">Aetea for sale</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 which gives her a cruising speed of 14.5 knots and a maximum speed of 16 knots.

41m Picchiotti superyacht Aetea for sale

The 40.78-metre Picchiotti motor yacht Aetea is on the market.

<a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>, a brand of the <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a>, is strategically focusing on markets that prioritise performance and have a strong preference for sporty products. In response to these market demands, the company has recently broadened its product range. Following the successful launch of the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>110 yacht in September 2024, <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a> introduced its new 29-metre model, the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95, designed by Marco Casamonti of <a data-gid="gid://syiq/Company/7152" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Archea Associati (Company)">Archea Associati</a>. This yacht is available in two distinct versions: the 95 Cruise and 95 Sport .<a href="http://superyachttimes.com" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times</a> spoke with Roy Capasso, Head of Sales at <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>, who revealed that two <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 yacht models are currently under construction, and the brand is able to build, for this specific model, between four to five yachts a year. The discussion centered on the customisation options available, its comparison with similar models from competitors, and the latest developments at <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>.<img src="https://photo-assets.superyachttimes.com/photo/347913/image/large-58a0441bd515813487d140185f983721.jpg" data-gid="gid://syiq/Photo/347913">Differences between the&nbsp;<a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 Cruise and SportCapasso revealed that The <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 Cruise, inspired by its larger counterpart, the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>110, skilfully combines spacious, elegantly designed social areas with the brand’s signature sporty technology, achieving an ideal balance between comfort and adventure. The vessel is distinguished by its sporty demeanour, exceptional quietness and lack of vibrations, which significantly enhance onboard livability and comfort. Both the interiors and exteriors are luxurious, airy, and welcoming, designed with meticulous attention to detail. A prominent feature is the flybridge, improved with reverse glazing that enlarges the space and offers spectacular sea views, accessible via two carbon-fibre external staircases from the aft deck.<img src="https://photo-assets.superyachttimes.com/photo/347917/image/large-ed4e7e29a6d3d46d5821e2a28b663eff.jpg" data-gid="gid://syiq/Photo/347917">The second version, the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 Sport, is designed for owners seeking the thrill of pure adrenaline and exhilarating high-speed water navigation, both safely and in style. Featuring sinuous and sporty lines, a convertible rooftop seamlessly integrated into its streamlined profile, and a state-of-the-art propulsion system, this model delivers impressive performance in terms of speed, manoeuvrability, efficiency, and comfort. The <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 S, with its innovative design solutions, can truly be described as the 'racing car' of the sea, elevating the yachting experience to a new level."This model embodies a new style of cruising – powerful, safe, efficient, noiseless, and immensely fascinating," Mr. Capasso stated. "We are certain the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 will meet and exceed our owners' wishes and requirements."How&nbsp;<a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>&nbsp;differentiate themselves from their competitorsSince the brand's inception in 1992, <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a> has set itself apart through its innovative use of jet drive propulsion systems. “We are proud to be leaders in this area, as we are one of the first shipyards that has been dedicated to jet production for years, always incorporating a triple engine setup,” highlights Capasso.Capasso further elaborates on their performance metrics, “When we analyse fuel consumption, we consider it relative to consumption per mile, not in absolute terms.” This methodological precision is evident in previous models like the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>110, which achieves speeds of 30-32 knots while consuming only about 18-20 litres per mile, remarkably comparable to an eight-cylinder engine of the same size.The drive for innovation is particularly pronounced in the sport version of <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB Yachts</a>. “The superstructure of the sport models is made of fiberglass but reinforced with carbon to significantly lighten the vessel and lower its center of gravity,” Capasso notes. This not only enhances the yacht’s navigational capabilities but also contributes to its efficiency, reducing fuel consumption per mile. <img src="https://photo-assets.superyachttimes.com/photo/347914/image/large-bb67f1e31117cf9177d406c5c80d925b.jpg" data-gid="gid://syiq/Photo/347914"><a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a>’s strategy and future ambitions<a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> is positioning itself to become a leading player on the global nautical stage by bolstering its resources to enhance operational capabilities. “We have infused the company with expertise and appointed a head of sales for each brand to ensure a focused and effective market approach,” explains Roy Capasso.A key element of this strategic enhancement is the acquisition and development of the ex <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini</a> and ex <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picciotti</a> shipyards in Viareggio. “These shipyards are strategically located on the Viareggio dock and include a substantial waterfront area of about 2000 square-metres, where we complete and deliver our boats directly to customers,” adds Capasso.Furthermore, <a data-gid="gid://syiq/Company/6468" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Yacht Group (Company)">Next Yacht Group</a> has established a dedicated customer lounge. This facility serves a dual purpose: it welcomes prospective buyers and provides a comfortable setting for existing clients to personalise their vessels. According to Capasso, “The customer lounge is integral to enhancing client experiences, offering tailored services to both potential buyers and those configuring their yachts.” <img src="https://photo-assets.superyachttimes.com/photo/347918/image/large-adb4499d4eadf5cb5a53e948733b027b.jpg" data-gid="gid://syiq/Photo/347918">As for the <a data-gid="gid://syiq/Company/1205" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="AB Yachts (Company)">AB</a>95 yacht model, “More details will be unveiled at the upcoming <a data-gid="gid://syiq/Event/258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai International Boat Show - 2025">Dubai International Boat Show</a>,” says Roy Capasso.

Roy Capasso on the AB95 and their vision for the future

AB Yachts is strategically focusing on markets that prioritise performance and have a strong preference for sporty products.

AB Yachts Head of Sales Roy Capasso on the AB95 and their vision for the future

<img src="https://photo-assets.superyachttimes.com/photo/343022/image/large-b42d66917b01e1e6db76285eb580efb4.jpg" data-gid="gid://syiq/Photo/343022">The superyachts <a data-gid="gid://syiq/Yacht/6182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Anawa62.0m (203'5&quot;)Damen Yachting2020">Anawa</a>, <a data-gid="gid://syiq/Yacht/6176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vector57.0m (187'0&quot;)Benetti SpA2018">Vector</a> and <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">Galileo</a> were spotted in December docked in the waters of the Maldives, in <a data-gid="gid://syiq/Company/8003" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Faro Marina (Company)">Faro Marina</a>. The 57-metre motor yacht <a data-gid="gid://syiq/Yacht/6176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vector57.0m (187'0&quot;)Benetti SpA2018">Vector</a>, built by <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> in 2018, showcases a steel-hulled displacement designed by the shipyard in-house team and features an interior created by the Italian designer <a data-gid="gid://syiq/Company/58" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Luca Dini Design & Architecture (Company)">Luca Dini</a>. The 865 GT yacht accommodates up to 12 guests across five staterooms, with space for 14 crew members. 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, each producing 1,470 horsepower, <a data-gid="gid://syiq/Yacht/6176" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Vector57.0m (187'0&quot;)Benetti SpA2018">Vector</a> achieves a top speed of 15 knots.Beside her, the 62-metre superyacht <a data-gid="gid://syiq/Yacht/6182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Anawa62.0m (203'5&quot;)Damen Yachting2020">Anawa</a>, delivered by <a data-gid="gid://syiq/Company/1821" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Damen Yachting (Company)">Damen Yachting</a> in 2020 and built for global exploration. Built to Polar Class standards, the explorer yacht is equipped for extended expeditions, offering up to 30 days of autonomous cruising. Her impressive features include two spacious tender garages, a dive store and a fully functional helipad, making her ideal for adventure seekers. Completing the lineup, the 55.7-metre explorer yacht <a data-gid="gid://syiq/Yacht/2496" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galileo55.7m (182'9&quot;)Perini Navi2011">Galileo</a>&nbsp; was delivered in 2011 by <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>. She has completed two full circumnavigations of the globe, venturing into some of the most remote destinations, including the Northwest Passage and the expansive waters of the Pacific Ocean.

Superyachts docked in the Maldives 

The superyachts Anawa, Vector and Galileo are seen docked in Male, in the Maldives. 

Italian yacht builder <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> has unveiled the first images for a new 61-metre superyacht concept, Vintage. <img src="https://photo-assets.superyachttimes.com/photo/341108/image/large-5429faacbd1f7f597bc0a8b8c236551b.jpg" data-gid="gid://syiq/Photo/341108"><a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> was acquired by <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 (TISG)</a> in 2022, alongside the <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> brand. Following this acquisition, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> unveiled a new Gentleman yacht line, which included the first model in the series, a 23.95-metre aluminium motor yacht with an expected delivery date of 2025.Read: <a data-gid="gid://syiq/Article/58134" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="First 24m Picchiotti Gentleman yacht in-build and interiors unveiled (2023-07-19 10:30:00 +0200)">First 24m Picchiotti Gentleman yacht in-build and interiors unveiled</a><img src="https://photo-assets.superyachttimes.com/photo/341105/image/large-e48ecca37531acf1e163c93afc6d0258.jpg" data-gid="gid://syiq/Photo/341105">The <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> boasts a history dating back to 1575, with its origins in Limite sull’Arno, a shipbuilding centre during the Medici era in Florence. Initially crafting small merchant boats for the Arno River, the shipyard expanded during the Renaissance to produce sailing ships, later progressing to 19th-century oceanic sailboats and steamships.Over time, <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> shifted its focus from commercial vessels to military ships and, by the 1920s, gradually turned its attention solely to yachts, especially after World War II. Today, under the guidance of Giovanni Costantino, CEO and Founder 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>, the brand seeks to honour and strengthen <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>’s historic legacy.<img src="https://photo-assets.superyachttimes.com/photo/341107/image/large-c07bbf9376127e894a1c5616da7e4a91.jpg" data-gid="gid://syiq/Photo/341107">Vintage showcases interior and exterior design by <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> R&amp;D Centro Stile, with naval architecture crafted by <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. She features a steel hull and aluminium superstructure, with an impve beam of 11.2-metres.“The new Vintage concept features old money style, with a modern twist to the classic lines of the American yachts’ golden age,” explained <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>. “Leisure, indulgence, and success, this is part of the allure of owning a <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> Vintage.”<img src="https://photo-assets.superyachttimes.com/photo/341106/image/large-ab797ef923681781ba3280358c26ca0c.jpg" data-gid="gid://syiq/Photo/341106">With its bold ‘old-money’ aesthetic, the Vintage yacht concept is designed to appeal not only to traditional tastes, but also to younger generations, particularly Gen Z. From automated systems to artificial intelligence, the seamless integration of smart tech onboard will help to set Vintage apart from others.Details surrounding the new Vintage yacht are being kept tightly under wraps, but initial details show that she will be able to accommodate up to 12 guests, as well as a crew of 15. <img src="https://photo-assets.superyachttimes.com/photo/341104/image/large-0e54d319ef29cfcec05d50b454b705d1.jpg" data-gid="gid://syiq/Photo/341104">In terms of performance, Vintage will be equipped with twin <a data-gid="gid://syiq/Company/1408" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caterpillar Inc (Company)">Caterpillar</a> engines, providing her with a comfortable cruising speed of 14 knots and a top speed of 15.5 knots.&nbsp;

Picchiotti unveils 61m Vintage yacht concept

Italian yacht builder Picchiotti has unveiled the first images for a new 61-metre superyacht concept, Vintage. 

Picchiotti unveils 61m ‘old-money’ Vintage superyacht concept

<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 (TISG)</a> has approved the financial results for the first nine months of 2024, revealing another positive quarter for the company which encompasses brands such as <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</a> 1920.<img src="https://photo-assets.superyachttimes.com/photo/330852/image/large-f30b583ba740d9f9311d4417a62c6d38.jpg" data-gid="gid://syiq/Photo/330852">Key figures to take away from the first nine months of 2024<ul><li>Revenues equal to €292 million, an increase of 11.4% compared to the first nine months of 2023</li><li>EBITDA equal to €50.1 million, a 16% increase from the first nine months of 2023</li><li>Net Financial Debt equal to €19 million</li><li>Investments for the period equal €7.2 million</li><li>The total value of contracts in progress (order book) is equal to €1.275 million as of September 30th, 2024.</li><li>Filippo Menchelli appointed as new Chairman 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></li></ul>“Following the excellent response obtained last September at the Monaco Yacht Show with the presentation of superyachts featuring extremely refined aesthetics and an excellent level of quality, we are working to finalise some important negotiations between the end of 2024 and the beginning of 2025, which will give us further momentum to consolidate the 2025 guidance,” commented Giovanni Costantino, 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>.Below is a full breakdown of the financial results for <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> for the first nine months of 2024:<img src="https://photo-assets.superyachttimes.com/photo/278853/image/large-c6f79c6d72278113ba8eaca84ce952e0.png" data-gid="gid://syiq/Photo/278853">RevenuesThroughout the first nine months of 2024, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> recorded €292 million in revenues, an 11.4% increase from the previous year’s figure of €262.2 million for the same period. In regards to its operating revenues, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> saw an increase of 12.5% from 2023, for a total of €292.1 million.&nbsp;On top of this, <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 a 12.2% increase in shipbuilding revenue for the first nine months of 2024, compared to 2023, with a total of €257.3 million. TISG states that this result is attributable to the regular progress of its existing projects.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> also saw a total refit revenue of €34.8 million for the first nine months of 2024, an increase of 5.8% compared to the same period in 2023.<img src="https://photo-assets.superyachttimes.com/photo/224771/image/large-6c9943bfc855a363fdae0848683c74e8.jpg" data-gid="gid://syiq/Photo/224771">EBITDA<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 reported an EBITDA equal to €50.1 million for the first nine months of 2024, up by 16% from the €43 million which was recorded for the same period in 2023 – giving them an EBITDA margin of 17.2% overall.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> stated that the increase in operating margin over time is attributable to the company’s strong focus on operating cost management, as well as its improved efficiency in production processes.&nbsp;They added that benefits from its investment strategy in production capacity, with an optimal mix of synergies between shipbuilding and refit activities, had also contributed, alongside economies of scale. <img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411">Backlog<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> announced that the total value of its order book amounts to €1.275 million. This total takes into account the gross value of existing contracts related to new yachts and refit projects, which as of 30 September 2024, have not yet been delivered to clients.The total value of existing contracts for yachts not yet delivered to clients and the net revenues already recorded in the income statement (net backlog) is equal to €544 million.<img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-176fab6ecaa60429a5acce58ec5da4d6.jpg" data-gid="gid://syiq/Photo/306419">InvestmentsDuring the first nine months of 2024, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> made investments of €7.2 million, aimed at further internalising the high value-added phases of the production process through the creation of the business unit dedicated to interior steelworks.This also included investments into the general site, as well as the expansion of the sales offices at the Marina di Carrara headquarters. In total, investments made in the third quarter of the year amounted to €2.2 million.<img src="https://photo-assets.superyachttimes.com/photo/278854/image/large-10473eb6d3fdc1c0fbd3a7cdaa4e5d83.jpg" data-gid="gid://syiq/Photo/278854">Net financial debtAs of 30 September 2024, the total net financial debt is equal to €19 million, versus a net financial debt of €1.5 million as of 31 December 2023. This reflects that a cash out of €19.6 million &nbsp;for the payment of dividends was made, alongside investments of €7.2 million for the first nine months of 2024 and a receipt of €21 million for the sale of the Viareggio shipyard.&nbsp;Read: <a data-gid="gid://syiq/Article/60721" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="TISG finalises sale of Viareggio shipyard to Next Yacht Group for €21 million (2024-06-12 13:15:00 +0200)">TISG finalises sale of Viareggio shipyard to Next Yacht Group for €21 million</a>In accordance with IAS/IFRS accounting standards, the net financial position includes the discounted value of the fees due to the Port Authorities for the state-owned concessions of the Marina di Carrara, La Spezia and Viareggio shipyards, which, as of 30 September 2024, amounted to €8.2 million, to be paid according to the duration of the relevant concessions.During the first nine months of 2024, the production activities of ongoing orders resulted in a working capital utilisation of €14 million, which allowed for significant work progress.<img src="https://photo-assets.superyachttimes.com/photo/337396/image/large-f73639c0abcbaeec45ac1e165d7b930f.png" data-gid="gid://syiq/Photo/337396">New chairman of The Italian Sea GroupFollowing the resignation of Simona Del Re as Chairwoman of the Board of Directors at <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 (TISG)</a> the company has announced the re-appointment of Filippo Menchelli as the new Chairman.After receiving a favourable opinion from the Appointments and Remuneration Committee, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> resolved to co-opt Filippo Menchelli onto the Board of Directors. In accordance with Article 2386 of the Italian Civil Code, he will be appointed as Chairman of the Board of Directors of the Company during the next Shareholders Meeting.Read: <a data-gid="gid://syiq/Article/61992" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Filippo Menchelli appointed as new Chairman of The Italian Sea Group (2024-11-13 16:15:00 +0100)">Filippo Menchelli appointed as new Chairman of The Italian Sea Group</a><img src="https://photo-assets.superyachttimes.com/photo/297415/image/large-b1791589f6806d87887224b91de9c63c.jpg" data-gid="gid://syiq/Photo/297415">Business outlook for 2024-2025Following the success achieved last September at the <a data-gid="gid://syiq/Event/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2024">Monaco Yacht Show 2024</a>, with the 65.9-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/9447" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="JAS65.9m (216'2&quot;)Admiral2025">JAS</a> and the 78.29-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/8722" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Platinum78.29m (256'10&quot;)Admiral2024">Platinum</a>, the company is working on several negotiations for large yachts, which it believes will be finalised between late 2024 and early 2025.“The success of the semi-custom lines also continues, including the Panorama project and the <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> Quaranta project; of the latter, at the end of October the keel-laying ceremony of the first motoryacht under construction was held, the sale of which was completed in the first half of 2024 and which marked an important development for <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>'s fleet,” added Giovanni Costantino.

TISG reports 11.4% revenue growth in Q3 2024

TISG has approved the financial results for the first nine months of 2024, revealing another positive quarter for the company.

The Italian Sea Group reports 11.4% revenue growth in Q3 2024

The Board of Directors 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>, encompassing brands such as <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>, has released their half-year financial report. <img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411">In the first half of 2024, <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> (<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 consolidated revenues of &nbsp;€189.4 million, marking a 14.2% increase from €165.9 million in the corresponding period of 2023. Operating revenues also rose to €189.8 million, up 16.8% from the previous year.&nbsp;The breakdown reveals that shipbuilding revenues reached €167.1 million, a growth of 20.1%, driven by steady advancements in ongoing projects. Meanwhile, refit revenues stood at €22.6 million, consistent with the previous year's figures. It is noteworthy that refit revenues typically experience seasonal fluctuations, often accelerating in the latter half of the year.The total value of the order book for <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>, encompassing both new yacht constructions and refit projects yet to be delivered, stands at &nbsp;€1.323 billion. This figure represents the gross value of existing contracts in the shipbuilding and refit sectors. Additionally, the net value of contracts for yachts not yet delivered to clients, after accounting for revenues already recognised in the income statement (net backlog), amounts to €611.4 million.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)"><img src="https://photo-assets.superyachttimes.com/photo/306419/image/large-176fab6ecaa60429a5acce58ec5da4d6.jpg" data-gid="gid://syiq/Photo/306419"></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> reported an Earnings Before Interest, Taxes, and Amortization (EBITDA) of €32.4 million in 2024, a 19% increase from €27.3 million in the prior year. The EBITDA margin improved to 17.1% from 16.4% in the previous year. This enhancement in operating margin is attributed to rigorous operating cost management, strategic balancing of shipbuilding and refit activities, and the internalisation of high value-added production processes. These improvements follow the recent establishment of a business unit dedicated to steelworks for interior finishing.<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 an Earnings Before Interest and Taxes (EBIT) of €26.8 million this year, reflecting a 23.5% increase from €21.7 million recorded during the same period in 2023 . The margin on revenues also improved, reaching 14.2% compared to 13.1% in the first half of 2023.A net result of €29 million was achieved, marking a substantial increase of 113.4% compared to €13.6 million in the corresponding period of 2023.In terms of strategic projections, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> anticipates revenues to range between €400 million and €420 million, with an EBITDA margin expected to be between 17% and 17.5%.<img src="https://photo-assets.superyachttimes.com/photo/297415/image/large-b1791589f6806d87887224b91de9c63c.jpg" data-gid="gid://syiq/Photo/297415">Giovanni Costantino, Founder &amp; 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>, remarked: “Our positive trend continues and the first half of 2024 marks a significant increase in revenues and EBITDA, with a remarkable growth in Net Profit. We are also very proud of having received the admission to the STAR segment, an important milestone which confirms the company's compliance with stringent requirements in terms of transparency, governance, communication and economic-financial soundness, values that <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 always pursued with determination. This milestone will allow us to strengthen our visibility in the international financial markets, as well as our commitment to shareholders and all stakeholders.”

The Italian Sea Group reports 14% increase in total revenue for H1

The Board of Directors of The Italian Sea Group has officially reviewed and approved the half-year financial report as of 30th June 2024.

The Italian Sea Group reports 14% growth in total revenue for H1

A major yacht fire has broken out at Marina Zea in Piraeus this morning, engulfing three yachts and causing substantial damage. According to local news outlets the newly launched 32.96-metre <a data-gid="gid://syiq/Company/778" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Golden Yachts Ltd. (Company)">Golden Yachts</a> motor yacht <a data-gid="gid://syiq/Yacht/2147" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="O'Riana32.96m (108'2&quot;)Golden Yachts Ltd.2024">O’Riana</a>, the 42.49-metre <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> motor yacht <a data-gid="gid://syiq/Yacht/2362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Libra Y42.49m (139'5&quot;)Picchiotti1977">Libra Y</a>, 30-meter motor yacht <a data-gid="gid://syiq/Yacht/1040" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Etra I30.0m (98'5&quot;)Lowland Yachts B.V.1989">Etra I</a>, were caught in the blaze and both yachts have now sunk. Reports have suggested that one of the three severely damaged boats is a local tourist vessel rather than a private yacht.<img src="https://photo-assets.superyachttimes.com/photo/321394/image/large-64b7be40716a414e5683242d05b41b1b.jpg" data-gid="gid://syiq/Photo/321394">The fire originated on one yacht and subsequently spread to two others, with explosions being reported, according to PortThema. According to news outlet Lefimerida, one firefighter was hospitalised for breathing problems and the Coast Guard rescued 10 individuals who were walking on the pier. <iframe width="640" height="360" src="https://www.youtube.com/embed/_bl06lDZzJc?&amp;wmode=opaque" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>At the peak of the incident, ten vehicles with 26 firefighters, three Coast Guard boats, and a fire brigade vessel were deployed at the site. As of Friday morning, 26 firefighters, along with ten vehicles, three Coast Guard boats, and a fire department vessel, remain on the scene to continue monitoring the situation.<img src="https://photo-assets.superyachttimes.com/photo/321395/image/large-451020772a54d642f2b6c7a9c099b06f.png" data-gid="gid://syiq/Photo/321395">One of the damaged yachts is believed to be a commercial tourist vessel. Authorities reported no individuals trapped on any of the yachts. The Coast Guard, fire department, and private divers are collaborating to assess and address any potential water pollution resulting from the fire.<iframe width="640" height="360" src="https://www.youtube.com/embed/0jSX68XgyGk?&amp;wmode=opaque" frameborder="0" allowfullscreen="" class="fr-draggable"></iframe>

Yacht fire Marina Zea

Firefighters extinguished a major blaze at Marina Zea in Piraeus, which engulfed three luxury yachts. The Greek Coast Guard rescued ten individuals.

Major fire in Marina Zea, Piraeus destroys yachts O'Riana, Libra Y, and Etra I

It is with great sadness that the <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a> has announced the passing of its esteemed founder and President Giuseppe Balducci today (10 June 2024). <img src="https://photo-assets.superyachttimes.com/photo/314533/image/large-ab34417df6b842bfbfdbb909edc4131e.jpg" data-gid="gid://syiq/Photo/314533">Born in Limite sull'Arno in 1937, Giuseppe Balducci embarked on his yachting career from &nbsp;a remarkably young age. Relocating to Viareggio during his childhood, Giuseppe began working as an electrician at the historic <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> shipyard in 1953 at just 16 years old. He remained with the Viareggio-based shipyard until its bankruptcy in 1971.During the same year, Giuseppe founded his own company Elettromare, a brand that continues to manufacture marine electrical systems to this day. Even then, Elettromare was a trailblazer in creating advanced electrical panels and systems for boats.During his business ventures Giuseppe Balducci extensively toured Italy and the United States, which provided him with insights into the evolving boat-building industry, particularly the shift from wood to fibreglass. This inspired him to open a factory in Massarosa (Lucca), dedicated to constructing fibreglass yachts. His foresight proved invaluable as during the 1980s, many boat builders began relying on him for their hull construction.<img src="https://photo-assets.superyachttimes.com/photo/14758/image/large-8ee1780749eebbb20a400a7a68aba8ed.JPG" data-gid="gid://syiq/Photo/14758">This vision led to the establishment of <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine</a>, which specialised in the construction of fast maxi-open yachts, renowned for their timeless style. The first open-maxi model, the Mangusta 80, is a testament to Giuseppe's innovative spirit, with as many as 85 units sold in the following years.<a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>, as it stands today, is a testament to Giuseppe Balducci's unwavering enthusiasm and belief in his dream. His commitment to the potential of Viareggio saw him become a founding partner of two key companies in the port of Viareggio, Udina and <a data-gid="gid://syiq/Company/5323" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arpeca Shipyard (Company)">ArPeCa</a>.Giuseppe remained actively involved in his ventures until the very end, personally overseeing the construction of a new manufacturing plant in Pisa, which is set to be officially opened in the coming days.“Giuseppe will always be remembered as a reserved man, with a subtle sense of humour and a great love for his wife Bruna, his children Maurizio and Katia, his beloved granddaughters, and all his employees, who, together with him, have built vessels that have become icons in the marine industry,” added the <a data-gid="gid://syiq/Company/473" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Overmarine Group SPA (Company)">Overmarine Group</a>.The funeral service will be held tomorrow, Tuesday, 11th June, at 11:00 at the Church of Don Bosco in Viareggio.

Overmarine Group founder and President Giuseppe Balducci passes away

Overmarine Group has announced the passing of its esteemed founder and President Giuseppe Balducci today. 

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In memoriam: Overmarine Group founder and President Giuseppe Balducci

The Board of Directors 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> (<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>), a leading yacht builder based in Marina Di Carrara and encompassing brands such as <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>, has officially reviewed and approved the preliminary consolidated financial results as of May 15th, 2024. <img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411"><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 amounting to €95.6 million, marking a notable increase of 12.2% compared to €85.2 million in the corresponding quarter of 2023. The company also observed a significant rise in EBITDA, which grew by 16.6% to reach €16.1 million, up from €13.8 million in the first quarter of the previous year. The EBITDA margin has shown improvement, stabilising at 16.8%, compared to 16.2% in the same period of 2023.Shipbuilding revenues were particularly strong at €86.7 million, reflecting a 26.2% increase over the prior year, driven by the steady progress of ongoing construction projects and new sales contracts. However, refit revenues slightly declined to €9.1 million due to the higher allocation of production capacity to shipbuilding.The total value of the order book as of March 31, 2024, stood at €1,344 million, with the net backlog (value of contracts for yachts pending delivery net of recognised revenues) reaching €667.4 million.There are 35 projects under construction: 25 yachts and 10 <a data-gid="gid://syiq/Company/511" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tecnomar (Company)">Tecnomar</a> for Lamborghini 63, with deliveries scheduled until 2027.<img src="https://photo-assets.superyachttimes.com/photo/276845/image/large-89bdd037be0ad035cf382cde4c424bad.jpg" data-gid="gid://syiq/Photo/276845"><a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a> also reported a net financial position of negative €25 million, a significant shift from a positive stance of €2 million as of December 31, 2023. This transition primarily reflects the financial implications of a substantial extension in the state concession for the Marina di Carrara shipyard. According to IAS/IFRS accounting standards, the extension—stretching the concession period from December 31, 2043, to December 31, 2072—necessitated adjustments to the Net Financial Debt, incorporating an additional €8 million for the current valuation of anticipated future fees.<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 also entered into an agreement with <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>, designating the Yachting Family Office as an "Authorised Sales Agency" for the American market. <img src="https://photo-assets.superyachttimes.com/photo/112607/image/large-8cf16f6fca69e81b2b7760622e8a35c7.jpg" data-gid="gid://syiq/Photo/112607">Following a robust first quarter, characterised by steady progress on ongoing projects and an anticipated increase in order intake for the second half of the year, The Italian Sea Group reaffirms its financial projections for 2024. Initially disclosed during the Capital Markets Day, the company forecasts year-end revenues to be between €400 million and €420 million, with an EBITDA margin expected to be between 17% and 17.5%. Additionally, at the same event on February 7th, The Italian Sea Group presented its strategic vision for 2025. The company projects continued growth, with revenues expected to range from €430 million to €450 million and an EBITDA margin set to expand to between 18% and 18.5%.<img src="https://photo-assets.superyachttimes.com/photo/297415/image/large-b1791589f6806d87887224b91de9c63c.jpg" data-gid="gid://syiq/Photo/297415">Giovanni Costantino, Founder &amp; 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>, commented: “I am very proud of the results we approve today, which confirm the moment of development and consolidation that our Group is experiencing. The increasing appreciation of our superyachts from Owners all over the world and the success of semi- custom lines, which let us optimise our production capacity, allow us to enhance the quality and visibility of our order book. We continue our expansion in the most dynamic areas of the world for luxury yachting, attracting an ever- increasing and more resilient clientele also due to the important partnerships with leading sector brokers.”

TISG reports revenues of up €95.6 million for Q1 2024

The Board of Directors of TISG has officially reviewed and approved the preliminary consolidated financial results as of May 15th, 2024.

TISG reports 12% revenue increase for Q1 2024 to €95.6 million

Yachts attending the Mediterranean Yacht Show 2024

We take a look at yachts attending this eighth edition of the world's largest crewed yacht charter show, which is returning to Greece this year. 

The largest yachts attending MEDYS 2024

The 40.78-metre Picchiotti superyacht <a data-gid="gid://syiq/Yacht/3077" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Aetea40.78m (133'10&quot;)Picchiotti1981">Aetea</a> is on the market with <a data-gid="gid://syiq/Company/5463" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Barnes Yachting (Company)">Barnes Yachting</a>.<img src="https://photo-assets.superyachttimes.com/photo/295942/image/large-2691cf9cb3ba381d8580b7b944f6c6a9.jpg" data-gid="gid://syiq/Photo/295942">Delivered in 1981, this <a href="https://www.superyachttimes.com/yachts/motor/for-sale" rel="noopener noreferrer" target="_blank" title="">motor yacht for sale</a>, formerly known as Al Said, sports an exterior design created by the US-based studio <a data-gid="gid://syiq/Company/906" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arthur de Fever (Company)">Arthur de Fever</a> along with naval architecture imagined in-house by her Italy-based builder <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>.<img src="https://photo-assets.superyachttimes.com/photo/295941/image/large-334e1a898129e4cedc29c3733940f845.jpg" data-gid="gid://syiq/Photo/295941">At a volume of 353 GT, the <a href="https://www.superyachttimes.com/yachts/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht for sale</a>, which has a beam of 7.85-metres and a draft of 2.5-metres, is capable of hosting up to 10 guests onboard across five staterooms.<img src="https://photo-assets.superyachttimes.com/photo/295937/image/large-8ed053d385595184aeb31cfdf78cb8a8.jpg" data-gid="gid://syiq/Photo/295937">While a distinctive navy blue hull grants the vessel a striking exterior profile, her deck spaces provide plenty of room for guests to top up on their tan or indulge in delectable alfresco dining under the sun’s rays.<img src="https://photo-assets.superyachttimes.com/photo/295933/image/large-96d8477a33d3ef9814a4214730c23494.jpg" data-gid="gid://syiq/Photo/295933">Moving inside, the <a href="https://www.superyachttimes.com/yachts/aetea/for-sale" rel="noopener noreferrer" target="_blank" title="">yacht Aetea for sale</a>’s interior saloon exhibits a eclectic mixture of leather and soft fabrics in a diverse, vibrant colour palette ranging from electrifying red to muted cream.<img src="https://photo-assets.superyachttimes.com/photo/295935/image/large-175aa834ccff082ab295bce0e1ad8a1b.jpg" data-gid="gid://syiq/Photo/295935">Those who recline on the sumptuous sofas with intricately embroidered cushions find themselves in a comfy haven surrounded by emotive and largely impressionistic artwork, alongside soothing sea views through the expansive windows.<img src="https://photo-assets.superyachttimes.com/photo/295936/image/large-1ba4e28a5bf61f84aca03a7943ff2bda.jpg" data-gid="gid://syiq/Photo/295936">In terms of her accommodation, the <a href="https://www.superyachttimes.com/yachts/picchiotti/for-sale" rel="noopener noreferrer" target="_blank" title="">Picchiotti yacht for sale</a>’s extravagant staterooms offers unique embellishments such as figurines suspended on the wall, framed vintage maps, and chicly rustic bedside tables that give the sleeping sanctuaries a sense of home. <img src="https://photo-assets.superyachttimes.com/photo/295939/image/large-6b753eab44e04b76f4e73004774a8593.jpg" data-gid="gid://syiq/Photo/295939"><img src="https://photo-assets.superyachttimes.com/photo/295940/image/large-f388da8ab3ea24e61579e4954abcf865.jpg" data-gid="gid://syiq/Photo/295940">Regarding her performance, the superyacht 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 that propel her to a breezy cruising speed of 14.5 knots and a top speed of 16 knots. <img src="https://photo-assets.superyachttimes.com/photo/295934/image/large-991230b03ae1948b52204ff1db55e506.jpg" data-gid="gid://syiq/Photo/295934">

41m Picchiotti yacht Aetea joins the market 

The 40.78-metre superyacht Aetea is on the market with Barnes Yachting.


41m Picchiotti superyacht Aetea joins the market 

The ultimate guide to the Singapore Yachting Festival 2024

SuperYacht Times takes a look at what you can expect to find at this year’s Singapore Yachting Festival 2024. 

Everything you need to know about the Singapore Yachting Festival 2024

The Board of Directors of The <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Italian Sea Group</a>, a leading yacht builder based in Marina Di Carrara and encompassing brands such as <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>, has officially reviewed and approved the preliminary consolidated financial results as of 31 December 2023.<img src="https://photo-assets.superyachttimes.com/photo/299411/image/large-0c278c95831829aaa8d38b96eac3721f.png" data-gid="gid://syiq/Photo/299411">The <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a> has reported a substantial increase in total revenues, reaching €364 million, a notable 24% growth compared to €295 million in the previous year. This surge in revenue can be primarily attributed to new sales contracts and the advancement of existing orders.The total value of the order book, which encompasses the gross value of contracts for yachts pending delivery to clients (including both shipbuilding and refit segments), stood at €1,265 million as of December 31, 2023.&nbsp;Additionally, the net value of these existing contracts, after accounting for revenues already recognised in the income statement (net backlog), amounted to €609 million. This net backlog offers a clear view into the company's future revenue streams and operational pipeline, further solidifying its financial stability and growth trajectory.&nbsp;The preliminary EBITDA for the same period was reported at €61 million, marking a significant enhancement from the €47 million recorded at the end of 2022. The EBITDA margin also saw an improvement, rising to 16.8% from 15.9%.&nbsp;The company's financial performance as of December 31, 2023, revealed a Preliminary Net Financial Position of €2 million, shifting from a negative position of €11 million at the end of 2022. This improvement in financial status reflects several key financial activities throughout the year: a €14.4 million expenditure on dividend distributions, the aforementioned investments totaling €10 million, and the sale of an office building within the Viareggio shipyard, which resulted in a net cash inflow of €10.6 million.&nbsp;The Strategic Outlook for 2024-2025 anticipates considerable organic growth, leveraging the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a>'s robust infrastructure and the synergistic integration of <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a> and its assets. This growth is further supported by strategic partnerships with luxury brands and a comprehensive sales network that spans globally. The <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a> has set ambitious growth targets, aiming for revenues in the range of &nbsp;€400-420 million and an EBITDA Margin of 17-17.5% for 2024. For 2025, the revenue forecast is set between &nbsp;€430-450 million, with an expected EBITDA Margin of 18-18.5%. <img src="https://photo-assets.superyachttimes.com/photo/278854/image/large-10473eb6d3fdc1c0fbd3a7cdaa4e5d83.jpg" data-gid="gid://syiq/Photo/278854">Giovanni Costantino, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">TISG</a>’s Founder &amp; CEO, commented: “2023 has been a challenging yet satisfying year. Our return to the <a data-gid="gid://syiq/Event/182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2023">Monaco Yacht Show</a>, the important deliveries, and the development of new, exciting projects for our brands have represented an additional step for the <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">Group</a>’s growth, which is now an established reference point in luxury yachting.&nbsp;Once again, we have respected and exceeded the market’s expectations, with revenues reaching €363 million and an EBITDA Margin of 16.8%, beyond the guidance we announced at the beginning of last year. We also recorded a positive Net Financial Position, despite a rewarding dividend policy and the investments made for the integration of a company like <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>, for which we have interesting perspectives.&nbsp;With seven yacht launches, six of which we will deliver, 2024 promises to be a year full of new challenges and exciting opportunities for development, which I am sure we will be able to overcome and face in the best way.”

The Italian Sea Group reports  24% growth in total revenues

The Italian Sea Group has officially reviewed and approved the preliminary consolidated financial results as of 31 December 2023.

The Italian Sea Group reports 24% growth in total revenues

<a data-gid="gid://syiq/Company/4774" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pulina Exclusive Interiors (Company)">Alessandro Pulina</a> has a wealth of experience garnered from working with established Italian shipyards, including <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> and <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a>. Since founding his design studio, <a data-gid="gid://syiq/Company/4774" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pulina Exclusive Interiors (Company)">Pulina Exclusive Interiors</a>, in 2014, he has undertaken projects worldwide, with a growing emphasis on the superyachting sector in China coupled with a dedication to sourcing sustainable materials for the interior design of superyachts.<a href="https://www.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">Superyacht Times</a> had the opportunity to speak with Founder <a data-gid="gid://syiq/Company/4774" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pulina Exclusive Interiors (Company)">Alessandro Pulina</a>, to delve into his background, the inception of <a data-gid="gid://syiq/Company/4774" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pulina Exclusive Interiors (Company)">Pulina Exclusive Interiors</a>, the firm's design philosophy, and its ongoing projects.<img src="https://photo-assets.superyachttimes.com/photo/295422/image/large-de56c8286bd4759c0c42b0fc41631a4c.png" data-gid="gid://syiq/Photo/295422">Tell me a little about yourself, including your background, education, and how you entered the yachting industry.&nbsp;My connection to the yachting industry dates back to my youth when my father owned a small motor yacht and would spend ample time onboard. This memorable experience not only fuelled my passion for yacht design but led me to choose it as my final course during my studies at the University of Florence. I was very fortunate to meet Guido Spadolini, an innovative architect and visionary who helped me work on my thesis, which focused on the design of a 21-metre fast open yacht.After graduating in Architecture, I enrolled in a unique master’s degree program, established through a partnership with the universities of &nbsp;Florence, Genoa, and Pisa. This master’s course played a pivotal role in my entry into the yachting sector. Immediately following its completion, I secured a position as an interior designer with the shipyard Filippo Picchiotti (FP), owned by one of the members of the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> family, previous owners of the <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> brand. There, I collaborated extensively with the exterior designer <a data-gid="gid://syiq/Company/4575" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Paolo Caliari Design (Company)">Paolo Caliari</a> on the Jaguar brand, a series of &nbsp;yachts ranging from 21 to 27-metres, that were sold in the American and European market. Unfortunately, the shipyard fell into bankruptcy in 2008.After FP, I joined <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> as style manager for their fibreglass projects for approximately 10 years, mostly managing production in Viareggio and Fano. I successfully managed around 500 yacht projects, overseeing the intensive production process. Notable projects included the development of new series yachts such as the <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> Crystal, Mediterraneo, Tradition, and the Classic Supreme series. As style manager, I was also responsible for developing the <a data-gid="gid://syiq/Company/358" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut Yachts (Company)">Azimut</a> Grande project; we delivered the first unit of the series to a client in Hong Kong. &nbsp;During this period, I extensively travelled worldwide, gaining insights into the yachting industry across different countries. The experience in various shipyards equipped me with the tools and knowledge necessary, allowing me to refine my creative vision. The combination of these experiences eventually inspired me to establish my own design studio in 2014, which is approaching its ten-year anniversary next year.&nbsp;Can you share how the firm has evolved over the years and elaborate on the projects you are currently involved in?<img src="https://photo-assets.superyachttimes.com/photo/295443/image/large-c1be7d8714fb13fa0bbc24ac320dadb4.jpg" data-gid="gid://syiq/Photo/295443">Over the years, our firm has undergone significant growth, expanding to two offices, one located in the heart of Pisa with a team of 15 employees, housed in a beautiful historic building just a short distance from the iconic Tower of Pisa, and another strategically positioned in the art centre of Shanghai. Moreover, I have also been recently appointed as a consultant for the Chinese government in the yachting sector.&nbsp;Our international presence across two continents has played a pivotal role in our ability to undertake multiple yacht projects worldwide, spanning three continents. We've been involved in diverse projects, ranging from Australia, where we collaborated on the 35.25-metre <a data-gid="gid://syiq/Company/899" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Silver Yachts (Company)">Silver Yachts</a> <a data-gid="gid://syiq/Yacht/8564" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Space Cat35.25m (115'8&quot;)Silver Yachts2022">SpaceCat</a> delivered in 2022, to Italy, working on the 38.2-metre <a data-gid="gid://syiq/Company/5302" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Maori Yacht (Company)">Maori</a> motor yacht <a data-gid="gid://syiq/Yacht/8464" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="K+38.2m (125'4&quot;)Maori Yacht2022">K+</a> delivered in 2022 and the 2022 62-metre <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a> superyacht <a data-gid="gid://syiq/Yacht/7207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RIO62.0m (203'5&quot;)CRN2022">RIO</a>. Moreover, we have also worked with the Chinese shipyard <a data-gid="gid://syiq/Company/3780" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Pride Mega Yachts (Company)">Pride Mega Yachts</a>, where we contributed to the interior design of the 88.8-metre <a data-gid="gid://syiq/Yacht/5634" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Illusion Plus88.5m (290'4&quot;)Pride Mega Yachts2018">Illusion Plus</a>. Our most recent project was the <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti</a> 40.8-metre motor yacht <a data-gid="gid://syiq/Yacht/10454" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mia 240.8m (133'10&quot;)Benetti SpA2023">Mia 2</a>. <img src="https://photo-assets.superyachttimes.com/photo/295428/image/large-bb47339f799749c0d150a49f1b6733cb.jpg" data-gid="gid://syiq/Photo/295428">Our studio reflects our increasingly international perspective, with designers hailing from various countries, including China, Taiwan, Turkey, Ukraine, Russia, and, of course, Italy. This diversity in the team aligns with our commitment to effective communication, especially crucial when engaging with clients from different linguistic and cultural backgrounds. The studio's approach on embracing diverse cultures enhances our ability to connect with a global clientele.Furthermore, we've undergone a recent significant evolution by expanding our scope of work beyond interiors to include exteriors. We are currently involved in a project on both the interior and exterior design of a series of new yachts, covering a range from 15.24 to 36.8-metres in China.<img src="https://photo-assets.superyachttimes.com/photo/295430/image/large-2cc40d651f5067f77f29922bbe868515.jpg" data-gid="gid://syiq/Photo/295430">Could you elaborate on the collaborative process with&nbsp;<a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a>&nbsp;regarding the interior design of the 62-metre &nbsp;yacht&nbsp;<a data-gid="gid://syiq/Yacht/7207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RIO62.0m (203'5&quot;)CRN2022">RIO</a>?The project of designing the interiors of <a data-gid="gid://syiq/Yacht/7207" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RIO62.0m (203'5&quot;)CRN2022">RIO</a> was intriguing due to the robust communication and deep understanding between our design team and the client. This dynamic relationship enabled us to capture the client’s vision and generate an interior with a welcoming familial atmosphere and a tropical inspiration. In order to achieve this we gathered a lot of elements inspired by the vibrant colours found in tropical forests, for example. The result was a harmonious blend of colours, carefully orchestrated to avoid a random or disjointed aesthetic.<img src="https://photo-assets.superyachttimes.com/photo/295423/image/large-17a23d2e28c5834ed5fd6f12aa5f05b7.jpg" data-gid="gid://syiq/Photo/295423">Moreover, given the yacht's numerous and distinct decks and rooms, we conducted thorough studies on how to manage colours seamlessly and a cohesive experience throughout the many floors in the yacht and create a unified, purposeful design. The collaboration with the <a data-gid="gid://syiq/Company/12" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="CRN (Company)">CRN</a> team and the owners was instrumental &nbsp;to this success. A core principle of our design philosophy is recognising the importance of a cooperative approach. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/295425/image/large-4eb3bf9959fd0e53947940ae38c8080e.jpg" data-gid="gid://syiq/Photo/295425"><img src="https://photo-assets.superyachttimes.com/photo/295427/image/large-478e588b0e66a933f99c84419b6d0a29.jpg" data-gid="gid://syiq/Photo/295427">At the <a data-gid="gid://syiq/Event/182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2023">Monaco Yacht Show</a> you showcased the latest innovations in biotechnological materials for yacht interior design. Could you elaborate on the goals and objectives of the project "Aligned with Sustainability" ?Our initiative 'Aligned with Sustainability,' showcased at the <a data-gid="gid://syiq/Event/182" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Yacht Show - 2023">Monaco Yacht Show 2023</a>, &nbsp;emerged from a noticeable growing client interest in sustainable interior design materials for yachts. However, addressing this demand posed a challenge due to the lack of what I often refer to as 'tools', comprehensive resources and materials to support sustainable projects.In order to address this gap, we initiated research, collaborating with the university Sant'Anna in Pisa. Our aim was to identify companies producing sustainable materials, including biomaterials and bioplastics. The goal was to curate finishing products and materials that, when combined, could contribute to a design that is 100 percent or close to 100 percent sustainable. In the course of our research, we identified a company that develops biomaterials derived from sources like oranges and lemons.&nbsp;This endeavour aligns with a broader movement in the industry where dedicated research and innovation are focused on creating new materials for the future. It's a crucial consideration, as we stand at the threshold of the future, prompting us to think about the well-being of the next generation. Personally, as a parent of three children, I find it imperative to shift our approach from traditional methods to conducting research for a sustainable future.&nbsp;When you are designing a yacht, how do you ensure that the design remains stylish and relevant when the yacht is eventually launched?Addressing the question of maintaining style and relevance in yacht design is undoubtedly one of the most significant challenges a designer faces especially with interior yacht design. The goal is to cultivate a contemporary interior design that emanates a perpetual sense of freshness, resists the pull of passing trends and ensures an enduring appeal that stands the test of time.During my involvement in the design of the third hull of the Crystal series, the 42-metre <a data-gid="gid://syiq/Yacht/4629" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Soy Amor42.0m (137'10&quot;)Benetti SpA2014">Soy Amour</a>, achieving synchronisation with the owners proved to be a meticulous process. This often entailed multiple revisions to ensure perfect alignment and harmony between the design vision and their preferences. This summer, I had the opportunity to revisit <a data-gid="gid://syiq/Yacht/4629" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Soy Amor42.0m (137'10&quot;)Benetti SpA2014">Soy Amour</a> after approximately 18 years, and it still radiated a sense of freshness and contemporaneity.&nbsp;The success of this enduring appeal can be attributed to my design approach in eschewing a fixed historical period, and embracing a heritage process that transcends time. Yacht refits are common after seven to eight years, but our aim is to extend the longevity of our designs.&nbsp;If you could purchase your own yacht or advise a client, is there one design feature you feel contributes most towards a luxurious experience onboard?Absolutely, when considering yacht design, our approach is to reimagine life onboard. The market traditionally adheres to standard layouts with a fixed number of cabins and public areas. However, our experience, particularly in designing villas in diverse locations such as China and Abu Dhabi, has revealed a shift in client preferences. Now, it's less about a specific number of guest bedrooms and more about creating versatile spaces that foster communal activities.&nbsp;We're exploring concepts like winter gardens and chill rooms where people can engage in various activities. Clients are seeking modern office spaces on yachts, deviating from the traditional setup. The contemporary onboard office is designed as an experiential space equipped with technology, multiple screens, meeting areas, and a setting conducive for conducting business. Our vision is to revolutionise the yacht experience, moving away from the conventional desire for a set number of cabins to a more dynamic and multifunctional onboard lifestyle.Finally, any exciting projects or developments you would like to unveil?Whilst I can't disclose specifics, I can share that in China we have entered into a collaborative venture with prominent car brands for an innovative yacht project. Additionally, we're also engaged in projects with <a data-gid="gid://syiq/Company/7149" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yihong Yachts (Company)">Yihong Yachts</a> as well as <a data-gid="gid://syiq/Company/7448" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Eastar yacht (Company)">Eastar Yacht</a>. Closer to home in Italy, we're underway with a refit project for a 55-metre superyacht.<img src="https://photo-assets.superyachttimes.com/photo/295421/image/large-7537bf0d751362c5540917a40199ebaf.png" data-gid="gid://syiq/Photo/295421">

Meet the Italian designer informing China's superyacht sector

Superyacht Times had the opportunity to speak with Founder Alessandro Pulina who has undertaken projects worldwide, with a growing emphasis in China.

Italy based yacht builder <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> has announced that the inaugural model of its Gentleman yacht line has moved to its outfitting phase. The 23.95-metre motor yacht is scheduled to be delivered in 2024. <img src="https://photo-assets.superyachttimes.com/photo/278455/image/large-009945219760b3cdf0ee6304d28719ae.jpg" data-gid="gid://syiq/Photo/278455">The introduction of the new Gentleman line marks the revival of <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a>, a renowned shipyard with a rich history in Italy. The relaunch came just after six months following the acquisition of <a data-gid="gid://syiq/Company/350" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Picchiotti (Company)">Picchiotti</a> and its sister company <a data-gid="gid://syiq/Company/51" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Perini Navi (Company)">Perini Navi</a>. <img src="https://photo-assets.superyachttimes.com/photo/278459/image/large-e04c4adec8df93896ddd487d36af6974.jpg" data-gid="gid://syiq/Photo/278459"><img src="https://photo-assets.superyachttimes.com/photo/278458/image/large-422ce44366087656ff7432212d19d6ab.jpg" data-gid="gid://syiq/Photo/278458">She 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>, while the naval architecture is a collaborative effort between <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>, <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) and the consultancy of Kurt Lehmann and his company <a data-gid="gid://syiq/Company/2973" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Moments (Company)">Yacht Moments</a>. Up to eight guests are accommodated onboard the superyacht, and she also has accommodation for four crew members including the captain. <img src="https://photo-assets.superyachttimes.com/photo/278456/image/large-9a72fae439674b024c7eca3a043b36fd.jpg" data-gid="gid://syiq/Photo/278456">The 24-metre model offers two subtly modified variations: the classic "enclosed" stern featuring unfolding sea terraces, and an alternative choice of an open aft, providing a contemporary beach club ambience.<img src="https://photo-assets.superyachttimes.com/photo/278460/image/large-7851196b976a14579b171176caa1e5ba.jpg" data-gid="gid://syiq/Photo/278460"><img src="https://photo-assets.superyachttimes.com/photo/278461/image/large-f166e665b52d46c481c537e85b574729.jpg" data-gid="gid://syiq/Photo/278461"><img src="https://photo-assets.superyachttimes.com/photo/278462/image/large-e393d076625d3f48ff76167f41b94dda.jpg" data-gid="gid://syiq/Photo/278462"><img src="https://photo-assets.superyachttimes.com/photo/278466/image/large-c5f9c417293915005b30eac366438251.jpg" data-gid="gid://syiq/Photo/278466">Performance wise, she is powered by twin <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> engines, which give her a cruising speed of 16 knots and a top speed of 19 knots.<img src="https://photo-assets.superyachttimes.com/photo/278464/image/large-f11983b6e1a0eb06abb79b357b5bf171.jpg" data-gid="gid://syiq/Photo/278464">

First 24m Picchiotti Gentleman yacht moves to outfitting phase

Italy based yacht builder Picchiotti has announced that the inaugural model of its Gentleman yacht line has moved to its outfitting phase.