New Horizon: Damen to develop refit yard in Montenegro
The redevelopment of the yard, according to Damen, will be completed in early 2020 with the new yard starting to be at full capacity by early 2021. Official statements say the project will create 300 new jobs and bring trained marine works to Montenegro. Nearby Porto Montenegro started when Peter Munk, a Hungarian-born, Canadian businessman purchased a site in Montenegro for €23 million in 2007 with the purpose of building a superyacht marina that would rival mainstream destinations. With backing from LVMH Chairman, Bernard Arnault, Russian oligarch, Oleg Deripaska and Lord Jacob Rothschild, the Barrick Gold founder set out to develop the largest private-sector investment in the country.
Located near the coastal city of Tivat, Porto Montenegro’s ambition was to become a homeport for some of the world’s largest yachts by providing their crew and visiting owners with high end facilities. The development also included the construction of a strong ecosystem around the marina with condos, restaurants and a five star hotel.
The Ritz-Carlton Yacht Collection: Azora
Azora is the name of the first yacht of The Ritz-Carlton Yacht Collection. On December 5, 2018, the first of the three yachts The Ritz-Carlton Yacht Collection, which was presented on October 9, was given the Spanish name Azora, which means “blue sky”.
The name Azora, personifying the beauty of the sky and ocean, embodies both – Douglas Protero Executive Director of The Ritz-Carlton Yacht Collection.
Blue is the signature color of The Ritz-Carlton, as well as the color designed to inspire travel, which is what determines the name for the first yacht The Ritz-Carlton Yacht Collection. It also symbolizes the tranquility of the sky and the serenity of the ocean, opens the way for creativity and new experiences.
The Azora will accommodate up to 298 guests in 149 cabins with their own private terraces.
Designed to order a yacht with a length of 190 meters and capable of accommodating up to 298 guests in 149 cabins with their own private terraces, will go on their first cruise in February 2020.
142m Lurssen Project Redwood moved to floating dock
Project Redwood, the 142-meter superyacht currently in-build at Lurssen, has now been moved to a floating dock as footage from social media shows. Due for delivery in 2020, the yacht is expected to become one of the 15 largest yachts in the world.
First announced in December 2015, Project Redwood was designed by Nuvolari Lenard. Features mentioned at the time include a sports and diving center on the lower deck, a number of tenders of up to 15 meters and two helipads. Expected to be built to PYC regulations, the yacht could have 20 staterooms for up to 36 guests.
One of the largest projects known to be in development at the German shipyard, Project Redwood was the largest yacht ever sold by a brokerage firm according to Robert Moran, Moran Yacht & Ship’s president. The design working on this project is the same that worked on building the 88-meter Quattroelle.
Project Redwood is also being referred to as Project Opus according to social media posts. The 142-meter is set to become one of a string of megayachts to be launched and delivered by Lurssen, which recently included the 135-meter Crescent, the 111-meter TIS and the 123-meter Al Lusail amongst others.
Inside the 91m yacht seized by Malaysia
In the spotlight throughout a long-running case around Malaysia’s sovereign wealth fund 1MDB, the 91-meter Equanimity is now being auctioned for a nine-figure sum by Malaysia’s government. Built by Oceanco, the superyacht was delivered with one of the largest spas ever seen onboard a yacht 1MDB was created in 2009 as a sovereign wealth fund with over $4 billion under management to invest in strategic projects. After a series of investments in energy and real estate, a controversy around the fund began as to whether funds had been misappropriated throughout this period by management and government officials.
Later investigations led to asset seizures spearheaded by the US DoJ, amongst which was Equanimity. It was then claimed that her owner, financier Jho Low, had ordered the yacht using profits that were connected to 1MDB’s real estate dealings and off-shore accounts totalling over $250 million for the yacht’s purchase and upkeep.
Financed also in part through a loan by Sotheby’s financial against art works, Equanimity was delivered in 2014 and introduced at the Monaco Yacht Show later that year where she won the award of finest yacht. Amongst her main highlights was an extensive spa area that spanned a large part of her lower deck.
Following developments in the 1MDB case, the DoJ moved to seize Equanimity in June 2017 as part of their effort to recoup an estimated $400 million in alleged profits from Low. The yacht was eventually seized in Indonesia at the request of Malaysian authorities. According to a spokesman for Equanimity (Cayman) Ltd, this was done in violation of Indonesian and American court rulings.
Following the seizure, the yacht was transported to Malaysia where finance minister, Lim Guan Eng said an auction of the yacht was to take place. It is now understood at least nine figures were being sought for the yacht at the auction, which is expected to be completed by March 2019.
Equanimity was, however, famous across the yachting community, well before being pushed into the limelight by this case, for its extensive spa area on the lower deck, plunge pools and highly customised interior. At 2,998 gross tons of interior volume, the yacht still sits as the 65th largest yacht in the world.
The 91-meter’s spa is akin to that of a megapolis’ 5-star hotel. Incorporating plunge pools, massage areas, saunas, experiential showers, hammams, jacuzzis and a gym all designed with the most precious of materials, it directly connects to a beach club from which guests can swim out into the ocean.
Aft of its second deck, Equanimity features a large helipad, typically covered with lounging sofas and sun beds when not in use. Forward of the helipad is a 20sqm spa pool sitting in front of the entrance to the yacht’s spacious main salon. Throughout the deck, guests are kept within the atmosphere of a luxurious, relaxing spa.