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Top ten brand new superyachts to charter in 2023

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By Nina Done   2 June 2023

With the summer season now in full swing, we take a look at some of the newest additions to the charter fleet for 2023.

Offering unparalleled levels of privacy, the chance to spend quality time with your closest friends and family, world-class leisure and entertainment facilities and stunning surroundings there really is no better way to enjoy a vacation than on a luxury yacht charter. Read on to discover our top ten picks of the best new yachts to charter in 2023;

Launched by Golden Yachts last month, the 78m (255ft) superyacht O'REA  is scheduled for delivery to her owner this June, when she will be made available for charter around the sublime cruising grounds of Greece . 

Showcasing a sleek exterior with a plumb bow, the yacht has been designed with relaxation in mind, with plenty of areas onboard where guests can kick back, unwind and entertain in maximum comfort and style.

Highlights include : an expansive swimming pool on her main deck, health bar at the entrance of her lounge area and an abundance of top-quality spa facilities including a sauna, massage room and Hammam. 

Commissioned by highly experienced owners, you can be assured that the elegant 66m (216ft) Rossinavi superyacht ALCHEMY will offer everything you could possibly want on a luxury yacht charter.

Penned by the esteemed Philippe Briand for Vitruvius Yachts, the steel and aluminum motor yacht is a masterclass in design and innovation, with Enrico Gobbi at Team 4 Design heading up her interior scheme.

Highlights include : a spa-centered beach club, a suspended glass staircase, zen-calm interiors and a huge array of land and water toys

Marking her debut onto the world stage at the Palm Beach International Boat Show in March, the custom Amels 60 (196ft) superyacht ENTOURAGE offers her guests a floating oasis of luxury. 

Providing accommodation for 12 guests, she boasts an exceptionally well-equipped master cabin, comprising a dedicated lounge, two bathrooms and adjoining twin-bed guest suite, as well as a fold-down balcony providing glorious over-water views.

Highlights include : a vast sundeck where guests can sip drinks in her Jacuzzi pool or relax on sumptuous loungers, chic light-filled interiors, fold-down balconies and wide deck spaces offering endless opportunities to relax and unwind. 

Available for charter around the glittering coastline of Croatia this summer, the 52m (171ft) Custom sailing yacht SCORPIOS will cut a fine figure in the water as she powers along under sail. Showcasing a striking black hull and blonde teak decking, she is every inch the contemporary sailing yacht .

Her stylish flair continues into her beautiful interiors, featuring elegant herringbone wooden floors, plush carpets and sumptuous sofas, with discrete lighting adding a warm ambiance.

Highlights include : a sun-kissed flybridge offering guests a variety of options with far-reaching views across a number of zones; from her expansive forward dining area to her Jacuzzi with swim-up bar and semi-circular sunpads further aft. 

Marking Benetti ’s third hull in its award-winning B.Now 50 series, the 50m (164ft) superyacht FANTASEA is home to a wealth of charter-pleasing amenities and beautiful interiors that will have charter guests in raptures. 

Designed to reflect the characteristics of the owner’s unique vision and insight, the yacht offers up a wealth of interior and exterior relaxing and social spaces that flow harmoniously between one another.

Highlights include : her vast sundeck, stunning upper deck saloon and 36 square-meter waterside beach club with infinity pool and loungers.

ETERNAL SPARK

Marking the first hull in Bilgin Yacht ’s highly-anticipated 163 series, the 50m (163ft) superyacht ETERNAL SPARK is the perfect blend of performance, style and innovation. 

With a bright and airy scheme that has been cleverly engineered through the use of full-height windows and low external bulwarks, the motor yacht offers guests spacious living areas set across a unique layout, with accommodation for 12 in six luxurious suites. 

Highlights include : a convertible indoor movie theater, with an additional alfresco cinema set-up, oversized glass-walled Jacuzzi on her sundeck and a sunken-level beach club featuring a full-height Finnish sauna, ice fountain, entertainment system and wet bar.

Winning a special commendation award at the World Superyacht awards 2023 , charterers will not go far wrong in making 44m (145ft) yacht ACE  their top choice for their next luxury yacht vacation. 

Built by the up-and-coming Conrad Shipyard in Poland, the yacht is not just a pretty face. Featuring a slew of crowd-pleasing amenities, guests will also love her generous proportions and elegant interiors.

Highlights include : a sun-kissed top deck, featuring an infinity pool with a shaded nearby sit-up bar providing day-long refreshments. This area also benefits from an alfresco cinema set up for movie nights under the stars.  

Available for charter around the Mediterranean , the 40m (131ft) yacht LADY FIRST is the perfect platform for first-timers looking to dip their toes into the charter waters this summer.

Launched earlier this year as part of their Belissima 130 range, the Riva yacht is elegance personified.

Highlights include : a lavish, 60 square-meter beach club and a spacious sundeck that provides guests with ample alfresco outdoor entertainment spaces. Meanwhile, principle charterers are in for a treat with their own on-deck stateroom complete with a terrace and Jacuzzi that offers next level privacy and comfort for their yacht vacation.

Representing the second hull in Gulf Craft ’s Majesty 120 series, the 37m (121ft) superyacht OLIVIA will mark her debut onto the charter market in the celebrated cruising grounds of the West Mediterranean .

The yacht's tri-deck design offers ample spaces for socializing and relaxing, as well as a variety of interior and alfresco dining options.

Highlights include : an expansive sundeck with a beechwood finish wet bar and large Jacuzzi, a crowd-pleasing beach club and swim platform with retractable steps where guests can take to the warm Mediterranean sea on her array of toys and accessories. 

Set to welcome her first guests around the sublime cruising grounds of the East Mediterranean, the sumptuous 36m (117ft) yacht ANDIAMO makes a wonderfully comfortable choice for a luxury yacht charter this summer. 

The brand new Sanlorenzo SD118 has been purpose-built for outdoor living, with generous deck spaces offering swathes of sunbathing opportunities and plenty of lounging space. She also offers a great family-friendly layout; ideal for guests with children or groups of friends keen to experience the high life. 

Highlights include : a large swim platform and beach club stocked with an array of the latest water toys, exercise equipment, on-deck Jacuzzi and fold-down balconies in the main and upper deck salons. She also boasts a top speed of 19 knots, perfect for island hopping around the East Mediterranean. 

So there we have it, ten incredible new yachts all available for charter this year and you can be among the first step on board and experience a wonderful vacation in the utmost luxury.

To find out more about any of the superyachts featured in this list get in touch with your preferred yacht charter broker . Alternatively, view the entire fleet of superyachts available for luxury yacht charter.

Other standout new yachts available for charter

48m Dunya Yachts 2024

47m Sanlorenzo 2023

55m Custom 2024

41m Benetti 2023

30m Ferretti Yachts 2023

27m Sanlorenzo 2023

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The Haves and the Have-Yachts

By Evan Osnos

In the Victorian era, it was said that the length of a man’s boat, in feet, should match his age, in years. The Victorians would have had some questions at the fortieth annual Palm Beach International Boat Show, which convened this March on Florida’s Gold Coast. A typical offering: a two-hundred-and-three-foot superyacht named Sea Owl, selling secondhand for ninety million dollars. The owner, Robert Mercer, the hedge-fund tycoon and Republican donor, was throwing in furniture and accessories, including several auxiliary boats, a Steinway piano, a variety of frescoes, and a security system that requires fingerprint recognition. Nevertheless, Mercer’s package was a modest one; the largest superyachts are more than five hundred feet, on a scale with naval destroyers, and cost six or seven times what he was asking.

For the small, tight-lipped community around the world’s biggest yachts, the Palm Beach show has the promising air of spring training. On the cusp of the summer season, it affords brokers and builders and owners (or attendants from their family offices) a chance to huddle over the latest merchandise and to gather intelligence: Who’s getting in? Who’s getting out? And, most pressingly, who’s ogling a bigger boat?

On the docks, brokers parse the crowd according to a taxonomy of potential. Guests asking for tours face a gantlet of greeters, trained to distinguish “superrich clients” from “ineligible visitors,” in the words of Emma Spence, a former greeter at the Palm Beach show. Spence looked for promising clues (the right shoes, jewelry, pets) as well as for red flags (cameras, ornate business cards, clothes with pop-culture references). For greeters from elsewhere, Palm Beach is a challenging assignment. Unlike in Europe, where money can still produce some visible tells—Hunter Wellies, a Barbour jacket—the habits of wealth in Florida offer little that’s reliable. One colleague resorted to binoculars, to spot a passerby with a hundred-thousand-dollar watch. According to Spence, people judged to have insufficient buying power are quietly marked for “dissuasion.”

For the uninitiated, a pleasure boat the length of a football field can be bewildering. Andy Cohen, the talk-show host, recalled his first visit to a superyacht owned by the media mogul Barry Diller: “I was like the Beverly Hillbillies.” The boats have grown so vast that some owners place unique works of art outside the elevator on each deck, so that lost guests don’t barge into the wrong stateroom.

At the Palm Beach show, I lingered in front of a gracious vessel called Namasté, until I was dissuaded by a wooden placard: “Private yacht, no boarding, no paparazzi.” In a nearby berth was a two-hundred-and-eighty-foot superyacht called Bold, which was styled like a warship, with its own helicopter hangar, three Sea-Doos, two sailboats, and a color scheme of gunmetal gray. The rugged look is a trend; “explorer” vessels, equipped to handle remote journeys, are the sport-utility vehicles of yachting.

If you hail from the realm of ineligible visitors, you may not be aware that we are living through the “greatest boom in the yacht business that’s ever existed,” as Bob Denison—whose firm, Denison Yachting, is one of the world’s largest brokers—told me. “Every broker, every builder, up and down the docks, is having some of the best years they’ve ever experienced.” In 2021, the industry sold a record eight hundred and eighty-seven superyachts worldwide, nearly twice the previous year’s total. With more than a thousand new superyachts on order, shipyards are so backed up that clients unaccustomed to being told no have been shunted to waiting lists.

One reason for the increased demand for yachts is the pandemic. Some buyers invoke social distancing; others, an existential awakening. John Staluppi, of Palm Beach Gardens, who made a fortune from car dealerships, is looking to upgrade from his current, sixty-million-dollar yacht. “When you’re forty or fifty years old, you say, ‘I’ve got plenty of time,’ ” he told me. But, at seventy-five, he is ready to throw in an extra fifteen million if it will spare him three years of waiting. “Is your life worth five million dollars a year? I think so,” he said. A deeper reason for the demand is the widening imbalance of wealth. Since 1990, the United States’ supply of billionaires has increased from sixty-six to more than seven hundred, even as the median hourly wage has risen only twenty per cent. In that time, the number of truly giant yachts—those longer than two hundred and fifty feet—has climbed from less than ten to more than a hundred and seventy. Raphael Sauleau, the C.E.O. of Fraser Yachts, told me bluntly, “ COVID and wealth—a perfect storm for us.”

And yet the marina in Palm Beach was thrumming with anxiety. Ever since the Russian President, Vladimir Putin, launched his assault on Ukraine, the superyacht world has come under scrutiny. At a port in Spain, a Ukrainian engineer named Taras Ostapchuk, working aboard a ship that he said was owned by a Russian arms dealer, threw open the sea valves and tried to sink it to the bottom of the harbor. Under arrest, he told a judge, “I would do it again.” Then he returned to Ukraine and joined the military. Western allies, in the hope of pressuring Putin to withdraw, have sought to cut off Russian oligarchs from businesses and luxuries abroad. “We are coming for your ill-begotten gains,” President Joe Biden declared, in his State of the Union address.

Nobody can say precisely how many of Putin’s associates own superyachts—known to professionals as “white boats”—because the white-boat world is notoriously opaque. Owners tend to hide behind shell companies, registered in obscure tax havens, attended by private bankers and lawyers. But, with unusual alacrity, authorities have used subpoenas and police powers to freeze boats suspected of having links to the Russian élite. In Spain, the government detained a hundred-and-fifty-million-dollar yacht associated with Sergei Chemezov, the head of the conglomerate Rostec, whose bond with Putin reaches back to their time as K.G.B. officers in East Germany. (As in many cases, the boat is not registered to Chemezov; the official owner is a shell company connected to his stepdaughter, a teacher whose salary is likely about twenty-two hundred dollars a month.) In Germany, authorities impounded the world’s most voluminous yacht, Dilbar, for its ties to the mining-and-telecom tycoon Alisher Usmanov. And in Italy police have grabbed a veritable armada, including a boat owned by one of Russia’s richest men, Alexei Mordashov, and a colossus suspected of belonging to Putin himself, the four-hundred-and-fifty-nine-foot Scheherazade.

In Palm Beach, the yachting community worried that the same scrutiny might be applied to them. “Say your superyacht is in Asia, and there’s some big conflict where China invades Taiwan,” Denison told me. “China could spin it as ‘Look at these American oligarchs!’ ” He wondered if the seizures of superyachts marked a growing political animus toward the very rich. “Whenever things are economically or politically disruptive,” he said, “it’s hard to justify taking an insane amount of money and just putting it into something that costs a lot to maintain, depreciates, and is only used for having a good time.”

Nobody pretends that a superyacht is a productive place to stash your wealth. In a column this spring headlined “ A SUPERYACHT IS A TERRIBLE ASSET ,” the Financial Times observed, “Owning a superyacht is like owning a stack of 10 Van Goghs, only you are holding them over your head as you tread water, trying to keep them dry.”

Not so long ago, status transactions among the élite were denominated in Old Masters and in the sculptures of the Italian Renaissance. Joseph Duveen, the dominant art dealer of the early twentieth century, kept the oligarchs of his day—Andrew Mellon, Jules Bache, J. P. Morgan—jockeying over Donatellos and Van Dycks. “When you pay high for the priceless,” he liked to say, “you’re getting it cheap.”

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In the nineteen-fifties, the height of aspirational style was fine French furniture—F.F.F., as it became known in certain precincts of Fifth Avenue and Palm Beach. Before long, more and more money was going airborne. Hugh Hefner, a pioneer in the private-jet era, decked out a plane he called Big Bunny, where he entertained Elvis Presley, Raquel Welch, and James Caan. The oil baron Armand Hammer circled the globe on his Boeing 727, paying bribes and recording evidence on microphones hidden in his cufflinks. But, once it seemed that every plutocrat had a plane, the thrill was gone.

In any case, an airplane is just transportation. A big ship is a floating manse, with a hierarchy written right into the nomenclature. If it has a crew working aboard, it’s a yacht. If it’s more than ninety-eight feet, it’s a superyacht. After that, definitions are debated, but people generally agree that anything more than two hundred and thirty feet is a megayacht, and more than two hundred and ninety-five is a gigayacht. The world contains about fifty-four hundred superyachts, and about a hundred gigayachts.

For the moment, a gigayacht is the most expensive item that our species has figured out how to own. In 2019, the hedge-fund billionaire Ken Griffin bought a quadruplex on Central Park South for two hundred and forty million dollars, the highest price ever paid for a home in America. In May, an unknown buyer spent about a hundred and ninety-five million on an Andy Warhol silk-screen portrait of Marilyn Monroe. In luxury-yacht terms, those are ordinary numbers. “There are a lot of boats in build well over two hundred and fifty million dollars,” Jamie Edmiston, a broker in Monaco and London, told me. His buyers are getting younger and more inclined to spend long stretches at sea. “High-speed Internet, telephony, modern communications have made working easier,” he said. “Plus, people made a lot more money earlier in life.”

A Silicon Valley C.E.O. told me that one appeal of boats is that they can “absorb the most excess capital.” He explained, “Rationally, it would seem to make sense for people to spend half a billion dollars on their house and then fifty million on the boat that they’re on for two weeks a year, right? But it’s gone the other way. People don’t want to live in a hundred-thousand-square-foot house. Optically, it’s weird. But a half-billion-dollar boat, actually, is quite nice.” Staluppi, of Palm Beach Gardens, is content to spend three or four times as much on his yachts as on his homes. Part of the appeal is flexibility. “If you’re on your boat and you don’t like your neighbor, you tell the captain, ‘Let’s go to a different place,’ ” he said. On land, escaping a bad neighbor requires more work: “You got to try and buy him out or make it uncomfortable or something.” The preference for sea-based investment has altered the proportions of taste. Until recently, the Silicon Valley C.E.O. said, “a fifty-metre boat was considered a good-sized boat. Now that would be a little bit embarrassing.” In the past twenty years, the length of the average luxury yacht has grown by a third, to a hundred and sixty feet.

Thorstein Veblen, the economist who published “The Theory of the Leisure Class,” in 1899, argued that the power of “conspicuous consumption” sprang not from artful finery but from sheer needlessness. “In order to be reputable,” he wrote, “it must be wasteful.” In the yachting world, stories circulate about exotic deliveries by helicopter or seaplane: Dom Pérignon, bagels from Zabar’s, sex workers, a rare melon from the island of Hokkaido. The industry excels at selling you things that you didn’t know you needed. When you flip through the yachting press, it’s easy to wonder how you’ve gone this long without a personal submarine, or a cryosauna that “blasts you with cold” down to minus one hundred and ten degrees Celsius, or the full menagerie of “exclusive leathers,” such as eel and stingray.

But these shrines to excess capital exist in a conditional state of visibility: they are meant to be unmistakable to a slender stratum of society—and all but unseen by everyone else. Even before Russia’s invasion of Ukraine, the yachting community was straining to manage its reputation as a gusher of carbon emissions (one well-stocked diesel yacht is estimated to produce as much greenhouse gas as fifteen hundred passenger cars), not to mention the fact that the world of white boats is overwhelmingly white. In a candid aside to a French documentarian, the American yachtsman Bill Duker said, “If the rest of the world learns what it’s like to live on a yacht like this, they’re gonna bring back the guillotine.” The Dutch press recently reported that Jeff Bezos, the founder of Amazon, was building a sailing yacht so tall that the city of Rotterdam might temporarily dismantle a bridge that had survived the Nazis in order to let the boat pass to the open sea. Rotterdammers were not pleased. On Facebook, a local man urged people to “take a box of rotten eggs with you and let’s throw them en masse at Jeff’s superyacht when it sails through.” At least thirteen thousand people expressed interest. Amid the uproar, a deputy mayor announced that the dismantling plan had been abandoned “for the time being.” (Bezos modelled his yacht partly on one owned by his friend Barry Diller, who has hosted him many times. The appreciation eventually extended to personnel, and Bezos hired one of Diller’s captains.)

As social media has heightened the scrutiny of extraordinary wealth, some of the very people who created those platforms have sought less observable places to spend it. But they occasionally indulge in some coded provocation. In 2006, when the venture capitalist Tom Perkins unveiled his boat in Istanbul, most passersby saw it adorned in colorful flags, but people who could read semaphore were able to make out a message: “Rarely does one have the privilege to witness vulgar ostentation displayed on such a scale.” As a longtime owner told me, “If you don’t have some guilt about it, you’re a rat.”

Alex Finley, a former C.I.A. officer who has seen yachts proliferate near her home in Barcelona, has weighed the superyacht era and its discontents in writings and on Twitter, using the hashtag #YachtWatch. “To me, the yachts are not just yachts,” she told me. “In Russia’s case, these are the embodiment of oligarchs helping a dictator destabilize our democracy while utilizing our democracy to their benefit.” But, Finley added, it’s a mistake to think the toxic symbolism applies only to Russia. “The yachts tell a whole story about a Faustian capitalism—this idea that we’re ready to sell democracy for short-term profit,” she said. “They’re registered offshore. They use every loophole that we’ve put in place for illicit money and tax havens. So they play a role in this battle, writ large, between autocracy and democracy.”

After a morning on the docks at the Palm Beach show, I headed to a more secluded marina nearby, which had been set aside for what an attendant called “the really big hardware.” It felt less like a trade show than like a boutique resort, with a swimming pool and a terrace restaurant. Kevin Merrigan, a relaxed Californian with horn-rimmed glasses and a high forehead pinked by the sun, was waiting for me at the stern of Unbridled, a superyacht with a brilliant blue hull that gave it the feel of a personal cruise ship. He invited me to the bridge deck, where a giant screen showed silent video of dolphins at play.

Merrigan is the chairman of the brokerage Northrop & Johnson, which has ridden the tide of growing boats and wealth since 1949. Lounging on a sofa mounded with throw pillows, he projected a nearly postcoital level of contentment. He had recently sold the boat we were on, accepted an offer for a behemoth beside us, and begun negotiating the sale of yet another. “This client owns three big yachts,” he said. “It’s a hobby for him. We’re at a hundred and ninety-one feet now, and last night he said, ‘You know, what do you think about getting a two hundred and fifty?’ ” Merrigan laughed. “And I was, like, ‘Can’t you just have dinner?’ ”

Among yacht owners, there are some unwritten rules of stratification: a Dutch-built boat will hold its value better than an Italian; a custom design will likely get more respect than a “series yacht”; and, if you want to disparage another man’s boat, say that it looks like a wedding cake. But, in the end, nothing says as much about a yacht, or its owner, as the delicate matter of L.O.A.—length over all.

The imperative is not usually length for length’s sake (though the longtime owner told me that at times there is an aspect of “phallic sizing”). “L.O.A.” is a byword for grandeur. In most cases, pleasure yachts are permitted to carry no more than twelve passengers, a rule set by the International Convention for the Safety of Life at Sea, which was conceived after the sinking of the Titanic. But those limits do not apply to crew. “So, you might have anything between twelve and fifty crew looking after those twelve guests,” Edmiston, the broker, said. “It’s a level of service you cannot really contemplate until you’ve been fortunate enough to experience it.”

As yachts have grown more capacious, and the limits on passengers have not, more and more space on board has been devoted to staff and to novelties. The latest fashions include IMAX theatres, hospital equipment that tests for dozens of pathogens, and ski rooms where guests can suit up for a helicopter trip to a mountaintop. The longtime owner, who had returned the previous day from his yacht, told me, “No one today—except for assholes and ridiculous people—lives on land in what you would call a deep and broad luxe life. Yes, people have nice houses and all of that, but it’s unlikely that the ratio of staff to them is what it is on a boat.” After a moment, he added, “Boats are the last place that I think you can get away with it.”

Even among the truly rich, there is a gap between the haves and the have-yachts. One boating guest told me about a conversation with a famous friend who keeps one of the world’s largest yachts. “He said, ‘The boat is the last vestige of what real wealth can do.’ What he meant is, You have a chef, and I have a chef. You have a driver, and I have a driver. You can fly privately, and I fly privately. So, the one place where I can make clear to the world that I am in a different fucking category than you is the boat.”

After Merrigan and I took a tour of Unbridled, he led me out to a waiting tender, staffed by a crew member with an earpiece on a coil. The tender, Merrigan said, would ferry me back to the busy main dock of the Palm Beach show. We bounced across the waves under a pristine sky, and pulled into the marina, where my fellow-gawkers were still trying to talk their way past the greeters. As I walked back into the scrum, Namasté was still there, but it looked smaller than I remembered.

For owners and their guests, a white boat provides a discreet marketplace for the exchange of trust, patronage, and validation. To diagram the precise workings of that trade—the customs and anxieties, strategies and slights—I talked to Brendan O’Shannassy, a veteran captain who is a curator of white-boat lore. Raised in Western Australia, O’Shannassy joined the Navy as a young man, and eventually found his way to skippering some of the world’s biggest yachts. He has worked for Paul Allen, the late co-founder of Microsoft, along with a few other billionaires he declines to name. Now in his early fifties, with patient green eyes and tufts of curly brown hair, O’Shannassy has had a vantage from which to monitor the social traffic. “It’s all gracious, and everyone’s kiss-kiss,” he said. “But there’s a lot going on in the background.”

O’Shannassy once worked for an owner who limited the number of newspapers on board, so that he could watch his guests wait and squirm. “It was a mind game amongst the billionaires. There were six couples, and three newspapers,” he said, adding, “They were ranking themselves constantly.” On some boats, O’Shannassy has found himself playing host in the awkward minutes after guests arrive. “A lot of them are savants, but some are very un-socially aware,” he said. “They need someone to be social and charming for them.” Once everyone settles in, O’Shannassy has learned, there is often a subtle shift, when a mogul or a politician or a pop star starts to loosen up in ways that are rarely possible on land. “Your security is relaxed—they’re not on your hip,” he said. “You’re not worried about paparazzi. So you’ve got all this extra space, both mental and physical.”

O’Shannassy has come to see big boats as a space where powerful “solar systems” converge and combine. “It is implicit in every interaction that their sharing of information will benefit both parties; it is an obsession with billionaires to do favours for each other. A referral, an introduction, an insight—it all matters,” he wrote in “Superyacht Captain,” a new memoir. A guest told O’Shannassy that, after a lavish display of hospitality, he finally understood the business case for buying a boat. “One deal secured on board will pay it all back many times over,” the guest said, “and it is pretty hard to say no after your kids have been hosted so well for a week.”

Take the case of David Geffen, the former music and film executive. He is long retired, but he hosts friends (and potential friends) on the four-hundred-and-fifty-four-foot Rising Sun, which has a double-height cinema, a spa and salon, and a staff of fifty-seven. In 2017, shortly after Barack and Michelle Obama departed the White House, they were photographed on Geffen’s boat in French Polynesia, accompanied by Bruce Springsteen, Oprah Winfrey, Tom Hanks, and Rita Wilson. For Geffen, the boat keeps him connected to the upper echelons of power. There are wealthier Americans, but not many of them have a boat so delectable that it can induce both a Democratic President and the workingman’s crooner to risk the aroma of hypocrisy.

The binding effect pays dividends for guests, too. Once people reach a certain level of fame, they tend to conclude that its greatest advantage is access. Spend a week at sea together, lingering over meals, observing one another floundering on a paddleboard, and you have something of value for years to come. Call to ask for an investment, an introduction, an internship for a wayward nephew, and you’ll at least get the call returned. It’s a mutually reinforcing circle of validation: she’s here, I’m here, we’re here.

But, if you want to get invited back, you are wise to remember your part of the bargain. If you work with movie stars, bring fresh gossip. If you’re on Wall Street, bring an insight or two. Don’t make the transaction obvious, but don’t forget why you’re there. “When I see the guest list,” O’Shannassy wrote, “I am aware, even if not all names are familiar, that all have been chosen for a purpose.”

For O’Shannassy, there is something comforting about the status anxieties of people who have everything. He recalled a visit to the Italian island of Sardinia, where his employer asked him for a tour of the boats nearby. Riding together on a tender, they passed one colossus after another, some twice the size of the owner’s superyacht. Eventually, the man cut the excursion short. “Take me back to my yacht, please,” he said. They motored in silence for a while. “There was a time when my yacht was the most beautiful in the bay,” he said at last. “How do I keep up with this new money?”

The summer season in the Mediterranean cranks up in May, when the really big hardware heads east from Florida and the Caribbean to escape the coming hurricanes, and reconvenes along the coasts of France, Italy, and Spain. At the center is the Principality of Monaco, the sun-washed tax haven that calls itself the “world’s capital of advanced yachting.” In Monaco, which is among the richest countries on earth, superyachts bob in the marina like bath toys.

The nearest hotel room at a price that would not get me fired was an Airbnb over the border with France. But an acquaintance put me on the phone with the Yacht Club de Monaco, a members-only establishment created by the late monarch His Serene Highness Prince Rainier III, whom the Web site describes as “a true visionary in every respect.” The club occasionally rents rooms—“cabins,” as they’re called—to visitors in town on yacht-related matters. Claudia Batthyany, the elegant director of special projects, showed me to my cabin and later explained that the club does not aspire to be a hotel. “We are an association ,” she said. “Otherwise, it becomes”—she gave a gentle wince—“not that exclusive.”

Inside my cabin, I quickly came to understand that I would never be fully satisfied anywhere else again. The space was silent and aromatically upscale, bathed in soft sunlight that swept through a wall of glass overlooking the water. If I was getting a sudden rush of the onboard experience, that was no accident. The clubhouse was designed by the British architect Lord Norman Foster to evoke the opulent indulgence of ocean liners of the interwar years, like the Queen Mary. I found a handwritten welcome note, on embossed club stationery, set alongside an orchid and an assemblage of chocolate truffles: “The whole team remains at your entire disposal to make your stay a wonderful experience. Yours sincerely, Service Members.” I saluted the nameless Service Members, toiling for the comfort of their guests. Looking out at the water, I thought, intrusively, of a line from Santiago, Hemingway’s old man of the sea. “Do not think about sin,” he told himself. “It is much too late for that and there are people who are paid to do it.”

I had been assured that the Service Members would cheerfully bring dinner, as they might on board, but I was eager to see more of my surroundings. I consulted the club’s summer dress code. It called for white trousers and a blue blazer, and it discouraged improvisation: “No pocket handkerchief is to be worn above the top breast-pocket bearing the Club’s coat of arms.” The handkerchief rule seemed navigable, but I did not possess white trousers, so I skirted the lobby and took refuge in the bar. At a table behind me, a man with flushed cheeks and a British accent had a head start. “You’re a shitty negotiator,” he told another man, with a laugh. “Maybe sales is not your game.” A few seats away, an American woman was explaining to a foreign friend how to talk with conservatives: “If they say, ‘The earth is flat,’ you say, ‘Well, I’ve sailed around it, so I’m not so sure about that.’ ”

In the morning, I had an appointment for coffee with Gaëlle Tallarida, the managing director of the Monaco Yacht Show, which the Daily Mail has called the “most shamelessly ostentatious display of yachts in the world.” Tallarida was not born to that milieu; she grew up on the French side of the border, swimming at public beaches with a view of boats sailing from the marina. But she had a knack for highly organized spectacle. While getting a business degree, she worked on a student theatre festival and found it thrilling. Afterward, she got a job in corporate events, and in 1998 she was hired at the yacht show as a trainee.

With this year’s show five months off, Tallarida was already getting calls about what she described as “the most complex part of my work”: deciding which owners get the most desirable spots in the marina. “As you can imagine, they’ve got very big egos,” she said. “On top of that, I’m a woman. They are sometimes arriving and saying”—she pointed into the distance, pantomiming a decree—“ ‘O.K., I want that!  ’ ”

Just about everyone wants his superyacht to be viewed from the side, so that its full splendor is visible. Most harbors, however, have a limited number of berths with a side view; in Monaco, there are only twelve, with prime spots arrayed along a concrete dike across from the club. “We reserve the dike for the biggest yachts,” Tallarida said. But try telling that to a man who blew his fortune on a small superyacht.

Whenever possible, Tallarida presents her verdicts as a matter of safety: the layout must insure that “in case of an emergency, any boat can go out.” If owners insist on preferential placement, she encourages a yachting version of the Golden Rule: “What if, next year, I do that to you? Against you?”

Does that work? I asked. She shrugged. “They say, ‘Eh.’ ” Some would gladly risk being a victim next year in order to be a victor now. In the most awful moment of her career, she said, a man who was unhappy with his berth berated her face to face. “I was in the office, feeling like a little girl, with my daddy shouting at me. I said, ‘O.K., O.K., I’m going to give you the spot.’ ”

Securing just the right place, it must be said, carries value. Back at the yacht club, I was on my terrace, enjoying the latest delivery by the Service Members—an airy French omelette and a glass of preternaturally fresh orange juice. I thought guiltily of my wife, at home with our kids, who had sent a text overnight alerting me to a maintenance issue that she described as “a toilet debacle.”

Then I was distracted by the sight of a man on a yacht in the marina below. He was staring up at me. I went back to my brunch, but, when I looked again, there he was—a middle-aged man, on a mid-tier yacht, juiceless, on a greige banquette, staring up at my perfect terrace. A surprising sensation started in my chest and moved outward like a warm glow: the unmistakable pang of superiority.

That afternoon, I made my way to the bar, to meet the yacht club’s general secretary, Bernard d’Alessandri, for a history lesson. The general secretary was up to code: white trousers, blue blazer, club crest over the heart. He has silver hair, black eyebrows, and a tan that evokes high-end leather. “I was a sailing teacher before this,” he said, and gestured toward the marina. “It was not like this. It was a village.”

Before there were yacht clubs, there were jachten , from the Dutch word for “hunt.” In the seventeenth century, wealthy residents of Amsterdam created fast-moving boats to meet incoming cargo ships before they hit port, in order to check out the merchandise. Soon, the Dutch owners were racing one another, and yachting spread across Europe. After a visit to Holland in 1697, Peter the Great returned to Russia with a zeal for pleasure craft, and he later opened Nevsky Flot, one of the world’s first yacht clubs, in St. Petersburg.

For a while, many of the biggest yachts were symbols of state power. In 1863, the viceroy of Egypt, Isma’il Pasha, ordered up a steel leviathan called El Mahrousa, which was the world’s longest yacht for a remarkable hundred and nineteen years, until the title was claimed by King Fahd of Saudi Arabia. In the United States, Franklin Delano Roosevelt received guests aboard the U.S.S. Potomac, which had a false smokestack containing a hidden elevator, so that the President could move by wheelchair between decks.

But yachts were finding new patrons outside politics. In 1954, the Greek shipping baron Aristotle Onassis bought a Canadian Navy frigate and spent four million dollars turning it into Christina O, which served as his home for months on end—and, at various times, as a home to his companions Maria Callas, Greta Garbo, and Jacqueline Kennedy. Christina O had its flourishes—a Renoir in the master suite, a swimming pool with a mosaic bottom that rose to become a dance floor—but none were more distinctive than the appointments in the bar, which included whales’ teeth carved into pornographic scenes from the Odyssey and stools upholstered in whale foreskins.

For Onassis, the extraordinary investments in Christina O were part of an epic tit for tat with his archrival, Stavros Niarchos, a fellow shipping tycoon, which was so entrenched that it continued even after Onassis’s death, in 1975. Six years later, Niarchos launched a yacht fifty-five feet longer than Christina O: Atlantis II, which featured a swimming pool on a gyroscope so that the water would not slosh in heavy seas. Atlantis II, now moored in Monaco, sat before the general secretary and me as we talked.

Over the years, d’Alessandri had watched waves of new buyers arrive from one industry after another. “First, it was the oil. After, it was the telecommunications. Now, they are making money with crypto,” he said. “And, each time, it’s another size of the boat, another design.” What began as symbols of state power had come to represent more diffuse aristocracies—the fortunes built on carbon, capital, and data that migrated across borders. As early as 1908, the English writer G. K. Chesterton wondered what the big boats foretold of a nation’s fabric. “The poor man really has a stake in the country,” he wrote. “The rich man hasn’t; he can go away to New Guinea in a yacht.”

Each iteration of fortune left its imprint on the industry. Sheikhs, who tend to cruise in the world’s hottest places, wanted baroque indoor spaces and were uninterested in sundecks. Silicon Valley favored acres of beige, more Sonoma than Saudi. And buyers from Eastern Europe became so abundant that shipyards perfected the onboard banya , a traditional Russian sauna stocked with birch and eucalyptus. The collapse of the Soviet Union, in 1991, had minted a generation of new billionaires, whose approach to money inspired a popular Russian joke: One oligarch brags to another, “Look at this new tie. It cost me two hundred bucks!” To which the other replies, “You moron. You could’ve bought the same one for a thousand!”

In 1998, around the time that the Russian economy imploded, the young tycoon Roman Abramovich reportedly bought a secondhand yacht called Sussurro—Italian for “whisper”—which had been so carefully engineered for speed that each individual screw was weighed before installation. Soon, Russians were competing to own the costliest ships. “If the most expensive yacht in the world was small, they would still want it,” Maria Pevchikh, a Russian investigator who helps lead the Anti-Corruption Foundation, told me.

In 2008, a thirty-six-year-old industrialist named Andrey Melnichenko spent some three hundred million dollars on Motor Yacht A, a radical experiment conceived by the French designer Philippe Starck, with a dagger-shaped hull and a bulbous tower topped by a master bedroom set on a turntable that pivots to capture the best view. The shape was ridiculed as “a giant finger pointing at you” and “one of the most hideous vessels ever to sail,” but it marked a new prominence for Russian money at sea. Today, post-Soviet élites are thought to own a fifth of the world’s gigayachts.

Even Putin has signalled his appreciation, being photographed on yachts in the Black Sea resort of Sochi. In an explosive report in 2012, Boris Nemtsov, a former Deputy Prime Minister, accused Putin of amassing a storehouse of outrageous luxuries, including four yachts, twenty homes, and dozens of private aircraft. Less than three years later, Nemtsov was fatally shot while crossing a bridge near the Kremlin. The Russian government, which officially reports that Putin collects a salary of about a hundred and forty thousand dollars and possesses a modest apartment in Moscow, denied any involvement.

Many of the largest, most flamboyant gigayachts are designed in Monaco, at a sleek waterfront studio occupied by the naval architect Espen Øino. At sixty, Øino has a boyish mop and the mild countenance of a country parson. He grew up in a small town in Norway, the heir to a humble maritime tradition. “My forefathers built wooden rowing boats for four generations,” he told me. In the late eighties, he was designing sailboats when his firm won a commission to design a megayacht for Emilio Azcárraga, the autocratic Mexican who built Televisa into the world’s largest Spanish-language broadcaster. Azcárraga was nicknamed El Tigre, for his streak of white hair and his comfort with confrontation; he kept a chair in his office that was unusually high off the ground, so that visitors’ feet dangled like children’s.

In early meetings, Øino recalled, Azcárraga grew frustrated that the ideas were not dazzling enough. “You must understand,” he said. “I don’t go to port very often with my boats, but, when I do, I want my presence to be felt.”

The final design was suitably arresting; after the boat was completed, Øino had no shortage of commissions. In 1998, he was approached by Paul Allen, of Microsoft, to build a yacht that opened the way for the Goliaths that followed. The result, called Octopus, was so large that it contained a submarine marina in its belly, as well as a helicopter hangar that could be converted into an outdoor performance space. Mick Jagger and Bono played on occasion. I asked Øino why owners obsessed with secrecy seem determined to build the world’s most conspicuous machines. He compared it to a luxury car with tinted windows. “People can’t see you, but you’re still in that expensive, impressive thing,” he said. “We all need to feel that we’re important in one way or another.”

In recent months, Øino has seen some of his creations detained by governments in the sanctions campaign. When we spoke, he condemned the news coverage. “Yacht equals Russian equals evil equals money,” he said disdainfully. “It’s a bit tragic, because the yachts have become synonymous with the bad guys in a James Bond movie.”

What about Scheherazade, the giant yacht that U.S. officials have alleged is held by a Russian businessman for Putin’s use? Øino, who designed the ship, rejected the idea. “We have designed two yachts for heads of state, and I can tell you that they’re completely different, in terms of the layout and everything, from Scheherazade.” He meant that the details said plutocrat, not autocrat.

For the time being, Scheherazade and other Øino creations under detention across Europe have entered a strange legal purgatory. As lawyers for the owners battle to keep the ships from being permanently confiscated, local governments are duty-bound to maintain them until a resolution is reached. In a comment recorded by a hot mike in June, Jake Sullivan, the U.S. national-security adviser, marvelled that “people are basically being paid to maintain Russian superyachts on behalf of the United States government.” (It usually costs about ten per cent of a yacht’s construction price to keep it afloat each year. In May, officials in Fiji complained that a detained yacht was costing them more than a hundred and seventy-one thousand dollars a day.)

Stranger still are the Russian yachts on the lam. Among them is Melnichenko’s much maligned Motor Yacht A. On March 9th, Melnichenko was sanctioned by the European Union, and although he denied having close ties to Russia’s leadership, Italy seized one of his yachts—a six-hundred-million-dollar sailboat. But Motor Yacht A slipped away before anyone could grab it. Then the boat turned off the transponder required by international maritime rules, so that its location could no longer be tracked. The last ping was somewhere near the Maldives, before it went dark on the high seas.

The very largest yachts come from Dutch and German shipyards, which have experience in naval vessels, known as “gray boats.” But the majority of superyachts are built in Italy, partly because owners prefer to visit the Mediterranean during construction. (A British designer advises those who are weighing their choices to take the geography seriously, “unless you like schnitzel.”)

In the past twenty-two years, nobody has built more superyachts than the Vitellis, an Italian family whose patriarch, Paolo Vitelli, got his start in the seventies, manufacturing smaller boats near a lake in the mountains. By 1985, their company, Azimut, had grown large enough to buy the Benetti shipyards, which had been building enormous yachts since the nineteenth century. Today, the combined company builds its largest boats near the sea, but the family still works in the hill town of Avigliana, where a medieval monastery towers above a valley. When I visited in April, Giovanna Vitelli, the vice-president and the founder’s daughter, led me through the experience of customizing a yacht.

“We’re using more and more virtual reality,” she said, and a staffer fitted me with a headset. When the screen blinked on, I was inside a 3-D mockup of a yacht that is not yet on the market. I wandered around my suite for a while, checking out swivel chairs, a modish sideboard, blond wood panelling on the walls. It was convincing enough that I collided with a real-life desk.

After we finished with the headset, it was time to pick the décor. The industry encourages an introspective evaluation: What do you want your yacht to say about you? I was handed a vibrant selection of wood, marble, leather, and carpet. The choices felt suddenly grave. Was I cut out for the chiselled look of Cream Vesuvio, or should I accept that I’m a gray Cardoso Stone? For carpets, I liked the idea of Chablis Corn White—Paris and the prairie, together at last. But, for extra seating, was it worth splurging for the V.I.P. Vanity Pouf?

Some designs revolve around a single piece of art. The most expensive painting ever sold, Leonardo da Vinci’s “Salvator Mundi,” reportedly was hung on the Saudi crown prince Mohammed bin Salman’s four-hundred-and-thirty-nine-foot yacht Serene, after the Louvre rejected a Saudi demand that it hang next to the “Mona Lisa.” Art conservators blanched at the risks that excess humidity and fluctuating temperatures could pose to a five-hundred-year-old painting. Often, collectors who want to display masterpieces at sea commission replicas.

If you’ve just put half a billion dollars into a boat, you may have qualms about the truism that material things bring less happiness than experiences do. But this, too, can be finessed. Andrew Grant Super, a co-founder of the “experiential yachting” firm Berkeley Rand, told me that he served a uniquely overstimulated clientele: “We call them the bored billionaires.” He outlined a few of his experience products. “We can plot half of the Pacific Ocean with coördinates, to map out the Battle of Midway,” he said. “We re-create the full-blown battles of the giant ships from America and Japan. The kids have haptic guns and haptic vests. We put the smell of cordite and cannon fire on board, pumping around them.” For those who aren’t soothed by the scent of cordite, Super offered an alternative. “We fly 3-D-printed, architectural freestanding restaurants into the middle of the Maldives, on a sand shelf that can only last another eight hours before it disappears.”

For some, the thrill lies in the engineering. Staluppi, born in Brooklyn, was an auto mechanic who had no experience with the sea until his boss asked him to soup up a boat. “I took the six-cylinder engines out and put V-8 engines in,” he recalled. Once he started commissioning boats of his own, he built scale models to conduct tests in water tanks. “I knew I could never have the biggest boat in the world, so I says, ‘You know what? I want to build the fastest yacht in the world.’ The Aga Khan had the fastest yacht, and we just blew right by him.”

In Italy, after decking out my notional yacht, I headed south along the coast, to Tuscan shipyards that have evolved with each turn in the country’s history. Close to the Carrara quarries, which yielded the marble that Michelangelo turned into David, ships were constructed in the nineteenth century, to transport giant blocks of stone. Down the coast, the yards in Livorno made warships under the Fascists, until they were bombed by the Allies. Later, they began making and refitting luxury yachts. Inside the front gate of a Benetti shipyard in Livorno, a set of models depicted the firm’s famous modern creations. Most notable was the megayacht Nabila, built in 1980 for the high-living arms dealer Adnan Khashoggi, with a hundred rooms and a disco that was the site of legendary decadence. (Khashoggi’s budget for prostitution was so extravagant that a French prosecutor later estimated he paid at least half a million dollars to a single madam in a single year.)

In 1987, shortly before Khashoggi was indicted for mail fraud and obstruction of justice (he was eventually acquitted), the yacht was sold to the real-estate developer Donald Trump, who renamed it Trump Princess. Trump was never comfortable on a boat—“Couldn’t get off fast enough,” he once said—but he liked to impress people with his yacht’s splendor. In 1991, while three billion dollars in debt, Trump ceded the vessel to creditors. Later in life, though, he discovered enthusiastic support among what he called “our beautiful boaters,” and he came to see quality watercraft as a mark of virtue—a way of beating the so-called élite. “We got better houses, apartments, we got nicer boats, we’re smarter than they are,” he told a crowd in Fargo, North Dakota. “Let’s call ourselves, from now on, the super-élite.”

In the age of oversharing, yachts are a final sanctum of secrecy, even for some of the world’s most inveterate talkers. Oprah, after returning from her sojourn with the Obamas, rebuffed questions from reporters. “What happens on the boat stays on the boat,” she said. “We talked, and everybody else did a lot of paddleboarding.”

I interviewed six American superyacht owners at length, and almost all insisted on anonymity or held forth with stupefying blandness. “Great family time,” one said. Another confessed, “It’s really hard to talk about it without being ridiculed.” None needed to be reminded of David Geffen’s misadventure during the early weeks of the pandemic, when he Instagrammed a photo of his yacht in the Grenadines and posted that he was “avoiding the virus” and “hoping everybody is staying safe.” It drew thousands of responses, many marked #EatTheRich, others summoning a range of nautical menaces: “At least the pirates have his location now.”

The yachts extend a tradition of seclusion as the ultimate luxury. The Medici, in sixteenth-century Florence, built elevated passageways, or corridoi , high over the city to escape what a scholar called the “clash of classes, the randomness, the smells and confusions” of pedestrian life below. More recently, owners of prized town houses in London have headed in the other direction, building three-story basements so vast that their construction can require mining engineers—a trend that researchers in the United Kingdom named “luxified troglodytism.”

Water conveys a particular autonomy, whether it’s ringing the foot of a castle or separating a private island from the mainland. Peter Thiel, the billionaire venture capitalist, gave startup funding to the Seasteading Institute, a nonprofit group co-founded by Milton Friedman’s grandson, which seeks to create floating mini-states—an endeavor that Thiel considered part of his libertarian project to “escape from politics in all its forms.” Until that fantasy is realized, a white boat can provide a start. A recent feature in Boat International , a glossy trade magazine, noted that the new hundred-and-twenty-five-million-dollar megayacht Victorious has four generators and “six months’ autonomy” at sea. The builder, Vural Ak, explained, “In case of emergency, god forbid, you can live in open water without going to shore and keep your food stored, make your water from the sea.”

Much of the time, superyachts dwell beyond the reach of ordinary law enforcement. They cruise in international waters, and, when they dock, local cops tend to give them a wide berth; the boats often have private security, and their owners may well be friends with the Prime Minister. According to leaked documents known as the Paradise Papers, handlers proposed that the Saudi crown prince take delivery of a four-hundred-and-twenty-million-dollar yacht in “international waters in the western Mediterranean,” where the sale could avoid taxes.

Builders and designers rarely advertise beyond the trade press, and they scrupulously avoid leaks. At Lürssen, a German shipbuilding firm, projects are described internally strictly by reference number and code name. “We are not in the business for the glory,” Peter Lürssen, the C.E.O., told a reporter. The closest thing to an encyclopedia of yacht ownership is a site called SuperYachtFan, run by a longtime researcher who identifies himself only as Peter, with a disclaimer that he relies partly on “rumors” but makes efforts to confirm them. In an e-mail, he told me that he studies shell companies, navigation routes, paparazzi photos, and local media in various languages to maintain a database with more than thirteen hundred supposed owners. Some ask him to remove their names, but he thinks that members of that economic echelon should regard the attention as a “fact of life.”

To work in the industry, staff must adhere to the culture of secrecy, often enforced by N.D.A.s. On one yacht, O’Shannassy, the captain, learned to communicate in code with the helicopter pilot who regularly flew the owner from Switzerland to the Mediterranean. Before takeoff, the pilot would call with a cryptic report on whether the party included the presence of a Pomeranian. If any guest happened to overhear, their cover story was that a customs declaration required details about pets. In fact, the lapdog was a constant companion of the owner’s wife; if the Pomeranian was in the helicopter, so was she. “If no dog was in the helicopter,” O’Shannassy recalled, the owner was bringing “somebody else.” It was the captain’s duty to rebroadcast the news across the yacht’s internal radio: “Helicopter launched, no dog, I repeat no dog today”—the signal for the crew to ready the main cabin for the mistress, instead of the wife. They swapped out dresses, family photos, bathroom supplies, favored drinks in the fridge. On one occasion, the code got garbled, and the helicopter landed with an unanticipated Pomeranian. Afterward, the owner summoned O’Shannassy and said, “Brendan, I hope you never have such a situation, but if you do I recommend making sure the correct dresses are hanging when your wife comes into your room.”

In the hierarchy on board a yacht, the most delicate duties tend to trickle down to the least powerful. Yacht crew—yachties, as they’re known—trade manual labor and obedience for cash and adventure. On a well-staffed boat, the “interior team” operates at a forensic level of detail: they’ll use Q-tips to polish the rim of your toilet, tweezers to lift your fried-chicken crumbs from the teak, a toothbrush to clean the treads of your staircase.

Many are English-speaking twentysomethings, who find work by doing the “dock walk,” passing out résumés at marinas. The deals can be alluring: thirty-five hundred dollars a month for deckhands; fifty thousand dollars in tips for a decent summer in the Med. For captains, the size of the boat matters—they tend to earn about a thousand dollars per foot per year.

Yachties are an attractive lot, a community of the toned and chipper, which does not happen by chance; their résumés circulate with head shots. Before Andy Cohen was a talk-show host, he was the head of production and development at Bravo, where he green-lighted a reality show about a yacht crew: “It’s a total pressure cooker, and they’re actually living together while they’re working. Oh, and by the way, half of them are having sex with each other. What’s not going to be a hit about that?” The result, the gleefully seamy “Below Deck,” has been among the network’s top-rated shows for nearly a decade.

To stay in the business, captains and crew must absorb varying degrees of petty tyranny. An owner once gave O’Shannassy “a verbal beating” for failing to negotiate a lower price on champagne flutes etched with the yacht’s logo. In such moments, the captain responds with a deferential mantra: “There is no excuse. Your instruction was clear. I can only endeavor to make it better for next time.”

The job comes with perilously little protection. A big yacht is effectively a corporation with a rigid hierarchy and no H.R. department. In recent years, the industry has fielded increasingly outspoken complaints about sexual abuse, toxic impunity, and a disregard for mental health. A 2018 survey by the International Seafarers’ Welfare and Assistance Network found that more than half of the women who work as yacht crew had experienced harassment, discrimination, or bullying on board. More than four-fifths of the men and women surveyed reported low morale.

Karine Rayson worked on yachts for four years, rising to the position of “chief stew,” or stewardess. Eventually, she found herself “thinking of business ideas while vacuuming,” and tiring of the culture of entitlement. She recalled an episode in the Maldives when “a guest took a Jet Ski and smashed into a marine reserve. That damaged the coral, and broke his Jet Ski, so he had to clamber over the rocks and find his way to the shore. It was a private hotel, and the security got him and said, ‘Look, there’s a large fine, you have to pay.’ He said, ‘Don’t worry, the boat will pay for it.’ ” Rayson went back to school and became a psychotherapist. After a period of counselling inmates in maximum-security prisons, she now works with yacht crew, who meet with her online from around the world.

Rayson’s clients report a range of scenarios beyond the boundaries of ordinary employment: guests who did so much cocaine that they had no appetite for a chef’s meals; armed men who raided a boat offshore and threatened to take crew members to another country; owners who vowed that if a young stew told anyone about abuse she suffered on board they’d call in the Mafia and “skin me alive.” Bound by N.D.A.s, crew at sea have little recourse.“We were paranoid that our e-mails were being reviewed, or we were getting bugged,” Rayson said.

She runs an “exit strategy” course to help crew find jobs when they’re back on land. The adjustment isn’t easy, she said: “You’re getting paid good money to clean a toilet. So, when you take your C.V. to land-based employers, they might question your skill set.” Despite the stresses of yachting work, Rayson said, “a lot of them struggle with integration into land-based life, because they have all their bills paid for them, so they don’t pay for food. They don’t pay for rent. It’s a huge shock.”

It doesn’t take long at sea to learn that nothing is too rich to rust. The ocean air tarnishes metal ten times as fast as on land; saltwater infiltrates from below. Left untouched, a single corroding ulcer will puncture tanks, seize a motor, even collapse a hull. There are tricks, of course—shield sensitive parts with resin, have your staff buff away blemishes—but you can insulate a machine from its surroundings for only so long.

Hang around the superyacht world for a while and you see the metaphor everywhere. Four months after Putin’s invasion of Ukraine, the war had eaten a hole in his myths of competence. The Western campaign to isolate him and his oligarchs was proving more durable than most had predicted. Even if the seizures of yachts were mired in legal disputes, Finley, the former C.I.A. officer, saw them as a vital “pressure point.” She said, “The oligarchs supported Putin because he provided stable authoritarianism, and he can no longer guarantee that stability. And that’s when you start to have cracks.”

For all its profits from Russian clients, the yachting industry was unsentimental. Brokers stripped photos of Russian yachts from their Web sites; Lürssen, the German builder, sent questionnaires to clients asking who, exactly, they were. Business was roaring, and, if some Russians were cast out of the have-yachts, other buyers would replace them.

On a cloudless morning in Viareggio, a Tuscan town that builds almost a fifth of the world’s superyachts, a family of first-time owners from Tel Aviv made the final, fraught preparations. Down by the docks, their new boat was suspended above the water on slings, ready to be lowered for its official launch. The scene was set for a ceremony: white flags in the wind, a plexiglass lectern. It felt like the obverse of the dockside scrum at the Palm Beach show; by this point in the buying process, nobody was getting vetted through binoculars. Waitresses handed out glasses of wine. The yacht venders were in suits, but the new owners were in upscale Euro casual: untucked linen, tight jeans, twelve-hundred-dollar Prada sneakers. The family declined to speak to me (and the company declined to identify them). They had come asking for a smaller boat, but the sales staff had talked them up to a hundred and eleven feet. The Victorians would have been impressed.

The C.E.O. of Azimut Benetti, Marco Valle, was in a buoyant mood. “Sun. Breeze. Perfect day to launch a boat, right?” he told the owners. He applauded them for taking the “first step up the big staircase.” The selling of the next vessel had already begun.

Hanging aloft, their yacht looked like an artifact in the making; it was easy to imagine a future civilization sifting the sediment and discovering that an earlier society had engaged in a building spree of sumptuous arks, with accommodations for dozens of servants but only a few lucky passengers, plus the occasional Pomeranian.

We approached the hull, where a bottle of spumante hung from a ribbon in Italian colors. Two members of the family pulled back the bottle and slung it against the yacht. It bounced off and failed to shatter. “Oh, that’s bad luck,” a woman murmured beside me. Tales of that unhappy omen abound. In one memorable case, the bottle failed to break on Zaca, a schooner that belonged to Errol Flynn. In the years that followed, the crew mutinied and the boat sank; after being re-floated, it became the setting for Flynn’s descent into cocaine, alcohol, orgies, and drug smuggling. When Flynn died, new owners brought in an archdeacon for an onboard exorcism.

In the present case, the bottle broke on the second hit, and confetti rained down. As the family crowded around their yacht for photos, I asked Valle, the C.E.O., about the shortage of new boats. “Twenty-six years I’ve been in the nautical business—never been like this,” he said. He couldn’t hire enough welders and carpenters. “I don’t know for how long it will last, but we’ll try to get the profits right now.”

Whatever comes, the white-boat world is preparing to insure future profits, too. In recent years, big builders and brokers have sponsored a rebranding campaign dedicated to “improving the perception of superyachting.” (Among its recommendations: fewer ads with girls in bikinis and high heels.) The goal is partly to defuse #EatTheRich, but mostly it is to soothe skittish buyers. Even the dramatic increase in yacht ownership has not kept up with forecasts of the global growth in billionaires—a disparity that represents the “one dark cloud we can see on the horizon,” as Øino, the naval architect, said during an industry talk in Norway. He warned his colleagues that they needed to reach those “potential yacht owners who, for some reason, have decided not to step up to the plate.”

But, to a certain kind of yacht buyer, even aggressive scrutiny can feel like an advertisement—a reminder that, with enough access and cash, you can ride out almost any storm. In April, weeks after the fugitive Motor Yacht A went silent, it was rediscovered in physical form, buffed to a shine and moored along a creek in the United Arab Emirates. The owner, Melnichenko, had been sanctioned by the E.U., Switzerland, Australia, and the U.K. Yet the Emirates had rejected requests to join those sanctions and had become a favored wartime haven for Russian money. Motor Yacht A was once again arrayed in almost plain sight, like semaphore flags in the wind. ♦

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The Palm Beach International Boat Show (PBIBS) is right around the corner and according to exclusive data from BOATPro , this year is shaping up to be one of the biggest showcases yet. More than 120 superyachts have confirmed their attendance at Palm Harbor Marina this week (21 to 24 March), with several last-minute entries expected in the lead-up to the show. In either case, visitors can expect a more extensive lineup than in 2023, when the industry was hit with supply shortages in the face of heightened demand.

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Surveys predict that, 10 years from now, the average age of a superyacht buyer will be 35 to 40.

Kevin koenig, kevin koenig's most recent stories, ‘people don’t want to be inside’: how the outdoors became yachtmakers’ most coveted design element.

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Ten years from now, Millennials will have taken over the superyacht world. At least that’s the forecast by several experts who are seeing ages of yacht buyers trending younger.

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That trend is expected to continue, according to research from Italian yacht builder Rossinavi and the University of Monaco, with the average age of superyacht buyers decreasing 10 to 15 years over the next decade. That could make Millennials the primary buyers of superyachts.

The topic of younger buyers is a constant discussion in shipyard boardrooms and among designers looking to modify their designs to this changing market. It was also one of the topics at the recent Yachtmaster event in Key West, hosted by Benetti Yachts. Benetti sponsors Yachtmaster events twice a year (the European edition was in Budapest last month) to brief captains and other professionals on new trends in the superyacht industry.

“We have been doing this event for 24 years now,” Benetti Americas manager Nick Bischoff told Robb Report . “The intent is to continue to build relationships with influencers of our current and prospective owners. In the beginning that meant mostly captains, but it’s expanded to include surveyors and owners’ reps, too.” The ultimate goal, says Bischoff, is for participants not only to network, but “put their heads together to create an ever-improving onboard experience both for owners and crew.”

Many seminars focused on the concept of onboard lifestyle, which most brokers and shipyards see as a primary driver for purchasing a yacht. Benetti’s head of product, Sebastiano Vida, also spoke about how lifestyle influences new designs in the yachts.

But Jason Dunbar, a broker and appraisal surveyor with Vessel Value Survey, recommended tough love to the brokers. His discussion about managing expectations for newbie owners included advice about being “realistic” with owners who are flush with cash, but might be new to the superyacht world. If an owner wants a brand-new 120-footer with a crew of six, but has a budget of $8 million, the broker is the one who needs to break the bad news. “A good broker has to tell people ‘Listen, that’s just not going to happen,’” says Dunbar. “That will save a lot of headaches down the road and will hopefully keep a client in boating for the long term.”

A new buyer is often coming off a one-week charter that was magical: perfect weather, a well-oiled boat, and a crew looking forward to a little R&R after hustling all week for the charter guests. “It’s relatively easy to make things work like that one week at a time,” says Dunbar. “But a new owner who wants to use their boat for 10, 15, or 30 weeks, that’s a totally different thing. You may have to tell them they need to hire two crews and rotate them—which will be news to them.” He said that overworking the crew will “burn through humans.” The crew will be miserable, he says, which will make the boat not live up to the owners’ expectations. “The next thing you know these new owners will be long gone from yachting.”

Fraser Yachts CEO Anders Kurtén sees the new buyers as a boon for design creativity in an old-school industry. “It starts with a piece of paper,” he says. “We sit down and start designing these boats for younger clients and we see similar trends. Basically they all want to live their shore-based lives on a yacht.”

The segmented and often claustrophobic interiors of many current superyacht designs, says Dirand, just doesn’t float with the new generation. “Young owners’ preferences are honed by hospitality and a knowledge of architectural trends,” he says.

Because of that, wellness centers have become focal points of design. As moguls like Jeff Bezos and Mark Zuckerberg have made clear as of late, having six-pack abs in middle age is the new Lamborghini. These new owners expect their boats to be designed with beach clubs with gyms, saunas, massage areas that allow owners and guests to work out or relax, amidst warm sun rays and luscious sea breezes.

Kurtén also pointed to green tech as key for the new generation of clients. “We’ve hit a point where a 150-foot sailboat can go across the Atlantic without burning a drop of fuel. And motoryachts can function on battery-only mode, at least when they are close to port,” he says. “That’s important to these new clients—they want to be green. A few years ago that was something you said at a cocktail party, but today it’s a reality for a lot of buyers.”

Peter Selivanoff, senior yacht service manager for Fraser, also spoke about how owners are seeking highly specialized crews who can perform multiple functions across the yacht.

Navigating these new realities is an important part for the industry to future-proof itself in the competitive realm of ultra-luxury products. This is a place where youth may not spring eternal but, at least for now, it reigns supreme.

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A look at the most expensive superyachts at the Palm Beach yacht show and their insane features, from basketball courts on deck to ice baths and saunas

• The Palm Beach International Boat Show kicks off later this week.
• Eight megayachts are expected to be on display for would-be buyers and charter customers.
• These are the show's biggest yachts — and how many millions of dollars they are going for.

The Palm Beach International Boat Show — the yacht world's flashiest event stateside — is returning this year with over 800 boats for both deep-pocked potential owners and window shoppers to peruse.

While it's impossible to know what exactly will be on display until the show begins on Thursday, it's expected that eight megayachts — generally defined as ships over 60 meters long — will be docked at the show and at nearby marinas like the Rybovich Marina in the ritzy Florida town.

Some of these are for sale at eye-popping prices, but others are available to if in case you fancy living like a billionaire for a week or two this summer (and if you have six figures to spare on a vacation).

These are the eight biggest yachts that will be at the Palm Beach International Boat Show and nearby marinas, in size order.

Nero: 90.1 meters

Price: From $497,000 a week (charter)

Standout features: Pizza ovens, beauty salon, massage room, resistance pool

Reportedly owned by Irish billionaire Denis O'Brien, Nero is modeled after J.P. Morgan's 1930s ship , and was built in 2007 and updated in 2021.

She now boasts a gym on her sundeck with multiple cardio machines and a beauty salon, and has an on-board beautician for manicure, pedicure, hair, and massage needs. There's also an upgraded movie theater, two new pizza ovens, and both a pool and a jacuzzi.

For those who want to go overboard, she has more than a dozen toys, including a waterslide, Jet Ski, and flyboard.

Victorious: 85 meters

Price: From $876,600 a week in the summer and $950,000 a week in the winter

Standout features: Hammam (Turkish bath), wine cellar, wood-burning fireplace, children's playroom

Victorious brings a party vibe to the yacht show. With a beach club on board, a wine cellar, a cigar clubroom , multiple bars, and a lounge with a piano, the vessel is made for entertaining. Plus, there's a playroom and movie theater to entertain the kids.

For tamer charter clients, Victorious has a suite of wellness features such as a gym, massage room, beauty salon and hammam, or Turkish bath — perhaps a custom request of her owner, Turkish businessman Vural Ak.

She also boasts a treasure trove of water toys, including Jet Skis, jetsurfs, inflatable kayaks, and scuba equipment.

Casino Royale: 72 meters

Special Features: Infinity pool, helipad, private jacuzzi

Purchased and refitted by car dealer magnate John Staluppi last year, Casino Royale is the latest of his James Bond-inspired yachts (he's also owned an Octopussy and a Skyfall, among others).

Casino Royale has a helipad that turns into a dancefloor, an infinity pool, and a wellness center with a gym and sauna. The owner's cabin has its own deck, which features a private bar and jacuzzi.

However, the boat's price isn't listed, and while she's not necessarily officially for sale, that might change depending on who's prepared to buy, Mr. Bond.

Talisman C: 70.6 meters

Price: $60 million (or from $567,000 a week to charter)

Special features: Massage and beauty room, private library

Likely the largest yacht for sale (not just charter) at the show, the Talisman C is a 2011 six-bedroom boat. The owner's cabin comes with an en suite bathroom, dressing room, private library, and crystal chandeliers.

Amenities include a gym, a beauty room, oversized jacuzzi, and a fully equipped bar. Her crew of 19 includes a trained masseuse, and the toy room comes equipped with a wakeboard, eFoil , and WaveRunners.

Joy: 70 meters

Price: From $650,000 a week

Special features: Disco club, basketball court, onboard fitness instructor

Superyacht Joy testifies to the fact that owners want as many on-board experiences as they can get.

There's an expansive suite of fitness features, including a basketball court (don't shoot that hoop too hard!), a personal trainer on staff, boxing equipment, and a handful of machines. For post-workout winddowns, there's a spa with a steam room and onboard masseuse. And for entertainment, there's both an outdoor and indoor cinema, and a disco club.

Triumph: 65.4 meters

Price: From $707,600 a week in the summer and $650,000 a week in the winter

Special features: Sauna, helipad, banana boat

This 2021 superyacht is named after Triumph motorcycles — a reported favorite of her rumored owner, British businessman Chris Dawson — and even has one on display as an art piece in the upper deck's lounge. The primary suite is 1,400 square feet and has its own study , and there's a sauna, an indoor-outdoor gym, a helipad, and a massage room spread among her six decks.

She boasts an "armada of water toys," including two kinds of Jet Skis, electric water bikes, and a banana boat.

Seanna: 64.5 meters

Price: $54,000,000 (or from $462,000 a week to charter)

Special features: marble foyer, movie room, sundeck pool

The recently refurbished Seanna is available for sale and charter.

Her indoor-outdoor gym is on sea level so that passengers can take a dip after a session with the onboard personal trainer. There's also a sundeck pool, a helipad, a two-room massage facility, and, for the more cerebral guests, a library with an electric fireplace.

There are a number of toys on board, including a popular water trampoline and two WaveRunners.

Come Together: 60 meters

Price: $65,000,000

Special Features: DJ and videographer on board, ice bath, sauna

Next-to-new yacht Come Together is looking for a new owner after doing charters during the 2023 season.

The Beatles' influence is evident beyond the yacht's name, with guitars dotting the sky lounge and a crewmember who doubles as a DJ. There's also an outdoor cinema and bar for entertainment and an ice bath and sauna for the day after the party. The owner's suite has a private study and lounge, and each guest cabin has its own ensuite.

The sale includes a number of toys, like Jet Skis, kayaks, and Seabobs.

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The superyacht world is speculating that Mark Zuckerberg just bought this 118-meter boat

• The 118-meter superyacht Launchpad made her maiden voyage last week.
• The yacht world is speculating that her owner is Meta CEO Mark Zuckerberg.
• Here's what we know about the luxury vessel.

In the world of superyachts , privacy is the most valuable asset. It can be next to impossible to discern the details of a superyacht transaction — and that's particularly true if the vessel in question is worth nine figures.

Yet some in the boat blogging world are speculating that Meta CEO Mark Zuckerberg is the new owner of Launchpad, a megayacht currently moored in Fort Lauderdale, Florida after she made her maiden voyage from Gibraltar to St Maarten last week. Launchpad clocks in at 118 meters long, about nine meters shorter than Jeff Bezos' superyacht Koru .

The transaction could not be confirmed, with yacht world insiders declining to share what they know and representatives for Zuckerberg not responding to a request for comment from Business Insider. In the past, reports about Zuckerberg owning superyacht Ulysses have proven false.

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"It is Feadship's standard policy to never divulge any information about our yachts with reference to ownership, costs, or delivery, etc," Feadship, the ship's builder, wrote to BI. "Whether it is an 18-meter Feadship from the 1960s or a 118-meter Feadship from the 21st century, we do not share private information."

But Zuckerberg's name has been connected to Launchpad for a few months now, beginning in December when reports swirled that he visited Feadship's shipyard in the Netherlands.

Then, earlier in March, yachting bloggers like eSysman SuperYachts and Autoevolution started speculating that he officially snagged the boat, originally built for a sanctioned Russian businessman, at a $300 million price tag. (While that's a seemingly huge amount, it's still less than 0.2% of Zuckerberg's $177 billion net worth.)

Another clue that might point to US ownership is that the yacht bears the flag of the Marshall Islands, a US territory and commonplace for American buyers to register their ships, according to public marine tracking.

If Zuckerberg were to have bought Launchpad, he would join a cohort of superyacht-owning tech billionaires . Along with Bezos, the likes of Oracle cofounder Larry Ellison and Google cofounders Sergey Brin and Larry Page have purchased impressive boats with even more impressive amenities.

SuperYacht Times , an industry publication and intelligence platform, has some of the best images of the yacht. Photos show a swimming pool on her main deck and a large helipad.

While less is known of the interior, a vessel of her size can likely sleep dozens of guests and crew and may have amenities like an expansive gym where Zuckerberg could practice his jiu-jitsu or a spa with a massage area. We suspect there's also space for plenty of toys — which could include his viral hydrofoil foil .

Do you have any details about Launchpad or any other superyachts? Email reporter Madeline Berg at [email protected].

Watch: Walmart heiress' superyacht vandalized by activists in Ibiza

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U.S. Eyes $156 Million Yacht in Dubai Linked to a Russian Oligarch

The U.S. Justice Department is taking steps to seize the Madame Gu, a 324-foot luxury yacht, but it will be diplomatically thorny.

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By Kate Kelly ,  Michael Forsythe and Julian E. Barnes

DUBAI, United Arab Emirates — On a clear morning in late October, the jewel-blue hull of the Madame Gu, one of the world’s most luxurious superyachts, gleamed, its aluminum rails shimmering in the sun. Workers on the pier said they had recently seen people painting, cleaning and generally keeping the ship with its helipad and six guest staterooms in pristine condition.

In past years, such a scene would not have been noteworthy. Many superyachts come and go from Dubai’s Mina Rashid Marina, best known as the home of the Queen Elizabeth 2, the trans-Atlantic ocean liner-turned-hotel that dominates the waterfront here.

But Russia’s war in Ukraine has turned an otherwise routine tableau into a diplomatic battleground between the United States and the United Arab Emirates, an important American ally that has established itself as a safe haven for Russian money and assets out of the reach of U.S. sanctions.

The $156 million Madame Gu epitomizes the problem. In June, the United States designated the vessel, which is linked to Andrei Skoch, a Russian steel magnate and lawmaker under sanctions, as blocked property. That means the yacht cannot use American companies for its upkeep, employ U.S. citizens or even use the dollar. The Justice Department is now taking steps to seize the Madame Gu, according to people with knowledge of the plan.

But the United States can’t seize property in a sovereign nation without permission from its government. The Emirates, which has taken a friendlier position toward Moscow, is balking at cooperating with the United States to pursue oligarchs, American officials said. The Kremlin is also using oligarch-controlled companies in the Emirates to acquire war supplies that the West is trying to keep out of Russia’s reach, according to a Western official involved in the sanctions effort against Russia.

Emirati officials did not comment specifically on the Madame Gu but said in a statement that they took their role “protecting the integrity of the global financial system extremely seriously.”

A closer examination of Russian assets in the Emirates shows that even before the war in Ukraine, Dubai had become a playground for Russians with links to President Vladimir V. Putin. At least 38 businessmen or officials with ties to the Russian president own homes in Dubai that are collectively valued at more than $314 million, according to the Center for Advanced Defense Studies. Five of those owners are under U.S. sanctions.

Since the Russian invasion, Dubai has established itself as a safe haven for Russian yachts and aircraft unable to sail or fly elsewhere. After Russian jets were barred from the European Union in late February, the Emirates became the destination for 14 percent of all private flights leaving Russia, up from 3 percent before the invasion.

“It’s frustrating when you see huge assets that are sitting out there and it appears that the country is not cooperating,” said Senator Sheldon Whitehouse, Democrat of Rhode Island, referring to the Emirates. “It would be nice if there were more common cause against Putin while he’s busy shelling hospitals and schools.”

Mr. Whitehouse is sponsoring legislation that would use proceeds of the sales of seized Russian assets to help rebuild Ukraine. Senior officials at the Treasury and State Departments have also complained publicly about the situation.

U.S. officials view the presence of superyachts in places like Dubai and Bodrum, Turkey , as a symptom of wider Russian circumvention of sanctions and continued access to financial markets. Yachts have also come to symbolize the decadence of Russia’s oligarchs, especially at a time when Russian soldiers are scrounging for body armor and sleeping bags on the front lines.

Pursuing the Madame Gu

Built by the Dutch firm Feadship and put into service in 2013, the Madame Gu has a large helicopter pad on its forecastle with a hangar underneath that can double as a squash court when the chopper isn’t on board. The vessel has berthing for 36 crew members, according to one trade magazine.

Mr. Skoch, a member of Russia’s Parliament who is linked to assets worth billions of dollars, according to U.S. court filings, has had sanctions imposed on him twice by the United States, first in 2018 and then after Russia’s invasion this year. The Treasury Department has cited his “longstanding ties to Russian organized criminal groups.”

Mr. Skoch could not be reached and did not respond to messages left at his office at Parliament.

In an interview in October about the government’s broader efforts to go after the assets of oligarchs, Andrew Adams, a federal prosecutor leading the Department of Justice’s KleptoCapture task force, declined to discuss the Madame Gu. But the United States, he said, is warning companies they must not do business with individuals and assets under sanctions. The government, he said, will pursue oligarch-owned assets whose sale could be used to aid Ukraine.

“Where we know there is an asset that can potentially provide significant remuneration for Ukraine, that obviously is an attractive case to pursue,” he said.

U.S. officials are likely to use the case they made for impounding a $90 million Airbus business jet linked to Mr. Skoch in August as a blueprint for seizing the Madame Gu, said people familiar with the plan.

That means investigators will aim to show that the owner of the vessel, or the companies that have been providing services to it, have intersected with the U.S. financial system.

“If there are U.S. dollars or a U.S. nexus associated with supporting this vessel, massive enforcement actions could take place,” said Adam M. Smith, a former official overseeing sanctions at the Treasury Department. Companies that provide support to entities under sanctions could potentially face their own sanctions, said Mr. Smith, who is now a lawyer at Gibson Dunn in Washington.

This year the United States has carried out two high-profile seizures of yachts tied to Russians under sanctions, working with cooperative governments. The $300 million Amadea was taken in Fiji in May and sailed to San Diego under an American flag. In April, the United States worked with Spanish police to seize the $90 million Tango.

A Problematic Partner

Diplomatically, the Emirates has been reluctant to take a clear anti-Russian position when it comes to the war in Ukraine. Sheikh Mohammed bin Zayed Al Nahyan, president of the United Arab Emirates, recently met with Mr. Putin in St. Petersburg, and the Emirati foreign minister recently hosted his Russian counterpart. Yet Sheikh Mohammed has also talked with Volodymyr Zelensky, the president of Ukraine, more than once and recently gave the country $100 million in humanitarian aid.

The United States has publicly expressed dismay over the mixed messages.

During a visit to Dubai in June, Wally Adeyemo, the U.S. deputy treasury secretary, warned of the need for vigilance and proactive steps in combating Russian evasion. That same month Barbara Leaf, the State Department’s under secretary for Near East Affairs, said at a congressional hearing that regarding the Emirates, she was “not happy at all with the record at this point” on sanctions enforcement. Mr. Adeyemo reiterated his concerns in a meeting with Emirati officials in October in Washington.

A senior State Department official said in a statement to The New York Times that the agency continues “to reinforce the importance of conducting enhanced due diligence to prevent sanctions evasion and investigating allegations of such activity” to the Emirates.

The Treasury Department declined to comment on the Madame Gu or the relationship with the Emirates.

Last month, the Treasury Department announced it had placed sanctions on an Emirates-based company, Constellation Advisors Ltd., that the American government said was operating on behalf of a nephew of another Russian oligarch, Suleiman Kerimov. Mr. Kerimov, according to American court documents, was the owner of the Amadea superyacht .

American officials are also worried the Russian government is using the Emirates to acquire military supplies for its war in Ukraine. On Nov. 15, the Treasury Department imposed sanctions on two Emirates-based transportation firms that had worked with another Iranian firm under sanctions, which in turn had helped transport drones and personnel from Iran to Russia.

Moored in Dubai

Based on a recent visit to Dubai’s Mina Rashid Marina , where the Madame Gu is moored, it is clear that international companies are playing a critical role in its care.

The Emirates-based company DP World, through its subsidiary P&O Marinas , oversees the pier where the Madame Gu is moored. Employees from another DP World subsidiary , World Security, staff the small guard box at the entrance. That makes DP World, which is owned by Dubai’s royal family, potentially vulnerable to American sanctions.

DP World “fully complies with all applicable local and national laws and intends to continue doing the same regarding the Madame Gu and other vessels utilizing our services,” said Adal Mirza, a spokesman for the company. He added that DP World had not yet heard from the United States or other countries that had placed Mr. Skoch under sanctions, including Britain and the European Union.

A generator set that dock workers said in late October was powering the Madame Gu — two container-like structures near its stern — bore the distinctive orange logo of Aggreko , a British company. The generator set was connected to the superyacht by thick cords; one of the containers was emitting grayish exhaust.

At the Mina Rashid Marina, soon after Aggreko was contacted by The Times, workers removed the generator. “Having identified that the generator was being used to power a vessel that is allegedly connected to a sanctioned person, we immediately terminated this rental and have since recovered the generator,” the company said in a statement.

Mr. Mirza, the DP World spokesman, said the Aggreko generator had been replaced with one from a local supplier.

P&O Marinas arranged for the diesel generator to provide power for the Madame Gu because that part of the pier, a holding area, has no shore-supplied electric power, said a port official in Dubai, who spoke on the condition of anonymity because he is not authorized to talk to the press.

“At the end of the day, if the U.A.E. hasn’t imposed sanctions, it’s not really their job to enforce other countries’ laws within their borders,” said Nabeel Yousef, a Washington-based partner at the law firm Freshfields, where he runs the sanctions practice. Nevertheless, “companies should not take comfort in the fact that their country has not imposed sanctions,” he added, “because even the smallest connection to the U.S. can lead to U.S. penalties.”

There has also been a notable absence onboard the Madame Gu in recent weeks: a flag. Unlike other ships moored nearby, including the Quantum Blue, a superyacht linked to the billionaire Sergei Galitsky, the Madame Gu appears to be stateless, apparently having been deflagged by the Cayman Islands.

Cayman Islands officials didn’t respond to an emailed inquiry about the ship’s status.

If DP World were to face fallout from U.S. sanctions enforcers, it wouldn’t be the first time the company has been the focus of attention in Washington. In 2006, DP World was seeking to manage some terminal operations at six American ports but dropped out of the deal after a bipartisan uproar in Congress.

Anton Troianovski contributed reporting from Turin, Italy, and Oleg Matsnev from Berlin.

Kate Kelly covers money, influence, and policy as a correspondent in the Washington bureau of the Times. Before that, she spent twenty years covering Wall Street deals, key players and their intersection with politics. She is the author of three books, including "The Education of Brett Kavanaugh." More about Kate Kelly

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Julian E. Barnes is a national security reporter based in Washington, covering the intelligence agencies. Before joining The Times in 2018, he wrote about security matters for The Wall Street Journal. More about Julian E. Barnes

Our Coverage of the War in Ukraine

News and Analysis

Russian missiles streaked into Kyiv  in the biggest assault on the Ukrainian capital in weeks, injuring several people and damaging several buildings.

Jake Sullivan, President Biden’s top national security official, made a secret trip to Kyiv to meet with President Volodymyr Zelensky and reaffirm the United States’ unwavering commitment to Ukraine.

Under pressure to come up with billions of dollars to support Ukraine’s military, the E.U. said that it had devised a legal way to use frozen Russian assets  to help arm Ukraine.

Symbolism or Strategy?: Ukrainians say that defending places with little strategic value is worth the cost in casualties and weapons , because the attacking Russians pay an even higher price. American officials aren’t so sure.

Elaborate Tales: As the Ukraine war grinds on, the Kremlin has created increasingly complex fabrications online  to discredit Ukraine’s leader, Volodymyr Zelensky, and undermine the country’s support in the West.

Targeting Russia’s Oil Industry: With its army short of ammunition and troops to break the deadlock on the battlefield, Kyiv has increasingly taken the fight beyond the Ukrainian border, attacking oil infrastructure deep in Russian territory .

How We Verify Our Reporting

Our team of visual journalists analyzes satellite images, photographs , videos and radio transmissions  to independently confirm troop movements and other details.

We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .

Palm Beach International Boat Show returns to West Palm Beach waterfront

The Palm Beach International Boat Show returns this week with more nearly 1,000 vessels on display, including super yachts from around the world.

Tickets are on sale now for the show that runs March 21-24 along the West Palm Beach waterfront.

The show, which started in 1982, has grown to a major economic engine for the community, with last year's impact estimated at $1.05 billion statewide — nearly as much as the $1.3 billion Miami International Boat Show, said Alyssa Freeman, executive director of the Marine Industries Association of Palm Beach County, which owns the boat show.

More: Cool front for South Florida won't be its last even with the first day of spring here

"Palm Beach is really not that far behind Miami, and Miami is the biggest in the world," Freeman said. "That was really exciting."

This year's boat show features an expanded Super Yacht Show at Palm Harbor Marina, showcasing yachts that typically stretch longer than 80 feet and have a variety of luxurious amenities that include hot tubs, crew quarters, dance floors and sun decks.

"We have more super yachts there than we ever have before, and they're even bigger," Freeman said, noting that at 236 feet, the vessel Casino Royale takes the title of largest yacht at this year's show. The title of "most expensive yacht" goes to Come Together, a 196-foot vessel priced at $59.95 million.

"Everybody, when they think about super yachts, they think about Monaco and Miami, but Palm Beach is a real player in these boat shows and the yachting world," Freeman said.

Exhibitors continue to be drawn to the Palm Beach International Boat Show by the opportunity for high sales year after year when compared with other South Florida boat shows, she said.

"I've heard from several of them, this is their favorite show to attend," Freeman said, "And that's why, because their sales are higher at Palm Beach."

The show continues to make headway in improving its sustainability efforts, she said. After reducing single-use plastics, a major change this year is the addition of water bottle refilling stations throughout the show, Freeman said.

"I think that's exciting because everybody's talking about sustainability and how we can be more sustainable," she said. "Every year, we take little steps to be more sustainable."

Freeman said she is excited for this year's AquaZone presented by Nautical Ventures. The attraction showcases some of the "yacht toys" that are new or popular on the market.

"It's so cool, because there are people actually in the water demoing yacht toys, and it's usually the latest and greatest," she said. "There's always something new every year that we've never seen before."

The Palm Beach International Boat Show also features a range of seminars, demonstrations and discussions throughout the weekend, including mental health in yachting, tips to boat to the Bahamas, safe boating to protect sea turtles and how to address active threats and piracy.

Freeman, who has children, said she loves the Kids Fishing Clinics scheduled for noon and 2 p.m. Saturday and Sunday with captain Don Dingman.

"Captain Don has been doing this for years, and he does a fantastic job," Freeman said. "The kids actually get to go home with a free rod and reel once the clinic is over."

The association produces the Palm Beach International Boat Show with Informa Markets' U.S. Boat Shows division.

"As we gear up for the 2024 Palm Beach International Boat Show, we are excited for our return to Downtown West Palm Beach to celebrate the rich history of this esteemed event," Andrew Doole, president of U.S. Boat Shows at Informa Markets, said in a news release. "Each year, we’re grateful for the warm welcome and support from the community, which truly makes this event a highlight on the calendar for both residents and visitors alike."

Informa also produces the Palm Beach Modern + Contemporary art show happening March 21-24, at the Palm Beach County Convention Center. A Windward VIP ticket to the boat show includes admission to the art show as well.

In addition to serving as a cornerstone festival of spring in West Palm Beach, the boat show launched the Palm Beach International Boat Show Gives Back program to provide hundreds of thousands of dollars in contributions to local nonprofits, Freeman said.

The grant program had a soft launch last year and formalized the boat show's four-decade practice of giving back to the community, Freeman said.

"We're really excited about it," said Freeman, who added that the boat show team is working with the Community Foundation to manage the grant program, which they hope to grow. "That's something that's a super high priority for us."

Money raised through a portion of the boat show's ticket sales, optional add-ons and some related activities goes toward the fund.

The boat show in February announced that the first round of grants totaling $500,000 would go to 25 nonprofits that have marine-related programs or projects, including Florida Fishing Academy, Loggerhead Marinelife Center, Florida Atlantic University, Inlet Grove High School, Palm Beach State College, Sea Turtle Adventures and Friends of Manatee Lagoon.

"We're hoping one day we'll be able to say that it's a million dollars," she said. "So fingers crossed. It relies on the success of the boat show and the support of the community. With that, we will continue to grow."

What: Palm Beach International Boat Show.

When: Noon to 7 p.m. March 21, 10 a.m. to 7 p.m. March 22 and 23, 10 a.m. to 5 p.m. March 24.

Where: West Palm Beach waterfront.

Cost: General admission is free for ages 6 and younger with purchase of an adult ticket, $17 for a one-day ticket for ages 6-15, $33 for a one-day ticket for ages 16 and older, and $60 for a two-day adult ticket. VIP experiences start at $390 for a Windward single-day ticket.

Information: pbboatshow.com

Kristina Webb is a reporter for Palm Beach Daily News, part of the USA TODAY Florida Network. You can reach her at  [email protected] .  Subscribe today  to support our journalism.

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Top 100: Largest Superyacht Launches of 2021

By Danny Wiser

An eco-concious development, a family-friendly giant and two enormous explorer yachts, 2021 had it all in the yachting world. With a range of phenomenal releases, we look back at some of the largest superyacht launches the year had to offer...

 #76: VIVA Known for her advanced hybrid propulsion system, Feadship wowed yacht enthusiasts with the launch of its ecologically-minded superyacht in February. The owner's brief was to keep the environmental output of the 94m at the same level as his significantly smaller superyacht he already owned, which was achieved through VIVA's range of technologically advanced systems she has in place. Though VIVA reaches a top speed in pure-diesel mode of 20 knots, her hybrid system allows her to cruise at 12 knots when her exhaust emissions are treated via the IMO Tier III catalytic converts and diesel particulate filters. Feadship ensured that her air-conditioning system would be optimised to prevent excessive power consumption and that VIVA would include an effective heat recovery system in order to minimise energy wastage. With a minimalist design, as per the owner's instructions, the Dutch shipbuilders worked in conjunction with Peter Marino Architects who delivered the superyacht’s ‘open beach-house-style interior’ to complement VIVA's modern and airy feel.

#72: BLISS  The month of May saw the launch of yet another Feadship sea-bound behemoth, as BLISS prepared to make her way out of Feadship's Makkum shipyard. A prime example of a custom build, BLISS was built almost entirely with the close involvement of her new owners, with their vision now brought to life for the family who can set sail across the globe exploring the delights this planet has to offer. BLISS' capacity for adventure was made possible with the introdcution of her deep water anchor, dynamic positioning system and Polar certification. With a range of 6,000 nautical miles BLISS is likely to give her new owners a sense of freedom that very people are blessed with. 

#35: AHPO Lürssen delivered yet another 100m+ yacht packed with family-focused features ranging from a ginormous gym to a wellness area. The six deck AHPO's name translates as 'grand lady' from Mandarin. She is packed out with innovative engineering systems including Dynamic Positioning for electronic anchoring and a heat recovery system to heat the swimming pool. With accommodation for 14 guests, AHPO is kitted out with a sleek design crafted by the team at Nuvolari & Lenard.

#13: SOLARIS The biggest superyacht of the year measures up at a whopping 140m, making her the largest explorer yacht to ever be built. Delivered by Lloyd Werft, the explorer yacht SOLARIS features the largest ABB Azipod® system ever installed on a superyacht and over 2,000 square metres of glass. As a natural evolution from Lloyd Werft's flagship LUNA, the German shipyard marked itself as a major player on the mega yacht scene with the delivery of yet another ginormous vessel. Featuring eight decks and a sleek white superstructure, little else is known about Solaris and it is her mystery that adds to her allure and charm. 

"Many years from now [AHPO] will be timeless and yet still ahead of its time." Peter Lürssen, Lürssen CEO

"Many years from now [AHPO] will be timeless and yet still ahead of its time."

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Florida news | rep. carolina amesty notarized document that teacher says he never signed | special report, florida news, florida news | go inside research boat that studies florida’s overheated corals.

While you might first notice the glossy super yachts or a fishing trawler on the Miami River, there’s also an 80-foot vessel packed not with partiers, but scientists, trying to protect the coral offshore.

Bridget Coughlin, the CEO of the Chicago-based Shedd Aquarium, said their research vessel named the Coral Reef II is docked in Miami because of the diversity of marine life in the area.

“We teach climate change through empathy with animals,” said Coughlin. “If you talk about how otters are starving, that empathy for that otter is going to catalyze you to act.”

The vessel can go out to sea for three weeks at a time and can travel as far south as the Dominican Republic. The researchers study a plethora of animals including queen conch, endangered rock iguanas, sharks and climate change’s impact on the coral reef. From March through October, the crew often works days that stretch from 7 a.m. to midnight.

How to come aboard the research vessel

The Coral Reef II also acts as a live-in laboratory for aspiring marine biologists. High school and college students can go on a weeks-long journey that includes snorkeling in crystal-clear water with Caribbean reef sharks and working side-by-side with scientists. Chuck Knapp, a 30-year employee of Shedd and the head of conservation on the vessel, said he got his start that way.

Rep. Carolina Amesty notarized document that teacher says he never signed

“I was originally a high school marine biology student back on the boat as a 17-year-old in the late ‘80s so it’s been a thrill of a lifetime to come back,” Knapp, who gave a tour of the vessel in the video said.

This summer, high schoolers will be taking a trip to the Bahamas to learn about how to protect dolphins, snorkel shipwrecks and observe firsthand from Shedd’s shark research biologist.

Conducting research on coral reefs bleaching

One of the most unique parts of the vessel is its live well system, which consists of large built-in tanks at the front of the boat filled with seawater.

These mini aquariums are a safe harbor for wildlife that scientists are trying to study or move. The live well system makes it easy to scoop marine life like coral up, perform heat stress tests and return them back to sea in hours.

Ross Cunning, a coral biologist with Shedd, said researchers can use technology onboard to test how well the coral absorbs sunlight and observe what temperature and speed cause corals to bleach.

Even two corals of the same species might bleach at different speeds, and they’re looking for the most heat tolerant coral, Cunning said.

Last summer he worked alongside South Florida research groups, like the University of Miami, the Coral Restoration Foundation, and Reef Renewal to test snippets of these baby corals in nurseries that have been growing in higher water temperatures.

“Finding interventions to boost the heat tolerance in coral reefs is more important than ever,” Cunning said. “But the most critical thing we need to do is stop climate change.

“All the research in the world will not boost coral heat tolerance enough to cope with oceans that continue warming. We must stop the root of the problem and stop greenhouse gas emissions as quickly as possible.”

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Moscow's High Rise Bohemia: The International Business District With No Business

• Written by Dario Goodwin
• Published on March 17, 2015

The Moscow International Business Center (Also known as Moskva-City ) was meant to be Russia ’s ticket into the Western world. First conceived in 1992, the district at the edge of Moscow’s city center is intended to contain up to 300,000 inhabitants, employees and visitors at any given moment and, when completed, will house over 4 million square meters of prime retail, hotel and office space to create what the Russian government desired most from this project: an enormous financial district that could dwarf London’s Canary Wharf and challenge Manhattan . Twenty three years later though, Moscow-based real estate company Blackwood estimates that as much as 45% of this new space is entirely vacant and rents have plummeted far below the average for the rest of Moscow. The only press Moskva-City is attracting is for tenants like the High Level Hostel , a hostel catering to backpackers and other asset-poor tourists on the 43rd floor of the Imperia Tower , with prices starting at $25.50 for a bed in a six-person room. This is not the glittering world of western high finance that was envisioned back in the post-Soviet 90s; but what has it become instead?

As one might expect from a project of this sheer ambition, Moskva-City has a troubled past. The economic crash in 2008 hit Russia hard enough to evict the previous Mayor of Moscow , Yuri Luzhkov, who had been a cheerleader for the district, and replace him with the considerably more austere Sergei Sobyanin, who famously declared that the whole idea was an “urban planning mistake.” But as recently as 2013, the Wall Street Journal was triumphantly claiming that Moskva-City had risen from the dead, citing 80% occupancy rates and glowing quotes from industry insiders claiming that Moskva-City was the "place to be." Driven by record highs in oil prices, Moscow looked poised to become the next Dubai .

Instead, Moscow is now in the grip of an economic winter prompted by western sanctions and drops in the price of oil. The large financial groupings that Moskva-City was meant to shelter have been warned off by their inability to issue credit to international markets, for example - but Moskva-City isn’t just an Empire State Building left empty by the Great Depression.

A fundamental problem that is holding Moskva back compared to the rest of Moscow is the simple fact that currently, getting to Moskva-City is nigh-on impossible at peak hours. Moscow has long been plagued with transport problems, ever since the government failed to match the dramatic expansion of the city with a dramatic expansion of the transport system after the Second World War. Despite being only 2.5 miles from the Kremlin , Moskva-City is only just inside the ring road that bounds the city center and which acts as the only real transport link to it (and as a result, is clogged by construction vehicles.) A railway and metro hub has been finished, but so far only runs a one-stop shuttle service to the closest Metro station that is actually integrated with the rest of Moscow Metro. The isolation of the outer districts is a large, negative part of the Moscow psyche, and it’s not surprising that this is driving away the globetrotting financial elite this project was meant to attract.

The project is managed by architectural practice No.6, which is a constituent part of the large Moscow based practice Mosproject-2 , which is itself a public corporation headed up by Mikhail Vasilyevich Posokhin, who is apparently the “People’s Architect of Russia.” Despite all this state involvement, the project has still managed to become bogged down in bureaucratic infighting - each lot is managed and developed individually, which has led to developers competing for occupants by slashing rates.

Much has been written about the way modern financial districts and towers that inhabit them can be unwelcoming, forbidding or even hostile by design, but the skyscrapers of Moskva-City seem even less friendly than usual. The site - a former stone quarry, chosen out of necessity as the only place in the city center where a new district could be plausibly constructed - is isolated both physically and visually, leaving the cluster a stark anomaly on the city skyline. Even the names seem more imposing than optimistic now: Imperia, City of Capitals , Steel Peak.

The Mercury City Tower , so far the tallest completed building on the site, is officially “a strong reference to Russian constructivism, [which] gives the tower a strong vertical thrust similar to the one found in New York's Chrysler building .” It would be easy to criticize the Mercury City Tower for picking ‘inspirations’ that are so totally opposed to each other - The Chrysler building the defining emblem of American pre-crash confidence and Constructivism created with the express purpose (especially architecturally) of extending the Bolshevik revolution into a social revolution - but the way they smash those two inspirations together is almost beautifully ironic.

Even though the High Level Hostel is less an asset to a financial district than it is a PR problem, it’s been a huge success since opening in September, already ranked 27th out of 766 hostels in Moscow by TripAdvisor. According to the management agency for Moskva-City , 58% of the new occupant signings this year have been non-financial, including a number of small to medium size businesses. Other areas of office space have been occupied by a restaurant and a culinary school, while another space has been redeveloped into a 6,000 seat theater.

While Moskva-City is failing to be a financial district that could take on the world, it’s inadvertently becoming a humanized space catering to the very groups that the Russian economic miracle left behind. Taking advantage of rents lower than the rest of Moscow , the world class facilities and the sheer desperation of the developers, the humanization of Moskva-City could well create the world’s first high-rise bohemia.

Of course, these are not spaces designed for a community, or even for people: these are spaces designed for money, and there’s little scope for changing something that seems so baked into the design of Moskva-City . The High Level Hostel is trading off of the irony of being a hostel in a banking tower, but it’s perfectly possible that at some point people will no longer find this joke funny (especially in a building that seems hostile to the very idea of humor). The isolation of Moskva, even though it allowed this community to spring up in the first place, is just as detrimental to a humanized district as it is to a financial one: even bohemians need to move around the city, or the district risks becoming a black-spot instead of a hot-spot.

Moskva-City’s isolation won’t last forever. The end of construction will open the roads up to traffic, and plans to properly integrate the spur lines of the Metro in this area into the wider system are well under way. The integration of the district will inevitably push up rents, and the Russian economy will eventually boom once again. When that happens, Moskva-City is prime territory to be reconquered by the giants of international finance, and it seems unlikely that the municipal or national governments would want to step in to protect this accidental district. For now, though, the towers capture perfectly this moment of Russia ’s schizophrenic understanding of its place in the world.

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