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By Jack Hogan 11 Apr 2023

Out now: The Superyacht New Build Report

Issue 216: the superyacht new build report is now available to read and download online….

The New Build Report 2023  gave us a chance to look at the wider issue of industry sustainability. There will be many divergent paths to achieving its targets, but 2030 is no longer an arbitrary date. The fascinating discussion from The Superyacht Forum between Peter Lürssen, CEO of Lürssen , and Henk de Vries, CEO of Feadship set the stage in late 2022. Now seems the right time to look at some of the most exciting projects, concepts and ideas in development. 

This Report also takes invaluable insight from outside the industry echo chamber to examine how the future energy markets may affect the operation of the next-generation fleet, as well as the key outcomes from COP27 and how the superyacht industry can take a central role in environmental restoration programmes. 

The team from Lateral Naval Architects lift the lid on the bold new concept Aeolus from Oceanco and its three-stage transition platform that hopes to bring carbon neutrality to the 90m-plus sector. A platform with the inbuilt flexibility to evolve with a changing energy landscape, the fascinating challenges that Aeolus and Lateral address run deeper than just the energy density of future fuels.

Daniela Duck, the new-build division coordinator at Camper & Nicholsons , shares her insights into the challenge of new-build management in a buoyant but testing market. Duck discusses how her expertise fits into the Camper & Nicholsons framework, as well as the need for effective new-build management in a complex economic climate.

The concept of a zero-fossil-fuel superyacht has seemed a bridge too far for much of the industry despite the imperative placed on it by encroaching regulatory frameworks. Undoubtedly the most ambitious build featured in these pages, and arguably from across the industry, Project Zero aims to break the status quo. With the 69-metre Vitters ketch nearing reality, Marnix Hoekstra, co-creative director at Vripack , joins TSG to take a closer look at this open-source project and the equally ambitious foundation that supports it.  

For this edition, our editors also visited French Polynesia with the team from EYOS Expeditions , to see how a legendary polar exploration vessel is plying its trade in the tropics. We also analyse the hotly contested Italian 50m market and asked our readers to pick their favourite...

We are fully committed to working towards a greener superyacht industry. And we, as a team, aim to do all we can to ensure that we are part of the solution. That’s why we are encouraging our loyal readership to make the switch to digital media consumption, instead of print.

The Superyacht Report is only available to read to those with an Essential or Executive Membership . Essential Membership grants members access to the full suite of business-critical content available across SuperyachtNews.com and The Superyacht Report, including access to our complete library of back issues, and unlimited access to SuperyachtIntel. 

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Insiders still have no idea what's going to happen to Russian oligarchs' seized superyachts

• It's been two years since Russia invaded Ukraine, leading to sanctions against Russian oligarchs.
• Many of their superyachts were seized or frozen , leading industry insiders to question their fate.
• The yachts, some of which are worth hundreds of millions of dollars, remain in a state of limbo.

More than two years after Russia invaded Ukraine, the boating world still doesn't have many answers about what's going on with the very large, expensive elephants in the sea: oligarchs' superyachts .

The war prompted many governments to enact sanctions against Russia's richest , including seizing their superyachts worth hundreds of millions of dollars. But it's unclear whether they can be sold or who'd buy them, leaving ports peppered with massive boats stuck in a floating limbo.

"The Russian problem, it's becoming a bigger and bigger and bigger problem," one luxury yacht broker told Business Insider at the Palm Beach International Boat Show last week. Like many others, he requested not to be named, given the sensitive nature of the matter at hand and the generally discreet nature of the industry.

Russia has been a massive player in the massive boat market for a long time. In August 2021 — about six months before Russia's Ukraine invasion — Russians owned the second-largest share of yachts over 40 meters in length, according to a report from the industry publication SuperYacht Times.

They were responsible for 16% of new build superyacht purchases in the decade preceding the report and are known for splashing out on extravagant interiors and unique features. (One builder BI spoke to recalled a mandate from an oligarch for a large safe in the owner's cabin in which he could keep his rifles. The builder later learned he'd use them to skeet shoot on deck.)

But those sales have now screeched to a halt as oligarchs get hit by international sanctions. At least a dozen superyachts — worth well over $1 billion combined — have been affected.

And no one is quite sure what will happen to them.

Russia's sanctioned superyachts are hard to buy and sell

The first problem is that many of the yachts are "frozen" — not seized. That means that although the Russian owners can't operate or collect them, they don't technically belong to an overseas government, so they can't be sold without special permission.

Earlier this month, federal prosecutors petitioned a judge asking for consent to sell the Amadea, the 106-meter superyacht that has been docked in San Diego and costs the US as much as $922,000 a month to maintain.

"I've had some inquiries, but all you can tell them is we don't know the outcome yet" of the case, another superyacht broker told BI at the yacht show.

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And despite the broker's claim of interest in yachts like Amadea , most ultrarich — or at least their brokers — don't want to go near the vessels with a ten-foot pole, even if the government does get legal permission to sell them.

"How does it look if you bought a Russian boat?" Julia Simpson, a broker at Thompson of Monaco, said. "Even if it's completely legal and normal, there are too many things on the line," she said, like how the original owner got their money and whether that could make the new buyer look bad.

There are also possible legal implications, as it's hard for the government to prove who actually owns the yachts.

"Oligarchs typically structure their ownership of these high-value assets through a web of offshore shell companies and trusts that is designed to conceal the true owner," Joshua Naftalis, a former federal prosecutor who now works for Pallas Partners, told BI.

And if the government does assume ownership, it's highly dependent on court orders. For example, a Russian whose yacht had been seized by the French government regained access to his boat after winning a legal battle in 2022.

"It's a very difficult process to buy them," Ralph Dazert, the head of intelligence at SuperYacht Times, told BI. "There is a high risk of the former (Russian) owner suing you to get the boat back."

He pointed to the Alfa Nero, the 82-meter yacht that Eric Schmidt planned to purchase for $67 million last year in an auction put on by Antigua and Barbuda. He backed out after various parties tried to block the sale, likely deeming it not worth the legal headache.

"When the reason for sanctioning goes away, which it may do," the Russian owners will try to get their boats back , Simpson said. After all, "the government's not going to pay them."'

That said, if sanctions are dropped, the yachts will be worth much less than when they were seized, as a boat not in use deteriorates much faster than one sailing the seas.

"Those yachts need to be used to be kept in shape, kept in condition," the second broker said. "​​Just having them sit at the dock with a temporary crew on board is not good for the boats."

And the sanctioned Russians who have managed to maintain control of their superyachts won't have an easy time offloading them in the future.

Americans who try to do business with sanctioned oligarchs would have a number of hoops to jump through — like finding a bank to process the purchase, which would be next to impossible. If somehow they did and the government caught wind, they'd face hefty penalties and the transaction would be void.

So Russia's richest have found themselves "stuck" sailing in a select few countries that will let them, like the Maldives, Montenegro, and Dubai.

Watch: Video of Russian naval ship explosion shows a much-needed win for Ukraine

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Lexus Just Unveiled a Speedy New 68-Foot Yacht

The 68-footer can only be ordered in japan—for now, at least., rachel cormack.

Digital Editor

Rachel Cormack's Most Recent Stories

Work from sea this new 197-foot superyacht doubles as a floating executive suite, heesen’s most powerful superyacht yet comes with a remote-controlled rescue buoy, this new 131-foot all-aluminum superyacht lets you take a dip at tip and tail.

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Lexus just unveiled the most powerful vehicle in its lineup, but it won’t ever reach the road.

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This 112-foot superyacht has an interior that’ll make your manhattan condo jealous.

• This Ultra-Rare Porsche 911 Was the First of Its Kind in the U.S. and Now It’s up for Grabs

The luxury yacht, or LY for short, was designed to “feel like a hideout in the middle of the sea,” according to Lexus. The exterior reflects the automaker’s “L-finesse” design philosophy, with curvy, head-turning lines and a sharp bow creating a sporty profile.

The interior centers around a “comfortable living space,” Lexus says. With a beam of nearly 19 feet, the yacht offers a decent amount of space onboard, too. The nameplate didn’t divulge many details regarding decor, but Italian design powerhouse Nuvolari Lenard spearheaded the interior design of the 650. In terms of layout, the 680 is equipped with three cabins on the lower deck and a light-filled salon, galley, and helm station on the main deck.

The exterior is bigger—and perhaps better—than that of the 650. The flybridge has been extended by about 4.5 feet and adorned with a plush lounge and grill. The aft swim platform has also been lengthened by roughly 2.3 feet.

In terms of performance, the 680 will be powered by a pair of 12.8-liter turbocharged Volvo D13 engines capable of delivering 1,350 hp each to IPS drives. (The yacht can also be equipped with slightly less powerful 1,050 hp engines.) The 650 sported the same propulsion system and could reach 33.5 knots at full tilt.

Click here to see all the photos of the Lexus LY680.

Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…

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Producer who accused Sean 'Diddy' Combs adds Cuba Gooding Jr. to sexual assault, harassment lawsuit

A music producer who filed a lawsuit against Sean “Diddy” Combs last month has now accused actor Cuba Gooding Jr. of sexually harassing and assaulting him, an amended federal complaint filed Monday night shows.

The amended civil complaint was filed in U.S. District Court in Manhattan hours after federal officials searched Combs’ homes . Combs is a subject of a federal investigation, and several people have been interviewed by federal officials in Manhattan in relation to allegations involving sex trafficking, assault, illegal narcotics and firearms, a source familiar with the matter told NBC News.

Representatives for Combs, 54, did not immediately respond to NBC News’ request for comment Monday.

The producer, Rodney “Lil Rod” Jones, filed his original lawsuit against Combs and others in February, alleging that Combs forced him to procure sex workers and pressured him to engage in unwelcomed sex acts with them.

The amended suit alleges that Gooding groped Jones while on Combs’ yacht.

An attorney and representatives for Gooding did not immediately respond to requests for comment late Monday.

Gooding “began touching, groping, and fondling Mr. Jones’ legs, his upper inner thighs near his groin, the small of his back near his buttocks, and his shoulders,” Jones’ the suit states.

Jones “was extremely uncomfortable and proceeded to lean away from Mr. Gooding Jr.,” the lawsuit says. “He rejected his advances and Mr. Gooding Jr. did not stop until Mr. Jones forcibly pushed him away.”

Attorneys for Jones said in the lawsuit that the incident happened on a yacht rented by Combs in the U.S. Virgin Islands in January 2023. It accused Gooding of sexual assault and misconduct.

Gooding has not been charged with any crime.

In a different case, Gooding pleaded guilty in 2022 to a misdemeanor charge that he forcibly kissed a worker at a New York nightclub in 2018.

He completed alcohol and behavior modification counseling, was then allowed to withdraw that plea and then pleaded guilty to a lesser harassment violation, resolving the case with no jail time .

On Monday, federal agents with Homeland Security Investigations executed search warrants at properties belonging to Combs in Los Angeles and Miami, sources told NBC News.

There has been no information connecting Gooding to any of the searches, and it is not clear what the searches entailed.

Combs has been accused of misconduct in civil cases filed by four women. One was quickly settled and three are pending . Combs has denied the allegations in those lawsuits.

“Let me be absolutely clear: I did not do any of the awful things being alleged. I will fight for my name, my family and for the truth,” he said in a December statement.

Jones said in the lawsuit that he worked on Combs’ latest album, “The Love Album: Off the Grid.” The album was released in September 2023 and was nominated for a Grammy.

The suit alleges , in part, that Motown Records, and others, benefited from his work on the album, but that he was not fully compensated.

Monday’s amended complaint filed by attorneys for Jones contains a declaration by former Motown Records CEO Ethiopia Habtemariam who it appears to show her willing to testify about the contract involving “The Love Album.”

A spokesperson for Universal Music Group, which owns Motown Records, did not immediately respond to a request for comment.

The lawsuit seeks damages, including punitive damages, but does not specify an amount, seeking amounts to be determined at trial.

Diana Dasrath is entertainment producer and senior reporter for NBC News covering all platforms.

Phil Helsel is a reporter for NBC News.