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MarineMax secures $1.35b loan

MarineMax secures $1.35b loan

MarineMax has secured loans of $1.35b to support its growth. The yacht retailer has increased its floor plan line by $250m from its existing arrangement and acquired $400m to finance the acquisition of IGY Marinas earlier this week. The debts

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Ferretti Group superyachts orderbook grows 26%

Ferretti Group superyachts orderbook grows 26%

Ferretti Group grew its superyacht orderbook 26% to €370.5m at the end of June from €293m at the end of 2021. Demand for its smaller yachts also rose with the company’s total backlog now at €1.2b, up 30%. “The market

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MarineMax buys IGY Marinas for up to $580m

MarineMax buys IGY Marinas for up to $580m

MarineMax has bought Island Global Yachting (IGY Marinas), which owns 23 marinas worldwide, for $480m. Tom Mukamal, the CEO and IGY Marina’s senior management team will stay and have agreed to a two year earnout which could add $100m to

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Sales up 64% at The Italian Sea Group

Sales up 64% at The Italian Sea Group

The Italian Sea Group (TISG), the owner of Picchiotti, Admiral, Perini Navi, Tecnomar (Evo 115 pictured) and NCA Refit, has reported a 64% increase in sales for the first half of 2022, totaling €133m ($136m). It made €80.9m in sales

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The Italian Sea Group launches new superyacht series

The Italian Sea Group launches new superyacht series

The Italian Sea Group (TISG) has launched a new fleet for its Picchiotti brand that will feature vessels ranging from 75-180ft (24-55m). The new build projects are being built in partnership with Luca Dini Design and Architecture. The fleet named

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Lost treasure found on seized superyacht

Lost treasure found on seized superyacht

The US government has found what it believes to be a Fabergé egg on seized superyacht Amadea (pictured). The $300m vessel, owned by sanctioned Russian oligarch Suleiman Kerimov, has been a key target in the US law enforcement’s battle against

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Russian yachts are having a Rotter-dam

Russian yachts are having a Rotter-dam

Imagine spending €1.654bn ($1.682bn) on superyachts. What would your investment buy? One answer is 26 luxury vessels. That is the combined value of 24 yachts under investigation by the Dutch customs authorities in connection with Russian ownership plus a further

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Sunreef Yachts expands to the Middle East

Sunreef Yachts expands to the Middle East

Sunreef Yachts is set to open a new shipyard in the United Arab Emirates following rising demand in the Middle East. It will be the first overseas project the Polish shipyard has undertaken. The luxury yacht builder currently has two

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BYD Group announces 164ft hybrid superyacht project

BYD Group announces 164ft hybrid superyacht project

SYI Summary The Mallorca-based design studio has announced a new 164ft (50m) superyacht project, created in collaboration with Atollvic Shipyard, the BYD 50. Built will a full hybrid propulsion system with two hydrogen fuel cells, it is also equipped with

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Malta sets record for most superyacht registrations

Malta sets record for most superyacht registrations

More than 1,030 superyachts around the globe now fly the Maltese flag as the island nation registered a record 51% increase in registrations. Malta has held the highest number of registered superyachts over 78ft (24m) since 2020. The new figures

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