SuperYacht Times has released the latest edition of its annual The State of Yachting report, now available for download. This SYT iQ Insight article provides a glimpse into the comprehensive market data analysis and insights provided by the Intelligence Team at SuperYacht Times.In 2023, the yacht industry witnessed a modest decline in the sales of both new and used yachts, yet figures remained higher than pre-pandemic levels. This observation raises an intriguing question: Have yacht sales reached a new, elevated baseline in the post-COVID era? Notably, throughout the year, stock markets in th ..read more

The Turkey-based shipyard Numarine has delivered three new yachts: the 37.3-metre 37XP yacht Maya, as well as the 26.68-metre 24th and 25th hulls of the 26XP yacht series.  As the largest of the Numarine fleet, until their new 40MXP is delivered in 2025, the 37XP yacht Maya features interiors courtesy of Rezzan Benardete, and space for a seven stateroom layout.Adorned with expansive windows throughout, her main deck saloon and staterooms, including the lavish master suite situated on the main deck, are bathed in natural light for a calming ambiance. At a spacious volume of 345 GT, some of ..read more

Canada-based yacht builder Crescent Custom Yachts has delivered the 50.08-metre superyacht Danzante Bay to her owner in the USA. Danzante Bay is Crescent Custom’s flagship yacht and the largest yacht built to-date in Canada. She has remained under the management of Camper & Nicholsons since 2023 and features both exterior design and naval architecture crafted by Gregory C. Marshall Naval Architect, with interior design by UK-based H2 Yacht Design.  Read: 50m Crescent Custom superyacht Danzante Bay on sea trials"Camper & Nicholsons is proud to have had Danzante Bay under manag ..read more

The 122-metre Lürssen superyacht Kismet has been spotted on further sea trials close to Kiel, Germany. Previously known as Jag, Kismet was last seen preparing for sea trials in October 2023 when she was seen on the Kiel Canal.Launched from the Schacht-Audorf facility in August 2023, Kismet was sold to an American client by Moran Yacht & Ship, which also compiled her technical specifications.  In pictures: 122m Lürssen superyacht Jag launchedKismet features a highly distinctive exterior design by Nuvolari Lenard, which includes Lürssen’s signature elongated bow. With naval archite ..read more

The 61-metre Royal Hakvoort superyacht Project Asia has been spotted on her sea trials by SuperYacht Times Content Creator Nick Smits. During her sea trials Project Asia passed through Amsterdam, the Netherlands and cruised past the SuperYacht Times office on her way to the North Sea.Designed by Sinot Yacht Architecture & Design which were responsible for her exterior design, YN253, Project Asia, was commissioned by a passionate owner looking for a seamless blend of style, functionality.Project Asia was built under the supervision of Moran Yacht & Ship and designed with a carefully con ..read more

The 60-metre Amels 200 superyacht Marsa has been delivered from the Damen Yachting shipyard in the Netherlands. Also known as Amels 18804, Marsa left the dock at the Vlissingen shipyard on her maiden voyage, ready for a private itinerary with her owner.The semi-custom Limited Editions superyacht Marsa was launched from the shipyard in November 2023, where she broke records for Damen Yachting, as one of two superyachts launched on the same day.  Read: Damen Yachting launches two Amels Limited Editions yachts on the same day"It was so rewarding to see the owners onboard for the christe ..read more

A fire has broken out and sunk the 26.96-metre Pershing yacht Spirit of Zen in Dubai Marina. Videos published online show the Pershing 88 yacht Spirit of Zen on fire, with flames bursting throughout her interior. First responders from the Dubai Civil Defence quickly attended to the scene to tackle the blaze, which saw thick black smoke billowing from her stern.   According to local eyewitnesses the fire was extinguished, with the yacht now sunk in the marina. At the time of publication, the cause of the fire has not been determined, with investigations ongoing. It is unclear at this ..read more

The 75.7-metre Feadship superyacht Alvia has been spotted on her sea trials in the Netherlands. Alvia was launched in August 2023 from the Royal Van Lent Kaag facility in the Netherlands, with details surrounding Project 822 kept tightly under wraps.Alvia was sold by Burgess and started construction in 2019 under the name Project Hanami, at the Royal Van Lent Kaag facility. Alvia was last seen in November 2023, when she was spotted cruising for the first time during a short excursion into the North Sea.  Read: 76m Feadship superyacht Alvia seen cruising for the first timeThe twin scr ..read more

The Board of Directors of The Italian Sea Group, a leading yacht builder based in Marina Di Carrara and encompassing brands such as Admiral, Tecnomar, Perini Navi, Picchiotti, NCA Refit, and Celi 1920, has officially reviewed and approved the preliminary consolidated financial results as of 31 December 2023.The Group has reported a substantial increase in total revenues, reaching €364 million, a notable 24% growth compared to €295 million in the previous year. This surge in revenue can be primarily attributed to new sales contracts and the advancement of existing orders. The total value of the ..read more

In their latest financial disclosure, the Board of Directors of Ferretti Group, the Italy-based yacht builder headquartered in Forlì, has officially reviewed and approved the preliminary consolidated financial results for 2023.Net revenue from new yachts: The Group's financial performance for 2023 has shown a significant increase, with net revenue from new yachts reaching €1,110.9 million, up 11.5% from €996.1 million in 2022, attributed to the strong order intake of 2022 and 2023.  Regarding the breakdown of net revenues, the Composite yachts segment reached €491.8 million, accounting fo ..read more