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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCan superyachts go electric? Solar-powered electric yachts have hit the superyacht market. Silent Yachts and Sunreef Yachts are two companies working on developing this technology. Allied Market Research predicts the solar boat industry will grow 14% by 2031 to $2.4 billion. CNBC headed to the Cannes Yachting Festival to get an inside look at the companies building solar-powered electric yachts, and to explore the challenges the technology faces in playing a wider role in the future of maritime transportation.

Organizations: Silent Yachts, Sunreef Yachts, Allied Market Research, CNBC, Cannes Yachting Festival

☆ The superyacht version of a 'French palace' is being put up for sale for $23 million by the Barclay family
▼ + stars: | 2023-10-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The UK's billionaire Barclay family is looking to sell the "Lady Beatrice," a 197-foot-long superyacht. The Barclay family, which owns The Telegraph media group, has put up the "Lady Beatrice" for sale for 22 million euros, or $23.2 million, according to a listing by its broker, Edmiston. One writer on autoevolution, a car and transportation site, was so impressed that they called the superyacht "the floating version of a French palace." The Barclay family is known to be very private. AdvertisementAdvertisementEdmiston and the Barclay family did not immediately respond to requests for comment from Insider outside regular business hours.

Persons: Barclay, Beatrice, —, Beatrice Cecelia Taylor, Frederick, David Barclay, David, Sunday Times Rich, Forbes, Hiroko, Frederick's Organizations: The Telegraph, The Times, Service, Telegraph, Lloyds Banking Group, Sunday Times, Bloomberg

☆ Why superyacht builders are investing in solar
▼ + stars: | 2023-10-06 | by ( Sydney Boyo | ) www.cnbc.com time to read: +5 min

Early tech adopters are investing in a new toy: solar-powered electric yachts. "I believe electric yachts and electric motors will be the main propulsion of pleasure yachts and even cargo vessels in the near future." The company says it has an order book of 160 million euros ($168 million), with prices ranging from 3.2 million euros for its 60-foot yacht to 30 million euros for the fully equipped version of its 120-foot vessel. "The smallest boat is around 1.5 million euros and on the upper range there really is no limit. "We think there is a sweet spot for solar electric boats between 50 and 120 feet," said Kress.

Persons: Mike Horn, Michael Köhler, it's, Heiki, Stephan Kress, Sunreef, Rafael Nadal, Fernando Alonso, Nicola Lapp, Kress Organizations: SuperYacht Times, of Yachting, ForSea Ferries, Allied Market Research, Silent Yachts, Yachts, Formula Locations: SuperYacht Times ', North America, Sweden, Austria, Italy, Turkey, Gdansk, Poland, Emirate, Ras Al Khaimah, Sunreef

☆ Move over jet skis: The new onboard gadget the ultra-rich seek for their superyachts are submersibles.
▼ + stars: | 2023-10-01 | by ( Lloyd Lee | Hannah Getahun | ) www.businessinsider.com time to read: +4 min

Now, the world's .01% are seeking submersible vessels to accessorize their latest superyacht purchase, The Washington Post reports. "Yacht owners are, by and large, people who have an interest in the ocean," Patrick Lahey, founder of Triton Submersibles, previously told Insider. The disaster may have sparked more interest in extreme adventures from the wealthy, Phillippe Brown, founder of Brown and Hudson travel company, previously told Insider. Valery Hache/AFP via Getty ImagesAt Triton Submersibles, a vessel can cost between $2.5 million and $7 million, Insider reported. AdvertisementAdvertisement"Even after a thousand dives, it never stops being exciting," Charles Kohnen, co-founder of SEAmagine, told the Times.

Persons: —, Ofer Ketter, Jeff Bezos, Patrick Lahey, Triton Submersibles, Phillippe Brown, Brown, Valery Hache, Ian Sheard, Charles Kohnen, SEAmagine Organizations: Service, Washington Post, New York Times, Amazon, International Monaco, Getty, Times Locations: Hudson, AFP, Aurora

☆ Evergrande sold yacht this year, say sources, as creditors sharpen focus on offshore assets
▼ + stars: | 2023-09-29 | by ( Scott Murdoch | Thomson Reuters | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

The yacht "Event", which is believed to be owned by China Evergrande, is docked in Hong Kong, China October 11, 2021. Evergrande's offshore bondholders are expected to sharpen their focus on offshore assets as the developer's debt restructuring plan flounders with the founder now being investigated over suspected "illegal crimes". Compared to its $31.7 billion in total offshore liabilities, Evergrande has far fewer assets outside China. Of the remaining offshore assets of the company and its founder, creditors would need to establish whether they have already been used as collateral to raise funds. Foreign bondholders' "ability to get to these (offshore) assets is a function of the legal claim - has he (Chairman Hui) pledged it?"

Persons: China Evergrande, Tyrone Siu, Evergrande, Hui Ka Yan, Hui, Scott Murdoch, Julie Zhu, Marc Jones, Sumeet Chatterjee Organizations: REUTERS, Rights, China Evergrande, HK, Reuters, Boeing, Gulfstream, Wall Street Journal, Thomson Locations: China, Hong Kong, Sydney, London, Lincoln

☆ The top superyachts at Monaco Yacht Show 2023
▼ + stars: | 2023-09-27 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +7 min

“It shows the evolution of yacht design and the use of a yacht,” says Pizzardini. The Monaco Yacht Show’s Sustainability Hub, which showcases what are touted as sustainable solutions and eco-friendly projects, is returning to the show for its second year. RossinaviThere were 5,695 superyachts over 30 meters in operation in mid-August, according to the Monaco Yacht Show Market Report 2023 published by SuperYacht Times. The report goes on to state that new yacht sales were behind by 34% at the start of September, while used yacht sales were down by around 25%. There are lots of expectations for this year.”Monaco Yacht Show 2023 begins on September 27, and ends on September 30.

Persons: Julien Hubert, Marcela Royer, ” Johan Pizzardini, Royer, ”, they’re, Guillaume Plisson, Tecnomar –, “, – it’s, Vitruvius, Francesco Paszkowski, Maurizio Paradisi, Amels, Amare, Aurelia, Lara, Pizzardini, superyachts, it’s Organizations: CNN, Monaco, Tankoa Yachts, CNN Travel, Monaco’s, Amels, Italian, Group Yachts, “, Rossinavi, SuperYacht Times Locations: Monaco, Netherlands, London, Carinthia

☆ Roman Abramovich and ex-wife Dasha Zhukova amassed a 'stupendous' art collection worth almost $1 billion, leaked documents reveal
▼ + stars: | 2023-09-23 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Roman Abramovich and his ex-wife have an art collection worth close to $1 billion, leaked documents revealed. Works by Freud, Hockney, and Picasso are among the 367 items in the collection, The Guardian reported. Before oligarchs' assets were seized by the UK last year, Zhukova took majority control of the collection. Filip FilipovicAbramovich was among seven Russian oligarchs sanctioned by the UK in March last year. His assets, including Chelsea soccer club, were frozen and his $700 million superyacht, on which pieces from the art collection are believed to be displayed, was seized.

Persons: Roman Abramovich, Freud, Hockney, Picasso, Zhukova, Dasha, OCCRP, Monet, Andrew Renton, Francis Bacon's, Abramovich, Lucian Freud's, Cate Gillon, Vladimir Putin's, Putin's, Filip Filipovic Abramovich, Meritservus Organizations: Guardian, Service, The Guardian, Goldsmiths, University of London, Chelsea soccer, Government Locations: Wall, Silicon, Cyprus, London, Ukraine, Britain

☆ The 2023 superyacht summer recap: Jeff Bezos is now king of the high seas
▼ + stars: | 2023-09-14 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

For billionaires and their celebrity friends, warm weather means it's yacht season. Four years later, Bezos is no longer Amazon's CEO, and he's spent the last few months earning a new title: king of the high seas. As 2023's yacht season comes to a close, it's clear that Bezos' brand new $500 million superyacht won the summer. AdvertisementAdvertisementYacht season's runner-up: billionaire Barry Diller's EosThe Eos, owned by Barry Diller and Diane von Furstenberg, is a yacht-season staple. The Eos docked in Venice to end its summer season, where von Furstenberg hosted the annual DVF Awards — and began furnishing one of her dry-land residences.

Persons: Jeff Bezos, David Geffen's, Goldman Sachs, Lloyd Blankfein, he's, superyacht, David Zaslav, Bezos, Koru, Lauren Sanchez —, —, that's, Sanchez, Bill Gates, Whitney Wolfe Herd, Ari Emanuel, Leonardo DiCaprio, Orlando Bloom, Katy Perry, Usher, Barry Diller's Eos, Barry Diller, Diane von Furstenberg, Horacio Villalobos, Eos, Diller, von Furstenberg, Oprah Winfrey, Gayle King, Edward Enninful, Valentino, Valentino Giancarlo Giammetti, Kris Jenner, Candice Bergen, Emma Thompson, Jason Blum, Diane Sawyer, Bryan Lourd, Giorgio Armani's, Sydney Sweeney, Kerry Washington, Geffen, it's Organizations: Service, Warner Bros, Discovery, Hollywood, Bezos, British Vogue, Creative Artists Agency, Geffen Locations: Wall, Silicon, Gibraltar, Spain, Cannes, Positano, Dubrovnik, Croatia, Mallorca, Greece, Amalfi, Venice, Venice's, Capri, Portland , Maine

☆ Activists spray red paint over billionaire Walmart heiress’s superyacht for a second time
▼ + stars: | 2023-09-08 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

CNN —Spanish climate activists sprayed red paint across a superyacht owned by billionaire Walmart heiress Nancy Walton Laurie in Barcelona on Friday, the second time the yacht has been the target of protests in the past two months. Two activists from the climate groups Scientist Rebellion and Extinction Rebellion accessed Marina Port Vell, a dock for superyachts, at 7 a.m. local time on Friday, according to a spokesperson for the organization. The Walmart heiress Nancy Walton's megayacht was spray painted this morning by climate activists in Marina Port Vell, Barcelona . Scientist RebellionA spokesperson for Marina Port Vell said that the boat had not been damaged in Friday’s action. The activists were detained by police at the marina for three hours before being released, according to a spokesperson for Scientist Rebellion.

Persons: Nancy Walton Laurie, Nancy Walton's megayacht, Port Vell, Samantha Burgess Organizations: CNN, Scientist Rebellion, Port Police Locations: Spanish, Barcelona, Marina Port Vell, superyachts, Ibiza

☆ Inside the secretive world of superyachts, where the world's elite gather to relax and broker deals away from prying eyes
▼ + stars: | 2023-09-04 | by ( Tom Porter | ) www.businessinsider.com time to read: +8 min

"They are the smallest country in the world," he said of the global community of billionaire superyacht owners. FlickrThe level of wealth of superyacht owners vastly exceeds that of even the sports stars and celebrities occasionally pictured on board. Superyacht owners can be intolerant of even the tiniest error or delay, the source said, and staff operate to precise schedules. Bruce Bennett/Getty ImagesSpy drones and bugging devicesAnd embarrassing guests are far from the only problem superyacht owners face. The privacy of the vessels, and the wealth, fame, and power of their owners and passengers inevitably draw unwelcome attention.

Persons: superyachts, David Geffen, you've, VALERY HACHE, you'd, they're, they've, Bruce Bennett, Simon Rowland, Rowlands, Spies Organizations: Service, Staff, Flickr, International Monaco, Getty, titans, UK Royal Marines, Veritas, superyachts Locations: Wall, Silicon, Yachtharbor.com, Hercules, Monaco, AFP

☆ Justice Thomas Reports Private Trips With Harlan Crow
▼ + stars: | 2023-08-31 | by ( Abbie Vansickle | More About Abbie Vansickle | ) www.nytimes.com time to read: +1 min

But Justices Thomas and Samuel A. Alito Jr. requested 90-day extensions, according to the Administrative Office of the U.S. Courts, which collects and publishes the forms. Mr. Crow treated the justice on a series of lavish trips, including flights on his private jet, island-hopping on his superyacht and vacationing at his estate in the Adirondacks. Mr. Crow also bought the justice’s mother’s home in Savannah, Ga., and covered a portion of private school tuition for the justice’s great-nephew, whom he was raising. Other wealthy friends have hosted Justice Thomas, including David L. Sokol, the former heir apparent to Berkshire Hathaway. In the years that followed, Mr. Singer repeatedly had business before the court.

Persons: Thomas, Samuel A, Alito Jr, Thomas’s, Harlan Crow, ProPublica, Crow, David L, Berkshire Hathaway, Anthony Welters, underwrote, Prevost, ” Justice Alito, Paul Singer, Singer Organizations: Administrative, U.S . Courts, Sokol, ” Locations: Texas, Savannah , Ga, Berkshire, Washington, Alaska

☆ See inside President Vladimir Putin's opulent $100 million superyacht
▼ + stars: | 2023-08-30 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +5 min

Russian President Vladimir Putin spent $32 million refitting a superyacht, a new report suggests. AdvertisementAdvertisementWhile his troops flooded into Ukraine, Russian President Vladimir Putin was spending millions of dollars on an opulent refit of one of his superyachts, according to an investigation from opposition leader Alexei Navalny's team. Advertisement Advertisement Watch: Inside Putin's secret bunker and billion-dollar palaceThe total cost of the works came to $32 million, according to the investigation. AdvertisementAdvertisement"OFAC is identifying Russia-flagged Graceful and Cayman Islands-flagged Olympia, as blocked property in which President Vladimir Putin has an interest," the US Treasury website said in a June 2022 press release. The Russian president is reportedly also the owner of the 450-foot, $700 million Scheherazade, one of the largest yachts in the world.

Persons: Vladimir Putin, Alexei Navalny's, Pyotr Stolypin, Putin, Alyaksandr Lukashenka, Russian oligarch, Roman Abramovich Organizations: Morning, Russian, Blohm, Russian Federation, US Department of, Foreign, Control, US Treasury, Ukraine Locations: Ukraine, Russian, Saint Petersburg, Hamburg, Germany, Voss, Kaliningrad, Russia, Islands, Belarus, Cayman Islands, Olympia

☆ Antalya and Bodrum: The bohemian paradise that became a magnet for superyachts
▼ + stars: | 2023-08-21 | by ( Richard Quest | Joe Minihane | ) edition.cnn.com time to read: +7 min

CNNWhile the hotels and beaches are what most travelers come to Antalya for, you don’t need to go far for proper Turkish traditions. A Turkish breakfast is something to behold. Then, you can read your newspaper or do whatever and then you can lay down and have a little nap.”Dilek Gorpe: Turkish breakfast is best consumed slowly. There is a deep respect for the landscape and the old ways, which makes Antalya feel very special indeed. CNNBack in Antalya, there’s the chance to feel that sense of wonder afforded by Bodrum’s bohemian side, but in a wholly different setting.

Persons: Dilek Gorpe, CNN Gorpe, It’s, extraordinaire Sahir Erozan, ”, didn’t, Sahir Erozan, CNN Erozan, “ It’s, it’s, Cemil İpekçi, ” Bodrum, “, Alexander the Great, Paul Organizations: CNN, Ottomans, ” Locations: Antalya, Bodrum, Europe, Turkish, Perga

☆ Jeff Bezos' hot yacht summer with fiancée continues in Croatia with Orlando Bloom, Katy Perry, and Usher
▼ + stars: | 2023-08-17 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

The pair was photographed walking and sailing with A-listers Katy Perry, Orlando Bloom, and Usher. Weeks earlier, the couple hosted a lavish engagement party on Bezos' $500 million yacht. Bezos and Sanchez were recently seen enjoying the summer weather with Katy Perry, Orlando Bloom, and Usher, according to photos published in People. Bezos, Sanchez, Perry, Bloom, and Usher were photographed walking around Dubrovnik, Croatia, according to the report, a coastal city known for being a filming location for "Game of Thrones." Just weeks ago, the couple hosted an engagement party on Bezos' $500 million yacht in Italy, according to Page Six.

Persons: Jeff Bezos, Lauren Sanchez, Katy Perry, Orlando Bloom, Usher, Weeks, Bezos, Sanchez, Perry, Bloom, it's, Lil Nas X, Bill Gates, Leonardo DiCaprio, Kris Jenner, Mackenzie Scott Bezos Organizations: MEGA, Sanchez's, Amazon, Bezos Locations: Croatia, Europe, Dubrovnik, Portofino, Italy

☆ The secret side of the Mediterranean – by boat in Turkey
▼ + stars: | 2023-08-07 | by ( Rob Hodgetts | ) edition.cnn.com time to read: +10 min

Tropez of Turkey,” but there are plentiful nooks and crannies to discover away from the crowds. Jetties jut into the emerald water enticing boat crews to dine at the small tavernas, including Captain Ibrahim’s and Rosemary Restaurant. Across the gulf on its own peninsula is pretty waterfront town Bozburun, known for its thyme honey, sponge fishing and traditional boat builders. Bestas Limani is known as Cold Water Bay as it's fed by chilly mountain springs. To the south of Fethiye is Bestas Limani, more commonly known as Cold Water Bay because of the cold springs that flow from the mountains.

Persons: Ada, Tropez of, Captain Ibrahim’s, Rosemary, Cleopatra, Mark Antony, Aphrodite, Sleepy Selimiye, Marmaris, Bükü, Mattia Sobieski, St, Nicholas –, – Organizations: CNN, Baba, Q Locations: Coast . Gulf, Gökova, Yalıkavak, Gümüşlük, Kalymnos, Fenerci, Kos, St, Tropez, Tropez of Turkey, ”, Bodrum, Orak, Maldives, North Africa, Kedrai, Değirmen, Knidos, Hisarönü, Simi, bougainvillea, Turkey, Palamut, Bençik Bay, Loryma, Hellenic, Çiftlik, Marmaris, Ekinçik, Kaunos, . Gulf, Fethiye, imageBROKER.com, Telmessos, Turkish, Tersane, Ottoman, Ruin, Wall, Kayaköy, Lausanne, Gemiler

☆ A $700 million superyacht linked to Putin was seized in Italy last year. It's being treated to a refurb while it waits, and authorities won't say who's paying for it.
▼ + stars: | 2023-08-07 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Scheherazade, a $700 million superyacht linked to Russian President Putin, is being refitted in Italy. Italy seized the yacht in 2022 following sweeping sanctions against Russia over the Ukraine war. A $700 million superyacht reportedly linked to Russian President Vladimir Putin is sitting in an Italian port and being refitted on the unnamed owner's dime, the Financial Times reported Sunday. US authorities believe the superyacht could belong to Putin, The New York Times reported in March last year. Other Russian oligarch-linked yachts that have been seized include the $81 million Alfa Nero and the $48 million Phi.

Persons: Putin, Vladimir Putin, It's, Eduard Khudainatov, Alexei Navalny, Nero Organizations: Russia, Financial Times, Marina di, Sea Group, Bloomberg, The New York Times, Kremlin, Phi, Italian Sea Group Locations: Italy, Ukraine, Marina, Milan, Russian

☆ Jeff Bezos and Lauren Sanchez's superyacht engagement party reportedly included business titans and celebs, from Bill Gates and his girlfriend to Leonardo DiCaprio
▼ + stars: | 2023-08-07 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Some big names attended, including Bill Gates, Bumble CEO Whitney Wolfe Herd, and Kris Jenner. The party took place on Bezos' $500 million yacht, which first set sail in February. Jeff Bezos and Lauren Sanchez celebrated their engagement last week — and their party aboard the Amazon cofounder's $500 million superyacht attracted some big names. Attendees included Kris Jenner, Bumble CEO Whitney Wolfe Herd, and fashion designer Sarah Staudinger, according to photos on Sanchez's Instagram. Bezos and Sanchez have been spending lots of time on their $500 million yacht, which first hit the seas in February.

Persons: Jeff Bezos, Lauren Sanchez, Bill Gates, Bumble, Whitney Wolfe Herd, Kris Jenner, Sarah Staudinger, Instagram, Paula Hurd, Page, Wendi Murdoch, Rupert Murdoch's, Ari Emanuel, Staudinger, Andrew Garfield, Tobey Maguire, Rania Al Abdullah, Queen of Jordan, Leonardo DiCaprio, Bezos, DiCaprio, Sanchez, Mackenzie Scott Organizations: Morning, Black Ops Aviation, Good Locations: Positano, Italy

☆ I became a superyacht chef without any formal training. Here's how I turned my hobby into cooking for celebrities like Pharrell Williams while traveling the world.
▼ + stars: | 2023-07-28 | by ( Claire Turrell | ) www.businessinsider.com time to read: +7 min

Since then, I've worked on 20 different superyachts in Asia, in the Caribbean, and in the Mediterranean. The yachts I've worked on have personal submarines, helipads, and spas. Dinner reservations can fall through, or once they get to the restaurant, the yacht owners may decide the vibes are off and that they no longer want to eat there. But I don't just cook for the owners, the guests, and the crew — sometimes, I cook for the owner's pets. I get my jobs through word of mouth, but to help people who are starting out to connect with other yacht chefs, I launched thesuperyachtchef.com in 2019.

Persons: Rachel Cunningham, Niki Lauda, Pharrell Williams, she'd, I've, I'd, wouldn't, must've, documentarian, Barts, Jeong Kwan, I'm Organizations: Service, Michelin, Netflix, Rachel Cunningham Chefs Locations: Asia, Caribbean, Wall, Silicon, Europe, Australia, Palma, Mallorca, Spain, France, London, Bluewater, Florida, Monaco, Seychelles, Bali, Malta, LordHenriVoton, Miami, Alaska, St, Devon, South Korea, Japan, Antigua

☆ Meet the latest way the superrich prove they're really, totally worried about the environment: $10 million electric superyachts
▼ + stars: | 2023-07-22 | by ( Cork Gaines | ) www.businessinsider.com time to read: +3 min

Nico Rosberg took the Sunreef 80 Eco, a luxury electric yacht, for a spin. Sunreef Yachts recently unveiled their second-generation Sunreef 80 Eco. The Sunreef 80 Eco solar panels are built into the body and mast of the yacht. Sunreef 80 Eco deck. Sunreef 80 Eco YouTube/Nico RosbergYou can watch the entire tour of the supertoy here.

Persons: Nico Rosberg, Rosberg, Elon Organizations: Sunreef Yachts, Sunreef, Eco

☆ Travel news: US airline staffing at ‘highest level’ in decades – so why the flight delays?
▼ + stars: | 2023-07-22 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Extreme weatherHeat waves, wildfires, floods and storms have been hitting regions across North America, Europe and Asia. Air travel woesUS passenger airline employment is now at its highest level in over two decades, says a new statement from the International Air Transport Association (IATA) as carriers build up their workforces to meet the huge demand for post-pandemic travel. However, passengers this summer are still facing “unacceptable delays and disruptions” because of a shortage of air traffic controllers in North America. If all this has got you wistful for a bygone “golden age of air travel,” however, you’d be very wrong.

Persons: you’d, we’ve, Jay Khan, Janet Yellen’s, jian, Yellen, Liesbet Collaert, she’d, Christina Ward, Wahid Kandil, you’re, they’ve Organizations: CNN, Southern, International Air Transport Association, US Federal Aviation Administration, FAA, NAV Canada, US Locations: North America, Europe, Asia, Italy, Southern Europe, Ireland, Denmark, Bulgaria, Czech Republic, Las Vegas, Chicago, Hong Kong, Beijing, Yunnan, Belgian, California, Egypt, Barra, American, Paris

☆ Russian businessman loses appeal against UK over detained superyacht
▼ + stars: | 2023-07-21 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

[1/2] Detained Russian-owned superyacht Phi is seen in West India and Millwall Docks in London, Britain March 29, 2022. REUTERS/Tom Nicholson/File PhotoLONDON, July 21 (Reuters) - A wealthy Russian businessman on Friday lost a legal challenge against Britain over the detention of his $50 million superyacht. Sergei Naumenko's 58.5 metre yacht Phi was detained in London under the government's Russian sanctions in March 2022, the first time the regulations had been used to detain a ship. He said he was targeted simply because he was a wealthy Russian, despite the fact that he had no involvement in Russian politics or any connection with Putin. Cranston accepted Shapps was wrong to describe Naumenko as a friend of Putin, but said it was "excusable political hyperbole".

Persons: Tom Nicholson, Sergei Naumenko's, Grant Shapps, Vladimir Putin, Naumenko, Putin, Judge Ross Cranston, Mr Naumenko, Cranston, Shapps, Paul Dickie, Sam Tobin, Philippa Fletcher Organizations: Millwall Docks, REUTERS, Britain, Phi, St, Britain's Department of Transport, London's, Thomson Locations: Russian, West India, London, Britain, St Kitts, Nevis, Ukraine, Russia

☆ Meet Nancy Walton Laurie, the Walmart heiress whose $300 million yacht got spray-painted by climate activists
▼ + stars: | 2023-07-17 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +1 min

Nancy Walton Laurie is the daughter of Walmart cofounder James "Bud" Walton. The 361-feet long yacht is worth an estimated $300 million and is called the "Kaos," It includes a swimming pool, cinema, spa, and aquarium, according to Yacht Bible. It also belongs to one of the wealthiest women in the world, Walmart heiress Nancy Walton Laurie. After activists spray-painted the stern of the yacht, they held up a sign that read "You consume others suffer." Here's what you need to know about Nancy Walton Laurie.

Persons: Nancy Walton Laurie, James, Bud, Walton, Nancy Organizations: Walmart, Service, Twitter Locations: Ibiza, Spain

☆ A wealthy Russian businessman claims the UK detained his $50 million superyacht to look 'tough'
▼ + stars: | 2023-07-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A Russian businessman claimed the UK detained his superyacht to look "tough," Bloomberg reported. The $50 million vessel was detained by the UK last March, though its owner hasn't been sanctioned. A wealthy Russian businessman who wasn't featured on any sanctions lists following Russia's invasion of Ukraine has claimed the UK detained his luxury superyacht to look "tough," Bloomberg reported. In late March this year, Naumenko sued the UK's transport department, asking the court to let him move vessel and award him undisclosed damages. He added that Phi's owner was "guilty by association of his passport only" and had "never been connected with anyone" who was sanctioned.

Persons: hasn't, wasn't, hadn't, Sergei Georgievich Naumenko, Vitaly Vasilievich Kochetkov, Naumenko, Grace Dean, Nigel Giffin, Vladimir Putin, Putin's, Jason Pobjoy, Grant Shapps, Phi, Putin, Pobjoy, Shapps, Royal Huisman Organizations: Bloomberg, Morning, Phi, Crime Agency, UK, Financial Times, Motiv Telecom, UK's Department, Transport, Department Locations: Russian, London, Ukraine, Russia, Canary Wharf

☆ Spanish activists vandalize superyacht in Ibiza believed to belong to billionaire Walmart heiress
▼ + stars: | 2023-07-17 | by ( Mitchell Mccluskey | ) edition.cnn.com time to read: +2 min

CNN —Spanish environmental activists spray-painted a superyacht moored in Ibiza on Sunday. Activists from the environmental group Futuro Vegetal posted a video showing them standing in front of the superyacht named Kaos, holding a banner that says: “You Consume Others Suffer.” The activists then sprayed the vessel with red and black paint. According to multiple shipping industry news sites the yacht belongs to Nancy Walton Laurie, the billionaire heiress of Walmart. The two protesters were detained by the Spanish Civil Guard on Sunday morning and were expected to be released Monday, according to Futuro Vegetal. “The action puts the finishing touch to the “Jets and Yachts, the party is over” campaign, convened by Extinction Rebellion Ibiza who demand the prohibition of private jets and the end of luxury emissions,” Futuro Vegetal said.

Persons: ”, Nancy Walton Laurie, Laurie Organizations: CNN, Sunday, Walmart, Spanish Civil Guard, “ Jets, Yachts, Extinction Locations: Spanish, Ibiza, Spain

☆ The daughter of a sanctioned Russian billionaire says she's the true owner of a $68 million superyacht bought by ex-Google CEO Eric Schmidt
▼ + stars: | 2023-07-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Eric Schmidt bought a superyacht linked to a sanctioned Russian billionaire at auction in June. The Russian mogul has denied owning the vessel – but his daughter now says she's its true owner. Former Google CEO Eric Schmidt recently paid $67.6 million for a stranded superyacht that has been linked to a sanctioned Russian billionaire. The Russian chemical mogul's daughter now says she's its true owner and wants it back, according to a report by Bloomberg. But on Wednesday, lawyers for Guryev's daughter Yulia Gurieva-Motlokhov filed an appeal saying that she was the vessel's true owner, Bloomberg reported.

Persons: Eric Schmidt, Schmidt, Nero, Andrey Guryev, Guryev, Alfa Nero, Vladimir Putin, Guryev's, Yulia Gurieva, Motlokhov Organizations: Bloomberg, Morning, US Treasury, Alfa, EU, FBI, Trust, Flagstaff Trust Locations: Russian, Antigua, Barbuda, Ukraine, Caribbean, Flagstaff

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