PHOTO: Nick Cross/flickr

Illegally Traded Teak Claims Under Investigation

A non-profit organization alleges that Princess Yachts and Sunseeker have what’s termed illegally traded teak aboard their yachts. This means wood possibly sourced from illicit logging. The organization claims the illegally traded teak comes from two subcontractors. Both builders say they have no knowledge of wrongdoing and are investigating the claims. The Environmental Investigation Agency (EIA) Continue reading

Palumbo Group Takes Over Mondomarine

Due to an agreement finalized in the last days of 2017, the Palumbo Group is now in charge of operations at fellow Italian megayacht builder Mondomarine. The agreement, approved by an Italian bankruptcy court and labor unions, is just for six months. However, it allows nine Mondomarine employees to return to work as of January Continue reading

Momentum Series: Built in Italy, Made for Going Global

The Italian Sea Group clearly sees not just the United States, but also the rest of North America as an important market. Similarly, Central and South America are in its sights. The builder believes a quite specific series from its Admiral brand is especially ripe for these customers. It’s the Momentum series, made up of long-range Continue reading