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50 Million Dollars Yachts

Find the perfect 50 million dollars yachts.

Indulge in the zenith of maritime opulence with our exclusive selection of $50 million yachts for sale. These extraordinary vessels are masterpieces of design and engineering, crafted to deliver an unmatched yachting experience. Each yacht in this premier category boasts expansive and meticulously designed interiors, featuring palatial staterooms, state-of-the-art entertainment systems, and gourmet kitchens that cater to the most refined tastes. The exterior spaces are equally breathtaking, with sprawling decks, infinity pools, hot tubs, and luxurious alfresco dining areas perfect for both relaxation and sophisticated entertaining. Equipped with the latest navigation and performance technologies, these $50 million yachts ensure a seamless and exhilarating journey. For those who demand the absolute best in luxury and sophistication, our collection promises an unparalleled lifestyle of elegance, comfort, and adventure on the high seas.

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As Far As You Can Sea: World’s Largest Superyachts

Multimillion-dollar mega yachts.

by Emma Treagus Updated on May 22, 2024

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With onboard swimming pools, cinemas, helicopter landing pads, and spas, the world’s largest superyachts have more facilities than your ‘average’ five-star hotel.

Owned by some of the world’s wealthiest people—along with a few anonymous owners who’d prefer to keep their luxury transport a secret—these mega yachts redefine the word “boat” into something indescribably sleek, stylish, and seriously impressive. 

If superyachts are your thing, you’ll want to read on for all the facts and figures on all of the largest yachts in the world.

The 26 largest yachts in the world

Multimillion-dollar mega yachts: Our ranking methodology

A superyacht or mega yacht is typically a motor yacht or sailing yacht with a length of 30 meters (100 feet) or more. For this ranking, we looked at the superyachts and luxury expedition mega yachts that are used privately or made available for charter. We excluded so-called ‘residential superyachts’ (think Njord and The World), which are essentially luxury apartment buildings at sea where people own private residences inside the superyacht rather than the whole yacht. By researching diverse, reliable sources like Wikipedia and the Superyacht Times, we compile a list of the largest yachts in the world.

Curious about other striking superlatives? Check our round-up of the most expensive cars in the world and the most expensive private jets in the world . They are both perfectly good alternatives to owning a yacht. And if you prefer to stay home, we’ve ranked the biggest homes and the most expensive houses in the world to give you some inspiration too.

26. Y721 (aka Koru) | 417 feet—127m

Ever wonder where Jeff Bezos spends his downtime? As of today, we’re predicting it to be on his $500 million superyacht. Y721—nicknamed Koru—is 127m long. And featuring three sky-high slender masts, Koru is said to be the largest sailing yacht in the world . 

With dark exteriors and natural wooden decks, Koru is inspired by another one of Bezos’ yachts—the Black Pearl. The clean lines and classically curved bow speak to an understated elegance despite the yacht’s mammoth size. While a long line of portals indicates at least 9 guest cabins. In light of all the secrecy surrounding Koru, we doubt Bezos will ever charter her out, but we can still dream.

25. Al Mirqab | 436 feet—133m

Adorned with cascading chandeliers and gold accents, Al Mirqab is renowned for its unrivaled interiors. Surrounded by suspended glass artworks, a grand staircase floats throughout the four floors. And inspired by authentic Arabian styles, the magnificent superyacht is reminiscent of a magic carpet ride through the seas . 

Built for the former Prime Minister of Qatar, Peterswerft-Kusch spared no expense in delivering Al Mirqab to an impossibly high standard for luxury. The large swimming pool is a standout feature as it opens up into the sea, creating the ultimate playground for adults. Al Mirqab has a capacity for up to 60 guests and is manned by an equal number of crew. Although you have to be invited by the politician himself as Al Mirqab isn’t available for private charter.

24. Serene | 439 feet—134m

Adeptly named, the magnificent superyacht embodies the serenity of a life at sea. Serene was built in Italy for a Russian owner in 2011. She was leased to Bill Gates for the Summer in 2014 for $5 million per week. 

Designed by Reymond Langton, the 134m mega yacht marries elegant sophistication with state-of-the-art technologies. The seven decks leave ample space for guests to soak in scintillating views. While the underwater viewing room—nicknamed the Nemo room—is a permanent gallery of resplendent sealife. The real-life snow room makes up to four inches of snow. And whilst this may seem odd when your billionaire boss asks for snow—you make it snow.

23. Crescent | 445 feet – 136 m

Yet another Lurssen masterpiece, Crescent pays homage to classic naval designs with traditional architecture and elegant interiors. Formerly named Project Thunder, she was built in Germany and delivered to Igor Sechin in 2018. The Russian oligarch’s superyacht was seized by Spain after sanctions were placed on Russia in 2022. 

Crescent features low bulwarks and full-height windows to maximize the view from the center of the boat. Her distinctive wing station provides unrivaled views for up to 18 guests. But don’t get your hopes up—Crescent is strictly for private use only and isn’t available for charter. 

22. Savarona | 446 feet – 136m

Savarona is the second-largest yacht built by Blohm & Voss and spends most of her time in the Mediterranean. This luxury superyacht is one of the oldest in the market — a perfect fusion of traditional charm and modern facilities. 

Previously named Gunes Dil, Savarona was designed by Cox & Stevens, with interior design carefully handled by Donald Starkey. She’s available to charter on a weekly basis and has been refurbished over the years. Back in the day, her cost price was $4 million, and in 1989, she was chartered by Kahraman Sadikoglu, owner of the Turkish Sadikoglu Group, who spent an estimated $50 million on refurbishing her from top to bottom.

21. Flying Fox | 446 feet – 136m

Flying Fox is known as the most expensive charter yacht in the world , and a week aboard will set you back around $3 million. Chartered by the one and only power couple Beyonce and Jay-Z in 2021, it’s filled to the brim with all of the luxury facilities you could ever possibly want. 

The Flying Fox is rumored to be owned by Jeff Bezos, although that’s a claim that’s never been totally certified. She spends most of her time in the Mediterranean, specifically Cannes, Capri, and Sardinia, although she’s recently visited Norway, too. She can accommodate the largest helicopters on the market, and it reportedly took more than 50 meetings with her owner for interior design to be completed.

20. Rising Sun | 454 feet – 138m

The Rising Sun’s original owner, Larry Ellison, CEO of Oracle Corporation, sold her in 2010 as he considered her too large. Famously used by David Geffen for self-isolation, Rising Sun has also been a popular hang-out spot for celebrities like Oprah Winfrey and Beatrice, the Princess of York. 

She’s a Superyacht with impressive attention to detail like interiors kitted out in teak and onyx and endless features like a full gym, a large wine cellar, a sauna, and a spa. She’s got a full-size basketball court that doubles up as a helicopter landing pad and a private cinema for those long evenings spent at sea.

19. Al Salamah | 457 feet – 139m

Al Salamah is part of the Omani Royal fleet and started her very secretive life in Genoa. Known as the world’s biggest superyacht right up until 2016, she’s a sleek masterpiece of a ship, with a distinctive cream color and beach club design. 

Al Salamah does everything in multiples, from the five galleys onboard (the main galley, a bakery, a crew galley, an owner’s diet galley, and an Arab galley), three hospitals (one for the owner, one for guests, and one for the crew) and 2,000 sqm of floor space. She was put on sale briefly for $280 million USD, before being delisted and instead given as a gift to the Crown Prince of Bahrain. 

18. Solaris | 458 feet – 139m

Everything about Solaris was supposed to be kept a secret when she was being built—a secret that didn’t last long when her huge size was spotted undergoing sea trials in the North Sea. One of this Superyacht’s main attractions is her beach club on the top floor: the perfect spot for relaxation during those long days out at sea. 

That beach club comes complemented with endless other stylish amenities, like a large helipad, sun deck, and a crane to launch tenders, toys, and subs. Interior design is largely unknown, but, if it’s anything as sleek and white as its exteriors, it’s sure to be impressive.

17. Scheherazade | 459 feet – 140m

Two helicopter landing pads, two outdoor Jacuzzis, and two outdoor fire pits: Scheherazade doesn’t hold back with not only the essentials but also the luxuries. Previously named Lightning, “Scheherazade” is mostly associated with a female character in the Middle Eastern folk tales in the series One Thousand and One Nights. 

Not much is known about this superyacht, and even her birth and building process were referred to under a codename: Project Lightning. No one involved in her creation, even Lurssen, has revealed anything about her interiors or her owner. All that’s really known is that she sailed from Germany to Norway initially after completion. 

16. Ocean Victory | 460 feet – 140m

Ocean Victory has traveled all over the world, from Europe to Southeast Asia and back again. Owned by Russian billionaire Viktor Rashnikov, she’s the upgraded vessel to follow his purchase of the 76-meter Ebony Shine. 

She’s one designed with pure luxury in mind, from the six individual swimming pools onboard to the 300-square meter spa area. She’s beautiful both inside and out, with a unique concept designed by Espen Oeino and interior designer Alberto Pinto. The largest superyacht ever built in Italy, Ocean Victory shows some of the finest in the world when it comes to premium quality adventures at sea.

15. Yas | 463 feet – 141m

Yas is known best for its seamless and rather unusual design — one that’s a little different from most superyachts out there. The owner of Yas wanted a yacht that lived up to his own heritage; one with a backbone reminiscent of the navy and with abstract lines throughout. 

He chose an existing boat in Abu Dhabi, which was deconstructed within the region before being shipped off and renovated into the wonder that it is today. The Yas yacht was originally a Dutch navy frigate, which you’d never guess from strolling around onboard today.

14. Nord | 465 feet – 142m

Nord’s distinctive bow design has never been seen before on a yacht. That’s one of the first things you’ll notice about her. The next thing you’ll notice is her unusual design, which verges on battle-esque and has been called “ a warship wearing a tuxedo ” by Dan Lenard of the Italian design studio Nuvolari-Lenard. 

She’s one of the best superyachts out there for fun, with a sports and diving center on the lower deck, a swimming pool higher up, overlooking the ocean, and a fleet of tenders. She was designed for global exploration: a yacht that will calmly cruise her way all across the world.

13. Sailing Yacht A | 469 feet—142.8m

Challenging the status quo and pushing design boundaries, Sailing Yacht A is an enigma. The sail-assisted superyacht was built in Germany and delivered to Russian tycoon Andrey Melnichenko in 2017. However, she was seized by the Italian police force, Guardia di Finanza, in 2022 after sanctions were placed on Russian businessmen following Russia’s invasion of Ukraine. 

Distinguished by soaring rotating carbon fiber masts, Nobiskrug’s hybrid approach to superyachts makes Sailing Yacht A more eco-conscious than other luxury yachts of her size. The u nderwater viewing pod molded into the keel speaks to her unrivaled innovation. And many balconies are enclosed by some of the largest pieces of curved glass ever made. 

12. El Mahrousa | 478 feet – 146m

El Mahrousa had a few different names in her time, ranging from the translated “The Protected” to El Horreya, which in Arabic translates to “Freedom.” It’s not surprising that she’s had more than one name when you take into account her age. As the oldest superyacht in the world, she’s undergone a lot of restoration over time, including multiple lengthenings and faster engines. 

She was renamed back to El Mahrousa in 2000 and gained even more recognition for being the first ship to cross the new Suez Canal extension in 2015. Back in her original days, she was built on the River Thames and took her first trip in 1867.

11. OK | 479 feet—146m

Delivered in Japan in 1982, OK is one of the largest and most unique superyachts in the world. Sprawling over 479 feet, the water giant is engineered to submerge almost seventy percent. This is accredited to the work done by Karmarine Shipyard. While the majority of the vessel was built by Oshima Shipping, it was privately converted to a semi-submersible yacht in Turkey. 

The superlative finishing on OK superyacht was designed by Timur Bozca, winner of the Younger Designer of the Year award in 2015. The blueprint being as many games as possible. The extraordinary vessel has the uncanny ability to hold over seventy toys, including a sailing yacht, a sea plane, tenders, buggies and even a tennis court.

10. Opera | 480 feet—146.4m 

Like many of the most majestic water titans, Opera was delivered by Lurssen in Germany and built for Abu Dhabi royalty. This time, the owner is Sheikh Abdullah bin Zayed Al Nahyan, son of the founder of the United Arab Emirates. And while it may not be quite as astronomical as Lurssen’s previous builds—Azzam, Blue and Dilbar—the streamlined vessel is equally impressive onboard. 

The three-story superyacht proves large enough for a pair of helipads and two swimming pools, amongst many other toys, while simultaneously making room for up to 48 guests and 80 crew members. When it comes to the interior, details are sparse, but we do know that it was designed by Terence Disdale, a London firm renowned for creating bespoke luxury spaces. 

9. Prince Abdulaziz | 482 feet – 147m

The Prince Abdulaziz’s yacht was ordered by King Fahd, who named her after his son Prince Abdul Aziz. Now, she’s owned by his brother, Abdullah. Just one of the yachts owned by the Saudi royal family, she’s spotted frequently throughout Europe, especially in Cannes, where the royal family owns a property. 

She’s been redecorated once — in 2007 — in a project that took 15 months to complete, without even taking into account the rest of the ship’s upkeep. The Prince Abdulaziz is known for its combination of bold colors and fusion of traditional and modern design, thanks to its influence from the late David Hicks.

8. A+ | 483 feet – 147m

What do you do when the name “A” is already taken for your superyacht? Choose the next closest thing: A+. Previously named Topaz, this superyacht was the world’s fourth-largest luxury yacht when she was built, before being stripped of that particular title only a few years later. 

Nevertheless, she’s a seriously impressive superyacht, with endless facilities like a large jacuzzi, double helicopter landing pads, a swimming pool with a swimming platform and underwater lights, as well as a fitness hall, cinema, and a large conference room. She’s also well equipped with water toys, like jet skis, inflatable boats, a catamaran, and even a mini-submarine.

7. Al Said | 508 feet – 155m

Another Superyacht built, shrouded in secrecy, Al-Said was referred to as “Project Sunflower” the entire time she was being created, right up until she was delivered to her owner in 2008. Not much is known about Al Said, from her movements through to her amenities — although she is known to have a huge concert room with space for a full 50-person orchestra. 

Currently, she’s flying the flag of Oman and has spent a lot of time in its surrounding waters. Her interior was styled by British designer design house RWD, with exterior design being credited to Espen Oeino. When she was delivered to the Sultan of Oman, she replaced a previous ship of a smaller size. 

6. Dilbar | 511 feet – 156m

Dilbar, or Project Omar, as it was originally known as, is another superyacht designed with the help of exterior expert Espen Oeino, but with interiors strikingly designed by Andrew Winch. Dilbar is famously known as the world’s largest yacht by gross tonnage (interior volume) but as the fifth-longest superyacht in the world. 

She’s home to a spa pool and beach club, as well as a large private cinema, spacious cabins set high on the main deck, a spacious dining room, and a salon with its own piano. She’s just as classy and beautiful on the inside as she is on the outside.

5. Blue | 527 feet—160.6m

Sunday blues simply cease to exist on one of the world’s most extravagant superyachts. The elegant behemoth was built for member of the ruling family of Abu Dhabi and billionaire, Sheikh Mansour bin Zayed Al Nahyan in 2022. Valued at over $600 million, Blue is one of the most expensive superyachts in the world. And with a strong emphasis on the environment, this superyacht is also one of the most sustainable. 

Blue strives to be as environmentally friendly as possible. She is equipped with a highly efficient Diesel-Electric Hybrid Propulsion Concept developed by Lürssen’s own engineering specialists. And the wastewater treatment plant allows water to be disposed of in drinking water quality.

4. Dubai | 531 feet – 162m

Dubai had multiple names in the planning stages—including Panhandle, Platinum, and Golden Star. Owned by the ruler of Dubai, it was aptly named after its home country and comes with all of the luxurious amenities you’d expect from such a name. 

The Dubai comes complete with a huge swimming pool and two jacuzzis. Further down, you’ll find a large dining room with striking blue and burgundy decor and space for up to 90 guests. Dubai usually spends her time moored at Sheikh Mohammed’s private island in front of his summer palace in Dubai. She’s basically the definition of a floating palace.

3. Eclipse | 533 feet – 162.5m

It took around five years for Eclipse to be built from start to finish. While she was always designed to be a huge, luxurious Superyacht, the focus was more on decking it out appropriately rather than breaking any records. An award-winning superyacht, she’s incredibly spacious, with endless rooms to explore and a sleek, neutral color palette running through. 

The Eclipse’s owner, Roman Abramovich, was more focused on facilities: he wanted more than one helicopter pad and a large swimming pool, too. Other than that, designer Terry Disdale had free reign for the rest of the superyacht. It’s just as much a clean piece of architectural styling as it is a stunning experience on deck.

2. Fulk Al Salamah | 538 feet – 164m

Fulk Al Salamah translates to “Ship of Peace” and that’s something that sounds like a given when you’ve taken a look at this superyacht’s incredible layout. Developed under the codename Project Saffron, Fulk Al Salamah is more of a support vessel than she is a typical superyacht. 

While she might still come complete with all of the necessities for a particularly relaxing voyage, she’s more so known for being a transport ship for the Royal Navy of Oman. She’s also used as a sort of friendship boat — pun intended — and is often sailed across the world with the intention of strengthening ties with the Sultanate. In some ports, influential people are welcomed onboard.

1. Azzam | 590 feet – 181m

Most superyachts in the top 10 category have a few mere inches between sizes, but the Azzam shoots far ahead with a large amount of extra length. The largest superyacht in the world, she was never designed to win the title — rather just to be a sleek and elegant vessel. Azzam was crafted backward, with the plans for her interior confirmed long before her exterior was fully signed off. 

Her length only came to be as such to incorporate everything required for the interiors, which added an extra 35 meters to her overall size. She’s also designed to look smaller than she actually is, with a blend of indoor and outdoor living. It took more than 4,000 people to build Azzam , clocking up six million man-hours over a period of four years.

The largest yachts in the world: Conclusion

The largest yachts in the world are:

• Azzam—590 feet
• Fulk Al Salamah—538 feet
• Eclipse—533 feet
• Dubai—531 feet
• Blue—527 feet
• Dilbar—511 feet
• Al Said —508 feet
• A+—483 feet
• Prince Abdulaziz—482 feet
• Opera—480 feet
• OK—479 feet
• El Mahrousa—478 feet
• Sailing Yacht A—469 feet
• Nord—465 feet
• Yas—463 feet
• Ocean Victory—460 feet
• Scheherazade —459 feet
• Solaris—458 feet
• Al Salamah—457 feet
• Rising Sun—454 feet
• Flying Fox—446 feet
• Savarona—446 feet
• Crescent—445 feet
• Serene —439 feet
• Al Mirqab—436 feet
• Y721 (aka Koru)—417 feet

The most expensive yacht in the world

The fact that the History Supreme, the world’s most expensive superyacht, comes coated in gold, is only part of the reason for its high cost. A superyacht with a real-life Midas touch, it was sold to an anonymous Malaysian businessman for $4.8 billion. 

Robert Kuok, the richest Malaysian businessman, is the rumored owner of History Supreme, but no one has confirmed for sure. The History Supreme also comes with plenty of other impressive touches: a master bedroom decked out in platinum, a wall feature made from meteoric stone, and a genuine T-Rex dinosaur bone, to add to the list. 

She took three years to build from scratch and comes with 10,000 kilograms of solid gold and platinum. Other seriously luxe features are her 68 kilograms 24-carat gold Aquavista Panoramic Wall Aquarium and a liquor bottle adorned with a rare 18.5-carat diamond . The base of the vessel comes wrapped in gold, too.

Frequently asked questions about the world’s largest yachts

The largest yachts in the world are owned by Sheikh Khalifa bin Zayed Al Nahyan, Sultan Haitham bin Tariq, Roman Abramovich, Sheikh Mohammed bin Rashid Al Maktoum, and Alisher Usmanov. Our guide tells you more about all the biggest yachts in the world .

At 417 feet (127 m), Amazon founder Jeff Bezos’ sailing yacht, Koru (formerly Project Y721), is one of the world’s largest yachts.

The 181-m (590 ft) Azzam is the world’s longest yacht in length, but the 156-m Dilbar has a much larger internal volume (measured in Gross Tons) at 15,917 GT (Gross Tons) versus 13,136 GT for Azzam. As such, Dilbar is the world’s largest yacht in volume. Read our full guide to discover the largest yachts in the world .

The biggest yacht in the world is the Azzam , which has an estimated cost of $600 million. She’s owned by Sheikh Khalifa bin Zayed Al Nahyan and is not currently for sale.

In terms of the number of megayachts, the largest superyacht-owning country is the United States. Nationality-wise, beyond American, an increasing percentage of superyacht owners are Turkish, Greek, Emirati, German, Australian and Dutch.

About the author

Emma Treagus

Women’s fashion & travel editor.

A former fashion assistant and budding entrepreneur who calls the world her home, Emma writes many of Luxe Digital’s women’s style and travel stories, drawing on her passion and experience for slow fashion alongside an appreciation for current trends. When she’s not getting her way with words, you’ll find her exploring a new city (at quite a walking pace)—locating the nearest sushi restaurant or devouring a book on the beach.

Learn more about Emma Treagus

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The World's Most Expensive Yachts Available for Charter in 2024

By Katia Damborsky |   Last Updated 20 December 2022

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Thinking about renting a multi-millior dollar superyacht in 2024? Discover what you can expect on board the world’s most expensive luxury yachts available for superyacht charters   for more than $1 million per week. 

Most expensive charter yachts in the world in 2024:

Need more information?

There’s no doubt that the latest superyachts of the charter fleet offer the finest in luxury living, with a selection of cutting-edge amenities and state-of-the-art on-board facilities. From spacious swimming pools and plush cinemas to impressive basketball courts and underwater observation lounges, take a look at the world’s most expensive yachts which you can privately rent in 2023. 

Best for: an action-packed vacation with all the family

Coming in at 446ft (136m) superyacht FLYING FOX  is the world’s largest superyacht for charter. She features accommodation for 22 guests in 11 suites. Across her five colossal decks, she houses a pair of helipads that are large enough to accommodate some of the biggest choppers on the market.

FLYING FOX is the world's largest superyacht for rental

The superyacht’s aft deck is home to a 12m swimming pool, where you can slide in and soak up spectacular views from a prime vantage point. The beach club of Flying Fox is particularly noteworthy, as it boasts a split-level spa with a hammam, steam room, Cryosauna and treatment room. 

This majestic vessel also features a large indoor jacuzzi, with access to the sea lounge and a scuba-diving room. Take a look at pictures inside superyacht Flying Fox for a closer look.

Best for: jaw-dropping interiors and luxury amenities

Marking her debut on to the charter fleet in 2022, the 115m (387ft) Lurssen megayacht AHPO has been turning heads with her supercar-inspired exterior and vast deck spaces.

Her chic interiors come from the boards of Nuvolari Lenard, showcasing elegant refinement that borrows influences from the natural world, with plenty of calm colors, soft lines and organic patterns that help create a warm and convivial atmosphere that can be felt as soon as you step onboard.

Highlights on board include a beach club spa, 12-seater cinema with sound-proofing for the very best acoustic experience and vast 8-meter heated swimming pool via an innovative heat recovery system from its generators, as well as large well-equipped gymnasium up on her sky deck affording glorious views.

She provides accommodation for 12 guests across 8 cabins, including a sprawling full-beam owner’s duplex.

Best for: epic exploration in opulent surrounds

Legendary Lürssen superyacht OCTOPUS made serious waves when it was announced she was going to be available for charter for the very first time from January 2022.

A pioneering 126m vessel that was the largest explorer yacht ever built at the time of her launch in 2003, she's been mostly shrouded in secrecy until now. Up to 26 charterers in 13 elegantly appointed suites will have the joy of chartering OCTOPUS, with the primary guests being able to luxuriate in their own private bar, Jacuzzi, alfresco dining area and elevator in the Owner's suite.

Superyacht OCTOPUS is an iconic explorer yacht, available for charter in 2022 for the very first time

Packed bow to stern with seriously impressive charter-focused amenities, guests can quench their thirst for adventure in the utmost style and luxury. She boasts a showstopping aft swimming pool encircled by loungers, as well as a gorgeous glass-bottomed observation lounge, spa, library, basketball court, cinema and even a sound studio.

Best for: corporate yacht charters

Superyacht DREAM is a mammoth vessel that offers expansive and intimate areas for dining, sunning and relaxing, making her the ideal choice for a corporate yacht charter. A true declaration of superyacht style, this luxury yacht was built in 1997  by Olympic Yacht Services before being carefully refitted in 2018 to keep her in flawless condition. Her exteriors are crafted by Studio Vafiadis and interiors are helmed by CQStudio.

Sleeping up to 36 yacht charter guests across 22 plush rooms (one master suite, 2 VIP staterooms, 6 double cabins, and 9 double/twin cabins) she truly is a yacht of epic proportions. And with such colossal size comes an extraordinary number of amenities: including a sundeck swimming pool, helipad and swim-up bar, plus a multitude of wellness and beauty facilities. Whenever the open water beckons, peruse her veritable flotilla of toys and tenders for a rip-roaring ride.

Best for: vast interior and exterior spaces

Representing Benetti’s longest yacht built to date, the 108-meter superyacht IJE is a sleek charter platform offering endless possibilities for her guests. Whether that’s lounging in her chic interiors or taking advantage of more than 1,000 square-meters of outdoor space; from her bridge deck fire pit to her vast full-beam beach club the guests will be spoiled for choice. 

The yacht’s 3,367 GT of interior volume also ensures there’s plenty of sleeping space, with accommodation for 12 charter guests in no less than 11 cabins, along with 28 dedicated crew members on hand to offer exceptional 5-star service at all hours of the day and night.

Guests will particularly delight in her beautiful light-infused interiors, equipped with a wellness suite where guests can enjoy a wide range of treatments, as well as a gymnasium that overlooks the water thanks to a hydraulic fold-out platform on the yacht’s starboard side. There is also a dedicated movie theater with an array of wide plush sofas – perfect for lounging with a bucket of popcorn in front of your favorite film.

Best for: cruising in comfort

Luxury yacht LANA provides accommodation for up to 12 guests in eight cabins. She is replete with exciting onboard amenities, including a beach club with spa facilities and a continuous connection to the ocean, thanks to a swim platform and twin fold-out sections on both sides of the beam.

The yacht enjoys tasteful and minimal interiors from Benetti ’s in-house team, who have made full use of the tall windows and subsequent infusions of light. The owner’s suite onboard LANA is particularly lavish, with fold-out balconies flanking the space, large private dressing rooms and an interconnecting bathroom.

Best for: Award-winning interiors and layout

Boasting a wealth of amenities, highly-trained crew and unmistakable Feadship pedigree, the 97m (317ft) superyacht FAITH is one of the finest yachts in the fleet and supremely worthy of her charter price tag.

Delivered in 2017, and refitted in 2022, this award-winning yacht is brimming with crowd-pleasing features. Nowhere is this more evident than on her main deck aft, where you’ll find an impressive 9 meter by 3.5 meter glass-bottomed swimming pool, which floods light into her vast beach club below replete with a large bar and fold-out sea terraces for unparalleled waterside living.

FAITH is one of the most sophisticated superyachts ever to grace the world’s oceans

Additional highlights include a mammoth games deck with facilities for football, tennis, volleyball, paddle tennis, basketball and golf, as well as a dedicated wellness center with a beauty treatment room, spacious Hammam and snow room – ideal for muscle therapy, plus a sundeck gymnasium with indoor/outdoor layout. There’s also two movie theaters for cozy nights in, either inside or under the stars. 

She provides accommodation for 12 charter guests across 7 suites, including a dedicated owner’s deck with skylight and fireplace, plus a crew of 32 are on hand to offer the highest level of service. The yacht also comes with three on-board chefs trained in different disciplines, offering a dining experience unmatched by other yachts in the charter fleet.

Best for: a lavish superyacht vacation

Since 95m superyacht MADSUMMER made her charter debut in 2019 she has been met with critical acclaim, awarded with a continous string of accolades for her cutting edge exterior and interior design. Showcasing a riot of color, she sleeps up to 12 guests in 10 cabins all fitted with Calcutta-marbled ensuites, with her bridge deck master suite featuring its own private terrace. To ensure every possible guest whim is met, she also accommodates up to 28 members of crew.

Showcasing cutting-edge design and spectacular amenities decked in a kaleidoscope of colour, superyacht MADSUMMER is a one-of-a-kind vessel.

Upon boarding charter yacht MADSUMMER, the only words guests will be uttering is an endless murmur of wow — she's nothing short of extraordinary. Her standout amenities (of which there are many) include a 12m swimming pool with Jacuzzi, cinema, sprawling beach club, extensive spa facilities, and even a room completely dedicated to diving.

And when you are keen to jump off-board, superyacht MADSUMMER's glorious selection of water toys and tenders (which includes an uber-sleek 11m limo tender and Husky seaplane) will keep you occupied.

Best for: entertaining in style

Luxury yacht LADY S   comes from one of the most revered shipyards in the world: Feadship. She is also one of the most sought-after yachts on the charter market.  Her interiors are by the esteemed Reymond Langton Design, who has styled the yacht to reflect a contemporary jewelry box with plenty of crystals and shimmering surfaces. 

Offering accommodation for 12 guests in seven suites, superyacht LADY S's most impressive onboard highlights include her duplex IMAX cinema, an amenity that had never previously before featured on a yacht. She also volunteers two helipads, and the one positioned aft doubles as a basketball court.

Hard to miss on her main deck aft is an enticing swimming pool that offers separate shaded and sunning areas. Below it, the beach club is suffused with light, featuring generously sized large side-opening balconies.

Want to see her sheer size in perspective? Take a look at this video of superyacht Lady S in Portofino .

Best for: Endless entertaining in a supremely opulent setting

Luxury yacht AQUARIUS artfully fuses iconic Feadship design with contemporary flair throughout her indoor and outdoor spaces. With her exterior craftsmanship styled by De Voogt, and her deluxe interior by Sinot Yacht Design, she is a superyacht that has a lot up her sleeve, waiting to be discovered. 

She comfortably accommodates 12 guests in 7 gracefully designed staterooms, comprising a master suite and 6 VIP staterooms, all kitted out with state-of-the-art facilities to ensure the best possible charter experience.

Her splendid spaces are copious, but highlights worth mentoring are absolutely her capacious owner's penthouse, featuring its own private aft balcony, cinema suite, impressive 6.5m swimming pool cum dancefloor, as well as her extensive array of water toys and tenders. This includes a custom glass-roofed Venetian taxi and Riva tender.

Best for: extravagant interiors and premium exterior living

Joining the fleet of luxury yacht rentals in 2024, 400.3ft (122m) superyacht KISMET offers an opulent luxury yacht charter experience with highly indulgent interiors and exteriors that blend seamlessly to create a unique and inviting environment.

Featuring a plethora of key highlights including a state-of-the-art cinema, a deck Jacuzzi and swimming pool, a grand piano, and a spa-quality health and wellness center, this striking Lurssen charter yacht is the perfect match for charter guests wanting the utmost luxury and indulgence.

KISMET is spacious and packed with things to do making her fully primed for guests seeking a luxury charter at sea

Boasting collaborative design input from well-known designers Nuvolari Lenard and Reymond Langton Design, she can comfortably accommodate up to 12 charter guests in a well-appointed eight-cabin layout.

Superyacht KISMET offers the ultimate yacht charter experience with an ongoing list of amenities to be enjoyed across the decks and beyond.

If you would like more information about any of these superyachts, please reach out to your preferred yacht charter broker .

Are you considering renting a luxury yacht for a crewed yacht charter vacation? You can view and compare the complete fleet of superyachts for charter  to find the best one to suit the needs of you and your charter party. 

Be sure to check out our yacht charter destination features for inspiration to plan to help you plan your dream superyacht charter vacation. 

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SUPERYACHTS WHICH COST OVER $1 MILLION PER WEEK TO RENT:

136m Lurssen 2019

126m Lurssen 2003 / 2024

122m Lurssen 2024

115m Lurssen 2021

108m Benetti 2019

107m Olympic Yacht Services 1997 / 2022

97m Feadship 2017 / 2022

95m Lurssen 2019

95m Golden Yachts 2020

93m Feadship 2019

92m Feadship 2016

92m Neorion 2004 / 2023

92m Oceanco 2014 / 2023

90m Lurssen 2010 / 2024

90m Oceanco 2018 / 2024

89m Oceanco 2017

89m Oceanco 2015 / 2023

86m Oceanco 2010 / 2018

85m Lurssen 2011 / 2019

85m Lurssen 2013 / 2022

84m Feadship 2015 / 2020

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Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-meter-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Cos. Inc., Navium Marine, and Convex, Reuters reported last week.

Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

“Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be “several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events.

“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

Photograph: Italian Firefighters scuba divers bring ashore in a blue bag the body of one of the victims of the UK flag vessel Bayesian, on Wednesday, Aug. 21, 2024. (AP Photo/Salvatore Cavalli)

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• Categories: International & Reinsurance News Topics: British Marine , Convex Group Ltd. , marine insurance , marine liability insurance , Navium Marine , NSI Insurance Group , OMAC , protection and indemnity (P&I) , superyacht insurance , The Travelers Cos. , yacht insurance
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Sunk Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say

FILE PHOTO: Bayesian, a 56-meter-long sailboat, which later sank off the Sicilian capital Palermo, is seen in Santa Flavia, Italy August 18, 2024 in this picture obtained from social media. Baia Santa Nicolicchia/Fabio La Bianca/via REUTERS/File Photo

By Noor Zainab Hussain and Carolyn Cohn

LONDON (Reuters) - Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values," said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?"

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

Copyright 2024 Thomson Reuters .

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Sunk superyacht likely to cost insurers at least $150 million, experts say

By Noor Zainab Hussain and Carolyn Cohn

LONDON (Reuters) - Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values," said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?"

(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)

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Sunk Mallorca-based superyacht likely to cost insurers at least $150 million, experts say

Skipper back on the island, mallorca-based captain of mike lynch's yacht leaves sicily on private jet, crowdfunding site set up in mallorca to support the crew of sicily tragedy, mallorca rushes to support the crew of sicily tragedy.

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million. | PERINI NAVI PRESS OFFICE / HANDOUT

Insurers of the Mallorca -based Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million , according to the first estimates by industry experts. The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on August 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week. Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine. The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

“Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBR. The P&I policy would likely be “several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

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British-flagged superyacht Bayesian sunk in Sicily was based in Mallorca

More related news.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck. Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million. P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment. The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers , who have faced a raft of hurricane losses in the past few years. Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite , according to industry experts. As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh. Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events. “Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?” The captain of the yacht, James Cutfield is recovering at his home in Mallorca , according to sources close to him, while a team of lawyers, led by Aldo Mordiglia, is working on his defence. The captain is said to have arrived on the island, where he lives with his family, on Tuesday night aboard a private jet which flew from Palma to Palermo to collect him. Although his passport has been withdrawn by the Italian judiciary, Cutfield has a certified photocopy which allows him freedom of movement.

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• Superyachts in Majorca
• Superyachts in Mallorca
• Yacht sinking

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"Who would have thought" ............ Those that know the power of the wind and sea, and they "prepare for the worst and hope for the best".

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Superyacht tragedy: Insurance costs projected to reach $150 million

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily. read more

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

”Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be ”several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events.

”Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”

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Sunk superyacht likely to cost insurers at least $150-million, experts say

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least US$150-million, according to the first estimates by industry experts.

The British-flagged, 56-metre-long yacht, which the experts estimated cost around US$40-million, capsized and went down on Aug. 19 within minutes of being hit by a predawn storm while anchored off northern Sicily.

The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.

The hull was likely insured for around US$40-million, while the P&I cover would be larger, insurance sources said.

“Our understanding is that the cost of the boat was between US$40 and US$50-million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.

The P&I policy would likely be “several multiples” of the hull policy, or US$200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, chief executive officer of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at US$40-70 million, but said P&I cover might not total more than US$100-million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at US$30-million to US$40-million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Mr. Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Mr. Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers’ worries, Mr. Seikaly added, as it throws up more unexpected events.

“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”

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Superyacht sank in Sicily, may cost insurers at least $150 mn: Experts

Story highlights

The superyacht's hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Companies Inc, Navium Marine and Convex, Reuters reported last week. 

Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts. 

The British-flagged 56-metre-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on August 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.

Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.  

The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.

"Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values," said Marcos Alvarez, managing director, of global financial institution ratings at Morningstar DBRS. 

The P&I policy would likely be "several multiples" of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.

Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.

Oscar Seikaly, CEO of broker NSI Insurance Group, which provides yacht insurance, estimated the hull value at $40-70 million but said P&I cover might not total more than $100 million.

P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht's value at $30 million to $40 million.

Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters' for comment. Convex declined to comment.

Also read | Sicily yacht sinking: Timeline of events that led to the disaster; search for missing continues

The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.

Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.

As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.

Watch | Bayesian yacht probe: Was there a plot to kill Yacht passengers?

As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.

Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.

Climate change was also likely to add to yacht insurers' worries, Seikaly added, as it throws up more unexpected events.

"Whoever thought a storm in the Mediterranean in the month of August was going to sink a ship?"

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.