Italy and the Mediterranean are full of yachts Ship’s crew

By Kevin Varley

(Bloomberg) – There are currently more superyachts off the coast of Italy than anywhere else in the world, and from recent headlines about Jeff Bezos and Leonardo DiCaprio, it’s safe to say that the summer season is in full swing for the world’s rich.

The 123 meters (404 feet) Golden OdysseyAuctioned in 2022 after being owned by Saudi Prince Khaled bin Sultan al Saud, it was the largest of the fleet to visit Italian waters, alongside Canadian billionaire Patrick Dovigi’s former 378-foot boat Lady Jorgia came in second place.

Under normal circumstances, the 473-foot sailing yacht A, formerly associated with Andrey Igorevich Melnichenko, would take home the top prize, but the yacht is now owned by a discretionary trust managed by an independent trustee, according to a spokesman for the Russian billionaires. The boat is reportedly currently reportedly costing $900,000 a month to maintain as it is moored and tended to by a crew of 20.

The 259 yachts that docked off Italy on Friday were more than double the number counted at that time three months ago, after many ships completed the annual migration from the US and Caribbean across the Atlantic in April to start the yachting season in April Mediterranean to begin.

The Monaco Grand Prix and Cannes Film Festival lured in the rich last month and the boats haven’t left yet.

Yacht numbers have risen in almost all Mediterranean countries, with Greece hosting 235 yachts compared to 217 in France, 150 in Spain and 94 in Turkey, while the number in the US has fallen to 159. That’s according to data from Bloomberg, IHS Markit and Genscape.

Earlier this week, founder Bezos was spotted aboard his newly minted yacht Koru in Portofino, while the ever-present DiCaprio was enjoying some family time on a yacht along the Amalfi Coast.

© 2023 Bloomberg LP

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