Palumbo Group will be showcasing the award-winning designs of its latest superyachts during this week’s Monaco Yacht Show in Port Hercules, France that opens on Wednesday.
The company, which is positioning itself among the top global players in the superyacht sphere, has just announced the sale of a 65-metre custom built motoryacht to a buyer identified by established sales brokers Simon Goldsworthy from the Edmiston office in London.
Italian-owned Palumbo Group took over the ailing Malta Shipyard in Cospicua in 2010 and reversed its fate.
“This latest motoryacht is the second contract signed by ISA Yachts in a month, following on the sale of the 43-metre yacht earlier this month and the 80-metre superyacht already under construction for delivery in 2018,” group CEO Antonio Palumbo said.
“The reaction we are receiving from the market shows we are on the right track, and we intend to keep the momentum going by showcasing what our teams can achieve during the most anticipated yacht show in Monaco,” he added.
The Monaco Yacht Show, which is being attended by Maltese transport authorities, is the most anticipated event in the superyacht calendar and has been running for more than 25 years. Spread across four days, this year’s show will see more than 120 superyachts and 600 companies exhibiting.
Palumbo Group’s new 65-metre yacht, which is expected to turn heads once completed, will be built at the ISA Yachts shipyard in Ancona and be completed by 2021.
Simon Goldsworthy, the company which brokered the sale for a large yacht owner in Europe, said: “From the first meeting it was obvious that Palumbo Group’s new ownership of Ancona’s ISA shipyard had wrought some very positive changes. With their vast experience in ship refit and strong technical bias, we soon had every confidence that they could produce a superb and high-quality superyacht for us.”
The yacht with a gross tonnage of over 1,250, will have a six stateroom arrangement with a seventh convertible cabin and full beam owner’s suite located forward on the main deck, together with a huge full-beam beach club aft.
The Ancona shipyard was last year ridden with debt and about to close down before Palumbo Group spent €10 million in buying it with a view of tripling its construction of luxury superyachts, and the investment is paying off.
The Palumbo Group, which started off as a small carpentry and welding workshop for commercial ships in 1967, started to branch out into luxury yachting in 2008. Now, with superyacht facilities in Naples, Messina, Ancona, Malta, Marseille and Tenerife, the group is looking optimistically at entering a new era.