Azimut's Getaway, Atlantic City

Azimut Yachts recently held a getaway for its owners at Trump Marina. In total, about 30 boats and their owners and families showed up for a fun weekend of boat hopping, cocktail parties, dinners and dancing, and a little fun at the tables.

One of the highlights of the weekend was the introduction of the new Azimut 50, equipped with the Seakeeper Gyro, which is a device that reduces roll. I had a chance to take the 50 out and test the device. It works quite well, and it's a nice option for Azimut enthusiasts. Another highlight of the weekend was the 116-foot Vivere owned by Phil Rinaldi. Phil was nice enough to give PMY a tour of this outstanding vessel.

No More Rock and Roll

You may remember the article that appeared in the November issue of PMY entitled, "The End of Rock and Roll." It was about a new, compact (about the size of a beach ball), relatively affordable, high-speed gyro called the Seakeeper (above), which during our tests all but eliminated rolling on a 43-foot Viking convertible. Having been on that boat—in the tuna tower and in a beam sea—I can tell you that the difference this device made was so remarkable, we opined that Seakeeper would change boating forever.

Well, that prediction may come true a lot sooner than we thought. I got a call the other day from Shep McKinney, president of Seakeeper, who informed me that as a direct result of that article, his company had just signed a multimillion-dollar deal to supply gyros to the Azimut-Benetti Group in exchange for an agreement not to sell the units to the Italian builder's direct competitors for the next few years. It's a great deal for Seakeeper because it gives the fledgling company a solid piece of business on which to build, and it's great for Azimut-Benetti because it gives it something none of its competitors will have, at least for now.

I found McKinney's news particularly interesting because immediately after my ride on the Seakeeper-equipped Viking, I called a few builders to tell them that I felt this product was a true game-changer and whatever builder came out with it on their boats first would have a huge advantage over its competitors. Amazingly, I couldn't seem to get anyone excited—except for one guy: Paolo Vitelli, president of Azimut-Benetti.

Vitelli founded Azimut back in 1969, then acquired Benetti in 1985, and has grown the company, which he still owns, into arguably the most successful and profitable boatbuilder in the world. Above all, Vitelli is an entrepreneur who can move more quickly and decisively than a lot of other builders. It was that nimbleness that allowed him to nail down Seakeeper while his competitors were still just thinking about it. I'm predicting that his quick decision will translate into huge profits for his company over the term of the agreement. Just wait and see how he exploits the advantage of selling boats that don't rock and roll. A lot of builders are going to be trying to figure a way to avoid Seakeeper's patents.

Latrell Sprewell Loses Yacht

Milwaukee's Best has suddenly become Milwaukee's Bust.

Former basketball player Latrell Sprewell had his 70-foot yacht repossessed this week, according to a report in the newspaper Milwaukee Journal Sentinel. A federal marshall seized the Azimut, which Sprewell bought in 2003, from a storage facility in Manitowoc, Wisconsin, after North Fork Bank claimed he was in default on the monthly mortgage payments of $10,322. In fact, North Fork states that the insurance hasn't been maintained either.

Even though Sprewell had the yacht registered to LSF Marine Holdings LLC, court documents apparently show that he guaranteed the bank loan personally. North Fork wants Milwaukee's Best sold so that it can recoup the $1.3 million that it says remains on the loan.

Azimut

Last time I blogged it was to tell you about some factory tours I was doing in Italy, specifically Sessa. Shortly thereafter I moved on to Azimut, which turned out to be not so much a factory tour as a sojourn. For Azimut is both huge and about much more than building boats.

I began my tour in Aviglana, where Azimut manufactures boats to from 39 to 70 feet. This is a relatively new plant; the oldest parts are about six years old and one building was completed last year. Another is scheduled to begin construction later this year, Not surprising given its age, the facility is very modern, clean, well-lit, and virtually devoid of styrene odor. It was running at pretty much full capacity when I was there. From there I drove to Varazze, on the coast where the company has a big stake in a new marina project, complete with 800 slips (400 for sail on one side and 400 for power on the other), parking for 900 vehicles, water view apartments for sale, and a variety of shops. Although much of the shops and apartments are still unoccupied, it's nevertheless impressive. To my knowledge, no other boat builder is engaged in such a project.

From here we drove south to Viareggio, when Azimut builds Azimut motoryachts from 75 to 116 feet, the larger one in the recently purchased Lusben Shipyard, and in a separate facility next door, its line of Benetti composite yachts. The ex-Lusben works is also home to Europe's largest TraveLift, a 600-ton monster. My last leg was about an hour south in Livorno, where Benetti builds its full-custom, steel-hull yachts. There's yet another facility on Italy's east coast where the company laminates the hulls and deck for its composite Benettis, which are then brought to Viareggio for fitting out. Obviously Azimut is huge—there's really nothing in America—or for that matter in the world—that matches the number, size, and modernity of its boatbuilding facilities. I was bowled over.

Azimut's S Range Flagship To Premiere at Dubai

This weekend at the XV International Dubai Boat Show, Italian builder Azimut Yachts will launch the newest and largest model in its Open S Range: the 103S. Like the 43-,62-,68-,and 86-foot models in the S Range, the 103S is a Stefano Righini design with an interior by Carlo Galeazzi. She is the first model in the S Range to be equipped with a flying bridge. Preliminary reports are incomplete, but power is said to be provided by twin 2,434-hp MAN V16 2000 M93 diesels coupled to Rolls Royce KaMeWa waterjets.


PMY European editor Alan Harper will be covering the 103S for an upcoming issue, so keep reading. Look for a review of the 43S in PMY's May 2007 issue by yours truly.