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Onewater marine announces the creation of onewater yacht group, brings together a nationwide network of yacht sales and service under one unified brand.

BUFORD, Ga., March 25, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) announced today that it has created the OneWater Yacht Group, bringing together its geographically diverse yacht sales team and Grande Yachts sales team, under one unified brand to further enhance the positioning of the Company’s yacht sales and services locations. The group unifies OneWater’s yachting presence and provides a launchpad for further growth, while amplifying the Company’s service and repair offerings at the Roscioli Yachting Center.

“We are incredibly excited to introduce the OneWater Yacht Group, which we believe will redefine the gold standard of yacht buying and ownership,” said Austin Singleton, Chief Executive Officer of OneWater. “This re-alignment intensifies our focus on expanding our yachting sales and services and unifies our team of industry veterans under one brand to accelerate the opportunities in the yachting segment.”

Capitalizing on OneWater’s breadth of in-house services and expansive geographic footprint, the Company has rebranded certain Grande Yachts’ sales and brokerage locations, led by Bryan Braley. The OneWater Yacht Group will have branded sales offices in Southeast Florida, North Carolina, New York, and Maryland, as well as satellite offices in Clearwater and Destin, Florida, Lake Lanier, Georgia, and Boston and Cape Cod, Massachusetts. The Group represents some of the best brands in yachting including, Absolute, Belize, Chris-Craft, Riviera, Sunseeker and Prestige Yachts in select locations.

Supporting the OneWater Yacht Group and its customers is the Roscioli Yachting Center (“Roscioli”), which the Company acquired in December 2020. Roscioli is a renowned, full-service marina and yachting facility located in Fort Lauderdale, Florida, which has served yacht owners for more than 50 years. The Roscioli team includes more than one hundred skilled craftsmen who utilize premier equipment and technology to provide customers with best-in-class services ranging from custom carpentry and fabrications, painting and refinishing, master mechanics, and superior dockside hospitality. The Roscioli Yachting Center enables the OneWater Yacht Group to deliver an unrivaled yacht buying and ownership experience.

The OneWater Yacht Group will be led by Tom George, CYPB, who joined OneWater Marine when the Company acquired the Tom George Yacht Group in December 2020. Tom has more than 30 years of experience in the yachting industry.

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 69 stores throughout 10 different states, seven of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage.

Investor Contact: Jack Ezzell Chief Financial Officer [email protected]

Media Contact: Evan Davis Director, Marketing [email protected] 770-674-6742

Cautionary Statement Concerning Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.

Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: decline in demand for our products and services, the seasonality and volatility of the boat industry, our acquisition and business strategies, the inability to comply with the financial and other covenants and metrics in our credit facilities, cash flow and access to capital, effects of the COVID-19 pandemic and related governmental actions or restrictions on the Company’s business, the timing of development expenditures, and other risks. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

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Onewater Yacht Group

3225 W State Road 84 Fort Lauderdale Florida 33312 United States

T +1 (954) 606-0445

9300 US HWY 98 Miramar Beach Destin Florida 32550 United States

T +1 850 337 8300

Send a message

2550 S. Bayshore Drive Suite 200 Coconut Drive Miami 33133 United States

T +1 305 929 8466

101 N Clematis St, Unit 150 West Palm Beach Florida 33401 United States

T +1 561 296 9800

343 Causeway Blvd Suite 210 Dunedin Florida 34698 United States

T +1 727 734 8707

ONEWATER YACHT GROUP

OneWater Yacht Group offers an unparalleled buying experience through exceptional service opportunities, personal training, and customer events.

With branded sales offices spanning the entire east coast of the United States as well as the West Coast & panhandle of Florida.

Partnered with the renowned Roscioli Yachting Center and their team of more than one hundred skilled craftsmen, we provide customers with best-in-class services ranging from custom carpentry and fabrications, painting and refinishing, master mechanics, and superior dockside hospitality. The addition of the Roscioli Yachting Center empowers us to deliver an unrivaled yacht buying and ownership experience; all under one roof

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ONEWATER MARINE LOCATIONS

American boat brokers.

6516 Lanier Islands Parkway, Buford, GA 30518

Bosun's Cape Cod

100 Falmouth Rd., Mashpee, MA 02649

Bosun's Maryland

411 Winchester Creek Road, Grasonville, MD 21638

Bosun's Peabody

205 Newbury St., Peabody, MA 01960

Captain's Choice Marine

3216 US 378, Leesville, SC 29070

Captain's Choice Marine - North Shore

10439 Broad River Road, Irmo, SC 29063

Caribee Boat Sales

81500 Overseas Highway, Islamorada, FL 33036

Central Marine - St. Petersburg

3535 Tyrone Blvd. N, St. Petersburg, FL 33710

Central Marine - Stuart

200 NW Alice Ave, Stuart, FL 34994

Clearwater Marine

17335 US HWY 19 N, Clearwater, FL 33764

Denison Yachting - All Oceans Closings

850 NE 3rd Street #205, Dania Beach, FL, 33004

Denison Yachting - Blue Pacific Yachting

4519 Admiralty Way, Suite C, Marina Del Rey, CA 90292

Denison Yachting - California

13555 A Fiji Way, Marina Del Rey, CA 90292

Denison Yachting - Europe

25 Bis Boulevard Albert 1er, Monaco, Monaco 98000

Denison Yachting - Florida

850 NE 3rd Street, #205, Dania Beach, FL 33004

Denison Yachting - Maryland

980 Awald Rd #400, Annapolis, MD 21403

Denison Yachting - Rhode Island

2 Christie's Landing, Newport, RI 02840

Denison Yachting - Seattle

2140 Westlake Avenue N, Seattle, WA 98109

Denison Yachting - South Carolina

17 Lockwood Dr. Bldg #11, Charleston, SC 29401

Harbor Pointe Marina

397 Marina Point Road, Dadeville, AL 36853

15096 I-45 South, Conroe, TX 77384

SMG Boats - Used Boat Super Center

801 I-45 South, Conroe, TX 77301

Legendary Maine - Destin

4601 Legendary Marina Drive, Destin, FL 32541

Legendary Marine - Orange Beach

3977 Highway 59 South, Gulf Shores, AL 36542

Legendary Marine - Panama City

4009 Thomas Drive, Panama City Beach, FL 32408

Legendary Marine - Pensacola

3221 Barrancas Avenue, Pensacola, FL 3250

Marina Mike's

19300 South Tamiami Trail, Ft. Myers, FL 33908

Naples Boat Mart

829 Airport Rd, Naples, FL 34104

Norfolk Marine

5221 E Virginia Beach Blvd, Norfolk, VA 23502

Ocean Blue Yacht Sales - Lighthouse Point

2600 N. Federal Hwy, Lighthouse Point, FL, 33064

Ocean Blue Yacht Sales - Palm Beach

2620 Lakeshore Dr., Riviera Beach, FL 33404

Ocean Blue Yacht Sales - Stuart

420 S.W. Federal Hwy, Stuart, FL 34994

OneWater Yacht Group - Fort Lauderdale

3225 W. State Road 84, Fort Lauderdale, FL 33312

OneWater Yacht Group - Liberty Landing

80 Audrey Zapp Dr., Jersey City, NJ 07305

OneWater Yacht Group - Miami

2640 S. Bayshore Drive Suite 106, Miami, FL 33133

OneWater Yacht Group - Palm Beach

GYPB101 N Clematis St, Unit 150, West Palm Beach, FL 33401

OneWater Yacht Group - Stevensville

301 Pier One Rd., Stevensville, MD 21666

OneWater Yacht Group - Sunseeker

3225 State Road 84, Ft Lauderdale, FL 33316

OneWater Yacht Group - Tampa Bay

343 Causeway Blvd. Suite 210, Dunedin, FL 34698

OneWater Yacht Group - Wilmington

1322 Airlie Road, Wilmington, NC 28403

Phil Dill Boats

1520 North Stemmons Freeway, Lewisville, TX 75067

Quality Boats - Charlotte Harbor

3340 Placida Rd, Englewood, FL 34224

Quality Boats - Clearwater

17389 US 19 North, Clearwater, FL 33764

Quality Boats - Sarasota

7700 South Tamiami Trail, Sarasota, FL 34231

Rambo Marine - Birmingham

10396 Highway 280 East, Westover, AL 35185

Rambo Marine - Huntsville

15904 Highway 231 North, Hazel Green, AL 35750

Rambo Marine - Smith Lake

5635 County Rd. 616, Hanceville, AL 35077

Singleton Marine - Atlanta 

5529 Lanier Islands Parkway, Buford, GA 30518

Singleton Marine - Jackson's Gap

SJG124 Edgewater Drive, Jacksons Gap, AL 36861

Singleton Marine - Lake Allatoona 

CAN100 Ridge Road, Canton, GA 30114

Singleton Marine - Lake Harding

45 Bartletts Ferry Rd, Fortson, GA 31808

Singleton Marine - Lake Keowee 

7700 North Highway 11, Sunset, SC 29685

Singleton Marine - Lake Oconee

5820 Lake Oconee Parkway, Greensboro, GA 30642

Singleton Marine Service Center at Lake Martin 

6792 Highway 49 South, Dadeville, AL 36853

Singleton Sales Dock at Holiday Marina

6900 Lanier Islands Parkway, Buford, GA 30518

Singleton Marine Used Boat Super Center - Lake Lanier 

3149 Shoreland Dr., Buford, GA 30518

South Shore Marine

1611 Sawmill Parkway, Huron, OH 44839

Spend-A-Day Marina

9481 St. Rt. 708 North, Russells Point, OH 43348

Spend-A-Day - Used Boat Sales

457 E. Main Street, Russells Point, OH 43348

Stone Harbor Marina

1140 Stone Harbor Boulevard, Stone Harbor, NJ 08247

SunDance Marine - Jensen Beach

3321 NE Indian River Drive, Jensen Beach, FL 34957

SunDance Marine - Miami

9595 NW 7th Ave, Miami, FL 33150

SunDance Marine - Palm Beach

2385 PGA Blvd, Suite D, Palm Beach Gardens, FL 33410

SunDance Marine - Pompano Beach

651 South Federal Highway, Pompano Beach, FL 33062

Sunrise Marine - Alabama

28791 US Highway 98, Daphne, AL 36526

Sunrise Marine - Destin

1460 Highway 98 West, Mary Esther, FL 32569

Sunrise Marine - Orange Beach

23678 Canal Road, Orange Beach, AL 36561

Sunrise Marine - Panama City

3829 Thomas Drive, Panama City, FL 32408

Taylor Marine - Milford

22699 Argos Corner Rd., Milford, DE 19963

Taylor Marine - Ocean City

11850 Ocean Gateway, Ocean City, MD 21842

Texas Marine - Beaumont

6826 Industrial Road, Beaumont, TX 77705

Texas Marine - Clearlake

2700 NASA Road 1, Seabrook, TX 77586

Texas Marine - Conroe

1107 I-45 South, Conroe, TX 77301

The Slalom Shop - Lewisville

2908 N. Stemmons Freeway, Lewisville, TX 75077

The Slalom Shop - Possum Kingdom

118 La Villa Road, Graford, TX 76449

Tom George Yacht Group

17116 US Highway 19 North, Clearwater, FL 33764

Walker's Marine - Marco Island Used Boats

706 East Elkcam Circle, Marco Island, FL 34145

Walker's Marine - Cape Coral 

1503 SE 46th Lane, Cape Coral, FL 33904

Walker's Marine - Fish Tale Marina

7225 Estero Blvd, Ft Myers Beach, FL 33931

Walker's Marine - Ft Myers

16115 San Carlos Blvd, Ft Myers, FL 33908

Walker's Marine - Marco Island

785 Bald Eagle Drive, Marco Island, FL 34145

Walker's Marine - Naples

2959 Davis Blvd., Naples, FL 34104

Walker's Marine - Terrance Davis

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Onewater marine announces the creation of onewater yacht group.

Brings together a nationwide network of yacht sales and service under one unified brand

BUFORD, Ga., March 25, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) announced today that it has created the OneWater Yacht Group, bringing together its geographically diverse yacht sales team and Grande Yachts sales team, under one unified brand to further enhance the positioning of the Company’s yacht sales and services locations. The group unifies OneWater’s yachting presence and provides a launchpad for further growth, while amplifying the Company’s service and repair offerings at the Roscioli Yachting Center.

“We are incredibly excited to introduce the OneWater Yacht Group, which we believe will redefine the gold standard of yacht buying and ownership,” said Austin Singleton, Chief Executive Officer of OneWater. “This re-alignment intensifies our focus on expanding our yachting sales and services and unifies our team of industry veterans under one brand to accelerate the opportunities in the yachting segment.”

Capitalizing on OneWater’s breadth of in-house services and expansive geographic footprint, the Company has rebranded certain Grande Yachts’ sales and brokerage locations, led by Bryan Braley. The OneWater Yacht Group will have branded sales offices in Southeast Florida, North Carolina, New York, and Maryland, as well as satellite offices in Clearwater and Destin, Florida, Lake Lanier, Georgia, and Boston and Cape Cod, Massachusetts. The Group represents some of the best brands in yachting including, Absolute, Belize, Chris-Craft, Riviera, Sunseeker and Prestige Yachts in select locations.

Supporting the OneWater Yacht Group and its customers is the Roscioli Yachting Center (“Roscioli”), which the Company acquired in December 2020. Roscioli is a renowned, full-service marina and yachting facility located in Fort Lauderdale, Florida, which has served yacht owners for more than 50 years. The Roscioli team includes more than one hundred skilled craftsmen who utilize premier equipment and technology to provide customers with best-in-class services ranging from custom carpentry and fabrications, painting and refinishing, master mechanics, and superior dockside hospitality. The Roscioli Yachting Center enables the OneWater Yacht Group to deliver an unrivaled yacht buying and ownership experience.

The OneWater Yacht Group will be led by Tom George, CYPB, who joined OneWater Marine when the Company acquired the Tom George Yacht Group in December 2020. Tom has more than 30 years of experience in the yachting industry.

About OneWater Marine Inc.

OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 69 stores throughout 10 different states, seven of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage.

Investor Contact: Jack Ezzell Chief Financial Officer [email protected]

Media Contact: Evan Davis Director, Marketing [email protected] 770-674-6742

Cautionary Statement Concerning Forward-Looking Statements

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.

Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: decline in demand for our products and services, the seasonality and volatility of the boat industry, our acquisition and business strategies, the inability to comply with the financial and other covenants and metrics in our credit facilities, cash flow and access to capital, effects of the COVID-19 pandemic and related governmental actions or restrictions on the Company’s business, the timing of development expenditures, and other risks. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.

Hot on the trail of 56 superyachts owned by Russian oligarchs and subject to seizure

• Published: Mar. 06, 2022, 2:04 p.m.

French authorities have seized the yacht Amore Vero linked to Igor Sechin, a Putin ally who runs Russian oil giant Rosneft, as part of EU sanctions over Russia's invasion of Ukraine. The boat arrived in La Ciotat on Jan. 3 for repairs and was slated to stay until April 1 and was seized to prevent an attempted departure. (AP Photo/Bishr Eltoni) AP

• The Associated Press

The massive superyacht Dilbar stretches one-and-a-half football fields in length, about as long as a World War I dreadnought. It boasts two helipads, berths for more than 130 people and a 25-meter swimming pool long enough to accommodate another whole superyacht.

Dilbar was launched in 2016 at a reported cost of more than $648 million. Five years on, its purported owner, the Kremlin-aligned Russian oligarch Alisher Usmanov, was already dissatisfied and sent the vessel to a German shipyard last fall for a retrofit reportedly costing another couple hundred million dollars.

That’s where she lay in drydock on Thursday when the United States and European Union announced economic sanctions against Usmanov — a metals magnate and early investor in Facebook — over his ties to Russian President Vladimir Putin and in retaliation for the invasion of Ukraine.

“We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets,” President Joe Biden said during his State of the Union speech Tuesday night, addressing the oligarchs. “We are coming for your ill-begotten gains.”

But actually seizing the behemoth boats could prove challenging. Russian billionaires have had decades to shield their money and assets in the West from governments that might try to tax or seize them.

Several media outlets reported Wednesday that German authorities had impounded Dilbar. But a spokeswoman for Hamburg state’s economy ministry told The Associated Press no such action had yet been taken because it had been unable to establish ownership of the yacht, which is named for Usmanov’s mother.

Dilbar is flagged in the Cayman Islands and registered to a holding company in Malta, two secretive banking havens where the global ultra-rich often park their wealth.

Still, in the industry that caters to the exclusive club of billionaires and centimillionaires that can afford to buy, crew and maintain superyachts, it is often an open secret who owns what.

Working with the U.K.-based yacht valuation firm VesselsValue, the AP compiled a list of 56 superyachts — generally defined as luxury vessels exceeding 79 feet in length — believed to be owned by a few dozen Kremlin-aligned oligarchs, seaborne assets with a combined market value estimated at more than $5.4 billion.

The AP then used two online services — VesselFinder and MarineTraffic — to plot the last known locations of the yachts as relayed by their onboard tracking beacons.

While many are still anchored at or near sun-splashed playgrounds in the Mediterranean and Caribbean, more than a dozen were underway to or had already arrived in remote ports in small nations such as the Maldives and Montenegro, potentially beyond the reach of Western sanctions. Three are moored in Dubai, where many wealthy Russians have vacation homes.

Another three had gone dark, their transponders last pinging just outside the Bosporus in Turkey — gateway to the Black Sea and the southern Russian ports of Sochi and Novorossiysk.

Graceful, a German-built Russian-flagged superyacht believed to belong to Putin, left a repair yard in Hamburg on Feb. 7, two weeks before Russia invaded Ukraine. It is now moored in the Russian Baltic port of Kaliningrad, beyond the reach of Western sanctions imposed against him this past week.

Some Russian oligarchs appear to have not gotten the memo to move their superyachts, despite weeks of public warnings of Putin’s planned invasion.

French authorities seized the superyacht Amore Vero on Thursday in the Mediterranean resort town of La Ciotat. The boat is believed to belong to Igor Sechin, a Putin ally who runs Russian oil giant Rosneft, which has been on the U.S. sanctions list since Russia annexed Crimea in 2014.

The French Finance Ministry said in a statement that customs authorities boarded the 289-foot Amore Vero and discovered its crew was preparing for an urgent departure, even though planned repair work wasn’t finished. The $120 million boat is registered to a company that lists Sechin as its primary shareholder.

On Saturday, Italian financial police in the port of San Remo seized the 132-foot superyacht Lena, which is flagged in the British Virgin Islands. Authorities said the boat belongs to Gennady Timchenko, an oligarch close to Putin and among those sanctioned by the European Union. With an estimated net worth of $16.2 billion, Timchenko is the founder of the Volga Group, which specializes in investments in energy, transport and infrastructure assets.

The 213-foot Lady M was also seized by the Italians while moored in the Riviera port town of Imperia. In a tweet announcing the seizure on Friday, a spokesman for Italian Prime Minister Mario Draghi said the comparatively modest $27 million vessel was the property of sanctioned steel baron Alexei Mordashov, listed as Russia’s wealthiest man with a fortune of about $30 billion.

But Mordashov’s upsized yacht, the 464-foot Nord, was safely at anchor on Friday in the Seychelles, a tropical island chain in the Indian Ocean not under the jurisdiction of U.S. or EU sanctions. Among the world’s biggest superyachts, Nord has a market value of $500 million.

Since Friday, Italy has seized $156 million in luxury yachts and villas in some of its most picturesque destinations, including Sardinia, the Ligurian coast and Lake Como.

Most of the Russians on the annual Forbes list of billionaires have not yet been sanctioned by the United States and its allies, and their superyachts are still cruising the world’s oceans.

The evolution of oligarch yachts goes back to the tumultuous decade after the 1991 fall of the Soviet Union, as state oil and metals industries were sold off at rock-bottom prices, often to politically connected Russian businessmen and bankers who had provided loans to the new Russian state in exchange for the shares.

Russia’s nouveau riche began buying luxury yachts similar in size and expense to those owned by Silicon Valley billionaires, heads of state and royalty. It’s a key marker of status in Moscow and St. Petersburg, and size matters.

“No self-respecting Russian oligarch would be without a superyacht,” said William Browder, a U.S.-born and now London-based financier who worked in Moscow for years before becoming one of the Putin regime’s most vocal foreign critics. “It’s part of the rite of passage to being an oligarch. It’s just a prerequisite.”

As their fortunes ballooned, there was something of an arms race among the oligarchs, with the richest among them accumulating personal fleets of ever more lavish boats.

For example, Russian metals and petroleum magnate Roman Abramovich is believed to have bought or built at least seven of the world’s largest yachts, some of which he has since sold off to other oligarchs.

In 2010, Abramovich launched the Bermuda-flagged Eclipse, which at 533 feet was at the time the world’s longest superyacht. Features include a wood-burning firepit and swimming pool that transforms into a dance floor. Eclipse also boasts its own helicopter hangar and an undersea bay that reportedly holds a mini-sub.

Dennis Cauiser, a superyacht analyst with VesselsFinder, said oligarch boats often include secret security measures worthy of a Bond villain, including underwater escape hatches, bulletproof windows and armored panic rooms.

“Eclipse is equipped with all sorts of special features, including missile launchers and self-defense systems on board,” Cauiser said. “It has a secret submarine evacuation area and things like that.”

Eclipse was soon eclipsed by Azzam, purportedly owned by the emir of Abu Dhabi, which claimed the title of longest yacht when it was launched in 2013. Three years after that, Usmanov launched Dilbar, which replaced another slightly smaller yacht by the same name. The new Dilbar is the world’s largest yacht by volume.

Abramovich, whose fortune is estimated at $12.4 billion, fired back last year by launching Solaris. While not as long as Eclipse or as big as Dilbar, the $600 million Bermuda-flagged boat is possibly even more luxurious. Eight stories tall, Solaris features a sleek palisade of broad teak-covered decks suitable for hosting a horde of well-heeled partygoers.

But no boat is top dog for long. At least 20 superyachts are reported to be under construction in various Northern European shipyards, including a $500 million superyacht being built for the American billionaire Jeff Bezos.

“It’s about ego,” Cauiser said. “They all want to have the best, the longest, the most valuable, the newest, the most luxurious.”

But, he added, the escalating U.S. and EU sanctions on Putin-aligned oligarchs and Russian banks have sent a chill through the industry, with boatbuilders and staff worried they won’t be paid. It can cost upwards of $50 million a year to crew, fuel and maintain a superyacht.

The crash of the ruble and the tanking of Moscow stock market have depleted the fortunes of Russia’s elite, with several people dropping off the list of Forbes billionaires last week. Cauiser said he expects some oligarch superyachts will soon quietly be listed by brokers at fire-sale prices.

The 237-foot Stella Maris, which was seen by an AP journalist docked this past week in Nice, France, was believed to be owned by Rashid Sardarov, a Russian billionaire oil and gas magnate. After publication of an earlier version of this story, AP was contacted Sunday by yacht broker Joan Plana Palao, who said his company represents a U.S. citizen from California who purchased the Stella Maris last month. He declined to disclose the name of the buyer or the person from whom the boat had been purchased.

On Thursday, the U.S. Treasury Department issued a new round of sanctions that included a press release touting Usmanov’s close ties to Putin and photos of Dilbar and the oligarch’s private jet, a custom-built 209-foot Airbus A340-300 passenger liner. Treasury said Usmanov’s aircraft is believed to have cost up to $500 million and is named Bourkhan, after his father.

Usmanov, whose fortune has recently shrunk to about $17 billion, criticized the sanctions.

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“I believe that such a decision is unfair and the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honor, dignity and business reputation,” he said in a statement issued through the website of the International Fencing Federation, of which he has served as president since 2008.

Abramovich has not yet been sanctioned. Members of the British Parliament have criticized Prime Minister Boris Johnson for not going after Abramovich’s U.K.-based assets, which include the professional soccer club Chelsea. Under mounting pressure, the oligarch announced this past week he would sell the $2.5 billion team and give the net proceeds “for the benefit of all victims of the war in Ukraine.”

Meanwhile, location transponders showed Solaris moored in Barcelona, Spain, on Saturday. Eclipse set sail from St. Maarten late Thursday and is underway in the Caribbean Sea, destination undisclosed.

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