Superyacht Amadea is sailing in the United States of America after the nation won it fair and square after a long legal battle. However, the government is struggling with the upkeep of the grand Lurssen vessel worth $300 million and is splurging at least $600,000 on monthly maintenance. On the other hand, Russian billionaire Eduard Khuadainatov has maintained from the beginning that he is the rightful owner of the 348-footer and even challenged the US government’s move to seize the superyacht. Between these legal back-and-forths, what has emerged are the details of maintenance and related costs incurred since the unlawful seizure, as per Khudainatov’s representative, for the first time.
The government is incurring at least $7 million annually and, per Mr. Khudainatov’s representative, the Amadea’s rightful owner, has repeatedly offered to reimburse the American taxpayers for the maintenance costs if the government returns the Amadea to its rightful owner. So far, what we have learned about maintaining the Amadea is costing the U.S. Marshals Service approximately $600,000 per month. Jennifer Crane, Assistant Chief in the Personal Property Unit of the Asset Forfeiture Division of the U.S. Marshals Service (USMS) is responsible for the upkeep of Amadea while it is in the custody of the USMS. A copy of her declaration featuring the expenses of motor yacht Amadea was sent to Luxurylaunches which threw light on the details of the expenses.
Here is where the $600,000 is spent every month
While it is common knowledge now that the Government of the United States is spending $600,000 a month on maintaining the luxury vessel, it is astonishing to see the costs of owning and maintaining a superyacht. No less than $360,000 per month goes towards crew salary, approximately $75,000 per month for fuel. That’s nearly $2500 of diesel daily to keep the air-conditioning running to save the opulent interiors of the six-decker from mold and sea water.
After all the vessel is more like a floating palace that boasts a winter patio laced with ferns, leather-clad walls, a double-heighted atrium packed with expensive artworks, a Pleyel grand piano, hand-painted ceiling with Michelangelo clouds and more. And top it all the hardware right from the hinges to pedals in in 24-k gold.
Another $165,000 per month goes in other essential expenses, including maintenance, crew food, and waste removal. A lavish motoryacht such as the Amadea cannot so without insurance, and the annual insurance premium for the Amadea is $1,725,000, which will be borne by the USMS. These payments are just the tip of the iceberg.
Amadea will soon be shifted to dry dock –
Jennnifer Crane’s declaration revealed that the Lurssen beauty is scheduled to go to dry dock in March 2024, which will set the US government back by another $5.6 million. It is mandatory to take superyachts out of the water for required repairs. This is imperative to maintain insurance coverage and to maintain the vessel’s classification, which affects its value.It may be a significant expense but a mandatory one, especially with the US trying to sell the $300 million pleasure craft desperately.
Authorities of the United States have bluntly called Khudainatov a straw owner for the sanctioned oligarch Sulieman Kerimov, who they believe is the actual owner of Amadea. At this moment it looks unlikely that Amadea will be returned to Khudainatov. It should be known that Khudainatov is sanctioned by the EU but not by the US. His name has come up in the past as the proxy owner of the incredible 460-foot Scheherazade, allegedly owned by President Vladimir Putin, per Forbes.
The energy titan who is the former President of Rosneft is wealthy but owning yachts worth $1 billion seems unlikely. Yacht Scheherazade is valued at $700 million and Amadea is worth $350 million. “The fact that Khudainatov is being held out as the owner of two of the largest superyachts on record, both linked to sanctioned individuals, suggests that Khudainatov is being used as a clean, unsanctioned straw owner to conceal the true beneficial owners of these vessels,” stated Bloomberg.
According to an affidavit by a special agent with the US Federal Bureau of Investigation, filed in the Fiji court proceedings. “While Khudainatov is wealthy, there is no reason to believe he has the financial resources to purchase both the Amadea and the Scheherazade, which are collectively worth more than $1 billion.”
