Come March, the world’s second-largest sailing yacht, Sailing Yacht A, second only to Jeff Bezos’ 416-footer Koru, will have been moored and motionless for three whole years. Many might assume that sitting idle would cut down expenses for the $600 million luxury vessel, but nothing could be further from the truth.
Despite being out of commission, the 469-foot superyacht owned by Russian billionaire Andrey Melnichenko has amassed a jaw-dropping $60 million annual upkeep bill.
According to Il Gazzettino (subscription required), since its seizure in March 2022, the Italian government has already shouldered a staggering €27 million ($28 million) in maintenance costs.
The yacht was seized by Italian authorities and placed in a special dry dock at the northern port of Trieste. It wasn’t until last year that the luxury leviathan stirred, leaving the dock for the first time in two years. It briefly moved to an anchorage in Venice due to rough weather, all under the watchful escort of an Italian military vessel, GDF G222.
While Melnichenko’s prized Sailing Yacht A, designed by Philippe Starck, remains out of his grasp, his smaller yet equally extravagant Motor Yacht A managed a daring escape. Valued at $300 million, the so-called “Houdini of the high seas” had sought refuge in Dubai but eventually ended a two-year hiatus, departing for Oman before mysteriously going dark. Now under new ownership, LGA Charter Ltd., and sailing under a new flag, Motor Yacht A has found the freedom that Sailing Yacht A can only dream of.
Meanwhile, Sailing Yacht A has become an expensive burden for its captors. Maintained by a skeleton crew of around twenty, funded entirely by the Italian state, this dormant giant continues to drain resources. Three years of immobility for a ship of this magnitude has led to astronomical bills. Even Nobiskrug, the German shipyard that built this engineering marvel with its three towering masts, each taller than Big Ben, has since filed for bankruptcy.
An eight-deck masterpiece, Sailing Yacht A accommodates 20 guests across 10 lavish cabins, tended by a crew of 54. Known for concealing its luxurious interiors, the yacht boasts an underwater observation pod built into the keel with three elliptical glass panels offering mesmerizing views of its propellers. Amenities include a swimming pool, a beach club, a wellness area, a cinema, and other indulgent features befitting Melnichenko’s estimated $17 billion fortune.
A visionary vessel seized, and wasted-
Delivered to 52-year-old Andrey Melnichenko on February 3, 2017, the yacht was seized by Italian authorities on March 12, 2022, as part of the European Union’s sanctions against Russian oligarchs. Italian police boarded and took control of the vessel, and just like that, three years have passed.
Today, Sailing Yacht A remains anchored in limbo, with its legal status unresolved. Unfortunately for the Italian government, while the yacht’s fate remains uncertain, the only thing that continues to rise is the mountain of bills.
