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Portofino Superyacht Charter

Superyachts for charter in portofino.

Browse a unique selection of Portofino Superyacht Charters and embark on the most exclusive luxury retreat. The tranquillity of cruising, coupled with the warm crew’s services, gourmet cuisine, and tailored itineraries, encapsulates the essence of opulence that Portofino is renowned for, creating unforgettable memories on the gentle Portofino tides.

34m | RMK Marine | 2006

34.2m | Custom Line | 2009

34.2m | Royal Huisman | 2000

Over the Rainbow

35m | A.M. Dickie & Sons | 1930

Minor Family Affair

35.15m | Princess | 2017

38.9m | Fitzroy | 2006

39.3m | Tansu | 2016

40.05m | Sunseeker | 2014

Silver Wind

43.63m | ISA Yachts | 2014

MAXIMILIAN MMIV

45.02m | Sunrise | 2009

STARBURST III

47.5m | Bilgin | 2017

49.38m | Codecasa | 1998

49.9m | Benetti | 2023

50.4m | Feadship | 1990

51.7m | Alloy | 2006

52m | Sanlorenzo | 2022

52.12m | Amels | 2004

The Wellesley

56.20m | Oceanco | 1993

60m | Brodosplit BSO d.o.o. | 2015

62.5m | Codecasa | 2003

GOLDEN HORIZON

162m | Brodogradevna Industrija Split | 2021

30m | Riva | 2021

30.1m | Ferretti | 2022

30.4m | Filippetti Yacht | 2014

55 FIFTYFIVE

31.09m | Cerri Cantieri Navali | 2021

31.1m | Sunreef Yachts | 2009

31.4m | Astondoa | 2004

32.2m | Sanlorenzo | 2019

33m | Overmarine | 2021

34.1m | Couach | 2007

34.95m | Benetti | 2003

35.2m | Sunseeker | 2020

36m | Mulder | 2019

36.8m | Benetti | 2022

36.88m | Couach | 2010

37.07m | Gulf Craft | 2022

37.44m | Sanlorenzo | 2007

37.8m | Rosetti Superyachts | 2021

38m | Heesen | 2001

INDIGO STAR

38m | Siar & Moschini | 1995

39.6m | Overmarine | 2014

VENI VIDI VICI

39.65m | Overmarine | 2006

40.05m | Sunseeker | 2015

40.05m | Sunseeker | 2018

40.24m | Benetti | 2019

ROYAL FALCON ONE

41.19m | Kokums | 2019

42m | Benetti | 2014

42.2m | Sanlorenzo | 2015

Enquire On Portofino Yacht Charter

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Oceanco Unveils Not One but Two Sleek New 262-Foot Superyachts

The sleek newcomers are part of the dutch yard's simply custom series., rachel cormack.

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Oceanco ’s Simply Custom lineup just added two new members to the family.

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Christened Storm and Portofino, the two newcomers both feature a highly optimized and efficient hull designed by Lateral Naval Architects. (All Simply Custom yachts have the same hull, in fact.) Each vessel also offers an impressive gross tonnage of approximately 2,500 to 2,700 GT. Spread across five decks, the living quarters offer ample space for entertaining and seven guest cabins. (The owner’s stateroom is located on the upper deck, while the six guest suites sit on the main deck.)

Storm and Portofino will be cleaner, greener cruisers, too. Low-emission propulsion is a major focus of the Simply Custom series, with each yacht powered by hybrid diesel-electric systems. “This architecture will be the one common thread across all the designs,” Oceanco’s Paris Baloumis told Robb Report last October. “We’re also designing it so that future propulsion technologies, when they become available, can be retrofitted into the design.”

The two yachts have clear differences, though. Storm is characterized by a sleek, aggressive profile that “combines the elegant, flowing lines of a timeless Bentley coupe with a tapering aft end, giving that sense of speed and elegance from a bygone era,” according to H2 Yacht Design ’s founder and creative director Jonny Horsfield. 

Portofino, on the other hand, reflects the classic style of its namesake Italian fishing village. Horsfield says the yacht’s timeless design is contrasted by “ruthlessly modern” detailing, such as a flared bow and a dramatically shaped transom. Other hallmarks include a sculpted superstructure, tapered decks, and glass bulwarks. 

“Both designs are flexible enough to accommodate any client preferences,” Horsfield adds.

To that end, the Simply Custom series is designed to simplify (and speed up) the customization process for owners without sacrificing quality. Sounds like a win-win. 

Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…

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Featured Yachts in Portofino

TATIANA | From EUR€ 775,000/wk

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Portofino & Ligurian Coast Yacht Charter

For decades, luxury yacht charter groups to the Ligurian Coast - also known as the Italian Riviera - have adored the tiny and beautiful port of Portofino in Italy. As a commune of Genoa that has welcomed aristocrats, artists and celebrities over the centuries, Portofino provides a taste of the finer things in life, evolving with the times from a small fishing village on the rugged east coast and embracing its popularity while preserving its myriad charms.

Colourful buildings and quaint cobblestone streets meander away from the port that attracts sailing yachts and motor yachts alike. Cafes, boutique shops and gelatarias spill out into the harbour piazza from where you can watch the superyachts come and go, or take in the breath-taking views from on top of the hill.

The surrounding region is also a delight to culture-seekers, wine tasters, water sports fans and those looking to do nothing more than take life at their leisure and make the most of the services on board: The Cinque-Terre villages are carefully preserved UNESCO World Heritage Sites best accessed by water. Sperm whales and dolphins are regular visitors to the area that will be a magical encounter during any swim.

In Genoa, immerse yourself in the 16th Century palaces and residences of Via Garibaldi and at Forte dei Marmi guests can spoil themselves with lavish spas, Michelin-starred restaurants, high-end shops and a spectacular beach that stretches for miles.

5 quick reasons to visit Portofino & the Ligurian Coast:

Sensational UNESCO World Heritage Sites, fantastic snorkel and dive sites, delicious cuisine and wine tasting tours, golden sand beaches, incredible shopping

Portofino & the Ligurian Coast Yacht Charter Experiences

The Ligurian coastline is scenic and spectacular, combining colourful buildings with historic alleyways spilling over with vivid bougainvillea. At night, lantern-style electric lights create a romantic ambiance that makes the country of passion the perfect place to propose, have a honeymoon or celebrate an anniversary.

Sanremo or Genoa is the perfect place to begin, end or extend your luxury yacht charter due to its proximity to the French Riviera yacht charter grounds - another fantastic region to explore. In addition to Via Garibaldi, there are numerous theatres and residences to visit around Piazza Raffaele de Ferrari, including the Doge's Palace and Christopher Columbus's house.

Follow the curve of the coast to the empty beaches of Punta Chiappa on the cape, then on to Cala dell'Oro and most importantly the Portofino Marine reserve where the Christ of the Abyss statue is located: Snorkellers will be able to see the statue through the clear water, whereas Scuba divers can get up close and descend the 40m/131ft to see the marine life swimming around its base. On dry land there is also the historic abbey and museum Abbazia di San Fruttuoso, which discusses the lives of the prisoners held there and the graffiti that they left behind.

Further down the Italian coast you'll sail upon 'Cinque Terre' - A succession of five coastal villages, all with the same spectacular views of the seas. These villages are less expensive and less sophisticated than their more popular sister, Portofino, yet they are a spectacular sight from your luxury yacht and each has its own unique charms to accompany its clean and clear beaches. Hikers looking to spend extra time on land can take the famous and stunning walk along this coastal route that links the five towns.

From Cinque Terre, guests can choose whether to indulge in some contemporary delights in Forte dei Marmi and Livorno with its top quality restaurants, beach clubs and bars, or immerse yourselves further in nature at Porto Venere and Palmaria. Caparia and Elba are both situated within the Tuscany National Park and are perfect for water sports above and below the water: Octopus, starfish and a massive variety of fish can be found around the vivid sea corals, walls and caves. Further south is Civitavecchia, the gateway to Rome and her splendid architectural and historical gems.

The types of yacht charter available in Portofino & Cinque Terre Italy include all the main types such as large crewed motor yachts, sailing yachts, catamaran, sailboats, luxury yachts and off-course the ever increasing super yacht charter. Like most of the Mediterranean, the Italian yacht chartering season generally runs from April to the end of October. Just like the favourite hideaways of the rich and famous, Portofino and the Italian Riveria is enjoying ever increasing popularity and success as a destination for Western Mediterranean luxury yacht charters.

Things to Consider:

Yachting seasons & climate:.

Portofino and the Ligurian Coast in the summer has that perfect balance between summer sunshine and cool breezes, with temperatures sitting around a comfortable 24°C/75°F and winter temperatures around 9°C/48°F. October tends to be the wettest month with June through to August the driest period, and from June until September, the sea temperature sits at a warm 20°C/68°F and above.

Clothing to Pack For Your Charter

Although beachwear is acceptable along the coast, smart-casual is the usual dress code for restaurants and bars with elegant eveningwear for concerts and casinos in the larger destinations.

Light layers are perfect for the summer months and a jacket will stave off the chill in the evening. When visiting religious sites, clothing should cover shoulders and thighs.

Main Ports and Marinas:

Porto Antico (Genoa), Marina di Portofino, Porto di Portovenere, Porto Mirabello, Porto di Livorno, Portoferraio

Famous Restaurants & Clubs:

Paolo e Barbara restaurant (Sanremo), Winterose Wine Bar (Portofino), Ristorante Puny(Portofino), La Peranza (Santa Margherita), Babicio (Portovenere), La Pia (La Spezia),

A Must See Attraction:

Via Garibaldi (Sanremo) Christ of the Abyss, Cinque Terre villages, Tuscany Natural Reserve

Best beaches to visit in your yacht:

Punta Chiappa, Cala dell'Oro, San Fruttuoso, La Grotta Di Moneglia, Porto Pidocchio, Spiaggia Levanto, Vernazza Beach, Guvano Beach, Riomaggiore Beach, Punta del Persico, Pozzale Beach, Groppolo Beach, The White Beach Rosignano, Cala della Mortola, Viticcio Beach, Samson Beach, Nisporto Beach

Local Yacht Events:

Italian Music Festival (Sanremo), Euro Flora (Sanremo), Festival of Fire (Recco

Best time to go:

The weather is driest and warmest from May until September, resulting in the most outdoor events during this period. Due to the school summer holidays from July until the end of August and therefore making it the busiest season. Autumn is a great time to go while the weather is still warm and dry and the popular locations are not as crowded.

Further Charter Information

Yacht Rentals Available: Go here for the current list of yacht rentals in Portofino and the Ligurian Coast.

Full Italy Yacht Charter Guide: Go here for the essential Italy yacht charter guide.

Italy Itineraries: Here is a selection of broker itineraries for Italy.

News: Read the latest superyacht news about Portofino and the Ligurian Coast.

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• Browse Portofino Charter Yachts
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Portofino Yacht Charter Enquiry

The charter was an amazing experience. The highlight of our trip for all 11 of us. We really enjoyed the crew immensely. The food was outstanding (the chef is Mexican as are we). The itinerary was fantastic. We thoroughly enjoyed each place we stopped. There was only one significant problem. We didn't have enough time!!! So as you can see, we are charterers now. We will always relish the moments on Andiamo in every way. F.O from USA chartered M/Y ANDIAMO in, Portofino, Bonifaccio, Porto Cervo, Corsica , France in August

Yachting Destinations Near Portofino

In close proximity to Portofino are a number of exciting sailing destination.

THE MEDITERRANEAN

Aeolian Islands

Yachts for Charter in Portofino

Whisper | from eur€ 1,200,000/wk.

SUNRAYS | From EUR€ 1,150,000/wk

QUEEN MIRI | From EUR€ 1,125,000/wk

O'PARI | From EUR€ 1,000,000/wk

74m CRN 131 | From US$ 870,000/wk

KENSHO | From EUR€ 850,000/wk

HBC | From EUR€ 850,000/wk

AALTO | From EUR€ 775,000/wk

HUNTRESS | From US$ 725,000/wk

EMIR | From EUR€ 700,000/wk

LADY VERA | From EUR€ 700,000/wk

LAUREN L | From EUR€ 695,000/wk

MALIA | From EUR€ 680,000/wk

LADY E | From US$ 665,000/wk

PEGASUS VIII | From US$ 650,000/wk

Portofino Yacht News

Special offer: 10% off Western ...

Charter yacht Calypso delivered and ...

Why do Americans Love to Charter the ...

Italy – Why is this Charter Location ...

Portofino yacht charter specials, 25% discount location: the mediterranean.

SOUNDWAVE | From EUR€ 487,500.00/wk

RESILIENCE | From EUR€ 450,000.00/wk

No delivery fees location: portofino.

M/Y SOUL | From EUR€ 34,000.00/wk

15% discount location: west mediterranean.

HATT MILL | From EUR€ 187,000.00/wk

Special offer location: west mediterranean.

'G' | From EUR€ 76,500.00/wk

Special discounted rate location: the mediterranean.

ALHAMBRA | From EUR€ 50,000.00/wk

Special discounted rate location: west mediterranean.

GLASAX | From EUR€ 63,750.00/wk

15% discount location: the mediterranean.

LADY LENA | From EUR€ 208,600.00/wk

Charter yacht disclaimer.

This document is not contractual. The yacht charters and their particulars displayed in the results above are displayed in good faith and whilst believed to be correct are not guaranteed. CharterWorld Limited does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information and/or images displayed. All information is subject to change without notice and is without warrantee. A professional CharterWorld yacht charter consultant will discuss each charter during your charter selection process. Starting prices are shown in a range of currencies for a one-week charter, unless otherwise marked. Exact pricing and other details will be confirmed on the particular charter contract. Just follow the "reserve this yacht charter" link for your chosen yacht charter or contact us and someone from the CharterWorld team will be in touch shortly.

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PORTOFINO is a 35.97 m Motor Yacht, built in the United States of America by Intermarine - USA and delivered in 2001. She is one of 2 Intermarine 118 models.

Her top speed is 21.0 kn, her cruising speed is 17.0 kn, and she boasts a maximum cruising range of 1100.0 nm at 14.0 kn, with power coming from two Caterpillar diesel engines. She can accommodate up to 10 guests in 5 staterooms, with 7 crew members waiting on their every need. She has a gross tonnage of 230.0 GT and a 7.16 m beam.

She was designed by Luiz De Basto , who has designed 38 other superyachts in the BOAT Pro database.

The naval architecture was developed by Intermarine - USA , who has architected 6 other superyachts in the BOAT Pro database, and the interior of the yacht was designed by Ari Cross-Buchanan - she is built with a Teak deck, a GRP hull, and GRP superstructure.

PORTOFINO is in the top 30% by LOA in the world. She is one of 1177 motor yachts in the 35-40m size range.

PORTOFINO is currently sailing under the Saint Vincent and the Grenadines flag (along with a total of other 120 yachts). She is currently located at the superyacht marina Loggerhead Marina – Hollywood, in United States of America, where she has been located for 1 week. For more information regarding PORTOFINO's movements, find out more about BOATPro AIS .

Specifications

• Name: PORTOFINO
• Previous Names: MARIBELLA
• Yacht Type: Motor Yacht
• Model: Intermarine 118
• Builder: Intermarine - USA
• Naval Architect: Intermarine - USA
• Exterior Designer: Luiz De Basto
• Interior Designer: Ari Cross-Buchanan

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NOT FOR CHARTER *

This Yacht is not for Charter*

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PORTOFINO yacht NOT for charter*

35.97m  /  118' | intermarine | 2001.

Owner & Guests

Cabin Configuration

• Previous Yacht

Special Features:

• 1,267nm range
• ABS (American Bureau of Shipping) classification
• Sleeps 10 overnight

The 35.97m/118' motor yacht 'Portofino' (ex. Maribella) was built by Intermarine in Italy at their Savannah shipyard. Her interior is styled by design house Ari Cross-Buchanan and she was completed in 2001. This luxury vessel's exterior design is the work of Luiz de Basto Designs.

Guest Accommodation

Portofino has been designed to comfortably accommodate up to 10 guests in 5 suites. She is also capable of carrying up to 7 crew onboard to ensure a relaxed luxury yacht experience.

Range & Performance

Built with a GRP hull and GRP superstructure, with teak decks, she benefits from a semi-displacement hull to provide exceptional seakeeping and impressive speeds. Powered by twin diesel Caterpillar (3412C DITA) 1,330hp engines, she comfortably cruises at 17 knots, reaches a maximum speed of 21 knots with a range of up to 1,267 nautical miles from her 26,874 litre fuel tanks at 14 knots. Her water tanks store around 4,542 Litres of fresh water. She was built to ABS (American Bureau of Shipping) classification society rules.

*Charter Portofino Motor Yacht

Motor yacht Portofino is currently not believed to be available for private Charter. To view similar yachts for charter , or contact your Yacht Charter Broker for information about renting a luxury charter yacht.

Portofino Yacht Owner, Captain or marketing company

'Yacht Charter Fleet' is a free information service, if your yacht is available for charter please contact us with details and photos and we will update our records.

Portofino Photos

NOTE to U.S. Customs & Border Protection

Specification

M/Y Portofino

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The Middlemen at the Heart of an Oligarch-Industrial Complex

They oversee the flow of billions of dollars from Putin-connected Russians to companies involved in superyachts and villas. They’ve drawn the attention of a U.S. task force.

Credit... Balint Porneczi/Bloomberg

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By Michael Forsythe Gaia Pianigiani and Julian E. Barnes

• June 1, 2022

On Feb. 24, as Russian troops poured into Ukraine on Day 1 of the invasion, an employee of a yacht management company sent an email to the captain of the Amadea, a $325 million superyacht: “Importance: High.”

The family of a Russian oligarch under sanctions had spent much of January and February cruising from island to island in the Caribbean and had some questions and concerns. When would be a good time to visit New Zealand? Bali? Could the yacht get a special boat to pull water skiers? And would the staff of the Amadea please stop folding napkins in triangles? “Guests don’t like it,” wrote the employee, Victoria Pastukhova, a “client coordinator” for the company, Imperial Yachts.

At Imperial Yachts, no detail is too small to sweat. Based in Monaco, with a staff of about 100 — plus 1,200 to 1,500 crew members aboard yachts — the company caters to oligarchs whose fortunes turn on the decisions of President Vladimir V. Putin. Imperial Yachts and its Moscow-born founder, Evgeniy Kochman, have prospered by fulfilling their clients’ desires to own massive luxury ships.

For a Russian with hundreds of millions of dollars to spend, Mr. Kochman’s company takes care of everything: It oversees construction, hires the crew, manages the vessel’s day-to-day operation and can charter the ship or sell it, if need be. Another company also run by Mr. Kochman, BLD Management , performs a similar service for villas.

Imperial’s rise has benefited an array of businesses across Europe, including German shipbuilders, Italian carpenters, French interior design firms and Spanish marinas , which together employ thousands of people. Imperial Yachts is at the center of what is essentially an oligarch-industrial complex, overseeing the flow of billions of dollars from politically connected Russians to that network of companies, according to interviews, court documents and intelligence reports.

Imperial Yachts and BLD are now under scrutiny by a U.S. government task force, called KleptoCapture, that is trying to disrupt the Russian war machine by going after the assets of oligarchs tied to Mr. Putin. After some high-profile raids and seizures, the Americans are focusing on the network of enablers working outside of Russia. Investigators from the F.B.I., the Treasury and several intelligence agencies are gathering evidence showing that businesses and individuals knowingly aided Russians under sanctions whose wealth came through corruption, making them vulnerable to U.S. charges.

Andrew Adams, a federal prosecutor leading the task force, said in an interview that “targeting people who make their living by providing a means for money laundering is a key priority.”

Documents obtained from the Amadea by U.S. officials show the role Imperial Yachts plays in managing the myriad requests of stunningly rich, seaborne Russians. The Amadea is now in Fiji, where American officials are fighting a court battle to take possession of the yacht. Mr. Adams said that Russian superyachts that don’t find a buyer may be sold to salvagers for their pricey fittings: gold-plated bathroom fixtures , marble, inlaid floors made of rare wood.

In pursuing the enablers, American and European investigators have confronted a deliberately confusing ownership structure involving daisy chains of shell companies stretching from the Marshall Islands to Switzerland. Along with the Amadea, Imperial Yachts oversaw the construction of the Scheherazade, a $700 million superyacht that U.S. officials say is linked to Mr. Putin, and the Crescent, which the Spanish police believe is owned by Igor Sechin, chairman of the state-owned oil giant Rosneft.

A secret U.S. intelligence assessment concluded that the money to build the ships came from a group of investors led by Gennady Timchenko, a confidant of Mr. Putin and one of Russia’s richest men, who, like Mr. Sechin, has been under U.S. sanctions since 2014. Mr. Timchenko and his partners designed the Scheherazade — seized in early May by the Italian police — as a gift for Mr. Putin’s use, according to the assessment. Together, the three vessels may have cost as much as $1.6 billion, enough to buy six new frigates for the Russian navy.

Simon Clark, a lawyer for Imperial Yachts, said that the company “is unaware of any connection between our business and Mr. Timchenko. However, we are in the yacht-building business; we are not involved in our clients’ financial affairs.” Mr. Clark added that the company has “never conducted business or provided services to any parties subject to international sanctions.”

But U.S. officials are not buying such explanations. Elizabeth Rosenberg, the assistant secretary for terrorist financing and financial crimes at the Treasury Department, said it was the responsibility of people in the yacht services industry to avoid doing business with people under sanctions.

“And if you do,” she said, “you yourself will be subject to sanctions.”

Courting Russia’s Wealthiest

Mr. Kochman, 41, got his start in the yacht business in Russia in 2001, the year after Mr. Putin took power, selling Italian-made yachts . Russia had been through a decade of turmoil after the collapse of the Soviet Union, and many of today’s oligarchs had yet to amass their billions. But Mr. Kochman, then just 20 years old, had plenty of millionaires to court.

As some well-connected Russians joined the ranks of the world’s wealthiest people and began to buy up villas on the French and Italian Rivieras, Mr. Kochman moved to Monaco. Instead of selling mere yachts, often made on a production line, Mr. Kochman and his sister, Julia Stewart, now 46, entered into the world of superyachts, custom-made vessels of about 100 feet or longer. “We grow with our clients like parents with babies,” he said in 2016 in a rare interview .

Company records in Monaco show that Imperial Yachts was set up in 2008. The business also registered that year in the secrecy haven of Jersey in the English Channel.

But Mr. Kochman was still spending a lot of time in Moscow. That year he attended an exhibition for the ultrawealthy, with one of his British-built yachts on display. “We buy your yachts and you buy our gas,” Mr. Kochman told a Guardian reporter. Soon, his business took off.

Rich Russians and Persian Gulf royalty now dominate the ranks of owners of the world’s most extravagant superyachts, which can cost up to $75 million a year to operate . Since 2010, 17 superyachts 400 feet or longer have been delivered; all are owned by Russians or members of the Gulf monarchies.

In about 2014, Imperial Yachts landed its biggest project to date, a 349-foot superyacht to be constructed by Lürssen, a German shipbuilder: This would become the Amadea. Its Russian owner was sparing no expense, with hand-painted Michelangelo-style clouds above the dining table, a lobster tank, a fire pit and, at the bow, a five-ton stainless-steel Art Deco albatross figurehead . Nick Flashman, a former yacht captain who had joined Imperial, oversaw the project. Zuretti, a French firm, did the interior design.

Sébastien Gey, the director at Zuretti, said in an interview that the yacht’s owner — whom he declined to name because of nondisclosure agreements — was deeply involved in its design and construction, making frequent visits as the ship was built and outfitted. It was delivered in 2017.

But even before it was finished, the owner had Lürssen build another, larger superyacht, the Crescent, delivered in 2018, followed by the even bigger 459-foot Scheherazade, which went into service in 2020. Most of the planning and details for those two vessels were left to Mr. Kochman, recalled Mr. Gey.

That, Mr. Flashman said, was not unusual. “The client may be fully immersed in the project, he might not be,” he said in a phone interview. “I channel everything through Mr. Kochman.”

While Imperial Yachts oversees the projects, Lürssen, based in Bremen, receives payments directly from yacht owners, a company spokesman said. Lürssen is following “all sanctions and associated laws,” he added.

“We are not currently working with anyone on the sanctions list and we have shared all requested information with the authorities, with whom we continue to work,” the spokesman said in an email.

Mr. Gey, from the French design firm, said it does not work with people under sanctions.

The owner of all three vessels — at least on paper — was Eduard Khudainatov, a onetime pig breeder who is a protégé of Mr. Sechin, according to interviews with two people with direct knowledge of his role. Documents filed in a Fiji court show Mr. Khudainatov’s ownership of two of them. He was president of Rosneft when Mr. Sechin served as deputy prime minister. After stepping down from that post in 2013, he began buying up oil companies.

In 2020 Proekt, an independent Russian media outlet, citing an unnamed acquaintance, described him as a compliant and agreeable lieutenant: “Khudainatov knew how to give the impression of a simpleton, which is why he managed to please many bosses and make a career.”

Mr. Khudainatov, 61, had another appealing quality: Unlike Mr. Sechin or Mr. Timchenko, he was not under any sanctions.

But according to U.S. investigators, Imperial Yachts brokered the sale of the Amadea late last year to Suleiman Kerimov, a Russian government official and billionaire investor who has been on the U.S. sanctions list since 2018. He was among a group of seven oligarchs who the American officials said “benefit from the Putin regime and play a key role in advancing Russia’s malign activities.”

Showing that he was the new owner was key in what so far appears to be a successful effort by U.S. officials to persuade a Fijian court that the Amadea could be seized. The ship may leave this week. But in arguing its case, the U.S. investigators lacked official documents showing that Mr. Kerimov was the owner. Feizal Haniff, a lawyer in Fiji, disputed the U.S. claims, saying that Mr. Khudainatov remains the owner of the Amadea, controlling it through an offshore company.

In an affidavit, Timothy J. Bergen, special agent for the Federal Bureau of Investigation, said that Mr. Khudainatov, who doesn’t appear on lists of Russia’s richest people, was a “clean, unsanctioned straw owner” of the Amadea and the Scheherazade. Mr. Bergen said that Imperial Yachts, referred to as “Company A” in his affidavit, “has a practice of concealing yacht ownership behind nested shell companies” and using stand-ins like Mr. Khudainatov “in order to conceal the true beneficial owner.”

Mr. Clark, the lawyer for Imperial Yachts, said the company “would never knowingly create structures to hide or conceal ownership, nor would we knowingly broker deals to sanctioned individuals.”

Mr. Khudainatov, Mr. Timchenko and Mr. Kerimov didn’t return emails and phone calls seeking comment.

One thing is clear, according to the U.S. task force: Members of Mr. Kerimov’s family were on board the Amadea earlier this year, based on investigators’ interviews with crew members, reviews of emails between the ship and Imperial, and other documents from the superyacht including copies of passports.

On Jan. 21, Mr. Gey, the French designer, received an email from the captain of the Amadea. G2 — Imperial’s code name for Firuza Kerimova, Mr. Kerimov’s wife, according to the affidavit from the F.B.I. agent — was unhappy with the design of the electrical sockets in the guest bathrooms. They were in the cupboards, inconveniencing the family on their Caribbean tour.

The captain had been told of the request by Ms. Pastukhova, the Imperial client coordinator. Mr. Gey booked a flight and a hotel in St. Barts.

A few days later, Imperial Yachts signed off on another request. “Mr. Kochman has granted permission to sail to Antigua,” Ms. Pastukhova wrote to Ms. Kerimova. Mr. Kochman’s approval was also needed for a new onboard pizza oven.

“He wants to have an eye on everything, everything, everything,” Mr. Gey said.

An Italian Downton Abbey

With its colorful homes aging gracefully in the Mediterranean sun, and its harbor holding dinghies in neat rows, Portofino is the archetypal Italian seaside village. Strict conservation laws, in place since the rule of Benito Mussolini, are meant to ensure that it stays that way.

Portofino is a playground of the rich. Superyachts clutter the coast. Last month, Kourtney Kardashian was married there. And these days, a massive construction crane looms over the village, dominating the skyline.

Beneath the crane is Villa Altachiara, a 30-room mansion built in the late 19th century by a British earl. His son, the fifth Earl of Carnarvon, sponsored the expedition that discovered the pharaoh Tutankhamun’s tomb in 1922. Some locals believe the villa is cursed. In 2001, its owner, an Italian countess, fell to her death from the steep hill leading to the sea, her body washing up in France.

The name Altachiara is an Italian translation of Highclere , the palatial Carnarvon estate in Hampshire where “Downton Abbey” was filmed.

When the villa, complete with a helipad, a pool and an eight-acre park, was sold in 2015, everyone in Portofino soon knew who the new proprietor was. “Villa Altachiara will speak Russian,” read a headline in the Genoa newspaper. The owner, the paper reported, was Eduard Khudainatov.

The cast of characters restoring Villa Altachiara to its former glory is familiar. Mr. Kochman’s BLD Management is supervising the project. Mr. Gey is helping to oversee the local and international artisans restoring the interior of the mansion. Yachtline 1618 , an Italian high-end carpentry company that has worked on Imperial Yachts projects, is also involved.

It has been seven years since the purchase, and construction was underway this winter, but the work stopped and the crews left at about the time of the Russian incursion into Ukraine, several local residents said. The towering crane remains, along with some green nets meant to help restore the erosion-preventing terracing.

Locals have never seen Mr. Khudainatov. Mariangela Canale, owner of the town’s 111-year-old bakery, said she was worried that Portofino would become a place where the homes were mere investments, owned by wealthy people who rarely visited, and the community would lose its soul. “Even the richest residents have always come for a chat or to buy my focaccia bread with their children, or have dinner in the piazza,” she said. “They live with us.”

Company records indicate that Mr. Kochman got into the villa business years after his yacht business was flourishing. BLD Management was set up in Jersey in 2016 through Fiduchi Group , the same offshore corporate services firm that registered Imperial Yachts. Mr. Kochman owns 5 percent of each company; the rest is hidden by a company called Fiduchi Trustees Limited. Both Mr. Kochman and Fiduchi declined to comment on the shareholding.

Much of BLD’s business is in Russia, especially around the Moscow area where it builds dachas for wealthy Russians, often with interior designs by Zuretti and carpentry by Yachtline 1618. BLD’s website lists a Moscow address and is in English and Russian.

But the idea is the same as with Imperial Yachts: work in total secrecy.

“Everything is under very strict nondisclosure agreements,” Mr. Gey said. “It’s a standard in the industry.”

He added, “It’s not like there is something to hide.”

Ivan Nechepurenko contributed reporting.

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Gaia Pianigiani is a reporter based in Italy for The New York Times.  More about Gaia Pianigiani

Julian E. Barnes is a national security reporter based in Washington, covering the intelligence agencies. Before joining The Times in 2018, he wrote about security matters for The Wall Street Journal. More about Julian E. Barnes

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Targeting super yachts owned by Russian oligarchs could hit a nerve in Moscow

Poor transparency around ownership of assets can cause challenges, experts say.

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With sanctions levied and financial assets seized, Russian oligarchs have been scrambling to get their super yachts out of Western ports in search of safer harbours. 

One yacht, said to belong to Russian President Vladimir Putin himself, abruptly left port in Hamburg, Germany, just weeks before the Russian invasion of Ukraine prompted wide-reaching sanctions. Others were not so quick to leave European ports. 

Authorities in La Ciotat, on France's Mediterranean coast, seized a yacht they say is linked to sanctioned Russian oligarch Igor Sechin, the CEO of state oil company Rosneft. He was Russia's deputy prime minister from 2008 to 2012.

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Industry watchers say oligarchs everywhere are trying to keep their yachts from being taken.

​​"There's a few yachts that we are watching at the moment in the Atlantic," said Sam Tucker, head of super yachts at the firm VesselsValue, which tracks and estimates the value of these giant luxury yachts. 

"I'm expecting some of them to start doing U-turns in the middle of the ocean," he told CBC Radio's Day 6 .

Western countries have imposed a punishing package of sanctions and export control restrictions on Russia in response to the invasion of Ukraine. Russia's biggest banks were hit, as was the country's central bank. Major state-owned companies and some of the country's wealthiest individuals have seen overseas assets frozen.

The investment bank JP Morgan Chase believes Russia's economy will shrink 35 per cent in the second quarter of 2022 and seven per cent for the entire year.

White House spokesperson Jen Psaki says the suite of sanctions is meant to make every aspect of life difficult on Putin and the oligarchs who protect him.

"What we're talking about here is seizing their assets, seizing their yachts and making it harder for them to send their children to go to colleges and universities in the West," Psaki said in a briefing this week. "These are significant steps that will impact the people who are closely around President Putin."

<a href="https://twitter.com/hashtag/Putin?src=hash&amp;ref_src=twsrc%5Etfw">#Putin</a>´s Yacht "The Gracefull" inbound Kaliningrad from Hamburg in anticipation of future sanctions due to the conflict in <a href="https://twitter.com/hashtag/Ukraine?src=hash&amp;ref_src=twsrc%5Etfw">#Ukraine</a>. <a href="https://t.co/qdhAUhCH1m">pic.twitter.com/qdhAUhCH1m</a> &mdash; @GDarkconrad

Symbolic target

The yachts themselves are worth hundreds of millions of dollars, but experts in Russian sanctions say this isn't just about the dollar value.

"They don't have much value compared to the total net worth of an oligarch," said Bill Browder, a long-time advocate for stiff sanctions against Russian oligarchs, in an email to CBC Radio. 

But they are "a highly symbolic attack on something coveted by the oligarchs."

These ultra-luxurious ships became a status symbol for the oligarchs as they amassed fortunes in the 1990s and early 2000s.

"There is a bit of oneupmanship," Tucker told Day 6 . He says the biggest and most expensive ships are cloaked in secrecy. They have extreme privacy and security features, including bulletproof glass, and some require crew to sign non-disclosure agreements.

But Tucker says the biggest security and privacy feature of all is the opaque ownership structure of the yachts. He says precious little information about who actually owns these ships is available.

"[Only] basic information is disclosed — for example, the registered owner — which is often a shell company or a 'special interest vehicle' registered in Monaco, Malta, [or the] Cayman Islands," he said.

Untying those knots is a notorious problem, but one usually confined to taxation issues.

"One thing that I think may come out of this whole situation is the increased call for transparency and transparent ownership," said Tucker.

Yachts on the move

So far, only four super yachts have been seized, including a 213-foot yacht owned by Alexei Mordashov in Imperia, Italy.

While authorities sift through the byzantine paper trail of ownership, other oligarchs have scrambled their crews to get the yachts to somewhere safe.

"One of the things I've been trying to figure out is, where do they go [next]?" asked Alex Finley, a former CIA officer living in Barcelona, in an interview with  As It Happens host Gillian Findlay .

This week, Finley tweeted photos tracking a ship said to be owned by Roman Abramovich, the Russian billionaire who owns the Chelsea Football Club.

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"A lot of these yachts that we've been looking at are heading towards the Maldives or the Seychelles. A few are in Montenegro, but they look like they're probably going to be on the move," Finley said in the interview .

Here you can see the sterns of both Aurora and Valerie, and in the other pic, the empty slip where Solaris used to be (which is the size of the empty hole in my heart). 7/ <a href="https://t.co/Luvj5vyWXp">pic.twitter.com/Luvj5vyWXp</a> &mdash; @alexzfinley

Neither the Maldives nor the Seychelles signed onto the sanctions, so the ships are probably safe from seizure there. Another major hub is Dubai.

"I think we're going to see Dubai as a big hotspot for these yachts," said Tucker. "It has hot weather all year round and … Russians can fly to Dubai without going through the EU airspace."

Tucker agrees that targeting the yachts is a symbolic move.

"It's really sending the message that they aren't untouchable. We've closed the skies on both sides of the Atlantic so their private jets can't operate, and now we're going after their super yachts," he said.

"I'd be feeling quite vulnerable if I was an oligarch right now."

ABOUT THE AUTHOR

Senior Business Reporter

Peter Armstrong is a senior business reporter for CBC News. A former host of On the Money and World Report on CBC Radio, he was previously a foreign correspondent and parliamentary reporter for CBC. Subscribe to Peter's newsletter here: cbc.ca/mindyourbusiness Twitter: @armstrongcbc

Interview with Sam Tucker produced by Rachel Levy-Mclaughlin

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