Russian billionaire Andrey Melnichenko's Sailing Yacht 'A' was temporarily impounded by Gibraltaran authorities over German debt claims. The superyacht has been shrouded in secrecy over the last two years of construction, and was finally released by builders Nobiskrug and sent to Spain for sea trials and final fittings.
But as she came into Gibraltar, officials seized the ship and held her there under claims that the final $16.2 million had not been paid by Melnichenko.
"With a project of this magnitude, there are sometimes outstanding issues to be resolved," a statement released by a PR spokesperson for S/Y A said. "We assumed the matter was progressing to a resolution, as Nobiskrug were happy to release the yacht on February 5 to the owner's project team for further works to be carried out in Spain. The money was paid by the owner the following day into an Escrow account pending a reolution of the discussions. All monies now being claimed are in arbitration, and there will be a tribunal hearing on Tuesday next week."
Lawyers from both parties have recently agreed to the terms of a financial security pending final resolution. "This unfortunate incident involving Sailing Yacht A has been resolved," said a spokesman for Melnichenko.
S/Y 'A' has three masts, each taller than the Statue of Liberty. Her LOA is the length of one-and-a-half football fields. She cost a reported $450 million to build. The yacht boasts an underwater observation pod (with 30-cm thick glass), hybrid diesel electric propulsion, and state of the art navigation systems. Doyle Sailmakers manufactured the three carbon fiber full roach sails. She has a helipad on the sixth (!) floor and needs a crew of 54 to operate. At top speed, she can cruise along pleasantly at 21 knots.
The megayacht was built in Kiel, Germany, by Nobiskrug for Melnichenko, a Russian industrialist with a personal wealth of $13.4 billion. He founded MDM Bank, one of Russia's largest banks, at the age of 21.
This is not his first super yacht, either. He also owns MegaYacht A, his powerboat. Melnichenko put the submarine-inspired yacht on the market in 2016 when he decided to upgrade to S/Y A. In 2013, he went against Azko Nobel for damages related to not one but two unsatisfactory paint jobs on Mega Yacht A. In the court documents, Melnichenko also requested damages to cover the cost of a replacement vessel while the motoryacht was being repainted.
