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Monday, March 1st, 2021
Home » Shipping » $34m super-yacht falls off of cargo ship

$34m super-yacht falls off of cargo ship

The 40m sailing My Song fell off a cargo vessel while being shipped from the Caribbean to the Balearics, where it was expected to make its appearance at the 2019 Loro Piana Superyacht Regatta.

Transporting yachts by sea

BBC Chartering has launched a dedicated division for yacht transportation.

Moving superyachts around from point A to point B is a specialized service offered in the maritime cargo industry. Yacht owners have different reasons for needing to ship their boat as cargo rather than sail it to where it is needed. Lack of time is a common reason. Others prefer to minimize the wear and tear on their ship. Another reason is that some yachts, particularly catamarans, are also well suited to the North Atlantic route back to Europe and are shipped as cargo instead.

Owner of the My Song

— Italian cashmere tycoon brothers Pier Luigi Loro Piana (right) and Sergio

The My Song’s owner is Pier Luigi Loro Piana, an Italian billionaire businessman. He hosts the annual Loro Piana Superyacht Regatta. Mr Piana is an heir to the luxury clothing company Loro Piana, which was founded in 1924 by his grandfather Pietro. He and his brother took the brand worldwide before selling an 80% stake to French luxury giant LVMH for $2.6 billion in 2013. Forbes estimates Pier Luigi’s fortune at $1.6 billion.

Have a yacht you need to ship?

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