Oyster completes first yacht under new ownership

Thu Jul 12 2018, 12:28 PM
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14 vessels currently being completed at Oyster’s sites in Southampton and Norfolk

Oyster Yachts has completed and delivered its first vessel since entering new management earlier this year. The Oyster 575 had been initially ordered under the previous ownership but had been left incomplete when the business fell into administration, leaving new leadership to take charge of finishing the yacht build.

An official champagne naming ceremony will be taking place in Ipswich later today, culminating in a launch party attended by the sailing yacht’s new owners as well as Paul Adamson (CCO) & Becky Bridgen (CFO), who will be there to welcome the latest addition to the Oyster family. The yacht, Marta III, was officially launched at 2pm today.

This follows news that under its new leadership, Oyster Yachts has agreed contracts to complete almost all of the orders which were underway when the previous company collapsed. There are currently 14 vessels being completed at Oyster’s sites in Southampton and Norfolk.

Since her completion the new yacht has been subject to Oyster’s safety and testing protocol – this included 4 weeks of sea trials.

The Oyster 575 model is designed predominantly for family sailing without professional crew, and uses a unique generation of Oyster hull shapes developed with Humphreys Yacht Design. Developed from years of experience building around 75 Oyster 56s and 45 Oyster 575 sailing yachts, Marta III provides an essential fourth cabin which can be used as a utility space or for an extra bunk and comes equipped with a generous sail locker and lazarette. The Oyster 575 boasts large interior space throughout, matching the headroom and bunk lengths of Oyster’s larger sailing superyachts.

CEO Richard Hadida said:

“With the completion of our first yacht, I am proud to say Oyster is firmly back in business. I am delighted that we have been able to complete orders which were originally taken under the old owners, finishing them up to the standard of excellence Oyster owners everywhere expect. As we rebuild the brand, it is important for us to focus not only on new customers, but existing members of the Oyster family.

“Our customers can trust that we have the expertise and capacity to deliver yachts that are true to the Oyster name. With… more legacy vessels currently under construction and new orders coming in all the time, we look forward to christening many more Oysters with a champagne welcome in the months and years to come.

We have hugely ambitious plans for Oyster. Today is a key milestone in our future growth.”