Get all your news in one place.
100's of premium titles.
One app.
Start reading
Businessweek
Businessweek
Sport
Stephanie Baker

Seizing a Russian Superyacht Is Much More Complicated Than You Think

Amadea, a superyacht worth $325 million, has been moored in the port of San Diego since June, unused, legally bound there for many more months, likely years. It’s 348 feet long, with six decks, and it looms over a waterside park where families come for picnics and anglers for mackerel. The US claims the owner is a Russian oligarch who’s been sanctioned; as evidence the government noted his recent purchases of a new pizza oven and superfast jet skis. Already on board were two baby grand pianos (one hand-painted), a 32-foot mosaic pool and what could be one of the last remaining Fabergé eggs, commissioned by Russia’s Imperial family and worth millions of dollars. All of that is now under the care of American taxpayers.

Listen and subscribe to The Big Take on iHeart, Apple and the Terminal.

And a superyacht requires a lot of care. It’s not possible to seize one, then leave it docked and untended until Russia’s war against Ukraine ends. It sits in a hostile environment of salt water and humidity that causes rust and mold unless the air conditioning is on. Amadea can generate its own power and desalinate its own water, and those systems must be maintained. The propellers need to be run regularly to prevent the buildup of barnacles. The yacht usually has to be washed weekly to avoid dirt accumulation that could damage the exterior and require a multimillion-dollar repaint job. The mooring lines must be monitored so they don’t break in high winds or strong currents. Normally operated by a crew of 33, Amadea still needs about half that many—from engineers to deck hands—rotating on board, available in case of fuel spills or fires. The yacht’s insurer requires all this maintenance; paying for that policy is another mammoth expense. The docking fees for any impounded vessel in San Diego, at almost $1,000 a day, have come to more than $120,000 so far. The annual cost of keeping Amadea in port: roughly $10 million.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.