In what analysts are describing as a new trend in the sector of luxury yachts with dubious ownership, Russian oligarchs are turning to Turkey as a safe haven for their toys. Another megayacht is fleeing for safety, racing to Turkey and quite possibly a spectacular “vanishing” act.
The megayacht in question is Titan, a $100 million vessel owned by Evraz billionaire Alexander Abramov. He is not currently on sanctions lists from the UK, Europe or the U.S., but he was included on the Australian list last month. Shortly after this, Titan left Dubai and is now “racing near top speed to reach the Suez Canal,”Bloomberg reports.
Since the start of the war in Ukraine in February, Titan has been docking in friendly ports in the Maldives and Dubai, which still welcome vessels of Russian oligarchs. However, the official inclusion of Abramov on one list of sanctions has prompted the search for yet friendlier waters, so Turkey seems to be the next obvious stop. Like many other superyachts before it, once it arrives in Turkey, Titan will probably stop broadcasting its location and “disappear.”
Titan comes with a $100 million price tag and was built on commission for Abramov, at Germany’s Abeking & Rasmussen shipyard, and delivered in 2010. With an interior and exterior design by Reymond Langton Design Ltd., it is the largest of three sister ships, measuring 78 meters (256 feet) in total length. Currently sailing under the Cayman Islands flag, it has a steel hull and aluminum superstructure, and can accommodate 14 guests and 19 crew.
Titan was never offered for public charter, so specifics and photos of onboard amenities are scarce. It is known, though, that it offers a personal gym, deck jacuzzi, and movie theater, and most likely the usual set of luxury features of many of today’s fanciest vessels. It was last refit in 2021, and it’s powered by twin Caterpillar engines of over 2,000 hp each, reaching top speeds of 16 knots (18.4 mph / 30 kph). Cruise speed is 14 knots (16 mph / 26 kph), with a range of 6,000 nautical miles (6,905 miles / 11,112 km) at 13 knots (15 mph / 29.6 kph).
According to the report, Titan is putting those Caterpillar engines to maximum use right now to avoid being impounded.
Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends. Full profile
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