But Heesen, the local shipyard that prides itself on “producing some of the best superyachts in the world,” is part of a close network of manufacturers and service companies for the super-rich who are now in control of the water because of their customer base. Their Russian oligarchs. Heesen eventually belongs to Vagit Alekperov, who runs the Russian oil company Lukoil and is under sanctions in the United Kingdom and Australia. The company, which says it is functionally independent of Alekperov, has built three Galactica yachts associated with him. He has also built two EU-approved links to UK and EU businessmen, Igor Kesaev. It is one of a network of companies in the European superyacht supply chain ranging from designers in Norway to manufacturers in Germany and Italy, brokers in Monaco and crews in the United Kingdom. They balance discretion in their activities with their fancy marketing and end products. Many are now watching nervously as governments intensify seizures in an escalating sanctions campaign against Russia over the war in Ukraine. Just this week, the Dutch government installed 18 yachts in restricted shipyards, while their ownership is being examined and it is confirmed that two more boats in the Netherlands for maintenance have links with people under sanctions. Egbert Wattel, chief executive of Younique Yachts in Makkum, another Dutch shipbuilding town, describes a long-standing culture of secrecy even for smaller boat builders like him: It was always like this. “It’s like being a doctor – you do not mention who the patients are.” Makkum has two huge dry docks – one 110 meters long and the other 120 meters – for super yacht equipment, allowing ships to finish while closed on all sides. They can handle all boats except the larger ones. The fishing boat in the shadow of the “Cathedral”, one of the two docks in Makkum that he used to hang superyachts © Chris Cook / FT Ferrye Jansen works in a fish bar in the shadow of the “Cathedral”, one of these constructions. He knows where many of his clients work. But they can not tell him what they did. “They buy their fish and potatoes, but they can say nothing. It is classified! . . . I swam there but I could not see anything. “ The Russians began actively buying yachts in the 1990s, as a select few made a fortune after the collapse of the Soviet Union. Roman Abramovich, who made his money from oil, was an early adopter when he bought Susuro in 1998. Dozens of others followed his example as the number of billionaires grew. The Superyacht Times, an industrial publication, estimates that Russian owners now account for 9 percent of the world’s 2,000 superyachts at least 40 meters long. In the 80-meter category and above, the Russians own one-fifth of the 153 ships, second only to buyers in the Gulf states. The world’s largest super-yacht, the 168-meter-long Dilbar, now blocked in Hamburg, is owned, according to the US Treasury Department, by Alisher Usmanov, a sanctioned oligarch close to Putin. Boat International, a research firm, says Russian buyers represent about 3.9 billion euros from a cumulative global order book of 35-40 billion euros. He says Italian shipyards are building the most super yachts for Russian customers, with 60 under construction, followed by the Netherlands and Turkey. Some companies have adapted their marketing to the dominance of Russian buyers. One person in the field described an event organized by a superyacht maker: “We were invited there and the only two languages ​​they spoke were Russian and English. “All the entertainment for the event was from the Russian Philharmonic.” The website of the Italian Sea Group yacht construction company, based in Carrara, Italy, is in Russian along with Italian and English. Russian buyers are known for their very expensive tastes. Along with saunas, helicopter cushions and even submarines, they require extravagant accessories, such as rare tropical woods, special skins and solid gold fountains. “It is a step below the Saudis,” said one broker. A Dutch craftsman stressed the obsession with detail and secrecy as characteristics of the industry: “The standards are incredible. You have to make things perfect. . . but it is so secret. If I did something amazing today, I can not show it to my mom. I am not allowed to take a photo of my work “. The Heesen shipyard has built luxury ships, including three Galactica yachts linked to Vagit Alekperov, who runs the Russian oil company Lukoil © Chris Ratcliffe / Bloomberg Superyachts are often owned by offshore companies, which disguises their ownership and can offer tax benefits. Sailing in international waters also provides some protection from the authorities on land. A former port guard in Antigua told the Financial Times that Russian superyachts often had armed private security guards. “It simply came to our notice then [alone]. “We can not look for such a large boat and we know that if we do, the owner may have a direct relationship with politicians, so we must be careful.” However, those who work in the industry say that owners usually spend a few weeks a year at most on their yachts. While there is an active resale market, they also offer low return on investment, as the annual operating cost is usually 10 percent of the purchase price. The need for large crews – typically men on deck, young and female inland and generally preferred to non-Russian speakers – as well as regular remodeling and online satellite monitoring along with their highly visible port presence also means limited discretion. However, several Russians have invested in the industry. Heesen was bought by Alekperov more than a decade ago and is being held through the Cypriot investment vehicle Morcell. The company said so “[condemned] violence in any form and [hoped] for a speedy resolution of the war “and that it” cooperated in full transparency with state bodies “. Its non-executive directors Pavel Novoselov and Pavel Sukhorutskin resigned after the Russian invasion. Imperial Yachts, a Monaco-based stockbroking company, was founded by Evgenny Kochman and his sister Julia Stewart in 2005 after several years of selling boats to Russians. It remains an influential middleman for Russian buyers, although it has since diversified its clients. The company said: “IY is a global company with an international customer base and we are confident that our business will continue as it does not depend on any specific geography. “While the sector will be clearly affected, it is difficult to understand what that will be.” Another broker, Burgess Yachts, a luxury suite with offices around the world, has a list of Russian clients – both landlords and those who want to rent for more than $ 500,000 a week. The company appeared to be removing details of 10 or more superyachts from its site after the invasion began. However, an unmodified mirror site used for testing purposes remains active, allowing users to see which vessels have gone. These include the Axioma, a 72-meter boat owned by Dmitry Pumpyansky held in Gibraltar last month and previously available for 299,000 euros a week. Pumpyansky has been sanctioned by the US since 2017. The Sky, a $ 40 million Kesaev-owned 50-meter-long vessel, was previously available for charter for $ 245,000 a week. Burgess said in a statement that it “continues to monitor closely the ongoing situation in Ukraine and adheres to the compliance and guidelines set by governments in the areas in which the company operates.” At Makkum, local business owners agree that superyachts are the city’s most important source of revenue. The yard directly employs 400 people, but also attracts a rotating staff of subcontractors, who drink in the city’s bars and stay in its hotels. But there is little sense of how the city’s economy will be affected by the sanctions. Subcontractors often do not have a clear picture of their end customers. Someone said: “To be honest, we do not have a good sense of who the customers are. Sometimes he goes out, or visits. “But I was working on something and I only realized who it belonged to when I saw that it was confiscated.” Others in the industry emphasize that they take care to follow the “rules of customer knowledge” and do not want to fall within the scope of sanctions. They also downplay the suggestion that repression could hit businesses. Rory Jackson, business editor for The Superyacht Group, a data and research firm, said: “I do not think it will make buyers wary. “It does not make sense to buy such a boat and then try to make it indistinguishable.” Additional references by David Keohane, Cynthia O’Murchu and Robert Smith