The Italian Sea Group (TISG) has launched the second hull of its 53 m Admiral Panorama series. The launch took place just a few days before the company’s senior management stepped down.
The semi-custom yacht features an aluminium hull and superstructure, measures 53 m in length, has a beam of 9.1 m and a gross tonnage of 499 GT. Her exterior was designed by Piredda & Partners in collaboration with Admiral Centro Stile, while the interiors were created by Ramón Alonso of RADYCA.
The yacht accommodates up to 13 guests in six cabins. Highlights include an owner’s suite with a private balcony and a beach club featuring a sunken pool and fold-down sea terraces.
She is powered by a hybrid propulsion system combining diesel engines, electric motors and battery storage. According to the shipyard, the batteries can supply the hotel load for up to eight hours with zero local emissions. The system is also intended to improve efficiency while reducing onboard noise and vibration.
“The launch of the second hull confirms the strength and versatility of this semi-custom platform,” said Gianmaria Costantino, then Chief Commercial Officer of The Italian Sea Group.
Management steps down
A few days after the launch, TISG announced that Chairman and CEO Giovanni Costantino and Chief Commercial Officer Gianmaria Costantino had stepped down with immediate effect. According to the company, their resignations require the Board of Directors to be reappointed under Italian corporate law. The current board is expected to continue serving in an interim capacity until a new board has been appointed.
The leadership changes come as the company continues a restructuring process. According to media reports, the move follows significant cost overruns on several yacht projects. Reports also indicate that the Court of Florence granted TISG temporary protection from creditors earlier this month, giving the company 60 days to submit a restructuring plan.
The developments also come as the shipbuilding group continues to deal with the aftermath of the sinking of the sailing yacht “Bayesian”. The 56 m Perini Navi yacht – built before the brand became part of TISG – sank off Sicily during a storm in August 2024, claiming the lives of seven people, including British technology entrepreneur Mike Lynch. The accident remains under investigation. According to media reports, TISG filed a €456 million damages claim earlier this year against the yacht’s owning company and other parties. The company alleges that operational errors by the crew caused the loss, while investigators continue to examine possible technical factors as part of the ongoing inquiry.
