A £30 million superyacht owned by a grocery mogul has been pictured sailing into a British harbour.
The bright red expedition superyacht named Akula after the Russian and Ukrainian word for shark sailed into Bristol on Tuesday morning.
The owner of the boat is understood to be Jonathan Faiman, co-founder of grocery retailers Ocado, and a former Goldman Sachs banker.
Its cost is unconfirmed but the yacht constructed by Italian shipbuilders Rossinavi on the Tuscany coast has previously been valued at around £30 million.
Weighing around 1,242 tonnes, the craft is described as ‘a luxury private expedition yacht designed with cutting-edge technologies, ensuring unparalleled safety and exceptional seakeeping performance.’
The yacht includes four guest staterooms, a gym, massage room, sauna and heated swimming pool, and more than 550 square metres of open deck.
The 59.4m long boat can reach a top speed of 15.5 knots, and can hold 10 guests and 13 crew members for up to 30 days at sea.
It is also designed to able to support scientists with their research activities including in oceanography, marine biology, and marine archaeology.
The bright red expedition superyacht named Akula after the Russian and Ukrainian word for shark sailed into Bristol on Tuesday morning
The owner of the boat is believed to be Jonathan Faiman, co-founder of grocery retailers Ocado, and a former Goldman Sachs banker
ts cost is unconfirmed but the yacht constructed by Italian shipbuilders Rossinavi on the Tuscany coast has previously been valued at around £30 million
The craft is described as ‘a luxury private expedition yacht designed with cutting-edge technologies, ensuring unparalleled safety and exceptional seakeeping performance’
The yacht includes four guest staterooms, a gym, massage room, sauna and heated swimming pool, and more than 550 square metres of open deck
It is also designed to able to support scientists with their research activities including in oceanography, marine biology, and marine archaeology
Registered in the Cayman Islands, the yacht is believed to be heading north from its winter mooring in Portsmouth, before its owner embarks on a scientific research support trip this year.
The owner told Boat International in January that the trip would take the crew to Scotland, the Faroe Islands, Norway, Iceland, Greenland and the US east coast, ‘aiming for the Caribbean and ultimately Central America’.
Mr Steiner, 56, went to Haberdashers’ Aske’s school in Elstree, Hertfordshire, before reading economics, finance and accountancy at Manchester University.
He worked as a bond trader for Goldman Sachs in London, New York and Hong Kong for eight years before quitting to launch Ocado in 2000.
The entrepreneur had the idea after reading about a grocery delivery company that went bankrupt in the US. He believed the concept would thrive in the UK, where the population density is far higher.
According to the latest figures, Ocado is currently the fastest growing grocer, a position it has held for the last 11 months, as its sales increased by 11.2 per cent.
Spending on groceries at M&S increased by 13.1 per cent, on top of its products sold through Ocado, according to analysts Kantar.
In 2019, the high-end grocers joined forces to create Ocado Retail, a 50-50 joint venture that gave Ocado customers access to M&S food.
According to the latest figures, Ocado is currently the fastest growing grocer, a position it has held for the last 11 months, as its sales increased by 11.2 per cent
Under the terms of the deal, M&S paid £562million upfront five years ago and the last £190million instalment was due in August last year. But payment of the final portion was dependent on certain targets related to financial performance being met.
Ocado failed to meet the goals in 2023 that would have led to the payment automatically being made.
This led to Ocado saying it could sue rival upmarket grocer M&S, claiming that it is owed millions of pounds in payments that were linked to performance.
The online supermarket’s boss said he is ‘confident we are owed substantial money’.
According to accounting rules, M&S could hand over just £28million – some £162million less than the maximum payment.
However, Ocado argued that the criteria should be revised to account for the Covid-19 pandemic.
Last month, the Telegraph reported that Ocado said they will to use ‘all available means’ to force M&S to hand over the £190m payment linked to online joint venture.
Ocado believes it has a “strong negotiating position” to achieve a settlement, with the two businesses in “constructive discussions”.
However, it said it would “look to use all contractual or legal means” to secure the payout if an an agreement can’t be reached.
Mr Steiner said: “We’re both very excited about the growth prospects for the business and how it’s performed over the last year and any kind of matters like [the final instalment], we can discuss in private.”
