$70k tank of fuel: What it really costs to own mega superyacht

If you think buying a superyacht is expensive, wait til you hear how much it costs to actually run, including $70k just for a tank of fuel. Take a look inside the mega yacht currently docked in Qld.

The reality of what it costs to run a superyacht will make your eyes water.

If you’ve ever dreamt of owning your own superyacht, keep dreaming.

The cost of cruising the high seas in absolute luxury doesn’t stop at the eye-watering price tag.

Even if you’ve just won Lotto or come into a hefty inheritance, a superyacht will prove to be a (ongoing) very expensive toy.

The biggest superyacht ever displayed at this week’s Sanctuary Cove International Boat Show, the Horizon RP125, costs about $70,000 just to fill with fuel.

Erica Rae aboard the Horizon RP125 at the Sanctuary Cove International Boat Show. Picture: Nigel Hallett

Admittedly, that’s about enough in one tank to circumnavigate Australia – but the expenses certainly don’t stop there.

David Good, CEO of industry group Superyacht Australia, estimated it would cost around $2.5 million a year just to keep the Horizon RP125 afloat, what with crew, maintenance, marine fees, provisioning and other costs.

The Horizon RP125.

“In general, running a superyacht will cost between 10 and 12 per cent of the value of the vessel every year,” he said.

“We used to say that vessels were worth about a million dollars a metre, but you can’t buy a new vessel (now) for anything like that – it’s more like $2.5 million to $3 million per metre.

“And the owners are spending about 10 per cent of that a year on running costs.”

Inside the Horizon RP125’s master stateroom.

The outdoor area is to die for.

The RP125, built by Taiwanese manufacturer Horizon whose boats start at around $8 million, boasts five en-suited cabins, three crew quarters, heated jacuzzi, opulent dining and entertainment areas and a garage built to accommodate a supercar.

The boat on show at Sanctuary Cove is owned by a mystery Aussie businessman, who took delivery of the vessel last month after upgrading from a Horizon RP100 (30.48m).

Finishing touches are applied ahead of the Sanctuary Cove International Boat Show. Picture: Nigel Hallett

The lower deck foyer.

The Horizon RP125 in action.

But the 38m floating mansion is a relative dinghy compared to some of the world’s biggest and most expensive superyachts.

Billionaire businessman James Packer’s yacht $280m, 108m superyacht IJE – believed to be named after his kids Indigo, Jackson and Emmannuelle and on which he has hosted the likes of Robert De Niro on Mediterranean jaunts – boasts 26 cabins, a nightclub, cinema, swimming pool and barber’s shop.

The superyacht’s huge galley. Picture: Nigel Hallett

Queensland’s richest man, mining tycoon Clive Palmer, owns a 54m yacht called Australia which he bought for around $40 million in 2021. The Italian-made vessel boasts a lavish timber-panelled dining room, bar, jacuzzi, floating pool, jet ski storage, an owners suite, a VIP suite and four staterooms.

The superyacht even has room for jetski storage. Picture: Nigel Hallett

The $1.5b, 162m Eclipse, owned by Russian billionaire Roman Abramovich, features two-dozen guest cabins, two swimming pools, two helipads, and multiple hot tubs and state-of-the-art security including a missile detection system, bulletproof windows in the primary bedroom and on the bridge, an anti-paparazzi shield and a mini-submarine to whisk away guests in the event of an attack.

The world’s most expensive superyacht is reportedly the $4.8b History Supreme, said to feature a statue made from genuine Tyrannosaurus rex bones, a liquor bottle embedded with an 18.5-carat diamond, and a primary bedroom with one wall made from meteorite and another from a 24-carat gold.

Even the crew has room for a separate lounge area on board.

However, the 30m vessel – reportedly owned by Malaysia’s richest man, Robert Kuok – has never been spotted in any major port, sparking suggestions it may be a hoax.

Mr Good said Australia’s superyacht fleet had “exploded” from 59 to 150 boats during Covid as well-heeled Aussie owners, unable to cruise the Mediterranean, brought their vessels back home.

He said many were now heading back to the Med but Australia was now luring increasing numbers of overseas superyachts, with many basing themselves in Queensland.

The “master head”, or ensuite.

“Southeast Queensland is by far the best spot for them to get work done and it’s year-round (good) weather,” he said.

“The superyachts chase the sun and the warm weather, and there’s very limited maintenance facilities down south. Here, you’ve got two massive shipyards – Gold Coast City Marina and The Boatworks – as well as three big shipyards in Brisbane.

“There’s a big pool of highly skilled (marine) trades here, including master tradesmen who did their apprenticeship at (luxury Gold Coast boat builder) Riviera 30 years ago.

“The world’s big yacht manufacturers will endorse them to do any warranty work because they know that their skill level is as good, if not better, than their own teams.”

The “VIP stateroom – one of three guest bedrooms.

Mr Good said Australia also had two of the world’s top superyacht manufacturers in Echo and Silver, which were making “one-off, bespoke vessels” costing tens of millions of dollars.

WA-based Silver made the largest superyacht built in Australia, the 85m Wanderlust, for Cambodian real estate mogul Yim Leak for a reputed $100 million. The vessel was cruising North Queensland last week.

There’s plenty of deck space for entertaining. Picture: Nigel Hallett

Mr Good said the international superyacht industry was buoyant but the biggest challenge was getting enough crew.

“There’s 19 vessels over 90 metres in-build at the moment and that will require 22,000 crew, and that’s on top of the existing fleet,” he said.

“A lot of them have rotational crews so if you have 40 crew members, you actually need 80 to fulfil it. Aussies are probably the most popular crew, because they’re comfortable on the water.”

Another of the guest bedrooms.

Originally published as $70k tank of fuel: What it really costs to own mega superyacht