Cargo Ship Turned into a Superyacht Worth a Whopping $62 Million

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With the arrival of the luxury yacht VARD 1-08 Kilkea, instead of the usual Caribbean or Mediterranean cruise that most billionaires enjoy, they can now extend their travels to any point in the world.

Two designers are working on the elegant ship, which is a converted cargo ship, so huge and capable that it can travel even on rough seas for thirty days without restocking on supplies. The 268-foot craft can accommodate up to 36 guests and a helicopter with a whopping price tag of $62 million.

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VARD 1-08 Kilkea is a project of Shackleton Superyachts & International Shipbuilders Vard and designed by Bannenberg & Rowell Design.

Its amenities include air conditioning, elevator, spa, swimming pool, barbeque, gym, helicopter landing pad, Jacuzzi (on deck), movie theater, submarine, and tender garage.

According to its maker, “VARD 1- 08 KILKEA is bestowed with unrivaled sea-keeping abilities, guaranteeing the upmost safety and comfort and is capable of traversing into uncharted waters for 30 days at a time without stocking up on supplies.

“The adventure-seeker also places an enormous emphasis on luxury and design. Expansive interiors and deck spaces provide ample salons, dining and relaxation areas to host a large number of guests.”

The ship’s framework is made of steel and will be colored white. According to the maker, the luxury yacht can run at top speed of 15.4 knots but glides at 12. And what’s more, it’s low on fuel consumption. The project is set to be constructed within the year, though there’s no word yet as to when it will be available on the market for the jet setters to enjoy.

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To be able to afford this superyacht, one should be an ultra-high net worth individual with a net worth not less than $30 million. And as of last year, there are only 200,000 of them out of more than 7 million world populace.

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That’s because owning one costs a lot. A study by an insurance company Towergate revealed that if one is planning to buy a superyacht, he or she should be willing to shell out 10 percent of the total value of the yacht to pay for operating costs.

One example is Roman Abramovich, he’s the owner of Chlease Footbal Club and has a net worth of $7.8 billion. He also owns a 533-foot watercraft with a missile defense system worth a massive $500 million. That’s a hefty $50 million!

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For a 232-foot yacht, the regular fuel consumption is about 500 liters an hour, which translates to $400,000 worth of fuel every year.

Another 15–25 percent Value Added Tax (VAT) plus $350,000 docking cost and another $240,000 for the insurance fee. On top of that, set aside about $1 million a year for boat maintenance and repairs and $1.4 million for wages of on-board crew.

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