The 95-meter yacht known as the Indian Empress has sold at auction for €43.5 million, for $50.8 million US.
This gigantic yacht— which is a whopping 95-meters is 311 feet 8 inches— had been under dispute since September 2017 when it was impounded in Malta. In March, the Indian Empress was impounded on behalf of 13 creditors who are owed €2 million. Proceeds from the auction will also go towards paying the 40-person crew who are owed anywhere from $6,250 to $92,000 each, which over $615,000 of those wages have already been secured. The estimated amount of wages that are unpaid is estimated to be around the $1 million mark. Obviously, a lot of people are owed a lot of money. The crew members have seen about four months worth of pay returned to them so far thanks to the proceeds from the sale.
It's a good thing that the money has been secured to pay off the crew members along with the other creditors. The money must be deposited in court within the next seven days to pay off the crew, creditors, and the Nautilus International members.
Boat International reported on the auction which happened June 28, 2018. Before this, the boat was purchased by Vijay Mallya in 2006. He's a business mogul who supposedly owns Kingfisher beer. Before that, the yacht was previously owned by the Qatari Royal Family.
The Indian Empress was originally called the Al Mirqab when it first launched in 2000. The hull was built in South Africa, but the assembly would be finished in the Netherlands. The yacht also features three 10,000 horsepower engines that allow it to reach a top speed of 24 knots. Which is equivalent to 27.6 mph, for a boat of its size it is quite fast.
The Indian Empress was first launched in the year 2000. She can house 12 passengers and up to 30 crew members at any given time. After 16 years of service, she received a refit in 2016. This boat has obviously had an interesting history, dating back to when it was launched by Oceanco. It's only been back in the water for two years, so it will be a long while yet before she gets another retrofit, but it will be interesting to see what stories she adds to her history from here on out.