English yacht company, Sealine, is the latest to be hit by hard times. It is closing down two of its three sites and is set to lose 297 jobs (it employs around 630 people). The firm, which is based in Kidderminster, Worcestershire, is entering into a 90-day consultation process with its staff to reduce redundancies among its office and production workers. Sealine has been in business since 1972 and manufactures around 300 boats a year ranging from 25 to 60 feet. All their boats are constructed entirely in house. A spokesperson for the company has said that the current economic conditions are the reason for the downsizing.

The Wall Street Journal recently reported that Francesco Trapani, chief executive of Bulgari Group, sold his 137-foot yacht, the "Christianne B." The yacht, a beautiful sailboat built by Perini Navi in 1986 was for sale for a while through Cavendish White, first for 9.25 mullion euros in 2007 and then for 8.75 million euros before it sold this year. For a while the yacht was known as "the Bulgari yacht" and Trapiani sometimes conducted interviews on board. A gallery of pictures of this elegant yacht can be found here. Trapiani has said that he is being more frugal right now, not buying any more homes (although he did rent a vacation home this summer) and generally cutting back on his expenses.

At the Genoa Boat Show in Italy this week, BMW Group DesignWorks, a subsidiary of the German automaker, will debut the new high-performance luxury sailing yacht it developed in partnership with bespoke Belgian boat builder Zeydon. The 60-ft. Zeydon Z60 (above) "combines the sailing potential of a performance offshore yacht with the substantial equipment range and unaffected elegance of a modern luxury cruiser."

Available for order this fall, the exterior of the Z60 "presents regatta-oriented functionality, outstanding seaworthiness and a generously designed deck area," while the interior features "an equipment range that is commonly associated with much larger yachts [and] high-grade materials and design with a focus on precision and perfect functionality right down to the smallest detail," the company says. As we reported recently, Porsche also has a new line of luxury yachts in the works.

Amidst the catwalk flurry at Paris Fashion Week, a new collaboration made its debut: Evian and Jean Paul Gaultier. In the second of its designer series (the first pairing was with Christian Lacroix), Evian announces its release of two bottles designed by the Hermès creative director.

Gaultier has fashioned the Prêt-à-Porter bottle (interlocking snowflakes, oversized lettering) and the Haute Couture bottle (only seven produced worldwide). The Prêt-à-Porter version is available for pre-order on shopevian.com at $13.95 a bottle.

Russian billionaire Roman Abramovich's new $355 million, 555-ft. Eclipse, designed to be the world's biggest, will have a military-grade missile defense system to keep the oligarch safe. My colleague Deidre Woollard first reported on initial plans for the Eclipse back in January. Now further details are emerging about the megayacht (rendering above), which when completed next summer will be 25 ft. longer than Dubai ruler Sheikh Mohammed bin Rashid's 530-ft. Platinum, currently ranked as the biggest yacht in the world. Secrecy surrounds the Eclipse, but sources tell the London Times that an antiballistic missile defense system is being installed by AST, a company with close ties to both the Blohm + Voss shipyard in Hamburg, where the yacht is being built, and the German defense ministry.

The Eclipse is also being equipped with armor plating surrounding the bridge and Abramovich's master suite, as well as bullet-proof windows. There's also a submarine that can be launched underwater and dive to a depth of 160 ft. that doubles as an escape pod, as well as two helicopter pads. Civilian ships are not allowed to carry weapons and so have to limit themselves to defense systems, but Saudi King Abdullah bin Abdul Aziz gets around this by having his 482-ft. yacht registered as a Royal Saudi Navy vessel, said to be equipped with French-made Exocet missiles. Pirate attacks on luxury craft are on the rise of late. Abramovich owns three other megayachts already: the 377 ft. Pelorus, the 282 ft. Ecstasea and the 160 ft. Sussurro.

I've been hearing whisperings about this one for months but Italian yacht maker Ferretti is set to show of the the Mochi Craft Long Range 23, a yacht they say is the first hybrid yacht over 20 feet long that produces negligible tailpipe emissions. The yacht is a 75-foot tri-deck that has a a hybrid propulsion system. When running on diesel and cruising at eight knots, it emits 10 kilograms of carbon dioxide for each nautical mile. And the engine charges a battery pack that can also power the boat. In this diesel-electric mode, it emits less than half a kilogram each nautical mile.The NY Times reports that the yacht will cost around three million euros. The boat is being displayed at the Genoa International Boat Show, October 4-12. More pictures can be found at a listing for the boat on The Yacht Market.

French designer Thierry Mugler, known for his fetishistic fashions, is giving the world's fastest yacht a $5 million makeover. The 112-ft. Gentry Eagle (above), designed by racing legend Tom Gentry, earned the World's Fastest title when it broke Virgin tycoon Richard Branson's record for the speediest transatlantic crossing in 1989. In 1992 the Gentry Eagle was rebuilt as a pleasure craft, and is now being revamped once more as a collaboration between British yacht broker Weyves Yachts and Agent de Luxe, a fashion-design agency run by Donald Potard, former president of Jean Paul Gaultier.

When completed by October of next year, the yacht is expected to fetch about $10 million. "Yacht owners are using their vessels as places to entertain, and they want to express their personal style," Potard tells the Robb Report. "Crystal, chandeliers, metals ― the interior will have a distinctly 'Mugler-esque' feel." He says the designer drew inspiration from futuristic films like Barbarella and Star Trek, as those are Tom Gentry's personal favorites.

At the megabucks Monaco Yacht Show this past weekend in Monte Carlo, there was an estimated $4.5 billion worth of yachts on display, and none of the 98 craft on exhibit were under 100 ft. The biggest of them all however was the multistory, $200 million Anastasia (above) at 248 ft., recently completed by leading Dutch shipyard Oceanco for a Russian billionaire. Though the buyer's identity hasn't been confirmed, it's rumored to be Vladimir Potanin, the 25th richest man in the world with a fortune of $19.3 billion, the London Daily Mail reports.

The Anastasia features six decks, luxe quarters for 12 passengers and 20 crew members including a duplex master suite, a ten seat cinema, a discotheque with a laser light display and smoke machine, an artificial coral reef and 800-gallon fish tank, a swimming pool with a transparent wall, a sunbathing platform which converts into a stage for live music, a library upholstered in crocodile skin, and a hanger full of speedboats and jetskis.

Far from being an endangered species due to the grim economic outlook, these megayachts are more in demand than ever. In fact, the Anastasia is probably already worth more than Potanin paid for it. "People with $200 million to spend on a yacht tend to be above the credit crunch," Hugo Andreae, editor of Superyacht World magazine, tells the paper. "There are a lot them around, even if most are unknown to the wider world."

This home on 1.94 acres right on Long Island Sound offers more than a room with a view -- how about a whole house with a view? Located in Riverside, Conn. (part of tony Greenwich, where Kathie Lee Gifford and hubby Frank live) and built in 1956, this estate is offered for $12,900,000.

Sited in the gated Harbor Point Association, a peninsula of more than 500 feet of shoreline, this Contemporary Colonial offers the next owner the chance to build under current zoning for a new 11,000-plus square foot custom waterfront estate or live in the existing home, which is light-filled and recently updated with a cook's kitchen, built-in bookshelves, five tiled baths, new systems and new landscaping by a professional designer. There are two family rooms and two master suites among six bedrooms on both first and second floors. Three fireplaces and an artist's studio complete the picture.

Walk or jog to Elias Point, a sandy beach. A spectacularly landscaped enclave, historic Harbor Point is situated on the sweeping grounds of the former 49-acre Frederick T. Bonham estate, "Walhall," a legendary LI Sound private property with some of Southern Connecticut's best water views. The association's other amenities include a boat dock, boat mooring, picnicking and fishing privileges.

A post on SuperYacht Times led me to the sale listing for Watercolours, a 115-foot Trinity yacht which underwent an extensive refit in 2007. The refit remodeled the main deck and converted the formal dining room into a country kitchen with a forward view (perhaps following the trend of houses which are increasingly blending kitchen and dining areas). The yacht has four double staterooms for up to eight guests. The warm wood of the yacht gives it a feel similar to that of a sailing sloop. It is listed for $5.7 million through Northrop and Johnson and is based in Florida.

Last week the Belfast Telegraph and other sources reported that Bono had bought the 140-foot Cyan yacht. Now it turns out that the purchaser was a different member of U2, The Edge. Edge told the Irish Independent that he bought the £12m luxury yacht and that his wife Morleigh Steinberg has spent the past few months in the south of France redecorating the yacht. He says it was a dream to own a yacht and that he and a few friends chipped in to purchase the Cyan but that Bono doesn't have anything to do with. In fact, he is quoted as saying "Bono doesn't know a thing about boats."

The U.S. isn't the only place that financial titans run amuck. Above is a picture of the 82-foot sailing yacht Sirius which is a vessel belonging to Peter George, owner of the failed $200 million Elderslie Finance Corporation. As The Austrailian News reports, George, has put his yacht on the market with an asking price of $2.975 million Australian (around $2.5 million U.S.). George could get the proceeds of the sale within months but Elderslie's 10,000-plus investors won't be so lucky. They may have to wait years to see any money from the wind-up sale of Elderslie's assets. According to the article, PricewaterhouseCoopers has said that Elderslie investors may wait several years and could recover less than 40 cents on the dollar.

The Sirius is a custom sloop built in Brittany, France in 1987 by Dynamique Yachts. The listing at Ensign Ship Brokers says that over $5 million was spent on refurbishment and to allow sailing without a large crew. The sails are are self furling on a press button system and the main sail is hoisted and furled by an hydraulic push button arrangement. The wing keel design allows the boat to go into shallower waters than most boats her size.

The Australian reports that Mr George had also been a director of EC Consolidated Capital, a company that was accused of stealing millions of dollars from investors and liquidated in 1997. And they report that Elderslie's collapse had much to do with shady investments by Mr. George in companies he either owned or was associated with.

It has not been revealed if the Sirius was bought with Elderslie funds or if any part of the sale will benefit former investors. The story reminds me a little of that of the Endeavor, the beautiful sailing yacht once owned by former Tyco CEO, L. Dennis Kozlowski. Listing pics of the Sirius are in the gallery below.

Cute isn't usually a word you'd associate with submarines but the C-Quester 2 and C-Quester 3 submersibles from U-Boat Worx are like the Smart Car of the ocean. Superyacht Times reports that the new designs will be shown during the Monaco Yacht Show 2008. The two-person C-Quester 2 is designed to be a new toy for megayachts, while the three-person C-Quester 3 can be used by seaside hotels and resorts to offer guests a new experience. Each has a releasable safety buoy, air conditioning, underwater communication, altimeter, sonar, and optional video cameras and tracking systems. The electric C-Questers can dive up to a depth of 100 meters and run on a Lithium-Ion battery. The first C-Quester 3 will be launched at the end of this year with additional rollout scheduled for next spring. Drivers have to be trained as a submersible pilot before using.

The zippy little boat shown above is the Thames Flyer, a high-speed river boat that can zip along at speeds up to 40 m.p.h. You can be taken to one of London's pier-accessible restaurant or take one of their Champagne and canapé tours that is a round-trip from London Eye pier. The Evening Standard reports that the one-hour trip from the London Eye to Canary Wharf costs £600 an hour with Champagne an extra at £50 a bottle and there is a £100 an hour waiting fee.

Several sources are reporting that Bono, the charismatic and charity-minded lead singer of U2 has picked up a new toy, the yacht Cyan. The Cyan, formerly known as the Renalo, was built in 1997 by Codecasa yachts and went through a major refit in 1997. The 140-foot yacht has six cabins with room for 12 guests. Other features include an on-deck Jacuzzi, swim platform and a garage full of water toys. The Belfast Telegraph reports that Bono, his wife Ali Hewson, and their children vacationed on the yacht last summer.

The Cyan charters for between €140,000 and €175,000. It was not listed as being for sale but the estimated asking price is expected to be over €15m. Reports in the Italian media say Bono has repainted the yacht in blue and put in a new stereo system. Pictures of the Cyan from her charter listing are in the gallery below.