24 Jul 2015
CRN’s ‘Kanaloa’ for sale with Northrop & Johnson
Northrop & Johnson brokers Jonathon Browne and Ed Dickinson have listed the 48.2m CRN build M/Y Kanaloa for sale.
Kanaloa is currently undergoing a 24-month multi-million euro refit at Compositeworks in La Ciotat, France, and is set for completion next month. Amongst the work completed is a full hull restoration, restored teak decks, a full repaint, refitted crew quarters, and a new AV system.
She is packed with 2x Deutz (2,285HP) engines, which allow a 12-knot cruising speed. The monumental 8,800nm range is testimony to why she has had such an impressive charter history in the Mediterranean. It’s even more impressive when you realise that the average range of 45-55m motoryachts delivered this year has been 4,313nm.
With a build year of 1996, she is the fourth oldest yacht to be listed between 45 and 55m this year. If we look deeper into the 45 to 55m sales listings specifically, we can deduce that with an asking price of €6.5 million, she is one of the lowest priced motoryachts to be listed for re-sale in 2015 (45 to 55m), and is priced at roughly a third of the average listing price for the year, which is €20.08 million at this point.
Data from The Superyacht Intelligence Agency shows that in the last two quarters of the year, there were 13 sales made in 2014, 27 in 2013 and 18 in 2012 (45 to 55m). As you can see from the chart below, the quarterly sales have been somewhat sporadic in this size segment since 2012. In more recent times this segment has appeared to be less favourable, as only 18.6 per cent of all 30m+ sales last year were in the 45 to 55m size category; a drop from the 26.9 per cent made in 2013.
Year of build: 1996
CA: Northrop & Johnson
Asking price: €6,500,000
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