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Vega Yacht
Posted: Sunday, January 30, 2011 7:07 AM
Joined: 29/01/2011
Posts: 1

Hi, does anyone know anything about the 115 meter yacht that is being built in Japan by vega yachts?
Posted: Tuesday, February 1, 2011 7:46 PM
Joined: 29/12/2010
Posts: 8

It is supposedly being built in Shizuoka, which is on the South Coast of Honshu between the Izu Penninsular and Nagoya. This was the original location, however they did switch locations a couple of years ago to further West on the Island of Shikoku. Subsequently they advertised that they had switched back to Shizuoka, but now on their website they do not seem to have any Japanese location.

Some of the old Sterling guys are doing something with them (or were). We took a Japanese customer who wanted a very large yacht to the Shizuoka site when they were supposed to be there. We had spoken to the Sterling/Vega guys in Japan who told us that we could visit and that a representative would meet us there on the arranged day. When we got there after driving 3 hours, there was no one from Sterling/Vega there at all, no work being carried out. We asked the shipyard guys (the shipyard is a commercial ship builder) and they told us that Sterling/Vega had rented an office but no one had occupied it and they did not have a clue what was going on..

It was all very weird.

Back in 2005, when I went to the Vega booth at the Monaco Show, I asked about the projects to Richard Hein, formerly Ocean Co CEO. He told me that they had laid a keel and work was progressing fast.... seems like that was just a sales pitch...

Doing business in Japan is extremely difficult, not because the Japanese are bad at business, just because they do business in an entirely different fashion that is not often comprehended by Westerners. In addition, building yachts in a country where the labor rate is higher than the USA and Europe does not make much fiscal sense to me.

I would be surprised if they have done anything at all, but I will be checking it again when I go back to Japan for this summers cruising season. If anyone has more insight I would be interested to hear it.

Posted: Wednesday, February 2, 2011 10:57 AM
Very strange indeed. I briefly worked on the Riviera years ago with the people involved with Vega and still have blueprints, contracts etc...on Project Vega 852 in Shimizu between Hein, the russian owner, Zuretti etc... It all seemed very confidential and mysterious to me, and and I'm very happy not to be involved any more.
Posted: Monday, July 16, 2012 4:52 AM
Joined: 07/10/2009
Posts: 1

I have heard that the main yard for Vega was completely destroyed in the recent earthquake (not sure if it was the quake or the resulting tsunami)....supposedly, CEO Richard Hein was back in Monaco trying to rebuild some new business models and waiting to see if the yard was even going to be rebuilt...just one of thousands of sad stories associated with the disaster...I sure hope that Vega is resurrected as they sure had some tasty designs...I guess that only time will tell.


Posted: Friday, November 9, 2012 9:25 PM
Joined: 29/12/2010
Posts: 8

Hi MW... just saw your reply... I find it very hard to believe... and I think it is just a vicious rumour! As I say the yards they were using were in Shizuoka and Shikoku, and they did not see any tsunami... Shikoku did not even feel the quake as they are so far away... People fail to realize that the Quake (even though it was one of the most powerful ever recorded) did very little damage and I do not know of one person killed because of it... The resulting tsunami, however was a different story that has been welll documented... I have many friends affected by it and one friend who was the marina manager of Iwaki Sun marina which was completely destroyed. Anyway, people have to realise that Japan is 2,000nm from North to South... the Tsunami hit along a stretch of coastline called Tohoku... You can equate this with a stretch of coast like New Jersey on the Eastern Seaboard of the US... As far as I can tell Richard Hein has rebuilt multiple business models!! None of them have ever got anywhere... maybe due to his reputation of just about burying Oceanco. I am sure that the shipyard he was intending to use was not in the North East... If he is using the disaster up there as an excuse it is pretty poor! I prefer to believe that it is all whispers being blown out of proportion, though... Still I have heard big talk from him on many occasions, but I think it is all smoke and mirrors... I live half the year in Japan and I know most of the shipyards there, and have my finger firmly on the pulse of what is going on... I think he just does niot have customers or investors to get Vega off the ground. I agree with you some tasty designs... many shipyards in Japan capable of building those yachts... just has to find his customer and the correct way to work with the Japanese... I am not sure which will be more difficult for him!
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