Microsoft co-founder Paul Allen spent the New Year holidays onboard his luxury yacht “Octopus” which sailed to the Maldives and was anchored in Addu Atoll.

While his private jet landed in Gan International Airport, he was flown to his private luxury yacht via helicopter.

The Octopus, built by Lürssen in 2003, is currently ranked as the world’s 12th largest yacht, just behind the Emir of Qatar’s 436-ft. Al Mirqab.

Abu Dhabi’s ADM Shipyards has just launched the 462.5 ft. megayacht Yas, which now ranks as the world’s 6th largest.

The yacht, whose design was adapted from a UAE Navy frigate, is rumored to have been commissioned by a member of an Arabic royal family.

The vessel features luxurious accommodations for up to 60 guests along with 56 crew and is capable of an impressive 26 knots maximum speed thanks to her military pedigree. Yas’ cruising speed is 20 knots with a transoceanic range.

A campaign, in the London Daily Mail, is afoot to build a new megayacht for the Queen of England and the British Royal Family .

Their previous vessel, the 412 ft. Royal Brittania built in 1953, was retired in 1997.

Codenamed FSP21 (Future Ship Project 21st Century), the 515-ft. vessel would be the third largest in the world, after those of Roman Abramovich and the ruler of Dubai.

With only nine months to go until the 2012 Olympics in London, the jockeying for position among megayacht owners is well underway.

Berths for about 30 yachts are being prepared around London’s waterways for the big event, but most of them will only accommodate smaller vessels.

Several more are expected to visit though they won’t all be in town at the same time.

Genoa is one of the largest boat shows of the year, with thousands of boats and a full program of ‘fringe’ events to ensure it caters for every nautical fan in town.

Some 450 debuts from the world’s biggest shipyards are expected for this 51st edition, spread over three pavilions and two marinas.

The largest flagship of this year’s show will be the CBI 50 ‘Alfos’, a 50 meter yacht, although there will be a dedicated mega-yacht area which is expected to boast some 30 boats with sizes up to 50 meters.

Kirsty Bertarelli, the richest woman in Britain and her husband Ernesto have bought the biggest motor yacht ever built in the UK, the 315-ft. foot Vava II.

The $160 million megayacht, which now ranks as the 33rd largest in the world, was built by Devonport Yachts in Plymouth and boasts luxury interiors, a helicopter landing pad, lavish guest cabins and four tenders.

Kirsty is a former Miss UK, while her husband is a Swiss pharmaceuticals magnate who has won the America’s Cup twice with his yacht Alinghi and is worth a reputed $10 billion, making him the 81st richest man in the world and the fifth richest in the UK.