The Azimut Grande 120 SL is the first megayacht with a “sport luxury” vocation, capable of combining a sporty version with elegance and comfort.

The 120SL offers speeds up to 40 knots depending on the interior selected by the owner. Power comes from two Rolls-Royce water jets and a central booster.

At the 2012 Dubai show, Feadship will showcase the latest Feadship Future Concept called Qi (scale model only) which was unveiled at the 2011 Monaco Yacht Show.

The 56 meter (183.75 ft) concept yacht is named after the Asian concept for the life force that’s presumed to surround and flow through all creation.

Feadship luxury motor yacht Qi has four guest suites on the lower deck, each with a private terrace. The main deck lounge can be converted into a cinema with a 180-degree screen, an entertainment/party space or a seating area for relaxation.

This impressive Ferrari Hydroplane set an unrivalled world record in 1953 and is now set to fetch around $1.5 million at RM Auctions’ Monaco Sale.

Developed in 1952 by wealthy Italian industrialist Achille Castoldi and Ferrari Grand Prix racers Alberto Ascari and Luigi Villoresi, the speedy craft, propelled by a 4500cc V12, handily won the world speed record the following year.

The boat piloted by Castoldi averaged speeds well over 150 mph in 1953. It broke the 24 nautical miles record in the 800 kg category as the Arno XI averaged 102 mph.

UK yacht builder Sunseeker presents the new flagship tri-deck motor yacht Sunseeker 155, which is currently in build and is due to be launched in 2014.

With a 4500 nautical mile range, this is the first ever semi-displacement, round bilge and long keel hull from Sunseeker.

This yacht will reportedly have 40 percent more interior space than the company’s current flagship, the Sunseeker 40M.

China’s Shangong Heavy Industries has bought the Ferretti Group, taking over 75% of the Italian shipmaker’s capital.

Sleekly tailored with gleaming chrome accessories and luxurious saloons, the Ferretti Group designs some of the most exclusive yachts in the nautical world.

Ferretti has 8 yacht brands (Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN and Ferretti Custom Line) and owns a total of 8 shipyards.

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.