LVMH acquired UK-based yacht builder Princess Yachts in 2008 and they are now entering the superyacht sector with the launch of the first of their M class vessels.

The first model in the series, the 32M, was unveiled at the London Boat Show in January 2011. It is also the first craft truly worthy of the world-class LVMH imprimatur.

For the yacht’s debut the company brought in some of its other brands, including Fendi, De Beers and Moet to demonstrate the glamour of the new range.

Teodorín Obiang, the son of Equatorial Guinea’s dictator of 30 years commissioned plans to build a superyacht costing $380 million.

According to Timeslive, it’s nearly three times what the country spends on health and education each year.

German company Kusch Yachts has been asked to build the yacht, housing a cinema, restaurant, bar and swimming pool, though construction has not yet started.

Brazilian yacht maker Intermarine has collaborated with BMW DesignworksUSA to develop an ultra luxury yacht that has been dubbed Intermarine 55.

Intermarine 55 is inspired by modern architecture and automotive surfacing, such as the BMW X6, and is scheduled to go on sale this July.

Highlights of the new yacht include two head compartments along with a master suite having queen sized bed and an enclosed shower.

Russian President Dmitry Medvedev has purchased a 53m superyacht valued at approximately $42 million as a venue to host world leaders in the 2014 Winter Olympics in Sochi.

The Kremlin bought the boat last year, the Guardian reports. The explorer type superyacht, which is presently called Leo Fun, will be renamed as yacht Sirius.

The yacht was built by Proteksan-Turquoise and Turquoise Yacht Construction for an Italian businessman and launched back in 2009.

Italian superyacht builder Pershing has launched a new hull in its flagship 115’ range with all the bells and whistles plus a gut-busting engine upgrade.

Fitted with twin diesel MTUs delivering a total of 7,400 hp together with the applied thrust of the two Kamewa Rolls-Royce water-jet propellers, the standard model has an impressive maximum velocity of about 38 knots.

The new 115’ features an additional Vericor TF50 gas turbine, typically used in the aeronautical sector, with a central water-jet propeller producing an additional 5,100 hp, for a total top speed of 52 knots.

Michael White of the Ocean Independence has listed the 70 metre Reverie for sale with an asking price of $75,000,000.

Massive volume and interior space, as well as huge deck areas set her apart. The luxury superyacht has been meticulously maintained and sensibly upgraded.

The magnificent Reverie has very versatile accommodation for between 18 and 24 guests in 8 cabins with a further two staff or guest cabins.