Establishment of ownership: A wealthy magnate acquires a Dutch shipyard specialized in building luxury yachts for affluent individuals, such as Jeff Bezos.
In an unexpected move, Gabe Newell, co-founder of Valve Corporation, has entered the world of luxury yachting by acquiring Oceanco, a renowned Dutch manufacturer of superyachts. The announcement was made in a press release on August 1st, with Newell expressing his intention to "leave the team alone," while also hinting at the potential for his technical background to influence production in the future.
Oceanco is known for delivering only a few completely customized ships each year, and the construction of Jeff Bezos' sailing yacht Koru, which was delivered in 2023, had its share of controversial moments. Despite these challenges, Koru was praised for its aesthetics upon delivery.
The acquisition of Oceanco by Valve, the company behind popular video games such as the "Half-Life" and "Portal" series, and owner of Steam, the largest PC gaming platform, has sparked speculation about the future of superyacht design. The press release hinted at a potential fusion between the worlds of yacht building and video game development, asking, "What happens when you let yacht builders talk to world builders? When craftsmen gain access to technologies usually reserved for game developers and mad scientists?"
Oceanco yachts are typically priced in the nine-figure range, with prices for ultra-luxury custom models reaching nearly €300 million. For instance, the Oceanco superyacht H3 recently listed at about €295 million, showcasing radical and highly luxurious transformations for a 105-meter yacht. Another example is the 90-meter yacht, Luna, listed for approximately €218 million.
Owners of Oceanco yachts tend to be high-profile billionaires and magnates, although specific names for current Oceanco owners were not detailed in the provided sources. The company has built yachts for influential clients worldwide, including the 127-meter long Koru, one of the most prestigious superyachts in the Oceanco fleet.
Other notable Oceanco projects include Alfa Nero, an 82-meter long yacht seized from a Russian oligarch in 2023, and Bravo Eugenia, the 109-meter long yacht of billionaire Jerry Jones. Gabe Newell himself is the owner of the 91.5-meter long yacht Draak, which boasts a helicopter landing pad, spa, fitness studio, and swimming pool.
The amount paid by Newell for Oceanco was not disclosed, but rumors suggest that he will also be the future owner of the Oceanco Y722, an 111-meter project set to be delivered later this year. The prices of new deliveries from Oceanco are largely kept secret, but the price range of six Oceanco yachts currently for sale can range from $5.8 million (around €5 million) to $341 million (approx. €294 million). These vessels range in length from 49-meters to 105-meters, with the oldest being from 1995 and the most recent being from 2000.
As Newell settles into his new role, the future of Oceanco and the world of luxury superyachts remains an exciting prospect. With the fusion of Newell's technical background and Oceanco's renowned craftsmanship, we can only imagine the innovative and groundbreaking designs that lie ahead.
Technology might find a place in sports-like yacht construction as Gabe Newell, known for his work in video game development, ponders over the potential impact of his technical background on the production of superyachts at Oceanco. What happens when a yacht builder speaks with a game developer? Could the merging of these two fields revolutionize the aesthetics and capabilities of luxury yachts?
