Middle Eastern boatbuilder Gulf Craft is using the Dubai international boat show, which opened yesterday, to unveil its latest model, the Majesty 125. The inaugural 38m (125ft) is set to hit the water in May and will be, Gulf Craft says, the largest yacht in the world to be built using vacuum infused fibreglass techniques. It features a Jacuzzi on the flybridge, five en-suite guest cabins, owner's stateroom and room for eight crew.

In addition to the 125, the builder is also showing a new version of its 30.8m (101ft) model as one of the 14 yachts its exhibiting at the show. At the recent Abu Dhabi Yacht Show, Gulf Craft announced a 52m (170ft) design that will be built in conjunction with ICON Yachts in the Netherlands as part of the new alliance agreed with the company. SB understands that Gulf Craft will build up to about 42m (140ft) in its superyacht facility at Umm Al Quwain.

The company has admitted to cutting back production to cope with the fall in the market but its superyacht activities have reportedly remained strong and not been too affected by the downturn. However the change in the market climate has put back Gulf Craft's plan to go public. Erwin Bamps, COO, recently commented that: "It's not the right time and I don't see it happening in 2010 or 2011."

Superyacht Business / David Robinson, 10 March 2010