Troubled superyacht builder launches latest boat

The Alloy Yachts 44.1m HEY JUDE

Superyacht manufacturer Alloy Yachts, who confirmed they would be cutting a number of jobs last week, have just launched their latest superyacht 'Hey Jude'.

The 44.1 metre long yacht weighs in at just under 500 gt (gross tonnage) and was launched yesterday morning with more than 300 employees, guests and owner representatives present for the launch.

Speaking at the launch David McQueen, representative for the yacht's owner, said he had enjoyed working with the Alloy Yachts team, who he said had done an amazing job.

"Working with Alloy Yachts was an absolute pleasure. Your professional team made this project a satisfying experience that we hope to be able to repeat," McQueen said.

The yacht is the first design from renowned yacht designer Sam Sorgiovanni, to be built by Alloy Yachts. Managing director of Alloy, Tony Hambrook said the designers, McQueen and the yacht's captain, Paul Maguire made a confident team throughout the design and build process.

Hey Jude will be handed over to her new owners, understood to be one of Westfield Group co-founder Frank Lowy's sons, in December.

The yacht is the last contract the company has at present, but Hambrook said they were actively looking to secure new contracts, with staff having a break over the Summer.

The company reportedly shed up to 130 jobs today, after Hambrook said it was not feasible to keep staff on without active work.

Despite recent struggles, Hambrook was confident the company would be able to bounce back, and was looking at other options for the business including refit and maintenance work.