LURSSEN
Inside the Multimillion-Euro Refit of 73m Lürssen Coral Ocean
27 October 2022 • Written by Andrew Johansson
Taking on the challenge of refitting a legendary yacht, businessman Ian Malouf embarked on what he believes to be the largest self-managed rebuild to date. “The only thing I regret is getting off the boat. I really hate it – it’s crazy,” Malouf confesses, reflecting on his journey with the 73-meter Coral Ocean.
A New Era for Coral Ocean
Coral Ocean has been a yachting icon since its launch, symbolizing a new era for the German shipyard Lürssen. Her original Jon Bannenberg interior remained untouched for 25 years. When Malouf acquired her in 2019, the decision to refit rather than preserve was bold and risky.
Malouf, CEO of the digital charter platform Ahoy Club, recalls, “We were looking at another larger boat when someone from Lürssen suggested Coral Ocean. Anchored just outside Monaco, she was love at first sight. The visit with my wife and daughter only reinforced that emotion.”
A Vision for Transformation
Recognizing Coral Ocean’s historical significance, Malouf saw beyond the tribal-inspired interior to envision new possibilities. Delivered in 1994, she was a trendsetter with unique features like folding balconies and a wellness area. Despite his appreciation for her original layout, Malouf aimed to modernize and enhance her spaces.
A Journey Worth Undertaking
Undertaking the refit of Coral Ocean wasn’t just about preserving a piece of yachting history; it was about reimagining her for the future. Malouf’s vision and commitment have breathed new life into this legendary yacht, ensuring her legacy continues.
Join us in admiring the remarkable transformation of Coral Ocean, a testament to innovation, vision, and the enduring allure of the sea.
Setting Sail on an Ambitious Rebuild
Ian Malouf’s Coral Ocean has a storied past, and its transformation is nothing short of spectacular. “Her history has instilled some good feelings. I think it was quite a fun boat for many years, and there is nothing wrong with that,” Malouf chuckles.
A Family Affair in Monaco
In October 2019, Malouf and his family set sail from Monaco to get a closer look at their new yacht. They spent a week scrutinizing every detail, from pulling panels off to brainstorming changes. Their journey led them to the Spanish STP Shipyard in Palma de Mallorca.
A Mammoth Undertaking
“Initially, we thought the project was too big to self-manage at STP,” says build captain Will Kaye. “In the end, we did a €35 million project instead.” Kaye, who oversees Malouf’s European fleet, faced the challenge of coordinating nearly 200 contractors.
H2 Yacht Design joined forces with Malouf to gut and rebuild two and a half levels of the upper deck, adding approximately 150GT to the yacht’s volume. The owner’s suite now boasts skylights and panoramic 180-degree views. Four spacious guest cabins, including a full-beam VIP suite, offer unmatched luxury.
Unveiling New Features
Significant changes included replacing the original mosaic plunge pool with a glass-bottom spa pool on the sundeck. The refit also added retractable glass windows in the upper saloon, creating an indoor-outdoor experience. “Ian had a very clear idea about what he wanted,” explains James Bermudez of H2 Yacht Design. Keeping the pool’s location on the sundeck was a key design element.
Service and Sophistication
Service is paramount for Malouf, who added dedicated storage and workstations for the crew. “Having enough space as a crew to operate properly was all considered,” says Kaye. The rebuild was celebrated at the 2022 Monaco Grand Prix, impressing guests and industry leaders alike.
A Triumphant Return
The Coral Ocean’s transformation made it a hit in the charter market, with bookings pouring in. “It has had a good charter season and has come out of the blocks running,” says Malouf. His commitment, vision, and trust in his team paid off, making Coral Ocean a celebrated name in yachting once again.
Conclusion
Malouf’s trust in his team was crucial. “From when the real works began until the boat was finished, I never stepped foot on it. That shows the trust I have in the team,” he says. Coral Ocean continues to turn heads, proving that passion and commitment can achieve extraordinary results.
