Malayasia’s Boustead Yachts (BY) is in negotiations with an unnamed but established European superyacht yard to start building production superyachts between 25m-30m (82ft-98ft).

The talks have been underway for some time according to BY manager Brendan Wright who says the project is likely to move forward significantly at the end of the year.

Earlier plans in 2007, to build two 74m (243ft) motoryachts in a joint project with Monaco Yacht & Technologies (MYT) is still alive but on hold because of the current market, says to Wright.

BY currently has capacity to build up to 60m (197ft) and was prepared to expand it facilities to cope with the larger yachts.

In the meantime BY continues to be keep busy with refit and repair including recent complete overhaul of the mast belonging to the 34m (111ft) sailing yacht Obsession II.