luxury

In Singapore, luxury is not having a Ferrari or a Lamborghini. True luxury is simply driving

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Singaporethat small city/country-state between Malaysia and Indonesia where there are barely more than five million inhabitants, is a place of contrasts. While the enclave has a high degree of government control and certain practices that can be classified as repressive, on the other hand, new technologies are embraced to the point of being a world reference in the public sphere towards AI. There, having a car is not a practical necessity, it is a statement of status. Driving in Singapore. The story was told a year ago. the new york times. In Singapore, owning a car is not practical, it is more of a statement comparable to wearing a designer suit or sporting a luxury watch. The reason? He property certificate system (introduced in 1990 to control congestion and pollution) requires citizens to pay astronomical sums just for the right to buy a vehicle. These certificates, known as certificates of entitlement (COE), can reach up to $84,000raising the total price of common automobiles to exorbitant figures more typical of a supercar. As insurance agent Andre Lee, who in 2020 paid $24,000 for a Kia Forte Second-hand, having a car was simply part of his professional image, although he later recognized that the expense was not justified and chose to sell it. The price in 2026. This year, the COE system has prices that exceed usually $100,000 Singaporeans (about 70,000–85,000 euros) just for the right to circulate for ten years. The different categories oscillate in that range, with large and premium cars reaching the highest figures, while even commercial vehicles and motorcycles have seen notable increases compared to previous years. This volatility, with biweekly auctions that can move prices by thousands of euros, reflects a deja vu: an extremely stressed market where artificial scarcity imposed by the State continues to be the dominant factor, even above the cost of the vehicle itself. An unnecessary luxury. The underlying problem is also explained from another side. With a public transport network affordable and effective, few residents They really need a car to get around the city. Long rides cost less than two dollars and transportation apps like Grab are available. widely available. Despite this, twice a month they celebrate COE auctionswith limited quotas set by the government. This policy has been very effective: Singapore has only 11 cars per 100 inhabitants, far below countries like the United States or Italy, where the figure exceeds 75. Other cities have adopted anti-congestion measures, such as urban tolls in LondonStockholm or New Yorkbut none charges as much to own a car as Singapore. The car and social classes. For the richest in the country, purchasing a vehicle with all the associated costs does not represent a problem. Su-Sanne Ching, a businesswoman, said that paid $150,000 by a Mercedes-Benzincluding a COE of $60,000. On the other hand, for the middle class, especially families with children, the car becomes a luxury that is difficult to sustain. Joy Fang and her husband told the Times that they bought a used Hyundai Avante in 2022 for $58,000 to take his two children. Every month they allocate more than 10% of their family budget to maintain the vehicle, which has forced them to reduce outings and trips. Even so, they consider that the alternative (moving with small children and bags on public transport) is unviable. Help for electricians. Regarding “electrification”, the main aid (EEAI) has been reduced by half. Previously up to 15,000 SGD, and now it has a maximum of SGD 7,500. Not only that, apparently, it already has a date of disappearance by 2027. Plus: the VES system too has been adjusted and has progressively reduced incentives. In other words, this year, the nation seems to be in the phase of progressive withdrawal of aid to electric vehicles. Sometimes not even the symbolism. There are more extreme cases. Even for those who purchase a car for symbolic or professional reasons, as Andre Leecumulative expenses can cause the decision loses meaning. Maintenance, gas, parking and insurance end up exceeding initial expectations. Lee, for example, sold his car three years after purchasing it and now commutes by public transportation, or borrows his father’s vehicle when he needs to meet clients. In his opinion, there are other priorities that ended up outweighing the image projected by having your own car. Rational choice versus chaos. Singapore’s restrictive model contrasts with that of other Southeast Asian cities like Jakarta or Bangkokwhere extreme traffic turns travel into an odyssey. For many Singaporeans, giving up the personal car is a reasonable price to enjoy clearer streets and fast journeys. In this regard and according to sociologist Chua Beng Huatthe choice is cultural and practical: the population prefers to avoid long hours behind the wheel. The man himself, despite owning a BYD SUV to transport his grandchildren, says he uses the subway when he goes downtown. Ultimately, the car in Singapore appears to have become an aspirational rather than a functional commodity, one reserved for those who can afford it without compromising their finances. Unlike other parts of the world where the vehicle represents an almost imperative need for mobility or independence, in the island-state it is, for many, a luxury that compares with the most ostentatious objects. Driving there is like having a Rolex, or almost. Image | William Cho In Xataka | Guide to know if your car will be able to circulate in the ZBEs of Madrid in 2025: labels, registrations and areas In Xataka | How to make an appointment at the IMSS online in Mexico A version of this article was published in 2025. We have updated its content with everything that has happened since then.

In London someone has paid 310 million for the most expensive house in history. It is proof that the luxury market has no ceiling

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In the world there are expensive houses (increasingly), very expensive houses and then houses within reach only of the greatest fortunes on the planet, like the one that has just been sold in London for a whopping 270 million poundsabout 310 million euros at the exchange rate. The figure is shocking in itself (it is the same that has been paid in other parts of Europe to build a stadium), but it becomes even more interesting when another detail is known: everything indicates that it is the most expensive home sold to date in an operation of that type, focused on a single residence. To get the keys, its new owner, an influential British businessman, had to beat three royal families from the Middle East. What has happened? that the real estate market premium has just reached one of those milestones that sound almost like science fiction, at least among ordinary mortals. The British press has revealed that a wealthy businessman in the country has closed the purchase of the most expensive home sold to date. And “more expensive” can be understood in a literal sense. Although it is not easy to talk about world records in a sector in which properties do not always go on the market nor are operations advertised, the Bloomberg agency slide which is probably the largest sale in history centered on a property of its type: a single single-family home. It is not crazy if you take into account that the transaction was signed for 270 million pounds, about 310 million euros. Some sources raise the figure to more than 315 million. What is the housing like? The property is called Providence House (formerly Gordon House) and is a huge 19th century mansion located in the Chelsea neighborhood of west London. The plot once housed the residence of the British Prime Minister Robert Walpolebut for years it has belonged to Nick Candya London businessman linked to the brick sector and the Reform UK party. Beyond its privileged location, in the heart of one of the most expensive cities on the planet, the house surprises with its figures: the house stands on a plot of two acres (just over 8,000 m2) with a lake and swimming pool and Georgian style decoration. Media like Financial Times they need which has a private cinema with IMAX screen, greenhouse and the second largest garden from the center of London. It is only surpassed by the one surrounding Buckingham Palace. Who bought it? The buyer is Sunel Setiya, co-founder of Quadrature Capitala trading firm that according to Bloomberg data obtained a profit of 411 million pounds in the financial year ending January 2025. Although with Providence House he has broken all the molds, this is not the first time that Setiya has made headlines for his taste for luxury homes… and his enormous generosity in paying for them. In his day he already paid 110 million pounds for a penthouse in One Hyde Park. And that the property, of around 1,300 m2lacked interior divisions and required works. The Times details which on this occasion has had to pay more than 31 million pounds for property tax alone. The operation certainly marks a before and after in the British real estate market. The most expensive house sold in the United Kingdom before Setiya took out his checkbook was the mansion known as 2-8A Rutland Gate, awarded in 2020 for £210 million to Hui Kan Yan, founder of the Chinese developer Evergrande Group. Click on the image to go to the tweet. And who sold it? Nick Candy, another British tycoon who shares Setiya’s taste for exclusive homes. In fact, he has a penthouse in the same complex that is also for sale for around £175 million. Nick and his brother Christian are known in the sector for the development of the complex One Hyde Parkmade up of 86 apartments and duplexes in the heart of Knightsbridge. Beyond their taste for luxury homes, Setiya and Candy are at opposite poles on an ideological level. The first (Setiya) is a important donor of the Labor Party and dedicates large sums of money through his company to fighting climate change. Nick Candy however is a prominent figure of Reform UK, Nigel Farage’s far-right party. Have there been more interested parties? Ideological differences do not seem to have been an obstacle to closing the operation. In fact, to become the new owner of Providence House Setiya had to prevail over three Middle Eastern royal families also interested in the luxurious London mansion. Given its characteristics (and amounts), the operation was carried out outside the market. The operation represents a lifeline for the luxury residential market in London, which, as remember Five Daysis not going through its best moment. According to LonRes, 2025 was the second time since 2011 that no sales of more than £50 million were closed and in February transactions worth five million (or more) suffered a year-on-year drop of 55%. The puncture coincides with a tax change that directly affects properties. Image | Jaanus Jagomagi (Unsplash) In Xataka | If the question is whether house prices will rise forever, London has the answer. And it is a warning for Madrid

four times more visitors than neighbors and a turn to luxury

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Ibiza is one of the biggest holiday destinations in Spain. Also one of the places that most clearly suffers the effects of mass tourism. That’s nothing new. The overcrowding of the island has generated a billionaire businessbut it has also led the neighbors to go out into the street (same as in other points of the Balearic Islands) to denounce its effects, especially in the real estate market. There is, however, a point in Ibiza where the weight of the tourism and its tendencies are felt in a special way: It’s Canarin Santa Eulària. In a way it acts as a huge tourist ‘laboratory’. One town, two realities. If something characterizes the great destinations (in Spain and any other place in the world) it is that their routine is very different depending on the time of year we are talking about. The high season has little to do with the low season. In It’s Canar That dichotomy is felt in a special way, as just remembered elDiario.es, which has revealed a peculiarity of the neighborhood: its tourist offer quadruples (at least) the number of residents registered. One figure: 7,600. According to the Hotel Federation Fehifin the area there are 7,645 tourist places, four times more than the number of residents registered (1,689). As a reference, the ‘Balearic Sea Report’ estimates that in 2023 they will operate in the entire Balearic Islands. 607,500 places legal tourist activities, while the INE counted in the region just over 1.2 million of residents. Although to the ‘legal’ accommodation offer of the ‘Balearic Sea Report’ we must add the one that operates outside the lawthe regional ‘photo’ is different from that of es Canar. “A ghost town”. This duality between summer and low season is deduced from the statistics, but above all it is felt on the street, as recognize some residents to elDiario.es. “What shocks us the most is winter because Canar becomes a ghost town,” says a neighbor. As temperatures and daylight hours rise, the neighborhood itself is transformed. “It’s a bit overwhelming because… Who isn’t overwhelmed when suddenly there are a lot of people in the area where they live?” he adds. In winter, even the surrounding hospitality offer collapses, which is reduced to its minimum expression. Beaches, market… and relaxation. It is not Canar (far from it) the only area from Ibiza or the Balearic Islands whose routine is marked by the flow of tourists. Its offer, however, has made it a popular destination among those looking for family-friendly tourism. To your beach offer adds its urban center, the port, the beach bars, activities and one of its great attractions: the hippie markets. “The truth is that it is tourism, as far as possible, very familiar. (almost all are British families) and respectful. Since COVID-19 it seems that there is also more national tourism, it is not like in Sant Antoni or Platja d’en Bossa”, comment the same resident. Part of this influx of visitors who choose to stay in es Canar do so in large two- and three-star tourist complexes. Changing the model. If the neighborhood is interesting, beyond its registration data or tourist offer, it is because it also reflects a trend that can be seen in other tourist areas of Spain: the commitment to tourism premiumthe one with the greatest purchasing power. It is something that is detected clearly in Madrid or Barcelona, ​​where have been shot luxury hotels and cruises. In recent years, businesses focused on a clientele looking for a higher category have been opening in the surroundings of es Canar and, if everything goes according to plan, in a short time the neighborhood itself will strengthen its offer in that sector. “Non-shrill luxury”. a few days ago Ibiza Newspaper revealed that work has started to build a new five-star hotel in the area. The idea is to provide it with 116 rooms and for it to open for the 2027 season. Its promoters they are already negotiating to choose an operator, but they advance that, although they want to target a higher segment, they will bet on “non-strident luxury.” “This is not going to be a hotel with rooms at 2,000 euros a night. It is a five-star hotel but not very luxurious. We do not aspire to have a media chef.” Images | Wikipedia 1 and 2 Via | elDiario.es In Xataka | Mallorca has been the dream of thousands of European expats for years. Now it has its own ‘Little Sweden’

The latest whim of millionaires is to build a luxury superyacht around a living tree

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I will not deny that they die on me even plastic plants, but there are people who have a gift with plants. Others, however, are capable of buying a 73-meter superyacht built around a treely keep him alive as he crosses the seven seas with every luxury imaginable. He Virtuosity It is the second ship of the 74 Steel series from the Italian shipyard Sanlorenzo. Its construction and design took more than four years to materialize. For the first 18 months, the owner and the Sanlorenzo team held weekly calls before design even began. It’s not that there was any doubt: it’s that when someone decides that their new ship will revolve around a living tree, details matter and a lot. The tree that wanted to be a sailor The vegetal protagonist of Virtuosity It is a Ficus Nitida, also known as Indian laurel, planted on the main deck of a luxury superyacht with a modern and elegant design. It is worth noting that the tree in question was not added when the yacht was already built, but was selected before the first structural block of the ship was assembled, and the entire yacht was built around it. So that the plant receives sunlight in its lower parts, two side skylights were installed at ground level and its trunk rises across two decks to let its leaves breathe while looking out over the sea from one of its exterior decks. The tree occupies about 16 square meters in the center of the yacht’s main salon. The tree passes through two covers “With this yacht we decided to rethink the onboard architecture from its very foundations,” explained Tommaso Vincenzi, CEO of Sanlorenzo, to Superyatchtimes. “From the integration of living nature to the transformation of technical volumes into experiential environments, each decision is based on a clear architectural vision,” he added. Details that go beyond luxury As if having a five-meter-high tree on the deck might not be enough, the Virtuosity It also hides one more peculiarity below the waterline: an aquarium so big like the sea On the lower decks we find a 35 m2 wellness area. This room is located right on the waterline of the yacht, allowing guests to observe marine life directly from their seats through a large glass surface of the hull. Without a doubt a quite sophisticated way to see fish without even having to get wet. This wellness area also includes a hammam, sauna and massage room. The master suite of Virtuosity It occupies its own deck with 40 m2 and has a bed facing forward with a dressing room and bathroom while on the main deck there is a second VIP suite and two more cabins for guests. At the owner’s request, a reflecting pool was installed in front of that suite, designed so that the water reflects the sky and sunlight, far from the concept of a conventional pool. A cinema lounge aft and a sensory shower forward complete what the manufacturer describes as a private apartment within the ship itself. By day, the stern of the Virtuosity It functions as a relaxation area with direct access to the water and water toys. At night, and also at the express request of the owner, the beach club is transformed into a nightclub with a permanently installed DJ booth. That someone included a fixed nightclub on their list of requirements for a superyacht says a lot about how this owner understands the vacation at sea. This beach club has been redesigned and is 40% larger than that of the first 74 Steel delivered in 2025. In addition, a glass-bottom pool was installed on this deck that acts as a 28-square-meter skylight to illuminate the lower deck. The triple-height main deck features an exposed wine cellar and a spiral staircase in dark lacquered aluminum, as well as an elevator. A helipad and sports deck are located at the bow of the ship. With 73 meters in length and 13.1 meters in beam (width), the Virtuosity It can accommodate up to 12 guests in 6 cabins and a crew of up to 24 people. Its propulsion system is diesel-electric, with six 700 HP Volvo D13-700 engines and 425 ekW alternators, the same technical package as the first 74 Steel, the Silver Fox. With 180,000 liters of fuel on board, it reaches a range of 6,000 nautical miles at 11 knots and a maximum speed of 15 knots. Power and luxury for the only superyacht where you can boast of having taken a nap under the shade of a tree in the middle of the ocean. In Xataka | The Emir of Dubai bought a 500 million superyacht but discovered that it had a serious problem: there was no mobile coverage inside Image | Sanlorenzo

Inflation has made the Lotus cookie the “affordable luxury” of Generation Z

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In the English town of Bridgnorth there is a restaurant that bathes its fried chicken in cream and Lotus biscuit crumbs. And there’s no need to go that far: anyone who stops by this week Champions Burger in Alicante You’ll see how this spicy Belgian snack has become the star ingredient, with dozens of people lining up to devour viral burgers dripping with caramelized cookie cream. A quick look through social media is enough to confirm that this little cookie has jumped from screens to menus around the world. But the question is: how is it possible that a small gift, which in the 90s was nothing more than the free accompaniment they gave you with your coffee at the hairdresser, has become a cult product worldwide? The answer, surprisingly, has less to do with baking and much more to do with macroeconomics. To understand the phenomenon, you have to travel to 1932, to the small Belgian town of Lembeke. As explained The Wall Street Journalthat was where the grandfather of the current CEO of Lotus, Jan Boone, created the recipe (which only five people in the world know today) for his particular version of the speculoosa traditional European dessert. The company’s first big leap occurred in the eighties, when, after a shortage of peanuts, the American airline Delta began to distribute this snack on its flights under the name “Biscoff” (a contraction of biscuit and coffee). This gave a generic item an aura of exoticism and air travel. Today, they manufacture 20 million units a day and invoice more than 1,000 million euros annually, as detailed The Times. But the real catalyst for its current success is its positioning. Lisa Harris, co-founder of food consultancy Harris and Hayes, explains in Guardian that Biscoff’s triumph responds to “accessible indulgence.” In a context where the cost of living is stifling consumers, “people are looking for simple ways to feel like they have done something special,” says Harris. Biscoff offers a nostalgic taste, with individual packaging that gives it a premium feel, but at a price that is affordable to anyone. It is, in essence, a cheap luxury. Doom spending: buy so as not to think This concept fits perfectly with a worrying economic and psychological phenomenon that is defining Generation Z and millennials: he doom spending (or catastrophic expense). This habit is defined as the irrational and impulsive expenses made by young people in the face of the overwhelm they feel for the economy and its future. Instability, inflation and job insecurity have created a feeling that traditional milestones are unattainable goals. When the initial payment of a mortgage requires tens of thousands of euros that you do not have, spending just 3 euros on a package of imported sweets or 6 euros on a slice of viral cake becomes a survival and consolation mechanism. This establishes a mentality of “live in the moment”. Morgan Housel, behavioral finance expert, analyzes it in Fortune explaining that this expense is a natural reaction to not having a clear purpose or being able to reach the great steps of adulthood. Seeing heritage purchases as unattainable, young people find refuge in smaller, more everyday material luxuries. However, the relief is temporary. The magazine verywellmind provides psychological perspective of the matter: when we make these purchases to alleviate anxiety, our brain releases dopamine. But once that momentary pleasure fades, “we are left with overwhelming feelings of guilt, remorse, and an intensified sense of anxiety,” psychologist Christopher Fisher explains in that medium. Added to this is what Ylva Baeckström, a finance expert, defined as a “false illusion of control”. In a world that young people perceive as chaotic – a pessimism fueled by the chronic consumption of bad news on the Internet – shopping becomes the steering wheel of a car that, in reality, they do not drive. A native recipe for social networks The role of social networks in this cocktail is fundamental. Biscoff is a native social media recipe. Content creators like Ashley Markle or Fitwaffle accumulate tens of millions of views cooking with this cream, feeding back the desire for immediate consumption. According to data from Intuit Credit Karma43% of Gen Zers admit that TikTok directly influences their impulsive spending. However, this generation is fully aware of the problem in which is immersed. While 41% of young people from Generation Z admit to practicing doom spending and panic buying, at the same time, a similar percentage (around 44%) are trying to adopt lifestyles low-buy (buy little) or no-buy (not buy anything) to try to build savings and pay off debt. It is a constant struggle between the need to save in a suffocating economy and the uncontrollable impulse to seek small doses of happiness and dopamine through consumption. “We want to conquer the world,” confessed Jan Boone, CEO of Lotus, to The Times last year. Judging by the numbers, the supermarket shelves and the countless videos on social media, he is achieving it. But Biscoff’s global triumph is not just the story of a well-baked sweet or a brilliant marketing strategy born in the airline aisles. It is the edible reflection of our time. The next time you see someone digging a caramelized cookie into a cheesecake in front of their phone camera, remember that you’re not just watching a simple viral recipe. You are witnessing the “lipstick effect” of the digital age; the small, sweet and affordable lifeline of a generation trying to chew the anxiety of an economy that is slipping out of their hands. Image | Andrea Piacquadio and Shameel mukkath Text image | Nano Erdozain Xataka | Traveling with a dog is increasingly common, so the European Commission has decided something: mandatory passport

today it is a luxury hotel

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Not all hotels start from scratch. Some are born on buildings that already had a history long before becoming a tourist destination, and few cases in Spain are as clear as that of Canfranc. This old international station stands in the Aragonese Pyrenees, a large-scale railway project that It ended up closing its doors in 1970. For decades, its imposing silhouette remained abandoned, converted into one of the most recognizable images of the forgotten railway legacy. Today, that same space has changed its function without completely losing what it was. To understand why Canfranc became what it was, you have to look beyond the building and focus on its function. The station was born as a piece key in the railway connection between Spain and France, at a time when this type of infrastructure set the pace of European transport. Its location was not accidental, it was designed to articulate the passage through the Pyrenees and facilitate the international exchange of travelers and goods. Everything about it responded to that logic, from its size to the complexity of its facilities, which placed it among the large railway complexes of its time. From monumental station to five-star hotel The history of Canfranc goes far beyond its function as railway infrastructure. Its position on the border made it an especially sensitive point in one of the most turbulent periods of the 20th century. During World War II, the station was the scene of constant movementssome visible and others much less, linked both to the transit of people seeking to leave Europe and to operations related to the conflict. This context left a mark that is difficult to separate from the building itself, which went from being a symbol of international connection to becoming a place crossed by tensions. That stage ended definitively in 1970, when the station closed its doors and left behind a large-scale infrastructure that was left without a clear function. From there began a long period of abandonment in which the building was exposed to deteriorationwithout activity and without a project that would guarantee its conservation. For decades, Canfranc went from being a transit point to becoming an immobile presence in the landscape, as imposing as it was disconnected from everyday life. Even so, its size, its architecture and everything it represented prevented it from falling into oblivion. Canfranc’s recovery was not immediate or easy. After decades without use, the building required a profound intervention to adapt it to a new purpose. without erasing what made it recognizable. The transformation project opted to convert the old station into a hotelbut with a clear premise, preserving its character and its distinctive elements. The challenge was even greater in the case of a property declared an Asset of Cultural Interest in 2002, which required respecting its architecture and its heritage value while incorporating the necessary infrastructure to give it a second life in the 21st century. That intention of preserving the identity of the building was transferred directly to the interior. The hotel’s design seeks to evoke the 1920s through materials, colors and decorative details, while maintaining constant references to the place’s railway past. Elements like woodbrass or the richest fabrics coexist with an atmosphere that looks back to that era, while old transit spaces have been converted into areas of the hotel, such as the reception. Everything is designed so that history is not just on the walls, but is part of the experience of whoever stays there. Beyond its historical value, the hotel operates today as a high-end accommodation with a fairly complete offering. It has 104 roomsincluding four suites, designed to offer a comfortable stay in a very particular environment, surrounded by the landscape of the Aragonese Pyrenees. Added to this is a wellness area with a heated pool and gym, as well as other services typical of its category. It is not a minor fact: Canfranc Estación is, according to Barceló, the only five-star Grand Luxury hotel in Aragon. An important part of the current proposal involves what happens beyond the rooms. The hotel articulates its offer around three restaurants, with a gastronomic commitment that combines Aragonese tradition and contemporary techniques, and which includes a Michelin star and a sun from the Repsol guide. All of this is framed in a very specific mountain environment, that of the Aragonese Pyrenees, with close access to ski resorts such as Candanchú and Astún, as well as different natural routes. This combination expands the experience and turns the stay into something more than just a night in a unique building. Today Canfranc is not only visited, it is also inhabited in a different way than it was originally conceived. What was once a rapid transit space has become a place to stop, spend time and experience the environment from within. This new function does not eliminate its past, but rather incorporates it as part of the experience, allowing the visitor to understand the place while they visit and use it. A good part of its uniqueness rests on that balance between what was and what is. Images | Barceló Group | SGH | Jon Worth In Xataka | A century ago Denmark built an island to defend its capital. Now it is full of tourists and is sold for ten million

Larry Ellison promised them very happy with his new luxury yacht named after a Japanese goddess. Made a rookie mistake

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In the world of technology, there are more or less discreet billionaires and then there is Larry Ellison. He millionaire founder of Oracle has made ostentation his watchword: has a private island (where he wanted to feed the world with a sophisticated 500 million dollar irrigation system), a long list of properties distributed throughout the United States and other countries such as Japan, an exclusive private jetand is also investing in the search for eternal youth. Of course, he also has boats: he currently owns the Musashi, which is his fourth superyacht. Love for ships and Japan. Ellison’s love for the sea dates back to at least the 90s, at which time he even became a sponsor of the BMW Oracle Racingwinner of the 2003 America’s Cup. His current superyacht is 88 meters long, cost him about 160 million dollars in 2011 and its name is clearly of Japanese origin. In fact, it is a tribute to one of the most famous samurai. Its interior also shows Japanese influences. In addition to the Musashi, in its history of boats with Japanese names there is the Sayonara sailboat, with which won several world championships racing, or the 75-meter superyacht Katana. But his first motor superyacht was the Ronin and it cost him some headaches. Ronin It means lordless samurai, but that was not his original name. It was conceived as Izanami. The impressive Izanami. In the late 90s Ellison set his sights on a superb second-hand superyacht called Izanami. Designed by none other than Norman Foster in the early 90s, built at the German Lurssen shipyard and commissioned by a mysterious Japanese businessman, it stands out for its defined geometric lines and its aluminum hull. It combines modernist architecture with great performance: at 59 meters in length, it was capable of reaching an impressive maximum speed of 34 knots. Inside, five cabins to accommodate up to 10 guests and 14 crew members in total. The mistake that no one saw coming. The name chosen by its original owner, Izanami, comes from Japanese Shinto mythology: the goddess of creation and death, consort of Izanagi. On paper, it fits like a glove: it is cultured, it is evocative… it fits for such a superb yacht. Larry Ellison paid 25 million dollars for it and was preparing to enjoy it when, docked in San Francisco Bay, in Sausalito, his name made a splash. If you read the name “Izanami” backwards you find a tasteless surprise: “I am a Nazi”, especially considering the German manufacturing and Ellison’s Jewish origins. Change of name and owner. The tycoon tells it in his authorized biography “Softwar: An Intimate Portrait of Larry Ellison and Oracle” from 2003: “When local newspapers started pointing out that Izanami was ‘I’m a Nazi’ spelled backwards, I had to choose between explaining Shintoism to reporters at the San Francisco Chronicle or renaming the ship.” He did the latter: Izanami became Ronin. Ellison enjoyed the Ronin until 2013, at which time He sold it to the Venezuelan banker Víctor Vargas and this one would later be sold to the Italian businessman Alessandro Del Bonothe CEO of the pharmaceutical company Mediolanum Farmaceutici. Today is for sale for 28.5 million euros. In Xataka | In 1988, Larry Ellison rented a Concorde and filled it with journalists just to say that Oracle 6 was going at supersonic speed. In Xataka | Larry Ellison has overtaken Mark Zuckerberg as the second richest man in the world. Their secret: building a home for AI Cover | Flickr and Lidija Jakovljevic

build luxury cruise ships. And he’s doing it at full speed

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For decades, Europe has been without a doubt the world reference in the construction of cruise ships with four outstanding shipyards: in Italy, Germany, France and Finland. However, beneath those luxurious interiors hide ambitious works of engineering in the form of small (relatively) cities that navigate the oceans. China was already an authority in the construction of freighters and container ships, but cruise ships resisted it. three years ago timidly entered the sectorbut he is burning stages in record time. The Adora Flora City is almost ready. Last Friday the Love Flora City (in Chinese, Aida Huacheng), left dry dock in Shanghai. In short: only your test trips and final delivery are ahead of you on your roadmap, although tickets can now be reserved for their first cruises at the end of the year from Guangzhou. Everything is going as planned and at printing speed too: it was assembled in just nine months. This impressive luxury cruise ship has been built by Shanghai Waigaoqiao Shipbuilding Co. at the city’s shipyard and with Guangzhou Nansha as its home port. It is 341 meters long and 37.2 meters wide and inside there is capacity for 5,232 passengers, distributed in 2,144 cabins. Your design is inspired on the Silk Road and Lingnan culture, with floral motifs throughout the ship in a nod to Guangzhou. However, Huacheng is “City of Flowers” the nickname of Guangzhou. Why is it important. Because building a cruise ship is one of the most complex projects in naval engineering, which demonstrates its scarcity and the seniority of the classic European shipyards, and China has demonstrated both its technical power and its enormous learning capacity. And in what way: China has stepped on the accelerator on its learning curve. From the first to the second cruise it has shortened construction deadlines and reduced its external dependence, with a near date to be completely independent. Aid from the West has been a double-edged sword (for the West): it has helped create a competitor that, based on precedents in other sectors, can change the naval industry drastically. Context. Adora Cruises was born in 2015 as a joint venture between CSSC and Carnival Corporation, the largest cruise operator in the world. China provided shipyards and the market and Carnival provided its experience and the brand. But the pandemic disrupted plans, the relationship cooled and Carnival ended up withdrawing completely. When it was born, its goal was for the ships to be operated by the Asian division of Aida Cruises, a subsidiary of Carnival (hence its name Aida). At the beginning of this year, Adora integrated with other state operators under the China Cruises brand in a movement in which, although Adora maintains its recognizable name, it seeks to optimize its operational performance and consolidate its presence in the Chinese market. It is already an entirely Chinese project. The first cruise. He Love Magic City (Aida Modu) was the first large cruise ship manufactured entirely in China. Among its specifications, a length of 323 meters, capacity to accommodate up to 5,246 passengers on its 14 decks and 2,125 cabins with a style that combines Western with Chinese. In this case, assembling the helmet cost them a little more: 11 months. detaching from Fincantieri. But while for the Adora Magic City intensive technical support from the Italian shipyard Fincantieri, with the Flora City, Chinese engineering is almost on its own. The construction and coordination of work is now entirely Chinese. Ficantieri and the RINA classification society are still in the project, providing licenses, the design platform and some parts, but they are no longer supervising. What’s coming As reported by XinhuaLast Friday, China Tourism Group and CSSC signed a memorandum of understanding for the construction of a new cruise ship. Shanghai Waigaoqiao Shipbuilding plans to accelerate the construction of a cruise ship assembly base and already has in mind the date to deliver the first independent, that is, 100% Chinese, large cruise ship: in 2030. The idea is to pave the way to enter the mass production phase. In Xataka | We believed that the most incredible thing about megacruises is their size. It turns out that the real miracle is their kitchens In Xataka | From trips for honeymooners and retirees to Gen Z phenomenon: this is how cruises are being saved Images | Adora Cruises

The “bottom of the barrel” was the cheapest waste of the oil industry. The war in Iran has just turned it into an unaffordable luxury

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Historically, the fuel oil has been known in the oil industry as the “bottom of the barrel.” Typically cheap and underappreciated, this byproduct comes from the bottom of distillation towers, the equipment where crude oil is heated and split into multiple products. In fact, very often, this fuel cost less than a barrel of crude oil, and refineries sold it at a loss as it was a simple remnant of the process necessary to manufacture high-value products such as diesel. However, as expert Javier Blas warns in your column for Bloombergthe Iran war has turned the industry upside down. That waste that no one wanted has become an ultra-expensive raw material overnight, which is bad news for the global economy. Despite being overshadowed by other distillates, the fuel oil plays an immense role in the modern world, driving container ships that act as the workhorses of globalization. The breakup of a market at the limit. In the current conflict, all eyes they are set in the rises and falls of crude oil. However, the real drama is hidden in the physical maritime bunker markets, where the traditional relationship between the price of crude oil and refined products has been completely broken. With crude oil hovering around $100, the fuel oil It shouldn’t be much more expensive. In reality, it is trading at $140 a barrel in Singapore and almost $160 in the Emirati port of Fujairah. A report of Lloyd’s List explains that the average price of the fuel oil of very low sulfur content (VLSFO) in the 20 main bunkering centers reached $1,005 per ton, double its pre-war cost and the highest figure since the Russian invasion of Ukraine. For his part, analyst Clyde Russell warns in his column Reuters that, while crude oil futures are confident of a solution, prices for physical cargoes are sending signals of an impending crisis and a supply chain that is buckling under pressure. The missing link. The key to this specific crisis lies in geography and geology. As Blas points outrefineries in Saudi Arabia, Kuwait and the United Arab Emirates produce 20% of all fuel oil sold internationally. Added to this is a crucial geological factor: the crude oil from the Persian Gulf generates much more fuel oil than that of other regions. For example, when distilling a barrel of Saudi flagship crude oil (Arab Light), approximately 50% of what comes out is residue for fuel oil, compared to 33% left by US WTI crude oil. This explains why the blockade of the Strait of Hormuz is a death trap specifically for this byproduct. The logistical panic. The real urgency is no longer just the price, but physical availability. The shipping industry has raised the alarm because supplies are critically low in Singapore and Fujairah, two of the world’s most important bunkering hubs. “If we do nothing, we risk ending up with dry supply points in Asia,” Vincent Clerc sharply warnedCEO of shipping giant Maersk. To avoid collapse, Maersk needs to be proactive and is transporting its own fuel around the globe to have the right amount in the right place, an unprecedented challenge that Clerc compares to the logistical juggle experienced during the Covid-19 pandemic. On a day-to-day basis, the charter market is paralyzed. Scott Bergeron, CEO of Oldendorff Carriers, confess to Lloyd’s List that there are problems getting fuel quotes, and that “availability for April is a big question mark.” The operational consequences will be drastic: Global slowing: Ships will reduce their speed to conserve fuel. Port congestion: Massive congestion is expected in ports that still have reserves. Accelerated scrapping: Older and inefficient fleets could be forced to be scrapped due to the enormous costs. Furthermore, according to Clyde Russell in your column for ReutersAsian refiners are cutting production, and countries like South Korea could restrict exports, pushing dependent nations like New Zealand into rationing measures. The environmental dilemma. This severe lack of supply is even putting pressure on climate regulations. Given the suffocating lack of distillates, The Maritime Executive details that the regulators could be tempted to temporarily suspend IMO 2020 emissions regulations. This would allow ships to return to burning heavy fuel oil (HSFO) widely, freeing up ingredients for other critical sectors. Meanwhile, ships already equipped with scrubbers (scrubbers) can still legally burn the cheaper HSFO. As the price gap between clean and dirty fuel widens, these shipowners are realizing massive savings; In fact, this price spread reached $189.50 per ton in Singapore. The current crisis leaves no room for maneuver. As Javier Blas saysthe world has already spent its main lines of defense against this oil shock: compromised refineries have been avoided and strategic reserves have been emptied. Looking to the future, the only variable capable of balancing consumption with a meager supply is the “destruction of demand” through suffocating prices. Ship fuel may come from the bottom of the barrel, but it has proven to have the ability to sink or keep afloat international commerce. Today, without a doubt, it has become the world’s main problem. Image | Photo by william william on Unsplash Xataka | The US Navy already knows what is going to happen to the planet: the mission to open Hormuz is the closest thing to a suicide operation

Light and gas have become luxury items. Europe’s plan is to intervene in prices no matter what the cost

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Turning on the heating, running a washing machine or keeping a factory blind up has become, overnight, a luxury. Faced with the economic asphyxiation that threatens citizens and companies, the European Union has crossed the Rubicon: the free energy market, as we knew it, cannot sustain this crisis, and Brussels is preparing a drastic intervention to lower the bill at any cost. ORn global market on fire. The epicenter of this new financial earthquake is in the Middle East, as we have been counting these days in Xataka. The price of oil in international markets continues to suffer shocks; as the firm points out Sparta Commodities to EUobserverit is the “largest daily movement since 1988.” Investors assume that the blockage in the region will cause real cuts in the global supply of crude oil, leaving behind the idea of ​​​​a simple logistical delay in ships. Gas has not been left behind. As detailed BloombergEuropean natural gas futures—the Dutch benchmark—soared 30% in a single day, reaching €64/MWh. Europe emerges from the winter with its reserves depleted and is now facing an all-out war with Asia to obtain the scarce shipments of Liquefied Natural Gas (LNG) available for the summer. The daily roller coaster of the bill. To understand why this crisis punishes the consumer so much, we must look at how the price of electricity is formed hour by hour. An analysis of Finance Times shows how prices in Europe now suffer wild volatility. The example of last March 4 is devastating: at the height of the solar peak (2:00 p.m.), a megawatt hour in Denmark cost just 26 euros; Just three hours later, after the sun set and the gas plants came into play, the price catapulted to 430 euros. This “roller coaster”, with jumps of up to 1,700% in one afternoon, has been replicated with the same harshness in the Netherlands, Germany and Belgium. Gas thus imposes a “law of luxury” every time the sun disappears, preventing the industry from planning its production. Intervene “whatever the cost.” With a heavy industry (steel, chemicals, aluminum) on the brink of the abyss – it is worth remembering that, according to a document from the European Commission cited by Euronewsindustrial electricity in the EU was already twice as expensive as in the US and China before this crisis—Europe has decided to act. According to the documents discussed by the European leaders to whom has had access Euronewsthe emergency plan seeks quick relief by putting the scissors directly into the bill in three ways: National tax cuts: Which currently vary enormously and can amount to up to 22% of the electricity bill. Cap on tolls and network charges: Which represent 18% of the bill for large industrial consumers. Review of carbon emission costs: Which add 11% to the cost of electricity generation. The intervention beyond of tax cuts. The Prime Minister of Italy, Giorgia Meloni, has toughened her tone towards companies. In statements cited by Euronewswarned: “We will do everything possible to stop speculation. I am ready to react, if necessary, including by increasing taxes on companies that speculate on prices through energy bills.” Furthermore, the panic button for strategic reserves has been activated. As explained Reutersthe finance ministers of the G7 and the EU are negotiating to release part of the 1.4 billion barrels of strategic reserves that Europe keeps to flood the market and artificially sink prices. The impact of not intervening in time. Bloomberg details the case of Domo Chemicalsa plant in the German industrial city of Leuna, which has had to declare insolvency consumed by energy costs. This erosion of the industrial fabric also coincides with a delicate political moment in Germany, where the conservative party (CDU) of Chancellor Friedrich Merz has just suffered an electoral setback against the Greens in the regional elections in Baden-Wuerttemberg. The Spanish shield. Despite the urgency, the overall European response is being fragmented. EUobserver points out that Ursula von der Leyen has proposed as a patch to expand the Caspian Sea oil and gas corridor. Ironically, the only royal coat of arms right now is Spain. As highlighted by this same medium, the Spanish market has registered the lowest and most stable prices this week thanks to its gigantic previous investment in renewable energies, partly isolating its system from fossil volatility. Finally, the markets have experienced a slight respite thanks to geopolitics. According to the latest update of BloombergEuropean bonds rebounded and gas fell 17% on Tuesday after US President Donald Trump predicted the conflict with Iran would be resolved “very soon.” However, investors assume that if the war drags on, prices will remain high for a long time. Waking up to reality. With 67% of its consumption still tied to imported fossil fuels, the bloc is aware that depending on Middle Eastern trade routes is a huge risk for its economy. Until now, the European Union trusted that the free market would solve consumer problems and guarantee the best prices. This energy crisis has shown that this is not always the case. The authorities now assume that, in extreme situations, intervening in bills, capping profits and emptying state reserves is the only viable solution. Whatever the cost, Europe has decided to take control to ensure that turning on the lights is not a privilege reserved for times of peace. Image | freepik and Haydn on Unsplash Xataka | Neither oil nor gas: if a total war breaks out between the US and Iran, the definitive weapon will be desalination plants

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