A group of Australian businessmen are ignoring the downturn in the boat-building industry and are launching a new 12.5m power catamaran. The group has formed Montebello Yachts, and they have commissioned New Zealand naval architect Roger Hill to provide the design. Hill is a multi-hull specialist with 32 years experience in boat design.

The new Montebello yacht will start at $700,000. It’s designed for offshore fishing expeditions. For more details, read this article in The Australian.