Billionaire Andrew Forrest’s $70 Million Superyacht Docks in Lyttelton

A superyacht valued at approximately $70 million, owned by Australian billionaire Andrew “Twiggy” Forrest, has recently docked in Lyttelton Harbour. The Pangaea Ocean Explorer arrived on December 19, 2023, after a prior stop in Nelson. The purpose of its visit to Lyttelton remains unclear.

The 58-metre vessel, which Forrest converted into a research platform for the Minderoo Foundation, is designed for both exploration and philanthropy. Established by Forrest and his former wife, Nicola Forrest, the foundation focuses on various initiatives, including the $100 million “Flourishing Oceans” program aimed at studying and protecting global marine ecosystems.

Forrest, who founded the Fortescue Metals Group, is among Australia’s wealthiest individuals, boasting an estimated net worth of $26 billion. He holds a PhD in Marine Science from the University of Western Australia, awarded in 2019. The vessel is equipped with advanced laboratories and research equipment to track fishing patterns and analyze ocean plastic pollution.

While serving as a research vessel, the Pangaea Ocean Explorer has also been a luxury holiday yacht, featuring amenities such as a giant waterslide, which was visible during a family outing in 2019. The yacht can accommodate up to 12 guests and 13 crew members, with annual running costs estimated at $4 million.

Forrest’s business interests extend into New Zealand, where Fortescue Future Industries has invested in the Christchurch-based hydrogen technology startup Fabrum. The company was also a contender for the Southern Green Hydrogen project in Southland.

Through the Minderoo Foundation, Forrest has donated over $2 billion to various causes, including cancer research and environmental projects. Despite their separation in 2023, he and Nicola Forrest continue to collaborate on philanthropic efforts.

Currently, the Pangaea Ocean Explorer remains moored in Lyttelton Harbour, attracting attention for both its luxurious features and its significant role in marine research.