Superyacht Worth $70 Million Docks in Lyttelton Harbour

A $70 million superyacht, the Pangaea Ocean Explorer, owned by Australian billionaire Andrew “Twiggy” Forrest, has docked in Lyttelton Harbour. The vessel arrived on December 19, 2023, from Nelson, but the specific reason for its visit remains undisclosed.

The 58-metre yacht is notable not only for its luxurious features but also for its role as a research vessel under the auspices of the Minderoo Foundation. Founded by Forrest and his former wife, Nicola, the organization focuses on philanthropy, with a particular emphasis on environmental initiatives. The Pangaea Ocean Explorer is integral to the foundation’s ambitious $100 million “Flourishing Oceans” initiative, which aims to study and protect marine life globally.

Forrest, who holds a PhD in Marine Science from the University of Western Australia, has invested significantly in marine research. The yacht is equipped with laboratories and advanced research technology to monitor global fishing patterns and assess ocean plastic pollution. It has also served as a luxury vessel, featuring amenities such as a large waterslide, previously seen during a family trip in 2019.

With an estimated value of $40 million according to Superyacht Fan, the yacht can accommodate up to 12 guests and 13 crew members. Its annual operating costs are projected at approximately $4 million.

Forrest’s business interests extend into New Zealand, where his company, Fortescue Future Industries, has made investments in local startups, including Fabrum, a Christchurch-based hydrogen technology firm. The company also competed for the Southern Green Hydrogen project in Southland.

Philanthropy remains a significant focus for Forrest, who has donated over $2 billion through the Minderoo Foundation to various causes, including cancer research and environmental sustainability. Although he and Nicola Forrest separated in 2023, they continue to collaborate on philanthropic efforts.

The Pangaea Ocean Explorer is currently moored in Lyttelton Harbour, drawing interest for both its luxurious origins and its commitment to scientific research.