General News
19 September, 2025
Wealthy tycoon docks at city’s marina
ONE of the largest superyachts to dock in the region has made a striking arrival in Cairns.
The 125m-long ‘LIVA O’, (pictured) understood to be owned by German-born billionaire Stephen Orenstein, who now resides in Dubai, is turning heads at the Cairns Marina and captivating locals and maritime enthusiasts alike.
Mr Orenstein, best known for leading logistics and defence support firm Supreme Group, is estimated to have a net worth of around US$2billion.
The yacht was built in 2023 by German shipyard Abeking & Rasmussen. Measuring 118.2 m in length and approximately 5054 gross tonnes, the vessel features luxury interiors designed by Joseph Dirand Architecture.
The superyacht is reported to have cost US$250 million and carries annual running expenses of about US$25 million.
The vessel is one of two massive superyachts visiting the region this month, both exceeding 100m in length.
According to Ports North operations general manager Ash Sinha, yachts of this scale are a rare sight in Cairns.
“These are probably two of the biggest superyachts we’ve had here in a long time,” he said.
“It’s really great for the region. One’s around 125m and the other about 118m. It’s quite rare to get superyachts of this size here.”
Beyond their impressive scale, these vessels bring substantial economic benefits. With crews of 20 to 30 people maintaining and operating the yachts, Cairns enjoys a boost from local spending.
At the same time, the presence of international visitors highlights the city as an emerging hotspot in the global superyacht circuit.
Mr Sinha said that owners of such vessels tended to stay longer than usual, sometimes for up to two months.
“It’s rare to get these owners happy to stay here with their crew,” he said.
“They’re out and about every day, doing maintenance and enjoying the area. It’s great for the economy.”
