Custom yacht builder Oceanco purchased by video game developer Gabe Newell

Oceanco is based in Alblasserdam in The Netherlands and operates from an eco-efficient HQ which has the capacity to work on multiple superyachts of up to 150m (490ft) at the same time. It also has a 28-acre site in Zwijndrecht for construction and refits.

It has been owned by the Barwani family for the past 15 years, and has delivered iconic yachts including Kaos, Bravo Eugenia, Black Pearl and Koru, a three-masted schooner which is the largest sailing yacht in the world.

The company has announced its latest creation, Leviathan, in the last week – formerly known as project Y722, it is a 111m / 364ft diesel-electric yacht in which the crew were invited into the design process to provide operational insights.

Materials and systems were chosen not to reduce effort, but to redirect effort toward higher-value work, not repetitive basic maintenance. Durable, ease of care materials like honed stone and natural wool carpets reduce upkeep, whilst traditional high-maintenance elements like polished handrails with wooden cappings, teak decks and vast painted superstructure sections were intentionally replaced with smart alternatives such as composite capping rails / decks and full height glass superstructure bulkheads.

The Barwani family will remain active in the yachting world through their continued ownership of Turquoise Yachts, the leading Turkish custom yacht builder.

Newell is the co-founder of Valve Corporation, the development company that produces video games such as ‘Half-Life’ and ‘Portal’. It also created the Steam gaming platform.

A statement from Oceanco states that Newell “wants Oceanco to continue on what it already does best: placing people first. This is not about buying a yacht company. It’s about plugging into a team and exploring what kind of future they can create when nothing holds them back”.