| ADMIRAL | 50M | 'PANORAMA 05' | 2027? |

The 5th Panorama series model has been sold to a client. This one makes it the 4th 50-meter hull in the works. The other is a slightly larger 53.5-meter Panorama model which had its keel laid recently. The first 50-meter unit is presently under construction and will be completed in 2025.