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M/Y Ragnar is 68.2m LOA, 14.0m beam, 4.8m draft, 1,990 GT, originally built 2012 as the ice-class vessel Sanaborg at Myklebust Verft in Norway, converted to a private and charter yacht with delivery in 2020. Twelve guests in six cabins, 17 crew. Ice-class hull, working-vessel pedigree, and a charter rate of approximately €620K/week peak as of May 2026. She is one of three yachts in the charter fleet under 80m that can credibly run an Arctic or Sub-Antarctic itinerary, and she is the cheapest of the three by weekly rate.
The conversion question is the first one any charter client asks. The answer is that she is more pedigreed than her marketing copy suggests, and less of an icebreaker than the label implies. We explain below.
What she actually is
Ragnar is a converted ship, not a built-to-purpose explorer. The distinction matters less to a charter client than to a yacht owner, but it shapes the brief.
The hull is the original Norwegian-built ice-strengthened steel hull. The frames, the plating, the propulsion shafts, and the underwater profile are all working-ship pedigree. The exterior superstructure has been substantially rebuilt to accommodate the yacht interior and the guest decks. The interior is by Bannenberg & Rowell and is the most successful piece of the conversion. It is a working-ship interior in feel: oak, leather, brass, and dark fabric, with a saloon that reads more like an officers' wardroom than a Mediterranean yacht saloon. This is intentional and it lands.
The aft deck has been configured for a 17m chase tender named Loki (also known as the support tender), which is the part of the package. Loki carries the toy fleet, doubles as a fast crew transit on long passages, and adds an effective tender garage equivalent. The combination of mothership and support tender is the right configuration for a yacht of this brief.
She runs Caterpillar 3512C engines, top speed 14 knots, cruise 11. Range is approximately 5,000 nautical miles at 11 knots. The hull is rated for ice operation under.
Ice class and what it actually means
Ice-class ratings come in tiers. The highest civilian tiers (DNV Polar Class 5 or 6) authorize independent year-round operation in light to medium first-year ice. The mid-tier ratings allow operation in first-year ice with caution. The lower tiers (1A, 1B, ICE-C) authorize seasonal operation in Baltic-style ice. Ragnar's rating sits in the mid-tier band and authorizes a credible Arctic and Sub-Antarctic season but does not authorize independent operation in heavy multi-year ice. For a charter client, the practical effect is that she can run a Spitsbergen, Greenland, or Antarctica-Peninsula week, but she cannot run a Northwest Passage transit on her own.
If the charter brief requires deep ice work, the right yacht is a converted icebreaker with a higher rating, or a yacht such as Ulysses (which is not on charter) built to a polar brief from delivery. Ragnar sits in the band of yachts that handle the popular polar charter itineraries comfortably and leave the deep-ice work to research vessels.
Charter rate and what the rate buys
| Item | Value |
|---|---|
| Low season weekly | from €495K |
| Shoulder weekly | from €560K |
| Peak weekly | from €620K |
| APA | 30 to 35% standard (higher for polar itineraries) |
| VAT | Per territory, 0 to 22% |
| Crew gratuity convention | 10 to 15% |
| Currency | EUR or USD depending on operating ground |
| Charter contract | MYBA |
She is the cheapest credible polar-capable yacht in the charter fleet. The yachts she competes with directly (Legend at 77m and Cloudbreak at 73m) charter at roughly €750K to €1.1M/week peak. The €130K to €450K/week saving on Ragnar is real and is the strongest argument for booking her over the alternatives.
The APA convention runs higher than a Mediterranean yacht of equivalent size, and 35% is normal on a polar itinerary. Fuel burn at low speed is reasonable. Provisioning into Spitsbergen, Iceland, or Greenland is expensive and limited. The 35% APA is not a markup. It is the actual operating cost in a remote cruising ground.
What we would push on
Three items.
First, ask the central agent for the most recent ice-class survey and the date of the next survey. Ice-class certification requires periodic survey by the class society, and the survey window matters if your itinerary is in late season. We would not charter her for a September or October Spitsbergen week without sight of a current ice-class certificate.
Second, ask for the captain's polar log. Most ice-class yachts have a captain whose tenure includes substantial high-latitude time. Ragnar's captain should be able to produce a log of polar operations from the past two seasons. If the log does not exist, the conversation should pivot to a captain who has it.
Third, push back on the toy fleet for the destination. A polar yacht in a polar week needs different toys than a Mediterranean yacht in a Mediterranean week. Heated zodiac inflatables, ice-rated kayaks, dive equipment with dry suits, and shore-landing gear should be in the inventory. Jet skis and Seabobs are not the priority. The standard inventory list is typically biased toward warm-water use. Get the destination-appropriate inventory written.
Captain and crew
Crew is 17. The captain has run the yacht through most of her charter history. The chief engineer is the second most important crew position on a polar-capable yacht and should be diligenced separately. The chef and chief stew positions are typically charter-fleet-rotating but should be checked for polar-experience preference if the itinerary is high-latitude.
Crew style on Ragnar is reported by repeat charter clients to be Norwegian-practical rather than Mediterranean-formal. This matches the yacht. The service ethic is competent and warm without being theatrical.
What she is good for
Three itineraries, in order.
A Norwegian fjord and Svalbard summer week, typically embarking Tromsø or Longyearbyen, running 7 to 10 days, with shore landings, kayaking, and the white-on-white visual brief that the destination delivers. Ragnar is the right tool. The price band is appropriate.
An Iceland and East Greenland season, typically running June through August, with the same shore-landing program plus glacier and iceberg work. Same logic.
A Sub-Antarctic and Antarctic-Peninsula season, November through March, departing Ushuaia or Punta Arenas. This is the harder itinerary and requires planning at least 12 months ahead. Ragnar runs it credibly.
She is also defensible as a Mediterranean shoulder-season charter for clients who prefer the working-ship interior and the lower rate over the marquee Mediterranean yacht interiors. But the Mediterranean is not the brief, and clients who want a Mediterranean week have better options.
What she is not good for
A pure Mediterranean peak-season week for a charter client whose priority is the marquee anchorage feel. Ragnar is a working-ship yacht and her aesthetic does not fit the Saint-Tropez and Capri week the way a Benetti or a Lürssen does. There is nothing wrong with her in that brief. She is just not optimised for it.
Charter clients who require an indoor beach club, an interior spa, or a high-volume sundeck dining area should look elsewhere. Ragnar's volumes are organised for the working-ship brief. The beach club is functional, not theatrical. The sundeck is configured for cold-weather operation as well as warm.
Very young children and elderly guests with mobility limitations are not the right charter party for a polar week on Ragnar. The shore-landing programs involve zodiac transfers and modest scrambles. The polar brief is for guests who want to do polar things.
Comparable yachts in the band
In the 60 to 80m, ice-class or expedition-capable, charter fleet, the comparables are:
- Legend, 77m, ice-class, larger toy fleet, higher rate
- Cloudbreak, 73m Abeking, polar-capable, higher rate
- Planet Nine, 73m Admiral, helicopter-equipped explorer
- Yersin, 77m Piriou, Green Marine certified, more research-vessel feel
Of those, the most-direct competitor on rate is Planet Nine. Legend and Cloudbreak compete on capability rather than on rate. The right inquiry for a polar week depends on whether the priority is the price (book Ragnar), the capability (book Cloudbreak), or the helicopter operation (book Planet Nine).
Verdict
The cheapest credible polar charter in the global fleet. The working-ship interior is well done. The captain and the chief engineer are the crew positions that matter for this brief and both should be diligenced before signing. The toy fleet should be destination-matched. We would push 35% APA only on confirmed polar itineraries and 30% on Mediterranean shoulder weeks.
If the brief is a Spitsbergen or Greenland week and the budget is below the Cloudbreak and Legend rate band, this is the answer. If the brief is a Saint-Tropez or Capri week, this is not the answer.
FAQ
What was Ragnar before the conversion? The Norwegian ice-class vessel Sanaborg, built 2012 at Myklebust Verft. The conversion to a yacht was completed.
Can Ragnar do the Northwest Passage? No. Her ice class authorizes first-year ice operation with caution. The Northwest Passage requires a higher class rating and typically a research-vessel or working-icebreaker hull. The Northwest Passage charter market is effectively the converted-research-ship market, not the converted-icebreaker yacht market.
Does Ragnar charter in the Caribbean? Yes, in some seasons. The Caribbean season is the off-season for her brief, and her rate drops accordingly. She is competent in the Caribbean but it is not where she shines.
Where does Ragnar typically embark for Arctic weeks? Tromsø, Longyearbyen (Svalbard), Reykjavik, or. The captain will adjust the embarkation port to suit the itinerary and the season.
Is the support tender Loki included in the charter? Yes. Loki is part of the operating package. The two-vessel mother-and-support configuration is part of what makes Ragnar credible for the polar brief.
What flag does Ragnar fly?. Charter-fleet yachts of this size typically fly Cayman Islands, Isle of Man, or Malta.