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The company did not name the yacht or the individual concerned but said Turkish authorities are responsible for granting permission for ships to enter port, adding that "GPH must comply with such a decision as long as the decision is legal under the applicable laws".

The Gramercy Park Hotel in New York recently introduced Lorenzo Martone-designed bikes that are all white with bright red chains and “GPH” license plates.

The sales proceeds will also allow Generali to buy out of Eastern European insurance joint venture GPH, for which it needs more than one billion euros.

Generali exited some activities in Russia, Ukraine, Belarus and Kazakhstan as part of the GPH deal.

Loaded with tackle, bait, gear, food and drinks, as well as 200 gallons of fuel and 32 gallons of water, the boat cruised easily at 4500 rpm while making 32 mph and burning 20.2 gph.