e vai yacht

NEW MYLIUS 76′ FD SAILING YACHT “E VAI” LAUNCHED

One among the leading Italian brands in the production of big sailing yachts for about 15 years, Mylius Yachts is true to the guidelines adopted by its founders since 2003: top quality construction technology and hi-tech materials ; the concept of performing but never extreme boat; the identification of the target in a passionate owner with little spare time and the consequent need for a “ tailor-made” boat able to meet his needs .

“ E vai ” – that’s the name of the new boat – is part of the Mylius 76′ line which even includes a Deck Saloon version. However, in line with the idea to take shape around the end user’s needs, this boat has very special features. Even though hull waterlines are the same than in the previous model, with thin bow sections and a rather flat development of the hull , the decision to make this 76-footer more performing convinced Mylius engineers to prefer a single deep responsive rudder blade instead of the double one of the previous model. The rudder shaft is made of laminated carbon while the blade consists of carbon fiber sandwich panels .

The section of the deck positioned before the mast completes a simple unencumbered and extraordinary elegant layout , where walkable surfaces are covered with top quality teak. Extremely unencumbered, bow spaces (including the passages to the stern) are perceptually huge and looks like a boundless expanse of teck interrupted only by some dark hatches which let both air and light enter the bow sections.

The owner of “ E Vai” has deeply changed the original interior layout of the yacht. The aft section, for example, houses a double cabin, a retractable bed ad a bathroom on the starboard side. The cabin can accommodate crew members or, if necessary, guests. The galley is on the left side . The large centrally-located dinette , furnished with two large L-shaped counter-posed sofas, immediately precedes the symmetric guest cabins. Both equipped with en-suite bathrooms, they offer the original solution of two twin beds which can move laterally and be converted into a large double bed. Equally original is the owner’s cabin in the bow , with two double beds and a full-beam bathroom. The rear garage is centrally positioned and can accommodate an almost 4-metre-long tender .

Like the other Mylius yachts, this model, too, has a carbon fiber sandwich hull with an expanded PVC differentiated-density core . Lamination is solid only in some areas  subject to a greater load. In any case, epoxy matrix is vacuum infused and then treated at higher temperatures. The in-house production of the boat , its interiors and systems, ensure to E Vai the maximum usability and top efficiency in every detail .

The carbon mast  is a Hall Spars  one while sails were provided by the Italian company Millenium and include an overall surface of 311 square metres for the mainsail and the jib and 667 square metres for the racing set . Deck equipment was provided by Harken and   Ubi Maior and includes Harken Racing electric winches. The boat is powered by a Yanmar 220hp inboard engine, supported by a Maxpower VIP 250 propeller. The fuel and fresh tanks, with a capacity of 1,000 and 1,200 liter respectively, along with the installation of an air-conditioner system, a water maker and an auxiliary 13 Kw generator suggest the ocean vocation of this new Mylius 76′.

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YACHT E VAI | MYLIUS 76 (2017)

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YACHT E VAI DESCRIPTION

Sailing Yacht E VAI is a 76 model built in 2017 by italian ship builder MYLIUS YACHTS. She has a length of 82,8 feet, (25,3 meters) for a beam of 19,4 feet, (5,9 meters) and a draft of 13,9 feet, (4,3 meters). She can welcome up to six guests and employed up to tree crew. S/Y E VAI is powered by engines developing up to horse power .

ABOUT S/Y E VAI INSURANCE

No insurance issues to report regarding the S/Y E VAI. Only building year,use and zones of operation may affect the underwriting.

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A boat equipped with two Volvo IPS D11 series engines as standard DPS 950 developing 725 horsepower each, giving it a top speed of 28 knots and a cruising speed of around 18 knots.

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• Member since Nov 2013
• Free Territory of Trieste in Italy
• Latest Event ●●●●●● All Events
• AIS Name E VAI
• IMO —
• MMSI 247036750
• Callsign IM8520
• Year Built 2017
• Length 25 m
• Draught — / — / — Avg/Min/Max
• Speed 7.3 kn / 11.1 kn Avg/Max
• Deadweight ●●●●●●
• Gross Tonnage ●●●●●●
• AIS Class —

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Current location, position received, navigation status, eta sent by vessel ais, eta calculated by fleetmon, vessel and fleetmon eta difference, actual time of arrival, 3 photos for sailing ship e vai.

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Principessa Vaivia

Principessa Vaivia is a custom sailing yacht launched in 1991 by Perini Navi.

Credited with a combination of technical brilliance and first class design, Perini Navi has always been in a class of its own. In 1982, unable to find a yacht suited to his personal concepts and ideas, Fabio Perini designed and built the first prototype of what would prove to be the most successful series of large sailing yachts in the world.

Principessa Vaivia measures 40.40 metres in length, with a max draft of 6.37 metres and a beam of 8.00 metres. She has a gross tonnage of 242 tonnes.

Principessa Vaivia has a steel hull with an aluminium superstructure.

Her interior design is by Perini Navi.

Principessa Vaivia also features naval architecture by Perini Navi.

Performance and Capabilities

Principessa Vaivia has a top speed of 12.6 knots. She is powered by a twin screw propulsion system.

Principessa Vaivia has a fuel capacity of 26,300 litres.

She also has a range of 3,900 nautical miles.

Accommodation

Principessa Vaivia accommodates up to 10 guests . She also houses room for up to 6 crew members.

Other Specifications

Principessa Vaivia has a hull NB of 8807.

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Yacht Specs

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SY Principessa Vaivia

Sailing Yacht

Principessa Vaivia

Yacht Club Monaco

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Minimalism doesn’t exist

It takes 30 seconds to turn sleek and straight lines into a high-tech nautical marvel. In other words, just a tap and you have your private island.

• 38 kn / 44 Mph maximum speed
• 43 ft total length
• 740 / 870 hp propulsion
• +40% extensible surface
• 12 guests aboard
• 180 L ice box

Take a bow, and make it unique

The bow is designed to keep the lines as clean as possible, with a large locker that can accommodate the anchor and fenders under the deck.

The hydraulic opening of the anchor locker ensures maximum noise reduction while the lifting nose prevents the anchor from wounding in or out.

Anchor and roller: stainless steel

Winch power: 1500w

Anchor chain: 75 m

Set the course and run

A smooth teak panel features the helm station, which is designed to create a fast and responsive steering experience in a pleasant setting with a large windscreen and an ultra-comfortable seat.

Set the navigation systems, take the wheel, check your course and get ready for an exciting ride.

Beauty is for sharing

The R4 welcomes spending different moments of the day aboard. The solid teak cockpit offers different configurations to adapt to your unique lifestyle.

With cooking lovers

The cockpit can accommodate a kitchen with sink and induction hobs, barbecue or Teppanyaki plate, an electrical and retractile table, sofas, poufs.

With sunbathing fans

The aft sundeck can accommodate up to 8 floating cushions and retractile deckchairs with cushions. You can add some shade with a T-Top or different awnings.

With party-animals

A 180L ice box, leather sofas and a high-end S Fusion audio system with 4 loudspeakers and sub-woofer create the perfect setting for a glamorous party on the sea.

With lazy friends

The beach area can be equipped with a large sunbed for those who love indulging in the sun.

Large Larger Even Larger

A simple touch and 30 seconds are what it takes to open the hydraulic XTensions bulwarks and turn the beach area into a 270 square feet terrace. Be it a lounge, a sundeck, an open space for parties, you won’t get unnoticed.

The sundeck can accommodate a Transformer platform which rotates by 270° to support boarding and disembarking, diving, or staying even closer to the water.

Now, slide the door

A contemporary steel and Plexiglass companionway leads to the large lower deck, where luxury and comfort define the perfect night above the sea.

A choice of high-quality details such as leather interiors, ceramic and wood create a homely yet functional space. Guests can enjoy their meal in the large V-shaped dinette with 46’’ hidden LED mirror TV, to then transform it into an extra double bed, in addition to the queen-size bed cabin with locker area and private bathroom.

The lower deck definitely deserves a closer look

Designed for safety, made for enjoyment it works

The R4 features state-of-the-art technology and different levels of control ranging from manual to touchscreen.

Tap, hold, release

The EVO app controls every system on the yacht, operating hidden features, navigation systems and domotics. A special safety system immediately blocks the command as you release your finger from the screen.

Volvo Penta engines for performances with high fuel efficiency

The R4 can be equipped with two different, powerful engines: a Volvo Penta IPS 600 435 HP or a Volvo Penta IPS 500 370 HP.

The deadrise 18° angle of the hull ensures a high fuel efficiency with an autonomy of 300 nautical miles.

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Volvo 60 – Libertalia

This racing sailboat is a high- performance, extreme racing boat, offering superb performance in a very strong and durable hull.  Libertalia is a large 65-foot monohull built for the open sea,  incorporating excellent build quality.

This VO 60 was designed and built to race the Volvo Ocean Race 2001-02, the crewed round-the-world race. Hired under the name of Djuice Dragons, he was skippered by Knut Frostad, with Thomas Coville and Jean-Yves Bernot as Navigator as Shift Manager.

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How much should i tip the boat captain/crew.

The crew will work hard to ensure that you have a safe and enjoyable time on board. If you have enjoyed your charter we would suggest a 10% is customary.

How do I confirm a yacht charter?

To confirm a charter we will send you a charter agreement for signature and invoice for a deposit. The owner will counter-sign the charter agreement and then your charter will be confirmed

What else will I need to pay for?

In addition to the charter fee you will pay an Advanced Charter Allowance (ACA) from which the cost for all food and drink for the duration of the charter, fuel, marina and any other additional expenses will be deducted.

What happens once I have booked?

Once you have booked a cruising charter we will be in touch to gather your charter preferences including dietary preferences, meal times and itinerary. We will liaise with the chef to arrange a proposed menu for the charter and put you in touch with the crew via Whatsapp chat.

What are high and low season dates for Caribbean cruising charters

High Season includes the Christmas and New Year period (approx 28th December – 7th January) and 2 weeks around Easter

Can I charter a yacht for a corporate event?

Yes, we offer corporate yacht charters that are perfect for team-building exercises and other corporate functions.

What insurance will I need?

The yacht is fully insured but you will need your own personal insurance that covers yacht racing

Do I need an owners rep/boat captain and what role will they have?

Most of our yachts have to come with a boat captain / owner’s representative; this person isn’t there to be the skipper and they can fit into your team wherever you need. There knowledge of the boat can help you get the best performance from the boat and minimise avoidable damage.

Eating out as a crew?

If you decide to venture out as a group and wish to include the permanent crew, please remember that what is your holiday is their job. If you would like to show your appreciation for all their hard work in making your holiday a success by asking them to join you for a night out, then please be kind enough to pay for their expenses.

What is racing yacht charter?

Racing yacht charter is a unique opportunity that allows you to charter a race prepared yacht with your team and participate in regattas around the world. We can cater for race charter opportunites from a group of friends wanting a fun regatta in the sun to a professional team looking for silverwear.

Do I need sailing experience to participate in a racing yacht charter?

Sailing experience requirements varies according to yacht and regatta of choice. Some yachts like a Volvo 65 require more sailing experience than joining the team on a 40′ racer cruiser. When arranging your charter with you we discuss any pre-requisite experience with you.

What is the duration of a racing yacht charter?

For most racing charters your schedule will include 2 training days prior to the event start date, for offshore races a third day for boat preparation will also be included.

What additional costs should I expect?

In addition to the charter fee you may pay a security deposit and an Advanced Charter Allowance (ACA) to cover charter related costs including race entry, berthing and other charter related costs.

Can you arrange accommodation?

Yes, we offer a regatta concierge service which means that in addition to arranging your race entry and berthing we can also recommend and book accommodation ashore, flights, transfers and restaurant bookings as well as much more.* * 10% service charge applies for regatta concierge services

Once you have booked a charter we will be in touch to gather crew information in order to handle the race entry on your behalf. As the regatta date approaches we will connect you with the Boat Captain via Whatsapp chat and provide useful information on both the event and on the location. We are available at any time via phone or email to answer any other questions or queries you may have.

What is the security deposit for?

The security deposit is to cover damage to the yacht, that is more than just general wear and tear that would be expected when racing. In the worst case scenario it will cover the excess should there be the need for a claim on the yacht’s insurance. However, it is also there to cover less serious damage that does not warrant an insurance claim like damages to sails. If there is no damage then we will refund the security deposit in the week following the charter. If there are any damages the value of these damages will be assessed and the balance of the security deposit refunded after these costs have been deducted.

Get In Touch

Call: +44 (0) 20 3920 6261 Email: [email protected]

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328' Alarnia 2023

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Principessa Vaivia

• Amenities & Toys

PRINCIPESSA VAIVIA yacht NOT for charter*

40m  /  131'3 | perini navi | 1991 / 2011.

Owner & Guests

• Previous Yacht

Special Features:

• Impressive 4,491nm range
• RINA (Registro Italiano Navale) 100 - A - 1.1 classification
• Interior design from Perini Navi
• Sleeps 8 overnight
• 5.49m/18' Tender

The 40m/131'3" sail yacht 'Principessa Vaivia' (ex. Marisa) was built by Perini Navi in Italy at their Viareggio shipyard. Her interior is styled by Italian designer design house Perini Navi and she was delivered to her owner in July 1991. This luxury vessel's exterior design is the work of Perini Navi and she was last refitted in 2011.

Guest Accommodation

Principessa Vaivia has been designed to comfortably accommodate up to 8 guests in 4 suites. She is also capable of carrying up to 8 crew onboard to ensure a relaxed luxury yacht experience.

Range & Performance

Principessa Vaivia is built with a steel hull and aluminium superstructure, with teak decks. Powered by twin diesel Caterpillar (3406TA) 407hp engines, she comfortably cruises at 10 knots, reaches a maximum speed of 12 knots with a range of up to 4,491 nautical miles from her 26,300 litre fuel tanks at 12 knots. Her water tanks store around 9,500 Litres of fresh water. She was built to RINA (Registro Italiano Navale) 100 - A - 1.1 classification society rules.

*Charter Principessa Vaivia Sail Yacht

Sail yacht Principessa Vaivia is currently not believed to be available for private Charter. To view similar yachts for charter , or contact your Yacht Charter Broker for information about renting a luxury charter yacht.

Principessa Vaivia Yacht Owner, Captain or marketing company

'Yacht Charter Fleet' is a free information service, if your yacht is available for charter please contact us with details and photos and we will update our records.

Principessa Vaivia Photos

NOTE to U.S. Customs & Border Protection

Specification

S/Y Principessa Vaivia

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PRINCIPESSA VAIVIA

PRINCIPESSA VAIVIA is a 40.42 m Sail Yacht, built in Italy by Perini Navi and delivered in 1991. She is one of 2 40M models.

Her top speed is 13.0 kn and she boasts a maximum range of 3000.0 nm when navigating at cruising speed, with power coming from two Caterpillar diesel engines. She can accommodate up to 10 guests in 4 staterooms, with 6 crew members waiting on their every need. She has a gross tonnage of 213.0 GT and a 8.0 m beam.

She was designed by Perini Navi , who also completed the naval architecture and designed the interior. Perini Navi has designed 46 yachts, created the naval architecture for 41 yachts, and designed the interior of 49 yachts for yachts above 24 metres.

PRINCIPESSA VAIVIA is in the top 30% by LOA in the world. She is one of 136 sailing yachts in the 40-45m size range, and, compared to similarly sized sailing yachts, her cruising speed is 1.47 kn above the average, and her top speed 0.61 kn above the average.

PRINCIPESSA VAIVIA is currently sailing under the Monaco flag (along with a total of other 27 yachts). She is currently located at the superyacht marina Port Hercule de Monaco, in Monaco, where she has been located for 5 months. For more information regarding PRINCIPESSA VAIVIA's movements, find out more about BOAT Pro AIS .

Specifications

• Name: PRINCIPESSA VAIVIA
• Previous Names: MARISA
• Yacht Type: Sail Yacht
• Yacht Subtype: Motorsailer
• Builder: Perini Navi
• Naval Architect: Perini Navi
• Exterior Designer: Perini Navi
• Interior Designer: Perini Navi
• Refits: 2021-10-01,2020-07-27,2020-12-14,2021-07-07

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Written by Zuzana Bednarova

The Ferretti Group, one of the world top companies specializing in the design, building and sale of motor yachts, with an amazing portfolio of eight of the most exclusive and prominent brands, is thrilled to announce its participation in the Moscow Boat Show 2013. From 12 to 17 March, two of the Group fleet’s most successful yachts will be presented as absolute premieres for the Russian market: motor yacht Ferretti 530, representing Ferretti Yachts , and the 27-foot Iseo superyacht tender by Riva .

Ferretti 530 Yacht to make her Russian premiere at Moscow Boat Show

This year’s Moscow Boat Show will also offer the Ferretti Group the opportunity to announce all yachting enthusiasts in Russia and Northern Eurasia a new important achievement in its international growth: the renewal of its exclusive dealership agreement for the Russian Federation with its partner Premium Yachts , one of the leading dealers operating in the boating sector in Russia , which will represent the Ferretti Yachts , Pershing , Itama , Bertram , Riva e Mochi Craft and Ferretti Custom Line brands.

The agreement – which was officially announced today during a press conference attended, among others, by Ferruccio Rossi (Ferretti Group’s CEO), Alexey Kurochkin (Premium Yachts’s President), and Stefano Campanelli (Sales Manager for the EMEA area for Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft and Ferretti Custom Line) – is part of Ferretti Group’s strategy for a further expansion on the European markets offering the best short/medium-term growth perspectives, also thanks to the financial soundness regained following the strategic partnership forged with the Weichai Group.

More specifically, the Russian boating market holds a great potential for the Ferretti Group’s development because of the rapid growth of average wealth among the population and an increasing interest for Made in Italy luxury goods, like Ferretti Group yachts.

Through the renewal of the agreement with Premium Yachts, the Group will further strengthen its highly selected distribution network – which currently includes approximately 60 dealers ensuring the best possible customer care in more than 80 countries worldwide – as well as its presence in the traditional EMEA ( Europe , Middle East , Africa ) area, one of the three macro-regions (besides the America and the Asia-Pacific) into which the Group’s sales structure is divided.

Moreover, in a medium/long-term perspective, the Ferretti Group is expecting an increasing interest on the Russian market not only for flying bridge yachts above 70’ in length, but also towards smaller crafts, both flybridge and open/coupé ones, which are particularly suitable for river cruising or pleasure boating in Russia’s large lakes. Consequently, the renewal of the dealership agreement with Premium Yachts also allows to look ahead at the future aiming to conquer new market segments where less competitors are currently present in terms of both products and geographic location.

The press conference, which was held today at the Lotte Hotel in Moscow, had also the objective of introducing attending journalists and yachting enthusiasts to the main new products launched by the Ferretti Group over the last few months, namely: motor yacht Ferretti 870 , Ferretti 690 yacht , and the project of the new flagship Ferretti 960 superyacht for the Ferretti Yachts brand; luxury yacht Pershing 82 ’ and superyacht Pershing 108’ New Edition for Pershing; Riva 63’ Virtus and the project of the new Riva flagship, 122’ Mythos yacht , as well as the entire range of the Itama, Bertram and Mochi Craft brands.

The yachts launched over the last few months by CRN – the Group’s brand specialising in the construction of steel and aluminium yachts between 40 and 90 metres – were also presented during the conference: the two superyachts: CRN superyacht Jade (60 metres long) and CRN mega yacht Chopi Chopi (80 metres long), the latter being one of the largest pleasure vessels ever built in Italy and the largest one ever built by the Ancona-based shipyard.

“The renewal of our dealership agreement with an important partner like Premium Yachts – which has worked on the Russian market for almost 10 years and can boast an outstanding product knowledge and an excellent local market penetration – and the presentation of the Group’s latest models are an integral part of our development strategy on the EMEA markets offering the best growth perspectives in the short-medium term,” stated Ferruccio Rossi, Ferretti Group’s CEO. “The Moscow Boat Show 2013, which has now reached its sixth edition, will extend over approximately 45,000 square metres this year and will be attended by more than 350 international boating companies. This Show represents an interesting business opportunity for us and an unmissable event in terms of visibility, since we are identifying a considerable growth potential in this area thanks to the timeless attractiveness of our products – true ambassadors of Made in Italy production all over the world”.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "Ferretti Group announces its presence at Moscow Boat Show 2013".

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Vietnamese President Vo Van Thuong resigns amid anti-corruption campaign

HANOI, Vietnam — Vietnamese President Vo Van Thuong resigned after a little over a year in the position, the Communist Party said Wednesday, making him the latest senior official to leave office after likely being implicated in an intense anti-corruption campaign.

The party said it had accepted his resignation, writing in a statement that “violations by Vo Van Thuong have left a bad mark on the reputation of the Communist party.”

Thuong is the second president to resign in two years, something analysts called a worrying sign for political stability in a country that plays a key role in the middle of U.S.-China competition and a growing one in global manufacturing.

His resignation came after weeks of rumors suggesting that he would be removed from office, and on the eve of a special session of Vietnam’s parliament dedicated to “personnel matters.”

Days earlier, Vietnamese police said they arrested the former head of Central Vietnam’s Quang Ngai province for corruption. He was previously supervised by Thuong as the provincial party chief.

Thuong, 54, became president in March 2023, two months after his predecessor Nguyen Xuan Phuc resigned to take “political responsibility” for corruption scandals during the pandemic. He was the youngest president since modern day Vietnam emerged from war in the mid-1970s.

The position of president in Vietnam is largely ceremonial and ranks third in the country’s political hierarchy. The most powerful position is that of Communist Party general secretary, a post held since 2011 by Nguyen Phu Trong, who is 79.

The ideologically conservative Thuong was considered Trong’s protege, and his departure underscores the reach of the anti-corruption drive that has been Trong’s “most important legacy,” said Nguyen Khac Giang, an analyst at Singapore’s ISEAS-Yusof Ishak Institute.

Truong’s “violations” had “negatively affected public perception, as well as the reputation of the Party and the state. Being aware of his responsibilities before the Party, the state and the people, Thuong has sent his resignation from his positions,” a party statement reported by state media VN Express International said.

The announcement precedes a meeting in Hanoi of Vietnam’s parliament scheduled for Thursday, when it is likely to approve the party’s decision to accept the resignation. It is unlikely that a permanent replacement would be elected very soon, Giang added.

It wasn’t clear what the exact nature of the violations was but Thuong’s resignation took place days after the former head of Central Vietnam’s Quang Ngai province was arrested on allegations of corruption while Thuong was party chief in the province. The former head was part of an investigation into a real estate firm for alleged forgery.

The fact that the alleged violations were reported by the Central Inspection Commission, the Communist Party’s mechanism for carrying out the anti-corruption campaign, implied that Thuong was “implicated in the anti-corruption” campaign, Giang said.

The news of Thuong’s resignation broke in the evening when the streets of Hanoi were filling up with people returning from work. Almost everybody was on their phones, from young students in cafes to guards outside ancient monuments. The narrow winding lanes of the city’s Ba Dinh district echoed with the sounds of televisions.

The anti-corruption drive, described by Trong as a “blazing furnace,” has helped cement the top leader’s authority, but Giang said that factions in the party have also sought to use it to purge rivals.

Analysts have warned that the anti-corruption drive has hurt Vietnam’s business environment , making foreign investors jittery about unpredictable economic policies.

Vietnam has tried to strike a balance between its larger neighbor China and the U.S. while positioning itself as an ideal home for businesses looking to shift their supply chains out of China. Last year it was the only country that received both American President Joe Biden and China’s Xi Jinping on state visits.

The campaign has also meant a significant rise in the power of both state and party enforcement agencies.

Rumors of a potential political change flared after a state visit to Vietnam by the Dutch royal family was postponed due to “due to domestic circumstances,” according to a statement from the Dutch Royal house.

The World Bank president likewise put off a visit planned for this week.

Trading volume on Vietnam’s stock exchanges hit a record high on Monday as investors speculated over the president’s future.

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Vietnamese President Vo Van Thuong resigns amid anti-corruption campaign

FILE - Vietnam’s President Vo Van Thuong addresses the media during a joint press conference with Japan’s Prime Minister Fumio Kishida after their meeting at the prime minister’s official residence in Tokyo, Japan, Monday, Nov. 27, 2023. Vietnamese President Vo Van Thuong resigned after a little over a year in the position, state media VN Express reported. His resignation takes place amid an intense anti-corruption campaign that has hit the highest echelons of the Communist Party. (Richard A. Brooks/Pool Photo via AP, File)

FILE - Vietnam’s President Vo Van Thuong arrives at Beijing Capital International Airport to attend the Belt and Road Forum in Beijing, China, Tuesday, Oct. 17, 2023. Vietnamese President Vo Van Thuong resigned after a little over a year in the position, state media VN Express reported. His resignation takes place amid an intense anti-corruption campaign that has hit the highest echelons of the Communist Party. (Parker Song/Pool Photo via AP, File)

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HANOI, Vietnam (AP) — Vietnamese President Vo Van Thuong resigned after a little over a year in the position, the Communist Party said Wednesday, making him the latest senior official to leave office after likely being implicated in an intense anti-corruption campaign.

The party said it had accepted his resignation, writing in a statement that “violations by Vo Van Thuong have left a bad mark on the reputation of the Communist party.”

Thuong is the second president to resign in two years, something analysts called a worrying sign for political stability in a country that plays a key role in the middle of U.S.-China competition and a growing one in global manufacturing.

His resignation came after weeks of rumors suggesting that he would be removed from office, and on the eve of a special session of Vietnam’s parliament dedicated to “personnel matters.”

Days earlier, Vietnamese police said they arrested the former head of Central Vietnam’s Quang Ngai province for corruption. He was previously supervised by Thuong as the provincial party chief.

Thuong, 54, became president in March 2023, two months after his predecessor Nguyen Xuan Phuc resigned to take “political responsibility” for corruption scandals during the pandemic. He was the youngest president since modern day Vietnam emerged from war in the mid-1970s.

The position of president in Vietnam is largely ceremonial and ranks third in the country’s political hierarchy. The most powerful position is that of Communist Party general secretary, a post held since 2011 by Nguyen Phu Trong, who is 79.

The ideologically conservative Thuong was considered Trong’s protege, and his departure underscores the reach of the anti-corruption drive that has been Trong’s “most important legacy,” said Nguyen Khac Giang, an analyst at Singapore’s ISEAS-Yusof Ishak Institute.

Truong’s “violations” had “negatively affected public perception, as well as the reputation of the Party and the state. Being aware of his responsibilities before the Party, the state and the people, Thuong has sent his resignation from his positions,” a party statement reported by state media VN Express International said.

The announcement precedes a meeting in Hanoi of Vietnam’s parliament scheduled for Thursday, when it is likely to approve the party’s decision to accept the resignation. It is unlikely that a permanent replacement would be elected very soon, Giang added.

It wasn’t clear what the exact nature of the violations was but Thuong’s resignation took place days after the former head of Central Vietnam’s Quang Ngai province was arrested on allegations of corruption while Thuong was party chief in the province. The former head was part of an investigation into a real estate firm for alleged forgery.

The fact that the alleged violations were reported by the Central Inspection Commission, the Communist Party’s mechanism for carrying out the anti-corruption campaign, implied that Thuong was “implicated in the anti-corruption” campaign, Giang said.

The news of Thuong’s resignation broke in the evening when the streets of Hanoi were filling up with people returning from work. Almost everybody was on their phones, from young students in cafes to guards outside ancient monuments. The narrow winding lanes of the city’s Ba Dinh district echoed with the sounds of televisions.

The anti-corruption drive, described by Trong as a “blazing furnace,” has helped cement the top leader’s authority, but Giang said that factions in the party have also sought to use it to purge rivals.

Analysts have warned that the anti-corruption drive has hurt Vietnam’s business environment , making foreign investors jittery about unpredictable economic policies.

Vietnam has tried to strike a balance between its larger neighbor China and the U.S. while positioning itself as an ideal home for businesses looking to shift their supply chains out of China. Last year it was the only country that received both American President Joe Biden and China’s Xi Jinping on state visits.

The campaign has also meant a significant rise in the power of both state and party enforcement agencies.

Rumors of a potential political change flared after a state visit to Vietnam by the Dutch royal family was postponed due to “due to domestic circumstances,” according to a statement from the Dutch Royal house.

The World Bank president likewise put off a visit planned for this week.

Trading volume on Vietnam’s stock exchanges hit a record high on Monday as investors speculated over the president’s future.