More than 450 guests from sport, commerce and the boating industry gathered for the annual showpiece, which saw last year’s UIM world champions receive their winners’ trophies. 

The awards, which were broadcast live on UIM TV and the Olympic Channel, were the first to be supported by the Shanghai-based Bund Holding, who recently signed a collaboration agreement to continue their ongoing involvement and commitment to the world of international powerboat racing. 

UIM President Raffaele Chiulli and Bund Holding counterpart Xin Chongjie welcomed Prince Albert II at a pre-awards reception, where he was given an introduction to the innovatory BUND Electric Integrated Propulsion System (EIPS) high-performance marine racing engine.

The engine is due to be used in the 2018 UIM-H2O Nations Cup World Series and the V20 solar boat for the 2017 Monaco Offshore Solar Race. 

"The eighth edition of the UIM Awards Giving Ceremony and Gala Dinner also coincides with our 95th anniversary, which gives the event an extra special touch," Chiulli said.

"Special thanks go to HSH Prince Albert of Monaco, who regularly honours the UIM with his presence, and to all the world champions and distinguished guests on this special occasion.  

"In 2016 the UIM organised close to 150 titled events worldwide in the disciplines of offshore, circuit, pleasure navigation and aquabike and it fills me with honour and pride to welcome the resulting world champions to Monaco.

"This year’s edition also bears witness to our new partner China’s Bund Holding Group who enjoyed a successful 2016 as local organisers of UIM Aquabike and Nations Cup events in China and whose plans for the future are built on ground-breaking technical innovation with an immense potential to 'green' our sport."

It is claimed the "greening" of powerboat racing remains a key pillar of the UIM’s philosophy and Chiulli announced the appointment of Marco Casiraghi as the UIM’s green energies ambassador. 

In addition, the 2016 UIM Environmental Award went to Terra Modena Mechatronic Srl for their full electric engine for powerboat racing.

Special mentions were reserved for the environmentally-friendly XCat Grand Prix in Swiss city Lugano, Mercury Racing for the 400S ROS Competition Outboard and Vripack for the V5 solar race boat. 

While the majority of the winners received world titles that have been contested for many years, the UIM used the occasion to introduce a number of new awards.

Among them were the first "Sport For All Award" and and the first-ever Junior Driver and Driver of the Year awards, which went to Estonia's Stefan Arand and the late Massimo Rossi of Italy respectively.  

Meanwhile, Formula One powerboat legend Guido Cappellini was inducted into the Hall of Fame.

The Italian is a 10-time winner of the UIM F1 World Championship and considered a key contributor to improving safety in powerboat racing throughout his whole career.

"It is indeed a great honour to be the first driver acknowledged by the UIM in this way," said Cappellini, who flew in from Abu Dhabi to accept his award.

"To receive the nomination for my work towards increasing safety measures in our sport means far more to me than receiving it for my ten world titles.

"Our sport’s history is full of wonderful competitors and achievements so to be honoured by the UIM in this way is without doubt one of the highlights of my career."

International Automobile Federation (FIA) President Jean Todt was also an award winner, receiving the UIM Safety Award for his role in the FIA’s "Action for Road Safety" campaign.

The accolade was accepted on his behalf by FIA Deputy President for Sport, Graham Stoker.