Johnny Depp Hangs With Will Smith in Italy, Second Time Together Overseas

Forget the Black Pearl -- Johnny Depp is on a yacht off the coast of Italy, and Will Smith is also on board ... marking at least the second time the dudes have linked up overseas.

The 'Pirates' star and the 'Bad Boys' actor are in Italy together for their guest appearances this week at an Andrea Bocelli concert series ... and it looks like they're logging some R&R before the gig on the same vessel.

Johnny and Will were photographed aboard a fancy yacht in photos posted Tuesday by Egyptian singer Ahmed Saad ... and they also posed for a pic with German DJ Rampa .

PEOPLE reports Johnny and Will are together en route to the Bocelli concert.

JD and WS are set to join Andrea on stage Wednesday and Friday as part of a star-studded lineup in Lajatico, Italy ... Bocelli's hometown in the country's Tuscany region. The concert is being filmed and made into a movie, marking Andrea's 30 years in music.

Johnny plays in a band when he's not acting and Will had some hip hop hits back in the day ... so they definitely have a leg to stand on as far as bona fides for being in this mashup.

More importantly though ... this latest reunion seems to suggest their bromance is growing stronger -- remember, they got together last year in Saudi Arabia for a film festival there, and were hugging it up and looking chummy in the Middle East.

On its face ... it seems like a friendship is blossoming here, a globetrotting one at that.