Quote of the Day

"I’m no economist so won’t try to pontificate on the mechanics of a yachting bubble compared to property, dot com shares or the South Sea Company. It does strike me, though, that yachting has a few unique drivers like impatience, a good dose of bluster (to put it kindly) and general tendencies of one-upmanship."
Dickie Bannenberg - published on the Synfo.com Forum

Superyacht picture: Classic Yacht Oiseau de Feu

Built in 1937 for RORC Commodore Ralph Hawkes, Oiseau de Feu (ex. Firebird X, ex Flame II ex, Vindilis II) was originally launched as Firebird X and had been rigged as a Marconi cutter.

Renamed Oiseau de Feu in 1970 and upgraded by Labbé shipyard and Ribadeau Dumas architect, this classic yacht has since been classified under the French flag as an historic monument.
Credit: charterminute.com







Yacht available for charter with Charterminute.com

No superyacht tax but new boat tax !

Balticbusinessnews.com website reported recently that "The plan of City of Tallinn to start taxing small craft up to 12 metres long next year shows the City's interesting relationship with rich businessmen."

The website also reported that "Tallinn will introduce a sales tax for traders and retailers which is expected to bring in 150 million kroons. Sales tax will be paid by natural persons who are self-employed in trade business or service sector and by legal persons that operate in the retail, catering or service segment."

Ekspress has listed Estonia's 20 longest motoryachts by length, name and owner...

Balticbusinessnews.cm

Tiger Woods yacht picture

Tiger Wood's superyacht is a $22m 155-foot motoryacht build by the American shipyard Christensen in 2004.





Tiger Woods' yacht 'Privacy' is seen being loaded with supplies while docked at Old Port Cove in North Palm Beach, Florida.

Crew attempted to disguise the yacht by covering its name up.

What's new in Antibes ?

Plastic wrapped superyacht


The aft deck of the 75m Lurssen Coral Island is partially wrapped up in white plastic.

This is just the same with the Feadship Rahal while the 75m Oceanco Anastasia is having new teak on her swim platform.



Waiting for a new owner...


The 75m sailing yacht Phocea, built 33 years ago by DCN, is still waiting for a new owner.

New kid in town !



The recently launched Amels 171 Limited Edition Addiction, designed by Tim Heywood, is waiting for her owner.

Yacht out of control

One of the rare video that shows a yacht (117ft/41m Royal Denship "Unforgettable") which was out of control and crashed against the dock.
The end of the video shows that Royal Denship used to build robust yacht...

The shipyard was declared bankrupt by the Bankruptcy Court in Aarhus in April 2009.

Credit: Unknown - Youtube.com

Picture of the day: Plamer Johnson vanquish

Click to enlarge

The Palmer Johnson PJ120 Vanquish was spotted in Cannes Vieux Port.
Photo credit: Charterminute.com

Time to go green !

Click to enlarge

Article published on the Daily Mail website
How 16 ships create as much pollution as all the cars in the world...

We've all noticed it. The filthy black smoke kicked out by funnels on cross-Channel ferries, cruise liners, container ships, oil tankers and even tugboats...

Read the complete article here and check out the map showing the world's major shipping routes and the density of traffic - and therefore- pollution along them.

Will the bonus boom buoy the super yacht market ?

Boat International Brokerage Editor Malcolm MacLean reported several recent sales with key players like Camper & Nicholson, YPI, Burgess, Fraser Yacht and Edmiston.

The Wealth Bulletin reported that "A wave of around £6bn ($9.9) in bonuses expected to be distributed to City financiers in spring will support London's prime property market in areas such as Chelsea and Kensington, although the mainstream market is expected to continue to decline."

However, a Savill representative said that "The question is whether bonuses will be paid enough in cash versus equity".

What wil be the effect on the super yacht market ?

Yachts arrested over unpaid yard bill

An interesting article published on the Triton website
>> read the article

Yacht for sale, make offer !!!

Photo BillionaireXchange.com

Your superyacht is on the market for more than 1 year...

Your favorite broker, alias "Large Yacht Consultant" alias "Senior Superyacht Broker" alias "Superyacht Expert" strongly suggested to reduce the asking price for a quick deal but "you know, the market is very quiet".

Did you know that, now, you can put up your superyacht for auction ?
BillionaireXchange is "the world’s first online auction and trade site for luxury items. Members of The Xchange are able to buy, sell, bid-on, auction, and or exchange luxury items all around the world."

Check out this 157ft Trinity

Cruise tip question...charter tipping?

In a recent post, The Times website reported that "Cruise-ship passengers are becoming increasingly hostile to a system of tipping that is more mandatory than discretionary, and is used to subsidise crew salaries, rather than reward good service."

The big cruise company like giant Royal Caribbean International admits that it is “rethinking” its policy...

Royal Caribbean International has announced that it will be reviewing its on-board tipping policy due to the lack of gratuities from British passengers.

Charter tips is an old debate and charter yacht crew have come to expect tip's as part of their income. Although charterers are generaly High Net Worth Individual, the tipping policy is sometimes an issue: what effect will tipping change in the cruise industry have on the charter industry ?

Have a look at the Times article here: Times Online

Moran Yacht: Florida yacht broker gets prison time for offshore tax evasion

"I am really very sorry for opening this account and not reporting it"
Broker Robert Moran at the hearing

According to IBI News, "Florida yacht broker Robert Moran was last week sentenced to two months in prison for offshore tax evasion.

IBI News also reported that "As a convicted felon, Moran will lose his Florida license to sell new yachts."

Quote of the day...

“We had a Russian client who ordered a yacht and then withdrew even though he had to give up the 40 percent deposit...”
Wally spokeswoman Monica Paolazzi

Economic Crisis & Superyacht market trends

New yacht: Luxury Yachtmakers at Monaco Show Cut Prices Up to 20%
>> Bloomberg

Second hand super yacht : My Shanti and Boadicea sold !!!
Accoding to globes.co.il website: "Shari Arison has sold her yacht "My Shanti" for $103 million, six months after putting it up for sales. "Boat International" reports that she made the sale on Tuesday at the Monaco Yacht Show."

In March, Arison put up the 64.5 meter yacht at Fort Lauderdale-based broker Merle Wood Associates Inc. agent Peter Croke confirmed the sale, adding that the firm represented both Arison and the buyer.

Burgess Yacht have also announced the sale of the 70.5 metre Amels "Boadicea".

Picture of the day: Leopard 46m

Click to enlarge - copyright Charterminute.com

The Leopard 46m "Pure One" was at anchor Saturday afternoon near Cannes (ile de Lerins).
On the picture, we can see the foreward dining area shaded by a bimini top.

Designed by the famous italian architect Andre Bacigaluppo, "Pure one" is one of the first Leopard 46m built by Arno shipyard.

She can reach a top speed of 32 knots thanks to her central booster and she is available for charter at a 210,000 euros per week.

From carbon racer to floating villa...

WHY Wally-Hermès Yachts - all images courtesy Hermès

If you thought that the design of superyacht A was bad, you might not want to read this...

WHY is the first yacht project unveiled by the joint venture announced last year between the famous Paris fashion house Hermès and the Monaco yacht builder Wally.



According to Luca Bassani Antivari, president and chief executive of Wally “ WHY is designed to be a luxury floating villa safer and more stable than a typical yacht...”.

According to Hermès source, the future yacht also features solar panels that will help save at least 200 tons of diesel fuel a year. There is a 25-meter interior swimming pool plus a 38m beach...



Length: 58m
Beam: 38m

"Everybody’s dream is to live on an island, in complete freedom, without constraint,
with the independence that only self-sufficiency can provide. A piece of land with
a beautiful villa partly fulfils this aspiration because it is static.
A yacht offers the freedom to move, but does not have the space of a property.
WHY has it all: space, stability, movement, independence, peace. WHY goes even further.



This revolutionary concept of the moving island is developed with the latest and most advanced sustainable technologies, recycling thermal energy, as well as any organic and inorganic waste.
The architecture of the whole project fits perfectly in the environment – there are no excesses, nothing is superfluous, the impact on the sea is minimum.



A new and unique way to live on the sea while caring about it, protecting it, and loving it. All this has always been my dream too, and when I met Pierre-Alexis Dumas I realised that this dream could come true thanks to the common values and ethical principles we share.'
Luca Bassani Antivari, President and CEO of Wally

Picture of the day: SY Penelope

Click to enlarge

The 38m-127ft sailing yacht Penelope (ex: Talofa IV, ex Sayonara) was at anchor during the Cannes Boat Show.

Built in 1968 by Chantier de la Perrière in France, she was designed by the French architect Cornu.
When she was launched, this 38m schooner was the largest private sailing yacht in the world to be built in aluminium.

A windy day for SY Gliss...

Monday afternoon was a windy day in the Antibes area and the 32m Philippe Briand designed sloop "Gliss " had to face a strong East wind.



First, the crew decided to drop their anchor...in the middle of Port Vauban (photo 1)



Following a first attempt and despite the thruster, the superyacht missed berth.

Two crews from another sailing yacht decided to help the Swiss yacht that has a lot of windage.
(picture 2 and 3)



Well done Boys !!!

2009 Cannes Boat Show II

Click to enlarge - Heesen Necklace II, Feadship Paraiso and CRN Pestifer

First impression & Trends

1. Less big toys except Camper & Nicholson fleet (first picture)
2. Less yachts: there is still room for big yachts in Port Canto
   
3. Save money: most brokerage companies have no stand
4. The yachts on display are slightly smaller than last year (Monaco Yacht Show?)
   
5. There is a lovely red carpet...but where are the clients ?
   
   

Click to enlarge


Click to enlarge

2009 Cannes Boat Show

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The big yachts are already on display at the 2009 Cannes Boat Show which takes place 9-14 September in the quays of le Vieux Port and Port Canto.

Here is a picture that shows the Port Canto pier with a selection of second-hand superyachts (click on the picture to read the names) that are for sale with international brokerage companies like Camper & Nicholson, Oceanstyle...

It seems that there is also a new player: Ancasta Yacht Dpt. with the Mangusta 108 "Four Friends" !

However, unofficial but well-informed sources confirmed that 10% of the exhibitors (mostly superyacht brokers) have cancelled this year...

New boat show trend: put the yacht for sale...at anchor near the boat show (Cannes & Monaco Boat Show).

Picture of the day: Lürssen Saint Nicolas

Click to enlarge

The 70m Lurssen Saint Nicolas was spotted near the Lerins island in the Baie de Cannes yesterday.
This massive superyacht was designed by famous architect Espen Oeino (interior by François Zuretti) and delivered in 2007.

Saint Nicolas is the second of three more or less identical yachts (MY Apoise and MY Martha Ann) which were ordered by the same american investor: the idea was that the first two would be sold to finance the third...

Click on the picture to discover how big this superyacht is: there is a crew member standing on the swim platform ...

Superyacht Market Gossip...

According to an unoffical source, Rodriguez Group would have sold several brand new superyachts to a Middle East client.
The mysterious client would have bought several Leopard yachts...only time will tell.

Madoff's $7M yacht for sale

Click to enlarge

MY "Bull", the famous Leopard 27m of Mr Madoff (who is dying of cancer in prison), has been put up for sale by Auctioneer Wyles Hardy & Co on behalf of liquidators.

The yacht was lying in Port Gallice, near Antibes, south of France.
On their website, Auctioneer Wyles Hardy & Co explained that a local sales tax would become applicable after March 2010 (15% VAT rate) : guess where the yacht is currently lying ?
UK or Chyprus both have a 15% VAT rate...Nop, she is still lying in Port Gallice!

VAT status information provided by Auctioneer Wyles Hardy & Co: "All Lots or items are sold exclusive of V.A.T. which will be added to the Buyer's sale accounts at the rate of 15% except those lots which are zero rated for VAT purposes as indicated.

We are informed that when originally purchased the vessel was registered in George Town, Barbados in order to maximise the tax advantage of such a status. We believe that the vessel is therefore held on a temporary importation basis within the European Union.

We understand that this is allowed for a period of 18 months before local sales tax would become applicable. We are informed that the vessel left EU waters on the 28th September 2008 not returning until 6th October that year.

As a consequence we understand that local sales tax or a further visit outside EU waters will not be necessary until March 2010. Prospective purchasers are strongly advised to obtain such information as necessary to satisfy themselves as to the tax basis of this vessel."

Stars and Superyacht

Va Bene - click to enlarge

So you want to know which yacht Naomi Campbell chartered this summer?

Did you know that Jenson Button and girlfriend Jessica Michibata were in the lap of luxury on the ISA Firouzeh, in St Tropez ?

"Why the superyacht is floating the boats of the rich and famous who want a summer holiday with style" published on the Daily Mail website

>> Read more

Yacht accident discussion by Dockwalk

It seems that the recent yacht accidents that we reported on this blog have found some echo in the press.

An interesting article has just been released by Dockwalk (login required) : "Accident reports almost always pinpoint lack of seamanship as the culprit. Mike French goes a step further and looks at why fundamentals are being ignored."

The good thing with Dockwalk is that it is not only a marketing website that only promotes the press release of the shipyards...

Picture of the day: Palmer "Clifford II"

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The 2008 Palmer Johnson 150ft "Clifford II" was at anchor near Antibes today.

This aluminium express cruiser was design by famous architect Nuvolari & Lenard.
Powered by twin MTU 3,650 HP diesel engines, Clifford II can reach an amazing top speed of 30 knots.

Note the folding balcony to starboard.

In 2007 the first two PJ-150’s, "O’Khalia" and "Hokulani", were delivered.
In 2008 another two superyachts were delivered: hull n°3 was "Four Jacks" and hull n°4 is "Clifford II".

Rise of the Billionaire Nomad...to avoid direct taxes

Wealth-bulletin.com - D. Pain
Financial advisers are starting to refer to their wealthiest clients as billionaire nomads -- those who globe-trot between homes to avoid direct taxes from any country.

Ultra-high net worth families have always been mobile, but the crackdown on offshore accounts is making them even more so.
A few have even taken to living on megayachts, apparently deciding that pirates on the high seas are less of a risk than dodging the remorseless embrace of tax authorities.

>> Read the complete article here

Guy Couach Auction

Click to enlarge - Guy Couach 1601 - "Blue Cloud"

Following the economic downturn of the French shipyard Guy Couach, auctioneer Jean dit Cazaux et Sahuquet handled today the auction of 24 yachts (mostly part-exchange yachts from the shipyard).

"Unbelievable", the 31m/107Ft Breaux Baycraft Hargraves built in 1969 was the largest yacht on offer.

The Guy Couach shipyard was recently saved from bankruptcy by a pool of investor.

Here is a picture of the Guy Couach 1601 "Blue Cloud" currently lying in Port Gallice near Antibes.

>> Auctioneer website (in French)

Quote of the day

"A guy who was worth $10 billion and is now worth $5 billion obviously took a hit but he certainly can afford a yacht."
Trinity's (shipyard) owner

US yacht broker back to business

Reuters.com just released an interesting article about the effect of a weak dollar on yacht sales:

1. Sagging US dollar drives yacht sales to foreign buyers
2. Data shows room for growth in global yacht sales

A weak U.S. dollar has helped keep the American shipyards afloat by making yachts more affordable to wealthy overseas clients.

>> Reuters

Riva 60 Corsaro...the biggest Riva in the 80's

Click to enlarge

The Riva 60 Corsaro was the biggest Riva in the late 80's.
She was powered by two 760hp diesel engines and could "glide powerfully over the waves at 31 knots" according to the original brochure.

The Riva 60 could accomodate up to 6 people + crew in her clever layout: there was one master cabin forward, one double guest cabin aft plus the famous bunk bed cabin to port (L shaped cabin).
A vertical ladder gave access to the crew cabin that was located in the bow near the master cabin.


The master cabin - click to enlarge

The original brochure shows a picture of the salon which was divided in two areas: to port was the dining area with a sofa and a table. There was a comfortable L shaped sofa with a burr coffee table to starboard.
The central helm station came with a bouble banquette and there was a central built-in TV set with a VHS player.
As usual with the Riva shipyard, the interior boasted the finest Italian craftsmanship with a sophisticated burr woodwork and a dark blue laminate.


The main salon - click to enlarge


The port guest cabin - click to enlarge

Her large aft cockpit could accomodate...a folding table and a pair of deckchairs.


Nowadays, such yacht interiors are regarded as out-of-date but the Riva 60 Corsaro continues to offer plenty of storage space and a seaworthy hull...

All at Sea: a Special Report form the Financial Times

"...Prices of new and second-hand yachts and superyachts – a super-yacht is loosely defined as a boat more than 30m or 100ft long – fell sharply as the financial crisis deepened..."

Check out the Special Report by Financial Times reporter Victor Mallet

>> FT website

Aussie's yacht linked to missing McCann ?

According to Ninemsn.com.au "The widow and daughter of Australian property tycoon Bill Wyllie say they are perplexed by claims their luxury yacht may have been involved in the disappearance of British toddler Madeleine McCann."

Mrs Wyllie was reportedly "devastated" by British newspaper reports about the possible connection between her 32m yacht and the inquiry.

MY "Will Power", ex "Breeze", is a Sunseeker 105, built in 2001

>> complete aricle

"Mega Yacht, Mega Outrage" by CNBC

A look at what the largest Madoff feeder fund is doing with his Summer vacation, with Vicky Ward, CNBC contributor.

>> Video by CNBC
>> Article here

Same old story...

Phot A.B.


The French newspaper "Var Matin" just reported that the 31m Heesen "Matanthar' (ex Buka) ran aground rocks between Sanary sur Mer and Bandol yesterday.
Her starboard prop and her rudder were damaged as well as the hull and 10 people were evacuated from the yacht.

A 2 meter hole was seen in its hull and the French Coastguards decided not to tow the yacht to the closest port for security reason.
The French authorities closed one beach and sat up water barriers to stop leaking fuel from the hull

The tug "Laisser Aller" has started to pump out the sea water from the semi-flooded yacht.

Any suggestion about the superyacht crew training welcome...

No more mast for the Perini Principessa

The ex-yacht of Mr Berlusconi, the 41m Perini "Principessa Vai Via", lost its main and mizzen masts in July whilst heading to Isola Rossa in Sardegna.

The 1991 yacht that had her mast overhauled last spring and the rigging completely rebuilt, is now the property of Mr Ennio Doris, the President of Mediolanum.

15 people were aboard (7 crew and 8 guests including Doris'wife and daughter) and none of them suffered life-threatening injuries.

Despite strong winds, SY "Principessa vai Via" was towed to Stintino.

2009 Superyacht Market Report by CNI

Camper Nicholson International has just released the second edition of the (super) Yachting Index: the 54 pages report is now available to view online!!!

>> 2009 Superyachting Index

Lady Christine helicopter crash

Click to enlarge - Lady Christine in Monaco - 2009

Superyacht bigger than 50m often feature an helipad for emergency reason or for the Owner 's convenience.

The website Coastguerdnews.com reported that the 55m Oceanco Lady Christine had an helicopter crash. Four people were aboard the helicopter and none of them suffered life-threatening injuries.
According to the Coastguardnews website, "...The Rockland Coast Guard small boat at 6:55 p.m. tied up to the crashed helicopter and towed it to shore on the island, where a marine salvage company will attempt to remove it."

The yacht built by the Oceanco shipyard in 2004 was offered for sale for euro 45,000,000 by Edmiston Company in 2008.

Maltese Falcon sold US$ 100,000,000 ?

According to an unofficial source, Tom Perkins, the owner of the superyacht Maltese Falcon which is currently lying in Antibes, has sold has vessel.

The same sources confirms that the amount of the deal is around US$ 100,000,000.

Middle East Owners Rule !!!

Click to enlarge

The 147m Prince Abdulaziz, the world’s second largest private yacht in the world, is currently at anchor near Golfe-Juan.
Prince Abdulaziz was built in Denmark by Helsingor Vaerft shipyard in 1984 for the late King Fahd. After his dead King Abdulah took over the yacht.




Click to enlarge

The 86m Benetti Kingdom 5KR built in 1980 for Mr Khashoggi, was at anchor near the Ile de Lérins, bay of Cannes.
The pictures shows an helicopter on the top deck.
Both yachts feature a fully closed aft-deck.

Previous owners:
Donald Trump: ex Trump Princess
Adnan Khashoggi: ex Nabila

Another Ponzy scheme...with yachts

It seems that these days american yacht brokers are more creative than ever !

Robert Frank (The Wealth Report) relates the story of a californian yacht broker (a "well-respected businessman ...") who left a message for his employees saying he would return next week.

Investors were told that they were investing in 'boat deals' whereby Mr. Fitzgerald and his partner, David Goodner of Channel Island Yachts were purchasing power and sail boats inexpensively (because of the economy), then selling them to a pre-arranged buyer.

Same old story about yacht broker ?

Click here to read the Wealth Report article

Are you tired of your greedy yacht?

Two expensive yachts for Kim Jong II...

According to a trusted source, the Italian government seized two yacht builts by the Italian shipyard Azimut Benetti.

The yachts were bound for North Korea and were seized because they violated European Union and international rules based on UN resolutions against exporting luxury goods to this country.


The yachts (see the Azimut 105 picture) , worth 13 million euros (18.5 million dollars), were destined for Kim Jong II, the Korean leader. However, Azimut-Benedetti said the Italian authorities had "recently" returned the yachts to the company's possession.

The source reported that the Italian authorities were convinced that the North Korean leader had paid the whole price for the yachts...

2009 trend: James Bond Like Yacht...

CNN (UK) - Wealthy arm their yachts with military-level security
According to a recent article published by CNN UK "The world's richest people are spending millions arming their super-yachts with military-style technology and trained personnel to fight off potential attackers."

The threat of pirates and growing fears that yachts may be their next target have led many owners to equip their vessels with the latest James Bond-like technology.

Hidden chambers, escape pods, tracking devices and ex-marines employed as security guards have all risen in popularity.

"It is only a matter of time before pirates move from cargo ships to attacking super-yachts cruising near Somalia," Michael Howorth, former super-yacht captain and technical editor at SuperYachtWorld magazine, told CNN.

The article also reported that "Fraser Yachts, a Monaco-based yacht-chartering company, has submarines available for clients who charter super-yachts. Fraser Yachts would not confirm whether these submarines double as escape pods for some clients."

>> More info here

Bad news for Rodriguez Group...

Click to enlarge - Leopard 46m Pure One in Antibes

After 33 years of collaboration with the Rodriguez Group, Leopard Yachts (previously Arno shipyard), builder of the Leopard range, have announced their independence from their long marketing partner Rodriguez Group.

In 1986, Gerard Rodriguez, founder of Rodriguez Group, signed an exclusive worldwide agreement to sell the Leoprd range.

According to Synfo.com "Rather than focusing exclusively on production for a sole dealer, Leopard Yachts now intend to handle their own marketing and selling rather than having the Rodriguez Group managing the market for them".

The question is: what will happen with Overmarine, the Italian sipyard that builds the Mangusta range?

>> Italian announcement from the shipyard (PDF)

Yacht Owner Vs Yacht Broker...

According to the TimesOnline website, Boris Berezovsky, the exiled Russian tycoon, has become embroiled in a bitter dispute with a boat broker after he sold his 360ft superyacht to Abdulla al-Futtaim, a billionaire car dealer from the United Arab Emirates for a quick £47m profit.

The superyacht (project Darius) is equipped with "personal escape launch" - a speedboat with turbo-charged twin diesel engines capable of exceeding 75 knots. It is also equipped with an arsenal of sonic guns that fire low-frequency sound waves that can burst the eardrums of approaching assailants".

Project Darius has a length of 110 metres and has an exterior design of Tim Heywood with an interior of Glenn Pushelberg.

The Times reported that Mr Berezovsky did not pay the commission of £12.75m which Edmiston and a fellow broker, Merle Wood in America, now claim they were due...

>> Times

Happy Easter !

Happy Easter everyone !
Here is a summer cocktail that was was crafted by Jacques Bezuidenhout, the mixologist at Nios restaurant and wine bar, which opens today in New York City’s Muse hotel.

The drink, which uses the French aperitif Lillet, pays homage to Bernie Madoff’s yacht, Bull, just seized from a harbor in the South of France.

Bon Voyage, Bull

• 1 1/2 oz. 10 Cane Rum
• 1 oz. Lillet
• 1 3/4 oz. pear juice
• Dash of Angostura orange bitters

Shake all ingredients with ice and strain into a chilled cocktail glass. Garnish with a lemon twist.

Published on Vanityfair.com

Yes, it happended again...

Cavallo island

Latest news: Following the accident of MY Pari and the recent crash of a Princess motor yacht in Sardegna, the 27m British flagged MY "Nine Moon" just ran aground near the Cavallo island, South of Corsica...

The French authorities reported the death of a man in his 60's.
According to the same sources, a woman was seriously injuried too.
A total of 9 Spanish people were on board when the yacht ran aground.
The Court of Ajaccio has open an investigation for manslaughter.

R.I.P.

Luxury Market Trend

Robert Frank just published an interesting article on his blog The Wealth Report.
The american journalist reported a new market trend: "One of the silver linings of the recession is the sudden availability of all things exclusive.

Like country club memberships. Or top-restaurant reservations. Or private jets. After years of short supply and mass demand from rising riches, super-luxury items are now yours for the taking (or at least, for a 20% discount)."

Following the order boom of the last 3 years and the recent launch of many new superyachts, are the soon unoccupied superyacht shipyards going to discount their production ?

>> Wealth Report

Princess Still Rocks !

Yes, it happended again...

The brand new 2009 Princess 85ft "Afina Pallada" was stuck on the rocks in Sardegna two days ago.
The kiwi crew (4 people) were rescued by the coastguards and were not injuried.
The GRP hull was seriously damaged.

According to the local authorities, the yacht will be shipped from Porto Cervo to Nice.