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.

Monaco Yacht Show Vs MYBA Selection

Burgess stand at the MYS in 2008

Another new yacht show ?
As you probably know, the 19th edition of the Monaco Yacht Show (MYS) is being held from September 23 to 26, 2009 in the Principality of Monaco.
However, it seems that the MYBA members (Mediterranean Yacht Broker Association) have decided to run a concurrent yacht show for three days from Friday 25th to Sunday 27th September.

The "MYBA yachts" will anchor in the Rade de Saint Hospice, five miles west of Monaco Port Hercule and potential buyers will be ferried by private tender from the official Monaco show to the MYBA Selection fleet.

Major brokerage companies (Burgess, Camper & Nicholsons International, Edmiston & Company, Fraser Yachts...) are all members of the MYBA.

A MYBA broker added that in 2008, yacht owners were often unable to secure one of the oversubscribed berths...and some were also unwilling to pay the high entrance fees required at the MYS.

However, the 19th edition of the Monaco Yacht Show is nonetheless fully booked up and the yacht list will be on-line in July 2009.

Superyacht Eclipse: launched !

Click to enlarge

Built by Blohm and Voss shipyard, in Hamburg, Eclipse, the 557ft vessel is the biggest private superyacht in the world. She features a missile-detection system, two helipads, a luxury spa, a swimming pool and a miniature submarine and is reported to have cost nearly £300millions.

Currently, no information or picture of the interior is available.

The superyacht is due to be delivered in 2010 and will join the rest of Abramovich's fleet ( the 377ft Pelorus, the 282ft Ecstasea and the 161ft Feadship Sussurro.


Pelorus at anchor near Antibes

Accoridng to sources, Abramovich reportedly lost up to £13billion in the global financial crisis.

Luxury Trend
According to consultant Bain & co "The new concept of "luxury shame" is damaging the high end retail market, as wealthy consumers feel extravagant spending is irresponsible and disrespectful, according to a new report."...

Dow Jones Luxury Index

NEW YORK, June 8, 2009 --
Dow Jones Indexes, a leading global index provider, today announced that Rodriguez Group (France, Personal & Household Goods, ROD.FR) will be removed from the Dow Jones Luxury Index.

Rodriguez Group (France, Personal & Household Goods, ROD.FR) will be replaced by Aeffe S.p.A. (Italy, Personal & Household Goods, AEF.MI) in the Dow Jones Luxury Index. Rodriguez Group is being removed due to its filing for safeguard protection in France.

All changes will be effective before the open of trading on Thursday, June 11, 2009.

The Dow Jones Luxury Index measures the market performance of companies worldwide that derive a sizeable portion of revenues from providing "luxury" goods and services. The index contains 30 securities selected by editors of The Wall Street Journal. The editors choose securities reflecting the make-up of the luxury segment and to achieve diversification across countries, sectors and market capitalization. The index is weighted by float-adjusted market capitalization.

Bloomberg reported that James Packer who was Australia’s richest man last year, is trying to sell his 165ft Mangusta 165 he bought in August, according to Sydney Sunday Telegraph...

Thought of the day...

“We would love to go for another year without paying our bills...This is not balanced competition.”
Fabio Ermetto
Sales Director at Heesen Yachts

Broken engine of the month

Unfortunately, the Captain was sacked because he broke the two engines...in two weeks

Superyacht valuation question...

Goooooood news

In March 2008, the superyacht "Maltese Falcon" launched in 2006 by Perini Navi Istanbul was for sale for €115,000,000.
The superyacht is now for sale for...€70,000,000: yes, that is a big saving !!!

We strongly suggest you wait another year before you purchase your next superyacht...;-)

>> Maltese Falcon website

Yacht Financing Question

"The bigger problem now is not finding the client, it's finding the leasing for the client..."
Fabrizio Politi told the Reuters Luxury Summit in London

>> Interview published on Reuters UK

Click to enlarge - MY "Indian Empress" was at anchor in Cannes.


During the Monaco Grand Prix, Vijay Mallya, owner of the Force India team, has moored his 95-metre yacht, Indian Empress, offshore, determined to enjoy himself in the best traditions — and in spite of him losing his billionaire status in the recession.
“Glamour and sport go hand-in-hand and it’s no more obvious than in Monaco,” he said. “Monaco is a race that is so famous that almost everybody wants to come to it.”

Times Online