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.