Brokerage news

The major fire that broke out at Lurssen's Bremen facility earlier this week, destroying a 100-meter plus new build, became a major story in the yachting field. The development is now set to hit the insurance sector with a group of marine insurers that could be facing a payment of up to €590 million over the fire at Lurssen.Various social media posts have been quick to point out the damaged new build, 3 decks of which at least have caught on fire, to be the 140-meter Project Sassi, which was reportedly due to be launched in coming months. The identity of the ship has so far not been confirmed.Industry reports say the insurance policy for the new build was started in October 2014, in a building risk slip led by QBE, a leading Australian insurer with a market capitalisation of over €9 billion. Yet, the 4.6% exposure QBE is understood to have in the slip, potentially equivalent to €27 million in losses, would amount to a loss of nearly 12% of its net profits for the first half of 2018.Dr Duu / Project Sassi before assemblyQBE would in fact not be the insurance company with the largest exposure in the new build, with Lancashire potentially on the hook for €70 million as a 9.4% slip stakeholder. RSA, Atrium and Beazly could also each have to payout between €40m - €45m.The policy, which could now have the largest maritime insurance payout since the sinking of the Costa Concordia cruise ship, is understood to be designed to cover the vessel as well as the related property and construction materials used to build it through to the final delivery.This large insurance payout threat comes at a difficult time for marine insurance providers, which has been prone to a large number of changes and consolidation in recent years. Less than 20% of the yachting premiums written by syndicates turned a profit between 2011 and 2017 according to Re-Insurance, leading to many insurers stepping away from the maritime market.Photos via Instagram and DrDuu

Traditionally, Sinot Yacht Architecture & Design presents its groundbreaking concepts at the Monaco Yacht Show. This year is no exception with Art of Life, a 115-meter concept yacht for art-loving and explorer-minded owners. Art of Life is a statement of elegance, a synthesis of beauty and functionality. Sinot Yacht Architecture & Design will reveal a detailed, over 1.5 meter (60 inch) long scale model of Art of Life at the Monaco Yacht Show 2018 (Parvis Piscine QP48). Art of Life is designed with an emphasis on esthetics and beauty, without compromising on functionality, space and technology. The striking exterior style, with its overhang at the stern and forward projecting bow, is reminiscent of a 16th century Dutch icon of shipbuilding, the schooner yacht. ’Schoon’, meaning both ‘good looking’ and ‘clean’ in Dutch, led to the term ‘schooner’ which stands for a fast, versatile and efficient hull. Sander Sinot explains: “For Art of Life, we augmented this classic yacht type to an innovative motor yacht concept for the present day and the years to come. For the interior, we choose to focus on things in life that really matter, such as spending time with your loved ones, beauty and art. The integrated architecture of the design offers the owner a haven of privacy and the sensorial stimuli for both inner peace and exploration of the beauty and richness of the world around us.”Sander Sinot: “Sometimes one can forget that our life has a limited amount of time, so one can question, how do we use the hours we live? There is no answer other than to invest as much time as possible towards the quality of living. Freedom, love and quality time with family and friends is key. With our yacht concept Art of Life, we want to address this as yacht architects and designers.” On board of Art of Life, the ocean and skies are always nearby given the huge aft window from the stern lounge, the large windows and multiple skylights, the toy garage with fold down hatch for amphibious launches and the vast outdoor spaces at the upper and bridge deck exterior.The spacious and refined design of Art of Life provides plenty of room to integrate all individual preferences of an owner. The architectural setup aboard is intuitive with a clear functional layout and a smart logic flow in the interior. This, combined with state-of-the-art and fully integrated technology, makes Art of Life a beacon of serenity. The entire design is about spaciousness, openness and freedom, as testified by the owner’s state room and private lounge on main deck and upper deck. The Owner’s lounge is reached by a private staircase and unfolds as a grand haven of light by multiple skylights and floor-to-ceiling windows, offering views all around.The panoramic stern lounge of Art of Life, with its large floor-to-ceiling slanted window,offers a grandiose view of the yacht’s wake as it disappears into the distance. The expansive upper deck lounge with full-glass facades and open decks and ever-changing views that will never cease to inspire. The indoor health & beauty center of Art of Life is located on the lower and main decks and features a connecting area with an open, architectural staircase for an exceptionally spacious effect. The flybridge atop of the bridge deck, unique by design and function, is perfect for enjoying expansive views of the surrounding world with family and friends. The vast exterior al fresco spaces are perfect for dining, lounging and partying at sea or in port. All four decks are designed based on fitness for purpose, resulting in maximum comfort for the body and soul thanks to the large indoor pool, sauna, treatment, hair & beauty and massage areas and stern lounge, which boasts a 384-inch retractable cinema screen. The gym and relax area at the health & beauty center feature fold-down hatches to the water level offering amazing views over the seascape outside. This all lends to a pure and aesthetic interior, using precious materials, rich detailing and superior craftmanship that result in serenity and balance. Luxury is inherent but never a statement in itself, merely a facilitator of onboard experiences.Like other concepts Sinot Yacht Architecture & Design has presented over the years, Art of Life is ready to be built. This concept is designed for discerning entrepreneurs, connoisseurs and explorers who want to express their individuality. Art of Life: full of art, full of life.”

Rainbow is a 40-metre sailing yacht, built to an exceptional standard by Dutch masters at Holland Jachtbouw in 2012. She is a faithful and detailed reproduction of the original Rainbow built in 1930, who won the America's Cup four years later after the launch. Rainbow was built for the new J Class Rule and boasts high-tech features such as carbon rigging and hydraulic handling, which makes her a serious contender on the regatta circuit.Dykstra Naval Architechts developed Rainbow from the original plans of the 1934 America's Cup winner and slightly smoothed her lines, making her more hydrodynamic. She can be described as a modern classic, with the hybrid diesel/electric drive and electrical system, high modulus spar, carbon rigging and electrohydraulic sail and handling.Rainbow has been successful at the Porto Cervo Maxi Rolex Cup and Loro Piana Caribbean Superyacht Regatta & Rendezvous, BVI. As well as being a strong regatta contender, Rainbow, with interiors by DeVosDeVries Design is ideal "silver service" charter yacht, with accommodation up to 6 guests. She is presented in immaculate condition following considerable investment in a 2016 refit. Below decks, Dykstra and deVosdeVries design have collaborated with the yard to make an Art Deco style interior.There is a beautiful dining saloon and good accommodation for the permanent crew forward. Outside of the races, Rainbow will offer a luxurious cruising experience for guests.Recently, YPI announced a price reduction of €1,750,000 on one of the best of today's J-Class yachts for sale. The yacht is now for sale at €8,750,000 (VAT Paid). Rainbow will be available to view at the upcoming Monaco Yacht Show at Berth C11. This is a unique opportunity to view the only J-Class yacht in the show.If you are interested in Rainbow contact YPI: Will BishopT. + 377 99 99 97 97M. +33 (0) 627 32 65 42E. william.bishop@ypiyachts.com

Gulf Craft's superyacht the Majesty 140 wins the prestigious award for 'Best Yacht Layout' at the 17th edition of the coveted World Yacht Trophies. Competing with superyachts from leading top European yacht manufacturers, the Majesty 140 made her global debut at Dubai International Boat Show this year. One of the sought-after awards in the yachting sector, the famous World Yachts Trophies is held every year during the Cannes Yachting Festival. Organized by Yachts France, the entries were judged by a panel of experts made up of highly qualified members belonging to the steering committee of the publishing network. The panel was entrusted with the task of selecting and evaluating the boats and the winners for each category.A masterpiece created by Gulf Craft’s very own Design Studio, the Majesty 140 sets new standards in on-board space and entertainment features. In a class of its own, the luxurious tri-deck superyacht boasts a Gross Tonnage of 360 tons and features 6 staterooms with the option to increase up to 7 staterooms. The elegant 140-foot superyacht's extensive glass side windows allow plenty of sunlight inside and give the guests stunning panoramic views of the seascape around. Recently, the first hull renamed as C'est La Vie, which translates as "This is Life" was delivered to her owner. The Majesty 140 is the successor of the other award winning superyacht, Majesty 135. Notis Meneloau, VP of Sales and Mahmoud Itani, Marketing and Communications Manager received the prestigious award during the glittering ceremony that took place on Saturday, September 15, 2018 at the Intercontinental Carlton Hotel, Cannes.The invitation-only night is a great bonding evening for yachting professionals, owners, shipyards and media to meet and reward the best innovations of the luxury nautical industry of last season. Over 300 guests attended this exclusive cocktail gala night comprising a prestige dinner, yacht parade, awards ceremony, fireworks and party.

With the date on which IMO Tier III regulations come into force for all superyachts fast approaching, suppliers such as MarQuip are increasingly in demand. This year’s Monaco Yacht Show will set the stage for the Dutch experts in exhaust systems and silencers for the industrial, energy and marine markets to showcase its unrivalled solutions and know-how.The IMO Tier III regulations stipulate that nitrogen oxide (NOx) emissions must be some 70% lower than those permitted under the Tier II rules. These latest standards have applied to large vessels built in or after 2016 which are intended to sail the world’s major sailing areas, and will come into force for all superyachts from 2021 onwards.While this eco-friendly measure has been applauded by the boating community, it will create many new challenges for the builders and operators of yacht engines. Boats on the smaller side will be subject to particular constraints – in most cases it will not be enough to just tune the engine, with a combination of new techniques and technologies required instead.The problem is essentially one of size. “After-treatment units are heavy and bulky, and smaller yachts have smaller engine rooms,” explains Jeroen van der Matten, MarQuip’s general manager of operations. “On larger boats, engine manufacturers are producing engines with standardised after-treatment. This has the added value of allowing producers to deal with a single supplier, and facilitates certification, servicing and warranty issues.”“With yachts below 500 GT, however, there will often not be enough space for these standard solutions,” Van der Matten points out. “This is where MarQuip can provide serious added value: we can deliver custom solutions that will fit each engine room, and we have the capability to combine a silencer and an after-treatment system in a single unit – both things that engine manufacturers cannot.”Thanks to its many years of experience and unrivalled expertise in yacht exhaust systems, MarQuip is well placed to respond to these challenges with a selection of innovative solutions. The company has experience in a wide range of custom exhaust projects and is particularly good at merging existing components with its own solutions.MarQuip looks resolutely to the future. “We would like to challenge engine manufacturers to come up with better options and better solutions,” Van der Matten continues. “Normally enginesand after-treatment units are delivered as big standardised boxes and that’s it – more often than not they will be slightly adapted versions of solutions originally designed for onshore applications. This may work for tankers or large commercial vessels, but is a far cry from what many owners of smaller yachts need. The industry could benefit from a more maritime-centric perspective.“There are very few superyachts on the water with the latest after-treatment systems; they are mostly still being built. The first problems will come up – and be managed – over the coming few years. We are already seeing a lot of discussions about factors such as which materials to use and the best ways to tackle corrosion. These are all new topics, new problems and new challenges. In partnership with its customers and partners, MarQuip stands ready to provide the solutions.”MarQuip will have a representation without a fixed stand at this year’s Monaco Yacht Show, which will take place from 26 to 29 September. The company’s team will be on hand to discuss the IMO Tier III regulations and their implications for the period beyond 2021, as well as other new developments and projects.