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Yacht views from the side
An epitome in luxury, yachts have long been the playground for the rich and famous. Many wealthy...
How to charter a yacht in the Balearic Islands
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Why do some yachts really say not for sale in U.S. waters?
Nowadays, the majority of yachts are registered (i.e. flagged) offshore, with the Cayman Islands, Marshall Islands and St. Vincent remaining the most popular registries, as the flag you choose for your superyacht will have a direct impact on your taxes. In most cases, flagging your vessel offshore enables to avoid taxes on the hull value. The savings can be significant, compared to the sales tax value (TVA or VAT) that would have to be paid. When it comes to U.S. tax regulation, not only the potential buyer but also the seller have to pay certain taxes in order to settle a potential deal. In order to avoid it, as well as strict manning requirements, many yachts are originally listed for sale with a mark ‘not for sale to U.S. residents in U.S. waters’. The general policy derives from a 111-year-old law, preventing sales of foreign-flagged yachts to U.S. citizens when the boats are in U.S. waters. The law requires foreign-flagged vessels to pay an import fee even before they are offered for sale to U.S. residents while in U.S. waters. Over the past years, the International Yacht Brokers Association (IYBA) urged the Congress to change the form of the 1908 law. The bills that have been filed would not remove the tax paid on the boat, but would defer payment of it until after the boat is sold.This situation also often pertains to a yacht registered in another country that is within US waters on a cruising permit.IYBA executive director Cindy Sailor, has recently reintroduced the bill to the new Congress in an effort to boost the yachting industry and encourage more sales in U.S. waters. He explained: We’re not asking to get any sort of forgiveness for paying the duty. We are requesting that the time of collection of the duty be changed to when the yacht is sold, rather than when it goes on the market.He adds:It’s counterintuitive to pay the import tax on the value of a boat before you know what the actual selling price is going to be. A 1.5 percent tax is sizable and most yacht owners don’t want to pay duty just to put the boat on the market with the hopes of selling it to a U.S. buyer. Matt Ruane, director of JTC Marine and Aviation, cites some specific reasons the U.S. flag may not appeal to owners of large yachts.U.S.-resident master and crew are required for all large yachts, unless operating privately and outside of U.S. waters. A U.S. flag requires US corporate or private ownership, and the concept of nominee directors and shareholders is less understood and thus, less acceptable, essentially meaning that U.S. corporate ownership is more transparent.Still, according to HMY Yachts, the sweeping tax reform, the Tax Cuts and Jobs Act of 2017, has included some new provisions that can provide benefits on yacht purchases and also yachts for charter that are used for legitimate business purposes. The new bill codes around bonus depreciation and will come in effect through 2022. With this, up to 100% of the purchase price can potentially be written off as bonus depreciation in the year of the purchase if all requirements are met. And there is no dollar limit to the purchase price. That same depreciation applies to any improvements made to the vessel in the same year as the purchase.To qualify for these benefits, the buyer must be an entity—corporation, partnership, or LLC—that will use the vessel for a legitimate business purpose, for instance, by purchasing a yacht and using it for charter.
Cannes Film Festival 2019: 10 out of the largest billionaire superyachts spotted on the French Reviera
Annually, the Cannes Film Festival unofficially represents the beginning of superyacht season in France. The event becomes one of the season's destinations for many of the world's wealthiest people. This year’s Festival started on May 14, continuing till May 25, with the most magnificent superyachts showcased in various locations along the French Riviera. Below is the listing of some of the largest superyachts owned by billionaires, that have already occurred in the area, according to Forbes information.#1. EclipseBuilder: Blohm+Voss (2010)LOA: 162,5mOwner: Roman Abramovich ($12.8 billion)Location: AntibesFamously built for Russian billionaire, Roman Abramovich and the owner of Chelsea football club as the flagship of his fleet, Eclipse was delivered in 2010 by German shipyard, Blohm+Voss (now part of Lurssen), as the largest yacht in the world, a title that she held until the delivery of the 180-meter Azzam in 2013.Although not on the open charter market, Eclipse is available for rent according to several sources at a rate of €3 million per week with the owner's team dealing with the management of the superyacht's operations themselves, without the involvement of any brokerage firm.Refitted in 2015, Eclipse boasts a 56-meter private owner's deck, a 16-meter swimming pool that can transform into open deck and can carry up to three helicopters at a time.#2. DilbarBuilder: Lurssen (2016)LOA: 156mOwner: Alisher Usmanov ($12.8 billion)Location: AntibesKnown during her highly secretive build as Project Omar, the 156-meter yacht was launched at Lurssen facility in 2015. She became Russian billionaire Alisher Usmanov's third yacht and the third yacht to bear the same name Dilbar, after the businessman’s mother.With her gross tonnage of 15,917 tons, she has officially become the world's largest yacht by volume.Diblar boasts exterior design by Espen Oeino and interior styling by Andrew Winch. Dilbar features a combined 3,800 square meters of living space, being able to host up to 40 guests and a crew of 80.#3. Rising SunBuilder: Lurssen (2004)LOA: 138mOwner: David Geffen ($8.3 billion)Location: CannesRising Sun was built by Lurssen in 2004, with the design of Jon Bannenberg. David Geffen, a billionaire with a net worth of $6 billion, co-owned Rising Sun along with Larry Ellison from 2004, before he bought it in 2010. Being one of the largest yachts in the world, it costed $200 million to build Rising Sun, according to some reports.#4. Sailing Yacht ABuilder: Nobiskrug (2017)LOA: 143mAndrey Melnichenko ($12.9 billion)Location: headed to AntibesThe yacht delivered in 2017 features masts stunningly taller than Big Ben. With the height of nearly 100 meters, S/Y A boasts over 12,600 GT of interior volume, just 3,100 less than Dilbar, the most voluminous yacht in the world. By this measurement, she's also 4.6 times larger than the largest sailing yacht in the world, the 108-meter Black Pearl.The yacht powered by twin MTU engines of 4,827 HP each, is projected to reach her top speed at 20 knots without using her sails and feature cruising speed of 16 knots under transatlantic range of 5,320 nautical miles.#5. Bravo EugeniaBuilder: Oceanco (2018)LOA: 109mOwner: Jerry Jones ($6.8 billion)Location: MonacoBravo Eugenia had been technically launched in 2017 and delivered in 2018 to her reported owner, US billionaire and owner of the Dallas Cowboys NFL franchise, Jerry Jones. The latter is estimated at $6,9 billion. Meanwhile, Dallas Cowboys acquired by Jones for $150,000,000 in 1989, currently worth $5 billion.Designed by Nuvolari Lenard with naval architecture by Lateral Naval Architects, the yacht claims to be the first to feature a LIFE (Lengthened, Innovative, Fuel Efficient, Eco Friendly) design.The 109-meter's interior was created by Reymond Langton, with an expected over 4,000GT of volume stretching across a 16,3-meter beam. Powered by a hybrid propulsion system, the yacht is capable of reaching a top speed of 17,5 knots.#6. Al RayaBuilder: Lurssen (2008)LOA: 110mOwner: Bahrain Royal FamilyLocation: AntibesFamously built as Dilbar, the 110-meter Lurssen was renamed to Ona by Russian billionaire, Alisher Usmanov, when the new, 156-meter Dilbar was delivered in 2016 and became the largest yacht in the world by gross tonnage. First listed for sale at the end of 2016 asking €250 million, Ona was later no longer publicly marketed for sale. Earlier this year, her name was changed to Raya presumably by a new owner although the yacht remains berthed at the same location in Monaco.#7. Quantum Blue Builder: Lurssen (2014)LOA: 104mOwner: Sergei Galitsky ($3.5 billion)Location: Currently cruising Côte d'AzurBuilt in 2014, Quantum Blue was designed by Tim Heywood and Alberto Pinto. She has a length of 104m, a beam of 16.8m and a draft of 4m. The yacht's alluring amenities include a spa with a pool, a lift, helipad, beach club, gym and movie theatre. With a maximum speed of 22 knots, she can cruise at 13 knots.#8. LionheartBuilder: Benetti (2016)LOA: 90mOwner: Philip Green ($3.6 billion)Location: MonacoThis custom mega yacht was built by Benetti in 2016 as the yard's flagship and the largest vessel, keeping the status until the recent launch of three 100m+ gigayachts.Stefano Natucci collaborated with Benetti on the exterior design, while Green & Mingarelli Design was responsible for the interior design. Lionheart has a sporty aggressive look, with a large beach club and side-opening doors for easy launching of the tenders. The yacht provides a wide range of amenities including an outdoor bar and ample space for sunlounging and relaxing. She can accommodate up to 12 guests, the cabins with private balconies on the main deck are a notable addition and will offer great sea views. Also, guests can enjoy open Jacuzzi, spa and barbeque and helipad.Featured with interior volume of 2,990 GT and a beam of 14.4 metres, the yacht boasts maximum speed of 18 knots with cruising speed of 16 knots.#9. Lady LaraBuilder: Lurssen (2015)LOA: 91mOwner: Alexander Machkevitch ($2.4 billion)Location: headed to AntibesBuilt by Lurssen in 2015, the yacht features the exterior and interior design from Reymond Langton. Lady Lara's alluring amenities include VIP suites with fold down balconies, a large beach club, a gym, Jacuzzi, a swimming pool and a helipad.The yacht features feminine elegance when viewed at a distance, thanks to her sweeping curves and elegant proportions that allow her masculine details to emerge. #10. Maltese FalconBuilder: Perini Navi (2006)LOA: 88mOwner: Elena AmbrosiadouLocation: headed to AntibesMaltese Falcon is an iconic yacht that had held the title of the world’s largest sailing yacht until Oceanco launched the Black Pearl in 2017.Commissioned in 2000 by Tom Perkins, the late venture capitalist, the Maltese Falcon took nearly six years to complete. Sold to hedge fund manager Elena Ambrosiadou at an asking price of €70 million in 2009, the 88-meter is now one of the largest yachts available for charter with a rate starting from €360,000 per week.Maltese Falcon’ most innovative attribute became her sails that could rotate based on the direction of the wind. This was a first for the yachting industry. This innovative system allows the yacht to even sail against the wind. Maltese Falcon features a cruising speed of 16 knots. Meanwhile, in a storm in the Gulf of Lion, France she demonstrated a speed of 26 knots under sail alone.Designed by Ken Freivokh, the Maltese Falcon was extensively refurbished in 2015/2016 during a refit. She can accommodate up to 12 guests on-board.
Billionaire's 95m superyacht Kismet spotted in Saint Petersburg
The 95-metre luxury motor yacht Kismet built by Lurssen in 2014 was spotted in Saint-Petersburg these days. According to Marinetraffic.com, the yacht spent one day at the shores of Saint-Petersburg on May 15, and today arrived to Tallin. Kismet is owned by Shadid Khan, Pakistani-American billionaire and business tycoon, the owner of the Fulham FC and Jacksonville Jaguars, belonging on the list of the largest superyachts of sports teams owners. The net worth of Mr. Khan is estimated at $6.6 billion (Forbes). Meanwhile, Kismet boasts a symbolic jaguar on the bow, representing the owner’s team. Stretching over five decks, the yacht was designed by Espen Oeino with corporate entertainment and charter in mind, thus suitable for parties of up to 270 guests. The charter price of the vessel starts from € 1,200,000 per week.Copyright: Oleg Zoloto via Komsomolskaya PravdaAmong innovative features on-board, Kismet boasts video walls, extending up to two decks high, able to show regular television but programmed to display high-definition moving artwork. A large swimming pool and Jacuzzi area, spa zone, movie theatre, an outdoor fireplace and winter garden can be found among the yacht’s luxury amenities.The yacht’s entertainment and design characteristics have been attracting top artists and events. For example, Jay-Z and Beyonce were spotted on-board last year, while Netflix filmed Kismet in party scene from its biggest production so far, "Six Underground".
Maltese Falcon heritage: 80m futuristic sailing yacht project Vela
Italian designer Gianmarco Cardia, the awarded Young Designer of The Year 2018, has introduced his new concept, 80-metre superyacht project Vela. The vessel features an impressive sail plan and cinema projectors for watching movies on sails.With her name translated from Italian as ‘sail’, the vessel boasts a massive 1,875-square-metre sail plan, also complemented by a hybrid engine. The sails are mounted on two stately DynaRig masts, reminding of the 2006 Perini Navi Maltese Falcon, with their weight centred midships.With her steel hull with soft sleek lines and aluminium superstructure, Vila’s spacious outdoor areas will ensure all sorts of recreation and relaxation activities for her owners and guests.Vila is trademarked with a water-level beach club with a bar and another bar with sunbeds on the main deck. The yacht’s entertaining package also comprises a gym and a spa zone, beauty salon, two pools and a wine cellar. Next to the latter, there is entrance to the spiral staircase and glass elevator, connecting the main-deck saloon with dining area and a private conference room.Still, one of the yacht’s peculiar design features is an outdoor cinema lounge on the sundeck, where guests can lounge on requisite sunbeds while watching movies projected on the sails of the front mast.Meanwhile, an additional cinema lays in the upper-deck lounge along with a piano bar.Vela would house up to 10 guests within four guest cabins and a master suite with fold-down balconies and its own hot tub on the main deck. The accommodation for up to 16 crew members will also be provided on the lower deck within eight cabins.The yacht’s entertaining package also comprises a gym and a spa zone, beauty salon, two pools and a wine cellar. Next to the latter, there is entrance to the spiral staircase and glass elevator, connecting the main-deck saloon with dining area and a private conference room.The interior features earthy colours and minimalistic design creating a sense of space and freedom. The choice of the colour palette was inspired by the villas on the coast of Sardinia, the designer’s homeland.Although the vessel’s hull has not been engineered yet, Cardia believes his Project Vela will be capable of a top speed of 21 knots under sail and engine propulsion working together.The “Young Designer of the Year Award” is held annually by media Boat International. This year's winner meanwhile debuted with 80m superyacht concept Manta.
65m Feadship superyacht concept Silence with plastic removal system on-board
Dutch builder Feadship has revealed a new 65-metre super yacht concept named Silence, right ahead of the opening ceremony of new Amsterdam facility, that will be held by Her Majesty Queen Máxima.The vessel with a beam of 12 metres will be built on a steel hull and aluminium superstructure. The design project meanwhile was developed with a female American client in mind, capable to “facilitate partying by day, becoming zen by day.”Silence’ key exterior features comprise a hanging pool aft, supported by a glass structural pillar in the centre. Then, a stage for dancing and sunbathing, accompanied by a spacious beach club would sit below. The yacht will also be fitted with a touch-and-go helicopter landing pad forward, a hydroponic garden and crow’s nest.Thanks to Silence’ tender lift platform system, the passengers will be able to board tenders while they are still on the platform, lowering them down into the water safely without the need of a crane.Indoor attractions comprise a spa, main deck bar and underwater lounge. Furthermore, Silence will come equipped with a significant eco feature that would be deployed to remove plastic from the sea when the yacht is afloat. Special stores beneath the lower deck will be used to store plastic until it can be disposed of at shore.The yacht will have accommodation capacity for up to 12 guests within four double guest staterooms and a full beam-VIP on the lower deck, along with a master suite fitted with a spa pool on a private deck. In addition, crew capacity on-board amounts to a staff of 18.Silence will be powered to a top speed of 16 knots, along with cruising speed of 14 knots and a range of 5,000 nautical miles while at 12 knots.Images: Feadship.

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