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
September 18, 2018
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.”
September 20, 2018
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.
September 17, 2018
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.
September 19, 2018
Port Vauban in Antibes is shining a spotlight on its major redevelopment and unique long-term berth acquisition opportunities through a newly released promotional film.The French Riviera has long been a focal point of the yachting community in the Mediterranean, if not the world, and Antibes – located centrally between luxurious Monaco and festive St Tropez – is the beating heart of yachting on the French Riviera. One of the oldest port towns in Europe, Antibes can trace its roots back to before the Roman Empire, and it has held a position of nautical significance for millennia. With such history and heritage comes an unmistakeable cachet regarding the ownership of berths in this region.Being Europe’s largest leisure port, Antibes’ Port Vauban is now setting out its store as the future of yachting in the Mediterranean, illustrated through a newly released promotional film. Thanks to the redevelopment plans of Vauban 21, which recently acquired the prestigious Port Vauban operation, a unique new opportunity in the region to acquire long-term berths of up to 23 years’ duration is available to yacht owners of vessels from several metres up to over 170 metres.Port Vauban is a perennially popular location in which to base a yacht, offering convenience to yacht owners, guests and charterers, as well as captains and crew. Unlike the facilities available at other popular marinas on the Riviera, Port Vauban’s centrally located helipad provides instant access to the region’s key spots. It is just a two-minute flight to Nice Airport, delivering expedient international travel for yacht owners and guests.The port is a short car transfer or walk to some of the Riviera’s most celebrated and coveted social spots, from the quaint local restaurants of Antibes Old Town to the charming and historic Belle Rive Hotel to the high-society hangout of the Hotel du Cap Eden Roc.Port Vauban’s new promotional film also highlights the modernisation and redevelopment plans for the marina and its facilities, including a brand-new harbourmaster’s office with gourmet restaurants, as well as the Port Centre, which will be a hub for the local community as well as an exposition space and yachting campus. There will be a number of additional state-of-the-art security measures implemented across the site in the coming months, and guests will be given access to a fleet of golf carts to improve mobility around Port Vauban and the town.Antibes is a longstanding service hub for yachting companies and a convenient location for crew operations when not in guest mode. In addition to being easy to access from across Europe, Port Vauban is a year-round location for maintenance and operations. To bolster crew motivation, reduce turnover and a promote healthy lifestyle, a programme of activities targeted at crew will operate throughout the year, including the winter season.As one of the only marinas offering long-term contracts in the region, Port Vauban’s offering is truly unique for the French Riviera. Some 800 berths are now available to acquire through new right-of-use contracts of up to 23-years’ duration, including 17 long-term berths for sale between 60 and 100-plus metres (two having just been sold).Alongside the winter crew program, Port Vauban is now offering new winter berthing packages designed to deliver convenience and practicality to superyachts of 40 to 170 metres throughout the low season, from November to the end of April. This includes shorter minimum booking periods, the ability to carry out winter maintenance onsite (including provision of space for a container on the dock adjacent to the yacht) and the cheapest consumable rates in the Mediterranean.“We are excited to present our new offering at Port Vauban through this appealing promotional film. With limited availability of long-term berths between St Tropez and Monaco, and a redevelopment plan that will make our facilities unmatched in the region, we are certain that Port Vauban is the future of yachting not just on the French Riviera but for the whole of the Mediterranean,” said Eric de Saintdo, Chief Commercial and Marketing Officer.Port Vauban is Europe’s leading marina in terms of volume, with 1,642 berths including 19 superyacht slips along the renowned IYCA, also known as “Billionaires’ Quay”. The port is conveniently located in the heart of the French Riviera, between Monaco and St Tropez and a short distance by water or road from Cannes, giving it an ideal position to be the capital of yachting in the Mediterranean.With deep-water access, the IYCA’s berths are available for vessels from 60 to 170 metres in length, with a low-tide draft of seven metres across the entire basin. All berths on the IYCA are equipped with appropriate shore power for large superyachts and a conveniently located helipad is available for guests of vessels on the quay. The IYCA is ISPS Code compliant and has restricted access with 24/7 security surveillance.Within Port Vauban there is a fuelling station next to the central capitainerie, and all yachts in the port are provided with high-speed broadband internet access as well as shore power and free pump-out of black and grey water. The port is currently monitored by 20 CCTV units, with plans for an additional 165 cameras to be installed, and there is onsite security covering the entire port.In 2017, Port Vauban was acquired by a triparty association and is now operated as part of the Riviera Ports network, which also runs marinas in Antibes-Juan Les Pins, Cannes, Nice and Golfe Juan. Under the new ownership structure, a large-scale redevelopment project is being carried out through Vauban 21 project, which will see an investment of 135 million euros over the next 24 years. The project will comprise a complete regeneration of the port’s facilities and amenities including a new capitainerie, restaurant and yacht club. There are also plans for an expansion of Port Vauban’s refit and maintenance shipyard infrastructure as well as installation of a 2,000m2 yachting campus for training courses, seminars and conferences.The current consignment of contracts that Port Vauban Antibes has for yachts of all sizes is due to expire on 31 December 2021. Consequently, the Port Vauban team is in the process of revising its layout and signing new berth contracts, which will come into effect on 1 January 2022. The contracts will have a 24-year term maximum with guarantee of use, and are available to new as well as existing clients.Approximately 800 berths are currently for sale, including 300 for yachts from 20 to 170 metres. As one of the only ports in the region offering long-term leases of this nature, it provides owners with a unique opportunity to secure a premium berth and enjoy the best yachting location in the Mediterranean.
September 19, 2018