Spring Yacht Newsletter
March 2020
Superyacht Marinas Remain Open Amid Coronavirus Fears
The coronavirus pandemic  may be shutting down  some ports of call for cruise ships , but it's not stopping luxury yacht marinas from staying open. No marinas have yet to be closed to yacht charters, Stefanos Makrymichalos, CEO of  superyacht firm IYC , told Business Insider. The major difference between cruise ports and marinas here is the average passenger count each sees hitting the docks on a daily basis. There are upwards of 12,000-plus cruise passengers traveling through major cruise ports a day, Makrymichalos said, while yachts on average host only four to 30 passengers. "If you are passing by other guests in a marina it's outdoors, whereas cruise ship terminals and luggage pick up is indoors," he said, adding that there are also more regulations for commercial vessels than private ones. "Ports of entry for ships are being monitored while marinas are not, as there is no evidence of risk." (Source: Business Insider) Continue Reading
Top 5 Superyachts Launched in 2020
The beginning of 2020 was marked by the launch of many large yachts. [This] article will cover 5 major superyachts ranging in size from 99 to 63 meters.
  1. 99m Moonrise yacht by Feadship
  2. 80m Bilgin by Bilgin Yachts
  3. 73m Project 705 by Feadship
  4. 68m Soaring by Abeking & Rasmussen
  5. 62.5m Limited Editions by Amels
(Source: Yacht Harbour) Continue Reading
BVIs is Now Offering Duty-Free Fuel to Megayachts
The British Virgin Islands (BVIs) government wants more megayachts, and of course more megayacht guests, to visit. Therefore, the BVIs is now offering duty-free fuel if you cruise among its islands . According to a report by BVInews.com, the government decided to amend its customs regulations with immediate effect in early December. It did so as part of the 2020 fiscal year budget. As long as your yacht remains in the territory for a minimum of three days, you can take advantage of the cost savings. “This will be a step in the right direction towards encouraging megayachts to make the BVI their home port,” says Andrew Fahie, the premier of the BVIs. (Source: MegaYacht News) Continue Reading
The Impending Threat of IMO Tier III Regulations to Sub-500GT Yachts
There has already been a huge impact on the sub-500gt sector from the  IMO Tier III regulations  that will come into place in January 2021. In advance of the full feature on this matter in our upcoming issue of  The Superyacht Shipyards Report , Carlo Ighina – R&D Head Officer for  Azimut Benetti Group , spoke exclusively to SuperyachtNews about the current situation, as the prolific builder fortifies its production proposition in preparation for the imminent regulations. (Source: Superyacht News) Continue Reading
Ways Superyachts Are Becoming More Environmentally Friendly
There's no doubt that superyachts seamlessly allow unreal getaways to exotic locations at the drop of a hat. For some, there's a very slight issue with this, though - superyachts, being the burly, extravagant beasts that they are, are quite dependent on fuel. Lots of fuel. This intense fuel usage obviously conflicts with rapidly developing ideals related to environmentalism, so what's an environmentally-conscious yacht owner to do? Thankfully, makers of superyachts are investing heavily into more environmentally-friendly vessel design in accordance with evolving needs. In this blog we cover a few ways that superyachts are syncing up with our greener future. (Source: Latin Post) Continue Reading
The Changing Face of Commercial Yachting
Last year the EU Commission issued the kind of invitation you can’t refuse to France and Italy urging them to review current schemes for reducing VAT on charter fees. The Commission’s drive to ensure regulations are applied across the board reflects a hardening approach towards ‘creative’ work-arounds. The VAT rules themselves have not changed. Under EU law, VAT is due only on services performed in the EU, not on services outside the EU territory and waters. This means that cruising in international waters will continue not be subject to VAT. Lump sums reduction schemes however are in the crosshairs and will be discontinued as of spring 2020. (Source: Superyacht News) Continue Reading
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