Clipper Oil: Winter 2021 Yacht Newsletter

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Winter Yacht Newsletter

February 2021

Superyacht Sales Surge Sees 2020 Break Brokerage Records

An explosion of brokerage activity in late 2020 resulted in December becoming the second strongest single month for brokerage sales since 2009, according to BOAT Pro data. The month racked up a total of 57 sales, eclipsing the 42 recorded in December 2019 and the 38 recorded in 2018. The only month that has recorded a stronger sales performance since 2009 was May 2017, which recorded a total of 59 sales. In fact, figures show that the second half of 2020 was the best six months for brokerage sales since 2009, while the fourth quarter of the year was also the best on record.

A total of 280 yachts were sold from July to December, eclipsing the 235 sold during the same period in 2019 and 233 sold in the latter half of 2018. When looking at the year as a whole, 2020 managed to outperform 2019 with a total of 409 sales against 406.

(Source: Boat International) Continue Reading

Superyacht Chartering in the Age of COVID-19

Many superyacht charters are fixed under the MYBA’s (Mediterranean Yacht Broker Association’s) standard charterparty wording - the “MYBA Standard Charter” - which is subject to English law and London arbitration unless otherwise agreed. Yet following the imposition of widespread national lockdowns and international travel restrictions from the start of 2020, many owners and charterers were unable to fulfil their respective charterparty obligations. The question that invariably arose was whether they were entitled to cancel the contract under the terms of the MYBA Standard Charter and, if so, what the financial and other consequences should be.

Much of the recent commentary has focused on the “force majeure” provisions of the MYBA Standard Charter and how they apply to COVID-19 delays. Under English law, “force majeure” can be invoked on the basis of specific contractual terms detailing cases in which owners and charterers can be excused for not performing their contractual obligations and, in some cases, entitled to cancel the contract.

(Source: Superyacht News) Continue Reading

How Yacht Builders Are Tackling the Issue of Sustainability

The demand for more eco-friendly practices is currently sweeping across all industries globally. So it perhaps comes as no surprise that shipyards are getting in on the eco-friendly action. Shipyards and builders aren’t only looking to implement more sustainable designs on the yachts they’re building, but also within the yards themselves.

Whether it’s driven by an ethical, reputational or even economic mindset, showing a willingness to be more ‘green’ is essential for modern-day yacht building. However, this is often easier said than done. So, because actions speak louder than words, we investigated what tangible changes some of the industry’s most influential players are making in-house to nurture a more sustainable industry.

(Source: Superyacht Times) Continue Reading

Porto Montenegro Will Host Superyacht Winter Games 2021

Porto Montenegro presents the third annual Superyacht Winter Games.

The adventure follows the legend of Ivo Nikolić, the only prisoner to have successfully escaped a late 18th century prison camp in Gornja Lastva. Sailing safely out of Boka Bay to freedom, he left behind not only his epic tale, but also a number of handwritten letters. Participants will embark on a mission to solve a series of mental and strategic challenges, using Nikolić’s letters as a guide. A fantastic Montenegrin lunch and awards ceremony will be provided to participants upon completing the mission. The games are sponsored by ACREW.

This year’s programme is organised to ensure safe social distancing, with teams undertaking the various challenges separately and with a maximum of four people per team.

(Source: Yacht Harbour) Continue Reading

Why Caribbean Yacht Charters Are the Ultimate COVID-19 Antidote

Raise your hand if you’re ready to escape the craziness of 2020 and recharge your battery on a large yacht in the Caribbean this winter. Yep, me too.

In fact, since the world has been in various states of Covid 19 lockdown since April, demand for yachts ranging from the largest superyachts to more “affordable” yachts in the 100-foot range has never been higher.

And since many have already had to defer, change or cancel vacation plans due to travel restrictions stemming from the global pandemic, the upcoming winter charter season in the Bahamas and Caribbean is poised to be popular.

(Source: Forbes) Continue Reading

Yachting Industry at Crossroads, Says Association

The Yacht Services Association of Trinidad and Tobago says the industry is at a crossroads as it remains suspended due to the COVID-19 pandemic.

In a statement issued last Thursday (February 4), the group said it has been asking for updates or feedback on concessions for the yachting industry but has not heard anything.

(Source: Loop TT) Continue Reading

Coronavirus: Which Superyacht Events Are Affected?

The ongoing Coronavirus outbreak has forced the cancellation or postponement of a raft of superyachting events. For all the latest developments, please check below…