YACHT “PHI” – Continuing Detention on Canary Wharf
Having unsuccessfully applied to the High Court and subsequently the Court of Appeal for the release of the vessel the Supreme Court has now given the Owners permission to appeal to the Supreme Court. The Appeal has been listed for a two day Hearing in January. Coincidentally a rather interesting article about seized superyachts appeared in the Financial Times on Saturday 20th July. A copy of the article can be found at:- https://on.ft.com/3Y7m3JX
PHI completes maiden voyage
Royal Huisman's new 58.5 metre superyacht, PHI has completed its maiden voyage to London on Friday, December. The superyacht features unique exterior accent lighting powered by lasers, has accommodation for 12 guests and 11 crew, and has it's own dedicated support vessel, PHI Phantom, which was delivered last month. More information can be found on Boat International's website.
Newsletter - 2021
We shall not be attending the Cannes and Monaco Yacht Shows this September. The logisticalhurdles due to C.19 and the associated uncertainties have led us, reluctantly, to this decision.We have attended every one of these shows for in excess of ten years and shall miss renewing oldacquaintances and making new ones. On the other hand the liver will be much relieved.
BREXIT AND YACHT VAT ISSUES
BREXIT AND VAT. The uncertainty continues aided and abetted by some ill informed commentary in our press. While the EU/HMRC jury is out on some issues owners can plan for 2021. Questions abound concerning the continuing VAT paid status of yachts located in the UK and the new "EU27" after 31st December, and transits between the two territories thereafter. Yacht registration and associated VAT issues are very much our world. So if you or your customers have any queries please feel free to get in touch, either by e mail to [email protected]. or by phone to +44 (0)1728 745344 or + 44 (0)7770 655306.
Malta yacht leasing structure - New Guidelines 2019
As a consequence of the UE infringement proceedings against various EU states, including Malta, the Malta VAT Department has issued new guidelines for a revisited, even new, Yacht Leasing Structure. The new Structure concentrates on the EU place of supply rules for goods (including yachts) as a result the EU has withdrawn their proceedings.
Brexit - Yacht Ownership, Yacht Registration and VAT
There is a lot of uncertainty as to how BREXIT will evolve and what effect it will have on the yachting industry generally and yacht ownership in particular. Ward & McKenzie are at the forefront of Intra EU issues relating to yacht ownership and, in particular, VAT. We have extensive and highly experienced Experts in each of the relevant jurisdictions so if you have any queries at all about your yacht or your intended purchase please contact Ian Collett on 0044 1728 745344.
Newsletter - 2019
It seems very strange not to be visiting the London Boat Show. Having had a busy Autumn at the Cannes and Monaco Yacht Shows the absence of LBS leaves a bit of a gap pending Dusseldorf. The gap has, to an extent, been filled by the Superyacht Investor Conference. Let me know if any of you have time for a meeting at any of the forthcoming events.
The secret life of superyacht valuations | Superyacht Investor
Banks and financers are almost invariably needed to help the super-rich buy superyachts. No matter how deep your pockets are, you are unlikely to purchase a yacht without assistance. Being a billionaire does not necessarily equate to having, say, $30 million dollars sitting in your current account. With the eye-watering figures involved in buying superyachts it is no wonder banks are keen to ensure the risk of lending is minimised. The key is knowing the true valuation of the vessel. The lender could go to the brokerage selling a vessel, but how impartial would the price truly be when the broker is incentivised? The answer is to turn to a valuation expert – an independent marine surveyor. “Banks want to make sure the loan-to-value ratio is realistic compared with their customer’s expectation,” says Sir Ian Collett, director of Ward & McKenzie Superyacht Consulting. Read more...
Newsletter - Spring 2018
Over the last few months I attended the London Boat Show (the last one) which seemed to go pretty well, had a very interesting couple of days in Malta at the Opportunities in Super Yachts Conference and more recently a highly successful Palma Super Yacht Show and the London In Water Show.
Newsletter - Winter 2017
During the course of this year we have attended various Conferences and Seminars and also the Cannes, Southampton and Monaco Yacht Shows. As ever it was interesting to see a number of "our" yachts at MYS including "Bliss" and "St David".
Newsletter - Summer 2017
During the course of this year we have attended various Yachting Conferences and Seminars and also attended the London, Southampton and Palma Yacht Shows.
Newsletter - Autumn 2016
During the course of this year we have attended Yachting Conferences and Seminars in Barcelona and in Monaco and also attended the Palma, Southhamoton, Cannes and Monaco Yacht Shows.
Summer News - June 2016
The last six months have been very busy. Chris has just finished giving expert evidence in Finland in an Arbitration with Nautor Swan. He was also heavily involved in the issues concerning the loss of the recently salvaged Polina Star III. On a happier note we have recently been involved the purchase and sale of several yachts over 40 metres. Ian has attended various conferences and boat shows including trips to Barcelona and Palma, and the London Prestige Yacht car and Aircraft show. Malta Commercial registration and their Leasing Scheme keep us busy. Charter registration in Spain likewise. We now have the Brexit decision to challenge us!
Newsletter - Spring 2016
Since our Autumn edition we have had a number of interesting and time consuming technical investigations, including a high profile loss of an Oyster yacht and new build issues relating to a large Swan sailing yacht and Princess motor yacht. A busy Expert Witness season approaches!
Newsletter - February 2016
Since our Autumn edition we have had a number of interesting and time consuming technical investigations, including a high profile loss of an Oyster yacht and new build issues relating to a large Swan sailing yacht and Princess motor yacht. A busy Expert Witness season approaches!
Newsletter - Autumn 2015
Post Monaco Yacht Show 2015 I first attended MYS some ten years ago. W&M were just breaking into the larger yacht market. But Superyachts - No way! It was therefore with not inconsiderable pride that I observed six yachts moored alongside in the show that we have either surveyed or managed the build of during the course of the last 12 months. The yachts were between 30 - 50m. Who would have thought it!?
Welcome to our new Superyacht Consulting website
As far as News is concerned we can best start with a review of what has been a very interesting and busy 2015. On the Survey front we have inspected some very large yachts including a “Classic” 100m, an Italian built 134m, the largest Sunseeker and several other yachts in the 30 – 60m range. As far as New Builds/Refits are concerned we had our first job at the prestigious Feadship yard and are supervising the refit of 37m yacht closer to home in Southampton. Of particular interest have been investigations into the loss of an Oyster 825, foundering of a CNB 50 and trying to resolve New Build disputes in respect of a large Dutch built motor yacht and a 90’ sailing yacht. Underwriters also continue to keep us busy.
