Commissioning a new yacht can be an exciting time however before signing up to their dream build, prospective owners should step back and consider how best to contract with the shipyard. Security for an owner is critical during the construction of a new yacht, as...
Global private wealth and corporate services provider Praxis has completed the acquisition of Sarnia Yachts. The deal, which was initially announced in mid-May, adds a diverse range of services, including yacht ownership, yacht management, crew management, yacht...
Commissioning a new yacht can be an exciting time however before signing up to their dream build, prospective owners should step back and consider how best to contract with the shipyard. Security for an owner is critical during the construction of a new yacht, as...
Global private wealth and corporate services provider Praxis has completed the acquisition of Sarnia Yachts. The deal, which was initially announced in mid-May, adds a diverse range of services, including yacht ownership, yacht management, crew management, yacht...
As the world becomes more litigious a number of shipyards have changed the way they work, facilitating subcontractors to carry out work, and it’s not always immediately obvious. Instead of a yacht owner contracting directly with the shipyard for all works, some...
The COVID-19 pandemic has had an unprecedented impact on every aspect of the global economy, and particularly the yachting industry which is heavily reliant on the crew employed and air travel to get them to where they need to be. Restrictions around the world are now...
The Cayman Islands Shipping Registry published a Guidance Note this month regarding Seafarer’s Rest and Fitness for Duty. This Guidance Note reiterates the compulsory hours of work and rest as noted in the STCW code. These are generally achievable on larger yachts...
Having been with Sarnia Yachts for 15 years, 2021 was certainly one of the most memorable for a number of reasons, not least because of Covid. The year started with lockdowns and the cancellation of boat shows but there was light at the end of the tunnel with the...
When undertaking shipyard refit works, especially when considering using Inwards Processing Relief to zero rate VAT on works,(often referred to as TPA), owners should take care. The popularity of the TPA process for shipyard works has increased year on year however,...