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...
News & Insights
Malta Social Security Rates 2023
EU Regulation 883/2004 states that seafarers who are either citizens or residents of the EU/EEA or Switzerland and, who are employed on board a vessel flying the Malta flag, must be insured under Malta’s Social Security system. For non-EU citizens/residents, there is...
Shipyard Works – Beware the spider’s web of contractual obligations, liabilities and insurance cover
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...
Crew Quarantine – What We’ve Learned
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...
Keeping Crew Safe and Alert: Latest Crew Rest Regulations from Cayman
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...
Sarnia Yachts welcomes Shinkai to the fleet
Named “Shinkai” which means “Deep Sea” in Japanese, this recently delivered 55m Feadship ice class explorer yacht is going to see a lot of that on its travels, both above and under the water utilising the various toys stored onboard including tenders, a 4x4 and a...
Looking Back, Moving Forward – 2021 Reflections
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...
Shipyard Works – Handle with Care!
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,...
Bespoke Yacht Accounting Services added to the Sarnia Yachts Portfolio
Yacht Accounting is becoming an ever more complex element of Sarnia Yachts’ range of services offered to its clients and Owners. Gone are the days when yacht accounting consisted of simply paying yacht expenses for an Owner. Yacht Owners, Owner’s representatives and...