Cayman Islands

Electrical Fire Destroys $3.9 Million Yacht

The engine room fire aboard a yacht was likely caused by an electric source within the sound enclosure for the starboard generators, the National Transportation Safety Board said Thursday.Marine Investigation Report 22/16 details the NTSB’s investigation of the March 16, 2021, engine room fire aboard the yacht La Dolce Vita while anchored near Marquesas Keys in the Gulf of Mexico. The crew unsuccessfully attempted to extinguish the fire. The crew of four and two passengers on board abandoned the yacht into the vessel’s tender boat. They were then assisted by two U.S. Coast Guard boats.

Italy Seizes Luxury Yacht Scheherazade Linked to Putin

The Italian government ordered police on Friday to impound a luxury yacht worth some $700 million that has been linked in the media to Russian President Vladimir Putin.The sleek, six-deck Scheherazade had been undergoing repairs in the Italian port of Marina di Carrara since September, but recent activity at the dockside suggested that the crew might be preparing to put to sea.A source with direct knowledge of a weeks-long investigation into the vessel said police believed the owner was Eduard Khudainatov, the former chief of Russian energy giant Rosneft who is not currently a target of EU sanctions.In a statement announcing the seizure order…

Russian Oligarch Deripaska's Yacht Arrives in Turkish Waters

A yacht linked to Russian aluminum tycoon Oleg Deripaska arrived in a bay near the southwestern Turkish resort of Gocek on Saturday, as more Russian billionaires head for Turkey to flee Western sanctions over Russia's invasion of Ukraine.Deripaska, founder of Russian aluminum giant Rusal, has been sanctioned by the United States, European Union and Britain. He has previously called for peace.A Reuters witness saw the 73-metre (239.5 foot) yacht Clio arrive off the coast of Gocek in the Aegean coastal province of Mugla on Saturday.

Spain Detains Yacht Thought to Be Owned by Rosneft CEO

Spanish authorities on Wednesday detained a mega-yacht called "Crescent" that is believed to belong to Igor Sechin, the sanctioned chief executive of Russian oil giant Rosneft, a police source told Reuters.The 135-metre-long yacht, described by specialist publications as one of the biggest in the world, sails under a Cayman Islands flag and arrived in Spain from Italy in November 2021, according to monitoring site Marine Traffic.Spain's Transport Ministry, which confirmed the detention but not the ownership, said it docked…

France Seizes Yacht Reportedly Belonging to Rosneft Boss Sechin

French customs have seized a yacht belonging to Rosneft boss Igor Sechin as it tried to leave the Mediterranean port of La Ciotat in a breach of EU sanctions on Russian oligarchs, Finance Minister Bruno Le Maire said.The move came as western states are implementing massive sanctions, including asset freezes, against Russia for invading its neighbor Ukraine. A separate nearly $600 million luxury yacht owned by Russian billionaire Alisher Usmanov has also been seized, by German authorities, Forbes reported. The 88-meter "Amore Vero" arrived in La Ciotat on Jan.3 and was due to stay there until April 1st for repairs…

Brokers network at Bahia Mar Yachting Center

Seeing stunning yachts in person creates excitement, inspiring new journeys and itineraries, even for the most seasoned brokers. That’s the goal of the yacht hop organized by International Yacht Broker Association (IYBA), a broker’s open house at Bahia Mar Yachting Center in Fort Lauderdale. Held on the third Thursday of each month, the catered event brings yacht brokers and industry insiders together to view, inspect and discuss some of the best brokerage vessels available for…

Superyacht Returns to the Water after Major Overhaul

Southampton, U.K. headquartered ship repairer and marine engineering services provider, SMS, has launched the classic superyacht MY Alicia from its covered 60m dry dock in the heart of the city.Peter Morton, the CEO of The SMS Group comments: “Today’s launch is a major positive milestone in another huge refit project for The SMS Group, all our colleagues and all our suppliers. It’s big, big news. As a company we are genuinely thrilled to have had the inspiration and support of another truly exceptional British businessman…

Seized Superyacht Linked to 1MDB Probe Arrives in Malaysia

A $250 million superyacht, impounded as part of a hunt for assets linked to the multi-billion dollar investigation into 1Malaysia Development Bhd, arrived at a port in Malaysia on Tuesday about six months after it was seized.The Cayman Islands-flagged Equanimity was first seized in the Indonesian holiday venue of Bali in February at the request of U.S. authorities investigating 1MDB.The Malaysian state fund is at the center of money-laundering probes in at least six countries, including the United States, Switzerland and Singapore.

Luxury Yacht Seized in Money Laundering Probe

Indonesian police on Thursday questioned the captain and crew of a luxury yacht in Bali at the request of U.S. authorities, probing alleged money laundering at a Malaysian state fund, they said. The yacht was impounded in Bali on Wednesday amid a multi-billion dollar corruption investigation launched by the U.S. Department of Justice (DOJ) and tied to Malaysian state fund 1Malaysia Development Berhad (1MDB). Police seized the yacht, Equanimity, after receiving a letter on Feb. 21 from the U.S.

New Recreation Submersible Dives Deep

Triton Submarines LLC, a builder of personal submarines designed for yacht deployment, has launched a new submersible designed to dive to ocean depths of 6,600 feet, transporting passengers deeper than other models in its range. Announcing the new submersible was Triton Submarines CEO L. Bruce Jones, who unveiled plans for the new Triton 6600/2 at a press conference held at the Fort Lauderdale International Boat Show on November 6. “We are excited about this new deep-diving acrylic-hulled sub that will dive twice as deep as our 3300 series submersibles,” Jones said.

Dart Realty Relaunches the Cayman Islands Yacht Club

Dart Realty (Cayman) Ltd. has officially relaunched the Cayman Islands Yacht Club, part of the North Sound boating experience that boasts daily traffic of more than 700 boat owners and passengers. The Yacht Club is the primary gateway from the Seven Mile Beach tourism district to Cayman's top natural attraction, Stingray City, and North Wall diving and snorkeling. With the renovations, the Yacht Club is prepared for the heavy crowds of tourists during high season. To mark the completion of the $7 million marina redevelopment…

Oceanco Delivers Superyacht Equanimity

The etymology of the word equanimity derives from the Latin aequus meaning balanced and animus meaning spirit or internal state. The concept of equanimity—internal balance— is both profound and refined. Oceanco’s newly delivered 91.5-m Equanimity is aptly named; from her exterior to her interior to her inner core, she is perfectly well balanced. Equanimity (Y709) has the distinction of being the industry’s first superyacht designed and built to be fully Passenger Yacht Code (PYC) compliant. The owners look forward to extensive world travel aboard their distinctive luxury vessel.

New Oceanco PYC Superyacht on Cayman Islands Registry

The Maritime Authority of the Cayman Islands (MACI) says that Netherlands-based shipbuilder, Oceanco, recently launched 'Equanimity', the first superyacht of its kind, with regulatory oversight from the Cayman Islands Shipping Registry. The new superyacht measures 91.5 metres in length, and is the first to be designed and built to the Passenger Yacht Code (PYC). Being a certified passenger yacht means it can accommodate more passengers, in this case, sleeping 26 guests and 28 crew. Oceanco worked with design team Azure Naval Architecture…