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Isle of Man Ship Registry now takes yachts with ownership structures in Monaco or Switzerland

April 29, 2013

The Isle of Man Ship Registry is now taking yachts with ownerships structures in Monaco or Switzerland as a result of legislative changes approved by its parliament, Tynwald, this week. This represents a strategic move related to superyachts, which was brought about in answer to requests by the yachting industry on the Isle of Man seeing large potential for new business opportunities thanks to these changes.

The latest regulations extends the list of qualified owners already approved, to include citizens, bodies corporate incorporated in Monaco or Switzerland, or limited partnerships with their principal place of business in Monaco or Switzerland, as persons who are qualified to be the owners of Manx ships.

Mr Alex Downie, OBE, MLC, the political member with responsibility for shipping, said “I am delighted to have been able to establish regulations to extend our ownership criteria to include the important financial centres of Monaco and Switzerland. The private sector yacht management companies on the Island see great potential in this latest move and I hope to see more yachts financed in these countries flying the Manx ensign in the future”.

Dick Welsh, director of the Isle of Man Ship Registry said “This a very useful piece of legislation and a great example of the public/private partnership which exists in the Isle of Man. When the list was last changed in 2009, these countries were overlooked in terms of ownership structures but we have since received many enquiries for both ships and yachts with ownership structures which were unable to accept. The private sector worked with us to ensure that business opportunities are not lost and I’m happy that the door is now open for Monaco and Switzerland.”

New Yacht Tax Regulations in Croatia

March 11, 2013

There are around 10,000 vessels registered with Croatian customs, according to the nautical industry. On 1st July 2013, Croatia will become a member of the European Union and EU yacht owners based in Croatia will be forced to put their vessels into free circulation. In order to do this, owners must pay the customs duties as well as VAT as defined by the EU Customs Union – set at a rate of 25% (from 1st June).

Porto Montenegro Marina situated in the beautiful Mediterranean yacht charter destination - Montenegro, providing particularly favourable import regulations and lower fixed tax rates

Porto Montenegro Marina situated in the beautiful Mediterranean yacht charter destination - Montenegro, providing particularly favourable import regulations and lower fixed tax rates

In response to these changes, and considering the high number of yachts in the country, the Croatian government have been forced to incentivise yachts to stay and are currently putting temporarily admitted yachts into free circulation at a reduced tax rate of 5%. However, this rate is due to expire on the 31st May and requires the yacht to be entered in Croatian registers and placed under the Croatian flag.

This is good news for those who have already paid their customs duty prior to Croatia joining the EU, these vessels will automatically acquire the status of Community goods (EU goods) as of 1st July. Those vessels that do decide to stay in Croatia face extensive paperwork in order to pass import customs clearance and entry into the Croatian Register. It can take up to twenty days to gather all the necessary documentation required to register one boat.

As the summer season gets closer owners have been left questioning where they should register their vessels, and which flag it is most beneficial to sail under. In making these vital decisions the dominant consideration is cost, with many looking to register their vessel wherever it is cheapest. For some, particularly charters, countries outside of the EU pose attractive benefits in terms of tax and import regulations. Montenegro’s yacht-friendly legislation for example offers particularly favourable import regulations, lower fixed tax rates on purchases and income, as well as tax and duty free fuel.

These cost advantages combined with yacht-friendly legislation suggest the second half of 2013 will likely see an exodus of boats into outside EU waters.

Government to reveal marine export strategy at London Boat Show 2013

January 14, 2013

Today, Business Minister Michael Fallon is to unveil a joint Government and industry plan to bolster British marine exports and reinforce the competitiveness of UK businesses at the Tullett Prebon London Boat Show. The minister – also Co-Chair of the Marine Industries Leadership Council – will outline what challenges face the industry and the steps to be taken to help businesses capitalise on emerging markets.

London Boat Show - Photo onEdition

London Boat Show - Photo onEdition

1    The strategy is being led by UK Trade & Investment, and lays the foundations for a long-term strategic vision for the future of the British marine industry.

2    The British marine industry currently contributes approximately £19 billion per year to the UK economy. This is predicted to grow to around £25 billion by 2020.

The government’s economic policy objective is to achieve ‘strong, sustainable and balanced growth that is more evenly shared across the country and between industries’. It set four ambitions in the ‘Plan for Growth’ (PDF 1.7MB), published at Budget 2011:
•    To create the most competitive tax system in the G20
•    To make the UK the best place in Europe to start, finance and grow a business
•    To encourage investment and exports as a route to a more balanced economy
•    To create a more educated workforce that is the most flexible in Europe.

Work is underway across government to achieve these ambitions, including progress on more than 250 measures as part of the Growth Review. Developing an Industrial Strategy gives new impetus to this work by providing businesses, investors and the public with more clarity about the long-term direction in which the government wants the economy to travel.

Jamaica introduces single annual yacht fee

December 28, 2012

As announced by the Minister with responsibility for Information Senator Sandrea Falconer, Jamaica’s custom duty and user fee, environment levy and General Consumption Tax (GCT) on yachts registered in Jamaica will be replaced by a single annual fee, as approved by the Cabinet. The announcement has taken place on the 19th December at the weekly Jamaica House press briefing at the Office of the Prime Minister in Kingston.

For the first two years after being landed, yachts under 25ft in length are not required to pay registration or safety inspection fees.  An introduction of a cruising permit fee has also been approved by the cabinet, under the shipping Act. This is required to be paid by visiting foreign-registered yachts.

The minister said that this decision has been made to stimulate the local maritime tourism and yacht registration in Jamaica, as out of the thousand yacht berthed in Jamaica only about eight percent are registered under the Jamaican flag.

Recent recreational anchoring ban in new Prohibited Areas amended

December 17, 2012

The Boating Industry Association of Victoria (BIAV) President Andrew Warner is delighted to report that Maritime Safety Director, Mr Peter Corcoran as well as the Victorian Coalition Government have taken steps to rectify the recent recreational vessel anchoring ban.

On Friday 14th December Mr Corcoran used powers granted under the Marine Safety Act 2010 to amend waterway rule 23B and therefore remove an unintended consequence for recreational boaters. The amendment was published in the Victoria Government Gazette No. S 437 and has been published on the Transport Safety Victoria website.

The effect of this amendment is to reduce the scope of Rule 23B and return the prohibition on anchoring recreational vessels to that which existed before July 1st 2012.

This is a great outcome for recreational boating and furthers the BIAV confidence in the Maritime Safety Directors use of broadened powers now afforded by the Marine Safety Act 2010.

While the Boating Industry Association of Victoria remains on watch for unintended consequences for recreational boaters, Andrew Warner would like to remind everyone spending summer on the water this year to keep a proper watch and stay well clear of big ships.

New strategy for the Adriatic and Ionian Seas presented by the European Commission

December 14, 2012

The new maritime strategy for the Adriatic as well as Ionian Seas has been launched by the European Commission. This will strengthen smart, sustainable and inclusive growth in the region.

A popular yacht charter destination - the Adriatic Sea

A popular yacht charter destination - the Adriatic Sea

The strategy rests on 4 pillars: a stronger blue economy, a healthier marine environment, a safer maritime space, and responsible fishing activities. It builds on the Commission’s Blue Growth initiative and on the “Limassol Declaration on a marine and maritime agenda for growth and jobs”, recently adopted by EU Ministers. The vision behind the initiative: making the sea a central space of innovation, economic opportunities and prosperity for all the countries around it.

Commissioner for Maritime Affairs and Fisheries Maria Damanaki comments: “Given the European perspective of Western Balkan countries, the movement of people, goods and services through the Adriatic and Ionian Seas is bound to increase. Preserving the marine habitats and ensuring the sustainable development of the region will be challenging – and it is a challenge that we need to prepare for. I look forward to the input of all interested parties on this and to developing together a detailed plan for future action”.

While recognizing the work already carried out by various organisations in the area, the new strategy underlines the need to step up cooperation. It will use existing resources, structures and regulations to foster cross-border partnerships and mobilize local, regional and national actors towards common objectives. The first initiative of this kind in the Mediterranean sea basin, the strategy will help develop the sea basin´s blue economy by coordinating financing and delivery mechanisms.

Some priority areas have been identified, for example:

- Stimulating the creation of maritime clusters and research networks as well as formulating a research strategy to spur innovation;

- Increasing skills and mobility of the workforce, with greater transparency of qualifications;

- Optimising transport links by developing an integrated, demand-based, low-carbon maritime transportation network across the region, with special attention to island connectivity;

- Supporting the sustainable development of coastal and maritime tourism, with emphasis on innovation and common marketing strategies and products;

- Creating new jobs and business opportunities in aquaculture through research and innovation;

- Reducing marine litter and improving waste management in coastal areas;

- Modernising fishing activities through better compliance, conservation, transfer of information and cooperation on enforcement and control;

The strategy will be implemented in 2013 through an Action Plan to be jointly developed with the region’s stakeholders. The Commission therefore calls on all equity parties – at national, regional, and local level – to propose concrete actions. This follows a series of workshops for a wide array of participants which were hosted by Greece, Italy and Slovenia in the course 2012.

The new strategy is part of the overall Integrated Maritime Policy of the EU, which already includes maritime strategies for the Baltic and the Atlantic Seas. It could be the first building block of a wider macro-regional strategy that the Adriatic and Ionian countries are willing to develop.

Croatia and the Commission have jointly launched the strategy on December 6th at a conference in Zagreb.

Background

The Adriatic Sea and the contiguous Ionian Sea are an important maritime and marine area in Europe, though quite diverse in economic, environmental and cultural terms. Economic and social interactions between countries and regions have been historically dense, and are now made even stronger by the EU accession process of Western Balkan countries.

The existing maritime links, however, do not fulfil the mobility needs of citizens, businesses and tourists. And despite the rich maritime tradition and knowledge, innovation is driving the maritime economy only slowly forward. Furthermore, marine and coastal ecosystems face numerous environmental challenges as well as increasing urbanisation and traffic. Climate change and its impacts pose mounting threats to coastal areas.

Severe Penalties for Recreational Vessel Operators for Anchoring in new Prohibited Areas

December 13, 2012

Representing the recreational and light commercial boating industry in Victoria, the Boating Industry Association of Victoria Incorporated (BIAV) is a not for profit organisation as well as the peak body. The BIAV offers a voice on behalf of the recreational boating community and marine based businesses. The Association also integrates the industry.

bialogo

The BIAV today issued an urgent warning to Victorian recreational vessel operators that the Marine Safety Act 2010 contains a new definition of waters now prohibited to recreational vessel anchoring.

“Recreational vessel operators need to be aware that they are now prohibited from anchoring in any channel, anchorage, fairway or navigable waters that are usually used by vessels over 50m in length for navigation through an area,” said BIAV President Andrew Warner.

“The really unjust part of this is that these newly prohibited areas are not necessarily marked by navigation beacons and only some are clearly marked on navigation charts.

“Transport Safety Victoria and Port of Melbourne websites are still promoting that it’s not an offence for recreational vessel operators to anchor in these newly prohibited areas.

“Advice from the Minster for Ports, Hon Denis Napthine is that the new situation is an oversight causing unintended consequences but that recreational boat operators will continue to be subject to heavy penalty infringements in the new prohibited anchoring areas.

“This situation is intolerable with the snapper and summer boating season already underway and is made more so by the Victorian Coalition Government’s refusal to publicly warn recreational vessel operators of the new prohibited anchoring areas,” said Andrew Warner.

The BIAV now calls on the Victorian Coalition Government to publicly clarify the situation and detail how this unfair oversight is being remedied, immediately halt the fining of recreational boaters in new areas prohibited to anchoring and to require Transport Safety Victoria and Port of Melbourne Corporation to issue interim statements on their websites that correctly inform recreational vessel operators of the new areas prohibited to anchor.

Assembly Bill 2005 encouraging California Superyacht Tourism signed

October 15, 2012

Last month saw Governor Jerry Brown sign a legislation introduced by a coalition of San Diego superyacht businesses led by Vice President Todd Roberts of Marine Group Boat Works and championed by Assemblyman Martin Garrick. Assembly Bill 2005 will improve commerce by facilitating bureaucratic regulations for large recreational vessels entering California harbours.

Assembly Bill 2005 encouraging California Superyacht Tourism signed

Assembly Bill 2005 encouraging California Superyacht Tourism signed

“Our coastal cities and towns rely on tourism, and AB 2005 will make it much easier for California to roll out the welcome mat. With the America’s Cup already underway we can expect an influx of large private yachts visiting California. My legislation will ensure those recreational and tourism dollars will be spent here rather than ports in Mexico or neighboring states,” said Garrick.

Under current law, non-commercial vessels greater than 300 tons have to comply with onerous and costly reporting requirements prior to entering California waters. Assembly Bill 2005 maintains the reporting requirement but allows vessels an expanded timeframe for compliance.

“As a small business owner, it’s refreshing to see action being taken on legislations that benefit the economy. It’s even more refreshing to see lawmakers work with businesses rather than creating barriers for their growth,” said Ann Kinner, owner of Seabreeze Books and Charts in San Diego. Kinner played a key role in introducing Roberts as a marine industry expert for Garrick to source.

Roberts, a California Maritime Academy graduate, oversees two superyacht facilities in San Diego – Marine Group Boat Works, a refit facility with the capacity to lift and service vessels up to 220 feet, and Fifth Avenue Landing, a boutique marina located downtown. Roberts, among brokers, marina managers, yacht agents and other professionals in the San Diego yachting industry, worked together to take legislative action.

“Don’t underestimate the power of our political system. This is a prime example of how important and effective it can be to know your local politicians and to write those letters of support,” said Roberts.

Roberts worked closely with Garrick to get the bill approved. During Senate hearings, Roberts pointed out that incoming superyachts would bypass California often and stopped to resupply in Mexico, Washington or Oregon instead. Yacht owners would rather avoid California than to deal with the state’s burdensome and time consuming reporting requirements.

“We see firsthand how a yacht impacts our local economy. In the last three years, Marine Group Boat Works spent an average of $7 million on materials and services within a 15 mile radius of our facility, so you can see how port visits for fuel, food, supplies, services, accommodations and repairs can easily translate to millions of dollars,” said Roberts. “For a yacht owner to be deterred by state regulations is detrimental to our economy.”

According to an economic impact study conducted in 2002 for the Marine Industries Association of South Florida, a trade group based in Fort Lauderdale, and the Broward Alliance, a public/private economic development organization, for every $1 spent on yacht repairs, another $7 goes into the local economy, as owners and crews seek hotel rooms, restaurants, shopping and entertainment during the repair process, which can take anywhere from a few days to more than a year, depending on the scale of the project.

The revenue potential for local coffers is huge, as yacht owners can expect to spend at least 10 percent of the vessel’s purchase price in routine maintenance. For Florida’s Miami-Dade, Palm Beach and Broward Counties, superyacht owners contributed more than $576 million to the local economy.

“I worked with various state agencies, boating enthusiasts and industry representatives for several months to craft a measure that would maintain environmental safeguards but create a more efficient and realistic reporting timeframe. I believe AB 2005 will greatly benefit our local economy and California as a whole,” said Garrick.

The 4th ICOMIA Global Environmental Legislation Guide

October 05, 2012

The fourth edition of Global Environmental Legislation Guide has been recently presented by ICOMIA, the International Council of Marine Industry Associations.

ICOMIA-logo

The Guide is updated regularly to provide readers with the very latest environmental information from the recreational boating industry and is available in the ICOMIA Online Library. The fourth edition of the guide features the latest environmental legislation available as of August 2012, with additions/amendments highlighted in red. The Guide is divided into the following regions and/or continents and international organisations:

I. Australia/Asia

II. EU

III. US

IV. International organisations: IMO and ISO

V. UN convention on biological diversity

VI. International rules related to “styrene”

VII. International approach regarding noise/sound and underwater noise

Members of ICOMIA, and their members, have free access to the ICOMIA Global Environmental Legislation Guide as a part of their membership. The Guide is available to non-members as a 12-month subscription for €300.

To subscribe to the ICOMIA Global Environmental Legislation Guide, to become a member of ICOMIA or to find out more, it is advised to visit ICOMIA’s website.

Inserve Yachts receives safety management system approval

July 24, 2012

Inserve Yachts Ltd announced that its safety management system has been approved by the Cayman Island Shipping Registry, following its assessment. Passenger yachts are those carrying up to 36 passengers as defined by the Red Ensign Group Code of Practice for Yachts carrying from 13 to 36 Passengers (The Passenger Yacht Code or 13-36 Code).

Inserve yachts

Inserve Yachts


Inserve Yachts already holds a Document of Compliance (DOC) and currently supports seven yachts of between 50 and 90 metres; these are able to carry up to 12 passengers. In granting this approval, CISR acknowledges that Inserve Yachts has the capabilities, practical experience, staff and knowledge to now provide similar support to this larger capacity category of vessels. Inserve Yachts is one of just a few companies based in the UK who have acquired such recognition.

In addition to this approval, Inserve Yachts is authorised to issue navigational and engine room watch rating certificates for crew members on all yachts under the company’s management.

These certificates are acceptable on both Cayman and UK flag vessels. Inserve Yachts is also an approved test centre for the Cayman LAP (Law and Administrative Procedures) examination. These authorisations are further evidence of the confidence that CISR has in the Inserve Yachts management team.

Since it was established in 2007, Inserve Yachts has drawn on its background and extensive knowledge working on both commercial vessels and a number of superyachts and megayachts. Strategically positioned close to and with good relations with Lloyds Register, MCA and Cayman Islands Shipping Registry, Inserve Yachts can quickly and efficiently react to any regulatory issues that may arise.

Inserve Yachts believes that these latest advancements add to its existing professional and personal approach to the support of large yachts.

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