NEWSFLASH!
Case Study - Alpha Z33 - USA to Monaco
The Alpha Z 33 was the brainchild of Jeff Jones and his wife Carolyn, both successfull property developers, then living near Lake Tahoe, USA. Their previous design, the Alpha Z 23, commonly known as the 'White Boat', had received international acclaim. However,priced at $60,000 back in 1992, she had proved too expensive even for the then embryonic superyacht industry. The fact that with a 75mph top speed they were probably beyond most owners capabilities may have restricted the appeal.
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Commercial Yacht Arrested in Italy.
Arrow was recently made aware of the arrest and heavy penalties levied against a Cayman Flagged commercial vessel in Livorno Italy recently (March 2010).
The vessel is IOM Owned and acquired via an intra-community acquisition.
Based on the facts the outcome of the court is surprising and our initial understanding is that the decision will be challenged, a process that will take a long time, potentially years. We do not see this as an issue related to an IOM company owning a commercial vessel but rather the registration. The implications are that non-EU flagged commercial vessel cannot charter in Italy. Please note that an IOM Flag is considered by the Italians as NON -EU.
To provide some comfort for the coming season we suggest that for commercial yachts with contacts covering Italy it would be prudent consider to re-registration in the UK, Malta or possibly Luxembourg.
If you or your clients with non EU flagged commercial vessels have commitments to charter in Italy this summer our team of yacht registration experts and surveyors are available to help in resolving their problem . Given our relationship with both UK and Malta Yacht Registries we are well qualified to assist in quickly re-registering any vessel.

Crew Employment.
The impending introduction of the Maritime Labour Convention ("MLC") will have a huge impact on the yachting industry. The MLC is a consolidation of several existing laws and amounts to a Charter for Crew Employment covering amongst many matters hours of work, accommodation and in particular social protection for crew members. MLC will effect all yacht owners of commercial vessels and for those over 500 GRT MLC Certification will be required. Arrow have been investigating the impact of this legislation and have been appointed representatives of Cornerstone Crew Management Limited ("CCM") a specialist in crew employment and related issues. For yacht owners concerned at the implications of the MLC we suggest a call to our office will help clarify the potential risks and cost to employers and the solutions available.
Purchasing a new vessel.- Caveat Emptor Purchasing a new vessel in a market full of financial uncertainties requires careful consideration. With several major builders failing the exposure of the purchaser to risk is now an increasing consideration. Any decision to purchase should be based on detailed research and information on the builder ensuring that the contract provides comfort that the yacht can be delivered. We recommend that the contracts should be reviewed by a lawyer and our team can review the specifications prior to signature and if required provide a project manager to supervise the construction and delivery of the vessel. Finally the impact of VAT is too often neglected in the purchasing process until just prior to delivery often resulting in a solution that is more expensive than necessary and again this is where the Arrow team will add value.