Pendennis - 44m Catamaran

Pendennis to work on "world's largest cruising catamaran"

The 44m (144ft) Hemisphere, described as the world's largest cruising catamaran, has arrived in Falmouth, UK, to have its final fit-out undertaken by Pendennis Shipyard. The transport of the yacht on a container ship from the US was overseen by Peters & May. The yacht was offloaded at Port Pendennis Marina prior to her moving to the shipyard's covered dry dock.

Hemisphere will be the first craft to use the newly extended cover over the whole of the 150m (492ft) length of the dock compared with 75m (246ft) previously. This extension is part of an expansion project that also includes a new shed, boosting capacity for refit work in the yard. It is not known how long work on Hemisphere will take.

Among the reasons the final fit-out is being handled by Pendennis is the strong impression of quality for such work gained by the owner and captain of the yacht. To maintain this, Pendennis has recently taken on 22 new apprentices so that it now has some 50 in the yard out of a total workforce of 300. These include 12 general apprentices and 10 surface finishers.

Pendennis has been working with apprentices for 10 years and is currently being featured in a UK national radio and press advertising campaign for the National Apprenticeship Service.


Superyacht Business / David Robinson, 28 October 2009

New York Court UAE Ruling

New York court dismisses UAE as America's Cup venue

By IBI Magazine

The New York Supreme Court yesterday ruled that Société Nautique de Genève (SNG) cannot hold the America's Cup in Ras Al Khaimah, UAE. SNG, the yacht club representing Cup Defender Alinghi, had announced the emirate as the venue several months ago. But its challenger, BMW/Oracle, objected in court. The Swiss syndicate has already transported their boat to the emirate and started to train.

Justice Shirley Kornreich said that the February 2010 event must take place in a venue in the Southern Hemisphere as per a strict reading of the competition's governing document, the Deed of Gift, or in Valencia, Spain, where the last America's Cup was held.

"This is a disappointing result as we were certain that Justice Cahn's May 2008 decision allowed the Defender to chose Valencia or 'any other location'," said Lucien Masmejan, Société Nautique de Genève (SNG) legal counsel, in a statement. "We are satisfied, however, as Justice Kornreich confirmed that the Deed of Gift Match will be conducted under SNG rules as she had already ruled in a previous court order."

Golden Gate Yacht Club (GGYC), which represents BMW/Oracle, said it was "pleased" with the ruling. GGYC said the judge will rule later this week on two additional issues, including SNG's selection of umpires. "Justice Kornreich understands the need for a fair and impartial jury," said the GGYC statement."Our position is that the sailing jury must have the normal powers to adjudicate."

But an earlier GGYC statement was more direct. "SNG says it has the right to change the rules for the America's Cup races at any time and select all the umpires. It's like letting the Phillies change the rules for the World Series after it starts and select all the umpires," said David Boies, GGYC's attorney.

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(28 October 2009)

America's Cup Latest

America's Cup legal feud continues

By IBI Magazine

The America's Cup entered new legal waters yesterday, reaching what one analyst calls a "new low point" for the 158-year-old sailing event. Golden Gate Yacht Club (GGYC) filed a "breach of fiduciary suit" against the Societe Nautique de Geneve (SNG) in New York state court, seeking to have SNG removed as America's Cup trustee.

The filing is the latest in the two-year legal battle between America's cup Defender Alinghi, represented by yacht club SNG, and BMW/Oracle, represented by GGYC.

In the lawsuit GGYC asked the court to replace SNG as America's Cup trustee with a "faithful, fit and proper substitute" to oversee the next America's Cup match, scheduled for February 2010.

"A new Trustee would provide equitable terms for both competitors, something SNG has denied GGYC by its orchestration and manipulation of the rules and processes designed to ensure that the defending sailing team, Alinghi, cannot lose," said a GGYC statement.

The suit alleges that Alinghi chief Ernesto Bertarelli is using the America's Cup for financial gains. Among other charges, it said that Bertarelli is using America's Cup hosting rights to extract "secret" commercial deals and that choosing Ras Al Khaimah, UAE, as the venue for the 33rd Cup will "further its own business interests whilst exposing GGYC to unnecessary danger." GGYC has filed a separate lawsuit against SNG over the UAE venue.

"The oldest international trophy in sport is now in peril because of the selfish and self-serving acts of the Swiss yacht club, its representative sailing team Alinghi, America's Cup management (both controlled by Ernesto Bertarelli) and other affiliates," read the statement.

In its own statement, SNG said that GGYC is trying to win the America's Cup "in court instead of on the water".

The Swiss club noted that this is the eighth legal action in two years. "After failing in their attempts to circumvent the terms set in the governing Deed of Gift, Ellison is now seeking to snatch the Cup from Société Nautique de Genève (SNG) with a new round of baseless allegations," said Fred Meyer, SNG vice commodore, in the statement.

Barry Ostrager, lead attorney for SNG, called the filing a "PR stunt" in the statement. "There is nothing in the complaint that hasn't been the subject of prior or pending legal proceedings," said Ostrager. "Basically, GGYC doesn't want to race SNG on the water after it disenfranchised 19 other clubs from competing in an elimination series."

Noted America's Cup reporter Richard Gladwell, writing for Sail World NZ, said the motion is "unprecedented in the history of the America's Cup, and is a new low-point for what used to be the premier trophy in sailing."

"The 20-page Motion is fairly damning, and covers a number of points that have been publicly vented over the past two years," added Gladwell. "It also goes back into alleged property and financial dealings by Bertarelli family interests linked to the America's Cup — covering both Valencia and Ras al-Khaimah."

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(27 October 2009)

Princess Yachts - Funding

Princess receives support from Lloyds TSB

By IBI Magazine

Following the news earlier this year that Princess Yachts is to begin building a new range of tri-deck cruising yachts over 30m (100ft) in length, the UK boatbuilder today revealed that it is receiving "financial guidance and support" from Lloyds TSB Corporate Markets on various international trade issues.

Princess is currently working on the design and manufacture of its new M Class series, the Princess 32m (105ft) and Princess 40m (130ft), at its newly acquired site at Devonport Dockyard, Plymouth. The two yachts will be Princess Yachts' first-ever, tri-deck models, and were designed to meet customer demands for increasingly larger, high-performance vessels.

"The development of these latest models represents a real milestone for Princess Yachts and we're delighted to have the support of Lloyds TSB," says Princess finance director Ian Duffin. "We have a very good working relationship with the bank and value having a strong local team, led by Andy Wilton, which works in partnership with us, providing expert advice and solutions that match our needs."

Lloyds TSB Corporate Markets provides financial banking and advisory services to businesses and organisations with a turnover of £15m and above.

Princess Yachts generated annual sales of around £206.6m in 2008, up from £195.6m during the previous year. The company traditionally builds flybridge and V-Class motoryachts from 13m (44ft) and up.

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(22 October 2009)

Princess Yachts top 250

Princess yachts breaks into The Sunday Times HSBC Top Track 250

By IBI Magazine

Princess Yachts based in Plymouth in the South West of England has broken into the top 250 British companies, as re-veiled by The Sunday Times HSBC Top Track 250 annual league table.

The table is compiled from the turnover of each company as shown in the latest published accounts available. For Princess Yachts, this figure rose from £195.6m in 2007 to £206.6m in 2008, pushing the company into the top 250 for the first time.

Chris Gates, managing director of Princess Yachts, says, "The results for 2008 follow our upward trend over a number of years, as Princess Yachts continues to grow in home and international markets".

Princess has recently invested into new facilities to build its M Class yachts to over 30m (100ft).

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(12 October 2009)

'New Airport' to threaten Thames Sailing

UK Sailing under Airport Threat

Britain's second most popular sailing area - after the Solent - is under threat of being covered in concrete as London's Mayor, Boris Johnson, battles on with his plans for Heathrow-on-Sea.
Oil-rich sheikhs from Kuwait, Qatar and the United Arab Emirates are reported to be interested in investing £40 billion in Johnson's dream to replace the UK's major airport with runways in the Thames Estuary.


Deputy Mayor, Kit Malthouse, said the new 24-hours-a-day airport could be up and running within 10 years and plans show it would dwarf the area now occupied by Heathrow. A feasibility plan - to be published soon - will include two artificial islands holding six runways linked to terminals on the mainland by tunnels, and bridges.
Shuttle trains would carry passengers onto the existing, over-congested commuter rail-lines running from Shoeburyness, and Southend-on-Sea to London's Fenchurch Street and Liverpool Street and from Minster and Sittingbourne to St Pancras.

The areas under threat include the Rivers Roach, Crouch, Thames, Swale and Medway as well as rare wetlands in Kent and Essex

IBI Magazine

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The Boat & Caravan Show, Birmingham

Leading Outdoor Leisure Show to change its name

By IBI Magazine

Now in its 49th year The National Boat Caravan and Outdoor Show held annually in Birmingham UK is to be re-branded as The Boat and Caravan Show. According to organisers Ocean Media the new identity reflects a significant growth in size and coverage of the show across all outdoor leisure markets.

A good sign for the re-branded show is that 80 per cent of the exhibition space has already been sold with six months to go before the show is due to start. Not bad, considering the show covers all five halls of the NEC arena in Birmingham, UK.

Boat and Caravan 2010 will take place from February 23-28, 2010.

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(6 October 2009)

Business Opportunity - Thames

BUSINESS OPPORTUNITY: SERVING THE LOWER LEA AND OLYMPIC RIVERS

British Waterways and London Thames Gateway Development Corporation are looking for a business partner to manage a new boat base: Limehouse Quay.

The successful partner will develop and manage a new water-based leisure destination in the heart of east London, with the potential to run boat services to the Olympic Park during the 2012 Games.

With a lease of up to 25 years, you will be responsible for procuring commercial boats to fill the Quay and will be able to build effective partnerships with commercial, educational, community and leisure organisations.

We would also like to hear from community and commercial leisure boat operators who would like to move their operation to Limehouse Quay or work with the manager of the Quay to give this part of London a new vibrancy and attract new visitors to the river.

To express your interest and find out more about the plans for Limehouse Quay please visit our website: www.britishwaterways.co.uk/limehousequay

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UK superyacht builders to pool resources?

Devonport Yachts, the former Babcock Marine superyacht newbuild brand, continues its task to find a new location to construct such vessels. In trying to achieve this objective, three-way discussions involving Devonport Yachts, Pendennis Shipyard and its neighbour A&P Group have been held. Pendennis is a successful newbuild and refit company while A&P carries out commercial ship repair using three dry docks next to the 150m (492ft) dock owned by Pendennis. Devonport Yachts had planned a press briefing at Monaco but this was cancelled as plans have not progressed as far as was hoped for.

In a statement, Toby Allies, sales and marketing director at Pendennis said: "The Devonport brand has been acquired by its previous management and they naturally approached Pendennis, as well as a number of other businesses we suspect, to house the brand and continue large yacht building. We have no further announcement to make at this stage but we are certainly pleased with the interest and focus generated on Falmouth as the UK's premier superyacht building and refit base - something which we remain fully committed to seeing succeed."

Pendennis for its part is busy with both newbuild and refit work plus further expansion. In build is a Barracuda 32m (105ft) sailing yacht and a Ron Holland 46m (150ft) ketch. Refit work is underway or planned on five yachts including a 50m (164ft) Feadship and a 55m (180ft) yacht. The expansion includes a 75m (246ft) cover for the portion of its 150m (492ft) dry dock not yet covered and a 55m x 17m x 16m (180ft x 56ft x 52ft) shed which is suitable for both refits and newbuild completion. Pendennis also has waterfront space that is has acquired to use as a hard standing.

The involvement of A&P is interesting in that much of the Pendennis site is being used for its own current workload. If Devonport came to Falmouth, then more space and an additional drydock might be needed.


Superyacht Business / David Robinson, 30 September 2009

America's Cup challenger opposes UAE venue

By IBI Magazine

Just two days after the high-tech catamaran belonging to America's Cup Defender Alinghi arrived in Ras al Khaimah, UAE, venue for the next Cup, Challenger BMW Oracle has asked a New York court to change the location. BMW Oracle cited "grave safety concerns" because of the emirate's geographical proximity to Iran.

BMW Oracle, under its sponsor Golden Gate Yacht Club (GGYC), has asked the New York Supreme Court to instead mandate Valencia, Spain, site of the last America's Cup, as the next venue. "Under the America's Cup Deed of Gift, for a match in February the Defender, Société Nautique de Geneve (Alinghi's yacht club) cannot select a Northern Hemisphere location without GGYC's mutual consent," read the statement. "GGYC has consistently reminded SNG that, without our mutual consent, any other venue they select would have to be fully compliant with the Deed of Gift. The only exception is Valencia, which the court's April 7, 2009 decision expressly permits."

BMW Oracle sent a representative to Ras al Khaimah to inspect the venue. "It was clear that the RAK venue fails on every key measure necessary for a successful America's Cup, including: lack of infrastructure, security and wind." The statement said a territorial dispute between the UAE and Iran over nearby islands also adds to security concerns.

"The choice of RAK underscores SNG's abject failure in its responsibilities as Trustee of the America's Cup," said Russell Coutts, skipper and CEO of GGYC's BMW Oracle Racing team. "It seems that the Defender is prepared to go to any lengths to make this America's Cup a travesty."

Alinghi called BMW Oracle's latest motion in the ongoing lawsuit "further proof of their unsportsmanlike behaviour". A statement from Brad Butterworth, Alinghi skipper, said training would continue in Ras al Khaimah for the America's Cup match for the next four months.

"We believe this lawsuit is yet another tactic employed by Larry Ellison and BMW Oracle to avoid racing us for the Cup on the water," said Butterworth in the statement.

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(2 October 2009)