stormy seas for the world’s largest yacht
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Stormy seas for the world’s largest yacht

Arab Today, arab today

Arab Today, arab today Stormy seas for the world’s largest yacht

A large yacht floats in the bay of Gibraltar after being seized. Authorities in Gibraltar say they
London - Arab Today

 The world’s largest sailing yacht has been impounded in Gibraltar over claims that its billionaire Russian owner owes the shipbuilder €15.3m (Dh59.3 million).

The Gibraltar Port Authority impounded the €400m “Sailing Yacht A” as it was on its way to be delivered to industrialist Andrey Melnichenko, following a legal filing from the German shipbuilder that constructed the futuristic-looking vessel.

The 143m-long Bermuda-registered yacht, which has three masts taller than Big Ben’s clock tower, left the Kiel shipyard of superyacht builder Nobiskrug two weeks ago to conduct final sea trials before being handed over to Melnichenko. But on Wednesday two Gibraltarian “ship keepers” took control of the Philippe Starck designed yacht, which is longer than 13 London buses and features a helipad, on-board swimming pool, and underwater observation pod.

Gibraltar Admiralty marshal Liam Yeats, said: “The vessel is under arrest and is currently at anchor in British Gibraltar Territorial Waters.”

“In the volatile world of shipping, particularly in the recent economic downturn, disputes and defaults are an unfortunate fact of life,” the Gibraltar Port Authority says on its website. “[Ship arrest] isn’t an attractive proposition, and clearly it’s an action of last resort but, when handled efficiently and swiftly, it can at least deliver a safe resolution to a dispute and bring matters to a close.

Court papers show Nobiskrug is seeking an outstanding payment of €9.8m, as well as €5.5m for subcontractors and interest charges. The claims are made against Valla Yachts Ltd, the Bermuda company to which the yacht is registered.

Relations between Melnichenko and the shipbuilders appears to have soured rapidly since the ship left the Nobiskrug yard. Upon its debut the shipbuilder’s managing director, Holger Kahl, said: “Born from the desire of the owner to ‘push the boundaries of engineering and challenge the status quo of the industry’, Sailing Yacht A is undoubtedly one of the most visionary projects Nobiskrug has ever been involved in.”

A spokesman for Melnichenko, who controls a $13.2 billion fertiliser and coal fortune, said the shipbuilder’s decision to file court papers for the yacht to be impounded was “an astounding act for a shipbuilder of Nobiskrug’s standing”.

“The facts are that with a project of this magnitude there are sometimes outstanding issues to be resolved,” the spokesman told YachtHarbour.com. “We assumed the matter was progressing to a resolution as Nobiskrug were happy to release the yacht on 5 February to the owner’s project team for further works to be carried out in Spain. The money was paid by the owner the following day into an escrow account pending a resolution of the discussions. All monies now being claimed are in arbitration and we understand these disputes fall under arbitration in the UK courts.”

The spokesman later said “a technical problem” was being resolved and said the ship would be released in a few days and the “unpleasant episode” would be over.

As the vessel made its way to Spain earlier this month, Melnichenko’s project director, Dirk Kloosterman, who also helped build Larry Ellison’s Rising Sun and Melnichenko’s previous superyacht “Motor Yacht A”, said: “This has been the most challenging assignment of my career. I am confident Sailing Yacht A will be the world’s greatest yacht in terms of design and technology for the years ahead.

“Her beauty is breathtaking, and Philippe Starck’s astonishing design and ultimate vision will be the subject of many conversations wherever she travels around the globe. We look forward to the final delivery to the owner.”

Melnichenko is said to have chosen to name his yachts “A” so that they appear first in shipping registers. Sailing Yacht A, which requires 54 crew to operate, has eight decks connected by several lifts, and is capable of achieving speeds of 35 knots downwind.

The unique carbon fibre masts can withstand 90 knots of wind with full sail up, the equivalent to a category 2 hurricane or hanging two double-decker buses from each tip

source : gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

stormy seas for the world’s largest yacht stormy seas for the world’s largest yacht

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

stormy seas for the world’s largest yacht stormy seas for the world’s largest yacht

 



GMT 15:36 2017 Monday ,09 January

Major EU-GCC meeting in Riyadh today

GMT 17:19 2016 Thursday ,22 December

KFMC surgeons remove 28 kg tumor from woman’s uterus

GMT 17:33 2017 Wednesday ,16 August

Damac reports decline in property development sales

GMT 09:16 2018 Monday ,01 January

Seoul leaning towards military measures

GMT 01:05 2017 Wednesday ,20 December

No guarantees on French-German initiative on Ukraine

GMT 21:00 2017 Sunday ,17 September

Saif bin Zayed approves adoption of 'Emirati Reader'

GMT 02:10 2017 Thursday ,05 January

Bahrain Stock Index Drops 3.47 Points

GMT 02:05 2017 Thursday ,28 September

July24th-August23rd

GMT 04:17 2017 Saturday ,11 November

Laulala out to prove All Blacks worth against France

GMT 02:42 2017 Friday ,14 July

NATO Tripoli strike kills civilians

GMT 05:47 2017 Wednesday ,18 January

Mohamed bin Zayed attends opening of ADSW 2017

GMT 05:40 2016 Saturday ,26 November

Oil falls 2% on OPEC cut uncertainty

GMT 16:48 2016 Tuesday ,11 October

Greek police escort refugee children to school

GMT 09:42 2017 Saturday ,12 August

Prince Charles Promoted to Highest Military Rank

GMT 13:07 2017 Monday ,25 September

Iran blocks all Iraqi Kurdistan flights
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday