flag yacht

FLAG Motor yacht for sale

FLAG is a 62.3m (204.4ft) yacht delivered by the renowned Dutch shipyard Feadship, Royal Van Lent in 2000, with exterior design and engineering by De Voogt. Originally built to a Winch Design her interiors were dramatically restyled by Chahan Interior Design. Always meticulously maintained by her four highly experienced owners, she underwent her last major refit in 2012 and was subsequently awarded 'Best Refitted Yacht' at the World Superyacht Awards 2013.

FLAG is a 62.3m (204.4ft) yacht delivered by the renowned Dutch shipyard Feadship, Royal Van Lent in 2000, with exterior design and engineering by De Voogt. Originally built to a Winch Design her interiors were dramatically restyled by Chahan Interior Design. Always meticulously maintained by her four highly experienced owners, she underwent her last major refit in 2012 and was subsequently awarded 'Best Refitted Yacht' at the World Superyacht Awards 2013.

Her elegant interior design is light and welcoming with an abundance of sunlight thanks to large picture windows in both the main and bridge deck lounges. The master cabin on the main deck is full beam with separate his and hers en suite bathrooms and a private study. The remaining six guest cabins on the lower deck are all spacious and well designed with en suite bathroom facilities. In total, this yacht can comfortably sleep up to 18 guests.

A guest elevator is available for easy transportation from the lower deck through to the sun deck. The yacht’s expansive sun deck has a large pool surrounded by sunpads forward, a chef station with BBQ and pizza oven, open air dining and a sun lounge aft. There is more al fresco dining and lounges on the upper deck aft and a large lounge on the main deck aft. Guests will also find a well-equipped gym on the bridge deck.

Two 2,000hp Caterpillar diesel engines give her a top speed of 16 knots and she has a transoceanic range of 6,800nm at 12 knots. Zero speed stabilisers ensure total comfort while at anchor.

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Key features

• Seven spacious cabins offer flexible accommodations for up to 18 guests
• Guest elevator service is available to all decks
• Vast deck areas provide an array of options for entertainment including multiple al fresco dining areas and a large swimming pool on the sun deck
• Light and sophisticated interior with large picture windows offers a welcome atmosphere throughout the yacht
• An impressive transoceanic range of 6,800nm

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EUR 19,500,000† (EU VAT paid)

• Length: 58.2m (190.9ft)
• Guests: 12 guests in 6 cabins
• Built: 2005
• Proteksan Turquoise

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2000   Feadship    204ft  /  62.3m

FLAG Yacht Charter

FLAG is actively available for charter.

The luxury motor yacht FLAG, previously named FORTUNATO, FAITH, was built by Feadship and delivered to her owner in 2000, she later underwent a refit in 2022.

The exterior of FLAG is designed by De Voogt.

The 204ft / 62.3m FLAG has been constructed with a steel hull and is powered by with a cruising speed of 15 knots.

Charter guest accommodation

FLAG has been designed to comfortably accommodate up to 12 charter guests in 6 suites.

The guest cabins comprise a primary suite with a queen size bed and en-suite bathroom facilities and 5 cabins with a double bed and en-suite bathroom facilities.

Your luxury charter crew

Your luxury charter on board motor yacht FLAG will be managed by the crew of 17 including the captain.

The crew will ensure you have a relaxed and enjoyable charter experience with all of your needs catered for while on board.

The 17 crew have their own separate crew quarters allowing guests to enjoy increased levels of privacy.

Amenities & Entertainment

Amenities on board for the charter guests include Air Conditioning, Elevator, Exercise equipment, Light fishing gear, Gym, iPod dock, Jacuzzi on deck, Media movie server, Satellite Communications, Satellite TV, Stabilizers At Anchor and Wi-Fi.

An extensive list of further amenities and water toys can be seen under the features and amenities section.

Yacht charter destinations

FLAG is Currently cruising in the Caribbean.

Sample itineraries for the cruising destinations can be supplied by your professional charter broker allowing you to plan your luxury yacht charter vacation in detail.

• Air Conditioning
• Exercise equipment
• Light fishing gear
• Jacuzzi on deck
• Media movie server
• Satellite Communications
• Satellite TV
• Stabilizers At Anchor
• Inflatable Watertoys
• Jet Ski (standup)
• Paddleboard
• Tube - towable
• Water skis - adult
• Water slide
• Waverunner (Sit Down)
• Windsurfer - Adult

Destinations

Frequently Asked Questions

How much to charter flag.

FLAG has a weekly charter price starting at $448,000 and an estimated daily charter price of $74,700.

How many guests on board FLAG?

FLAG can accommodate 12 sleeping guests on board in 6 cabins.

Where is FLAG currently located?

FLAG was last seen in Bahamas.

Legal Disclaimer

Motor Yacht FLAG is displayed on this page for informational purposes and may not necessarily be available for charter. The yacht details are displayed in good faith and whilst believed to be correct are not guaranteed, please check with your charter broker. Charter Index does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information or images displayed as they may not be current. All yacht details and charter pricing are subject to change without prior notice and are without warranty.

U.S. Customs & Border Protection

The yachting industry has no global listing service to which all charter yachts must subscribe to, making it impossible to ascertain a truly up-to-date view of the market. Charter Index is a news and information service and not always informed when yachts leave the charter market, or when they are recently sold and renamed, it is not always clear if they are still for charter. Whilst we endeavour to maintain accurate information, the existence of a listing on Charter Index should in no way supersede official documentation supplied by the representatives of a yacht.

Specification

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If you have any questions about the FLAG information page below please contact us .

Luxury motor yacht FLAG (ex Faith, Fortunato, Cakewalk) has been beautifully refitted (10 million dollars). She was built to the highest possible standard by Feadship and offers superb accommodation in 7 staterooms. Superyacht FLAG offers a fantastic range of water-sport toys and an energetic and professional crew.

NOTABLE FEATURE: ~ Swimming platform for easy access to the water ~ Various outdoor areas are offering a wide choice of spaces for sunbathing, dining or sipping cocktails ~ Sundeck perfect for entertaining: lounge area, pizza oven, barbecue, bar and al fresco dining ~ Extra large pool on the sundeck forward surrounded by extensive sun pads ~ An array of water toys ~ A gym on the upper deck

FLAG is a pedigree yacht launched in 2000 by the world-renowned shipyard Feadship. In the winter of 2011-12, she underwent an extensive refit which included a brand new stylish interior designed by the talented and distinctive Chahan of Paris and a re-designed sundeck perfect for entertaining.

Her new stunning and elegant interior combines a contemporary look with a touch of a classic nautical theme. FLAG offers an impressive volume both indoors and out.

She accommodates up to 12 guests in 7 luxurious cabins all ensuite, all doubles: - The Master cabin is situated on the main deck with a king-size bed, private study, his bathroom with a large steam shower and hers with a stone bathtub. - The six other staterooms, all doubles ensuite (with bathtub), are located on the lower deck: two of them with both queen size and single beds, and four cabins with king size beds.

She boasts all of the latest technology with flat-screen TVs including a large Blue Ray screen in the sky lounge, Kaleidescape system via IPads throughout the yacht, satellite TV, iPod dock stations, concert quality audio system, etc..

FLAG Specifications

For the guests who are keen on sports, there is a gymnasium on the upper deck and a generous array of water toys available (26’ custom tender, 27’ Novurania tender, 3 wave runners, 1 jetski, water slide, sea bobs, waterskis, wakeboard, paddle board, fishing gear, etc..)

Yacht Accommodation

FLAG provides ten guests unsurpassed accommodation in 6 newly refitted staterooms.

Amenities and Extras

The range of toys on FLAG includes a 8m Van Dam Limo tender with 300hp engine, a 8.2m Novurania tender with 300hp engine, a rescue tender with 40hp engine, 2 Sea-Doo waverunners (2 man), 2 SeaBobs, 2 inflatable kayaks, 2 inflatable paddleboards, inflatable waterslide, jellyfish pool, diving gear, snorkelling equipment, windsurfing equipment, fishing gear, waterskis, wakeboards and tows, diving board, full beach set up, 2 Segways and 3 mountain bikes

FLAG Disclaimer:

The luxury yacht FLAG displayed on this page is merely informational and she is not necessarily available for yacht charter or for sale, nor is she represented or marketed in anyway by CharterWorld. This web page and the superyacht information contained herein is not contractual. All yacht specifications and informations are displayed in good faith but CharterWorld does not warrant or assume any legal liability or responsibility for the current accuracy, completeness, validity, or usefulness of any superyacht information and/or images displayed. All boat information is subject to change without prior notice and may not be current.

Quick Enquiry

"Whether it’s wiring or plumbing, pipe fitting or painting, finishing or wiring, Feadship has the finest compilation of artists that I could find on my journey of discovery among the superyachts that exist today. It is all the small things that they do, the time they take to do what they do, and the extra effort that they take to make every corner, nook and cranny look great. - Review by the Owner who commissioned yacht ROCK.IT" (hull 687).

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Special features

Specification flag, accommodation, construction & design, dimensions & materials, performance & engines, class & flag.

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FLAG Yacht – Magnificent $45M Superyacht

The $45 million Feadship was delivered from the shipyard in 2000 and features interior design from Chahan Minassian and RWD.

De Voogt Naval Architects penned her naval architecture. The yacht offers an incredible experience of the superyacht lifestyle for guests with its areas for relaxation and numerous features for fun on the water.

FLAG yacht interior

Chahan Minassian from Chahan Interior Design designed the interior of the FLAG Yacht in collaboration with RWD .

Chahan Minassian is the creative director behind Ralph Lauren and many other luxury hotels and residences throughout the world.

The yacht features many tranquil interior spaces designed for relaxation and enjoying the superyacht lifestyle.

The style evokes classical designs with nautical elements throughout, giving guests the best experiences of luxury and fun on the water.

She features accommodations for 12 guests in 1 master suite on the main deck and six double cabins located on the lower deck. The yacht has crew accommodations for 16 members.

The fabulous onboard spaces include an expansive deck for relaxing under the sun with a generous pool area.

There are many social areas throughout the yacht that offer al fresco dining, a BBQ station, a pizza oven, and a bar area.

The decks are large enough for guests to enjoy sunrise or sunset yoga or use the fully equipped gym with cross trainers and weights. A jacuzzi adds to the relaxing features of the yacht for guests to enjoy.

FLAG Yacht also makes use of the expansive deck with an open-air theatre. There is plenty of excitement for guests to enjoy with the water toys and tenders on board.

These include jet skis, scuba diving equipment, towable toys, and several inflatable water toys.

FLAG Yacht features exterior design by De Voogt Naval Architects . She is a Feadship yacht that was delivered from their shipyard in 2000. The impressive yacht was refitted in 2012.

She has a white steel hull and aluminum superstructure with teak decks throughout the vessel.

Specifications

FLAG Yacht is 62.3m with a beam of 10.8m and a draft of 3.29m. The vessel has a top speed of 16 knots with a range of 3000 nautical miles.

The superyacht can cruise at a speed of 15 knots, thanks to her 2 Caterpillar engines.

The yacht has a displacement of 1078 gross tons. She features zero-speed stabilizers that make her an exceptionally comfortable experience for guests on the water by reducing the rolling motion of the vessel.

The $45 million superyacht has an annual running cost of $3 – $5 million.

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The superyacht world is speculating that Mark Zuckerberg just bought this 118-meter boat

• The 118-meter superyacht Launchpad made her maiden voyage last week.
• The yacht world is speculating that her owner is Meta CEO Mark Zuckerberg.
• Here's what we know about the luxury vessel.

In the world of superyachts , privacy is the most valuable asset. It can be next to impossible to discern the details of a superyacht transaction — and that's particularly true if the vessel in question is worth nine figures.

Yet some in the boat blogging world are speculating that Meta CEO Mark Zuckerberg is the new owner of Launchpad, a megayacht currently moored in Fort Lauderdale, Florida after she made her maiden voyage from Gibraltar to St Maarten last week. Launchpad clocks in at 118 meters long, about nine meters shorter than Jeff Bezos' superyacht Koru .

The transaction could not be confirmed, with yacht world insiders declining to share what they know and representatives for Zuckerberg not responding to a request for comment from Business Insider. In the past, reports about Zuckerberg owning superyacht Ulysses have proven false.

Related stories

"It is Feadship's standard policy to never divulge any information about our yachts with reference to ownership, costs, or delivery, etc," Feadship, the ship's builder, wrote to BI. "Whether it is an 18-meter Feadship from the 1960s or a 118-meter Feadship from the 21st century, we do not share private information."

But Zuckerberg's name has been connected to Launchpad for a few months now, beginning in December when reports swirled that he visited Feadship's shipyard in the Netherlands.

Then, earlier in March, yachting bloggers like eSysman SuperYachts and Autoevolution started speculating that he officially snagged the boat, originally built for a sanctioned Russian businessman, at a $300 million price tag. (While that's a seemingly huge amount, it's still less than 0.2% of Zuckerberg's $177 billion net worth.)

Another clue that might point to US ownership is that the yacht bears the flag of the Marshall Islands, a US territory and commonplace for American buyers to register their ships, according to public marine tracking.

If Zuckerberg were to have bought Launchpad, he would join a cohort of superyacht-owning tech billionaires . Along with Bezos, the likes of Oracle cofounder Larry Ellison and Google cofounders Sergey Brin and Larry Page have purchased impressive boats with even more impressive amenities.

SuperYacht Times , an industry publication and intelligence platform, has some of the best images of the yacht. Photos show a swimming pool on her main deck and a large helipad.

While less is known of the interior, a vessel of her size can likely sleep dozens of guests and crew and may have amenities like an expansive gym where Zuckerberg could practice his jiu-jitsu or a spa with a massage area. We suspect there's also space for plenty of toys — which could include his viral hydrofoil foil .

Do you have any details about Launchpad or any other superyachts? Email reporter Madeline Berg at [email protected].

Watch: Walmart heiress' superyacht vandalized by activists in Ibiza

• Main content

FLAG YACHT SPECS

More About FLAG

Summary of the FLAG Yacht Specs

For the complete FLAG yacht specs in table view see below. Built by luxury yacht builder Feadship , the luxury motor yacht FLAG measures in at 204.4ft / 62.3m. She has a beam of 35.43, and a draft of 10.8, and she measures in at 1,078 gross tons. She sleeps up to 18 guests in 7 staterooms and has accommodations for 18 crew. She is propelled by Caterpillar engines at 2,000 hp each with a maximum speed of 16 knots and a cruising speed of 15 knots. Her decks are Teak and hull is Steel. Exterior styling is by Feadship with her interior design by Chahan Interior Design .

Page Contents

Download PDF Brochure ,

Download PDF Brochure

Contact: Merle Wood | mwood(Contact us at)merlewood.com | +1-954-525-5111

* Not offered for sale or charter to U.S. residents while in U.S. waters unless under a boat show bond or in an FTZ.

Short Specification

1,078 GROSS TONS

Feadship | 2000

204.4 ft / 62.3 m, 35.4 ft / 10.8 m, 10.8 ft / 3.3 m, detailed flag yacht specs, hull & dimensions, guests & crew, performance.

Overview Of FLAG Yacht Specs

1,078 Gross Tons

17% of Length

5% of Length

Interested In The FLAG Yacht?

FLAG YACHT INFO

FLAG YACHT PRICE

FLAG YACHT PHOTOS

FLAG YACHT LOCATION

For additional information, the price, photos and location, select one of the options above. Here you will find more detailed information about the FLAG yacht. For more information on the FLAG yacht specs, scroll down.

About The FLAG Yacht Specs

For more information on the FLAG yacht specs or your own custom yacht report , simply contact a yacht broker at Merle Wood & Associates. As an internationally recognized leader in the sales, marketing and chartering of the most discerning yachts world-wide, we are dedicated to enhancing the yachting lifestyle and enjoyment of all our clients.

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The FLAG yacht specs have been compiled and sorted to provide our visitors the most current and accurate data for the luxury yacht FLAG. If you would like to report an error or submit additional specifications about the FLAG yacht , please contact our luxury yacht intelligence team .

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All aboard S.S. Facebook.

Mark Zuckerberg has reportedly gifted himself a $300 million megayacht, dubbed “Launchpad,” ahead of his 40th birthday.

The staggering 387-foot-long vessel was seen floating at Port Everglades in Fort Lauderdale, Fla., after arriving at its berth earlier this week, The Sun reported Thursday.

The multi-layered luxury ship’s sleek exterior was designed by Espen Øino International and boasts a steel hull and an aluminum superstructure, according to SuperYacht Times.

Reportedly ranking as the 45th largest yacht in the world, the interiors are just as aesthetically pleasing and reportedly executed by Zuretti Interior Design company, a France-based company specializing in unique and custom yacht design.

The breathtakingly beautiful floater stands out with a navy blue theme matching an American flag perched proudly on its wood-paneled stern.

There are several outdoor areas where the social media maven will be able to relax with his family and the indoor levels feature glass paneling allowing for tons of natural light.

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There also appears to be a helipad perfect for whenever the Facebook co-founder wants to travel to his vessel by air.

The Feadship-built yacht, built in 2022, can comfortably fit 24 guests aboard, requires a crew of 48, and is said to cost $30 million a year for upkeep and usage, according to Superyachtfan.com .

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Want celebrity news as it breaks? Hooked on Housewives?

Boatworld insiders have been buzzing with speculation that Zuckerberg is the owner of the newly minted mega-cruise ever since it made its main voyage from the Netherlands last week.

The tech titan was spotted touring the Russian-commissioned megayacht in early March, though the impressive boat didn’t arrive stateside until this week due to sanctions, according to The Sun.

The website reported that Zuckerberg purchased the pricey yacht – along with its own $30 million partner boat — most likely as an early 40th birthday present to himself.

The boat reportedly traveled to Florida after being granted special permission to be imported just weeks ahead of Zuckerberg’s birthday on May 14.

Zuckerberg’s yacht is just 30 feet shorter than the length of fellow billionaire Jeff Bezos’ 417-foot megayacht Koru, which the Amazon boss snagged for a whopping $500 million.

Zuckerberg’s rep did not immediately respond to Page Six’s request for comment.

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How to choose your yacht's flag state

If you consider buying a superyacht for international cruises and chartering in the Caribbean and the Med, your lawyer or broker will tell you to register and flag the yacht offshore.

The flag you choose to fly from your transom can have a direct bearing on your privacy, taxes, exposure to liability and boarding, the vessel’s success as a commercial enterprise, and, ultimately, your enjoyment of the yacht. So how do you decide which flag best serves your purposes? There is no simple answer that covers every owner, but some basic considerations do apply.

‘The choice of flag state has, over the last few years, become one of the most important decisions owners and/or their representatives must make,’ says Mike Dean of Isle of Man-based Döhle Yachts.

A flag state is the country or governmental entity under whose laws a vessel is registered or licensed. This can be the country in which the owner resides, or more commonly in the superyacht world, an offshore ship registry in a country with laws that are attuned to the complexities of yacht ownership and charter operations.

The flag state has the authority and responsibility to enforce regulations over vessels registered under its flag, including those relating to inspection, certification and issuance of safety and pollution prevention documents.

Offshore flagging advantages

Owners who choose to flag offshore – especially those who plan to make their yachts available for charter in the EU – can benefit in many ways, including, but not limited to, mitigation of some tax burdens, confidentiality of ownership, and reassuring lenders and insurance companies. An owner who intends to operate his vessel as a private yacht and not charter might register the vessel in his home country.

However, many popular flag states have appealing and relatively simple avenues for setting up offshore corporate structures that offer favourable taxation and liability protections under a stable fiscal and legal system. In addition they have construction, inspection and regulatory compliance regimes that can streamline the process of owning and operating a large yacht.

The choice of flag state has, over the last few years, become one of the most important decisions owners and/or their representatives must make

Mike Dean, Döhle Yachts

Registering as a private yacht with a non-EU flag also allows an owner to operate under the Temporary Importation regime in Europe in which a yacht can operate for up to 18 months without the vessel being subject to customs duties or the EU’s Value Added Tax (VAT).

Owners who intend to actively pursue charter in the world’s most popular destinations – in particular, the Med, which is ringed by EU states – and the Caribbean, will generally choose to incorporate, flag offshore and register as a commercially operated vessel.

In addition to the benefits above, such structures can allow the vessel to operate within the VAT system. VAT on charters is still chargeable to the end consumer – the charterer – but the system allows operators of legitimate charter businesses to account for their input tax in the normal business sense. For instance, if a business buys food for a charter, it will pay input tax on the supply but can deduct it as an operating expense.

Good and bad flags

Registering a yacht to operate commercially subjects it to a broad range of regulations related mainly to safety.

A flag state will generally require a yacht to be in compliance with construction standards set forth by one or more of the main classification societies such as Lloyd’s Register, American Bureau of Shipping or Det Norske Veritas, as well as meeting safety and practice standards set forth by government agencies such as the UK’s Maritime and Coastguard Agency (MCA), as applied by the relevant states’ national legislation.

Choosing a particular flag is a vastly complicated matter generally settled between an owner and his attorney, but there are some basic considerations, not the least of which is the potential for the yacht to be boarded and detained by authorities. In short, there are good flags and bad flags.

‘You need to be with a flag that can provide a solid commercial registration that’s accepted in the shipping industry and accepted by the governments of the world,’ says Ken Argent of Water’s Edge Consulting Ltd.

You need to be with a flag that can provide a solid commercial registration that’s accepted in the shipping industry and accepted by the governments of the world

Ken Argent, Water’s Edge Consulting Ltd

A wise starting point would be to choose a flag on the so-called ‘White List’ as maintained by the Paris Memorandum of Understanding on Port State Control (Paris MoU).

The Paris MoU consists of 27 participating maritime administrations and covers the waters of the European coastal states and the North Atlantic basin from North America to Europe. Its mission is to eliminate the operation of sub-standard ships through a harmonised system of port state control. There are other MoU groups around the world, with similar aims.

Port officers inspect foreign ships in the Paris MoU ports, to ensure they meet international safety, security and environmental standards, and that crew have adequate living and working conditions.

Flags on the Paris White List have demonstrated strong performance in those areas and thus, are subject to fewer boardings when they enter foreign ports.

Flags on the Grey List and Black List have been deemed deficient and risk more boardings and possible detentions. Traditionally, yachts have been a low priority for Port State Control (PSC) inspections, but since the advent of the New Inspection Regime in Paris, this is no longer the case and so it is important to choose a flag with a good PSC record and a rigorous approach to safety and certification.

A wise starting point would be to choose a flag on the so-called “White List”

‘There are rogue states that remain outside the family of civilised nations, and yachts that fly those flags are not welcomed,’ says maritime attorney Michael T. Moore. ‘Generally speaking, most civilised countries have subscribed to a web of treaties designed to protect the world’s oceans from pollution, overfishing and various other unacceptable practices. Almost all seafaring nations are on the alert for out-of-pattern flags.’

Other considerations extend beyond the prospect of being boarded. ‘Lenders and insurance companies will review a flag state’s enforcement of international environment and safety and procedures and standards, compliance with international regulations and casualty record,’ says Dean. ‘A poor record will inevitably affect the decisions of the lenders and underwriters.’

The Red Ensign Group

The brokerage and management firm Edmiston Company estimates as many as 80 per cent of large yachts are flagged in the British overseas territories commonly known as the ‘Red Ensign Group’, in particular, the Cayman Islands, Gibraltar and the Isle of Man.

Factors influencing that, says Edmiston, include prestige, tradition and history; international recognition of high standards and adherence to the Large Yacht Commercial Code; ready availability of a large number of qualified surveyors; protection of British maritime law, consular services and navy; and commercial confidentiality (the owning companies can be registered in the flag state, rather than the person who owns the yacht).

As many as 80 per cent of large yachts are flagged in the British overseas territories commonly known as the Red Ensign Group

‘The Red Ensign Group uses the UK MCA’s Large Yacht Code (LYC) as the criteria for building and equipping commercial yachts,’ says Clive Harrison of Döhle Yachts. ‘The LYC has been submitted (and accepted) to the International Maritime Organisation (IMO) as the UK’s equivalent provisions under the equivalence arrangements of several international conventions (Load Lines, SOLAS and STCW).

‘Yachts built and operated under the LYC do so under internally recognised standards,’ says Harrison, ‘whilst other jurisdictions operate their own codes, these have not been presented or accepted to the IMO. Compliance with LYC can have a positive impact on resale values.’

The Red Ensign registry with the largest number of yachts is the Cayman Islands Shipping Registry. According to Peter Southgate, Advisor, Maritime Policy and Legislation Development and Shipping Master of the Cayman Registry, service is one key to the flag’s popularity.

‘The various members of the Red Ensign Group offer a very high quality flag option for any owner, and we ensure that as a group, we do not compete on quality,’ Southgate says. ‘This leaves essentially only service and the possible effects of local restrictions. For example, the UK is an EU flag and hence, temporary importation would not be available to a UK-flagged vessel.’

Flags of different colours

Most flag registries, while either an agency of a government or acting on behalf of the government, are to some extent, in competition with each other for business and offer various angles that may benefit the needs of some owners.

The Marshall Islands allows qualified private yachts to charter up to 84 days a year, but subjects them to detailed surveys heavy on lifesaving, safety and fire fighting. They also have to have a minimum safe manning certificate for when they’re chartering.

‘We look at that as an owner trying to recoup some of his expenses – not putting his yacht into a commercial mode,’ says Eugene Sweeney, senior vice president, Yacht Operations for International Registries, Inc., which provides administrative and technical support to the Marshall Islands Maritime and Corporate Administrators.

The US flag has long been problematic for ship and yacht owners due in large part to onerous regulations and manning requirements. ‘The US flag has a very unwelcoming regime of laws and regulations that make it extremely difficult for a ship of any size to be registered,’ says Moore. Matt Ruane, director of JTC Marine and Aviation, cites some specific reasons a US flag may not appeal to owners of large yachts.

If you are tempted to use the flag of a state because you like the AK-47 image on it, resist.

Maritime attorney Michael T. Moore

‘US residents often wish to purchase yachts outside the US and register on to a non-US flag in order to avoid US sales and/or use tax,’ Ruane writes. ‘US Coast Guard legislation fails to differentiate between merchant vessels and commercial yachts, meaning most large yachts would fail to meet their “Seagoing Motor Vessel” requirements, which, in essence, apply SOLAS requirements to all vessels in excess of 300GT.

‘A US-resident master and crew are required for all large yachts, unless operating privately and outside of US waters. A US flag requires US corporate or private ownership, and the concept of nominee directors and shareholders is less understood and thus, less acceptable, essentially meaning that US corporate ownership is more transparent.’

The actual cost of flagging offshore is relatively low, provided your yacht meets class requirements, which is something an owner would want to consider especially when buying a brokerage yacht. The cost of bringing a yacht up to class can be substantial.

Choosing a flag is a matter best undertaken under counsel of a maritime attorney. There are many possible avenues depending on an owner’s intended use and other considerations, but at the end of the day, most advise sticking with the tried and true.

‘If for whatever reason you are tempted to use the flag of a state because you like the AK-47 image on it,’ says Moore, ‘resist.’

Originally published: Superyacht Owners’ Guide 2012.

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Milei anuncia a sus candidatos para cubrir dos vacantes en la Corte Suprema de Argentina

March 20, 2024, 2:46 PM

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(CNN Español) — El presidente de Argentina, Javier Milei, propuso este miércoles a Manuel García Mansilla y a Ariel Lijo para ocupar dos puestos de juez de la Corte Suprema de Justicia de ese país.

La propuesta busca relevar a los jueces Juan Carlos Maqueda y a Elena Highton, agregó la Oficina de la Presidencia en un comunicado difundido en su cuenta de X, antes Twitter.

Javier Milei insiste con la Ley Ómnibus, pero reducida y dividida en dos proyectos

Maqueda cumple 75 años el próximo 29 de diciembre, edad en la que debe abandonar el cargo, de acuerdo con la ley. Por su parte, Highton renunció a la Corte en noviembre de 2021. Desde entonces, el máximo tribunal de Argentina solo tiene ocupadas cuatro de las cinco plazas que marca la ley.

Las designaciones permitirían restablecer el número de ministros de la Corte Suprema a cinco, agrega el comunicado.

Los candidatos de Milei deberán ser aprobados por dos tercios del Senado argentino.

The-CNN-Wire ™ & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

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