MY Yogi, image courtesy www.hcg.gr

Proteksan Turquoise issued the most recent public statement from any of the parties linked to its 60m superyacht, Yogi, on 12 March. The vessel itself sank off the coast of Skyros, Greece on 17 February, triggering much theorising on the possible cause of the sinking.

Proteksan’s latest statement, which it has declared to be the final word on the matter unless there are further unseen developments, states that all the relevant ‘stakeholders’ have now had the opportunity to confer in the presence of their lawyers.

According to the Turkish yard’s media representative John Wickham, although the contents of the 9 March meeting in Paris will remain confidential, “[Proteksan has] also conducted [its] own internal inquiry into the sinking, including analysing the yacht’s naval architecture, the construction methods and techniques employed by [Proteksan] in building the yacht. Proteksan-Turquoise is firmly of the opinion that the sinking is not attributable to anything structural or technical which would have compromised her seaworthiness.”

Wickham went on to say that Yogi had been surveyed and certified by the American Bureau of Shipping, LY2 compliant, and surveyed and approved by the French flag authority.

SuperyachtNews.com contacted the Registre International Français (RIF), the French authority to which the yacht was registered, to enquire as to the likelihood of an investigation reaching any conclusions. Although our source did not wish to be named, she confirmed that an investigation is underway:

“There is a special unit that is currently investigating the sinking of motoryacht Yogi on behalf of RIF. They will answer no question at this time because the investigation is still ongoing but they will deliver their final conclusions in two to three months.”

The International Maritime Organization (IMO) requires that its members submit a preliminary accident report within six months of the incident, with a submission of a full report upon completion of the investigation. SuperyachtNews.com contacted the IMO to discuss the information that had been relayed to them by the French authority up to now. Our source said that the IMO would not expect to receive a report so soon after the incident occurred.

At the time of writing, our source confirmed, the sinking had not been recorded by the IMO as a listed incident, and this is unlikely to change, we were told, until the flag state has submitted a report.

“If there haven’t been any injuries or deaths, we wouldn’t necessarily include it [in the database], unless there are aspects that are particularly relevant to IMO regulations,” our source said.

Image courtesy www.hcg.gr

If the results of RIF’s report were to highlight any issues that were relevant to IMO regulations, the latter would expect it to be submitted with its full investigation procedure being implemented. When a report is received it is logged and then passed on to a specialist sub-committee that evaluates its relevance to the wider industry before deciding what action to take.

The source added that the requirement to submit an accident report is actually a recommendation, which depends on a multitude of variables. In this instance, whether a submission is required, “would depend on what they find and whether it’s relevant to IMO regulations.” “If it turns out to be a very straightforward reason, then there isn’t much rationale behind bringing it to the attention of the IMO.”

The findings of RIF then, are more likely to interest the insurance industry, as CRS Yachts’ Simon Ballard said whilst speaking at the Superyacht Fiscal Summit. The sinking will not only change the perception of superyachts as ultra-low risk assets, simultaneously forcing the price of premiums up, Ballard predicted, but may also be the subject of a ‘protracted pay-out process’ when the results are published.

With thanks to Will Mathieson, Editor at SuperyachtNews.com.

Mirabella V

To some gCaptain readers, the superyacht market may be an alien world, however, over the last ten years, this niche industry has exploded. With dedicated, professional teams in place globally, every aspect of their creation, management and running is professionally catered for. Indeed, many naval and merchant mariners have made the leap to the superyacht sector in these burgeoning years as demand grows for specialists in larger and larger vessels.

Whilst by no means the largest fleet on the seas (4,472 vessels over 30m with a further 404 currently in build at the time of writing*) and by no means the largest vessels (the largest, motoryacht Eclipse sits at 162.5m LOA*) they still remain awe-inspiring and stunning when seen in the flesh. Despite this volume, there are a number of iconic superyachts that stand apart from the rest of the fleet. At 72.5m, M5 (ex-Mirabella V) is officially the world’s largest sloop and resides in this pantheon of greats.

Only five years since her last refit at Compositeworks, M5 returns to port for a new substantial refit, this time at Pendennis Plus in the UK, days after the 62.2m motoryacht Virginian leaves the Falmouth facilities.

Mirabella V, image courtesy Pendennis Shipyard

The refit will see the removal of her 90m mast before she docks continuing with the redesign and extension of her stern by 3m, and the installation of a side-boarding platform, all steered by her original naval architect, Ron Holland. Another UK-based company, Green Marine, who will be supported by structural engineers High Modulus Europe Ltd, will undertake the structural fabrication of the composite stern.

The engineering work will see the replacement of M5’s main engines, generators, switchboards and sewage treatment plant, as well as the upgrade of the air conditioning system, electrics and entertainment system, all of which will be complemented by a 10-year DNB survey.

The main structural aspects of the refit, estimated to last 12months, will conclude with a full hull repaint with mast and rig overhaul.

Originally built in 2004 by VT Shipbuilding in the UK, M5’s refit marks a return to the British Isles and its artisan expertise for this super-sloop; indeed several British and Irish companies were shortlisted and commissioned for the refit.  Amongst them interior designers Redman Whiteley Dixon (RWD), hot on the heels of the delivery of their latest project, 96m motoryacht Vava II.

“We are very proud to have been selected to complete the refit of such an iconic sailing yacht,” said Managing Director of Pendennis Plus, Stephen Hills. “It is through projects such as this that the superyacht industry in the UK, including our yard in Falmouth, continues to enhance its world-class reputation for exceptional build quality, design, finish and engineering.”

“The team assembled for the works are testament to the quality of the workforce and facilities available in the UK,” continued the superyacht’s captain, Rocka Romke, before concluding: “Both Pendennis plus and RWD have established reputations as being among the best in their fields, with experience in both the large yacht and sailing yacht sectors. I believe the collaboration between these parties will elevate M5 to be one of the most impressive and original sailing yachts in the world, in both structure and style.”

M5 sits at 75.2m (246.7ft) Length Overall

60.96m (200ft) Length at the Waterline

14.81m (48.6ft) Beam

10.36m (34ft) Max Draft

3700 metre-squared Sail Area

90m (300ft) Air Draft

In collaboration and with thanks to SuperyachtNews.com

* Fleet and vessel specifications courtesy of SuperyachtIntelligence.com