President Trump this week signed a bill that will allow American owners of large yachts to finally register their vessels under the United States flag. Until now, U.S. law defined a yacht as a vessel whose volume was a maximum of 300 GT. The law was written in 1920 but never updated to reflect larger yachts of today. This, in turn, has prevented most Americans who own … [Read more...]
Two Rescued After Yacht Collides with Cargo Ship in English Channel
Two yachtsmen had to be rescued early Wednesday morning after their vessel collided with a cargo ship in the English Channel off Dungeness, Kent. The HM Coastguard reports that it received a MAYDAY call from the yacht following the collision which happened just after 4:10 a.m. on Wednesday. Dungeness RNLI lifeboat rescued the two from the yacht and both are reported … [Read more...]
Indonesia to Release Seized Yacht in 1MDB Case
By Agustinus Beo Da Costa JAKARTA, April 17 (Reuters) - An Indonesian court ruled on Tuesday that a luxury yacht linked to a corruption scandal at a Malaysian state fund was wrongfully impounded in Bali at the request of U.S. authorities and ordered the vessel to be released, police said. The Cayman Islands-flagged Equanimity was impounded by Indonesia in February as part of … [Read more...]
Fuel-Guzzling Yacht Industry Wades Into Hybrid Technology
By Nathan Crooks (Bloomberg) -- Even the diesel-guzzling yacht industry is exploring hybrid engine technology. Luxury boat makers have trailed behind automakers in the quest for new ways to power engines, but Thomas Conboy, North America sales agent for Dutch yacht company Heesen, said his industry is paying attention to the growing demand for environmentally-friendly … [Read more...]
U.S. Judge Says Ex-Presidential Yacht Can Be Sold for $0 to Foreign Investors
By Tom Hals Nov 14 (Reuters) - A Delaware judge on Monday said the former presidential yacht, U.S.S. Sequoia, can be acquired by an investment group for zero dollars, ending a years-long dispute over the storied ship once used by John F. Kennedy. U.S. presidents for decades entertained dignitaries on the 104-foot wooden Sequoia until it was sold by Jimmy Carter in … [Read more...]