HFW Yachting Industry Briefing
The HFW yachting team has been busy throughout 2020 and it has been encouraging to note the continued flow of new design contracts, new construction projects and the large number of second-hand sale and purchase transactions, all of which evidence the enduring attractiveness of yachting despite of or perhaps because of Covid-19.
That is not to say that the Covid-19 pandemic has not impacted us and our clients. Quite apart from the dramatic changes to our own working arrangements, it has found us assisting clients with the multiple challenges they have faced, including managing the impact on their transactions and/or businesses, advising on crew transfer issues and dealing with a range of claims arising out of cancelled charters and delayed projects.
We have had to find new ways to stay in touch with clients and the wider industry. Amongst other developments since we last wrote, we have re-launched our website, grown our involvement in British Marine through our engagement in re-drafting their suite of standard contracts and, in a demonstration of the importance to our practice of yachting in the Asia-Pacific region, joined the Asia-Pacific Superyacht Association (APSA).
Further, as part of our commitment to building practices and cultures that actively facilitate, cultivate and celebrate diversity and inclusion at all levels, we are supporting, on a pro bono basis, the development of the She of the Sea campaign and are delighted to have become signatories to the She of the Sea Pledge. For more information on the invaluable work being undertaken by this campaign and the pledge itself, please visit the She of the Sea website.
In this, 6th edition of Comprehensively Yachts, HFW has taken the conscious decision to address matters other than those related to Covid-19. We kick things off with a brief look at various issues coming up in the next couple of months, including the requirement for yachts over 500gt to carry on board an Inventory of Hazardous Materials, the potential impact of Brexit on VAT arrangements and the extension in application of IMO Tier III NOx requirements from 1 January 2021.
We then consider the evergreen appeal of yachts as film locations and some of the issues we have encountered when supporting owners and studios alike with film projects. From there we go on to discuss the Yacht Club de Monaco and Crédit Suisse’s new Superyacht Eco Association (SEA) Index.
Although most people are now aware of the EU’s General Data Protection Regulation, this has
not stopped a stubborn failure in some quarters to comply with data protection regulations, particularly when it comes to the personal data of crew.
Finally, we wrap up this packed edition with an analysis of a recent case of real relevance to those managing or using marina facilities in the UK. As ever, we hope you find the content useful and would be delighted to receive any comments or questions you might have.
To download the publication go to https://www.hfw.com/Comprehensively-Yachts-HFW-Yachting-Industry-Briefing-Dec-2020