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Island Global Yachting Acquires Fairport Yacht Support and Launches IGY TRIDENT, an Innovative Global Yacht Management and Destination Membership Program

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Combination redefines the yacht ownership experience, enabling IGY to deliver more impactful and integrated yacht services

FORT LAUDERDALE, Fla. — Island Global Yachting (“IGY”) has acquired a controlling interest in Fairport Yacht Support (“Fairport”), an industry leading yacht management company providing an array of essential asset management services for yacht owners. The combination of IGY and Fairport creates the only full-service solution for superyacht owners worldwide.

Island Global Yachting Acquires Fairport Yacht Support and Launches IGY TRIDENT, an Innovative Global Yacht Management and Destination Membership Program Back to video

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Together with Fairport, IGY’s suite of services includes yacht financial administration, crew management, operations and technical oversight, safety, security and regulatory compliance services, insurance administration, and health and wellness solutions, in addition to global dockage, fuel and concierge services. Fairport will remain under the leadership of Graeme Lord, who founded Fairport in 2011 and will continue to be a significant shareholder.

“The IGY team is thrilled to be working with Fairport to deliver a significantly expanded scope of services that enhance the yacht ownership experience,” stated Tom Mukamal, IGY’s CEO. “We are impressed by Fairport’s deep and longstanding client relationships with so many of the world’s top superyachts,” remarked Evan Wien, IGY’s Vice President of Corporate Development. “Fairport’s mission is to make yacht ownership safe, easy and fun, which aligns perfectly with our objective to provide the best possible marina experience across our 22 destinations worldwide,” added Mr. Wien.

The union enables IGY to deliver more impactful and integrated yacht services. “Together we are redefining the yacht ownership experience,” said Mr. Lord. “By aligning with IGY we are able to support our superyacht clients with worldwide touchpoints across IGY’s five-star service level marina network and provide preferential access to dockage, fuel and concierge services, as well as several innovative benefits we are working on together. Our goal is to be the one-stop shop serving owners to enjoy their yacht to the fullest.”

In the coming months, IGY is launching IGY TRIDENT, a first-of-its kind, next generation membership designed to materially improve the experience of superyacht ownership. TRIDENT members enjoy a wide range of highly exclusive benefits covering global dockage, fuel bunkering, yacht management, crew placement and training, insurance, health and wellness, private aviation, and lifestyle events and experiences. To learn more about IGY TRIDENT, please visit igytrident.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005707/en/

Kay Mellinger +1-954-510-3307 / [email protected]

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The long tale of the yacht linked to a Russian oligarch and abandoned in the Caribbean for more than 2 years finally draws to a close

An undisclosed buyer picked up the Alfa Nero for $40 million last week.

The yacht was originally seized from a Russian oligarch in 2022.

The sale ended an ownership tug-of-war, which included ex-Google CEO Eric Schmidt.

An undisclosed buyer has finally stepped up to the helm of the Alfa Nero superyacht, ending a two-year-long saga, Bloomberg reported on Tuesday.

That buyer agreed last week to pay $40 million, a huge discount to the $67.6 million that former Google CEO Eric Schmidt bid last year, a deal he eventually abandoned.

The Antigua and Barbuda government sold the superyacht, which houses an infinity pool that converts to a helipad or dancefloor.

The massively discounted price can be attributed to authorities' need "to get the boat sold," Richard Higgins, a broker who represented the buyer, told Bloomberg.

Higgins said the European buyer, whose identify was kept secret, intends to put the superyacht on the charter market.

The person "is not included in the sanctions list of any country or institution," Ronald Sanders, Antigua and Barbuda's ambassador to the US, told Bloomberg.

The 267-foot-vessel was seized by Antigua and Barbuda authorities after it was linked to Russian oligarch Andrey Guryev, who was accused by the US Treasury Department of having close ties to Russian President Vladimir Putin. Guryev is the founder of Phosagro, Europe's largest producer of phosphate fertilizers, according to the Bloomberg Billionaires Index .

The Alfa Nero was among dozens of superyachts seized following global sanctions against Putin's closest associates, which led to billions of dollars in frozen assets.

The Alfa Nero's maiden owner was Guryev, who purchased the vessel for $120 million, according to the US Treasury and the Antigua and Barbuda government . The Russian billionaire had adamantly denied ownership.

After the vessel was seized in 2022, it remained docked in Antigua's Falmouth Harbour, which cost residents of the Caribbean nation $28,000 in weekly tax dollars for maintenance, which took as many as 44 crew members . The superyacht was then valued at $81 million.

In 2023, the Antigua and Barbuda government put the Alfa Nero up for auction, citing hazards due to a lack of maintenance.Eric Schmidt initially won the bidding, for $67.6 million , but eventually backed out after Guryev's daughter claimed ownership of the superyacht.

The most recent acquisition of the Alfa Nero finally ends its ownership limbo, during which it racked up millions of dollars in port fees under the custody of the Antigua and Barbuda authorities, Darwin Telemaque, the Alfa Nero's port manager, told Bloomberg.

Last year, the Wall Street Journal reported that Antigua and Barbuda taxpayers were footing a $28,000-a-week bill to maintain the Alfa Nero, including the salary of an Italian captain and $2,000-a-day in diesel to keep its air conditioning running. That's because if the AC is turned off, it could let mold spread throughout the vessel and ruin the hardwood interior or a Joan Miró painting onboard, per the WSJ.

Read the original article on Business Insider

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Will the River Seine be ready for Paris' 2024 Summer Olympics?

Israeli athletes to get 24-hour security for paris olympics after lefty french pol says delegation ‘not welcome’.

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Israeli athletes will receive around-the-clock protection for the Olympics after an anti-Israel far-left lawmaker called for protests against the delegation and said they are “not welcome in Paris.”

The Olympics kick off Friday in France as global tensions continue over Russia’s invasion of Ukraine and Israel’s war on Gaza, the latter of which has become a favorite punching bag for allies of France’s leftist New Popular Front coalition.

“We are a few days away from an international event which will be held in Paris, which is the Olympic Games,” said radical-left France Unbowed (LFI) lawmaker Thomas Portes to a crowd in Paris on Saturday, according to images circulating on social media.

“And I am here to say that no, the Israeli delegation is not welcome in Paris. Israeli athletes are not welcome at the Olympic Games in Paris,” he told the cheering crowd sympathetic to the lefty coalition, which earlier this month pulled off a surprise victory in the country’s parliamentary elections.

Portes also called for protests to demonstrate against the Israeli athletes’ participation.

Other leftist LFI lawmakers took to social media to show their support for the effort, accusing the Jewish state of violating international law in its war with Hamas.

“Faced with repeated violations of international law by the Israeli government, it is legitimate to ask that its athletes compete under a neutral banner in the Olympic Games,” senior party official Manuel Bompard wrote on X.

After Portes’ declaration, French Interior Minister Gérald Darmanin quickly took to the airwaves to announce the athletes would be protected continuously during the games.

The Palestinian Olympic Committee, which is sending eight athletes to compete in Paris, also came out against Israel’s participation, penning a letter outlining its objections to International Olympic Committee President Thomas Bach.

Their letter called for Israel to be excluded from the games and accused the country of violating the Olympic truce, an ancient Greek tradition dating back to the 9th century BC, wherein foreign adversaries temporarily halt ongoing military hostilities to ensure safe passage for athletes and spectators.

French Foreign Minister Stephane Sejourne attempted to provide reassurance that the Israeli athletes were welcome and would be safe in Paris while speaking at a meeting with his European counterparts in Brussels on Monday.

“I want to say on behalf of France, to the Israeli delegation, we welcome you to France for these Olympic Games,” he said, according to Reuters .

Sejourne said he would reiterate his welcome message during a phone call with the Israeli foreign minister, adding he would “tell him that we are ensuring the security of the Israeli delegation.”

The 33rd Summer Olympics come 52 years after the massacre at the 1972 games in Munich in which 11 Israeli athletes were slaughtered by the Palestinian militant organization Black September.

In the run-up to this year’s games, the location of a memorial ceremony set to take place to honor the Israeli athletes killed in the Munich attack was changed from outside Paris’ City Hall to the Israeli embassy.

Israel is expected to send approximately 88 athletes to compete in Paris.

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World leaders react to Biden’s exit from the 2024 US presidential race

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It was the second seismic moment in US politics in just over a week, following the assassination attempt against former president Donald Trump at a Pennsylvania rally on July 13, which saw global leaders rally around him as the Republican nominee.

Pressure had mounted on Biden to pull out of the race since his disastrous performance at the CNN presidential debate last month, and on Sunday, he confirmed he would remain a one-term president, prompting a flood of tributes from US allies who thanked him for his leadership.

British Prime Minister Keir Starmer, who met with Biden this month in Washington, said he respects the president’s decision and looks forward to working together for the remainder of his term.

“I know that, as he has done throughout his remarkable career, he will have made his decision based on what he believes is best for the American people,” Starmer wrote on X.

Canadian Prime Minister Justin Trudeau thanked Biden for being a “true friend” to his country. “He’s a great man, and everything he does is guided by his love for his country,” he said on X .

In a news conference, Australian Prime Minister Anthony Albanese said Biden deserves to be recognized for “once again not putting himself forward first, but giving his first consideration to being what he believes is in the interests of the United States of America, as he has done his whole public life.”

“President Biden has dedicated his life to public service, and that is something that deserves much respect,” New Zealand Prime Minister Christopher Luxon said on X.

Ukrainian President Volodymyr Zelensky thanked Biden for his “unwavering support” in his country’s war against Russia, which the US has backed with weapons, military aid and diplomatic support, despite backlash from Republicans.

“Many strong decisions have been made in recent years and they will be remembered as bold steps taken by President Biden in response to challenging times,” Zelensky said on X . “We will always be thankful for President Biden’s leadership.”

Meanwhile, Kremlin spokesman Dmitry Peskov said Moscow was “not too surprised” by Biden’s withdrawal. “In recent years, what has been happening in the United States has taught us not to be surprised by anything,” Peskov told reporters Monday.

“This topic should concern American voters, but not us,” he said, adding that “what is very important for us is the future of Russian-American relations, which are now experiencing the worst period in history.”

Israeli Prime Minister Benjamin Netanyahu said that, whoever wins the US presidential election, Israel will remain “an irreplaceable ally” for Washington in the Middle East.

Speaking on Monday from the tarmac of Tel Aviv’s Ben Gurion Airport ahead of boarding a flight to the US, Netanyahu said his trip was an opportunity to thank Biden “for the things he did for the state of Israel, both in the war and during his years of service as a senator, as vice president and as president.”

President Isaac Herzog described Biden as a “true ally of the Jewish people,” while Defense Minister Yoav Gallant said the US president’s “steadfast backing, especially during the war, has been invaluable,” both in posts to X.

Biden has been one of the biggest supporters of Israel’s war in Gaza since Hamas’ October 7 attacks. But he has increasingly clashed with Netanyahu over humanitarian aid and the mounting civilian death toll of the conflict.

Irish Taoiseach Simon Harris called Biden “a proud American with an Irish soul,” and thanked him for his “global leadership” and “friendship.”

Outgoing Mexican President Andres Manuel Lopez Obrador said Monday that Biden was a “good leader” who’d had “very good results” with the pandemic and the “economic crisis” caused by the Russia-Ukraine war.

Other leaders commended Biden for making what must have been a tough decision to drop out of the race.

French President Emmanuel Macron in a letter to Biden praised the American leader’s decision to end his reelection bid , saying that it showed “courage” and “sense of duty,” the Elysee Palace press office said on Monday.

“I appreciate the courage, the spirit of responsibility and the sense of duty that led you to this decision,” Macron wrote.

“My friend Joe Biden has achieved a lot: for his country, for Europe, for the world,” German chancellor Olaf Scholz wrote on X . “His decision not to run again deserves respect.”

Speaking at a rally Sunday, Venezuelan President Nicolas Maduro said Biden made the “correct” decision and put his family and health first. He wished him “health and a long life.”

Polish Prime Minister Donald Tusk wrote on X that Biden had made difficult decisions “thanks to which Poland, America and the world are safer, and democracy stronger.”

“I know you were driven by the same motivations when announcing your final decision. Probably the most difficult one,” Tusk said.

Leaders in South Korea and Japan said they would not comment about domestic politics in the US but emphasized the need to continue to work with the White House. Both nations have a mutual defense treaty with the United States and Biden was a major promoter of deepening ties between allies in Asia, in part to counter the growing assertiveness of China.

“I recognize that President Biden’s decision is based on his desire to make the best possible political decision,” said Japanese Prime Minister Fumio Kishida. “The Japan-US alliance is the cornerstone of our nation’s diplomatic security, and we will continue to monitor it closely.”

The office of South Korean President Yoon Suk Yeol said it will “continue to work closely with the US to further develop the South Korea-US global comprehensive strategic alliance.”

Philippine President Ferdinand “Bongbong” Marcos JR said Biden’s “decision to withdraw from his candidacy is a demonstration of genuine statesmanship.”

“We thank him for his constant and unwavering support for the Philippines in a delicate and difficult time,” he wrote on X. The Philippines, which is also a treaty ally of the US, has found itself increasingly confronting Chinese vessels in the South China Sea in recent years.

There was no official word from Chinese leader Xi Jinping as of Monday morning local time.

But “Biden dropping out of the election” was the top trending topic early Monday on Weibo, China’s X-like social platform, with five more related topics including discussions of Kamala Harris and Trump’s assassination attempt together accumulating more than 400 million views.

Some Chinese social media users excitedly speculated about the prospect of a woman becoming US president, while others said they believe Trump will win no matter the Democratic candidate.

“The shot was definitely a good deal for Trump!” one Weibo user wrote.

One user remarked, “that one shot didn’t kill Trump but dropped Biden,” while another described the political situation in the US as “a total mess.”

CNN’s Hassan Tayir, Mike Schwartz, Manveena Suri and Anna Chernova contributed reporting.

For more CNN news and newsletters create an account at CNN.com

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53m Damen Yachting support vessel launched and named Five Oceans

Related articles, superyacht directory.

Dutch yard Damen Yachting has launched its second 53.3-metre support vessel in the presence of her "delighted owner" Tommy Allen, who named her Five Oceans . 

Once delivered, she will assist his company Five Oceans Global Solutions – an organisation dedicated to marine conservation, resource management and safe, responsible deep-sea exploration.

" Five Oceans will be used to research life below the surface of our oceans, a topic and cause central to Mr. Allen's operations and an important vision that we are honoured to be contributing to with this Yacht Support platform," said Jan van Hogerwou, commercial executive at Damen Yachting.

He added: "Seeing her out in the open and ready for the final stages of her build before her delivery just a couple of months from now is the start of something truly exciting."

Construction on Five Oceans began in December 2022 after two years of design and development. The YS 53  series is an evolution of the YS 5009 , which was originally based on Damen's commercial platforms. Highlights include a vast aft deck across a nine-metre beam for carrying toys and tenders with a 15-tonne deck crane for launch and recovery.

The support yacht is powered by two Rolls Royce MTU engines delivering a combined total of 6,000hp and a top speed of 19 knots. The vessel will also be fully IMO Tier III compliant, reducing harmful emissions by 70% for full-range operations with a 5,000 nautical-mile range. According to the shipyard, Five Oceans is "strongly focused on highly demanding performance, efficiency and comfort."

Five Oceans sits beneath the 500GT threshold and can carry anywhere between six and 16 guests or staff, depending on how the owner wishes to use the vessel, as well as accommodation for a crew of 10.

According to BOATPro , Damen Yachting has six units currently under construction, including a second YS 53. 

The news follows the delivery of the 60-metre superyacht Satemi .

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