Author: The Maritime Observer
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D-Marin announces new marine; Port De La Mer
Marina chain D-Marin announces a new addition to its roster of world-class marinas. Port De Le Mer Marina is set for a September 2024 launch and will be located on the coast of La Mer’s north peninsula. Port De La Mer marks D-Marin’s fifth marina in the UAE.
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The Protracted Journey of Royal Romance
The superyacht industry continues to feel the effects 2022 Russian Invasion of Ukraine, where countries including the US, EU, and UK imposed sanctions on Russia with the aim of pressuring individuals or entities to cease actions destabilizing Ukraine or threatening its territorial integrity. The damage was felt in different parts of the sector. From a…
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ARMA in talks with Boathouse Auctions for the selling of seized motor yacht Royal Romance
Days after auction house Troostwijk Auctions announced they are no longer in talks withARMA to sell the seized motor yacht Royal Romance, a potential central agent has entered in it’s place. Boathouse Auctions, an online yacht auction marketplace based in the United States, has entered into the initial negotiations for the sale of the 92-meter…
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Business Bay Marina undergoes rebranding; now known as Marasi Bay Marina
In September 2023, Gulf-based real estate development group OMNIYAT announced the acquisition of Business Bay Marina. The marina was previously owned by marina management company D-Marin, who will continue to oversee its day-to-day operations. The marina is now known as Marasi Bay Marina. Marasi Bay accommodates 157 berths for vessels up to 35 meters in…
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Troostwijk Auctions no longer the central agent to seized motor yacht Royal Romance
After the Asset Recovery and Management Agency ( ARMA) of Ukraine confirmed the auction of the seized motoryacht ROYAL ROMANCE with Troostwijk Auctions, plans for the auction have fizzled out. In a statement shared with The Maritime Observer, the auction house states “Troostwijk will not be the auction platform to enable the sale. While we…
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Egypt International Boat Show Announced for July 11-14 2024
After a 13-year hiatus, the 6th edition of the Egypt International Boat Show was announced for July 11-14, 2024. The event will take place at Marassi Marina Yacht Club, located on Egypt’s North Coast. The show plans to display luxury yachts and motorboats, along with water sports equipment and accessories. Exhibitors include UAE-based builder Gulf…
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NEOM announces new development Jaumur
NEOM announces new coastal community Jaumur. A superyacht-based community situated alongside the coast of the Gulf of Aqaba, Jaumur is designed to host 6000 residents residing in 700 villas and 500 marina-surrounding apartments. The development will also see two hotels with over 350 rooms and a boarding school. Meanwhile, the marina promenade will feature all-year-round…
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Interview – Phathom Studio
As soon as the 34.l-meter Majesty 111 made her debut in 2023, she was met with wide acclaim by industry veterans and enthusiasts alike. This adulation is chiefly attributed to a new design team reimagining the direction of the Majesty 111, Phathom Studio. The Majesty line, the flagship series of UAE-based builder Gulf Craft, are…
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BehneMar Yachting becomes official authorized sales agent for The Italian Sea Group in the Middle East
UAE-based Yachting consultancy Behnemar Yachting will now be the official agent for The Italian Sea Group (TISG) in The Middle East. In an announcement made during the 2024 Dubai International Boat Show, the synergy is described as an “Authorized Sales Agency”; occasioned by TISG’s expansion into the MENA superyacht market. A dedicated pavilion was curated…
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Commission fees become the topic of law in new US class action lawsuit
[YA MON EXPEDITIONS, LLC v. INTERNATIONAL YACHT BROKERS ASSOCIATION, INC. et al] In a class action lawsuit, Wyoming-based boat dealership Ya Mon Expedtions LLC claims that several large yacht brokerages are in violation of the Sherman Antitrust Act with the inflation of brokerage commissions in recent boat sales In the 31-page lawsuit, the dealership alleges…
