We now have a small office in the World Trade Centre in Moscow which is administered by Anton Matveev. Alex Krykanyuk is no longer our representative in Moscow and the Ukraine.

The Cyprus VAT department has now published the much anticipated guidelines for this scheme. It is very similar to the Malta Scheme but with a number of attractive enhancements. If optimised a VAT rate of 3.4% can be achieved. Contact Ian Collett for more information.

ECOSuperyacht Emissions Managment, a specialist in providing energy efficiency and emission management services throught it’s ECO Seas Programme, have appointed Ward & McKenzie to act as it’s exclusive surveyor to undertake all technical inspections on the yachts participating in this programme.

We would be interested to hear from anyone who has experienced a catastrophic failure of such an engine.

The French Customs authorities are conducting rigorous checks on all yachts in the Cote d’ Azur. The status of non EU domiciled owners is being checked. Residence in the EU, however temporary, by an individual or his family has given rise to claims for VAT and large penalties levied, even in circumstances where the TA exemption is being correctly claimed.Great care has to be taken by such individuals and they and their captains need to be properly briefed so that the risk of detenetion is mitigated.There is evidence of pan EU customs co-opertion in this regard!

Ian Collett and Michael Lythgoe attended the 5th Annual Conference in Palma this week. The Conference was attended by a hundred or so delegates. The atmosphere was mixed. The lack of bank finance continues to cause problems as does the approach of customs in a number of jurisdictions, most notably in UK, Spain and Italy! The Malta Yacht Leasing scheme was confirmed as being the only viable VAT mitigation scheme open to yachts in private use. Particularly relevant with rising VAT rates throughout the EU.

We are delighted to welcome Chris Nicolle to W&M. He is joining our head office team as our senior surveyor. Chris was formally practising with J Winterbotham & Partners. Chris will be repsonsible for our survey practice, and will liaise with our outport surveyors, with a view to developing this side of our business.

At the end of May the brand new AMELS 177 was delivered to a repeat client of ours by the Dutch superyacht builder, AMELS. She was delivered in good time for the forthcoming season. The 177 footer is an evolution of the successful AMELS 171. Ward & McKenzie acted as the owner’s representative and project manager in respect of both builds and have had a team embedded in the shipyard for three years.

Ward & McKenzie are very pleased to announce the successful launch of Amels 171 Limited Edition series, Hull number 456. This vessel is in fact an extended 171 and should be described as the first of the 177 series! Ward & Mckenzie have been the project managers of this build from inception to delivery, having also safely delivered her sister ship, HN 455 in April 2009. Hand over is due in May 2010.

We have just concluded a settlement with insurers on behalf of a client for the total loss of his motor yacht that was submerged during the recent heavy rainfall in Cumbria. But only after the underwriters had tried to persuade their assured to accept a much lower figure based on a very disingenuous interpretation of their policy!