Displaying items by tag: finance

29th January 2012

IWDG Secures 75% Funding for Celtic Mist Refit

#TALL SHIPS - The Irish Whale and Dolphin Group (IWDG) has secured three-quarters of the funding it required to refit its research vessel Celtic Mist.

According to The Irish Times, the Clare Local Development Company has approved the allocation of a €48,000 grant towards the refurbishment of the ketch.

The work will be carried out by Cathal Blunnie and several sub-contractors, and involves stripping down the main cabin and removing the bath and shower to increase space for crew berths.

While the ship's clock will be retained, the ship’s wheel in the main cabin will be removed and presented to the Haughey family as a gesture of appreciation.

As previously reported on Afloat.ie, the 52-foot yacht - which was gifted by the Haughey family to the IWDG to assist in its marine wildlife conservation work - entered dry dock last November in preparation for the refit work, after relocating to its new berth at Kilrush, Co Clare in July.

This followed its last jaunt at sea in its former guise, completing a leg of the Tall Ships Races from Waterford to Greenock in Scotland.

The cost of refurbishing the yacht for research and training purposes is expected to top €60,000, with an annual running cost of some €20,000, for which the IWDG is seeking ongoing financial assistance.

The group aims to get the Celtic Mist back at sea before the summer.

Published in Tall Ships

Life Made Plain Sailing For Yacht Crew

Douglas, ISLE OF MAN - Moore Stephens Isle of Man, leading providers of multi-sector wealth management services has today announced a comprehensive financial support service for Superyacht crew through one of its group companies, Moore Stephens Crew Benefits Limited.

Speaking about the service line, Clive Dixon, managing director said, "While this was the logical next step in the development of the product, we actually ended up with a brand new offering powered by the International FlexiPlan retirement savings scheme. We listened to our clients who asked us to refine our existing product and the end result is a highly flexible client-focused way of managing crew benefits. Our clients wanted to be empowered to make investment decisions on the level of retirement savings they have, which is where the International FlexiPlan works perfectly."

The comprehensive service which will incorporate a 24/7 helpline comes on the back of Moore Stephens' successful Superyacht registration, HR solutions and yacht owner services which had already expanded into yacht crew payroll. It includes:

· Retirement savings plans, flexible and adaptable to a crew member's unique lifestyle, available in all major currencies.

· Health insurance, including hazardous sport, piracy and kidnapping options, but always with Med-evac as standard.

· Accident cover for dismemberment, permanent incapacity and death, among other options.

· Flexible income protection and life insurance.

"Our clients can either leave their retirement savings to be managed by their chosen provider or manage their own retirement savings using the investment funds available in the International FlexiPlan through a secure web-based platform. The International FlexiPlan has been specifically tailored with seafarers in mind. No other product on the market has been dovetailed to their needs in such a way. Our goal is to become a one-stop financial shop for crew, it's as simple as that," continued Clive.

All crew become members of "Moore Stephens Crew Club" www.mscb.im with a dedicated website and membership card which includes the telephone number of their personal 24/7 helpline.

While the International FlexiPlan retirement savings scheme was designed by Moore Stephens Isle of Man to minimise fees and charges, including fund investment fees, so that the saver gets a low cost solution to their retirement savings need, other services such as banking and insurance were arranged through strategic alliances with international banks and specialist providers with an international perspective.

Bransom Bean, Director of Moore Stephens Crew Benefits Limited, who project managed the offering, said, "We sourced specialist underwriters to provide a truly comprehensive global coverage scheme including global air Med-evac, piracy and ransom and coverage in the USA." He explained the rationale by stating, "Our brief was to design an ultra low-cost, fully flexible, international insurance product with the unique lifestyle of a yacht crew member in mind. This is a perfect fit for us as well - what could be more international than Superyachts?"

Published in News Update

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finance

About the Golden Globe Race

The Golden Globe Race is the original round the world yacht race. In 1968, while man was preparing to take his first steps on the moon, a mild mannered and modest young man was setting out on his own record breaking voyage of discovery. Off shore yacht racing changed forever with adventurers and sailors, inspired by Sir Robin Knox-Johnston, following in his pioneering wake. Nine men started the first solo non-stop sailing race around the World. Only one finished. History was made. Navigating with a sextant, paper charts and an accurate and reliable time piece, Sir Robin navigated around the world. In 2018, to celebrate 50 years since that first record breaking achievement, the Golden Globe Race was resurrected. It instantly caught the attention of the worlds media as well as adventures, captivated by the spirit and opportunity. The original race is back.

The Golden Globe Race: Stepping back to the golden age of solo sailing

Like the original Sunday Times event back in 1968/9, the 2018 Golden Globe Race was very simple. Depart Les Sables d'Olonne, France on July 1st 2018 and sail solo, non-stop around the world, via the five Great Capes and return to Les Sables d'Olonne. Entrants are limited to use the same type of yachts and equipment that were available to Robin Knox-Johnston in that first race. That means sailing without modern technology or benefit of satellite-based navigation aids.

Competitors must sail in production boats between 32ft and 36ft overall (9.75 10.97m) designed prior to 1988 and having a full-length keel with rudder attached to their trailing edge. These yachts will be heavily built, strong and steady, similar in concept to Robin's 32ft vessel Suhaili.

In contrast to the current professional world of elite ocean racing, this edition travels back to a time known as the 'Golden Age' of solo sailing. Suhaili was a slow and steady 32ft double-ended ketch based on a William Atkins ERIC design. She is heavily built of teak and carried no computers, GPS, satellite phone nor water-maker, and Robin completed the challenge without the aid of modern-day shore-based weather routing advice. He had only a wind-up chronometer and a barograph to face the world alone, and caught rainwater to survive, but was at one with the ocean, able to contemplate and absorb all that this epic voyage had to offer.

This anniversary edition of the Golden Globe Race is a celebration of the original event, the winner, his boat and that significant world-first achievement. Competitors in this race will be sailing simple boats using basic equipment to guarantee a satisfying and personal experience. The challenge is pure and very raw, placing the adventure ahead of winning at all costs. It is for 'those who dare', just as it was for Knox-Johnston.

They will be navigating with sextant on paper charts, without electronic instruments or autopilots. They will hand-write their logs and determine the weather for themselves.

Only occasionally will they talk to loved ones and the outside world when long-range high frequency and ham radios allow.

It is now possible to race a monohull solo around the world in under 80 days, but sailors entered in this race will spend around 300 days at sea, challenging themselves and each other. The 2018 Golden Globe Race was a fitting tribute to the first edition and it's winner, Sir Robin Knox-Johnston.

Background on Don McIntyre (61) Race Founder

Don is an inveterate sailor and recognised as one of Australia s greatest explorers. Passionate about all forms of adventure and inspiring others, his desire is to recreate the Golden Age of solo sailing. Don finished 2nd in class in the 1990-91 BOC Challenge solo around the world yacht race. In 2010, he led the 4-man Talisker Bounty Boat challenge to re-enact the Mutiny on the Bounty voyage from Tonga to West Timor, in a simil