LEGAL
UPWIND LEGAL Upwind Legal is located in the heart of Hamburg and headed by the two partners Julia Wiechell und Martin Malinowski. Together with the two experienced lawyers Alicia Vázsquez Prendes and Gabriel Wernet they offer highly specialised legal advice, expertise, long-standing experience and a comprehensive global network. The specialised superyacht team advises on all matters inter alia related to shipbuilding, sale and purchase, ownership structures (including partial ownership and time-sharing models), owner supplies, insurance, employment/crew, private and commercial registration, flag and class related matters, charter dispute resolutions, warranty claims, damage, accidents, broker commission dispute resolutions, as well as all day-to day operational and management issues connected with the smooth operation of a superyacht for owners and crew. For more details Tel. +48 40607750060 or visit
www.upwind-legal.de
and what the yard needs from the owner and representatives in order to deliver the yacht on time and as the owner would like. That includes the need to fix the design early on, how the yard engineers and production stages work, and the impact that changes will have. That is where most of the problems we have seen have arisen.”
Sundell adds, “Another issue is the tension between owners’ representatives wanting cost and invoice control and the build or refit yard needing funding for the work – often to pay subcontractors for interior works (for example). Owners wanting to keep too tight a hand on the reins can often find the project stalling or going off the rails as the yard struggles with subcontractor relationships as a result.”
Burmester at Upwind Legal adds that securities for instalments, sufficient scope of warranties, proper transfer of title documents, seafarers law, necessary registration documents are also frequently overlooked and create problems.
WINDS OF CHANGE Looking into the future, new regulations coming into the commercial shipping worlds, such as carbon and sulphur emissions will one day be applied to superyachts. Says Kelly, “At present, regulations like the ETS - Emission Trading System which will apply to all ships over 5,000 GT in the EU from 2024 will affect very few yachts, but it is very likely that this will be expanded to smaller vessels in time. The same is true of CII, the Carbon Intensity Indicator which effectively ‘grades’ vessels for their carbon efficiency. These more sustainable legislative regulations will undoubtedly affect the superyacht industry.”
“These will fit with the awareness within the industry of the need for greater energy efficiency, and provide the regulatory drive for that efficiency which a lot of yacht designers and builders are saying is needed. It will of course force owners’ hands into adopting, or possibly refitting to ensure efficiency, although refit could be an expensive task. New owners would probably therefore be better getting ahead of the game, because these environmental issues are likely to play a large role in future decisions of those looking to buy or charter (or even work on board) a yacht.”
As Burmester points out, the superyacht industry is constantly adjusting its sails in line with a changing wind. She says, “Securities granted by shipyards in respect of the instalments are permanently changing.”
It will of course force owners’ hands into adopting, or possibly refitting to ensure efficiency, although refit could be an expensive task
“It’s important to know the current status of possible securities when you are
negotiating.” She adds, “Currently we note a change regarding the technical requirements of the insurers in respect of private yachts. They are getting much stricter as a result of the increasing number of fire incidents last year.” At least eight motor vessels caught fire during the course of 2022, a figure way up on the previous years as far as we know.
ONBOARD | SUMMER 2023 | 69
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