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ARTICLE · 29 JUNE 1999

All Change In The Yachting Industry

GuernseyLitigation, Mediation & Arbitration

The traditional yachtsman who has a 30ft sailing yacht is surprised by the cost of the superyachts, how much their owners lavish care and expense on them and the number of 'hangers-on' it takes to support the larger yachts.

Those who have experience in commercial shipping, while well aware of the high costs of building and running large vessels, are surprised by the lack of the strict budgetary and technical controls that are usually provided by onshore ship managers. Furthermore, from their professional viewpoint, they cannot understand how a yacht often costing more than an equivalent-sized commercial vessel does not have to comply with strict manning and other regulations.

However large a superyacht is, it remains 'one man’s toy' and, in most cases, the pleasure he derives from the superyacht comes from its purchase and occasional use rather than any long-term commercial operation. Cynics argue that the pleasure derived from actually owning a yacht is often inversely

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