FORT LAUDERDALE INTERNATIONAL BOAT SHOW

ER/DECEMBER 2009

NOVEMB









PRESIDENT

Bruce Schattenburg (The Sacks Group)



VICE PRESIDENT

Crom Littlejohn (Merle Wood & Associates)



TREASURER FORT LAUDERDALE INTERNATIONAL BOAT SHOW

Bob Zarchen (Sparkman & Stephens)



SECRETARY

Lon McCloskey (The Marine Group)



DIRECTORS

Georges Bourgoignie (Camper & Nicholsons)

©2009 Forest Johnson









Jason Dunbar (Luke Brown Yachts)

Jeff Erdmann (Bollman Yachts)

Paul Flannery (HMY Yacht Sales)

Tom George (Tom George Yacht Group)

Whit Kirtland (The Marine Group)

Gary Smith (Sarasota Yacht & Ship)



COMMITTEE CHAIRMAN

Advertising/Publicity:

Lon McCloskey & Georges Bourgoignie

Aerial view of the 2009 Ft. Lauderdale International Boat Show

Arbitration Ethics:

Crom Littlejohn, Lon McCloskey & Paul Flannery

South Florida's signature boat show – in its 50th year – featured more than $3 billion worth of

Brokerage Yacht Show:

boats, yachts and marine accessories. In South Florida, the boat show has an economic impact of

Lon McCloskey, Crom Littlejohn & Whit Kirtland

more than $500 million. Despite the current economy, vendor hopes were high because boat sales

Charter Broker Liaison:

showed a slight uptick in July, August and September after slumping a year ago. More than 200

Crom Littlejohn, Bruce Schattenburg & Lon McCloskey

mega yachts were on display, including the show queen, TRIDENT, a 214-foot vessel from Dutch

Brokerage Forms:

shipyard Feadship. There was also Heesen Yachts' 164-foot MAN OF STEEL and the 141-foot

Crom Littlejohn, Paul Flannery & Gary Smith

AT LAST, both showcased by International Yacht Collection. (see pg. 14-15 for more)

Charter Forms: Crom Littlejohn & Bruce Schattenburg

Membership: Tom George & Georges Bourgoignie

Member Services:

Jason Dunbar, Bruce Schattenburg

& Georges Bourgoignie

MIASF & Legislation:

Jeff Erdmann, Jason Dunbar & Georges Bourgoignie

Seminars: Bob Zarchen & Tom George

Sponsorship:

Bob Zarchen, Tom George & Paul Flannery

Social: Jason Dunbar & Lon McCloskey

CYBA, MYBA, YBAA, IYC & AYCA Liaisons: FRIDAY, JANUARY 2 9 T H , 2 0 1 0

Bruce Schattenburg, Crom Littlejohn & Gary Smith IGFA FISHING HALL OF FAME & MUSEUM

Certified Professional Yacht Brokers Liaison: SEE PAGE 25 FOR INFORMATION

Tom George, Gary Smith & Chuck MacMahon

PLATINUM SPONSORS

EXECUTIVE DIRECTOR MOORE & CO AND W EST PO RT

Rae Whitt

M A R I T I M E L A W

WHAT’S WITH ALL THESE FOREIGN FLAGGED YACHTS?

SPONSORS PART 1 OF 2 By Mark Buhler



Some of the attendees at the recent Yacht Sales and the Law Seminar left feedback for the

P L AT I N U M S P O N S O RS seminar organizers indicating that they would like to know more about why so many of the

MOORE & CO. larger yachts seen in Florida are foreign flagged. Clearly they are not all owned by friendly

2009 Annual Dinner Meeting tourists! So what are the real benefits of foreign registration? Why do so many owners

choose foreign registration? In this first of two installments we will look at some of the

WESTPORT

2009 Annual Dinner Meeting most common reasons for choosing foreign registration. In a subsequent installment we will

consider some of the reasons against, and potential disadvantages of, foreign registration of a

TRIDENT FUNDING CORPORATION yacht. Some of you old salts already know all of this stuff, but for the sake of your less

Thursday Broker Shows crystallized colleagues we ask your indulgence as we review a number of possible reasons

FOWLER WHITE BURNETT, P .A. an owner might wish to elect foreign registration. In some cases, a single one may be

4th & 5th Annual Listings to Closings & the Law enough to compel the choice of foreign registration. In other cases it may require the cumu-

lative weight of several reasons.

GOLD SPONSORS

1. Without a doubt one of the most common reasons to foreign flag a yacht that is benefi-

ALLEY, MAASS, ROGERS & LINDSAY, P.A cially owned by a U.S. resident, and that anticipates visits to Florida, is the hope of avoid-

4th

1 Annual Yacht Sales & the Law Seminar ing liability for Florida sales and/or use tax. If a yacht is sold and delivered outside the ter-

S I LV E R S P O N S O R S ritorial boundaries of the State of Florida, the sale itself is not subject to Florida sales tax.

Likewise, yachts purchased in Florida by nonresidents may be exempted from sales tax pur-

PORT LOUIS MARINA suant to the statutory “removal” exemption, provided the yacht is timely removed from the

BY CAMPER & NICHOLSONS state after the sale and is timely registered in another state or in a foreign jurisdiction.

Educational Charter Seminar (Florida Statutes § 212.05(1)(a)2.) In either case, before such a yacht returns to Florida it

typically becomes foreign registered. The foreign registration usually, although not always,

ASAP MARINE DOCUMENTATION &

REGISTRATION, INC. involves the formation of a new foreign legal entity to take legal title to and to be the reg-

5th Annual Listings to Closings & the Law Seminar istered owner of the yacht.



ATLASS INSURANCE GROUP Having lawfully avoided Florida sales tax liability on the initial sale transaction, an owner

1 Annual Yacht Sales & the Law Seminar

4th will also be concerned about avoiding an equivalent use tax liability if and when the yacht

subsequently comes to Florida. Absent a lawful exception, tangible personal property ordi-

TOTAL DOLLAR INSURANCE narily becomes subject to use tax in Florida when it is imported into the state and becomes

4th Annual Listings to Closings & the Law Seminar

commingled with the general mass of property in the state. (Florida Statutes §212.06(1)(a))

BRONZE SPONSORS A foreign registered yacht, however, owned by a foreign entity that is a nonresident of Florida,

may cruise in Florida exempt from Florida use tax if the yacht arrives in Florida under a fed-

MARINA PAPAGAYO eral cruising license and operates in compliance with the federal cruising license. This is so

IGY: ISLAND GLOBAL YACHTING because under those circumstances a vessel is usually deemed by the Florida Department of

SHOWBOATS INTERNATIONAL

Revenue not to have been "imported" into Florida, and not to have been commingled with

Charter Destinations Seminar

or become part of the mass of property in the state, and thus not subject to use tax.

BANK OF AMERICA

Annual Dinner Meeting (Band) continued on pg. 8



CONTRIBUTING SPONSORS



MIKE WHITT



INTERCOASTAL FINANCIAL GROUP

ION

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INF

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009 SPO

C O N TAC

T US FOR 2



C O N TA C T:



PO BOX 4 6 0 0 4 4

F T. L A U D E R D A L E , F LO R I D A 333 4 6



9 5 4 . 52 2 .9 2 70 T E L / 9 5 4 . 76 4 . 0 6 9 7 FA X



W W W. F Y B A . O R G / F Y B A @ F Y B A . O R G

F Y B A

LEGISLATIVE UPDATE



In 2005, the Florida recreational marine industry was an 18 billion dollar industry

and employed 220,000 Floridians. It is no secret the industry is shrinking due to :

1. Florida’s non competitive tax rates on its industry.

2. Economic conditions not seen since the 1930's

3. Unprecedented 2004-2005 hurricane season

4. Increase cost of insurance premiums

5. Increased cost of dockage



Over the past 2 years, FYBA has partnered with the Marine Indistries Association of

Feature Article......................................................2,8

South Florida (MIASF) and the Marine Industries Association of Florida (MIAF) to help

slow down the loss of business and jobs. FYBA worked to pass the Amendment 6 Charter N ews ........................................................4

Working Waterfront, helping to assure there will be marinas for our boats in years to Charter Open House Recap ............................5

come. FYBA commissioned the study which successfully showed the Florida legislature New Members ....................................................6-7

the benefit of extending the 90 day tax exemption to 180 days. FYBA worked with a lob- On The Move ..........................................................9

byist and other trade organizations to help a maritime full employment act, capping sales Member News ..............................................10-1 2

and use tax on a boat sold in Florida at $18,000 in March of 2009. The Bill passed 4-1

FLIBS Recap......................................................1 5

through the House of Representatives, 116 yeas to 0 nea. Unfortunately, the bill did not 10

20 Global Order Book ........................16-17

have time to be heard in the Senate. Bulletin Board........................................................20

Annual Dinner Form ..........................................25

Today the FYBA recognizes that we lose product and manufacturing and service sector Membership Info ..................................................26

jobs when boats leave to find competitive taxable jurisdictions. FYBA will continue to

Membership Application..................................27

pursue legislative changes to the Sales and Use Tax policies of Florida. FYBA has been

working with other trade organizations in Florida to help Florida compete with other

States and Nations Tax policies.



Many of you reading this article have already contributed to the effort to make Florida a

more competitive jurisdiction. Many of our members are participating in a study to show

how a competitive tax rate will help keep boats and jobs in Florida, along with con-

tributing to the fund raising for legislators who support the marine industry.

Is Your

Regards, GOLD STAR

Jason Dunbar Attached?

FYBA Legislative Affairs Committee

Dues must be paid in order to be

listed in the FYBA Directory and

Website. If you did not receive the

email with your link to pay your

dues online, please contact fyba at

954.522.9270 or email

randi@fyba.org.









WATCH YOUR EMAIL FOR 09

BALLOTS FOR 2010

BOARD OF DIRECTORS

The ballots with the nominees for the 2010 Board of Directors will be going out soon.

Nominees are running for a 2-year term and the results will be announced at the January

29th Annual Dinner Meeting. If you are interested in running for the Board of Directors or

if you know someone who is interested, email fyba@fyba.org. Don’t forget to vote!

2009 3

The Sacks Group Yachting Professionals

The

(TSGYP) are pleased to announce that the

Sacks Group

118’ WANDERLUST has joined their

Yachting Professionals is

Charter Marketing Fleet as a Central Agency

proud to announce the addition of the

Yacht. Built in the 1980s by famous Florida

new 160-foot (49m) Christensen motor yacht RJC Yachts is proud to welcome the 2008,

shipyard Denison, WANDERLUST received

ODESSA to its outstanding fleet of luxury 80’ Cheoy Lee, AQUARIUS to their charter

an extensive refit in 2007 that completely

charter offerings. Launched in August, she is fleet. Aquarius will debut at the upcoming

updated her systems and equipment. Up to

the first Christensen yacht to feature a black St. Maarten MYBA Charter Show December

nine guests are accommodated in four state-

hull and striking silver superstructure. She 4th-7th, 2008 and is actively looking for

rooms, including a master suite with king-

also features an Armani Casa interior. holiday charters. She features three luxurious

sized bed and large bathroom with dual sinks

ODESSA can accommodate up to 12 guests staterooms with full main salon, dining and

and tub/shower. WANDERLUST is available

with her six spacious staterooms. Staffed by a sit down bar. She is available in St.

for luxury charter vacations in Florida and

crew of 10 she is available for select charter Maarten or the US and British Virgin Islands

The Bahamas year-round. Her charter rates

vacations in the Caribbean this winter at a rate for the Christmas and New Year’s holiday.

start at US $35,000 per week, plus all

of U.S. $240,000 per week, plus expenses. For charter information please contact

expenses; bookings are still open for the

ODESSA also will be available for Nicole Caulfield at 954-525-3886 or char-

2009/2010 holiday season at a rate of

Mediterranean charter vacations in the summer ters@rjcyachts.com. www.rjcyachts.com

$38,500 per week, plus all expenses, with

of 2010 at a yet-to-be-announced rate.

priority accorded clients wishing to enjoy a

10- to 14-day charter. Neptune Group Yachting is pleased to

Northrop and Johnson is thrilled to announce announce the addition of two exciting new

the addition of BLUE MOON, 198’ yachts to our growing prestigious fleet.

The Sacks Group Yachting Professionals are

Feadship, to the Charter Fleet. Luxury ZENITH – this brand new 6-stateroom, 120’

pleased to announce that MISS MICHELLE,

motor yacht BLUE MOON is a 60m custom yacht is based in Manaus, Brazil.

the sparkling new 130-foot (40M) Westport,

Feadship launched in 2005. In addition to the Home of the famed Rubber Barons, not only

has joined their Charter Marketing Fleet.

1,200 square foot Owner’s Suite incorporat- is this an interesting location with frequent

MISS MICHELLE accommodates 10 guests

ing a private office and gymnasium, BLUE and direct flights, but also, this is a great crew

in five large staterooms, including a full-

MOON offers five guest staterooms to that specializes in eco tours and promises a

beam, main-deck master suite. MISS

accommodate 12 guests in luxury and style. very different style of yachting. See following

MICHELLE will head to the Caribbean for

Described as the most exquisite Feadship testimonials from a recent charter broker ‘fam

the 2009/2010 winter charter season, and she

ever built, BLUE MOON is worthy of her trip’. DIAMOND GIRL – this exquisite new

will be available for charter vacations in the

Awards Achieved as 2006 World Yachts 4-stateroom 103’ Johnson is based in the

Mediterranean next summer. Her charter rate

World Trophy 150'-200'; 2006 SHOW- Caribbean for the winter, Florida, Bahamas

starts at U.S. $120,000 per week, plus

BOATS Best Full Displacement Motoryacht and New England for the summer. This beau-

expenses. (Please note that MISS

over 56 meters; and the 2005 Nymphenburg ty lives up to her name with a well-known

MICHELLE is not for sale or charter to U.S.

“Prix du Design” which is considered the crew to assure your VIP clients a memorable

residents while in U.S. waters.)

Oscar of the super-yacht industry. BLUE holiday. See first-hand at the MYBA-

MOON is now available for holiday book- St.Maarten Boat Show.For more information,

Northrop and Johnson Fort Lauderdale wel-

ings in the Caribbean from $525,000 per please visit our website @NGYI.com or con-

comes EAGLE'S NEST to the Charter

week, plus expenses. For more information, tact Jeff Shaffer, Director of Charter Marketing

Fleet!EAGLE’S NEST, 98’ MCP Yachts

please contact Lara-Jo Houghting at 954- @954-524-7978.

2007 accommodates up to 10 guests in 4

522-3344 or lhoughting@njyachts.com

staterooms (3 Queens and 2 sets of bunk

beds). EAGLE’S NEST is available in the

Churchill Yacht Partners is pleased to wel-

Caribbean this winter at her introductory rate

come JEWEL, 67’ Sloop, as latest addition

of $55,000 per week, plus expenses.

to their charter fleet. JEWEL was built in

Available for inspection at the Antigua

2005 by Alloy Yachts in New Zealand. She

Charter Show! For more details, contact

recently finished a major refit and is in bet-

lhoughting@njyachts.com

ter than new condition and ready for charter

The yacht offers accommodations for 6 in 3

double cabins with ensuite head and showers.

JEWEL will be berthed in English Harbour

for the Antigua Show. Contact Els Bucknell

at 954-527-2626 or Els@ChurchillYachts.com

NOVEMBER Charter Open House

T

he last Charter Open House of 2009 took

place on Wednesday, November 11th, at

Bahia Mar. Over 40 professionals took

advantage of the perfect fall weather to view

the 6 vessels on display. Vessels ranged in size

from the 88’ LADY VICTORIA to the 124’ LADY

BROWARD. All who attended were treated to

delicious hors d’oeuvres courtesy of the chef on

each vessel. The next open house is scheduled

for January 13th, 2010. The registration form

is below. Thank you to everyone who has sup-

ported the charter open houses in 2009!

Onboard M/Y DESTINY Members enjoy networking

NEW MEMBERS

Voted on at October Board Meeting

PROFESSIONAL ASSOCIATE AFFILIATE ASSOCIATE



Chris Carroll - Atlantic Yacht & Ship Christian Chomat - Robert Allen Law

850 N.E. 3rd St., #213. Dania Beach, FL 33301 1441 Brickell Ave., Miami, FL 33131

Phone: 954-921-1500, Fax: 954-921-1518 Phone: 305-372-3300, Fax: 305-379-7018

Mack Carroll & Pete Woods Robert Allen & Umberto Bonavita



John Gluck - Yachtbrasil International Anthony Felice - Wild Felice & Pardo, P.A

300 Alton Rd., #108, Miami Beach, FL 33139 1,

4101 Ravenswood Rd., #21 Ft. Lauderdale, FL 33312

Phone: 305-722-7200, Fax: 305-534-7715 Phone: 954-944-2855, Fax: 954-653-2917

Keith Maling & Kent Chamberlain Jenny Wicker & Andrew Parkinson



Grant Henderson - 4Yacht, Inc. Albert Holder - Robert Allen Law

757 S.E. 17th St., #317, Fort Lauderdale, FL 33316 1441 Brickell Ave., Miami, FL 33131

Phone: 954-767-0220, Fax: 954-320-7896 Phone: 305-372-3300, Fax: 305-379-7018

Craig Timm & Joe Moretti Robert Allen & Umberto Bonavita



Michael Kelley - Pier One Yacht Sales, Inc. Lynda Horvat - Robert Allen Law

1200 W. Retta Esplamade, #43, Punta Gorda, FL 33950 Robert Allen & Umberto Bonavita

Phone: 941-639-7777, Fax: 941-639-7778

Brian Hill & Len Garofoli Mike Orchard - Nigel Burgess, Inc.

3 East 63rd St., New York, NY 10009

Monty Miller - Anchor Yacht Sales Phone: 212-223-0410, Fax: 212-223-0420

3541 State Road 84, Ft. Lauderdale, FL 33312 Peter Brown & Crispin Baynes

Phone: 954-797-0030, Fax: 954-797-6682

Bob Epstein & Andre Hardy CHARTER ASSOCIATE

Leigh Ford - Richleigh Yachts

AFFILIATE ACTIVE

4855 Hillsboro Blvd., Ste. B1 Coconut Creek, FL 33073

1,

Phone: 954-571-9525, Fax: 954-571-9528

Harry Diener* - Boat Dealer Supply Co.

Debra Blackburn & Jeff Shaffer

.O.

P Box 608, Troy, MI 48098

Phone: 800-521-3870, Fax: 800-537-6031 SUPPORT

Crom Littlejohn & Bob Zarchen

Emma Rodriguez - The Catamaran Company

Richard Graves* - Richard Graves & Associates 4005 N. Federal Hwy., #200, Ft. Lauderdale, FL 33308

1000 S.E. 4th St., #224, Ft. Lauderdale, FL 33301 Phone: 954-727-0016, Fax: 954-727-0024

Phone: 954-524-2131, Fax: 954-524-7 417 Brent Hermann & George Coggeshall

Tom Correll & John Henry Falk

Maria I. Armero-Tellez - Allied Marine

Michael Wild* - Wild Felice & Pardo, P.A 3660 N.W. 21st St., Miami, FL 33142

4101 Ravenswood Rd., #21 Ft. Lauderdale, FL 33312

1, Phone: 305-633-9761, Fax: 305-634-9071

Phone: 954-944-2855, Fax: 954-653-2917 Bruce Schattenburg & Bob Krams

Jenny Wicker & Andrew Parkinson

Christine Rogell - Allied Marine

801 Seabreeze Blvd., Ft. Lauderdale, FL 33316

Phone: 954-467-8405, Fax: 954-763-2675

John Booysen & Bob Krams

NEW MEMBERS

Voted on at November Board Meeting



PROFESSIONAL ACTIVE AFFILIATE ACTIVE



Richard Baratha* - Quarterdeck Yacht Brokers, LLC Augusto DeOtaduy* - Performance Los Cabos

16,

340 S. Beach St., #1 Daytona Beach, FL 321 14 Carretera Transpeninsular KM 3.5, Col. Tetal, Cabo San Lucas 23450

1

Phone: 386-254-311, Fax: 386-492-3498 Phone: 011-526-241059361, Fax: 015-262-41059361

Philip Purcell & Mike Kutrybala Joe Moretti & Neil Esterly



PROFESSIONAL ASSOCIATE AFFILIATE ASSOCIATE

Jill Britton - Alley, Maass, Rogers & Lindsay, P.A.

Kevin Dailey - Sparkman & Stephens 340 Royal Poinciana Way, #321, Palm Beach, FL 33480

529 5th Ave., New York, NY 10017 Phone: 561-659-1770, Fax: 561-804-4605

Phone: 212-661-6170, Fax: 212-661-1235 Robb Maass & Stacy Perry

Jack Zacks & Bruce Schattenburg

Jeffrey Grey - Sparkman & Stephens

Brent DeSellier - WME Yachts Ltd. 555B Thames St., Newport, RI 02840

171 S.W. 23rd Ave., Ft. Lauderdale, FL 33312

1 Phone: 401-847-5449, Fax: 401-847-0052

Phone: 954-769-0566, Fax: 954-756-8027 Jack Zacks & Bruce Schattenburg

Bernard Coffey & Brian Tansey

Bruce Johnson - Sparkman & Stephens

Alton Evans, Jr. - Sparkman & Stephens 529 5th Ave., New York, NY 10017

555B Thames St., Newport, RI 02840 Phone: 212-661-6170, Fax: 212-661-1235

Phone: 401-847-5449, Fax: 401-847-0052 Jack Zacks & Bruce Schattenburg

Jack Zacks & Bruce Schattenburg



Harry Morgan - Sparkman & Stephens CHARTER ACTIVE

529 5th Ave., New York, NY 10017

Phone: 212-661-6170, Fax: 212-661-1235 Bridget Fleming* - Northrop and Johnson

Jack Zacks & Bruce Schattenburg 66 Long Warf, Boston, MA 021 10

Phone: 978-821-6600, Fax: 978-921-6691

Andrew Troyer - United Yacht Sales Bruce Leffers & Steve Doyle

.O.

P Box 6443, Miramar Beach, FL 32550 SUPPORT

Phone: 850-499-7013, Fax: 866-381-5269

Peter Schmidt & Joel Lipton Shayme Life - Sparkman & Stephens

529 5th Ave., New York, NY 10017

Jonathan Wilkes - Classic Yachts International Phone: 212-661-6170, Fax: 212-661-1235

850 N.E. 3rd St., #204, Dania Beach, FL 33004 Jack Zacks & Bruce Schattenburg

Phone: 954-527-2778, Fax: 954-527-2838

Steve Fithian & Jeff Stanley

M A R I T I M E L A W

WHAT’S WITH ALL THESE FOREIGN FLAGGED YACHTS?

PART 1 OF 2 By Mark Buhler



continued from pg. 2

There is an exception to this use tax exemption, however, if the Such obligations generally do not apply to foreign registered yachts

Department of Revenue concludes that the yacht has been used in a man- when operating outside the United States.

ner “inconsistent with” the cruising license. Although federal authori-

ties would almost certainly disagree, the Florida Department of Revenue 6. The owner may wish to avoid the applicability of the inspection

will consider a yacht to be used in a manner inconsistent with the cruis- requirements under the Passenger Vessel Safety Act of 1993 for char-

ing license, and thus immediately subject to Florida use tax, if: tering while outside the U.S. The PVSA requirements apply to U.S.

flag vessels worldwide, but only apply to foreign flag yachts when

a. despite having a valid cruising license, a federal consumption entry bareboat chartering in the U.S.

has been filed or import duty has been paid on the yacht (see, Florida

Department of Revenue Technical Assistance Advisement Nos. 91A- 7. A U.S. resident beneficial owner might be able to avoid liability

023 and 09A-025), or for federal import duty (at rate of 1?% of the value, plus various fees)

on a foreign registered yacht arriving in the United States if the yacht

b. the yacht is sold or chartered, or even offered for sale or charter, while is held not to have been “imported” into the country. Importation is

it is in Florida, including internationally advertised offers for sale or char- a very fact-specific determination that involves, in addition to all

ter that do not exclude U.S. residents (see, Florida Department of Revenue other relevant factors, evidence of the intent of the owner. It might

Technical Assistance Advisements Nos. 89A-015, 89A-040R, and 90A- be noted, however, that in order to establish the facts supporting a

027), unless the yacht has been imported into Florida for the sole purpose determination of no “importation”, a U.S. beneficial owner may at

of being offered for sale at retail, and is delivered to and remains in the the same time be substantially limiting his or her ability to use the

exclusive care, custody and control of a Florida registered yacht broker or yacht in the U.S. for anything more than a short visit or for repairs

dealer, and the owner makes no personal use of the yacht during that time or modifications.

(see, Florida Statutes §212.06 (1)(e)3., and Florida Department of

Revenue Technical Assistance Advisement No. 06A-039). 8. The owner may wish to avoid exposure to the possibility of very

severe penalties that could result from any violations of U.S. laws

2. Foreign registration might be the only viable registration alternative relating to vessel documentation and mortgages, which would be

for many yachts over 300 Gross Tons. If they were U.S. documented applicable if the vessel were U.S. documented (e.g., fines, forfeiture

they would be subject to, but most could not pass, the U.S. Coast of vessel, imprisonment, etc. under 46 U.S.C. §§ 12151 & 31330).

Guard inspection requirements applicable to "seagoing motor vessels".

"Seagoing motor vessels" are defined as vessels of at least 300 Gross 9. The owner may seek a level of anonymity not available in the

Tons that make voyages beyond the Boundary Line (46 U.S.C. § United States. In some foreign jurisdictions nominee shareholders

2101(33)). The applicable inspection requirements are essentially and/or directors are available for the owning entity. Also some tax

those applied worldwide, under the International Convention for the haven jurisdictions do not require any financial reporting.

Safety of Life at Sea (“SOLAS”), to cargo ships over 500 gross tons

and/or to passenger ships that carry more than 12 passengers. 10. The owner may seek to achieve a lower profile under a foreign regis-

tration for security reasons, particularly in areas where crime or terrorism

3. The owning individual or entity may be unable, or unwilling, to directed toward Americans and U.S. flag vessels may be a concern.

meet the U.S. citizenship eligibility requirements for U.S.-document-

ed vessels. (See 46 U.S.C. §12103(b)) 11. Registration of vessels under construction is available in several

foreign countries, such as Canada, the Netherlands, Italy, Sweden,

4. The owner may prefer to have the yacht operated by a foreign crew. Cayman Islands, and Saint Vincent. This often leads to an easy tran-

To do so the owner would have to avoid the U.S. citizenship or/or work sition to permanent registration in that jurisdiction.

authorization requirements that apply to the master and crew of U.S. doc-

umented yachts, particularly if the yacht is operating in U.S. waters. 12. Subsidized construction financing may be available for yachts

There would be very difficult hurdles to overcome in order to obtain being built in, and registered under construction in, some foreign

immigration authorization for a foreign master and/or crew to work on a countries.

U.S. documented yacht while it is operating in U.S waters. On a for-

eign registered yacht, however, so long as the yacht is provably foreign One or more of the considerations outlined above may cause an owner

based (not just foreign registered), foreign citizen crew members who can to lean heavily toward foreign registration of a yacht. Before making

prove that they are nonimmigrants, that they have not abandoned their the final decision, however, consideration should also be given to

foreign residences, and that they are paid abroad, and who comply with a possible reasons against, or disadvantages of foreign registration. We

number of other administrative requirements, may qualify for temporary will discuss some of those in a future installment.

seaman visas, or temporary entry into the U.S. under B-1 visas, to work

on board the yacht while it is operating in U.S. waters. Mark Buhler specializes in yacht transactions. He is Board Certified in Admiralty & Maritime Law.

Mark J. Buhler , Buhler Law Firm P.A.

5. The owner may wish to avoid liability for certain U.S. legal obliga- 555 Winderley Place, Suite 300 , Maitland, FL 32751

tions to crew members, at least when operating outside U.S. waters Main Telephone: 407-681-7000 , Ft. Lauderdale line: 954-644-1758

(e.g., Jones Act, maintenance and cure, federal tax withholding, etc.). Fax: 407-681-7500, e-mail: mark.buhler@earthlink.net

Carl Meyers, previously with Black Pearl Yacht Sales, is now with Chris Surprenant, previously with MarineMax, has opened Chris

Naples Yacht Brokerage. 895 10th St. S., #302c, Naples, FL 34102. Surprenant Yacht Sales. 1531 SE 15th St., #315. Phone: 954-306-

Phone: 239-777-0085; Fax, 239-434-6848. naplesyb@earthlink.net 8017. sales@yachtsontheweb.com



Melinda Miller, previously with Platinum Yacht Collection, is now Randy Kires, previously with International Yachts Brokerage, is now

with HMY Yacht Sales. 2401 PGA Blvd, Suite 182, Palm Beach with Atlantic Yacht and Ship. 850 NE 3rd Street, #213, Dania

Gardens, FL 33410. Phone: 561-775-6000; Fax: 561-799-0909. Beach, FL 33004. Phone: 954-921-1500; Fax: 954-921-1518.

mmiller@hmy.com rkires@atlanticyachtandship.com



Philippe Guillemin, previously with Willmar USA, is now with Global John D’Agostino, previously with International Yachts Brokerage, is

Maritime Yacht & Ship Brokers. 757 SE 17th Street, #941, Ft. now with HMY. 817 N.E. 3rd St., #1, Dania, FL 33004. Phone: 954-

Lauderdale, FL 33316. Phone: 954 609 9345; Fax: 954 252 4304. 926-0400, Fax: 954-921-2543. jdagostino@hmy.com.

philippe.guillemin@gmail.com

Ocean Independance has moved to 1600 S.E. 17th Street, Suite

Leah Welch, previously with Northrop & Johnson, is now with 416 Ft. Lauderdale, FL 33316. All contact numbers remain the same

Muston Group International. 1200 S. Miami Rd.,

Ft. Lauderdale, FL 33316. Phone: 954-462-4033;

Fax:1-954-462-4068. lwelch@mgiyachts.com









ON THE M

OVE



FYBA TAKING

NOMINATIONS FOR

BROKER OF THE YEAR AWARD

FYBA asks its members to take the time to consider nomi- Please email your nomination, along with a letter as to why

nees for the second annual Broker of the Year Award. The you believe that person should be nominated, to member-

award will be bestowed upon one eligible member who ship@fyba.org. The recipient of the award will be announced

exemplifies the characteristics and commitment that are at at the January 29 Annual Dinner Meeting.

the core of the FYBA beliefs. Nominees should be based

on the following criteria: John Weller of Allied Marine was presented with the first

annual FYBA Broker of the Year Award at the FYBA Annual

• Commitment to dedication, professionalism and Dinner Meeting on January 23, 2009. John was recognized

community service. for his dedication, professionalism and community service.

• An individual who has contributed their time and

service to the improvement of the Industry and

the Association. Thank You,

• Someone who sets a positive example for their

industry peers FYBA Board of Directors & Staff

• Someone who demonstrates leadership qualities

Offshore West (Dania Beach) is pleased to announce Tom George Yacht Group would like to announce sev-

the recent sale of a new, stock boat, a beautiful eral new World Wide Central Listings: 2009 Hatteras

Offshore 64’ Voyager sold by Rich Tighe, CPYB. The new 77' CV "The Daddy Rabbit", a 2009 60' Hatteras MY "The

owners have named their 64, INSIGNIA, and it will be located Traveller", a 2005 65' Marquis "Loan Ranger IV" and a 1999 63'

in Jupiter, FL. The 64 Voyager is Offshore’s newest and highly Sea Ray 630 SSS "Loan Ranger Six", as well as a 2004 Sea Ray

successful model, already sold out to Hull# 6. With big-beam 390 MY "Eclipse" and a 1999 58' Azimut "Carrera". With its

spaciousness, an extended cockpit, and improved efficiency, growing team, Jimmy Rogers, Rob Wojciechowski and Sandy

the 64V has been very popular with cruisers who want to go Battrick as Office Manager, not only is TGYG offering larger

further and stay longer. custom MY in the 80' to 112' range but also covering the market

in the smaller Sea Ray and Hatteras convertibles, Viking and

Northrop and Johnson Sales Division is pleased to announce Cabo lines.

new central listings offered by Kevin Merrigan of the Fort

Lauderdale office. Recently signed are GALLANT LADY the 168’ Classic Yachts International, Inc. is pleased to announce these

Feadship, SEVEN C’s the 124’ Delta and OLGA the 121’ recent sales in our Ft. Lauderdale and Ft. Pierce offices. Steve

Crescent. For additional details contact Central Agent Kevin Fithian, based in Ft. Lauderdale, sold a new 2009 Grand Banks

Merrigan at 954-522-3344 or kmerrigan@njyachts.com 59 Aleutian RP #30, a new 2008 Grand Banks 55 Eastbay SX

Northrop and Johnson Sales Division is pleased to announce #03, a new 2009 Grand Banks 47 Heritage EU #80, and a new

new joint central listings offered by Ann Avery of the Fort 2009 Grand Banks 45 Eastbay SX #25. Geir Ingolfsrud based in

Lauderdale office. Recently signed are INDEPENDENCE, the Ft. Lauderdale, sold a new 2009 Grand Banks 47 Heritage EU

174’ Perini Navi and METEOR, the 169’ Royal Huisman. For #72. Jonathan Wilkes based in Ft. Lauderdale, sold a new 2010

additional details contact Central Agent Ann Avery at 954-522- Grand Banks 47 Heritage EU #87. Jay Rhoades based in Ft.

3344 or aavery@njyachts.com Lauderdale, sold a new 2009 Grand Banks 47 Heritage CL #77.

Julee Jackson based in Ft. Pierce, sold a new 2011 Grand Banks

Northrop and Johnson Sales Division is pleased to announce 47 Heritage CL #92 at the recent 2009 Fort Lauderdale

new joint central listings offered by Mark Gibbons of the San International Boat Show. CYI’s Sales Team has also produced

Diego office. Recently signed are EXY JOHNSON, the 90’ twelve (12) brokerage sales from 32’ to 59’.

Brigantine, SEA BELLA, 88’ Azimut , and SCIROCCO, the 80’

Sunseeker. EXY JOHNSON is on the market for $3,800,000. IYC International Yacht Collection, LLC., Charter, Management

SEA BELLA, the 88’ Azimut recently launched in 2009, is ask- and Brokerage are pleased to announce the following news for

ing $6,750,000. SCIROCCO, the 80’ Sunseeker launched in the month of November - IYC-USA have added a motoryacht to

1998, is asking $1,650,000. For additional details contact their US central brokerage listings and sold two yachts - one

Central Agent Mark Gibbons at 619-226-3344 or mgib- from their US office and one from their office in Monaco: Kevin

bons@njyachts.com Bonnie's joint central listing M/Y RED SAPPHIRE was recently

sold. Built by Heesen Yachts in 1999, she is 128'3" (39.1m) in

Northrop and Johnson is delighted to announce the sale of length with a beam of 26'2" (7.98m). She can sleep 10 guests in

KAIKALA, 62’ Catana 582 by Michael Nethersole. For more 5 staterooms and has a crew of 4 in 2 cabins. Daryl Junck's cen-

information, please contact Michael Nethersole at +1 954 522 tral listing M/Y TRANSITION was recently sold. Built by

3344 or mnethersole@njyachts.com Derecktor in 1991 and a refit in 2008, the 74’8”an sleep up to 8

in 3 staterooms with a crew of 2 in 1 cabin. Mark Elliott's cen-

Merle Wood recent activity: New Central Agencies for Sale: 193’ tral listing , M/Y SYMPHONY II was recently added; M/Y SYM-

Austal Motoryacht, 2007 OUTBACK (Joint CA); 157’ PHONY II, is a GRP semi-displacement hull design and was built

Christensen Motoryacht, 2006 THIRTEEN; 126’ Christensen by Westport in 2001 and. She is 112' (34.14m) in length and has

Motoryacht, 1992 EMERALD ISLE; 112’ Leopard Motoryacht, a beam of 24' (7.32m). She sleeps 8 guests in 4 staterooms (1

2008 LA IGUANA; 92’ Palmer Johnson S/Y, 1985/08 IRISH- master, 2 doubles and a twin) and has a crew of 4. *Not for sale

MAN; 80’ Mangusta Motoryacht, 2005 HAPPY (Joint CA); 72’ to US residents while in US waters. Her asking price is

Merritt Motoryacht, 2002 PROMISE; 48’ Sea Ray Sundancer, $5,350,000 Tel. 954.522.2323 Email: info@iyc.com.

2008 FORTUNATE II. New Central Charter Agencies for Sale:

150’ Trinity Motoryacht MY IRIS; 75’ Sunseeker Predator, 2002 Symbol Yachts of Florida has become the exclusive representa-

MIA. Recent Sales: 156’ CRN Motoryacht, 1988/08 AZZURRA tive for Symbol Yachts providing new build sales and support to

II; 100’ Mangusta Motoryacht, 1995/06 USELESS; 76’ Lazzara clients in Florida and throughout the U.S. New 2010 inventory

Motoryacht, 1999 IMPETUOUS; 75’ Sunseeker Motoryacht, (Symbol 56 Yachtfish) is available for inspection in Fort

2005 MASSIMO; 58’ Bertram Motoryacht, 1979/07 SANDY JO. Lauderdale. Contact Jason Nasiatka for additional information,

954.805.7555 or jason@symbolyachtsFL.com.

RJC Yachts latest vessel for sale is WHITE STAR, a BWA Yachting is now expanding operations to the

112’ 2009 Westport. She is the most highly customized Caribbean. BWAYachting - Caribbean headquarters are

112’ Westport built to date. With a unique, modern and lux- in St. Maarten and will provide services in St. Thomas,

urious Robyn Rose interior and upgrades to include custom cher- Anguilla, St. Barth’s, Antigua and St. Lucia with a number of

ry joinery, onyx stonework and newly designed guest stateroom other Caribbean offices expected in the coming months. The

and crew layout. White Star is truly a vessel to be viewed, as first step has been finalized with the signing of an agreement to

she is the finest 112’ Westport currently available on the broker- purchase two leading yacht agents in St. Maarten, Super Yacht

age market. To view White Star, contact her central agent Bob Services owned by Lucille Frye, and Octopus Yacht Services

Cury at 954-525-7484 or rjcyachts@aol.com owned by James Roidis and Ralph Rivers. The St. Maarten office

will also serve as the Caribbean headquarters of BWA Yachting

Huish Marine Group, first time participants at FLIBS, displayed 3 from which all Caribbean operations will be managed. BWA

boats and we were very pleased with the traffic at our location and Yachting is opening Caribbean operations in partnership with

the leads to brokers. 103’ Johnson HUEY’S ISLAND and 84’ Jeff D. Boyd who has been appointed CEO of BWA Yachting –

Lazzara MISTRESS, both offered for charter, were previewed by Caribbean, responsible for development and management of

many local & out-of-town charter brokers. HUEY’S ISLAND (BVI operations. BWAYachting in the Caribbean can be contacted via

reg) is available for Bahamas and Caribbean charters while MIS- phone at: +599 545 2500, via e-mail at caribbean@bwayacht-

TRESS (US reg) is available for FL, Bahamas & Caribbean charters. ing.com, or info@bwayachting.com, and on the web at

www.bwayachting.com.

The Sacks Group Yachting Professionals (TSGYP) reported very

positive results following the Fort Lauderdale International Boat The 50th anniversary of the Fort Lauderdale International Boat

Show (FLIBS), October 29-November 2, 2009. A highlight was Show marked the launch of a dynamic new brand in the interna-

the “Yachting, It’s A Golden Life” VIP Party and Yacht Hop that tional superyacht industry: IMA Yachts. Created to fill the need

TSGYP hosted to celebrate the show’s Golden Anniversary. for a firm with the experience and expertise to serve as an advo-

TSGYP Charter and Brokerage team members did plenty of cate for luxury yacht owners throughout the entire lifecycle of

advance work to bring clients to the show, sending out more their vessel – from new construction and certification, to man-

than 200 information packages and 500 show tickets. Many of agement and operations, to refit and eventual resale – IMA

the firm’s clients also took advantage of TSGYP’s popular “Tour Yachts has evolved out of the established and respected Fort

the Show with a Pro” initiative, which invites clients to take a Lauderdale company, International Maritime Associates, LLC.

behind-the-scenes tour of yachts available for charter and/or Through its recent Strategic Alliance with The Sacks Group

brokerage with one of the firm’s experienced brokers or charter Yachting Professionals, IMA Yachts also offers Luxury Yacht

agents. The high point of any boat show is a chance to entertain Vacations, Charter Marketing and Yacht Brokerage Services.

your clients. So, TSGYP put all their creative efforts into throw- www.imayachts.com

ing a VIP Party for clients and friends. More than 200 people

turned out for this gala event, entitled “Yachting, It’s A Golden Dockwise Yacht Transport is featuring a very special voyage

Life”. At the end of the evening, Saia announced the lucky win- from St. Thomas to Newport, RI to Southampton (UK) to

ner of the party’s raffle – the prize was a three-night stay at one Toulon, France and on to Marmaris, Turkey onboard Super

of Ultimate Escapes’ 140 properties within their Destination Servant 4, which sails end of May through June, 2010. They

Clubs, a value of up to $6,000. are offering attractive prices and special discounts to those that

book early. Call toll free at 1-888-SHIP DYT (744-7398) or

BWA Yachting, is proud to announce it has signed an agree- email them at dyt.usa@dockwise-yt.com.

ment with IGY to be “preferred provider” in IGY marinas

throughout the Caribbean. The immediate focus will begin in Gail Forsyth has been named Vice President of Willis Marine,

Yacht Haven Grande in St. Thomas, Simpson Bay Marina and Superyacht Insurance. She will be responsible for building

Yacht Club at Isle de Sol in St. Maarten and Rodney Bay client relationships and servicing large, complex clients and

Marina in St. Lucia. IGY marinas are the most exclusive luxu- will report to North American Practice Leader, Nancy Poppe.

ry marinas in the Caribbean catering to vessels over 25m. Her appointment is part of Willis Marine’s strategy to expand

BWAYachting in the Caribbean can be contacted via phone at: its global Superyacht Insurance brokerage practice b y

+599 545 2500, via e-mail at caribbean@bwayachting.com, bringing together a team of strong industry professionals

or info@bwayachting.com and on the web at www.bwayacht- with clients worldwide.

ing.com.



Colonna Yachts new 1,000 metric ton Marine Travelift will be

operational in the spring of 2010. We are now taking orders for

April. We are very excited to offer this resource for large motor

and deep draft sailing yachts as a complement to our existing

floating drydocks and railways.

Global Satellite USA is pleased to announce the Burger Boat Company is pleased to announce it has

launch of the first digital voice and data solution that been awarded first place in Custom Woodworking

has been customized for a boat. For the first time, one can Business Magazine's 2010 Design Portfolio Award compe-

have a digital system that integrates with a satellite phone, a tition in the Architectural Millwork category. For the second

BGAN or Fleetbroadband system, SatCollect, internet, wireless year in a row Burger has also been recognized as the Overall

and GSM in one solution. For more technical information, Winner of the annual competition. These awards recognize both

please contact: Martin Fierstone at 954-854 3389 or the design and craftsmanship of the custom joiner work aboard

martin@globalsatellite.us SYCARA IV, a 151 ft. (46m) Classic Fantail Motor Yacht.



AAA Yacht Sales of Melbourne, FL has taken a bold step and The Marine Group is pleased to announce, that esteemed industry

expanded their business offerings into New England. AAA Yacht veterans Larry Masterman and Dean Young have joined our Palm

Sales Connecticut is located along the shoreline in West Haven, Beach office. You can contact them at the Palm Beach office 561-

CT. Overseeing the New England operation will be Michael 627-9500 or directly at:Larry Masterman Cell: 561-371-5090,

Kuzmuk, an industry veteran whose knowledge runs the gamut email: larry@marinegroup.com. Dean Young Cell: 561-301-

from high end motor yachts to inflatable boats/dinghies. AAA 7031, email: dyoung@marinegroup.com

Yacht Sales Connecticut will offer yacht sales and brokerage –

specifically buyer’s brokerage. AAA Yacht Sales Connecticut is Quarterdeck Yacht Brokers, LLC has opened at 340 S. Beach

located at 140 Capt. Thomas Blvd, Suite 211B, West Haven, CT Street, Suite 116, Daytona Beach. At the helm of the new compa-

06516. For more information call 203-415-3615 or email ny are Rich Baratha and Dennis Smith, who have 75 years of

Michael at mike@aaayachtsales.net or visit them at www.aaay- combined boating experience and 25 years in the yacht broker-

achtsales-ct.com. age business. They offer sales, insurance quotes, delivery

options and on-water instruction. For additional sales informa-

tion, contact Rich Baratha at (386) 795-2378.

FLIBS:

IT’S HARD WORK!



According to Show Management,

approximately 400 people are

employed during the Ft. Lauderdale

International Boat Show









Breaking down displays









Hard work on the docks!









Packing it up!

FORT LAUDERDALE

AN AURA OF

R E B I R T H AT

L AU D E R DA L E

TradeOnlyToday.com, Nov. 23, 2009

A new day seems to have dawned. Exhibitors at

the Fort Lauderdale International Boat Show cel-

ebrated not only the show's 50th edition, but also

a ray of real hope and a reprieve from the

unremitting bad news of the last two years.

Under sunny skies, with stocks ticking up and

the U.S. economy showing signs of life, show-

goers finally were in a mood to shop and even D.J. Kiernan of Feadship

buy again. Efrem "Skip" Zimbalist III, presi-

dent and CEO of Show Management, the

show's organizer, reported significantly fewer

small boats on display than last year, but a

record 155 yachts over 100 feet and a healthy

100 or so boats from 90 to 100 feet.



Attendance wasn't anything to write home

about - "flat to 1 percent over last year,"

Zimbalist says, which was off 4 percent from

2007. Despite to the flat attendance figures

and continued economic malaise, several ven-

dor were touting what turned out to be a good The girls from Atlantic Yacht & Ship

show. Viking Yacht reports nearly 5,000 peo-

ple visited its exhibit, featuring 13 yachts from

46 to 82 feet.



Boat introductions again were down from pre-

2008 numbers, but several builders unveiled new

models. Exhibit space at the Fort Lauderdale

Convention Center was scaled back significantly,

but some smaller builders there still reported

strong sales. The Sea Fox & Mariah Boat

Company reported a nearly 54 percent increase in

sales from the 2008 show. Most were cash buyers

and didn't need financing. Everglades Boats, which

builds saltwater fishing boats from 21 to 35 feet,

took 14 deposits.



Megayacht brokers, who have seen a 20 to 25 percent

sales decline during the recession, also were upbeat,

saying that despite the slow traffic, the quality of buy-

ers was great.





The Yachtcouncil Girls

COMMENTS:

INTERNATIONAL BOAT SHOW

“We had more qualified charterers

and owners than ever before in

attendance – another good indica-

tor that 2009 could wind up

being a good year, despite all the

dire predictions from last winter,

and 2010 even better.”

-Jennifer Saia, The Sacks

Group



“While overall attendance and

dock traffic seemed slower

than we had hoped, it seemed

like the "quality" of traffic

was very good. Qualified

prospects appeared to be

sensing rock bottom and

looking to buy back into the

market in 2010.”

-Andrew Parkinson, Merritt

Yacht Brokers



I felt overall traffic was

down, but Thursday and

Friday were excellent as far

as qualified prospects go.

MarineMax had a great

show. We sold some new

Hatteras and Cabo Yachts. I

personally had a great show,

putting three yachts under

contract. An 87’ M Y, a 57’

Bertram and a 40’ Cabo.”

-Mike Scalisi, MarineMax



“Show attendance was down

from last year but had a better

quality of prospects. I think

folks were realizing we’re bot-

tomed out and now is the time

to buy.”

-Rich Tighe, Offshore West



“This was one of my best

shows ever. I picked up

many new clients!”

Fraser Yachts -Tim Johnson, Palm Beach

Yacht Brokerage

• 25 PERCENT DECLINE IN NEW BUILD ORDERS



• 18.7 MILES - THE TOTAL LENGTH OF YACHTS

2010 order Book

REPORTED, NEARLY FIVE MILES LESS THAN

LAST YEAR



• ITALY REMAINS ON TOP, DESPITE STEEP

The 2010 Global Order Book (GOB)

DECLINE IN ORDERS compiled by Showboats International

• ORDERS FOR YACHTS IN THE 200+ FOOT

SEGMENT RISE 16%

features an annual report detailing the level of

• TURKEY REPORTS 28 PERCENT INCREASE yacht-building activity around the world.

IN THE TOTAL LENGTH OF ORDERS.



YACHT ORDERS BY YEAR

Some key excerpts from the

Order Book 2010 appear below



Not immune to the effects of the global economic crisis, the megayacht

industry saw a 25-percent decline in new build orders in the 12 months that

followed the September 2008 crash. Post-2009 Autumn boat show activity

indicates, however, that new build orders are on the rise. The 2010 GOB

shows a total of 763 large-yacht orders, representing a 25-percent decline over

the past 12 months.



Ups & Downs

New yacht orders were down in just about every size. The fall-off was the

greatest in the 80-100 ft. category, which saw numbers fall by 31 percent to

278 in the 2010 GOB from 403 last year. The upper end of the size range

did best, with orders for superyachts 200 ft. and up actually increasing by 16

percent over a year ago. Early in 2009, word began to spread that an unusu-

ally large number of existing orders were being cancelled as anxious yacht

The purpose of the report is to provide a body of data buyers walked away, unsure of their financial futures and worried that build-

- compiled in a systematic fashion at the same time ing a megayacht amid increasing global unemployment would be in bad

every year. The cutoff for the Order Book is taste. The decline lead to a nearly complete evaporation of new orders in early

September 1 each year. to mid-2009.

See SHOWBOATS INTERNATIONAL December / The Worldwide Yacht Industry

January 2010 issue for a complete report. Thanks A study done by research firm McKinsey & Company found that sales

to Showboats for sharing this information with from the world’s leading yacht manufacturers had fallen by 40 to 50 per-

FYBA members. cent and predicted that megayacht sales would take three to four years to

rebound even to 2007 levels.

Research & analysis by Louisa & Gary Beckett





TOP 10 BUILDER NATIONS TOP 10 BUILDERS BY PROJECTS









1. Italy 383 117’ 1. Ferretti Group 80 107’

2. United States 64 144’ 2. Azimut-Benetti 78 123’

3. The Netherlands 49 173’ 3. Sunseeker 58 96’

4. Germany 31 248’ 4. InRizzardi Group 45 94’

5. U.K. 68 99’ 5. FIPA Group 42 111’

6. Turkey 35 147’ 6. Sanlorenzo 36 107’

7. Taiwan 44 101’ 7. Horizon 22 104’

8. China 21 96’ 8. Trinity Yachts 17 176’

9. New Zealand 8 138’ 9. Gruppo Baglietto 16 131’

10. Brazil 10 100’ 10. Leopard Yachts 16 116’

shows declines due to economy crisis

BY THE NUMBERS



Top 3 Builders From 2008 Hit Hard

Few builders have been immune from the calamity, including the world’s

largest manufacturer of yachts 80ft. and up, Azimut-Benetti. The Italian 1. Lürssen 10 2,627’ 263’

group put it all in perspective in an earnings release issued on September, 2. Nobiskrug 5 1,148’ 230’

9, 2009, which called the previous 12-month period the most difficult in 3. Abeking & Rasmussen 6 1,365’ 228’

the megayacht industry’s history. Despite this, the CFO of Azimut Benetti 4. Oceanco 5 1,129’ 226’

said that the company is on solid financial footing. 5. Feadship 10 2,075’ 208

6. Trinity Yachts 17 2,989’ 176’

The downturn hit the world’s second largest builder, Ferretti, especially 7. Blohm + Voss 13 2,273’ 175’

hard. In April 2009, the Italian company received about $855 million 8. Perini Navi 9 1,512’ 168’

in funding from a variety of sources, including $92 million personally 9. Heesen 14 2,123’ 152’

from Chairman Norberto Ferretti. 10. Gruppo Baglietto 16 2,093’ 131’



Last year’s number three builder, Rodriguez Group, was so hard hit by

the downturn that it was forced to sever its marketing and sales relation-

ship with Arno Group and its Leopard line of superyachts. Rodriguez

fell to number 14 on the 2010 GOB Top 20 Builders list, based on the

total length of yachts on order.



However, the steepest declines were felt by the Netherlands and the

United States, where GOB orders tallied by total length fell by 37.3 and

36.6 percent, respectively.

Length in Feet 2010 2009 2008 2007 2006

Italy Maintains Its Lead While Other

80-89 187 286 253 207 216

Countries Climb Onto List

While Italy maintains its seemingly unassailable position at the head of 90-99 89 117 114 109 86

the Top 10 Builder Nations table every year, accompanied by the United

100-119 144 190 179 155 146

States, the Netherlands, Germany and the United Kingdom, this year

France and Russia dropped off the list and were replaced by New Zealand 120-149 150 193 175 152 110

and Brazil as the ninth and tenth largest builder nations, respectively.

150-199 112 145 125 108 90

Turkey bucked the worldwide decline trend by reporting a 28 percent

increase in the total length of order. 200-249 41 40 47 28 28

250+ 30 21 23 18 12









TOP 20 BUILDERS

TOP 20 BUILDERS

# of Total Avg. 2008 # of Total Avg. 2008

Projects Length Length Rank Projects Length Length Rank





1. Azimut-Benetti 78 9,602’ 123’ 1 11. Heesen 14 2,123’ 152’ 12

2. Ferretti Group 80 8,552’ 107’ 2 12. Gruppo Baglietto 16 2,093’ 131’ -

3. Sunseeker 58 5,549’ 96’ 4 13. Feadship 10 2,075’ 208’ 11

4. FIPA Group 42 4,651’ 111’ 6 14. Rodriguez (Overmarine) 15 1,868’ 125’ 3

5. InRizzardi Group 45 4,209’ 94’ 5 15. Leopard Yachts 16 1,850’ 116’ -

6. Sanlorenzo 36 3,848’ 107’ 8 16. Perini Navi 9 1,512 168’ 17

7. Trinity Yachts 17 2,989’ 176’ 10 17. Abeking & Rasmussen 6 1,365’ 228’ -

8. Lürssen 10 2,627’ 263’ 7 18. Westport 10 1,299’ 130’ 14

9. Horizon 22 2,287’ 104’ 16 19. Nobiskrug 5 1,148’ 230’ -

10. Blohm + Voss 13 2,273’ 175’ 13 20. Oceanco 5 1,129’ 226’ -

By Amber Ferry of Moore & Company, P.A.









Breach

M

ost yacht brokers are aware of their legal obligations

vis a vis their clients and various other entities

involved in a yacht sales transaction. In fact,

Florida’s Yacht and Ship Broker’s Act, Fla. Stat. §326.001 et

seq., and the regulations established pursuant thereto,

expressly spell out many of those obligations. Specifically,

Fla. Stat. §326.005 sets forth a yacht broker’s obligation to

deposit funds received pursuant to a transaction into an

escrow account with a qualified financial institution “until

he or she disburses such funds.” Unfortunately, however, it

does not provide any guidance regarding how a broker who’s

wearing a dual hat as an escrow agent for a particular trans-

action should resolve disputes between the Buyer and the

Seller regarding whether and when the Seller is entitled to

disbursement of the funds or the Buyer is entitled to return

of the funds. Further complicating matters is the fact that,

while acting in his broker capacity a party to a transaction

typically expects that the broker owes his loyalty to the party

he’s representing; however, the law establishes that escrow

agents owe their duties to both parties to the transaction.

This can lead to uncomfortable situations in which a broker

is subject to conflicting duties





For example, situations sometimes arise where the Seller

demands the funds held in escrow be delivered to him after a

closing has taken place, but the Buyer claims that the closing

was defective and therefore demands return of the funds held

in escrow, seeking to void the transaction. The Buyer’s

motive might be benign, such as where he is truly of the opin-

ion that he did not receive the vessel he bargained for pur-

suant to the purchase and sale agreement. Or it could be as

malevolent as an intention to use the uncertainty inherent in a

situation where he has taken delivery of the vessel but has

directed the escrow agent not to disburse the funds to the

Seller for the improper purpose of seeking to extort a lower

price than he previously negotiated from the Seller. Because

an escrow agent owes duties to both parties to the transaction

regarding retention and disbursement of the funds, when the

escrow agent is also the listing broker, the law places the bro-

ker in a situation in which he must choose between exercising

his broker’s loyalty to the Seller by disbursing the funds to the

Seller pursuant to the Seller’s position that effective transfer

of the vessel has already occurred, and exercising the duty he

owes to the Buyer as escrow agent to retain or return the funds

pursuant to the Buyer’s position that transfer of the vessel was

not effective. In this unfortunate situation, the listing broker

usually does not have the luxury of waiting until a court has

determined which party is entitled to the funds, usually on an

action brought by one party against the other for breach of the

purchase and sale agreement.

Avoiding Broker Liability For

of Duty of Escrow Agents

According to the case law that has developed regarding the would be to either include a clause in the purchase and sale

duties of escrow agents, escrow agents undertake a legal obli- agreement governing how the broker/escrow agent will resolve

gation to (1) know the provisions and conditions of the princi- a dispute in which both Buyer and Seller claim they are enti-

pal agreement concerning escrowed property (in this case, usu- tled to the funds at issue, or the broker acting as the escrow

ally the purchase and sale agreement) and (2) to exercise rea- agent can enter into a separate agreement with the Buyer and

sonable skill and ordinary diligence in holding and delivering Seller governing how to resolve the dispute. In this way, the

possession of the escrowed property (i.e., to disburse the broker can protect himself for liability for refusing to disburse

escrowed funds in strict accordance with the principals’ pri- the funds to either party, or from disbursing the funds to the

mary agreement). This places the broker in the uncomfortable party which ends up being the wrong party under the law, and

position of having to be the judge who decides which party did can also require that the Buyer and Seller, or prevailing party,

not act in compliance with the purchase and sale agreement. fund any attorney’s fees and costs the broker may incur during

Moreover, if the listing broker refuses to release the funds to the course of resolving the dispute.

either party, he could face legal claims by the Seller that he

breached his fiduciary duty as broker to the Seller by refusing There are other ways the broker can protect himself as well, such

to disburse the funds when there was no real dispute as to as by designating a third party to act as the escrow agent, there-

which party was entitled to receive them. While the law rec- by avoiding any potential claims arising out of conflicting

ognizes that escrow agents often have other relationships with duties. Whatever solution the broker chooses, the broker should

the parties to a transaction which establish separate duties be aware of what his duties are under the law regarding any

owed by the escrow agent to the party he represents, such as a role(s) he assumes so he can engage in an informed cost/benefit

broker/client relationship or an attorney/client relationship, it analysis regarding how he wants to structure his business rela-

holds that a new and separate legal relationship between agent tionships in regard to a particular transaction at issue.

and principal is established when that agent becomes an

escrow agent. However, it does not provide much guidance for *The information offered in this column is summary in nature and should

how the broker/escrow agent should resolve a conflict between not be considered a legal opinion.

the duties it owes as escrow agent and the duties it owes in its

other representative capacity.. Amber Ferry is an attorney at Moore & Company, P.A. ("www.moore-and-

co.net), a law firm specializing in maritime and aviation law with offices

Since the law does not provide an easy answer for how the bro- in Miami (Coral Gables), Florida. Contact amber.ferry@moore-and-

ker should resolve such a conflict, the best course of action co.net / (786)221-0600.









GROUP FORMED FOR

YOUNG YACHTING PROFESSIONALS

Young Professionals in Yachting is a new group formed to help young professionals succeed in the yachting industry. "The

goal is for young professionals to have a place and identity of their own in the yachting industry, with emphasis on building

long-lasting partnerships between our members, other industry veterans, and related groups and associations along the way,"

YPY president D.J. Kiernan said in a statement.



Revenues from YPY fund-raising activities will benefit local charities such as the Freedom Waters Foundation, which provides

boating opportunities and marine related education for people with disabilities and youth at risk, and Boys & Girls Clubs of

America, which enables young people to reach their full potential as productive, caring, responsible citizens.



Membership is limited to business professionals within the yachting industry between the ages of 21 and 35. For more infor-

mation, visit www.youngprofessionalsinyachting.org.

FYBA

BULLETIN BOARD CPYB MEMBERS

The following members are CPYB’s:

Yacht Brokers: Edwards Yacht Sales needs 3 Yacht Brokers. Ft.

Lauderdale, St. Petersburg, and the Keys. Experience preferred, but

will train. Business has rebounded! Aggressive advertising pro- Jack Anderson* Jason Lozeau

gram, bonus’s and group health plan. If you have ever wanted to Bob Anslow Charles MacMahon

be a Yacht Broker, call today for a confidential interview with Roy James Azzolini Timothy Malambri

Edwards, 727-507-8222. Yachts@EdwardsYachtSales.com John Buchanan Keith Maling*

Christopher Burkard Jason Mashke

Yacht Broker/Salesperson: Pier One Yacht Sales, located at Jonathan Burkard* Alex Matheson

Fisherman’s Village in Punta Gorda, FL is looking for an experi- Christopher Carrere R.T. McCormick

enced, licenses yacht broker or salesperson to sell new, pre-owned Jonathan Chapman William McCormick

and brokerage yachts. Pier One Yacht Sales is also a dealer for John Ciullo Paul McFadden

Navigator Yachts, Californian Yachts. Fax resume to 941-766- Alexander Cochran Ronald McTighe*

7443. All inquiries kept confidential. George Coggeshall Ted Meljac

Matthew Condon Kevin Merrigan*

Yacht Broker: A Large very well known European boat dealer with Joe Costa Lee Messina

flybridge and express model boats, is looking for an experienced Brad Crabtree Andrew Miles

Yacht Broker with following. Our location is THE BEST LOCA- Voorhees "Doc" Craig Gary Monnell

TION imaginable with walk-in's all the time. Great Pay Rate. Great Brian Dekkinga Jeffrey Partin

Service Department, Great Location. Great Corporate Francisco DeVarona Juan Pasch

Communications. Response will be kept in the strictest confidence. Steven Doyle* Yolanda Phinney

Fax resume or interest letter with history to: 954-476-5505. Brian Duffy Charles Pickover*

Carey English* Thomas Pride

Yacht Brokers: Huish Marine Group is seeking additional bro- David Erdman* Scott Pursell

kers to join our Ft. Lauderdale team. All inquiries kept strictly Tucker Fallon Leslie Quarrier*

confidential. Contact Andre Hardy or John Huish at 954-527-4211 Brian Franc James Rabenstine

or e-mail info@huishmarine.com. Gary Fretz* Ken Reda

Carmine Galati* Ronald Rickard

Yacht Brokers: Yacht Depot, dba "Prout Catamarans" is look- John Gear* Rebecca Riley*

ing for a few good brokers who know how to close. Last month David Gennett Charles Royhl

we sold $10.6MM in new yachts. We offer a favorable internal Tom George* Jeff Rummel

brokerage commission split. Power and sailing catamarans/ Randall Greenfield Mike Sampson

wavepiercers are where the action is, so contact Gary Fretz now at Peter Grimm

Eric Sass

954.609.6282 or at bigyachts@gmail.com as the first guys to join Franklin Hamilton

up get first dibs on sales leads. We also have an exclusive line of William Harris Jon Schwalback

fine classic trawler yachts 36'-60' built in China. Brian Hill* Pep Shappee

David Hirshberg Larry Smith

Yacht Broker: Luke Brown Yachts is seeking to add another Gary Hirshberg Gary Smith*

experienced broker to join our team. Applicant must be hard Ronald Hirshberg Gregg Somerville

working, possess extensive product knowledge, and be able to Tom Horvath Stephen Sprigg

obtain quality listings. All applications will be kept confidential. Michael Howerter JoeStetson

Contact Andrew Cilla at andrew@lukebrown.com. Daniel Howland Michael Stevenson

Stan Hoynowski Dianne Stigall

Charter Broker: HMY Yacht sales is currently seeking experi- Lee Hutton Richard Tighe

enced charter broker to be based out of Dania. Contact John Dennis Kennedy* David Tomen

D’Agostino 954-650-3379 or email resume to Whit Kirtland Staley Weidman

jdagostino@hmy.com. All inquiries kept confidential. Richard Kniffin Charles Whiteaker*

Kniffin Marine Peter Wiersema

Documentation Agent: ASAP Marine Documentation is search- Andrew Kniffin* Jack Zacks*

ing for a Documentation Agent to join our team after January 1st. Tony Kordowski Joseph Zammataro

Candidate must have at least 5 years experience in the marine indus- Pete Kostuk Bob Zarchen

try (preferably previous Documentation Experience), able to type at Alan Learch

least 60 wpm (tested), expert Word/Excel/Outlook skills, non-smok-

er, excellent customer service, and extraordinary follow up skills.

Must live locally to be considered. Email your resume & salary

requirements to jobs@asapmarinedocs.com. No calls or placement

services please.

2010

CAC CONFERENCE

RECAP

The Advisory Council (CAC) of the Yacht Broker Certification Program,

the governing body which oversees the Certified Professional Yacht

Broker program (CPYB), met in Annapolis, MD on November 18-20,

2009. The advisory council is comprised of representatives from all

seven associations in the program, Yacht Brokers Association of

America (YBAA), Florida Yacht Brokers Association (FYBA), Northwest

Yacht Brokers Association (NYBA), California Yacht Brokers

Association (CYBA), Boating Ontario Dealer, Gulf Coast Yacht Brokers

(GCYB), and British Columbia Yacht Brokers (BCYBA).



The three day meeting focused on promotion of the CPYB certified bro-

ker through new marketing ideas, the creation of a continuing education

committee to aid in gaining recertification credits, and extensive devel-

opment of new exam questions. With the addition of the two newest

association members, Gulf Coast and British Columbia, new ideas were

stimulated and growth of the program was promised. To complete the

meeting, CAC members enjoyed a relaxing dinner at the Annapolis

Yacht Club.



Established in 2000, in partnership with YBAA, FYBA, and NYBA,

the CPYB is now comprised of all 7 yacht brokerages. It currently

boasts 494 members who have earned their CPYB designation by

meeting the qualifications for certification including achieving a

passing grade on the three hour CPYB exam. For further information

on the CPYB program visit the website www.cpyb.net.

2009 YEAR-END

For Businesses:

Tax planning for year-end 2009 presents new opportunities and new

challenges for business taxpayers to reduce or defer federal income tax

liability. Although traditional planning techniques remain fundamental-

ly important considerations this year, there are new opportunities with

recent legislation and changes in the tax laws. In addition, tax planning

is complicated with the anticipation of tax laws that may be put to a

vote in Congress before year’s end and the unknown status of those pro-

visions that are scheduled to expire this year.



Some of the highlights of 2009 tax law may have a significant effect on

your tax planning or compliance. 1.) IRS has allowed investment losses

in fraudulent Ponzi schemes, i.e., Madoff, Stanford, Rothstein, to be

deducted as a theft losses not subject to the 10% normal limitation for

theft losses. Investment losses are generally capital losses limited to

$3,000 per year; 2.) Required minimum distributions (RMD) from a qual-

ified plan are waived in 2009 but will resume in 2010; 3.) Net operating

losses incurred in 2009 may be carried back up to 5 years, but only if the

election is made on a timely filed return for 2009. Therefore if you will

have a net operating loss in 2009 you will need to have your return pre-

pared early enough so that you can plan whether it is more advantageous

to carry back 2, 3, 4, or 5 years or whether it would be preferable to car-

ryover the net operating loss and make that election with the filing of

your 2009 return. There are many more tax law changes which may affect

you. Some of them are included in this article.



As a trade or business, you have the option of depreciating an addition-

al 50 percent of the cost of an asset in the first year if it is acquired and

placed in service through 2009. Alternatively, Code Sec. 179 allows

you an election to expense, rather than capitalize and depreciate, assets

placed in service. This expensing deduction has been temporarily

increased to $250,000, with a phaseout investment amount of

$800,000, for qualifying property placed in service for tax years begin-

ning in 2008 or 2009.



Income from the discharge of debt in connection with the reacquisition

before January 1, 2011, of business debt instrument may be includable

in gross income ratably over a five tax years.



The work opportunity tax credit is equal to 40% of the first $6,000 of

wages paid to the individual during the first year of employment. This

includes returning military veterans.



For tax years beginning in 2009 and 2010, no tax is imposed on an S

corporation’s net unrecognized built-in gains if the seventh tax year in

the corporation’s 10-year recognition period preceded its 2009 or 2010

tax year.



For C corporations only, an enhanced deduction for donations of book

inventory is allowed when made to public schools, or a qualified chari-

ty or private operating foundation for use in the care of the ill, the needy

or infants before January 1, 2010.



A deduction is available for certain energy efficiency improvements

installed before January 1, 2014. This deduction applies to property

By: Dan Ehmke



TAX PLANNING daniel@ehmkecpa.com







installed as part of a building’s interior lighting systems; heating, investment (Ponzi) schemes

cooling, ventilation, and hot water systems; or envelope, as part of Qualified mortgage insurance premiums obtained in connection with

a plan to reduce total energy and power costs of the system as least acquisition indebtedness

50 percent. The deduction is limited to $1.80 times the total square Computer equipment and technology, and internet access and related

footage of the building. service costs are qualified higher education expenses for qualified

tuition programs for 2009 and 2010

The Worker, Homeownership, and Business Assistance Act of 2009

allows businesses of all sizes to elect to carryback a net operating Tax Credits:

loss to up to five years for 2008 and 2009. The American Opportunity Tax Credit replaces the Hope Scholarship

Credit for 2009 and 2010, and now applies to the first four rather than

In addition, businesses may benefit from a review of the independent the first two years of a student’s post-secondary education. The maxi-

contractor vs. employee classification because it affects both the mum credit is increased to $2,500 per eligible student.

worker and the employer. A worker’s classification determines who The refundable earned income credit is increased to a maximum of

is liable for employment taxes. Misclassification can have serious $5,657 for qualifying families with three or more children.

tax consequences. Beginning with purchases after December 31, 2008, the maximum

first-time homebuyer credit (FTHBC) amount is increased to $8,000

For Individuals: ($4,000 for married separate filers). The FTHBC is extended by the

Many of the tax breaks in recent stimulus tax bills are due to expire Worker, Homeownership, and Business Assistance Act of 2009 (2009

at the end of this year. Since it is uncertain whether Congress will Worker Act) to include qualifying purchases after April 9, 2008, and

extend any or all of the expiring tax incentives, taking advantage of before May 1, 2010. In addition, for 2009 and 2010, the 2009 Worker

this tax relief while it is still available should be considered. Some Act waives the recapture of the credit if the home is used as a princi-

tax incentives that are set to expire include: pal residence for at least three years.

Certain government retirees can claim a refundable $250 tax credit

the above-the-line deduction for teachers’ classroom expenses; ($500 on a joint return if both spouses are eligible).

the above-the-line higher education tuition deduction; A refundable Making Work Pay Credit (MWPC) is advanced to eligi-

the additional standard deduction for real property taxes; ble workers, generally through reduced income tax withholding. The

the AMT exemption amount patch; MWPC is equal to the lesser of 6.2 percent of earned income, or $400

the itemized state and local sales tax deduction; ($800 for married joint filers).

the moratorium on required minimum distributions (RMDs); The refundable portion of the child tax credit (CTC) is increased to

the motor vehicle sales tax deduction, which applies to qualified new 15% of earned income in excess of $3,000.

vehicle purchases after February 16, 2009 and before January 1, 2010; The credit for nonbusiness energy property (CNEP) is extended

tax-free IRA distributions to charity; through 2010, and the credit amount increases from 10 to 30 percent

the nonrefundable tax credit offset of regular and AMT tax liability; of qualified energy efficiency improvements (including doors, win-

and COBRA premium assistance for unemployed workers who are dows, furnaces, central air conditioners, water heaters, heat pumps,

involuntarily terminated between September 1, 2008 and biomass stoves, and certain asphalt roofs) limited to $1,500.

December 1, 2009. Theses bullet points are only meant to make you aware there are spe-

cial provisions that may affect you or your business. You should do

A variety of popular tax exclusions, deductions and credits for indi- further reading and contact your tax professional to determine whether

viduals were provided, extended or enhanced by the American any of these provisions may help you reduce your taxes to the mini-

Recovery and Reinvestment Tax Act of 2009 (2009 Recovery Act), mum with all the exclusions, deductions and credits you are legally

as follows: allowed to claim.



Exclusions from Income: Managing the income that you recognize or defer in 2009 may be ben-

Discharged principal residence indebtedness of up to $2,000,000 eficial, but with tax reform on the horizon, balancing tax rates

($1,000,000 for married separate filers) between 2009 and 2010 and beyond becomes more difficult. Proposed

$250 economic recovery payments increases in income and capital gain tax rates for 2011 make the tradi-

Increased $460 per month limitation for transportation fringe bene- tional year-end strategy of deferring your 2009 income into 2010 less

fits offered by an employer attractive. Deferring too much income could result in excessive

Exclusion of the first $2,400 (per person) of unemployment com- income in 2010, especially if you also accelerate 2011 income into

pensation benefits received 2010 to escape higher rates in 2011.

The percentage of exclusion is increased to 75% for sales of small

business stock acquired after February 17, 2009 and before January Tax planning involves not only planning for the current year, but also

1, 2011 (stock must be owned and held for more than five years). making wise tax decisions that will benefit your business for years to

Deductions: come. A further review of your options now could identify what you

Safe harbor method to calculate theft loss deduction for fraudulent can do to save money on your 2009 tax bill and plan for the future.

FYBA 2009-2010

DIRECTORY

In Memoriam CORRECTIONS

Lorna L. Erdmann The following are corrections to information published in the directory.



October 20, 2009 Jason Nasiatka, Symbol Yachts of Florida

Lorna. L Erdmann passed away on the morning of Tuesday, P: 954.805.7555

October 20th due in part to complications associated with dia-

betes. Lorna was the mother of FYBA member and Board mem- Howard Donhauser, DYB Charter & Yacht Sales

ber, Jeff Erdmann. In efforts to cure this terrible disease, the

P: 386.409.0854

family is asking for donations towards the Juvenile Diabetes

Research Foundation, the leading funder of type 1 diabetes. To F: 386.409.0854

make a donation, please call the South Florida office at 954-565-

4775 or 305-350-9990. You can also mail your donations to Karen Kelly, All Yachts Worldwide

3411 NW 9th Avenue, Suite 701, Fort Lauderdale, FL 33309. 2200 S. Ocean Lane, #1403

Ft. Lauderdale, FL 33316









FYBA SENDS GET WELL WISHES TO PAT MOSS

FYBA would like to send sincere get well wishes to Pat Moss. Moss, Belfast, Maine and severly attacked the evening of November 24.

who used to work for Fraser Yachts, was kidnapped from her home in She will be returning to Ft. Lauderdale to recover from her injuries.

PLATINUM SPONSORS

MOORE & CO

W ESTPORT

BAND SPONSOR

BANK OF AMERI CA









FRIDAY, JANUARY 2 9 T H , 2 0 1 0

IGFA FISHING HALL OF FAME & MUSEUM

300 GULF STREAM WAY, DANIA BEACH

7 : 0 0 P M – 11 : 0 0 P M







Company Name





Address





Phone Fax





Name(s) Name(s)





Name(s) Name(s)





Please reserve places for the Jan. 29th Dinner Meeting. The member

price with one guest is $50 per person, the non-member price is $200 per person



Please bill my credit card # @ $50 # @ $200 Total amount $



If you would like to bill the amount due to your credit card, _ Visa _ MC __Amex

please complete the following information:





Credit Card Number Expiration Date





Billing Address/City/Zip Code CVV Code

(3 digits on back of card)







Name (as it appears on card)



Cocktail Reception 7pm • Dinner & Dancing 8:30pm-11pm

Attire: Elegant Island Casual • RSVP by Jan. 22nd

Cancellations should be made 24hrs in advance,

no shows will be billed!



Please return with check to:

FYBA • P.O. Box 460550, Ft. Lauderdale, FL 33346

Professional Membership Charter Professional Membership

For Professional Yacht Brokers and Salesmen who are bonded and For individuals and/or businesses directly related to the charter yacht industry.

licensed by the State of Florida under the Yacht and Ship Brokers Act.

ACTIVE CHARTER PROFESSIONAL The owner, princi-

ACTIVE The owner, principal, stockholder partner or officer

pal, partner or manager of the firm directly related to the charter yacht industry.

Annual dues: $200 (Complete Section A of application)

of the firm. Current "Employing Brokers" license in Florida. Sponsorship requirements: Two (2) “Active” Professional members

(Complete Sections A-C of application)

Annual dues: $200 ASSOCIATE CHARTER PROFESSIONAL

Active Professional Sponsorship requirements: Other employees of the firm directly related to the charter yacht industry.

Two (2) “Active” Professional members Annual dues: $75 (Complete Section A of application)

Sponsorship requirements: Two (2) "Active" or "Assoc."

ASSOCIATE Other sales personnel associated with the firm. Current Professional, Charter Professional or Affiliate members.

"Broker" or "Salesman" license in Florida. (temporary license not eligible)

(Complete Sections A-B of application)

Annual dues: $75

Affiliate Membership

Associate Professional Sponsorship requirements: For individuals and/or businesses directly related to the yacht brokerage industry.

Two (2) “Active” Professional members

ACTIVE AFFILIATE The owner, principal, partner or manager of



SUPPORT Unlicensed employees of Professional member's firm

the firm directly related to the yacht brokerage industry.

Annual dues: $300 Complete Section A of application)

(Complete Section A of application)

Sponsorship requirements: Two (2) "Active" or "Assoc."

Annual dues: $25

Professional or Affiliate members.

Support Sponsorship requirements:

Two (2) “Active” or “Assoc.” Professional members.

ASSOCIATE AFFILIATE Other employees of the firm directly

related to the yacht brokerage industry.

Annual dues: $75 (Complete Section A of application)

Sponsorship requirements: Two (2) "Active" or "Assoc."

Professional or Affiliate members.









FYBA with YPI Owns the Yacht & Brokerage Show (held mid February in Miami)

OBJECTIVES

To unite those engaged in the yacht brokerage business for the purpose

MEMBER SERVICES

of promoting cooperation and professionalism among its members. & BENEFITS

• Arbitration service for members

To promote & maintain a high standard of conduct in the transacting of • Legislative action committee

the yacht brokerage business in accordance with the FYBA Code of Ethics. • Educational seminars

• Social events and charitable functions

MEMBERSHIP REQUIREMENTS • Monthly newsletter

Professional Members must be Licensed and bonded by the • Standardized business contract & forms

State of Florida under the Yacht and Ship Brokers Act. • Published membership roster

• National advertising

Charter Professional Membership Class is for individuals and • Trade only Boat Shows

companies directly related to the charter yacht industry. Bahia Mar (7 per year)

• Member of the Int’l Yacht Council Ltd.

Affiliate Membership Class is for individuals and companies • FYBA Website

directly related to the yacht brokerage industry. • YS&L Seminar

• Listing to Closing - Ft. Lauderdale &

CURRENT MEMBERSHIP - 1100 plus Members West Coast FL

While the majority of its membership is comprised of Florida based • Charter “Open House”

brokers, there is also representation from prominent firms located • Certified Professional

throughout the world. Yacht Brokers Program

PROFESSIONAL Professional Active $200 Professional Associate $75 Support $25

CHARTER Charter Professional Active $200 Charter Associate $75

AFFILIATE Affiliate Active $300 Affiliate Associate $75



Applicant

First Name M.I. Last Name





Company Name Position





Company Address Fla. License No. Broker

& Expiration Date Salesperson

City State Zip Web Site E-mail









SECTION A

Phone Fax Type of Business





Home Address City State Zip Home Phone





Sponsors

Name Firm Phone Sponsor Signature





Name Firm Phone Sponsor Signature





Business References

Firm Contact Name Phone





Firm Contact Name Phone







Personal Data

Have you been engaged continuously in the business since? Yes No









SECTION B

If not, during what years were you in business?

Highest level of education First entered yacht brokerage business (date/firm)





List any firms previously associated with In what other business have you been engaged?





Active Professional Federal ID# Fl. Sales Tax# City Occupational License

Members Only

Institution in which you maintain your escrow/trust account List branch/franchise offices, addresses, & manager’s names





If a Corp./Partn., list officers, partners, & stockholders State names of any salespersons associated with you

Name Position Name Name SECTION C



Name Position Name Name





Do you currently represent any new boat manufacturer? Yes No Percentage of new

If yes, list manufacturers: sales vs. brokerage

How did you hear about the FYBA?





I agree that, if approved for membership to the Florida Yacht Brokers Association, Inc., Check for $ ________ enclosed payable to FYBA

to abide by the By-Laws and Code of Ethics of the Association, a copy which I have read.

P.O. Box 460044, Ft. Lauderdale, FL 33346

Phone: 954-522-9270 Fax: 954-764-0697

Applicant’s Signature Date e-mail: fyba@fyba.org • www.fyba.org

CALENDAR



DECEMBER



4-8 Anitgua Charter Show



6-9 St. Maarten Charter Show

12 Winterfest Boat Parade



25 Christmas Day



J A N UA RY

Wishing You a Joyous

13 2nd Wednesday

Holiday Season Charter Open House



& 21 3rd Thursday Brokers

Open House

Happy New Year 29 Annual Dinner Meeting





F E B RUA RY



From FYBA Board of Directors & Staff

11-15 Yacht & Brokerage Show

President Bruce Schattenburg,

Vice President Crom Littlejohn,

Treasurer Bob Zarchen & Secretary Lon McCloskey

Directors: Georges Bourgoignie, Jason Dunbar,

Jeff Erdmann, Paul Flannery, Tom George,

Whit Kirtland & Gary Smith

Staff: Rae Whitt & Randi Myers









ALE

D ERD

T LAU

OR

T - F

WHIT

© 20 09 MIKE



C O N TA C T:



PO BOX 4 6 0 0 4 4

F T. L A U D E R D A L E , F LO R I D A 333 4 6



9 5 4 . 52 2 .9 2 70 T E L / 9 5 4 . 76 4 . 0 6 9 7 FA X



W W W. F Y B A . O R G / F Y B A @ F Y B A . O R G