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Fenech & Fenech Advocates

The Annual Dubai Boat Show Leisure Yachting Conference took place on 18 February 2025 at The Westin Mina Seyahi, marking the launch of the 31st edition of the <a data-gid="gid://syiq/Event/258" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai International Boat Show - 2025">Dubai International Boat Show</a>. Industry leaders, yacht owners, and marine professionals gathered to explore the evolving landscape of luxury yachting, with discussions focused on design innovation, emerging markets, and the future of sustainable and experiential ownership.<img src="https://photo-assets.superyachttimes.com/photo/351903/image/large-e7b9a28cebc433e24c685d0110a08244.jpg" data-gid="gid://syiq/Photo/351903">Arabian Gulf's Ascension&nbsp;The conference opened with Arabian Gulf's Ascension, a session that examined the Gulf’s growing prominence as a yachting hub. Dubai continues to lead the regional yachting sector with its world-class marinas, brokerage services, and luxury developments, reinforcing its status as the gateway to the Gulf’s expanding leisure marine market. Saudi Arabia also emerged as a rising destination, with the Red Sea Project, Amaala, and <a data-gid="gid://syiq/Company/7371" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="NEOM (Company)">NEOM</a> unlocking new yachting corridors. Abu Dhabi’s introduction of SHA Wellness Island at Al Jurf further positions the Gulf as a wellness and leisure destination for yacht owners.Wayne Shepherd, General Manager of <a data-gid="gid://syiq/Company/6804" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Dubai Harbour Marina (Company)">Dubai Harbour Marina</a>, highlighted how geopolitical stability in the UAE is driving greater interest in secure Gulf waters. Despite global economic uncertainties, the Middle East and Africa yacht charter market is projected to grow at a compound annual growth rate (CAGR) of 5.9% through 2031, with Dubai, Saudi Arabia, and Abu Dhabi at the forefront of this expansion.Captain Patricia Caswell, General Manager of Superyacht Service Centre by <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a>, and Gregor Stinner, CEO of Arte Di Mare, shared insights on how shifting geopolitical tides are influencing yachting routes and regional market growth. The session was moderated by Neity Maddock, Luxury &amp; Hospitality Specialist at Twenty20, who steered the discussion towards the strategic importance of the Gulf in the global yachting industry.<img src="https://photo-assets.superyachttimes.com/photo/351888/image/large-d9349b12b3309415ef5904e12c6aa481.jpg" data-gid="gid://syiq/Photo/351888">Market Navigators The Market Navigators panel explored the latest trends in yacht transactions, including a notable rise in discreet, off-market sales. The influx of millionaires into Dubai is driving increased yacht ownership, while fractional ownership is gaining traction as a flexible and cost-effective option for luxury buyers. James Jaffa, Founding Partner of <a data-gid="gid://syiq/Company/6454" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Jaffa & Co (Company)">Jaffa &amp; Co</a>, noted that a 20% surge in off-market sales reflects growing demand for exclusive and private transactions. Bespoke financing solutions are also unlocking new opportunities for yacht ownership and investment across the region.Jo Assael, Yachts Commercial Director at IRI / Marshall Islands Registry, and Alison Vassallo, Partner at <a data-gid="gid://syiq/Company/4175" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fenech & Fenech Advocates (Company)">Fenech &amp; Fenech Advocates</a>, offered insights into how regulatory frameworks and innovative financial models are shaping the market. Mohamed Al Zaabi, Founder and CEO of <a data-gid="gid://syiq/Company/4686" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Royal Yachts Dubai (Company)">Royal Yachts</a>, highlighted the role of regional infrastructure development in sustaining market growth. The session was moderated by Maria Alekseenko Magan, Founder of Experiential Yachting, Monaco, who directed the conversation toward future market opportunities and challenges.<img src="https://photo-assets.superyachttimes.com/photo/351889/image/large-61b549c33a7ad300290275566375c3d9.jpg" data-gid="gid://syiq/Photo/351889">Navigating the Future AI and automation took centre stage during Navigating the Future, where a live demonstration showcased AI-driven navigation and autonomous docking technology. Christian Gumpold, CEO of Migaloo Private Submersible Yachts, highlighted how AI is enhancing yacht performance, safety, and guest experiences. With the autonomous yacht market projected to reach $165.61 billion by 2030, early adoption of AI is expected to become a key differentiator in the competitive luxury market.The session, moderated by Figen Ayan, Founder of Ayan Consulting, France, examined how AI-driven design, crewless cruising, and autonomous systems are setting a new course for the future of luxury yachting.<img src="https://photo-assets.superyachttimes.com/photo/351892/image/large-6df2df4ac2d19c05fdd8313b1d840c2e.jpg" data-gid="gid://syiq/Photo/351892">Ocean-Positive Yachting Sustainability emerged as a defining theme in Ocean-Positive Yachting, where industry experts examined how green technology is reshaping luxury at sea. Nicolas Lapp, Co-founder of <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a>, discussed the shift towards hydrogen propulsion, bio-composites, and circular design as essential components of future-proofing yachts. Michael Mifsud, CEO of Yachting Malta, underscored the importance of sustainable innovation in maintaining long-term market viability.The session was expertly guided by Figen Ayan, who steered the conversation toward the evolving expectations of eco-conscious yacht owners and the rise of ocean-positive vessels designed to restore marine ecosystems.<img src="https://photo-assets.superyachttimes.com/photo/351890/image/large-38132fcfd416bf1d561c1af7720bd18b.jpg" data-gid="gid://syiq/Photo/351890">Simulated Cyberattack A simulated cyberattack session underscored the growing importance of cybersecurity in the yachting sector. Sali Osman, a leading expert in maritime security, highlighted how AI-driven systems and smart navigation technologies are enhancing onboard security. With maritime cybersecurity projected to grow to $9.8 billion by 2030, robust protocols and enhanced security measures are becoming essential for protecting high-value assets and ensuring safe navigation.Osman detailed strategies to secure internet-connected yacht systems and protect against emerging digital threats. The session highlighted how addressing cybersecurity concerns can boost confidence in open-sea travel and drive further growth in the leisure yachting sector.<img src="https://photo-assets.superyachttimes.com/photo/351887/image/large-1a72e1ee0a34162c9ad66094cb0553dd.jpg" data-gid="gid://syiq/Photo/351887">Winds of Change The rise of ultra-high-net-worth individuals (UHNWIs) as key drivers of the yachting market was explored in Winds of Change. The panel examined how younger UHNWIs are prioritising adventure, sustainability, and technology in their yachting experiences. Gianmaria Costantino, Chief Commercial Officer of <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>, noted that experiential ownership—such as fractional ownership and shared charters—is becoming increasingly popular among new buyers seeking flexibility and tailored experiences.Xavier Bouin, Founder and Managing Director of TAN Services, and Abeer AlShaali, Deputy Managing Director of <a data-gid="gid://syiq/Company/955" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Gulf Craft (Company)">Gulf Craft</a>, discussed how sustainability and personalisation are becoming status symbols among the new elite. The session was moderated by Andrea Dini, Managing Director of BARCHE, who explored how shifting preferences are influencing yacht design and sales strategies.<img src="https://photo-assets.superyachttimes.com/photo/351891/image/large-9f8dbe70050052462ff243c6e7d2b9cf.jpg" data-gid="gid://syiq/Photo/351891">Yachting Lifestyle The evolving yachting lifestyle was the focus of Ancillary Services, where panellists discussed how luxury services, including Michelin-starred dining and onboard wellness experiences, are becoming key differentiators in the market. Robert Myers of Superyacht Interiors emphasised that bespoke services and personalised onboard experiences are driving guest satisfaction and increasing the competitive appeal of luxury yachts.Bianca Blom, Founder and CEO of Voyage Wellness Academy, and Gregor Stinner of Arte Di Mare highlighted how tailored wellness programmes and high-end culinary offerings are transforming yachts into floating resorts. The session was moderated by Ben Taylor, Director of Taylor Media, who steered the conversation toward the growing demand for holistic and immersive yachting experiences.<img src="https://photo-assets.superyachttimes.com/photo/351904/image/large-0dd414b6a021580237909dbe24193ad5.jpg" data-gid="gid://syiq/Photo/351904">Sales &amp; Marketing Strategies The conference concluded with Sales &amp; Marketing Strategies, which explored innovative tactics for attracting the next generation of yacht buyers. Virtual reality showrooms, influencer-led sea trials, and metaverse marinas are redefining the yacht-buying experience. Patrick Coote, VP of Brand Marketing for <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>’s Superyachts Division, highlighted how digitalisation and hyper-personalised design options are shaping the future of yacht sales.Artur Poloczanski, Public Relations Director at <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef Yachts</a>, discussed how influencer partnerships and immersive experiences are driving customer engagement. The session was moderated by Ben Taylor, who directed the conversation towards emerging sales platforms and digital innovation.<img src="https://photo-assets.superyachttimes.com/photo/351905/image/large-6181ac898f714af721c37ec4ed70145d.jpg" data-gid="gid://syiq/Photo/351905">A New Horizon for Yachting The Annual Leisure Yachting Conference reinforced Dubai's status as a global yachting powerhouse while highlighting the transformative trends reshaping the industry. From AI-driven automation to sustainable design and experiential ownership, the event set the stage for a new era of luxury yachting. As the market expands across the Gulf and beyond, the insights and innovations shared in Dubai are poised to influence the global yachting landscape in the years to come.

Dubai Boat Show Leisure Yachting Conference 2025 concludes

The Annual Dubai Boat Show Leisure Yachting Conference concluded yesterday, marking the launch of the 31st edition DIBS.

The winning bidder of the court-ordered auction for the 95m superyacht <a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">Indian Empress</a> has filed for a 15-day extension, following delays in payment. A court in Malta has declined the application.<img src="/uploads/store/photo/15879/image/large-fca42e36bc8b357300af6effb6db9415.JPG" data-gid="gid://syiq/Photo/15879">Lawyers representing the buyer, Credityacht Ltd, filed for an application for an extension on July 5, after failing to meet the original payment deadline, confirmed Ann Fenech, managing partner of Fenech &amp; Fenech Advocates to SuperYacht Times. The extension application cited a three day bank holiday as part of the reason the buyer was not able to transfer the €43.5 million for<a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">&nbsp;Indian Empress</a> on time. &nbsp;It came as no surprise that winning bidder was unable to pay the purchase price of Indian Empress within seven days to Ann Fenech. “The owners of the Indian Empress requested an adjournment of the auction the day before the auction on the basis the owners had signed an MOA with Credityacht weeks earlier, who needed more time to pay the purchase price,” said Ann Fenech to SuperYacht Times. &nbsp; &nbsp;<img src="/uploads/store/photo/16372/image/large-f3510410739ecf95976702d35efcfbc5.JPG" data-gid="gid://syiq/Photo/16372">A court in Malta rejected the application for a payment extension and now, it is up to any creditor with an executive title to request another judicial sale of<a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">&nbsp;Indian Empress</a>. As the former owner of<a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">&nbsp;Indian Empress</a> is said to owe more than 40 crew members over $1 million in unpaid wages, Maritime workers union Nautilus International is waiting for the court to appoint a new auction of Indian Empress. &nbsp;The union previously agreed to the application to extend the payment deadline, as they felt it offered the best possibility of securing the remaining €234,129 wages owed to the crew since<a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)"> Indian Empress </a>was abandoned last year. “We hope that the courts in Malta will be able to arrange a new judicial auction quickly and that any other bidders are in a position to deposit the sums with the court without delay,”&nbsp;commented Nautilus strategic organiser Danny McGowan. “Our members have waited for long enough already.” &nbsp;<img src="/uploads/store/photo/16099/image/large-034640c42c41a98e15593fc88f1eb137.jpg" data-gid="gid://syiq/Photo/16099">In the event that the new purchase price at the second court-ordered auction is less than the €43.5 million bid at the last sale, Credityacht will have to pay the difference in price.

The 95m superyacht Indian Empress still awaits a new owner

<a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">Indian Empress</a>, the 95-metre superyacht that was sold in a court-ordered auction in Malta<a data-gid="gid://syiq/Article/48695" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The 95m Indian Empress sold for €43.5 million during court-ordered auction (2018-06-29 11:45:00 +0200)">&nbsp;last&nbsp;</a>Thursday, is still waiting to be transferred to her new owner. The winning bidder of the superyacht which was previously seized in Malta last September over unpaid maritime wages has yet to deposit the purchasing price of €43.5 million. &nbsp;<img src="/uploads/store/photo/16372/image/large-f3510410739ecf95976702d35efcfbc5.JPG" data-gid="gid://syiq/Photo/16372">Ann Fenech, managing partner of Fenech &amp; Fenech Advocates, has confirmed that the winning bidder of<a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">&nbsp;Indian Empress</a> is Credityacht Ltd, a company registered in Malta. Following the auction, the buyer has seven days to deposit the purchasing price, which means the buyer has until today to pay for their new superyacht.However, the sale of <a data-gid="gid://syiq/Yacht/300" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Indian Empress95.0m (311'8&quot;)">Indian Empress</a> may not go through, as the original owners of the superyacht filed an application requesting the postponement of the auction.&nbsp;“The owners claimed that an MOA had been signed with this same buyer in May, but they had some issues with paying the purchase price,”&nbsp;revealed Fenech to SuperYacht Times. &nbsp;<img src="/uploads/store/photo/15879/image/large-fca42e36bc8b357300af6effb6db9415.JPG" data-gid="gid://syiq/Photo/15879">"The court had refused the application and the sale went ahead. We are all waiting to see what happens.”&nbsp; The previous owner of Indian Empress, former politician and co-owner of Formula One Force Indian team, Vijay Vittal Mallya, is said to owe more than 40 crew members over $1 million in unpaid wages. Following the sale of the superyacht last Friday, Maritime workers union Nautilus International stated that it aims to ensure the auction proceeds are used to pay the crew its owed wages.