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  • New COO at Fifth Ocean Yachts

    Posted: 22nd January 2013 | Written by: IBI News

    Ukraine builder Fifth Ocean Yachts has named Andrea Armas as its chief operating officer. Armas is a naval architect with over 17 years’ experience in the industry. Armas’ professional background spans roles in production, sales and marketing. Previous positions include international sales manager at Bertram Yacht in Miami (US), general manager for Europe, Africa and Middle East for Riviera, and director of sales and marketing for Numarine.
  • BRP Seeks $1.05bn loan

    Posted: 22nd January 2013 | Written by: Michael Amato – Businessweek

    Bombardier Recreational Products Inc., the maker of jet skis and outboard motors, is seeking a $1.05 billion term loan to fund a dividend and refinance debt. The debt will pay interest at 4 percentage points more than the London interbank offered rate, said the person, who asked not to be identified because the information is private. Libor, a rate banks say they can borrow in dollars from each other, will have a 1.25 percent floor.
  • Africa's Richest Man Acquires Luxury Yacht

    Posted: 22nd January 2013 | Written by: Mfonobong Nsehe – Forbes

    Africa’s richest man, Aliko Dangote, has just taken delivery of a new luxury yacht. At the moment, very little is known about the yacht – who built it, how much it cost or even just how big it is. However, judging by pictures available on several Nigerian websites, the yacht looks significantly smaller than those owned by Dangote’s billionaire peers Roman Abramovich, Paul Allen or Andrey Melnichenko, making the Nigerian billionaire’s latest acquisition seem almost like a baby’s toy.
  • Superyachts Tough Sell to Newly Rich

    Posted: 20th January 2013 | Written by: Reuters

    The glamour, champagne launches, astronomical price tags, and celebrity clients belie a mounting unease in the world of "super-yacht" building, according to industry insiders. The billionaire financier clients of the pre-financial crisis world are fewer. And the new rich of Asia with the kind of money needed to spend at least $100 million on a holiday gin palace just aren't that into boats.
  • Giant Squid Caught on Video

    Posted: 19th January 2013 | Written by: Deborah Netburn – Los Angeles Times

    For the first time ever, scientists have shot video of a live giant squid in its natural habitat -- and you can watch a snippet of it here.
  • Diddy Yacht Party Resolves Feud

    Posted: 10th January 2013 | Written by: Nate Ryan – USA Today

    A New Years Eve party hosted on a yacht owned by Sean "P. Diddy" Combs – "The damndest boat you've ever seen in your life," according to one source – helped close a feud between two of America's leading racecar drivers, according to USA Today.
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