UK software entrepreneur Richard Hadida has been confirmed as the new owner of Oyster. The deal – brokered by administrators KPMG – covers the assets and business of Oyster Marine Ltd and the assets of Oyster Marine Holdings Ltd, including its shareholdings in companies within the Oyster Group
The sale, to a new company, Richard Hadida Yachting, will secure the employment of the retained staff at Oyster’s Southampton and Wroxham sites.
Teamwork between members of the Red Ensign Group (REG) and the industry as a whole has led to the creation of a new yacht code. Since its rollout to the marine industry in November 2017 at the Global Superyacht Forum in Amsterdam, REG has taken into account all the expertise gained across almost two decades of regulating the large yacht sector since the first version was published by the Maritime & Coastguard Agency in 1997.
In its new format, the Code is made up of two parts with common annexes, for example, over-side working systems, sailing vessels and helicopter landing areas. It will keep the familiar format of the existing REG codes while being more dynamic to industry change and development.
Work has been carried out across the REG to get the new code ready for its launch and also within the industry. One consultation alone brought in more than 700 comments as part of that active discussion with those involved with large yachts.
Lifecord is a newly designed kill cord providing the certainty and reliability of a tethered connection between a boat’s engine ignition kill switch and pilot, ensuring the vessel’s engine stops should the pilot be inadvertently thrown from the helm. However, unlike the typical passive kill cords commonly seen, Lifecord is a ‘smart’ kill cord incorporating detection technology designed to trigger an audible and visual warning alarm should Lifecord be connected to the boat’s kill switch but not the pilot, similar to the seat belt warning in your car.
The Large Yacht Brokers Association (LYBRA) has revealed plans for a new superyacht show with a “fresh, unique and appealing format”.
THE SUPERYACHT SHOW will take place from 2nd to 5th May 2018 at OneOcean Port Vell in Barcelona. According to organisers, it will offer buyers, charterers, brokers and representatives the opportunity to step aboard some of the finest superyachts in the world in an “exclusive and private setting”.