Displaying items by tag: finance

29th January 2012

IWDG Secures 75% Funding for Celtic Mist Refit

#TALL SHIPS - The Irish Whale and Dolphin Group (IWDG) has secured three-quarters of the funding it required to refit its research vessel Celtic Mist.

According to The Irish Times, the Clare Local Development Company has approved the allocation of a €48,000 grant towards the refurbishment of the ketch.

The work will be carried out by Cathal Blunnie and several sub-contractors, and involves stripping down the main cabin and removing the bath and shower to increase space for crew berths.

While the ship's clock will be retained, the ship’s wheel in the main cabin will be removed and presented to the Haughey family as a gesture of appreciation.

As previously reported on Afloat.ie, the 52-foot yacht - which was gifted by the Haughey family to the IWDG to assist in its marine wildlife conservation work - entered dry dock last November in preparation for the refit work, after relocating to its new berth at Kilrush, Co Clare in July.

This followed its last jaunt at sea in its former guise, completing a leg of the Tall Ships Races from Waterford to Greenock in Scotland.

The cost of refurbishing the yacht for research and training purposes is expected to top €60,000, with an annual running cost of some €20,000, for which the IWDG is seeking ongoing financial assistance.

The group aims to get the Celtic Mist back at sea before the summer.

Published in Tall Ships

Life Made Plain Sailing For Yacht Crew

Douglas, ISLE OF MAN - Moore Stephens Isle of Man, leading providers of multi-sector wealth management services has today announced a comprehensive financial support service for Superyacht crew through one of its group companies, Moore Stephens Crew Benefits Limited.

Speaking about the service line, Clive Dixon, managing director said, "While this was the logical next step in the development of the product, we actually ended up with a brand new offering powered by the International FlexiPlan retirement savings scheme. We listened to our clients who asked us to refine our existing product and the end result is a highly flexible client-focused way of managing crew benefits. Our clients wanted to be empowered to make investment decisions on the level of retirement savings they have, which is where the International FlexiPlan works perfectly."

The comprehensive service which will incorporate a 24/7 helpline comes on the back of Moore Stephens' successful Superyacht registration, HR solutions and yacht owner services which had already expanded into yacht crew payroll. It includes:

· Retirement savings plans, flexible and adaptable to a crew member's unique lifestyle, available in all major currencies.

· Health insurance, including hazardous sport, piracy and kidnapping options, but always with Med-evac as standard.

· Accident cover for dismemberment, permanent incapacity and death, among other options.

· Flexible income protection and life insurance.

"Our clients can either leave their retirement savings to be managed by their chosen provider or manage their own retirement savings using the investment funds available in the International FlexiPlan through a secure web-based platform. The International FlexiPlan has been specifically tailored with seafarers in mind. No other product on the market has been dovetailed to their needs in such a way. Our goal is to become a one-stop financial shop for crew, it's as simple as that," continued Clive.

All crew become members of "Moore Stephens Crew Club" www.mscb.im with a dedicated website and membership card which includes the telephone number of their personal 24/7 helpline.

While the International FlexiPlan retirement savings scheme was designed by Moore Stephens Isle of Man to minimise fees and charges, including fund investment fees, so that the saver gets a low cost solution to their retirement savings need, other services such as banking and insurance were arranged through strategic alliances with international banks and specialist providers with an international perspective.

Bransom Bean, Director of Moore Stephens Crew Benefits Limited, who project managed the offering, said, "We sourced specialist underwriters to provide a truly comprehensive global coverage scheme including global air Med-evac, piracy and ransom and coverage in the USA." He explained the rationale by stating, "Our brief was to design an ultra low-cost, fully flexible, international insurance product with the unique lifestyle of a yacht crew member in mind. This is a perfect fit for us as well - what could be more international than Superyachts?"

Published in News Update

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National Yacht Club Facilities

Facilities include a slipway directly accessing Dun Laoghaire Harbour, over eighty club moorings, platform parking, pontoons, fuelling, watering and crane-lifting ensure that the NYC is excellently equipped to cater for all the needs of the contemporary sailor. Berths with diesel, water, power and overnight facilities are available to cruising yachtsmen with shopping facilities being a short walk away. The club is active throughout the year with full dining and bar facilities and winter activities include bridge, snooker, quiz nights, wine tasting and special events.

National Yacht Club History

Although there are references to an active “club” prior to 1870, history records that the present clubhouse was erected in 1870 at a cost of £4,000 to a design by William Sterling and the Kingstown Royal Harbour Boat Club was registered with Lloyds in the same year. By 1872 the name had been changed to the Kingston Harbour Boat Club and this change was registered at Lloyds.

In 1881. the premises were purchased by a Captain Peacocke and others who formed a proprietary club called the Kingstown Harbour Yacht Club again registered at Lloyds. Some six years later in 1877 the building again changed hands being bought by a Mr Charles Barrington. and between 1877 and 1901 the club was very active and operated for a while as the “Absolute Club” although this change of name was never registered.

In 1901, the lease was purchased by three trustees who registered it as the Edward Yacht Club. In 1930 at a time when the Edward Yacht Club was relatively inactive, a committee including The Earl of Granard approached the trustees with a proposition to form the National Yacht Club. The Earl of Granard had been Commodore of the North Shannon Y.C. and was a senator in the W.T.Cosgrave government. An agreement was reached, the National Yacht Club was registered at Lloyds. The club burgee was created, red cross of Saint George with blue and white quarters being sky cloud, sea and surf. The Earl of Granard became the first Commodore.

In July of 1950, a warrant was issued to the National Yacht Club by the Government under the Merchant Shipping Act authorising members to hoist a club ensign in lieu of the National Flag. The new ensign to include a representation of the harp. This privilege is unique and specific to members of the National Yacht Club. Sterling’s design for the exterior of the club was a hybrid French Chateau and eighteenth century Garden Pavilion and today as a Class A restricted building it continues to provide elegant dining and bar facilities.

An early drawing of the building shows viewing balconies on the roof and the waterfront façade. Subsequent additions of platforms and a new slip to the seaward side and most recently the construction of new changing rooms, offices and boathouse provide state of the art facilities, capable of coping with major international and world championship events. The club provides a wide range of sailing facilities, from Junior training to family cruising, dinghy sailing to offshore racing and caters for most major classes of dinghies, one design keelboats, sports boats and cruiser racers. It provides training facilities within the ISA Youth Sailing Scheme and National Power Boat Schemes.

Past Commodores

1931 – 42 Earl of Granard 1942 – 45 T.J. Hamilton 1945 – 47 P.M. Purcell 1947 – 50 J.J. O’Leary 1950 – 55 A.A. Murphy 1955 – 60 J.J. O’Leary 1960 – 64 F. Lemass 1964 – 69 J.C. McConnell 1969 – 72 P.J. Johnston 1972 – 74 L. Boyd 1974 – 76 F.C. Winkelmann 1976 – 79 P.A. Browne 1979 – 83 W.A. Maguire 1983 – 87 F.J. Cooney 1987 – 88 J.J. Byrne 1988 – 91 M.F. Muldoon 1991 – 94 B.D. Barry 1994 – 97 M.P.B. Horgan 1997 – 00 B. MacNeaney 2000 – 02 I.E. Kiernan 2002 – 05 C.N.I. Moore 2005 – 08 C.J. Murphy 2008 – 11 P.D. Ryan 2011 – P. Barrington 2011-2014 Larry Power 2014-2017 Ronan Beirne 2017 – 2019

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