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Displaying items by tag: Liquidation

#TradeNews - BBC News reports that Green Marine, the high performance yacht builder in the UK responsible for entries in the Volvo Ocean Race and America’s Cup, has gone into liquidation.

Forty-six jobs have been lost with the end of trading at the boatbuilder, which moved its core business to Hythe in Hampshire from Lymington and Southampton in recent years in order to take on multiple projects.

A slowdown in large yacht orders has been blamed for the decision to enter voluntary liquidation — though a Scuttlebutt Europe reader alleges manoeuvres at the builder’s Dutch owners Vitters undermined its ability to prosper.

Green Marine build more than 180 boats since it was founded in 1982, specialising in custom racing yachts such as those competing in the Volvo Ocean Race, the Vendée Globe, and Sir Ben Ainslie’s recent America’s Cup challenge.

BBC News has more on the story HERE.

Published in Marine Trade
2nd February 2012

Fastnet Line Closes For Good

#FERRY NEWS - The Fastnet Line ferry service between Cork and Swansea is to close with the loss of 78 jobs.

As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.

However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".

All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.

The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.

The Irish Times has more on the story HERE.

Published in Ferry

Fancy a pre-season boat bargain? It may well be on offer later this month at a 'liquidation sale of boats' due to take place in County Cork with a selection of unused and used power boats. The sale is by order of Mr. Barry Donohue, KPMG, Liquidator, HM Yachts Ltd (In Voluntary Liquidation).

The boats on offer include three unused Jeanneau motoboats inlcuding the popular Merry Fisher Legend. The vessel comes with Suzuki 50HP Four Stroke Engine and road trailer, ready for the season!

The sale will take place at 12 noon on Tuesday 29 March 2011. Viewing is from 10am - 4pm Monday 28 March 2011 or by appointment. The sale takes place at the Michael Murphy Yard, Mission Hill, Kinsale, Co. Cork. (Across from Bandon Co-Op)

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For sale: The Merry Fisher Legenda 585 Motor Boat

There are ten lots (including a van) but for the boats for sale include:

Unused Jeanneau Cap Camarat 715wa Motor Boat with a Hallmark Double Axle Trailer with Winch and Rollers, White / Blue.

Unused Jeanneau Cap Camarat 515 Style Motor Boat with a Suzuki 50HP Four Stroke Engine, Model DF50, Plus a Hallmark Single Axle Trailer with Winch and Rollers, White / Beige.

Unused Jeanneau Merry Fisher Legenda 585 Motor Boat with Enclosed Cabin with an Indspension Roller Coaster Single Axel Trailer with Winch and Rollers, White / Blue.

2006 Maxum 2400 SC3 26ft Motor Boat with 300Hp Petrol Inboard Engine with Double Axle Trailer, White / Blue.

2005 O'Sullivans Marine 710 23ft Fishing Boat with Cabin, Yanmar 27hp Diesel Inboard Engine, White / Blue, Name Mary-Linda.


For further details, please contact E-Auctions T: +353 45 883 554. More HERE.

Published in Boat Sales

Marine Protected Areas (MPAs) - FAQS

Marine protected areas (MPAs) are geographically defined maritime areas where human activities are managed to protect important natural or cultural resources. In addition to conserving marine species and habitats, MPAs can support maritime economic activity and reduce the effects of climate change and ocean acidification.

MPAs can be found across a range of marine habitats, from the open ocean to coastal areas, intertidal zones, bays and estuaries. Marine protected areas are defined areas where human activities are managed to protect important natural or cultural resources.

The world's first MPA is said to have been the Fort Jefferson National Monument in Florida, North America, which covered 18,850 hectares of sea and 35 hectares of coastal land. This location was designated in 1935, but the main drive for MPAs came much later. The current global movement can be traced to the first World Congress on National Parks in 1962, and initiation in 1976 of a process to deliver exclusive rights to sovereign states over waters up to 200 nautical miles out then began to provide new focus

The Rio ‘Earth Summit’ on climate change in 1992 saw a global MPA area target of 10% by the 2010 deadline. When this was not met, an “Aichi target 11” was set requiring 10% coverage by 2020. There has been repeated efforts since then to tighten up MPA requirements.

Marae Moana is a multiple-use marine protected area created on July 13th 2017 by the government of the Cook islands in the south Pacific, north- east of New Zealand. The area extends across over 1.9 million square kilometres. However, In September 2019, Jacqueline Evans, a prominent marine biologist and Goldman environmental award winner who was openly critical of the government's plans for seabed mining, was replaced as director of the park by the Cook Islands prime minister’s office. The move attracted local media criticism, as Evans was responsible for developing the Marae Moana policy and the Marae Moana Act, She had worked on raising funding for the park, expanding policy and regulations and developing a plan that designates permitted areas for industrial activities.

Criteria for identifying and selecting MPAs depends on the overall objective or direction of the programme identified by the coastal state. For example, if the objective is to safeguard ecological habitats, the criteria will emphasise habitat diversity and the unique nature of the particular area.

Permanence of MPAs can vary internationally. Some are established under legislative action or under a different regulatory mechanism to exist permanently into the future. Others are intended to last only a few months or years.

Yes, Ireland has MPA cover in about 2.13 per cent of our waters. Although much of Ireland’s marine environment is regarded as in “generally good condition”, according to an expert group report for Government published in January 2021, it says that biodiversity loss and ecosystem degradation are of “wide concern due to increasing pressures such as overexploitation, habitat loss, pollution, and climate change”.

The Government has set a target of 30 per cent MPA coverage by 2030, and moves are already being made in that direction. However, environmentalists are dubious, pointing out that a previous target of ten per cent by 2020 was not met.

Conservation and sustainable management of the marine environment has been mandated by a number of international agreements and legal obligations, as an expert group report to government has pointed out. There are specific requirements for area-based protection in the EU Marine Strategy Framework Directive (MSFD), the OSPAR Convention, the UN Convention on Biological Diversity and the UN Sustainable Development Goals. 

Yes, the Marine Strategy Framework directive (2008/56/EC) required member states to put measures in place to achieve or maintain good environmental status in their waters by 2020. Under the directive a coherent and representative network of MPAs had to be created by 2016.

Ireland was about halfway up the EU table in designating protected areas under existing habitats and bird directives in a comparison published by the European Commission in 2009. However, the Fair Seas campaign, an environmental coalition formed in 2022, points out that Ireland is “lagging behind “ even our closest neighbours, such as Scotland which has 37 per cent. The Fair Seas campaign wants at least 10 per cent of Irish waters to be designated as “fully protected” by 2025, and “at least” 30 per cent by 2030.

Nearly a quarter of Britain’s territorial waters are covered by MPAs, set up to protect vital ecosystems and species. However, a conservation NGO, Oceana, said that analysis of fishing vessel tracking data published in The Guardian in October 2020 found that more than 97% of British MPAs created to safeguard ocean habitats, are being dredged and bottom trawled. 

There’s the rub. Currently, there is no definition of an MPA in Irish law, and environment protections under the Wildlife Acts only apply to the foreshore.

Current protection in marine areas beyond 12 nautical miles is limited to measures taken under the EU Birds and Habitats Directives or the OSPAR Convention. This means that habitats and species that are not listed in the EU Directives, but which may be locally, nationally or internationally important, cannot currently be afforded the necessary protection

Yes. In late March 2022, Minister for Housing Darragh O’Brien said that the Government had begun developing “stand-alone legislation” to enable identification, designation and management of MPAs to meet Ireland’s national and international commitments.

Yes. Environmental groups are not happy, as they have pointed out that legislation on marine planning took precedence over legislation on MPAs, due to the push to develop offshore renewable energy.

No, but some activities may be banned or restricted. Extraction is the main activity affected as in oil and gas activities; mining; dumping; and bottom trawling

The Government’s expert group report noted that MPA designations are likely to have the greatest influence on the “capture fisheries, marine tourism and aquaculture sectors”. It said research suggests that the net impacts on fisheries could ultimately be either positive or negative and will depend on the type of fishery involved and a wide array of other factors.

The same report noted that marine tourism and recreation sector can substantially benefit from MPA designation. However, it said that the “magnitude of the benefits” will depend to a large extent on the location of the MPA sites within the network and the management measures put in place.

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