UAE seeks superyachts for new shipping registry
Quentin Bargate a senior partner at the London Law firm Bargate Murray reports on the first public unveiling of new UAE Yacht Regulations at the Abu Dhabi superyacht show.
He says, “This is a development of potentially great significance for owners, managers and everyone involved in superyachts. The UAE is setting itself up as a flag of convenience for superyachts - and is thus in my view throwing down the gauntlet to Cayman and other "Red Ensign" flag authorities.”
“These regulations have not yet been signed in to law but are expected to come in to force on 01 July 2010. Developed by DNV in cooperation with NAT, the new regulations will adopt a fundamentally different approach to the MCA LY2 regulations, being functionally based and applying to all types of private yacht.”
