Have Yachts, Will Travel Page 2

Megayachts — February 2005
By Diane M. Byrne

Have Yachts, Will Travel
Hot Topics, Down the Ways

 More of this Feature

• Part 1: Areti I and Aretti II
• Hot Topics, Down the Ways

 Related Resources
• Megayachts Index

Hot Topics
On Power & Motoryacht’s Megayachts forum, people are talking about Lady Lola and her support vessel, Shadow.

A few forum members wondered whether the owner, Duane Hagadone of Idaho, was commissioning a new yacht, as Lady Lola and Shadow had been advertised for sale and they hadn’t completed a planned circumnavigation. Tvergaard­One, a member from Denmark, was particularly concerned that something might be wrong with the yachts because they had been put up for sale. Funshyn, who’s from Idaho (and who I confirmed via e-mail is a member of the owner’s management team), logged in to set the record straight:

“After cruising Spain, France, Italy, Croatia, and Greece through the end of September, the yachts were prepared to transit the Suez Canal in October with guests scheduled to embark in Thailand mid-November.…Unfortunately, the captain was notified in mid-September that the insurer (Chubb) would not cover the yachts’ planned passages under the war-acts clause for transit through the Red Sea or Straits of Malacca. Even when pressed with an offer to pay increased premiums, Chubb refused coverage. The owner, being of sound mind and judgment, decided to return to the Caribbean and accelerate the planned sale of the yachts. Since insurance companies seem to own the largest buildings in the world, their risk assessments cannot be taken too lightly.” As to why Hagadone decided to sell, funshyn posted, “The owner is moving into his retirement mode and slowing down the travel pace. After eight years in yachting with a 150-footer followed by the Lady Lola fleet, there will be no Lady Lola III.”

To see the latest postings on this and other topics, visit the Megayachts forum at powerandmotoryacht.zeroforum.com.

Down the Ways
If all goes according to plan, Palmer Johnson will expand its Wisconsin yard to accommodate construction of larger yachts as well as create a new launch facility. The yard submitted a proposal to local government officials in October, in which more than $40 million would be spent on things such as replacing its floating docks, building a paint shed, and adding a new 72,000-square-foot construction shed to accommodate yachts up to 250 feet LOA. We’re following the story and will update you as developments occur. …Across the Atlantic, Oceanco has signed a 262-footer designed by Nuvolari & Lenard. As many yachts do these days, this one will feature panoramic lounges, but she’ll also have a glass-lined lobby on the main deck. Consider this lobby a reception area, as it will be where the owner and guests embark and disembark the yacht, courtesy of two 30-foot tenders. Of course, if they’re in a hurry, they’ll be able to use the 262-footer’s helipad. ...Talk about a rocket ship: The photo (above) is from the sea trial of The World Is Not Enough, the Millennium 140 that arrived stateside in time for the Fort Lauderdale International Boat Show last October. The nearly-70-knot yacht (TWINE, for short) is equipped with a 9,200-hp Lycoming gas turbine and twin 5,436-hp MAN Paxman diesels driving Lips waterjets. As you’d expect of a megayacht, the interior features high-gloss woods and marble in­lays. Look for a full feature story later this year.

Two years from now Burger will deliver two yachts to one owner.

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This article originally appeared in the January 2005 issue of Power & Motoryacht magazine.

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