SuperyachtNews.com - Business - Update: Antigua and Barbuda to auction 81m Alfa Nero

By SuperyachtNews

Update: Antigua and Barbuda to auction 81m Alfa Nero

Local media reports that a sale appears likely for the Russian oligarch linked motor yacht…

The Antigua and Barbuda government is moving closer to selling Alfa Nero, which has been moored in Antigua’s Falmouth Harbour for over a year and is said to be owned by sanctioned Russian fertiliser tycoon Andrey Guryev. Alfa Nero has not been moved since arriving around the start of the Kremlin’s invasion of Ukraine and was recently deemed a hazard to the harbour and marine environment.

The yacht has been subject to an official search to determine whether the ultimate beneficiary owner had been named on international sanction lists following the Russian invasion of Ukraine. According to the government, the search was unsuccessful and the vessel has been deemed a hazard to shipping and to the harbour where it is moored.

The statement from the Office of the Prime Minister Antigua and Barbuda accounted for the sale of the Alfa Nero in order to satisfy the requirements under the law for a forced sale. If the owner fails to claim the vessel within that time period, the Government of Antigua and Barbuda will sell it to the highest bidder.

The crew of the vessel has not been paid, nor has the provider of the fuel that the vessel has consumed since its arrival in Antigua. According to reports in Antigua Observer, the government has already entertained multiple bids and the sale will be deliberated during the weekly cabinet meeting.

The luxury superyacht, delivered in 2007 by Oceanco, is believed to be owned by a sanctioned Russian oligarch. Alfa Nero was sold in 2011 to its current owner with a last known asking price of $115 million. Prior to being "abandoned", it was a well-maintained vessel undertaking many refit and shipyard visits over the years. 

It offers accommodation for as many as 12 guests across six suites, comprising a master, two VIPs, two doubles and a twin. Alfa Nero can also host 28 crew and has a long list of key features that include a hydraulically operated pool and a helipad on the aft deck.

The Antigua and Barbuda government has consulted with the US authorities prior to taking the action, but it is unknown whether the money raised from its sale will stay with the Antigua and Barbuda government. Information Minister Melford Nicholas explained that the government is "trying to prevent a future hazard since the luxury vessel is not being maintained by its owner."

The forced sale of Alfa Nero highlights the importance of complying with international sanctions and ensuring that ultimate beneficial owners are transparently identified. Failure to do so can lead to significant financial and reputational risks, as well as legal consequences. The case also serves as a reminder of the importance of maintaining vessels to prevent potential hazards, both to the crew and to other vessels in the vicinity.

It is now becoming increasingly evident that governments around the world are taking a more proactive approach to enforcing regulations and ensuring compliance. Yacht owners, operators, and crew must remain vigilant and take steps to ensure that they comply with international laws and regulations to avoid similar situations in the future.

Profile links

Oceanco

ALFA NERO
OCEANCO 2007 2007 Delivered
82.00m 14.20m 3.90m 2136
Nuvolari - Lenard
Alberto Pinto
OceancoAzure Yacht Design & Naval Architecture

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Antigua and Barbuda to auction 81m Alfa Nero

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User photoShaun Peter Jarvis - 08 Mar 2023 14:37

I was surprised to read that the money or no money from sale would go to the Antiguan government as I would have expected that the governemnent would have some sort of claim recognised as producing a Maritime lien, e.g. damage caused by the vessel, claims relating to security over a vessel, srvices supplied to a vessel and port charges. The boat, having been arrested, as I assume it has by the crew for non payment of wages, are high in the pecking order of those to have their claims settled, Salvage claims, Admiralty Marshall's costs, berthing and maintenance costs and lawyers being the first to be settled from the funds of the Admiratly sale.

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