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Russian superyachts are now rented out, but it is dangerous for charterers

Weekly rent is 4 million EUR

Jul 3, 2024 09:23 135

Flying Fox yacht, worth 445 million USD, built in 2019 in one of the shipyards of the German company Lurssen, today is considered the largest and most expensive yacht in the world offered for rent - its length is 136 m. In March 2022, it will dock in the port of the Dominican capital, Santo Domingo. The yacht was supposed to leave port after replenishing provisions and fuel on March 25, but did not leave until April 22.

Dmitry Kamenshchik, who is believed to be the owner of the Flying Fox, was not subject to sanctions, and the reasons for the yacht's detention remained unknown. In June 2022, the ship's management company, Imperial Yachts, was added to the sanctions list; The US Treasury says it is linked to Russian nationals who are subject to sanctions. Imperial Yachts called all the allegations false, its website is no longer operational, and in a statement it said the company had become a target for those who wanted to destroy it. Flying Fox is currently chartered by yacht broker Bluewater.

The same broker is leasing the yacht Axioma (72 m), which was previously owned by former TMK co-owner Dmitry Pumpyansky. In September 2022, it was auctioned for USD 37.5 million. The new owner was carefully researched, but his name is not mentioned.

Bluewater confirmed to Forbes that the Axioma is being successfully leased. Pumpianski bought the yacht in 2013 for 67 million USD, in March 2022 the billionaire fell under EU sanctions, all his accounts were blocked and the yacht was frozen in Gibraltar.

In September 2021, commissioned by Dmitry Pumpyansky, the Turkish shipyard Dunya Yachts began construction of his second yacht, the 48-meter My Bro. The vessel, according to the plans, was supposed to become auxiliary to the Axioma yacht - to receive guests arriving by helicopter without interfering with the passengers of the main yacht. The cost of building the new boat was estimated at 25-30 million USD. She was supposed to be delivered to the client in 2023, but was not completed until 2024 and is now rented out as a standalone vessel, promising an unforgettable vacation for the most discerning guests.

The three-deck sailing ship “Black Pearl“ – one of the most beautiful and environmentally friendly superyachts in the world, is available for charter for EUR 1.2 million per week. The vessel, estimated to cost US$200 million, was built in 2018 for Russian entrepreneur Oleg Burlakov, who died of the coronavirus in 2021. After the businessman's death, the sailboat became the center of loud litigation over his inheritance. His widow Lyudmila and grown-up daughters Veronika and Elena were considered legal heirs, but Burlakov's younger sister Vera Kazakova and her husband Nikolai presented the entrepreneur's will to the court, according to which all his property should be transferred to them. On November 22, 2022, the Lublin Court in Moscow recognized the Kazakov couple as Burlakov's heirs.

Today there are risks to chartering any superyachts associated with Russia. “Let us imagine a situation in which the country in whose port the yacht and its charterers arrive changes its position to pro-Western or pro-American. What happens next? We have an example of the detention of the yacht Amadea by the Fijian authorities at the request of the American embassy, although there was not even an agreement between the parties for such cases. It tells of the seizure and search of the yacht Tango in Spain by order of an American court. And the charter yacht can be detained and the personal belongings of the charterers seized as evidence until certain circumstances are clarified. The order could be for a yacht and everyone on board would suffer. It is possible that the tenants will end up in local pre-trial detention until the authorities decide what to do with the US warrant or request,” explains the lawyer, partner of the law firm BGP Litigation Sergey Glandin.