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Corfu Mega-yacht Marina Tender Launches

Photo source: HRADF

The Hellenic Republic Asset Development Fund (HRADF or TAIPED) recently launched an international tender process to develop a mega-yacht marina on the Greek island of Corfu .

The licensed mega-yacht marina is located within the Corfu port, to the west of the cruise pier, near the passenger terminal. It can serve 98 yachts up to 140 meters and has a land zone of 39,400 square meters. Through a possible extension, the marina could cover a land area of approximately 100,000 square meters .

HRADF has launched the international tender process for the sub-concession of the right to construct, operate, manage, maintain and exploit Corfu’s mega-yacht marina for a minimum duration of 35 years .

Source: HRADF

The tender process will be conducted in two phases: a pre-qualification phase and a binding offers phase. Interested parties are invited to submit their expression of interest by April 18 . Details of the tender process are described in the invitation that is available here: https://hradf.com/en/corfu-megayacht-marina/

HRADF has launched the tender in the framework of its strategy to highlight assets with a strong local footprint and enhance tourism development and growth.

The construction and exploitation of Corfu’s mega yachts marina follow HRADF’s coordinated efforts to develop marinas and tourist ports in its portfolio, having in progress the tenders for the marina of Pylos and the marina of Itea .

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Mega-yacht marina tender on Corfu

The Hellenic Republic Asset Development Fund (TAIPED) launched a tender process on Tuesday for the development of a mega-yachts marina in Corfu in the framework of its strategy for highlighting assets with a strong local footprint and enhancing tourism development and growth.

The licensed mega-yachts marina is located within the port of Corfu, to the west of the cruise pier, near the Passenger Terminal. It can serve 98 yachts up to 140 meters, and has a land zone of 39,400 square meters.

Through a possible extension, the marina could cover a land area of approximately 100,000 sq.m.

The construction and operation of the mega-yachts marina in Corfu follow TAIPED’s coordinated efforts to develop marinas and tourism ports of its portfolio, while the tenders for the marinas of Pylos and Itea are in progress.

In this context TAIPED has launched an international tender process for the sub-concession of the right to construct, operate, manage, maintain and exploit a mega-yachts marina in Corfu for a minimum duration of 35 years.

TAIPED’s tender process will be conducted in two phases: a pre-qualification phase and a binding offers phase. Interested parties are invited to submit their expressions of interest by April 18.

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THE MEDIA VOICE OF THE GLOBAL MARINA INDUSTRY

Interest builds for megayacht marina.

GREECE: According to the Hellenic Republic Asset Development Fund (HRADF), four interested parties have submitted Expressions of Interest for the sub-concession of the right to build, operate, manage and maintain a megayacht marina on the island of Corfu.

The parties are: a consortium of Avax and Aktor Concessions; D Marinas Hellas; Lamda Marinas Investments; and Tekal. All are being evaluated to determine whether they qualify for the second phase of the tender (binding offers). The Corfu megayacht marina will be located on the east coast of the island, to the west of the existing commercial port and adjacent to the cruise terminal. As such, it will enjoy all the benefits of being on the Ionian coast, be close to many tourist attractions and just 3km (1.8mi) from an international airport.

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Corfu Megayacht Marina: Lamda Marinas Investments SMSA preferred investor

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The Hellenic Republic Asset Development Fund (HRADF) announced on Thursday that Lamda Marinas Investments SMSA was the preferred investor in the tender for the sub-concession of the right to build, operate, manage and exploit the marina for large vessels (mega yacht type) in Corfu, after the unsealing of the financial offer submitted by the company on June 13.

Within the next few days, the Hellenic Republic Asset Development Fund (HRADF) will also complete the verification of the documents of the financial offer.

Based on the contract to be signed, the total value of the price to be paid by the preferred investor will exceed 89 million euros over a period of 40 years. Part of the amount will be covered with a one-off payment upon the start of the sub-concession while the rest will be estimated based on a percentage of the turnover of the sub-concessionaire and will be paid annually. Investments for the construction and development of the marina from scratch are expected to exceed 50 million euros.

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Kantor Management Consultants is a European strategic, innovative, hands-on consultancy, committed to providing top-notch and bespoke advisory services.

Kantor supported Lamda Marinas Investments for the Corfu Megayachts Marina tender

Kantor Management Consultants successfully provided advisory services to Lamda Marinas Investments S.M.S.A., during the tender process for the Corfu Megayachts Marina (HRADF), which led to a winning tender proposal.

Corfu Megayachts Marina Investment

The Corfu port refurbishment and upgrade includes the development of a megayacht marina on the west side of the cruise terminal. The total investment to be paid to HRADF for a 40-year sub-concession period will exceed 89 million euros for Lamda to operate, manage, maintain, and develop the marina.

Lamda Development Project for Corfu Mega Yachts Marina

The Lamda development project entails the construction of a high-quality marina of 98 berths, with a capacity for boats from 30 to 140 meters in length, and land developments of an area of up to 7,800 m2, with shops, restaurants, hotels, and offices. The land zone also includes extensive green and pedestrian areas, sports facilities, and parking areas. The final master plan of the project will be completed during the design phase and will be adapted to market requirements.

Kantor's Actions as a Financial Advisor of Lamda Marinas Investments

Kantor’s engagement aimed at the support of Lamda Marinas Investments Management in Phase II of the tender process for the sub-concession of the marina. Acting as a financial advisor, Kantor developed an analytical financial and business model for OpEx and CapEx forecasting and evaluation, in order to document and justify the fees that Lamda is committed to paying to HRADF (One-time Concession Fee, Guaranteed Variable Annual Fee).

Simultaneously, following the completion of the financial model, Kantor prepared a business plan for the development and exploitation of the marina. This included a brief overview of the marina industry with an emphasis on the Ionian Sea, a presentation of the current situation of the marina and of the profile of the investor, the development plan of the marina with the services offered, as well as the results of the financial plan (Presentation of Assumptions, Analysis of Income, Analysis of Expenses, Financial Results).

In addition, Kantor liaised with the coordination between Lamda's legal and technical advisors, overviewing the Virtual Data Room material and contributing to the development of the final financial offer.

Lamda was the tender winner for Corfu Mega Yachts Marina.

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HRADF launches tender process for mega-yacht marina in Corfu

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The Hellenic Republic Asset Development Fund S.A. (HRADF) on Tuesday launched a tender process for the development of the mega-yachts marina in Corfu in the framework of its strategy for highlighting assets with a strong local footprint and enhancing tourism development and growth.

The licensed mega-yachts marina is located within the Port of Corfu, to the west of the cruise pier, near the Passenger Terminal. It can serve 98 yachts up to 140 m., and has a land zone of 39,400 sq.m. Through a possible extension, the marina could cover a land area of approximately 100,000 sq.m.

The construction and exploitation of the mega-yachts marina in Corfu follow HRADF’s coordinated efforts to develop marinas and tourist ports of its portfolio, having in progress the tenders for the marina of Pylos and the marina of Itea. In this framework, HRADF has launched an international tender process for the sub-concession of the right to construct, operate, manage, maintain and exploit a mega-yachts marina in Corfu for a minimum duration of thirty-five years.

HRADF’s tender process will be conducted in two phases: a pre-qualification phase and a binding offers phase. Interested parties are invited to submit their expression of interest on April 18, 2022.

SOURCE; AMNA

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Corfu Mega Yacht marina put out to tender

CORFU. ND MP Stefanos Gikas expressed his satisfaction. "This is very important and will drive the growth of maritime tourism in Corfu and the region in general."

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Corfu mega-yachts marina: The sub-concession contract for its construction to be signed.

Corfu mega-yachts marina: The sub-concession contract for its construction to be signed

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Questions for Investigators Trying to Unravel Mystery of Luxury Yacht’s Sinking

The investigators searching for answers about the shipwreck, leaving seven dead, face questions about extreme weather and possible human error or problems with the yacht itself.

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By Alan Yuhas

More than 180 feet long, with a mast towering about 240 feet and a keel that could be lowered for greater stability, the Bayesian luxury yacht did not, in the eyes of its maker, have the vulnerabilities of a ship that would easily sink.

“It drives me insane,” Giovanni Costantino, the chief executive of the Italian Sea Group, which in 2022 bought the company that made the ship, said after its wreck last week. “Following all the proper procedures, that boat is unsinkable.”

But the $40 million sailing yacht sank within minutes and with fatal results: seven dead, including the British technology billionaire Michael Lynch, his teenage daughter, four of Mr. Lynch’s friends and a member of the crew. Fifteen people, including the captain, escaped on a lifeboat.

Mr. Lynch had invited family, friends and part of his legal team on a cruise in the Mediterranean to celebrate his acquittal in June of fraud charges tied to the sale of his company to the tech giant Hewlett-Packard.

The Italian authorities have opened a manslaughter investigation, searching for answers from the survivors, the manufacturer and the wreck itself. They face a range of questions and possible factors.

An ‘earthquake’ in the sky?

When the Bayesian sank around 4 a.m. on Aug. 19, the waters in its area, about half a mile off the Sicilian port of Porticello, were transformed by an extremely sudden and violent storm, according to fishermen, a captain in the area and meteorologists.

But what kind of storm is still a mystery, compounded by the fact that a sailing schooner anchored nearby did not have its own disaster. Also unclear is whether the crew was aware that the Italian authorities had issued general warnings about bad weather the night before.

Karsten Börner, the captain of the nearby passenger ship, said he’d had to steady his ship during “really violent” winds . During the storm, he said, the Bayesian seemed to disappear behind his ship.

Severe lightning and strong gusts were registered by the Italian Air Force’s Center for Aerospace Meteorology and Climatology, according to Attilio Di Diodato, its director. “It was very intense and brief in duration,” he said.

The yacht, he said, had most likely been hit by a fierce downburst — a blast of powerful wind surging down during a thunderstorm. His agency put out rough-sea warnings the previous evening, alerting sailors about possible storms.

Locals have said the winds “felt like an earthquake.” A fisherman in Porticello said that he had seen a flare go off in the early-morning hours. His brother ventured to the site once the weather had calmed about 20 minutes later, he said, finding only floating cushions.

The Italian authorities have so far declined to say whether investigators had seen any structural damage to the hull or other parts of the ship.

Open hatches or doors?

The boat executive, Mr. Costantino, has argued that the Bayesian was an extremely safe vessel that could list even to 75 degrees without capsizing. His company, the Italian Sea Group, in 2022 bought the yacht’s manufacturer, Perini Navi, which launched the ship in 2008.

Mr. Costantino said that if some of the hatches on the side and in the stern, or some of the deck doors, had been open, the boat could have taken on water and sunk. Standard procedure in such storms, he said, would be to switch on the engine, lift the anchor and turn the boat into the wind, lowering the keel for extra stability, closing doors and gathering the guests in the main hall inside the deck.

At a news conference on Saturday, almost a week after the sinking, investigators said the yacht had sunk at an angle , with its stern — where the heavy engine was — having gone down first. The wreck was found lying on its right side at the bottom of a bay, about 165 feet deep.

12 guests occupied the yacht’s six cabins. There were also 10 crew members.

Open hatches, doors and cabin windows could have let in water during a storm, according to the manufacturer.

Open hatches, doors and

cabin windows could

have let in water

during a storm,

according to the

manufacturer.

Source: Superyacht Times, YachtCharterFleet, MarineTraffic

By Veronica Penney

Water pouring into open hatches or doors could have contributed to the sinking, experts say, but that on its own may not account for the speed at which such a large boat vanished underwater.

Asked about the hatches at the news conference, the authorities declined to comment on whether they had been found open at the wreck.

The authorities have also not specified whether the boat had been anchored, whether it was under power at the time or whether its sails had been unfurled.

A retracted keel?

The Bayesian had a keel — the fin-like structure beneath a boat that can help stabilize it — that could be retracted or extended, according to its manufacturer. On some yachts, keels can be raised to let the large vessel dock in shallower water, and extended downward to help keep a boat level.

But like the hatches, the status of the keel alone may not explain why a large ship sank with such precipitous speed. Investigators have not disclosed what divers may have seen at the wreck, aside from saying divers had faced obstacles like furnishings and electrical wiring in tight quarters. Officials want to raise the wreck to better examine it, a process that may take weeks.

Human error?

Ambrogio Cartosio, the prosecutor in charge of the case, said at the news conference that it was “plausible” crimes had been committed, but that investigators had not zeroed in on any potential suspects.

“There could be responsibilities of the captain only,” he said. “There could be responsibilities of the whole crew. There could be responsibilities of the boat makers. Or there could be responsibilities of those who were in charge of surveilling the boat.”

It remains unclear what kind of emergency training or preparation took place before the disaster, or what kind of coordination there was during it. So far, none of the surviving crew members have made a public statement about what happened the night the ship sank.

Prosecutors said they want to ask more questions of the captain and crew, who have been in a Sicilian hotel with other survivors. They said that neither alcohol nor drug tests had been performed on crew members, and that they have been allowed to leave Italy.

Prosecutors also said they were also investigating why the captain, an experienced sailor, left the sinking boat while some passengers were still on board.

Besides possible manslaughter charges, the authorities are investigating the possibility of a negligently caused shipwreck.

The bodies of five passengers were found in one cabin, on the left side of the yacht, the authorities said. The five were most likely trying to flee to the higher side of the boat and were probably sleeping when the boat started to sink, they said.

VIP Mega-Yacht Destination Flisvos Marina to participate in Moscow Boat Show 2013

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Written by Zuzana Bednarova

Situated in the popular Mediterranean yacht charter location – Greece , the fabulous VIP mega-yacht destination, Flisvos Marina , will be present at this year’s Moscow Boat Show for the very first time.

Flisvos Marina situated in the beautiful summer yacht charter destination - Greece

Only 6 km from the centre of Athens, in Paleo Faliro, Flisvos Marina is Greece’s first exclusive superyacht marina to offer large-scale mooring capacity to mega-yacht owners from Greece and abroad.

Flisvos Marina features 303 berths, more than half of which accommodate luxury yachts of over 35 meters.

Aerial View of Flisvos Marina

These extensive berthing capacities were recently complemented by additional land and high-end commercial properties and facilities for yacht owners and visitors alike.

VIP Mega-Yacht Destination Flisvos Marina after sunset

Flisvos Marina, apart from its permanent VIP clientele, whose marina selection criteria are quality of services, safety of human life and property, fineness of infrastructure and environmental consciousness, every summer becomes the starting point of transit yachts cruising the Aegean and the Mediterranean .

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "VIP Mega-Yacht Destination Flisvos Marina to participate in Moscow Boat Show 2013".

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Tornado likely sank luxury yacht off coast of Sicily, officials say, as search for survivors continues

Updated on: August 20, 2024 / 7:56 PM EDT / CBS/AP

Police divers resumed searching Tuesday for six people believed trapped in the hull of a superyacht that sank in deep seas off Sicily, including a British tech magnate who was celebrating his recent acquittal on fraud charges with the people who had defended him at trial.

Civil protection officials said they believed the Bayesian, a 184-foot British-flagged yacht, had been struck by a tornado over the water. The ship had been moored about a half-mile offshore off Porticello near Palermo when a storm rolled and the vessel sank at about 5 a.m. local time on Monday . 

Grainy film from closed-circuit cameras from shore, broadcast on the website of the Giornale di Sicilia, showed the majestic, illuminated 246-foot mast of the Bayesian weathering the storm and then disappearing over the course of a minute.

Fifteen of the 22 people aboard survived, including a mother who reported holding her 1-year-old baby over the waves to save her. One body was recovered, identified by officials as the Antiguan-born on-board chef. The rest of the 10-person crew survived, including the captain whom prosecutors reportedly sought to interview.

However, CBS News senior weather producer David Parkinson said Tuesday that it's still too early to determine whether the yacht was hit by a waterspout or a downburst. A waterspout is a meteorological term for a tornado over water, while a downburst consists of powerful winds that descend from a thunderstorm and can often be misinterpreted as a tornado, according to the National Weather Service.

As of now, Parkinson said, it's only safe to say that the yacht was impacted by a severe thunderstorm. Based on satellite imagery, there were strong to violent thunderstorms in the area where the yacht sank, Parkinson said.

That said, early Monday morning conditions were appropriate for either the development of a waterspout or a downburst, Parkinson explained. At around 4 a.m. local time Monday, the winds spiked, with wind gusts above 43 mph in Palermo. About 10 minutes later in the town of Aspra — which is 20 miles from Palermo and three to four miles west of where the boat sank — wind gusts of 51 mph were recorded, and the thunderstorms appeared to intensify as they moved east.

In cases of downbursts, when wind hits the water's surface, it increases the wind speed, Parkinson said. While at the time the boat sank, water temperatures were 84 degrees Fahrenheit, which would be warm enough to support the development of a waterspout, Parkinson said. 

"It's a great, great tragedy," said Britain's ambassador to Italy, Edward Llewellyn, who visited Porticello on Tuesday. Britain sent four investigators to the scene, given the disaster involved a British-flagged ship and British citizens were among the missing.

Fire rescue officials have said the six other passengers will be considered missing until they are located in the wreckage. They include tycoon Mike Lynch , who was once hailed as Britain's king of technology and was cleared in June of fraud and conspiracy charges in a U.S. federal trial related to Hewlett Packard's $11 billion takeover of his company, Autonomy Corp.

Also unaccounted for are Christopher Morvillo, one of Lynch's lawyers, and Jonathan Bloomer, a chairman at Morgan Stanley International and the former head of the Autonomy audit committee who testified in Lynch's defense.

The wreckage of the luxury craft is some 164 feet underwater — far deeper than most recreational divers are certified for and a depth that requires special precautions. Recovery crews could only stay for 12-minute shifts, a measure that slowed their efforts to reach the cramped inside of the wreck.

Karsten Borner, the captain of the Sir Robert Baden Powell, which rescued the 15 survivors who managed to get into a lifeboat, said he was close enough to be able to see the Bayesian as the storm came in.

"A moment later, she was gone," he said. "They said they went flat on the water and were sunk in two minutes," Borner added, quoting the survivors.

The rotating search teams, each made up of two specialized cave divers, worked Tuesday to open up access points to get inside the wreck. They were using a remote-controlled underwater vehicle, or ROV, to help in the search.

The divers hadn't been able to access the below-deck cabins because they were blocked by furniture that had shifted during the violent storm. Rescue crews said they assume the missing six are in those cabins because the storm struck when most would be sleeping, but the teams haven't verified their presence there through portholes.

Luca Cari, a spokesman for the rescue teams, said the search was proceeding much more slowly than another big shipwreck in Italy, the 2012 Costa Concordia cruise ship that flipped on its side off Tuscany's coast, because of the depth of the wreck and the limited space divers have to maneuver.

"That was much simpler. Here everything is more tight," he said.

The outing was intended at least in part as a celebration of Lynch's acquittal and a "looking forward to what was coming next," said Reid Weingarten, a Washington attorney and a member of Lynch's defense team who was not on the yacht.

"A lot of people went, a lot of people were planning to go and then of course this happened," Weingarten said.

Some of the people who stood by Lynch throughout the ordeal were on board, including Morvillo, the lawyer, who Weingarten worked with and said "was like a brother."

Morvillo's wife, Neda, is also missing, according to his law firm Clifford Chance.

Aki Hussain, CEO of international insurer Hiscox Group, where Bloomer, the witness, was chairman, said the company was "deeply shocked and saddened by this tragic event."

"Our thoughts are with all those affected, in particular our Chair, Jonathan Bloomer, and his wife Judy, who are among the missing, and with their family as they await further news from this terrible situation," he added.

Among the survivors, the Emslie family was released from Palermo's pediatric hospital on Tuesday where little Sofia had been kept overnight after her rescue. Her mother, Charlotte Golunski, had reported that she momentarily lost hold of the 1-year-old in the water but then managed to hold her up over the waves until a lifeboat inflated and they were both pulled to safety, doctors said.

The father, identified by ANSA news agency as James Emslie, also survived.

"They don't talk much, primarily because they consider themselves survivors and they don't understand why they survived given what they went through," said Dr. Domenico Cipolla, head of the emergency room at Di Cristina Pediatric Hospital.

Speaking to reporters Tuesday, Cipolla said Golunski had reported that she and the baby were sleeping in the cabin and suddenly found themselves in the water, where they also found Emslie who had been in a different part of the ship. Cipolla said the parents had been in touch with other survivors, who are being housed at a nearby hotel and were waiting for other family members to arrive in Sicily.

The baby slept well overnight and all were released after final checks Tuesday morning, he said according to a videotaped interview posted on Palermo Today, adding that psychologists had been made available.

Among the other survivors was Lynch's wife, Angela Bacares. Hannah Lynch, reportedly the couple's 18-year-old daughter, is among the missing.

The yacht's registered owner is listed as Revtom Ltd., according to online maritime database Equasis. Bacares is listed as Revtom's sole owner, according to corporate registration documents from the Isle of Man.

Its name, Bayesian, may be a reference to "Bayesian Inference," one of the two main approaches to statistical machine learning and the one that was used by Lynch's company.

The yacht, built in 2008 by the Italian firm Perini Navi, was carrying 12 passengers and 10 crew. According to online charter companies, it had been available for charter for about $215,000 a week and was notable for its massive aluminum mast, one of the tallest in the world.

The coast guard said to date there was no trace of fuel leaks from the wreckage.

In an unrelated event, Lynch's co-defendant in the Autonomy trial who was also cleared, Stephen Chamberlain, was killed Sunday when he was hit by a car while running in Cambridgeshire, England, said Chamberlain's lawyer, Gary Lincenberg.

• Boat Accident
• United Kingdom

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