TT MIBS 2011 Sunday Issue

MIAMI

o o o Test Your Mates

Sun & Moon Sunset: 6:17 pm; Sunrise (Monday): 6:51 am Moonrise: 9:08 pm; 96% illuminated High tides: 11:25 pm; 11:40 am (Monday) Low tides: 5:22 pm; 5:48 am (Monday)

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Weather Today: Sunny, winds E 14 mph, high 81, no chance of rain Tonight: Clear, low 65 Tomorrow AM: Sunny, warming to mid 70s

Here are a few questions to test your knowledge of nautical distances and speed. n How deep is a fathom? n How far is a nautical mile? n One degree of latitude equals how many nautical miles? n When you say the yacht traveled at 10 knots, what does that mean? What is a knot?

ANSWERS on page 3.

Things to See / Do Today, 12 p.m.

18th annual Kite Day Kite Festival, Haulover Beach Park, starts at noon.

Free, plus parking

Today, 1 p.m.

Interior service workshop, Convention Center, Room B115. $250. 954-3971583, largeyachtservices@gmail.com

Through Monday 48th annual Coconut Grove Arts Festival. One of the U.S.’s largest fine arts festivals. $10. www. coconutgroveartsfest.com

Free yoga, self-defense Mondays and Wednesdays (yoga at 6 p.m., self-defense at 7:15 p.m.) and Saturdays (yoga, 9 a.m.), Bayfront Park. www.bayfrontparkmiami.com

STARS AND STRIPES: Yacht brokers at the show credit the state’s $18,000 sales tax cap on yachts for closing deals, keeping yachts – and money – in Florida.

PHOTO/TOM SERIO

Florida’s tax cap helps brokers sell Staff Report As the economy begins to recover, yacht brokers at the Yacht & Brokerage show yesterday said they’ve gotten quite a boost from the cap on state sales tax that Florida legislators approved last summer.

Capping sales tax on yachts to $18,000 – what is due on a yacht sold for $300,000 – is being credited with helping push the yacht sales industry along, and it might have a few more consequences lawmakers didn’t consider.

“We had seven boats just in December that took advantage of the tax cap, and that’s what made the difference,” said Raymond Young, a yacht broker with Robert J. Cury &

Associates.

Existing yacht owners who pay the tax, regardless of flag, can keep their yachts in Florida year-round without penalty. But some, it seems, are taking advantage of the cap to reflag their yachts to the U.S. “Utilizing the tax cap makes American buyers more comfortable,” Young said. “It’s easy in and out of ports because of the flag, and we should see an influx of American crew.

A U.S. flag requires U.S. crew.

“U.S. captains used to be a valuable commodity but now there are many out of work,” said Brad Nelson, a broker with Atlantic Yacht and Ship. “That will change.”

See TAX CAP, page 3

For more news, visit www.the-triton.com

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Yachting ‘easier’ with U.S. flag TAX CAP, from page 1 “I went from a 147-foot to a 125-foot yacht,” said Dan Dagesse, a yacht owner and client of RJC. “With the tax cap, it was a no-brainer to buy and move from a foreign flag.”

Anecdotal evidence from around South Florida shows more and more yacht owners reflagging existing yachts to the U.S. because of the cap. But because the state of Florida doesn’t distinguish one type of tax from another, it’s difficult to determine how much money has been collected so far.

“We help guide buyers when they are trying to flag their vessels and most do prefer the U.S. flag,” said Philip Bartholomew of Seacoast Marine Finance. “I just closed on a 100-foot yacht and the owner said, ‘I want an American flag on this.’”

Bartholomew said that since the cap passed in July, he’s “probably closed on five yachts that would have gone offshore.”

“But, remember, there is still a benefit for foreign flags for certain buyers,” he said. “It is vital that the owner thinks about how he will use his boat.”

When asked if the cap is helping him sell yachts, broker Brian Hermann of Ardell Yacht and Ship said, “Absolutely.

It’s more comfortable now for American buyers. As part of the tax cap, with flagging the yacht in the U.S., it’s easier to move the yacht in and out of U.S. ports. It also keeps money here and is a savings to the owner.”

Americans aren’t the only buyers taking advantage of the tax cap.

“I’m putting a deal together now that

is in the $800,000 range and the fellow is so interested in having a U.S.-flagged boat he’s willing to pay,” said Andrew Bergh, a broker with Atlantic Yacht and Ship. “He’s not from the U.S. but he feels like his boating will be better with a U.S. flag, not having to be stopped by Coast Guard and things like that. It’s just easier.

“To heck with the expense of maintaining an offshore situation: having to go off each year, go out, come back in, get the cruising permit again.

It’s just too much,” he said. “They’re willing to pay. Just pay the tax and you’re done with it completely.”

Kevin Merrigan, a broker and president at Northrop and Johnson, said some closings last summer were postponed while the cap was debated and voted on. When it passed, they closed.

“Customers are Merrigan more comfortable leaving their yachts in Florida,” he said. “It’s a win-win, as they will also spend money here.”

“I want to applaud FYBA [the Florida Yacht Brokers Association] and state government for being progressive to implement the tax cap,” said broker Curtis Stokes of Curtis Stokes & Associates. “We are seeing renewed interest in Florida from yachts not flagged here.”

sea the world Train at MPT STCW U MCA U USCG All Courses

www.MPTusa.com

Lucy Chabot Reed, Dorie Cox, Tom Serio and Jordan Sullivan contributed to this report.

Test Your Mates

About us

Answers to the quiz on page 1: n A fathom is about 6 feet n A nautical mile is 1/60 of 1 degree, or 6,076.1 feet, or basically 6,000 feet. n 1 degree of latitude equals 60 nautical miles. n A knot is 1nm/hour. 6 knots is 1 nautical mile every 10 minutes. 10 knots is 10 nautical miles in one hour. (On inland bodies of fresh water, vessels travel in miles per hour.)

Triton Today Miami is published

by Triton Publishing Group.

Publisher: David Reed Editorial: Lucy Chabot Reed, Dorie Cox, Tom Serio, Jordan Sullivan Advertising: Mike Price, Becky Gunter, Production: Patty Weinert Vol. 3, No. 4.

Copyright 2011, all rights reserved.

Booth R67

www.SeaHawkPaints.com/sale

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CHECKING THE TIDE: Triton Today’s Question of the Day:

If you could, what would you change about the show?

It’s no surprise that yacht crew would prefer better food and dedicated parking, but they also suggested specific ways to spruce up the Yacht & Brokerage Show.

After all, who knows boat shows better than crew? – Data compiled by Dorie Cox, Jordan Sullivan Atmosphere – 12% Show basics (hours, power, docks) – 36%

Parking – 16% More crew activities – 16%

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Better Food – 20%

Mate/Eng. Christian Caggiano Looking for work “I would bring in music. We need tunes to liven things up.

Don’t you agree that we should have a band, get guys juggling and riding unicycles?�

Capt. Kelly Klicker M/Y Cool Aid 72’ Offshore Yacht “We need better parking and more activities for crew nearby. Maybe networking on the dock in outside, open space.�

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Mate Ronald Orozco M/Y Orly 94’ Sunseeker “We need more food choices. And I would make it more fun. It used to be more like that.�

Chef/Stew Michelle McAdam M/Y Alexandra Bear 83’ Marlow “We need more crew activities. We’re staying onboard, and we don’t get invited to the prince’s parties.�

Capt.

Spence Gallagher M/Y Just Right 100-foot Broward “We need more parking. It seems like they would offer more options for the people working the show.�

Eng. Dave Hammond M/Y Moon Sand 135’ Sovereign “I would change the generator company.

The power shut out.�

Mate Werner Pauw M/Y Schnupsi 107-foot Hatteras “I would change the hours. A lot of boats have parties, and we spend all night cleaning. If we started at noon we would have a better chance.�

Mate Nevin Hoefert S/F Sweet Mary 74’ Viking “I would change the generators. We lose power 4-5 times a day and they swapped them out twice.�

S u n d ay • Fe b. 2 0 , 2 0 1 1 | 5 Stew Page Crowley M/Y Lady Jan 96’ Hargrave “I’d like to see more people, more visitors; we need more ice cream stands; and I’d like to see more crew gatherings.”

Deckhand Micheal Lopez M/Y Off Track 92’ Montefino “This pylon here,” he said, pointing to mooring pile. “Other than that it’s been a great show. It’s always great to come to Miami.”

Thea Thurgood S/F Hosanna 82’ Viking “We need better food. Everything we’ve had was awful.

There need to be more coffee stands around.”

Deckhand William Swift M/Y Emerald Star 141’ CRN “I would change the mooring piles.

Everything’s under a lot of tension to stop us from hitting the dock.”

Mate Jessica Hill M/Y Frailech 90-foot Pershing “I would fix the parking. There is none and it’s just a congested mess.”

Stew Brie Tarbert M/Y Shear Fantasea 112’ Crescent “I would change the hours. It’s just too long.

Even taking one or two hours off would help.

The last two hours drag on.”

Eng. Nicolas Guardalabene M/Y Shear Fantasea 112’ Crescent “It needs to be easier for crew not staying at the show, transportation to Ft. Lauderdale, a special area for our vehicles.”

First Mate Chris Bean M/Y La Belle Yvette 112’ Crescent “I would change how late the show is open. It should end at 5. I don’t think that it should be open on Monday either.”

Capt. Chris Wallace M/Y Lady Sheila II 130’ Mangusta “I would change the temperature. The security could be better, too. People just walk in off the street.

I would also provide better food.”

First Mate Glenn Helton S/F Gulf Rascal 68’ Hatteras “We need bathrooms.

If they don’t have anything to do with the boat show we have to walk across the street to the hotels.”

For all of your unique needs.

Engineering. Deck. Safety. Interior.

www.ProfessionalCaptainsServices.com

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DOING THE CREW THING: Crew after dark

J

ust because the show officially closes at 7 p.m. doesn’t mean all crew are done for the day. Some continue late into the night, setting up, serving and breaking down parties. The lucky ones get out of uniform and unwind with friends.

Photos/Tom Serio

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