In a significant development for the luxury yachting industry, the 136-meter superyacht Flying Fox has been removed from the U.S. sanctions list. The announcement by the Office of Foreign Assets Control (OFAC), a division of the U.S. Department of the Treasury, signifies the lifting of restrictions that had previously prevented the yacht from being available for global charter. Now freed from the sanctions, Flying Fox is once again available for charter to clients worldwide, including those from the United States.
This move is poised to impact the international charter market, allowing one of the world’s largest and most luxurious superyachts to cater to a global clientele. As Bluewater Yachting Dubai officially confirmed, Flying Fox is expected to serve high-end destinations such as the Red Sea, Seychelles, and the Maldives. After a prolonged period of restrictions, the yacht is now open to all, including American clients and brokers who had been excluded during the sanctions.
Background: The Sanctions on Flying Fox
The Flying Fox became embroiled in a broader geopolitical conflict in June 2022, when it was placed on the U.S. sanctions list. The sanctions were levied against Imperial Yachts SARL, a Monaco-based luxury yacht brokerage, along with its CEO. This action was part of a larger package of measures imposed by the U.S. government, intended to freeze assets connected to specific entities and individuals under investigation for potential links to sanctioned regimes.
At the time, the U.S. Department of the Treasury classified the Flying Fox as “blocked property” because of its association with Imperial Yachts. This effectively meant that the yacht, along with other assets linked to the brokerage, could not be operated commercially or transferred, significantly impacting its availability for charter.
In addition to the Flying Fox, the sanctions also affected Imperial Yachts itself. The firm ceased all commercial activities in June 2022 and, eventually, posted a liquidation notice on its website, marking an abrupt halt to its operations within the high-end yacht brokerage industry.
Return to the Charter Market
In January 2024, the Flying Fox made a triumphant return to the charter market through Bluewater Yachting Dubai, a significant milestone following its removal from the U.S. sanctions list. With the sanctions lifted, the yacht is now available for charter on a global scale, attracting wealthy clients and charter brokers alike.
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A representative from Bluewater Yachting Dubai expressed enthusiasm for the return of the Flying Fox to active charter service. In a statement to BOATPro, the company confirmed, “We are pleased to welcome all clients, including Americans, as well as brokers from the United States.”
Currently, the Flying Fox is reported to be located off the coast of Kuah in Malaysia, preparing for charters across some of the world’s most desirable cruising regions. Expected to serve the waters of the Red Sea, Seychelles, and the Maldives, the yacht’s reappearance promises to satisfy the high demand for ultra-luxury yacht charters in exotic locations.
Flying Fox: A Floating Masterpiece
Originally delivered by Lürssen Yachts in 2019, the Flying Fox stands as a symbol of modern superyacht engineering and design. Its sweeping exterior lines, designed by Espen Øino, and its luxurious interior by Mark Berryman reflect the height of yacht innovation. Every feature onboard is crafted with an eye toward ultimate comfort, entertainment, and style.
Among its many unique features are two helipads, measuring 14 and 18 meters, which allow the Flying Fox to accommodate some of the largest helicopters on the market. This capability enables seamless, direct travel to and from the yacht, no matter how remote the destination.
The yacht is also home to several exceptional amenities, including:
- An indoor and outdoor cinema, allowing guests to enjoy movies in various settings.
- A fully equipped outdoor kitchen, featuring a teppanyaki grill and churrasco oven for gourmet outdoor dining.
- A 12-meter swimming pool, providing ample space for relaxation and recreation.
- A 400-square-meter spa spread across two floors, offering guests an immersive wellness experience. Notably, the Flying Fox is also the first yacht to feature a cryosauna, adding another layer of luxury to its already unparalleled offerings.
Wider Implications for the Yachting Industry
The lifting of sanctions on the Flying Fox serves as a reminder of the broader implications of geopolitical events on the superyacht industry. Yachts associated with sanctioned entities or individuals can find themselves frozen and restricted from operating in the global market. The recent case of the 58.5-meter superyacht “Phi”, which was arrested in March 2022 under UK sanction laws, provides a parallel example of how regulatory actions can drastically alter the fate of luxury assets.
As the Flying Fox re-enters the charter market, it signals a return to normalcy for the owners and operators of high-end superyachts, as well as the clients who seek out these extraordinary vessels for once-in-a-lifetime travel experiences.
