60-meter British Flagged Vessel FOX sinks in Thailand

Hi,

I don't think anyone is saying they didn't build it ok, someone just dropped the ball when launching it.

Does anyone know what system was in use to launch it?

That would be a big 'detail'. From what I've read Yach Solutions is only 9 years old with Ruea Yacht a newer division and I can't find anything about any other new builds. If this is build #1 they're in big trouble. As for build quality, it's hard to tell if it doesn't float.

The article in December's Yacht Report (Issue 119 pp 101-103) is interesting. I wonder how the next issue will spin this out.

It is really difficult to come up with anything short of hitting a direlect WW2 mine that can turn this into anything other than one of yachting's most humiliating disasters. This would be one of those Tylenol type PR debacles if some external cause were identified but unfortunately there isn't much chance of that. The opening statement in one of the closing paragraphs in the Yacht Report article states, probably all too prophetically, that "The delivery of Fox will herald the first demonstration of the capability of Ruea Yachts."

Bummer.

Hi,

They are pushing new builds up to now maybe they can add refits to the list of work projects.

A bit more info..

From dockwalk this morning, credited to Janine.

Below is a statement that will be issued by the owner’s representatives and Yacht Solutions
"Fox Launching Accident

Due to reasons as yet unknown the 60 metre Motor Yacht "Fox" sadly partially sank as she was launched from the slipway at a Bangkok shipyard where she had undergone a major refit.

Surveyors and insurance companies are now assessing the damage to see how best the vessel can be salvaged.

All parties concerned in the refit who have expended a huge amount of time and effort into the project are devastated and respectfully request that the incident is not discussed, or publicized in any way beyond this statement.

At this point in time there is little point in surmising, speculating or guessing what went wrong as a full investigation is still ongoing and a full report of the facts will be known upon conclusion of that investigation.

End Of Statement"

That reads like it was written by the same guy who did the stability calculations.

Sorry guys but publicity doesn't always happen the way the marketing folks would prefer. Surmising, speculating and guessing what went spectacularly wrong will get more more column inches than the most highly polished press release.

Hi,

There were only 4 of those built and they were built as Bulldog Class Hydrographic Survey Vessels.

So far 3 have been refitted/converted none with any real success and the 4th is an unknown quantity.

Bulldog - Was undergoing a major refit in Nelson NZ when it was destroyed by fire, last heard of the hulk was being towed around and maybe towards Croatia with grand plans to put it all right but no takers.

Beagle - Was refitted into what the Owners referred to as a luxury yacht, it was not seen that way by the rest of the industry nor many potential punters who had a look at her. Sadly the Owner died before his dream was realized so maybe if he had had control to the end things would have turned out differently.

Fox - What happened to this one is well documented in this thread.

Fawn - Whereabouts and condition unknown but given the result of the reworks on her sister-ships I doubt that this one will be any sort of silk purse anytime soon.

Owner's representative?
Seanergy Ltd., is/was coordinating refit for Hong Kong owner.

I'm sure getting old. I keep reading about these boat builders & refitters, etc. crowing about their many years of experience (usually less than 10, which means this is the first recession they've experienced). Personally, if I were to invest multiple millions in a boat or a refit I'd look for a track record of multiple decades or more. Any time I hear 'we can do it cheaper' I think 'corners are being cut'. Personally, after 23 years in this business and over 50 in boating, I'm most impressed with how much I still have to learn. Guess that's just an old way of thinking.

Bravo, to the staid conservative sentiment. An investment of this nature should be evaluated on the basis of value rather than cost.

This is a bad-break for all parties involved, both financially and by reputation; the least of which here is the owner’s coordinator/representative.

On the upside… she couldn’t have gone down in a better location for salvage and re-refit.

What does it explain? Seanergy is just a broker, a beancounter, and a local boat driver who found a client. My guess is their connection to the refit didn't extend beyond a very pleasant banking experience. If it did, they have kept it really quiet before this, and I sincerely doubt they will claim any connection now.

The Twist brothers are the ones who claimed that they were "raising the bar" on the quality of construction through their build supervision of the project.

I'll join with NYCAP in thinking that this is what happens when a couple of young guys with no real foundation in the art find a way to talk themselves into a position that is way over their heads.

We will probably see this happening more frequently in the Far East as new yards open or old yards start producing econoyachts, and the surplus of European con artists seek fresh pickings.

I think in front of the Feadship yards would have been better, but then.....

If brokers would just stick to selling boats and keep out of it beyond the closing, owners would be a lot better off.

i have my idea as to what happened but am not going to get into this. let's see what comes out of the official investigation, i don't know the people or the yard involved, and don't know their credentials or experience so consequently cannot tell how good or bad they are... but this brings me back to a question i have been pondering on for a very long time:

why is it that people at this level are so naive when it comes to yachts? whether you are building, refitting or converting a 60-meter yacht, either way it probably means that you are a pretty sharp guy who has understood a few things about how things work in this world, otherwise you wouldn't be at that level. and these same people sometimes do the most stupid things, get into unbelievable ventures where odds are really against them, and have blind faith in sometimes completely inexperienced and incompetent people who are borderline conmen. they get into deals where it is plain obvious to anyone who has any knowledge of the industry that they stand to get a substandard product with little market value. basically, they make mistakes they would never make in their core business or in any other business transaction but when a yacht is in question, they will jump into it with a smile on their face and little thought...

i understand that a few years ago you basically had to get in line to get your hands on a large yacht or pay a silly premium so people had an incentive to get creative. but nowadays, there are plenty of good deals available from very reputable shipyards so there is no need to gamble...

can someone explain this to me?