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Privilege Yard

Discussion in 'General Yachting Discussion' started by Yacht News, Sep 26, 2011.

  1. AffrayedKnot

    AffrayedKnot Senior Member

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    K1W1 - I have just been approached with a similar proposition.
    Tried PM, but your box is full.
    Please send me a PM with contact data. Thanks
  2. K1W1

    K1W1 Senior Member

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    Done, Dunno how it filled up so fast
  3. MountainGuy

    MountainGuy Member

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    Continuing after post #66 to #69 I just looked at the site of Privilege Yacht at bing maps and google maps.

    It is very interesting to see the differences in the aerial views and the map views and the street view. Specially at google the pictures from street view do absolutely not fit to what they show at their aerials.

    None of this is the fault or directly related to the yard, but it just proofs again, that we must not trust what is presented to us as reality. The more detailed the picture we are shown, the more we are inclined to believe, the easier it is to fool us…
  4. mediterannean

    mediterannean Member

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    Dont know if seen by other members here There was an article recently ( 16 th of October) on a known Yachting site about the re-starting of the Privilege 127m.

    The article quotes the Yard with some interesting - once again-numbers as: " 80% of the project is finished financially, and 60% physically.." Not surprisingly delivery time set again non- realistically(end of 2014 or 2015)!!
  5. German Yachting

    German Yachting Senior Member

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    They also claim that they have laid the keel for a 150m.
  6. K1W1

    K1W1 Senior Member

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    Don't get too excited, A keel can be laid officially with 10% or 50 tons of the steel used.
  7. German Yachting

    German Yachting Senior Member

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    I'm more perplexed than anything.
  8. AffrayedKnot

    AffrayedKnot Senior Member

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    As of May 7th 2014, the Privilege Yard entered “ART. 182 quinquies” of the Italian law; a cousin to U.S. Chapter 11 reorganization. Work has long been halted, no one has been paid for nearly a year now and the Privilege management continues to juggle smoke and mirrors hoping to yet again impress another dream-seeker willing to write a check.

    Italian Court in Rome takes-up this matter again on Wednesday, the 22nd of October (day after tomorrow). The last hearing (29, September), found busloads of workers traveling from Civitavecchia to Rome to attend the hearing, and demonstrate an unyielding labor force solidarity.

    If Privilege has not secured fresh funding by Wednesday, the court could remove management, liquidate the yard and assets. Or, as mentioned in September; scrap the naval vessel.

    I expect Wednesday’s hearing will result in further continuance - They’ll kick the can just a bit further down the road.
  9. olderboater

    olderboater Senior Member

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    Rumor is that Privilege and New World are going to merge. A true marine CONglomerate.

    Ok, not a rumor, but just another incident of deception and fantasies and many people being hurt by such actions.
  10. Capt J

    Capt J Senior Member

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    Yeah, but the difference is New World was building yachts, finishing yachts, and launching yachts.
  11. olderboater

    olderboater Senior Member

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    You may be right, although I'm not sure New World ever actually did start and build one to completion. The ones I'm aware of that were started in 2011 and later were not completed and are sitting there in an uncompleted state. Understand Badun is not the only partially built boat sitting there. I know there were a couple delivered during their term of ownership, but don't know if they were started before. I also think there was one along the way that was finished at Delta.

    Your point is still valid that at least at the location and under the name, Northern, there was a history. And, Privilege was always just a dream.
  12. K1W1

    K1W1 Senior Member

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    Lets get this very straight. What Northern and or New World built or tried to build could be used as a tender on a 150m or larger vessel.

    These monster vessels are actually ships, they are built to ship rules and regulations, manned and operated by crew with a background on ships they maybe called "yachts" but that name is the only real similarity they share to the vessels most of the members are familiar with using that name as an identifier.
  13. Capt J

    Capt J Senior Member

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    You would have to have NOAH's flood to get that Privelege vessel in the water in it's lifetime.......perhaps you should start rounding up 2 of each animal......I'll wait and see how it works out......because their monster vessel aint going nowhere in this lifetime!!!!
  14. K1W1

    K1W1 Senior Member

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    It could also be cut into sections as a hull and removed to another facility where it was all re assembled - while not ideal for a number of reasons it is not an alien procedure to ship builders.
  15. Capt J

    Capt J Senior Member

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    Maybe then it would actually turn into a running,floating, yacht/ship. Because Privelege is bankrupt if you haven't heard.
  16. olderboater

    olderboater Senior Member

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    In no way am I comparing the boats they build. I'm simply comparing the business situation and results. I know the difference between 95' and 492'.

    There are a lot of "yacht" builders who talk a lot, present a good picture, but aren't building any. And we continue to have boats partially built where the buyer has to take over the business to get it finished or move it elsewhere. There really are too many excellent and dependable builders of all sizes, from dinghy to ship, to even fool with these pie in the sky builders. There is an industry full of professionals, but then there are those who have no idea what they're doing and can't be trusted. And ultimately the courts have to resolve their situations. Vendors and customers run to file claims but there are no assets.
  17. German Yachting

    German Yachting Senior Member

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  18. Capt Ralph

    Capt Ralph Senior Member

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    Would by chance the author of that web page know anything of what has happens or not in that yard for some time (almost years)?
    "210m finished in 24 months"? You see anybody working in that last project photo? Cars or supply trucks around? Bay doors open?
  19. AffrayedKnot

    AffrayedKnot Senior Member

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    Earlier today a representative of the Privilege Yard, pledged (yet again) to re-open the shipyard and resume work on the P430 vessel.

    In a meeting with officials of the Port and Municipality of Civitavecchia as well as Lazio Regional Councilors; Privilege ownership committed that work would restart by the end of February 2015. Additionally, the Shipyard management introduced news that: “new orders have been received and confirmed for additional ships that will create the conditions to gradually return all vendors previously involved in the construction site”. Privilege ownership representatives further vowed to complete P430 within one year.

    Contrary to management statements, interviews, and yacht-media reports - activity at the Privilege Yard and specifically construction of P430 has been dormant since January 2014.

    This was the “news” of the day.

    My editorial opinion remains unchanged. Until new money arrives with new management, this ship will not complete. We all should remember - the Ring Master of this Circus is the same character responsible for the project that bankrupted Benetti in the 80’s.
  20. olderboater

    olderboater Senior Member

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    When I see it, I'll believe it. All these constant proclamations by builders. The louder they say it, the less believable it is.
  21. Capt Ralph

    Capt Ralph Senior Member

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    Smoke on a very distant horizon, then some BS factor.
    As OB stated, When we see it, We'll believe it..
    Not some lame media / press announcement s***s.

    Don't take that as a negative for real progress.. If something is REALLY happening, then GREAT. We do wish the best. Just the smoke has been read before. Puff, Puff,,,splash...

    Please show us something positive and good /positive vibes will follow.

    I do wish good luck and ventures.
    ,rc