Purpose: This document summarises the ownership, registration and current movement restrictions of the superyacht M/Y Luna.
Summary
The superyacht M/Y Luna is registered to the Republic of the Marshall Islands. As the vessel’s flag state, the Marshall Islands have the overall authority and responsibility to enforce regulations over vessels registered under its flag.
Flag State
Under the United Nations Convention on the Law of the Sea (UNCLOS), every ship has to be registered to the state of its choice. The vessel is bound to adhere to the rules and regulation of the flag state nation’s maritime law and receives various protections and advantages in return.
Flag of Convenience
Not all vessels are registered to their ship owners’ country of origin and many vessels sail under a ‘Flag of convenience’ (FOC). An FOC allows a ship owner to register a vessel in the ship registry of a country other than that of the ship’s owners. Recent figures show almost 40% of the world’s ships are registered in Panama, Liberia, or the Marshall Islands.
Luna: Movement Restrictions
A series of restrictions regarding title, ownership and movement are at present imposed on M/Y Luna by its flag state, the Republic of the Marshall Islands.
Since October 2017, the Luna has been moored in Port Rashid, Dubai. For the following reasons, the Luna cannot lawfully leave Dubai:
- The Republic of the Marshall Islands injunction obtained by Tatiana Akhmedova on 8 August 2018 which prevents the transfer of ownership of the vessel or its removal from its current location in Dubai;
- The vessel’s ‘Private Yacht Certificate of Registry’ in the flag state confirms that “this certificate of Registry is only valid while the vessel remains in laid-up status and is not valid for navigation”.
Charter and Hire
Pursuant to Republic of the Marshall Islands regulations, to be registered as a private yacht an owner must submit at registration a ‘Declaration of Private Use – Not for Hire’ declaring that the yacht is not a commercial yacht or cargo vessel and will not be used for commercial purposes or gain. Straight Establishment, the registered owner of Luna, provided such declaration under oath on 28 April 2017.