Antigua and Barbuda to auction 81m Alfa Nero

The government of Antigua and Barbuda has announced plans to auction off the 81.3-metre Oceanco superyacht Alfa Nero, which has been "abandoned" in Falmouth Harbour since February 2022. 

The yacht has been subject to an official search to determine whether the ultimate beneficiary owner had been named on international sanction lists following the Russian invasion of Ukraine. According to the government, the search was unsuccessful and the vessel has been deemed a hazard to shipping and to the harbour where it is moored.

The statement from the Office of The Prime Minister Antigua and Barbuda said that a notice to the newspapers and other media would be published for a period of ten days, notifying the sale of the Alfa Nero vessel in order to satisfy the requirements under the law for a forced sale. If the owner fails to claim the vessel within that time period, the Government of Antigua and Barbuda will sell it to the highest bidder. The crew of the vessel has not been paid, nor has the provider of the fuel that the vessel has consumed since its arrival in Antigua.

The luxury superyacht, delivered in 2007 by Oceanco, is believed to be owned by a sanctioned Russian oligarch. Alfa Nero was sold in 2011 to its current owner with a last known asking price of $115 million. Prior to being "abandoned", it was a well-maintained vessel undertaking many refit and shipyard visits over the years. 

It offers accommodation for as many as 12 guests across six suites, comprising a master, two VIPs, two doubles and a twin. Alfa Nero can also host 28 crew and has a long list of key features that include a hydraulically operated pool and a helipad on the aft deck.

The Antigua and Barbuda government has consulted with the US authorities prior to taking the action, but it is unknown whether the money raised from its sale will stay with the Antigua and Barbuda government. Information Minister Melford Nicholas explained that the government is "trying to prevent a future hazard since the luxury vessel is not being maintained by its owner."

The forced sale of Alfa Nero highlights the importance of complying with international sanctions and ensuring that ultimate beneficial owners are transparently identified. Failure to do so can lead to significant financial and reputational risks, as well as legal consequences. The case also serves as a reminder of the importance of maintaining vessels to prevent potential hazards, both to the crew and to other vessels in the vicinity.

It is now becoming increasingly evident that governments around the world are taking a more proactive approach to enforcing regulations and ensuring compliance. Yacht owners, operators, and crew must remain vigilant and take steps to ensure that they comply with international laws and regulations to avoid similar situations in the future.