UK law firm Shoosmiths has become a sponsor of the prestigious Young Professionals in Yachting (YPY) organisation. Invitations to become a sponsor are restricted only to firms and organisations the YPY believes will enhance their service to young entrepreneurs and existing young talent in the yachting industry.
Founded by D J Kiernan, director of marketing at Merle Wood & Associates in Fort Lauderdale, Florida, Young Professionals in Yachting has chapters in the USA, Monaco, the Netherlands, Germany and the United Kingdom. The UK chapter was established in 2015 and now counts more than 100 members in London and across the country, with a particular focus on the Solent area in 2022.
Membership of the YPY is limited to land-based business professionals within the yachting industry between the ages of 21 and 40. The YPY holds regular monthly meetings sharing industry news, much like Shoosmiths Aviation & Marine Breakfast Association (SAMBA) gatherings which bring together representatives from industries across the marine spectrum. The firm recently held one of its best attended SAMBA events to discuss the impact of Covid and Brexit on the leisure marine sector and the outlook for 2021/2022. The next event will take place at the Southampton Boat Show in September.
The main purpose of the YPY is to help enthusiastic and ethical young professionals to network, share knowledge and nurture long-lasting relationships to achieve success and global recognition within the yachting industry. This is achieved through hosting professional development seminars with talks by top industry leaders, encouraging new ideas and member collaboration. It also enables those in the leisure marine, yachting and superyacht sector to get the kind of support that is available for entrepreneurs in other industries, such as the ‘start-up accelerator’ offered by Yachting Ventures, founded by Gabriella Richardson, who also sits on the board of YPY (UK) as director of strategic initiatives.
London-based Elliot Bishop, who heads Shoosmiths Luxury Asset group, is well known in the marine sector for his multi-jurisdictional litigation expertise. Elliot commented:
“It’s a pleasure to sponsor Young Professionals in Yachting knowing that our funding will help to support the work they do in arranging quarterly members meetings with guest speakers and networking at a variety of venues. This association with YPY is also a recognition of the top tier status of Shoosmiths marine practice in the yachting world.”
Shoosmiths has an effective and experienced specialist marine law team, regularly advising insurers on claims resulting from collisions, damage and theft relating to all types of marine craft in addition to personal injury claims that result from yachting accidents. The team is experienced in collision matters, both under the Collision Regulations and Racing Rules of Sailing, as well as salvage issues in the UK and abroad, drafting new build construction agreements, sale contracts, yacht management agreements, arbitration on yacht collision disputes and supplying tax advice on yacht import and sale.
Legal Director Sarah Fairweather, based in the firm’s Solent office, advises bank and borrower clients in the marine sector on their financing and acquisition of all types of vessels ranging from production boats to superyachts. Sarah’s work includes advising on the sale and purchase, finance and security as well as registration and ownership issues. Sarah added:
“It’s exciting to be a sponsor of Young Professionals in Yachting. Alongside their professional development programmes, they organise various social events. In particular their South Coast sailing weekend has become an unmissable tradition for those in the yachting community and we’re looking forward to YPY involvement at our event at the Southampton boat show on 14 September.”