Oligarchs & Orcas

AHOY! This is I'dRatherBeSailing... is it safe to come out now? Has the squall of Black Friday emails passed? Phew...

In todays email

• Confiscated toys: What happens

• Orcas Attack: (again)

• Ode to the Eau: Sailing Smells

Rusting Toys

If you've ever sailed into St Barths and rolled your eyes...this will probably make you roll your eyes again. As we all know by now, there have been sanctions on Russian Oligarchs. AKA, the boys had their toys taken away. But life after confiscation? Here's what happens.

• They become a giant eyesore

• They require constant upkeep

• Tax dollars pay for their maintenance 

The seized boats sit in ports around the world. The closest to us sits at a dock in San Diego, surrounded by barbed wire and no-trespassing signs. We all know that BOAT sometimes stands for 'Bust Out Another Thousand', but in this case, the busting is left to Uncle Sam. And it's a whole lot more than a thousand. In theory, the boats owners are responsible for the maintenance and upkeep. But there's a small problem. The actual owners are hidden behind a nesting doll of shell companies and beneficiaries.

When you're a drug Cartel boss, you don't actually own anything, your girlfriends do. It's standard practice. The Oligarchs seem to have copied that playbook, but instead of girlfriend's, its...lesser (unsanctioned) oligarchs that are the "straw owners" of the boats.

The Amadea (above) is one of the seized boats, moored in San Diego. Just to keep her afloat, she requires a full time crew of 16 (half the normal operating crew). Because she is technically impounded, there is a $1,000 per day impound fine, which is already north of $150,000. That is on top of the estimated $10 million annual maintenance cost. And that is just the one boat. Using an ultraconservative upkeep estimate of 3% of the boats value annually, the Italian and US governments will pay $50 million a year to upkeep the seized fleet.

This is where a slight wrinkle comes into the story. What happens to the seized boats? Will they be sold? Can they be sold? Yacht brokers and Maritime lawyers say the risk of buying a seized Oligarch yacht is more than enough to scar away any deal seekers. After all, who wants to find out if a sketchy Russian Billionaire will come looking for his boat and ask for it back.

Orcas at it Again

Another Orca attack off the Spanish coast, most likely the same pod that has been messing with, and sinking, sailboats in the area for a few years now. The captain's debrief here. After heaving to, the Orcas lost interest and left. We'll file that way under hope I never need this...

No one knows exactly why Orcas are attacking sailboats, but the prevailing, non-scientific theories are:

• They're just playing around...

• They're seeking revenge on fishermen who hurt them...

Most Youtube videos just record the interactions. This video doesn't have as many views, but their thoughtful breakdown of their orca encounter, and deep-dive research, is the best out there. Worth a watch.

Cruising 'round the web

• A breakthrough new desalinator that doesn't use reverse osmosis, and can be run completely off solar. Not for sale yet, but we'll be keeping our eyes on this.

• Everyday phrases with nautical origins.

• Eau du Rigid Inflatable: A sailors ode to the smells of sailing.

Thats it for today, stay safe and salty out there!