The Triton

Triton Exclusives

Yachts at UMC can be shown for sale in new FTZ

ADVERTISEMENT

By Lucy Chabot Reed

Universal Marine Center in Fort Lauderdale has received authorization from U.S. Customs and Border Protection to function as a foreign trade zone (FTZ) for yachts listed for sale.

The designation means that foreign-flagged yachts listed for sale and docked at UMC can now be shown and sold to U.S. clients.

The Marine Industries Association of South Florida helped create the non-geographical marine FTZ in 2017, and more than a dozen companies have achieved the designation since then.

Bernard Calot

“Originally, we were not interested; business was going well,” said Bernard Calot, yard manager at UMC. “But our customers put pressure on us to do it. When the boats are for sale, they didn’t want to leave.”

Typically, a key component of an FTZs is the ability to import foreign-built parts such as engines without paying duty. UMC, however, opted not to register for that portion of the FTZ. Its certification only entitles yachts listed for sale to be shown to U.S. clients. The entire marina is available to be used as the FTZ, but two slips are currently designated. 

Over the past eight months working to get the FTZ certification, the yard invested about $50,000 in CBP-required cameras, video storage memory and fencing enhancements as well as hiring an agent to activate the slips when needed, said UMC General Manager Laurent Bensoussan.

Laurent Bensoussan

Dockage in the FTZ-activated slips is an additional $1 per foot per day over the yard’s standard rates.

“It’s not a money-making thing for us,” Calot said. “We did it more as a service because people requested it. Captains like it here and we want to keep them happy.”

Lucy Chabot Reed is publisher of The Triton. Comments are welcome below.

About Lucy Chabot Reed

Lucy Chabot Reed is publisher and founding editor of The Triton.

View all posts by Lucy Chabot Reed →

Related Articles

New owner revamps, reintroduces Lewis Marine

New owner revamps, reintroduces Lewis Marine

By Lucy Chabot Reed Fort Lauderdale-based Lewis Marine Supply, a 62-year-old chandlery, hosted an open house on Thursday to welcome back old clients. With new owners and operators since early …

Triton Networking after FLIBS with Universal Marine Center

Triton Networking after FLIBS with Universal Marine Center

Triton Networking returns to Universal Marine Center on the first Wednesday in November with co-hosts Ronnie’s Custom Carpet Cleaning. The old Greek yard has been revamped over the past four years …

Foreign Trade Zone part of inaugural broker event

Foreign Trade Zone part of inaugural broker event

By Dorie Cox Yacht crew and brokers from nine brokerage houses were on the job for the first charter broker show at Lauderdale Marine Center in Fort Lauderdale last night. More than 100 yacht …

Rybovich foreign trade zone a “continual boat show’

Rybovich foreign trade zone a “continual boat show’

By Dorie Cox Yachts at Rybovich have found several ways to take advantage of the yard’s new U.S. Foreign Trade Zone (FTZ) in West Palm Beach, Florida. The status was activated late last year in …

FLIBS19: Boat raffles raise money for Bahamas

FLIBS19: Boat raffles raise money for Bahamas

The boat show and the Marine Industries Association of South Florida, owners of the show, are raffling off a 2020 Pioneer 180 sportfishing vessel to raise money for relief efforts in the Abacos and …

Lewis launches concierge program

Lewis launches concierge program

By Lucy Chabot Reed Fort Lauderdale-based Lewis Marine Supply has launched a new concierge program for yacht captains and senior crew. Called Supreme Marine, the program has two dedicated …

Comments

2 thoughts on “Yachts at UMC can be shown for sale in new FTZ

  1. Lucy Chabot Reed Post author

    Other shipyards include Lauderdale Marine Center and Derecktor. Several marinas have it, too, including Bahia Mar.

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

This site uses Akismet to reduce spam. Learn how your comment data is processed.