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Local yacht broker sells one yacht every two days in 2021

by: Stephanie Horsman
18/12/2021

Northrop and Johnson, a yacht brokerage firm with a Monaco branch specialising in luxury yacht sales, charters and staffing, has broken its own record by selling 141 yachts so far this year, an average of one every other day, an exceptional feat in the current climate.
Covid clearly hasn’t negatively impacted the luxury yacht market, if 2021 sales figures by Northrop and Johnson are an indicator.
Northrop and Johnson’s market for top-end yachts has reached unprecedented heights in a year that saw other industries suffer, boasting the sale of 141 yachts sold so far. This makes the third year in a row that the company, which has new offices in Monaco, has sold more than 100 yachts in a calendar year, with the highest transaction values ever seen by them.
The company has experienced an 84% rise in revenue growth across all their sectors, and a 56% increase in sales. The largest yacht sold by them this year was the mega-yacht Solo, a 71.9 metre ranked as the sixth most expensive ship sold in 2021. The 67.1 metre Anna 1, which was sold at the Principality’s branch, and the 60.4 metre Blue Moon came in a close second and third.
“It has been a very busy year for us,” said Northrop and Johnson President and COO Daniel Ziriakus. “We were very lucky in 2020 to have weathered the hardships well thanks to our ever-increasing technological prowess and the hard work and dedication of our brokers and team members. Everyone started off 2021 running, excited to properly get back to work and to work hard and our numbers speak for themselves. We are exceedingly proud of all that our teams have accomplished this year. There is strong indication that these trends will continue into 2022.”
Monaco’s participation, particularly during the Monaco Yacht Show in September, helped in this record-setting year. In addition to the sale of Anna 1, several other sales were announced that same week.
“We had countless viewings each day and a lot of strong interest in our yachts on display,” said Patrick Coote, Northrop and Johnson’s European Managing Director. “It was clear that there were fewer yachts and fewer people at this year’s show, but overall, those in attendance were high quality and seriously interested in purchasing or chartering.
“Additionally, the client experience was better, giving a more exclusive feeling and the ability for clients to more easily tour the yachts on display. As expected, there were far fewer Americans and those from the Far East than normal, however, we were pleased that it was more than made up for by the number of people from Europe and the Middle East.”
Northrop and Johnson delivers professional services in  luxury yacht sales  and purchasing,  private yacht charter,  new yacht construction,  charter management,  crew placement  and more.
 
 
Photo of Solo, source: Northrop and Johnson
 
 
 

Monaco Experiences: Alba truffle menu at La Table d’Antonio Salvatore

by: Cassandra Tanti
18/12/2021

There are few experiences as luxurious as indulging in an entire menu dedicated to the rare and delectable Alba truffle.

In an intimate dining room below the 75-year-old Rampoldi restaurant in Monte-Carlo, centuries-old tradition collides skillfully with modernity and creativity at La Table d’Antonio Salvatore.

As a special treat for guests this year, the Michelin starred chef is offering, alongside his normal menu, eight dishes that celebrate the precious Alba white truffle.

Lauded by gourmands and highly sought after by restaurants around the world, this white truffle grows spontaneously in the woods around Alba in the northwest Italian region of Piedmont. It is also staggeringly expensive. An 850gram Alba truffle recently fetched €75,000 at auction during the international Alba White Truffle Fair in Piedmont. It was bought by Italian chef Umberto Bombana for his three-Michelin star restaurant in Hong Kong.

Dry weather and changing climate patterns have limited production and sent prices soaring this year, which is why Antonio Salvatore’s Alba truffle menu is even more luxurious.

The golden, spongy tuber boasts pleasantly pungent aromas that give way to deep, earthy flavours from its cream-coloured centre. Knowledge of how to best prepare this highly-prized ingredient is generally passed down through the generations.

Chef Antonio Salvatore

The Alba truffle’s marriage with egg is well-known, and La Table d’Antonio Salvatore’s slow cooked egg is rich, creamy and comforting, elevated with the texture of finely shredded crispy potatoes, seasonal mushrooms and white truffle.

The chef stays true to the traditions of Piedmont with dishes like homemade Tagliolini pasta and delicate ‘Del Plin’ ravioli served with a roasted meat jus and Parmesan foam.

Snails and soft potato mousse serve as a nod to Italy’s French neighbour, as does the meat tartare, but it is prepared using Fassona, the finest Piedmontese beef.

The Turbot with red wine sauce, fennel and white truffle is a delicate choice ahead of another rich, wintery dish of veal with potato gateau and white truffle.

Beyond truffles, Piedmont is also known for its excellent hazelnuts, and these too dominate the menu, appearing as hazelnut oil or roasted hazelnuts to add texture and further enhance earthy flavours.

To finish, Chef Salvatore recreates the Alba truffle with white chocolate and serves it with Amaretto sabayon and white truffles, in a final show of how versatile this precious tuber can be.

The Alba truffle menu by Antonio Salvatore is an extravagant trip to northern Italy, right in the heart of Monte-Carlo, and it is available until 10th January 2022.

 

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Charles Leclerc: Season in review

by: Luke Entwistle
18/12/2021

A consistent, but often unspectacular, season from Ferrari driver Charles Leclerc earnt him seventh place in this year’s drivers’ standings. Monaco Life looks back at the Monegasque drivers’ season and what it means for next year.
The season ended disappointingly for Leclerc. The Ferrari driver went into the final race weekend looking to consolidate his fifth place in the drivers’ standings, but an error in strategy by the Ferrari team saw Leclerc only pick up one point. His team-mate Carlos Sainz, who finished on the podium, and Lando Norris, therefore both leap-frogged Leclerc.
Although not the most glamorous prize, fifth in the drivers’ standings would have represented a stellar season for Leclerc, an ample reward for his consistency across the season. The Ferrari was nowhere near the pace of the Mercedes nor the Red Bull all season, but Leclerc, more often than not, was best-of-the-rest, scoring 12 top six finishes over the course of the 22-race season.
For large parts of the season, Leclerc slipped under the radar, pumping out impressive finishes without stealing the limelight, often even without having to overtake. His strong race in Mexico was testament to this. Although a lonely race for the Monegasque driver, his superior pace relative to his other mid-field challengers kept him out of the clutches of his rivals on his way to sealing a well-earned fourth place.

British GP, photo credit: Scuderia Ferrari Press Office

His highlight of the year undoubtedly came at the British Grand Prix with his impressive second place finish, however tinged with disappointment at what could have been.
Having led the vast majority of the race after a lap one incident between Max Verstappen and Lewis Hamilton, the latter overtook Leclerc with just two laps to go. This was, however, to be his only podium of the season, with his slightly more erratic team-mate Sainz out-performing him in this regard, scoring an impressive four podiums.
MONACO GP, photo credit: Scuderia Ferrari Press Office

One of those podiums came at Leclerc’s home grand prix in Monaco – undoubtedly the Monegasque driver’s lowest point of the season. His supreme knowledge of his local streets propelled him to pole position, but a crash during his second flying-lap left his car in a state of disrepair.
Despite the best efforts of the Ferrari mechanics, the car could not be readied in time for Sunday’s race, as Leclerc broke down on his way to the grid. Having been set for the all-important pole position, at a track where it is notoriously difficult to overtake, Leclerc instead had to watch on from the pits, as his team-mate took an impressive second place.
Carlos Sainz podium win at the Monaco GP, photo credit: Scuderia Ferrari Press Office

Although an individual error was pivotal for Leclerc in Monaco, at other times team errors cost him vital points. During the late deluge of rain in Russia, Leclerc was running as high as third at one point, but as others pitted for intermediate tyres, Leclerc, by order of his team, stayed out on the slicks. This was ultimately the wrong call. The monegasque left Sochi pointless, when only a matter of laps earlier, before the confusion and chaos that the rain brought with it, he looked a podium-contender.
Leclerc’s aspirations of a fifth-place championship were put to rest in the final race of the season, once again the result of an ill-conceived tactical call. Having pitted during a virtual safety car, Leclerc found himself languishing in the lower-midfield, and crucially outside of the points. This was ultimately a mistake, and his failure to pick his way through the mid-field in Abu Dhabi meant that he only secured the solitary point. Strong points finishes for his team-mate and Norris ultimately, cruelly, deprived Leclerc of his fifth place standing at the final hurdle.
Charles Leclerc’s Ferrari at the Abu Dhabi GP, photo credit: Scuderia Ferrari Press Office

Sainz, who was in his maiden season at Ferrari, surpassed expectations. Brought in to be a more traditional number two driver, few could have foreseen him out-performing his Monegasque teammate. Leclerc, however, doesn’t feel threatened by Sainz’s success, instead perceiving their dynamic as mutually beneficial. Following the Abu Dhabi Grand Prix, Leclerc stated, “I think we have learned a lot from each other. Always when you have a new teammate, you need to see their way of working, their talent, their driving and their way of approaching a race weekend.”
Leclerc believes that Sainz’s arrival has also improved him as a driver, revealing publicly, “He has put pressure on me to be quicker… I think one of his (Sainz) strong points is tyre management. This was my weakness in 2019, I improved a lot in 2020, and thanks to Carlos, I have done so once again this year.”
Indeed, Sainz’s surprising amount of pace relative to his teammate, and his ability to conserve his tyres, raises the prospect of a scintillating intra-team, potentially title-challenging battle next year. The 2022 season sees the introduction of a number of rule changes that will herald a new era of F1 cars. Primed to benefit from these changes are Ferrari, who are touted to have a title-challenging car from next season. Ferrari team principal Mattia Binotto certainly believes this to be the case, as proven by a post-race radio message to Leclerc, which is sure to whet the appetite of Leclerc fans, Ferrari fans, and F1 fans globally: “We’re going to have fun next year!”

 
Photos credit: Scuderia Ferrari Press Office
 
 

Twins continue Christmas tradition at Palace with aunt and cousins

by: Cassandra Tanti
16/12/2021

Prince Jacques and Princess Gabriella were joined by their aunt Princess Stephanie and cousins for the family’s annual Christmas gift giving tradition at the Palace on Wednesday.
The Court of Honour was filled with Christmas cheer, carols, Santa and even circus acts in a festive celebration organised specifically for Monaco’s youngest citizens.

The Court of Honour at the Palace of Monaco came alive with the Christmas spirit on Wednesday. Photo by Eric Mathon – Frédéric Nebinger/Prince’s Palace

The annual event was started by Princess Grace and Prince Rainier to nurture the bond between the Princely family and the local community.
In the absence of Prince Albert and Princess Charlene this year, Princess Stephanie took the lead and joined her children Louis Ducruet and Camille Gottlieb, as well seven-year-old twins Prince Jacques and Princess Gabriella, in handing out the gifts to each child.
Camille Gottlieb, Princess Gabriella and Princess Stephanie hand out gifts to children at the Palace, photo by Eric Mathon – Frédéric Nebinger/Prince’s Palace

Held under strict health protocols, the Palace was determined to push ahead with the beloved Christmas tradition, which rewards young Monegasques aged between five and 12 with gifts, entertainment, and an opportunity to meet the Princely family.
The night before, Prince Jacques and Princess Gabriella joined their father Prince Albert for the film premier of ‘Naïs au Pays des Loups’ hosted by the Prince Albert II of Monaco Foundation.
Rémy Masseglia, the film’s director, and his daughter Naïs with Prince Albert, Prince Jacques, Princess Gabriella, and Oliver Wenden, Vice-President of the Prince Albert II of Monaco Foundation, at the Cinéma des Beaux-Arts in Monaco. Photo by Eric Mathon/Palais Princier

The Principality is eagerly awaiting the return of Princess Charlene who, as Prince Albert revealed last month, is seeking treatment for “emotional and physical exhaustion” following a 10-month absence in her native South Africa.
 
 
Photos: Eric Mathon – Frédéric Nebinger/Prince’s Palace
 
 

Obradovic leads Roca team to overtime victory on his return

by: Luke Entwistle
16/12/2021

Sasa Obradovic’s first game back as coach ended in victory, as AS Monaco Basketball secured a dramatic overtime win in the Euroleague, beating Lithuanian side Zalgiris 98-107.
Wednesday night’s victory in the Euroleague brought two unwanted runs to an end, as the Roca secured their first win in six attempts in the competition, whilst also registering their first away win in any competition since late October.
The Roca side showed great character to secure the win, having conceded a demoralising, on-the-buzzer equaliser, which gave the Lithuanian side the momentum going into overtime. This mental fortitude greatly impressed the new coach, as Obradovic said after the game: “It is difficult mentally to come back and play well in overtime after having conceded the equaliser in the last second… They showed very good character.”
It was largely thanks to Mike James who was formidable throughout the night, scoring 20 points and getting Monaco off to the perfect start with an early field goal. Rob Gray and Dwayne Bacon then chipped-in with their own field goals to open-up a healthy, early lead, from which the Lithuanian side ultimately couldn’t recover.
Monaco’s 12-3 overtime victory followed the pattern of the second-half, in which both teams had dominant quarters. This was in stark contrast to a first-half that was tightly contested throughout and in which no side managed to open up a sizeable lead.
Coming into the second-half with a minor deficit to overturn, Zalgiris, with an exhibition in outside of the key finishing, not only overturned the deficit but also began to build a lead. Janis Strelnieks was pivotal to the comeback, the Latvian converting an impressive 5/7 3-pointers.
Having the lead going into the second-half, Monaco now had a nine-point deficit to overturn. Playmaker James, who was on fire following his return from injury, immediately set about pulling the Roca team back into the game, nailing a three-pointer early-on. A mixture of indiscipline on Zalgiris’ behalf, and the influential play-making efforts of James who was spraying decisive passes around the court, overturned the deficit and opened up an 81-87 lead with five minutes to go.
As the buzzer approached, Zalgiris came back into the game and, with only a second to spare, benefited from Gray’s missed free-throw to convert a field goal of their own to take it into overtime. But Zalgiris’ late rally was in vain, as Monaco’s new-found resilience was enough to take them over the line.
Giving his first post-match press conference since his return, Obradovic was pleased with the win regardless of how it was obtained, saying, “I am very happy with this victory. The way in which we won is secondary… We dominated in overtime and we deserved to win.”
Obradovic will now be looking forward to his return to the Salle Gaston Médecin on Friday night where he is certain to receive a warm welcome from the home fans as his side come up against a strong Zenit.
 

 
Photo source: AS Monaco Basketball 
 
 
 

Coral reef fund directs $10 million to Phillipines

by: Cassandra Tanti
14/12/2021

The Board of Directors of the Global Fund for Coral Reefs, co-founded by the Prince Albert II of Monaco Foundation, has just approved the allocation of over US $10 million for coral reef conservation.
Following the 26th UN Climate Change Conference, the Global Fund for Coral Reefs (GFCR) Executive Board reconvened on 23rd, 24th and 25th November to review Fund progress and proposed programmes. The meeting resulted in the issuing of two decisions totalling more than $10 million USD in new disbursements for coral conservation.
The first is the approval of the Fund’s programme for the Philippines, ‘Mamuhunan sa mga Marine Protected Areas’ (Responsible Investment in Marine Protected Areas). At the heart of the Coral Triangle, the Philippines supports extraordinary levels of biodiversity,including hundreds of species of corals, sea turtles, sharks and more than 2,000 species of fish.
The Philippine programme, led by Blue Finance, focuses on catalysing the blended finance approach of the GFCR to improve the management and financial sustainability of three high-biodiversity Marine Protected Area (MPA) networks: the Verde Island Passage MPA Network, the Calamian Island MPA Network, and the Tañon Strait Protected Seascape. The three networks include 80 MPAs with more than 30,000 hectares of coral reefs.
“In a context of budget restrictions and Covid-19 recovery, blended finance solutions to generate critical finance for MPAs are a vital step toward marine conservation and natural resource management,” said Nicolas Pascal, Executive Director, Blue Finance. “Through the ‘Mamuhunan sa mga Marine Protected Areas’ programme supported by the Global Fund for Coral Reefs, generated investment revenues will allow us to sustain the financing of our MPA teams and community rangers (Bantay Dagats) in their daily activities in community development and ecosystem protection.”
Through a Philippines-based coalition of local and international actors, the programme will work to facilitate management concessions for MPAs, develop tangible sustainable revenue models, and secure up-front finance by attracting blended finance capital. Initial revenue models include MPA nature fees, a visitor centre and sales of blue carbon credits. The programme will also unlock finance for reef-positive business models such as eco-lodges and coastal aquaculture, that will, in return, ensure synergies with conservation objectives and contribute to financing for MPA management costs.
As a second decision, the Fund’s Executive Board approved the GFCR Blue Bridge, a service provided by GFCR partner United Nations Capital Development Fund (UNCDF) that deploys grant capital in the form of concessional finance instruments such as concessional loans, and financial technical assistance when needed. The GFCR Blue Bridge will support Convening Agents of GFCR programmes to achieve transformative changes by assisting early-stage reef-positive businesses with concessional instruments. By enabling development and growth of reef-positive business models and establishing financial track-records, the GFCR Blue Bridge will catalyze private sector investment for scaling and replication of reef-positive solutions developed by local entrepreneurs.
Since the GFCR’s previous Executive Board meeting, the Fund has welcomed the Government of Canada and the Green Climate Fund to its expanding public-private coalition of partners, which also includes the Paul G. Allen Family Foundation, the Prince Albert II Monaco Foundation, the governments of Germany, France and the UK, Pegasus Capital Advisors, United Nations Development Programme (UNDP), United Nations Capital Development Fund (UNCDF), and United Nations Environment Programme (UNEP).
 
 
Photo by Francesco Ungaro on Unsplash