NTSB Launches Probe Into Yacht Capsizing

By MarEx 2014-06-05 12:27:00

Various sources are reporting that the National Transportation Safety Board (NTSB) has taken over the investigation of a capsizing that occurred May 18, 2014 in Anacortes, Washington, during the launch of a brand-new 90-foot motoryacht. 

The U.S. Coast Guard completed an initial investigation into the incident before handing the matter over to the NTSB, according to both agencies. The NTSB investigation is expected to take several months.

The NTSB is investigating this incident because it is considered a major marine casualty. Major marine casualties are incidents with estimated damage over $500,000. At the time of the failed launch, the yacht was listed for sale on the brokerage market for $9.2 million.

The capsized yacht was reportedly constructed by New World Yacht Builders doing business as Northern Marine. Northern Marine was founded in 1995 and in 2009, former Northern Marine employee Andy McDonald founded New World Yacht Builders, which leased the Northern Marine name along with equipment and other assets and has been doing business as Northern Marine.

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Source: http://miamishippinglaw.blogspot.com/. Post written by Michelle Otero Valdés, Esq.