Yacht Management Services : What are they?

16 December 2008 No Comment

We are all well aware that owning a yacht would mean that ‘we’ve arrived’ in the world…lounging on it’s fine deck, sunbathing under clear blue skies, cruising across the best Mediterrenean harbours seem like only some of the hedonistic pleasures one can look forward to when you own one of these lovely beauties.

But then, we need to realise that all this would not be possible if some-one behind the scenes would not be taking care of the more mundane things involved with yachting – fueling, cleaning, driving and then making sure that all things fall into place to give you that perfect experience. Think about it, since those decks you love lounging on would might as well be cracked, and you might as well prefer to sun-bathe on a nice beach rather than on something that’s supposed to look spanking white is more like a lousy yellow (right?!).

YACHT MANAGEMENT COMPANIES – WHAT ARE THEY?…

Yacht Management Companies (like ourselves) strive to be the one-stop shop for all your yachting needs where everything that goes into making things perfect is made perfect.

As conveyed in the paragraph above, yacht management companies have multiple-roles where they are the financial, logistical, operational and communications center for the yacht.

At times, depending on their capabilities these services may even extend to construction of customized vessels and refitting.

…AND WHAT TO DO THEY DO?

Most yacht management companies would at least do these (Top 10 list which warrants that the company you are dealing with for your boat is a yacht management company) :-

1) Boat Registration – The boat name is just that…a name. But the real identity of the boat lie in it’s registration details.

2) Boat Survey – Who else would best be able to inspect your boat that you would be seeing for the first time than someone who has sold it many times.

3) Insurance – So, is being on the water less risky than being on land?? Insurance covers all risks involved and in these times you have insurance to cover ever step such as freightage, cruising, charter, damage at sea etc.

4) Custom Clearing & Forwarding - Rarely would you want to buy a boat from your own country unless you are living in the USA or some part of the mediterrenean. Boats, being higly customised and specialised at times require complex custom clearance procedures to be adhered – which yacht management companies provide.

5) Mooring/ Berthing - Boats are moored/ berthed when not in use – usually in their home harbours to be at the disposal of their owners as and when they need them.

6) Dry-Docking – Most service activities on the hull and under-body of the boat are taken care of in dry-docks which are basins of waters that can be emptied dry to accomodate working on boats in a convenient manner.

drydock yacht 2008 Yacht Management Services : What are they?
7) Lifting the boat on Land/ Launching the boat on Water – Boat-lifting is a highly skilled and specialised service that would need service provided by the best professionals with the best equipment.

8. AMCs (Annual Maintenance Contracts) – It’s best that all management programs for yachts are undertaken by the Yacht Management Companies on a minimum annual basis which would ensure that the boat is taken care of a consistent period of time. These contracts bind yacht management companies to take complete care of the boat including charter negotiations on behalf of the owner, cleaning, maintaining, topping-up etc.

9) Hospitality Services – Hospitality Services on-board such as F&B requirements, entertainment, setting itineraries of all that can be done on-board heighten the experience of being on your boat or any chartered vessel.

10) Manning/ Crewing Administration – With access to professional crew available worldwide, Yacht Management Companies will assist in the hiring process resulting in creating a successful team. Depending on the boat and the owner’s discretion, the Yacht Management Companies are able to put together the best crew for the boat based on their experience. Once the crew is in place, all employment contracts, crew health insurance and payroll duties are executed with proper adherence to the various legal and tax implications for the yacht’s flag.