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What Exactly Is Yacht Management, And Why Is It Necessary?

By Jenna Mehdi

Those well-versed in the superyacht industry will know that owning and operating a crewed yacht over 24m is no easy task. Ever-changing administrative, technical and regulatory requirements can create a minefield of hoops to jump through, not to mention the management of the crew members living and working on your vessel. And for the busy lives of the modern yacht owner, the task is simply too much to take on alone. We teamed up with Switzerland-based yacht management company Floating Life , to learn more about the benefits of outsourcing your yacht management needs to experts in the field.

The superyacht industry is evolving at such a rapid pace, it is easy to forget how relatively young it is. Barbara Tambani, co-Director of Floating Life alongside Andrea Pezzini, recalls when yacht management services did not even exist as an established sector, and herself took a lead role in developing the early standards of the discipline. Her co-Director Andrea has worked as an Owner’s representative since 1998, alongside director roles in a number of prominent Italian shipyards. 

‘Our professionalism and expertise is important for our clients ,’ Barbara tells us. ‘Our clients know that their yacht is in the safe hands of people that have the necessary experience and are able to find safe solutions.’

Indeed, Floating Life’s management service was the first in the industry to receive the IOS 9001:2015 certification by RINA for quality. But in addition to the high standards, Floating Life meets across its management services, there should be some acknowledgement of the diversity and complexity of the tasks the team fulfils. Floating Life experts dedicate themselves to every single aspect of the yachting customer journey - from flag registration, ownership structures and shipyard maintenance through to crew support, safety and security. No matter how complex or specialised the management task, the Floating Life team has you covered with a professional and efficient service to meet your specific needs.

‘Our experience allows us to anticipate organisational issues such as booking a last minute refueling or paying a supplier for a weekend, ’ says Andrea. ‘ We also consider the possibility of breakdowns or accidents on board as it is important to act promptly to limit the damage and avoid any possible impact that may be linked to pollution.’

With dedicated contacts in each department, Floating Life has the resources and knowhow to cover all bases, leaving clients with more free time to enjoy the use of their yacht.

Offering a competitive edge with a bespoke, tailor-made service, yacht management with Floating Life offers something larger, more corporate firms cannot; that is a truly personalised touch. Indeed, the Floating Life team knows just how important relationships are in this industry. With thanks to an extensive network of shipyards and dealers, Floating Life can offer clients high-level services at very competitive prices.  

‘The yachting industry around the world is constantly changing, so it is vital to keep up to date with all the necessary rules for safety and security, ’ Andrea tells us. ‘ Yachting industry laws change frequently and there has been a lot of development over the last 20 years. Our team keeps up to date and monitors these changes around the world, so we can prevent any problems from arising.’

Maritime traditions have been around since the beginning of civilisation. But the modern superyacht industry, as we know, is still finding its place in international laws and regulations. Keeping up with these ever-evolving rules can be an impossible task to take on alone. That is why Floating Life, with its extensive, specialised knowledge, dedicated staff and tailor-made service, is here to help. 

"The yachting industry around the world is constantly changing, so it is vital to keep up to date with all the necessary rules for safety and security." Andrea Pezzini, Co-Director Floating Life

"The yachting industry around the world is constantly changing, so it is vital to keep up to date with all the necessary rules for safety and security."

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Making Yacht Ownership Easy: The Benefits of Yacht Management and Captain Services

Aug 6, 2024

Navigating the Seas: Yacht Management Explained

In the world of luxury yachts, owners are often faced with the decision of whether to manage their vessel themselves or enlist the services of a professional yacht management company. Yacht management offers a range of benefits that can make ownership a more enjoyable and stress-free experience. From planned and unforeseen maintenance, crew management to financial oversight, a management company can handle all aspects of yacht ownership, allowing owners to sit back, relax, and simply enjoy their time on the water.

The Key to Relaxation: Yacht Management Services Unveiled

One of the key components of yacht management is the provision of experienced professionals. These professionals  can bring a wealth of knowledge and expertise to the table, ensuring that the yacht is cared for and operated safely and efficiently at all times. From weekly vessel checks and wash downs to navigating tricky waters and handling emergency situations, a skilled captain provided by a yacht management team is an invaluable asset to any yacht owner. By enlisting the services of a professional yacht management it  allows the owners to relax and enjoy their time on board.

Another benefit of a management program is the peace of mind that comes with knowing that the yacht is being cared for by a dedicated professional. The management team can oversee all aspects of the vessel’s operation, from maintenance and repairs to crew management and guest services. With a captain on board, owners can trust that their yacht is being well looked after, allowing them to focus on enjoying their time on the water without worrying about the day-to-day logistics of yacht ownership.

While yacht management companies offer a range of services to make ownership easier, there are times when a full-time captain may be a better fit for certain owners. For those who prefer a more hands-on approach to yacht ownership, having a captain on board can provide a more personalized and tailored experience. A captain can work closely with the owner to create a customized itinerary, handle special requests, and ensure that every aspect of the yacht’s operation meets the owner’s specific preferences. In this way, a full-time captain can offer a level of flexibility and customization that may not be possible with a management company alone.

In conclusion, yacht management companies offer a wealth of benefits to owners looking to enjoy their vessels

without the stress and hassle of day-to-day operations. From maintenance and crew management to financial oversight and guest services, a professional management company can handle all aspects of yacht ownership with ease. However, for those seeking a more personalized and hands-on approach, hiring a full-time captain may be the better choice. With their expertise and dedication, captains can provide owners with a tailored and seamless yachting experience, allowing them to relax and enjoy the pleasures of life on the water.

Yacht Management

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What is Yacht Management?

When owning a superyacht, there are many aspects of managing your asset that are best delegated to a team of experts at a yacht management company.

There are a variety of services provided by management companies. West Nautical – leaders in bespoke yacht management, are here to tell us more about the range of services you will need to successfully run your superyacht.

Yacht Management:

A specialist management team will work with yacht owners and captains to provide a bespoke service for each yacht as the requirements as well as budget are different. The frequency of communication and input will also depend on the owners and captains’ preferences.

Yacht management is not limited to managing just your yacht, but they can look after your safety, security, accounting, crew, refit and operations management, just to mention a few.

A yacht manager needs to not only be great at communication and be a good leader, but needs relevant industry experience as well as up to date knowledge on ISM, ISPS, SOLAS codes and Port state control to ensure the yacht is abiding by all rules and regulations. The manager will also need to be well-versed with the vessels Flag State regulations and laws.

Charter Management:

Charter managers or brokers have the responsibility of marketing the yacht to the charter market as well as managing the charter booking process on behalf of the owner to maximise income and off set operational costs of the yacht.

Managing a yacht for charter is not only about the booking process but also ensuring that the charter contracts, VAT calculations and the yachts commercial and charter licences are up to date and correct for the charter itinerary.

The charter broker at a management company will also be the middleman between the charter guests and the yacht crew to ensure each and every request made is met to the best of the on-board crews’ ability.

Buying a yacht:

A yacht broker or sales manager at a management company will be able to look at your detailed requirements for purchasing a yacht and source a short list of options to find you the perfect yacht that fits your budget. Once the perfect yacht has been found, a sales manager will be able to assist when choosing the correct financing method, whether it is cash or a loan with a substantial down payment and a 20-year loan term.

Your management company will be able to arrange all surveys required in order for an insurance company to cover the yacht; some insurance companies will not insure a yacht without a surveyor’s confirmation that it is in sound condition. A survey will also highlight any major or minor maintenance issues that will allow you to negotiate the price of the yacht.

Having an experienced sales manager that you trust is key, as they will have the technical knowledge and in-depth appreciation of the market, helping you to get the best deal possible.

Financial Management:

Yacht management companies will have a person or team specialising in yacht accounting and will be able to deliver a complete financial administration package that is tailored to each vessel’s needs.

The owner or captain will be provided with regular accounting reports and maintain routine communication with all relevant parties when it comes to planning or changing the yachts budget.

Having a company managing the yacht’s finances will ensure that expenditure is monitored and that consistency and predictability in the yacht’s financial operations are maintained.

Crew Management:

Management companies will have a crew recruitment and management division who are experts in placing the right crew on the right yachts. This process will begin by searching for suitable candidates, verifying their qualifications, experience and references of each applicant and there after presenting a short list of suitable candidates to the captain and / or owner. The agent at the management company will then organise interviews and once the successful applicant has been selected, organise joining arrangements upon job acceptance.

Once the crew member has been placed, the agent will receive, process, verify and keep on file all crews’ certifications and next of kin details. They will issue seafarer employment agreements as well as facilitate all monthly payroll for all crew on board.

A management company will conduct routine crew administration, support and repatriation as well as assist and oversee any crew medical insurance claims. An agent at the management company will be able to advise owners and captains on any and all up to date MLC requirements, complaints or grievance raised.

Refit, maintenance and new-build project management:

Yacht management companies will have expertise to project manage a new build or alternatively, manage minor or major refit works on a currently owned or recently purchased vessel. From sourcing quotes from multiple shipyards for comparison purposes to having someone on the ground managing the day-to-day operations, these are all services available to yacht owners.

Most management companies will have teams made up of experienced engineers, captains and surveyors who have all made the maritime industry their lifelong careers.

A yacht refit is a complex business. Without effective management, careful planning and ongoing evaluation, it’s something that can quickly go over budget and schedule. Having an effective management company to ensure the refit is efficient and economical is key.

A management company will start by understanding exactly what the owner would like from a refit, make a detailed plan, contact suitable yards for the refit to source detailed quotes, assist with logistics and have a member of their team on the ground on the owner’s behalf.

Each yacht will need to carry out routine planned maintenance according to the build, hull material and age of the vessel, as all vessels have varied legal requirements when it comes to planned maintenance.

For example, hulls made from different materials such as fibreglass or aluminium will have different requirements when it comes to hull inspections; one may only need to be inspected every five years whereas another material will need to be inspected every two.  

Safety management (ISM & ISPS):

All vessels, including yachts, have to adhere to safety and security protocols. The two most important are the ISM Code (International safety Management) and ISPS Code (International Ship and Port Facility Security). A yacht manager will be well versed in both these codes and will ensure that the yacht is kept up to date with changes in regulations, as well as ensuring that the yacht is adhering to each and every regulation.

ISM is required in order to maintain an international standard set of safety and pollution prevention rules and ISPS, which is an amendment of SOLAS (Safety of Life at Sea), lays out the minimum safety requirements vessels need to enforce on board. This will vary from vessel to vessel based on the gross tonnage.

Insurance management:

All yachts must be comprehensively insured to travel freely and be accepted in ports worldwide. A yacht management company will be able to source key policies for your yacht.

Each yacht’s insurance arrangements are specific to the vessel. The premium will depend on the waters the yacht is sailing in, the size of the yacht, how often the yacht is being used and much more.

Registering your yacht:

There are many legal procedures in the process of yacht registration. Whether your yacht is going to be registered as a commercial or private vessel, yacht management companies will be able to assist with all legal processes and paperwork to complete the registration correctly and efficiently.

Technical and shore side support:

Technical support management includes all aspects of a yacht that allow it to function safely. Technical items include maintenance, repairs, routine services, purchasing equipment and spares from vendors and sourcing the best crew possible for the yacht.

In an emergency situation, the technical support team at a management company is able to provide shore side support by contacting relevant parties such as coast guards and nearby vessels.

The technical management team at a management company will also be versed with multiple security solutions by fulfilling the role of a DPA (Designated Person Ashore) which is the first point of onshore contact for the Captain and crew.

Geoff Moore, MD of Superyacht management company West Nautical adds ; “Having an experienced management team is vital in ensuring your vessel runs and is maintained to the best possible standard. Rules and regulations in the maritime industry are constantly changing, it is therefore in every owner and captain’s best interest to find a yacht manager they trust to keep them up to date in order to maximise the use of their yacht in the areas they wish to cruise or charter.”

Yacht management explained

Modern yachting requirements, paired with the complexities associated with global operations can be overwhelming. Evolving captains have realized that they are not the only one with the perspective to meet the owner’s needs. Why go at it alone? Outsourced yacht management provides access to a wider set of expertise than is possible to have in a crew. With various approaches to yacht management, the consistent key to success remains unwavering focus towards the clients’ best interests.

What is a yacht management company?

Envision a triangle; the three points representing the yacht owner, the yacht management company and the yacht captain/crew. Always functioning at the top, the yacht owner will determine the hierarchical dynamic between the shore-based management company and crew. A yacht management company can be a valuable partnership between the vessel, the owner, and the captain. Providing a fresh outside perspective, the management company should enhance efficiency and improve the overall guest experience. The team of experienced professionals offer support, by providing complementary knowledge, advice, resources and solutions. Not only reducing stress, a yacht management company also mitigates both financial and legal risk. Depending on the vessel’s requirements, most companies will tailor their services to management needs. Typically, the shore-based mechanism supports yacht operations with respect to accounts, technical interventions and compliance with legislative requirements.

What is yacht self-management?

Simply put, self-management is the scenario whereby the captain works directly with the owner and/or their team for all aspects of the yacht’s operation. Self-managed yachts will vary depending on the amount of detail the owner requires and how particular the captain is. Back in the day, this was the original form of yacht operations. However, with tonnage and regulatory intricacy increasing, there is a point where this model reaches a limit. Not to say it isn’t possible, however, strong caution must be exercised with this management method. Realistically, this approach is probably only an option for small or very mature operations. If engaged, a recommended external operations/management audit (above normal compliance) should be undertaken annually.

Why the need for a yacht management company?

The ownership and operation of a yacht gives rise to a number of legal, fiscal, financial, technical issues and contractual relationships. All of which require careful planning and consideration. A luxury yacht is an increasingly complex business that could land you in hot water should important responsibilities be overlooked. Not a legal requirement, but a yacht management company will take care of the headaches that come with owning a luxury yacht. Some of the hassles include safety, crew, maintenance, insurance, audits, class, flag regulation, compliance and… the list is never ending when it comes to maintaining and running a superyacht. That’s why a management solution is worth considering, taking care of the million and one tasks occurring behind the scenes on a daily basis.

What is a Flag and how do yachts decide on a Flag?

This is probably one of the most important decisions a yacht owner will have to make. Not simply a matter of patriotism or aesthetics, the flag state will dictate the law of the land, or sea in this matter. Defined, the flag state is the country or governmental entity under whose laws a vessel is registered or licensed. The chosen flag will directly impact the vessel’s privacy, taxes, exposure to liability, boarding, and overall commercial success.

The owner could choose country of residence, however the more popular choice in the superyacht world tends to be an offshore flagging. The offshore ship registry involves selecting a country whose laws are attuned to the complexities of ownership and charter operations. A good starting point is determining Good vs Bad Flags. Good flags will be on the White List maintained by the Paris Memorandum of Understanding on Port State Control (Paris MoU). Flags on this list excel in the areas of safety, security and environmental protection. As a result, they aren’t on the radar which means fewer inspections from the port officers. The Paris MoU also maintains Grey and Black Lists, where the risk of ship boarding and detentions is higher.

Not to be taken lightly, choosing a flag is a matter best undertaken under counsel of a maritime attorney. Sailing under a particular flag can be a complex decision that involves sound knowledge of international maritime law. The flag state is authorized to enforce regulations related to periodic inspection, certification, and pollution prevention. It will also determine the number of days per year that the vessel needs to berth in its place of residence.

What is Gross Tonnage?

Tonnage is an important topic in the maritime and yachting industry. Significant, because it forms the basis for numerous items, including safety regulations, manning scales, registration fees and port dues.

Initially used in reference to weight, nowadays it is a measure of the volume/size or cargo capacity of a vessel. An International Tonnage Certificate (ITC), issued by the flag administration, is necessary for vessel’s greater than 24m on international voyages. The certificate exhibits tonnage, length, breadth, and depth. For vessels below 24 meters, it is at the discretion of the flag administration whether to issue a comparable certificate or document, such as a Certificate of Tonnage or National Tonnage Certificate.

What services do yacht management companies provide?

Every owner is different and has different requirements, so the management company often offers bespoke services. Typically, yacht management duties may include:

• Liaising: This ranges from shipyards to designers and brokers.
• Updating documents: The company ensures legal, regulatory, technical, and financial aspects are current. In the long run, this can save valuable time and unnecessary expense.
• Yacht registration: Often, the superyacht management company advises on the implications that location has on the yacht’s commercial success and finances.
• Accountancy: This includes budgeting and reporting. A superyacht management company can provide a dedicated financial professional who understands the nuances of yachting.
• Assisting with finding and employing crew: This lets your captain focus on his or her priority: the safe and smooth operation of the superyacht.
• Identifying and securing berths.
• Ensuring safety compliance: Certainty it meets international standards.
• Planning and managing maintenance schedules: This includes full refits.
• Assisting with insurance: For the yacht and crew.
• Advising and/or managing charter operations.

What is a mini-ISM?

Nothing mini about this concept, the remarkable plan could mean the world of difference. Both a requirement of the MCA and Marshall Islands commercial yacht codes of practice, a mini-ISM aids to prevent disasters and impending lawsuits. Applicable to all yachts over 300 tons, the Safety Management System (SMS) should be relative to the vessel’s requirements. Many smaller yachts will also be liable in accordance to their flag.

A Mini-ISM consists of a simple plan to:

• Check and maintain all the safety and critical equipment on board.
• Train the crew for the more likely emergencies that yachts can have.
• Familiarize new crew on safety awareness and duties as soon as they join.
• Have checklists for hazardous events, such as bunkering and leaving harbor.
• Encourage safety awareness.
• Ensure that those who drive tenders, watercraft, or are charged with bridge watchkeeping really are qualified and know the idiosyncrasies of the equipment they are operating.
• Document what you do and plan to do, ensuring bases are covered ahead of an investigation.

What is a yacht/fleet manager?

A yacht/fleet manager is the primary point of contact for yacht owners to report the essentials. They are in charge of significant decisions and the overall functioning of the yacht. The following attributes and skills are vital for a yacht/fleet manage,

• Team player
• Good leader
• Multi-tasker
• Excellent communication skills
• Solid experience in the field, ideally either a chief engineer, chief officer or a master mariner.
• Acquainted with ISM, ISPS, Port State Control and SOLAS codes that cover safety measures and rules and regulations regarding marine vessels.
• Well versed with the flag state laws and regulations.

Do fleets operate virtually?

2020 fast-tracked the shift from local to remote quicker than anyone would have anticipated. With the technological advancements available today, working remotely is not only easy, but also considered the “new normal” and with it comes endless opportunity. This is no different in the yachting industry. Over the last 10 years, yachting has come a long way, with an obvious shift towards a digital way of operating. Working on-board yachts, crew are now accustomed to virtual communications and technology bridging the gap between the vessel and shore-based parties.

Yachts have been operating virtually for quite some time, communicating through email, whatsapp and VSAT whilst cruising. Uniformity is key when it comes to fleet management. Secure programs like Dropbox and Google Drive ensure operations are safely speaking the same language. A virtual knowledge base also assists with accessibility and is great for sharing latest guest preferences, changes in SOP’s etc.

The pros and cons of working with a fleet?

Fleet yacht management embraces an integrated approach, combining a plethora of resources, which could boost revenue and productivity. Some of the pros and cons include,

• Resources: Replenishment of stock/supplies from nearby fleet.
• Recruitment: Interchanging of crew, should a replacement be necessary, avoiding the lengthy recruitment process.
• Support: The larger team means access to the expertise of other captains and senior crew members.
• Emergencies: Nearby fleet could assist in the event of an emergency.

Disadvantages

• Conflict: Different leadership and management styles may lead to conflict among captains and senior crew.
• Decisions: Multiple personal preferences could result in delays.
• Logistics: If fleet are not in close proximity.
• Disgruntled crew: Insight to other work environments could result in job role comparison.
• Loss of information: With so much communication occurring, some information tends to get a bit lost.

How can Virtual Pursers assist with yacht management?

Not a yacht management company; Virtual Pursers are an extension of your crew and act as a landbased bridge to your shoreside counterparts. The administrative pressures faced by yacht owners, captains, management companies, and even full-time Pursers, can be difficult to keep on top of. Virtual Pursers “get yachting” and understand that time is a precious commodity.

Fulfilling the role of a Purser, just virtually, the team perform a wide range of services, including; vessel and crew administration, accounting, logistics, provisioning, itinerary planning and guest concierge. With over twenty years combined experience, working for an impressive array of yachts all over the globe, the team of industry experts provide a specialized service built on the foundation of practical knowledge. To name drop, the team have worked with fleets such as M/Y Anastasia, M/Y Nirvana, M/Y Barbara, M/Y October, M/Y Tatoosh, M/Y Meduse, M/y Hampshire II. Offering remote assistance to superyachts just as ‘virtual’ becomes the standard, Virtual Pursers provide a bespoke shoreside solution with the mission to save time and alleviate stress.

With access to a skilled Purser, the benefits are far reaching and can also extend to establishing uniform operations for fleets, better preparing brokers for charter, or lending a helping hand to shipyards/marinas. No matter the size of the yacht or the extent of the need, as trusted yachting professionals, Virtual Pursers are readily available to support all vessels. Taking up no space on-board, a dedicated Purser without the overheads, Virtual Pursers are proud to offer the most cost-effective Purser solution on the market. This flexible approach is ideal for yachts that are fully crewed, have minimal space on-board, or who don’t necessarily require full-time support. Visit virtualpursers.com for more.

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• Yacht Charter Management Programs Explained

Placing a yacht into charter management is a good way to reduce the cost of the boat and also offset the cost of ownership. There are different types of management programs offered by the charter industry.

We will analyze and explain here the different options to ensure a good understanding for owners of what charter management really entails.

The two most popular programs offered by most charter companies are the “Guaranteed Income Program” and the “Performance or Income Sharing Program” that, in all probability, are the two options that you will be presented with.

Guaranteed Income Charter Program

The Guaranteed Program is the option offered by most of the large, well-established companies and is very popular for owners who want to have a “no hassle” ownership experience.

Yacht Finance

The owner must qualify for financing which can be challenging because most lenders are very sticky on making loans for yachts going into charter. There are, however, a few known lenders who have certified these programs, and will approve transactions with well-qualified buyers like Essex Credit / Shore Premier Finance

Once the financing approval has been received, the buyer will then typically pay a 20% deposit, while the balance of 80% is due upon completion of the yacht at the factory. The deposit can vary and be as low as 10% or as high as the buyer wishes, which will obviously facilitate the financing of the purchase price initially. At closing the ratio is usually 20% from the buyer and 80% from the finance company. *See important note about financing issues at the end of this article.

Yacht Price & Equipment

Yacht Expenses

The program is structured so that after that deposit, the charter company pays for ALL the expenses except the mortgage but including, insurance, dockage, maintenance and general operating expenses. The owner pays literally ZERO for the entire duration of the program.

Guaranteed Income

The guaranteed payment, which is made monthly, typically amounts to more or less 9% annually of the yacht’s initial purchase price. It is enough to cover a typical mortgage payment making the entire proposition cash neutral for the duration of the program.

Yacht Charter Term / Duration

The term varies from 54 to 66 months; in general, the longer the term, the more guaranteed income you will receive. This is an important consideration when shopping companies or comparing programs.

Yacht Owner Exchange

While the boat is in service, the owner will have exchange privileges enabling sail on a similar boat at any of the company’s charter bases worldwide. While there is no charge for the actual charter, be aware that there are fees such as cleaning or “turnaround” costs, diesel, ice, etc. Familiarize yourself with the exact fee structure for the various yacht charter companies.

Yacht Maintenance

The charter company is totally responsible for the maintenance and upkeep of the yacht for the duration of the program. However, this does not mean that the yacht owner can completely leave it all up to the charter company. It is strongly recommended to thoroughly check on your boat every time you are on board for owner use. Make a list of all items needing attention from the technical staff and give it to the maintenance manager then follow up to ensure all items are completed.

Yacht Phase-Out

Four options at the end of the program.

• Private use
• Second-tier charter operation for another 5 years
• Sell the boat
• In some cases the charter company will trade the boat in, or alternatively assist the buyer to sell the boat and upgrade to a new boat to be placed back into the program.

Guaranteed Income Charter Program PROS

• No maintenance or accounting involvement – hassle-free ownership
• Full financial visibility until the end of program – absolutely no surprises.
• Cash neutral program – yacht charter company pays all operating costs and the guaranteed payment covers the mortgage.
• Worldwide owner exchange on similar yacht
• No risk to the owner if the boat does not charter for whatever reason – guaranteed payment, no downside.
• Yacht undergoes extensive phase-out maintenance work at the end of program, at the charter company’s expense.

Guaranteed Income Charter Program CONS

• No control over maintenance for the duration of the program – maintenance is done at the discretion of the charter company.
• Fixed return – no upside if the boat charters a lot and generates a large profit.
• No tax advantages available – income is deemed passive under this program, see Section 179 Explained for Yacht Ownership .

The Advantage For The Charter Company With The Guaranteed Program

• No monthly accounting, which is a huge time sink.
• Maintenance is done at the company’s discretion. This negates owner involvement which can be time consuming and often problematic for the company.
• The phase out at the end of the program allows the charter company to address all outstanding issues at one time with an independent survey as guidance.
• The boats are all interchangeable in terms of usage or booking, and so if there is a problem on one boat, the charterer’s party can be switched at the discretion of the charter company without having to account to the owner and since the owner gets paid no matter what, this is of no concern for the owner.

Performance or Income Sharing Charter Program

The Performance Program is designed to be an income sharing relationship. The owner is credited for the full net charter income after booking commissions and the charter company bills the owner for services. While this program definitely yields the owner more income, it requires a lot more personal involvement. Smaller companies tend to offer this program as opposed to the guaranteed program because it represents less risk or liability to them. As with the guaranteed program, the purchase requirements and qualifications with respect to financing, down payment, yacht specification, equipment and delivery to the base are the same as stated previously.

Charter Income Split

With the Performance Program, there is typically a split of the net charter income.

• That split usually ranges from 65% Owner – 35% Charter Company, to 80% to the owner and 20% to the Charter Company.
• The reality, often misunderstood by the boat buyer, is that the split is almost completely irrelevant and used as a marketing tool when it looks very favorable to the owner.
• Truth is, only the bottom line is relevant. It is what the owner is charged for after the split (costs of the price of services, booking commission paid to charter brokers, etc.) that truly determines the bottom line and not the split formula.

Charter Booking Revenues

Some companies rely entirely on outside booking agents, in which case the commission component is high, while others have a booking office in-house with only occasional use of outside booking agents.

• The issue here is that the outside booking agents charge 15% to 20% commission, which means that the owner starts with 15-20% less income per charter.
• Conversely, the charter company’s in-house booking office might charge less or no commission at all.
• Therefore, as an example, if there is an outside booking agent 100% of the time and the split is 80/20, then the owner will earn $64 on every $100 received.
• If there is no outside booking agent, and if the charter company does not charge a booking commission, with a split of 65/35 the owner will earn $65 on every $100. In that example, an 80/20 split that seemed very attractive at first becomes less favorable than a 65/35 split.
• This is why it is very important to know and understand how the booking commissions work because they have a big impact on the final outcome.

Yacht Expenses & Billing

Because this is an “income-sharing program”, the owner needs to know what the costs are, and how they will be billed to him.

• For example: hourly labor rate (is it $50 per hour, 75 per hour or higher), dockage and electricity costs, turn around costs, insurance or any other fixed or variable expenses the owner will be responsible to pay for.
• It is very important to analyze these costs to see what the actual bottom line income is projected to be.

Depending on the type of boat, configuration and location, the performance program will yield about 30% higher income than the guaranteed program to the owner, which is a substantial difference.

Typically, there is no phase-out for yachts in this program. The reason for this is because if the maintenance is being done regularly and diligently, the yacht should be in good condition at all times, including the end of program. If there were any issues that needed to be addressed, the owner would be responsible for the expense, which means that the phase out provision is not applicable.

Four Options At The End Of The Performance Program

• Yacht placement in a second tier charter operation for another 2 to 5 years
• Sell the boat.
• In some cases the charter company will trade the boat in or alternatively assist the buyer to sell the boat and upgrade to a new boat back into the program.

Yacht Performance Program PROS

• Better ongoing maintenance – owner is involved on a month to month basis and is billed for services; maintenance is not discretionary.
• Much higher financial return with upside potential.
• Owner is able to place the yacht into a Corporation (LLC pass-throught entity) for substantial tax advantages.
• Boat should generally be in better condition at end of program.

Yacht Performance Program CONS

• No protection from downside: if charter bookings drop off, or economic conditions or airline fares become unfavorable, the owner is still responsible for all the upkeep and costs
• No owner exchange / reciprocal privileges as in the guaranteed programs: Owner can only use own boat at her location
• Owner has to be actively engaged in the operation of the vessel – it is not “hands off” ownership.

Advantages To The Charter Company For The Performance Program

• No contingent liability that comes with a Guaranteed Program; the financial risk is with the owner.
• The maintenance is entirely invoiced to the owner and there is no phase out obligation.
• The Charter Company generally earns less income from this program, with the owner benefiting more than in the guarantee program, but the trade off is that the risk is shared.
• The owner is actively involved and the administration requirements on the charter company’s side are high compared to the guaranteed program.

Yacht Charter Management Options

The main aspects to consider for the boat buyer when choosing charter management programs are

• His/her risk tolerance (financial visibility vs. potential upside, similar to the difference between a bond and a stock)
• Need for tax benefits
• Attraction to exchange programs between locations vs. sailing in one cruising ground
• Interest in involvement in the yacht management vs. hands-off experience.

Here are some resources to help you find more information to decide which yacht ownership program is right for you:

• Charter Management Programs In A Nutshell
• Yacht Charter Management Program Pros & Cons

Financial Considerations For Successful Yacht Charter Management

There is a very important element to be considered which is not often highlighted when you are speaking with the salesperson that presents the programs and options: Exit Strategy

• Example: any loan with 80% financing (the usual configuration) paired with a maturity higher than 12 years normally results in the buyer being significantly upside down at the end of the charter program. The reason for this is that the typical charter boat depreciation and value on the second-hand market ends up being less than the loan payoff amount.
• With a longer term (15 to 20 years) the interest component is higher which impacts the principle reduction, this means that at the end of 5 years the principle has not been reduced to a level where the boat can be sold without the owner having to pay in.
• The reason that you should pay attention is because a 5-year financial proforma on any boat, paired with a 15 or 20 year-mortgage looks significantly better than one with a 10-year mortgage with regard to the monthly and annual cash flow.
• The resale value of a charter yacht is determined by the market as well as supply and demand so you need to be aware of what you will face when you want to sell.
• Depending on the company that is chosen some insist that the boat is built to a very exact specification, which would identify it as a charter boat, to the other end of the spectrum where the owner can spec the boat to their personal taste.
• As an example quoting the two extremes – A 45 foot, four-cabin purpose-built charter catamaran would have a significantly lower resale value than a 45 ft, three cabin (owners version) catamaran that was spec’d out personally. Firstly the one would be branded a charter boat and there would probably be up to 15 identical boats competing on the market at the same time versus a one-off owner’s version that is not readily identifiable as a charter yacht. In the one case the price would be driven down by supply and demand as well as the charter spec versus the alternative as stated above.

There are some variations on these programs but generally, most charter companies are set up for the two basic programs.

For more information about Charter Management, contact us .

Estelle Cockcroft

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2 thoughts on “Yacht Charter Management Programs Explained”

Hi Team, I have a catamaran due to phase out of charter in about 12 months in the Med. Do you have any recommendations for 2nd Tier companies (or any companies) to place our cat back into charter for 2-5 years again? Regards

This is going to be tough right now but perhaps try Conch Charters in the BVI

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Owners' guide to yacht management companies

Moving up from a yacht of less than 30m to 40m, 50m or more, increases the complexity of the yacht orders of magnitude. The owner of a large yacht likely will find he or she no longer has the time, the will, or the administrative resources to navigate a jungle of yard contracts, legal hurdles, insurance options, regulations, crew management, charter management, logistics or the myriad other details associated with building, repairing or ownership.

A yacht owner going it alone may find what once was a pleasant escape from the stress and pressures of the workaday world is now a surly beast in constant need of attention.

'As yachts increase in tonnage, so do the demands on the owner. A management company takes the day-to-day burden and responsibility of running the yacht away from the owner,' says a member of the Burgess Yachts management team. 'More importantly, [managers] are there to respond to urgent situations and emergencies around the clock, and to provide advice to the owner and crew in all areas.'

Running a yacht is a full-time job

Boats are inherently needy machines. Quality time on the water rarely comes without at least a modicum of thought for their care and feeding.

Owning a superyacht can take on characteristics of running an international business. For some, a competent corporate accountant and a talented captain may be able to manage the program, but for many, at least some level of professional shore-based yacht management can be a welcome relief.

'Administration of a yacht, managing its safety, paying suppliers, managing crew and charter agents is a full-time job,' says Barbara Jolly, yacht and aircraft manager of Abacus Trust Company Ltd. 'The larger the yacht, the more likely it is for such services to be contracted out. This will allow the captain to focus on its safe and smooth operation.'

Yacht management comes in many shapes and sizes depending on an owner's individual requirements. Owners may decide to hire a small firm or individual expert to handle one element. such as regulatory compliance, and another for charter management.

'Administration of a yacht, managing its safety, paying suppliers, managing crew and charter agents is a full-time job

Barbara Jolly, yacht and aircraft manager, Abacus Trust Company'

A number of firms, large and small, offer 'full lifecycle' management for every aspect of ownership, beginning with an owner's decision to build a new yacht and end with its sale.

'Our yacht management services,' says the Burgess manager, 'are tailored to each owner's specific needs and can include operations support, technical management, safety management, security management, crew administration, emergency response, insurance administration, creation of a robust offshore crew employment structure, financial management and technical consultancy.

'We also can be used as an on-call advisor for any of the owner's yachting needs.'

Other large companies offer similar menus covering a broad range of services from which owners can choose a full or partial package or take the services à la carte. Burgess says 90 per cent of its fleet is under what is termed 'full management'.

Edmiston & Company says 80 per cent of its fleet is under full management, with the remainder having contracts for some, but not all, of the services the firm offers.

'We have been asked for many other services and are always happy to support a client in any way,' says a senior manager at Edmiston. 'This has included making all necessary arrangements for three tigers to attend a party for 300 people on board a 60m yacht in a US marina.'

Administration of a yacht, managing its safety, paying suppliers, managing crew and charter agents is a full-time job

Barbara Jolly, yacht and aircraft manager, Abacus Trust Company

Management networks

If a management company does not have on-staff expertise in a specific area, it often has relationships with specialists who do.

For regulatory compliance, it may go to someone like Ken Argent of Water’s Edge Consulting Ltd., who specializes in ISM and ISPS (International Safety Management Code/International Ship and Port Facility Security Code) management and MLC (Maritime Labor Convention) compliance.

Argent’s business provides shore-based regulatory compliance services to yachts over 500GT that are engaged in trade (charter in the case of yachts) as required by the various codes, regulations and conventions.

Most broad-brush brokerage companies offer regulatory compliance services, but, says Argent, ‘Some owners prefer to deal with people who have no connection to a brokerage house.’

Other firms offer a wide range of services, but specialize in a narrower branch of management. Isle of Man-based I-Cap Marine Ltd., is an example of a larger company that focuses on a speciality slice of the management pie. I-Cap Director Stephen Brew described his company as a ‘corporate and statutory manager’.

‘A yacht manager will undertake technical management, day-to-day crew management, and day-to-day operational management of the yacht, in close co-ordination with the captain and crew,’ says Brew. ‘The corporate and statutory management of the yacht, which is what we undertake at I-Cap Marine Ltd., is in very simple terms, the management of the corporate ownership structure.

‘At the same time, we work with nearly all of the major yacht managers for yachts of all shapes and sizes. [When there is a] yacht manager involved, we tend to look after the ownership structure, accounting and VAT compliance, while the yacht managers handle all day-to-day, operational oversight of the yacht.’

Managing private yachts

By some estimates, there are more than 7,000 yachts 24m and above worldwide, but only a small percentage of their owners retain the services of a management company. Those who don’t are likely owners of private yachts that do not engage in commercial activity such as charter. So who’s coordinating all the details if not a management company?

Often captains serve as the lead management executive, hiring crew, keeping books and managing the technical aspects of the yacht. But an owner moving up in class may find the added layers of regulation and compliance strain the resources and time of his captain.

Some owners use accountants or managers within their businesses and software such as Marine CFO or Manage My Vessel to coordinate those activities in conjunction with the captain. The owner of the 85m Cakewalk, launched in the US in 2010, established a separate entity to handle the management details of his yachts.

‘We started our own management company, Yacht Logistics Inc., in 2000, after the launch of the 62m Cakewalk [the owner’s previous yacht],’ says the owner’s long-time captain, William Zinser.

‘We sent a former crew member to school to learn the safety management program required to manage our vessel. We set up our own payroll, insurance, immigration lawyer, accountant and our own safety management program,’ continues Zinser, ‘which ended up being less expensive than the alternatives. We use a shoreside engineering company and pay them as we go.

‘I initiate and oversee all of the SMS [Safety Management System] on board Cakewalk and delegate its implementation to the necessary crew to make sure it is adhered to.’

Zinser, who is a partner in Yacht Logistics, says the company now handles safety management, payroll, mail and other services for four other vessels. He thinks a management company is a good choice for novice large yacht owners.

‘A person who has never been a yacht owner before could definitely benefit from a large management company, unless he or she can put all this together himself or herself before purchasing a large yacht,’ he says.

Beware of the well-presented ‘one-stop shop’ approach, as very few companies can actually deliver this in a meaningful way.

Robert Tobin, director, Döhle Private Clients

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What do yacht management companies do? – Part 1

A superyacht can be a high maintenance asset with lots of rules to follow and things to maintain. As yachts have become bigger, regulations stricter, yacht management has become essential to the smooth running of a vessel. Today we’re starting a two-part series: What do yacht management companies do? – Part 1. 

We spoke with one leader in bespoke yacht management West Nautical. They will tell us exactly what it is yacht management companies really do to keep yachts running smoothly.

Yacht Management:

A professional management team will work with yacht owners and captains to provide bespoke services for each yacht. The frequency of communication and input will also depend on the owners’ and captains’ preferences. Yacht management is not just managing a yacht, they also look after safety, security, accounting, crew, refit, and operations management.

A yacht manager needs to be great at communication. They must be an excellent leader but also needs relevant industry experience and up-to-date knowledge on ISM, ISPS, SOLAS codes, and Port state control to ensure the yacht is abiding by all rules and regulations. The manager will also be well-versed in the vessels’ Flag State regulations and laws.

Charter Management:

Charter managers or brokers have the responsibility of marketing the yacht to the charter market. They manage the charter booking process on behalf of the owner to maximise income and offset the operational costs of the yacht.

Managing a yacht for charter is not only about the booking process. They ensure the charter contracts, VAT calculations, and the yacht’s commercial and charter licences are up to date and correct for the charter itinerary.

The charter broker at a management company will also be the middleman between the charter guests and the yacht crew. They will ensure they meet every request made to the best of the onboard crews’ ability.

Buying a yacht:

A yacht broker or sales manager at a management company will look at your detailed requirements for purchasing a yacht. They will source a shortlist of options to find you the perfect yacht that fits your budget. Once you have found the perfect yacht, a sales manager will help choose the correct financing method, whether it is cash or a loan with a substantial down payment and a 20-year loan term.

Your management company will arrange all surveys required for an insurance company to cover the yacht. Some insurance companies will not insure a yacht without a surveyor’s confirmation that the yacht is in sound condition. A survey will also highlight any major or minor maintenance issues that will allow you to negotiate the price of the yacht.

Having an experienced sales manager that you trust is key. They will have the technical knowledge and in-depth appreciation of the market, helping you to secure the best deal possible.

Financial Management:

Yacht management companies will have a person or team that specialises in yacht accounting. They will provide a complete financial administration package that is tailored to a vessel’s needs.

The team will provide the owner or captain with regular accounting reports and maintain routine communication with all relevant parties when planning or changing the yacht’s budget.

Having a company managing the yacht’s finances will help ensure the yacht’s expenditure is tracked, and that consistency and predictability in the yacht’s financial operations are managed.

Crew Management:

Management companies have a crew recruitment and management division that are experts in placing the right crew on the right yachts. This process will begin by searching for suitable candidates, verifying their qualifications, experience, and references for each applicant. They will then present a shortlist of qualified candidates to the captain and/or owner. The designated agent at the management company will then organise interviews. Once a yacht has chosen a successful applicant, the agent will then organise joining arrangements upon job acceptance.

Once a crew member is placed, the agent will receive, process, verify and keep on file all crews’ certifications and next of kin details. They will issue seafarer employment agreements as well as facilitate all monthly payroll for the crew on board.

A management company will conduct routine crew administration, support, and repatriation and assist and oversee any crew medical insurance claims. An agent at the management company will advise owners and captains on all up-to-date MLC requirements, complaints, or grievances.

Geoff Moore, MD of Superyacht management company West Nautical says;

“Having an experienced management team is vital in ensuring a vessel is run and maintained to the best possible standard. Rules and regulations in the maritime industry are constantly changing, it is therefore in every owner and captain’s best interest to find a yacht manager they trust to keep them up to date in order to maximise the use of their yacht in the areas they wish to cruise or charter.”

About West Nautical:

West Nautical sells, charters, and manages superyachts from their head office in Newcastle upon Tyne. The business currently employs a team of 21 staff throughout their offices based in the UK, Russia, France, and Cyprus.

Since its inception over 25 years ago, West Nautical has become recognised as one of the most respected, trusted, knowledgeable, and accountable professional services firms in yachting–because of its relentless determination to act in our clients’ best interests. Their approach and attitude are transparent, refreshing, and focused on providing value-added services delivered simply, elegantly, and affordably. Visit their website here – https://westnautical.com .

For yacht charter, sales or management; please get in touch with Managing Director Geoff Moore at  Geoff.moore@westnautical.com

To read what do yacht management companies do? – Part 2, Click here

West Nautical

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The Ultimate Guide to Yacht Charter Management Programs for Owners

• by yachtman
• September 23, 2023 June 22, 2024

Yacht charter management programs are essential for owners who want to make the most of their luxury vessels. These programs offer owners the chance to earn income by renting the yachts when they’re not in use. Plus, they ensure the boats are well managed and taken care of. If you’re a seasoned yacht owner or considering entering the industry, understanding yacht charter management is key for success. Here’s an ultimate guide on all you need to know.

When it comes to yacht charter management , there are some key components to know.

• There’s the marketing and promotion part. Getting the right marketing strategies can attract potential clients and give more bookings for your yacht. From professional photography to advertising campaigns, these efforts help make your yacht visible.

Another important element is crew selection and training. A well-trained crew is essential for providing guests a great experience. From captains to chefs, each member plays an important role in making guests’ time memorable. Investing time and resources into hiring and training staff is important for success.

Maintenance and repairs must be considered too. Inspections and maintenance ensure your vessel remains in great condition. Having reliable contacts in the marine industry for repairs and upgrades is important for minimizing downtime and making sure guests are happy.

Here’s an interesting fact: Luxury charter yachts in places like Monaco or St Tropez can command rates of 1 Million per week during summer, according to Boat International. It shows the potential earnings in the world of yacht charters.

As an owner, choosing the right yacht charter management program is crucial for making the most of your investment. By understanding components and industry trends, you can make decisions that help you become successful and make sure guests have great experiences aboard your yacht. Join us on this ultimate guide and unlock the secrets of yacht charter management programs for owners.

Understanding Yacht Charter Management Programs

To better understand yacht charter management programs and their benefits, delve into the sub-sections: What is a Yacht Charter Management Program? and Benefits of Participating in a Yacht Charter Management Program. Discover the comprehensive solutions these sub-sections offer in navigating the world of yacht charter management programs.

What is a Yacht Charter Management Program?

A Yacht Charter Management Program offers help to yacht owners for the efficient running of their vessels. It involves hiring a professional management company to manage chartering, upkeep, marketing and administration.

• It lets owners make money by chartering out their yachts when not in use.
• The management company lists the yacht on charter websites and promotes it to clients.
• They manage inquiries, bookings, contracts and payments.
• They also look after inspections, repairs, cleaning and necessary supplies onboard.

Owners can get advice on pricing to increase their income. The management company uses its industry knowledge and market info to suggest competitive rates that appeal to clients and are profitable.

By enrolling in a Yacht Charter Management Program, yacht owners get:

• Time-saving: The management company takes care of all admin and marketing, freeing up the owner’s time.
• Professional expertise: The team of professionals employed have lots of knowledge and experience in the yacht charter industry.
• Risk mitigation: The program keeps things legal and safe, while minimizing potential risks.
• Increased visibility: Through the management company’s marketing strategies, yachts get good exposure to potential clients.

To maximize the Yacht Charter Management Program:

• Communicate: Talk to the management company about any changes needed for marketing or maintenance.
• Be available: Openness to charter bookings during peak and off-peak seasons attracts more clients and more income.
• Keep the yacht in top shape: Maintenance and repairs are essential for guest satisfaction and positive reviews.
• Listen to feedback: Getting feedback from charter guests helps identify areas to improve and delivers a better customer experience. Changes suggested can lead to good word-of-mouth marketing.

With an active Yacht Charter Management Program and these tips, yacht owners can make money from their assets and get professional assistance with managing their yacht charter operations.

Benefits of Participating in a Yacht Charter Management Program

Participating in a Yacht Charter Management Program offers many advantages.

• Yacht owners can make money from their vessels with no stress. By placing them in charter, they can balance out the costs of upkeep and running with the income from rentals.
• These programs provide professional maintenance and repairs. Skilled technicians guarantee the boats are kept in perfect shape, cutting down downtime and making customers happy.
• Owners can get access to a large network of charter clients. This boosts their chances of finding renters and ensures regular bookings all year round.
• They also get comprehensive marketing assistance. Through ads, online listings, and partnerships with influencers, yacht owners can reach more people and attract more customers.
• Financial reporting is transparent. Owners receive statements with the rental revenue, expenses, and profit share. This shows them their investment’s performance at all times.
• Lastly, these programs offer special features to meet individual needs. This includes specialized customer service and access to exclusive events or places to improve the experience for owners and renters.

Fun fact: Forbes predicts that the global yacht charter market will be worth $25 billion by 2027 . (Source: “Forbes”) .

How to Choose the Right Yacht Charter Management Program

To choose the right yacht charter management program for you, evaluate the reputation and experience of the charter management company. Examine the terms and conditions of the program to ensure it aligns with your needs. Understand the revenue sharing and income potential this program offers for efficient decision-making.

Evaluating the Reputation and Experience of the Charter Management Company

When choosing the right yacht charter management program, it’s very important to evaluate the reputation and experience of a charter management company. Trustworthy and experienced companies are key for a pleasant sailing experience.

To make sure you get a reputably experienced company, consider:

• Customer Reviews: Check out customer reviews online. Positive feedback from happy customers means a great service.
• Years in Business: A company with many years in operation shows expertise and reliability.
• Fleet Size and Quality: See how big the fleet is and if it’s well-maintained. A big fleet is a good sign, and quality vessels guarantee comfort.
• Industry Certifications: Does the company have certifications from professional associations? They show the company follows industry standards.
• Professional Team: Look at qualifications and knowledge of the company’s team, like brokers, captains, engineers, and crew. A knowledgeable team is helpful for advice.

Don’t forget to get info from different sources, like online, forums, and referrals.

Plus, trust your gut feeling when making the decision. If something doesn’t feel right, search for other options.

In the end, a reliable charter management company will make your yacht charter experience better and give you peace of mind. So, choose wisely!

Examining the Terms and Conditions of the Program

When it comes to choosing a yacht charter management program, it’s essential to take a close look at the terms and conditions. This will help you comprehend the duties, responsibilities and rewards that come with the program.

Take a peek at these key areas of examination:

• Ownership Rights – Check if you still own the yacht or if it’s become part of the charter company’s fleet.
• Financial Management – Find out the structure of payments, revenue splitting & maintenance costs.

Don’t forget to review any liability provisions, insurance coverage & dispute resolution procedures outlined in the terms & conditions.

For example, a yacht owner once went into a charter management program without inspecting the terms & conditions. Later, they realized ownership rights had been passed to the charter company for good. This caused major problems for their long-term plans.

By carefully reading and understanding the terms & conditions prior to entering any yacht charter management program, your interests will be safe and you can make an informed choice.

Understanding the Revenue Sharing and Income Potential

Gaining a grasp of the revenue sharing and money-making possibilities with a yacht charter management program requires taking into account multiple elements, like charter rates, operational costs, and commission structures . Examining these details will assist in choosing the right program for you.

It’s also important to assess the trustworthiness and performance of the charter management business. Researching customer reviews from other yacht owners can give you a better idea of their success in providing income for yacht proprietors.

In this cut-throat industry, it is essential to make the most of every opportunity. Choosing the right yacht charter management program can maximize your income potential and ensure long-term profits. Act now to seize this chance to increase your returns.

Keep in mind that deciding on a reliable management program can have a huge effect on your earnings. Don’t wait – take action today!

Steps to Enroll in a Yacht Charter Management Program

To enroll in a yacht charter management program, streamline your process by researching various charter management companies, reaching out to potential providers for program details, assessing the costs and fees involved, and carefully reviewing the program requirements and participants’ responsibilities.

Researching Different Charter Management Companies

It’s crucial to take key steps when researching various charter management companies. Firstly, you must gather info about every company’s reputation and experience . You can do this by checking customer reviews and testimonials, and asking industry professionals for their recommendations.

Also, it’s important to assess the range of services each company offers, like marketing, maintenance, repairs, and financial management . That way, you can pick a charter management company that matches your needs and goals.

Making a table to compare the companies’ attributes is helpful. Include company name, years in operation, customer reviews rating (1-5), services, and pricing structure . This way you can quickly identify each company’s strengths and weaknesses.

When researching the companies, remember to consider unique details that set them apart. Specialty services or partnerships with luxury brands or yacht manufacturers, for example, can show the company’s expertise and exclusivity.

The emergence of online platforms that link yacht owners with potential charter clients has changed the industry. They provide a convenient way for both parties to connect and negotiate agreements. As tech develops, these platforms may become even more relevant to charter management.

Contacting Potential Charter Management Companies to Inquire about their Programs

• Research potential charter management companies that align with your goals and preferences.
• Compile a list of questions to ask representatives regarding fees, duration, training, and support.
• Reach out to the companies to schedule a meeting or inquire about their programs.
• Listen to their responses and take notes.
• Ask follow-up questions to gain a comprehensive understanding.
• Discuss any concerns with the representative and seek clarification.
• Compare the information gathered and evaluate which one aligns best with your needs.

Remember that each suggestion is essential for an informed decision. Research helps create a shortlist tailored to you. Questions make sure no crucial info is overlooked. Contact companies directly to gather program details firsthand. Active listening allows you to absorb influential aspects for better evaluation. Address concerns upfront to assess customer response. Compare multiple options to select the perfect program.

Follow these steps and pay attention to detail to confidently contact charter management companies. The perfect program awaits – it’s up to you to seize the opportunity!

Evaluating the Costs and Fees Associated with the Program

Assessing the costs and fees connected with a yacht charter management program is an essential part of making a smart decision. By taking the time to look closely at the financial details, potential participants can decide if the program fits in with their budget and investment plans.

To make this easier, we have created a table that displays the different costs and fees connected to a standard yacht charter management program. This table gives a clear overview of the expenses, so people can compare different programs and make a wise choice.

The table below shows the Costs and Fees Associated with the Program:

Along with these costs and fees, it is important to think about other things such as tax commitments, fuel expenses, and any unexpected repairs or emergencies that may crop up during ownership.

A great tip for assessing costs is to closely look at each part of the program’s pricing structure. Sometimes, lower upfront costs may mean higher maintenance fees or vice versa. It is vital to analyze these facts to find out how affordable a yacht charter management program really is.

By going over all the relevant costs and fees, individuals can make sensible decisions when signing up for a yacht charter management program.

Reviewing the Requirements and Responsibilities of Program Participants

Before enrolling in a yacht charter management program, it’s crucial to review the requirements and responsibilities of participants. This helps them make an informed decision and understand what’s expected of them.

The table below provides an overview:

Besides these main points, there are some other factors to consider. Communication skills are essential as program participants will be talking to clients. Plus, customer service experience can prove helpful in providing great charter experiences.

Let me tell you a story to emphasize the importance of reviewing these requirements. My friend enrolled in a yacht charter program without fully understanding the responsibilities. They didn’t have much knowledge of maritime laws and lacked experience managing vessels, which caused them to struggle to meet certain expectations. This story shows why it’s vital to review and comprehend the requirements beforehand.

Takeaway: Before beginning your yacht charter management journey, make sure you properly review and understand the requirements and responsibilities.

Benefits and Responsibilities of Yacht Owners in a Charter Management Program

To maximize the benefits and responsibilities of yacht owners in a charter management program, dive into the world of generating additional income from yacht charter bookings, handle maintenance and repair responsibilities effectively, and ensure yacht safety and compliance with regulations.

Generating Additional Income from Yacht Charter Bookings

Optimize your listing with high-quality photos and detailed descriptions. Showcase unique features to attract potential clients.

Research market rates for similar yachts in your area, and adjust prices according to seasonal demand.

Utilize various marketing channels to reach a wider audience.

Give an unforgettable experience with top-notch customer service, well-maintained vessels, and professional crew members.

Positive reviews and word-of-mouth recommendations can boost bookings.

Partner with a reliable charter management company for additional income.

Offer special packages or themed charters to attract specific market segments.

Yacht owners who have implemented these strategies have witnessed remarkable growth in their earnings.

Leverage digital marketing tools, partner with experienced charter brokers, and strive for excellence in service delivery.

Careful planning, attention to detail, and a commitment to excellence will help yacht owners generate additional income from yacht charter bookings.

Maintenance and Repairs Responsibilities

Neglecting maintenance of yachts can lead to costly repairs and long-term damage. To avoid this, regular checks, cleaning, and servicing are essential. Any malfunctions or damages should be addressed promptly. Qualified professionals should be trusted for maintenance and repairs. Documentation and record-keeping of all activities are also important. This will help track the yacht’s condition and be useful for resale or insurance claims. Following manufacturer guidelines and regular inspections can extend the lifespan of a yacht.

The importance of adhering to maintenance responsibilities has been highlighted by an incident of a yacht owner who neglected maintenance for years until a critical issue arose. The repair costs skyrocketed due to additional damage caused by negligence .

Ensuring Yacht Safety and Compliance with Regulations

Yacht owners in a charter management program play a crucial role in safety and compliance. This involves adhering to local and international maritime laws, and following safety protocols set by the charter management company.

To ensure yacht safety, owners must regularly inspect and maintain vessels. This includes mechanical systems, electrical equipment, safety gear, and navigation instruments. Issues and deficiencies should be addressed quickly through repairs or replacements.

Yacht owners should know the regulations in the industry. They should understand the safety equipment requirements, crew qualifications, navigational restrictions, and environmental protection measures . This way, their vessel meets all legal standards.

Yacht owners must educate their crews on emergency procedures, first aid techniques, fire prevention methods, and evacuation protocols . This creates a safe environment onboard.

An example of the commitment to safety involves an owner who noticed an inconsistency in the vessel’s compass readings. Realizing the danger this posed, they contacted professionals for assistance and had the issue resolved before any guests set sail.

The Process of Chartering Your Yacht through a Management Program

To successfully charter your yacht through a management program, you need to master the process of marketing, handling bookings, and managing charter clients. Explore the sub-sections – marketing and promoting your yacht for charter, handling bookings and reservations, and selecting and managing charter clients – to ensure a smooth and profitable yacht charter experience.

Marketing and Promoting Your Yacht for Charter

Marketing and promoting your yacht for charter is essential for success. Showcase its unique features and amenities so you can attract potential clients and make more bookings. Here are some tips to consider:

• Professional Photography: Invest in high-quality professional shots that show off the beauty and luxury of your yacht. Captivating images will improve your marketing materials and online listings, and encourage people to check out your yacht.
• Online Listing Platforms: Create detailed listings on popular yacht charter sites. Include vital info about specs, amenities, crew, and availability. These sites give you global reach to potential customers.
• Social Media Presence: Have a strong presence on social media platforms such as Facebook, Instagram, and Twitter. Post content like photos, videos, testimonials, and updates about your yacht’s availability or special offers. This will increase brand awareness and draw followers who might be interested in booking your yacht.
• Collaborate with Travel Agents: Partner with travel agents who specialize in luxury travel or yachting vacations. They have a wide network of people searching for unique experiences like chartering a private yacht. Provide them with info about your yacht to expand your reach to their clients.

Make sure to keep your marketing materials up-to-date and stay informed about industry trends. This will keep you competitive in the charter market.

Effective marketing and promotion of your yacht will boost its visibility among charter clients. Invest time and resources into crafting marketing materials tailored for this purpose. This will attract more bookings and maximize the revenue from chartering your yacht.

Handling Bookings and Reservations

Streamline the booking and reservation process with dedicated software or systems.

Respond quickly to inquiries – time is of the essence!

Have policies and procedures in place for flexible changes.

Keep clients in the loop with all the information they need.

Also, remember to offer personalized service and attention to detail to make the booking experience special.

Act fast and professionally when handling bookings and reservations.

Don’t miss out – take control of your yacht charter management now!

Selecting and Managing Charter Clients

Choosing and handling charter customers is a key part of chartering your yacht through a management program. It’s important to pick the right people, for a great experience for both sides.

Think about the customer’s preferences, experience level, and budget. So you can make the charter fit their needs and expectations. Also, assess their sailing qualifications, to make sure they’re good for your yacht.

Keep contact with potential customers. Answer any questions and worries, and create trust. Give clear instructions about the yacht, like restrictions and limits on trips and activities.

Use digital platforms and marketing to attract clients who fit your target market. Social media and online ads can help.

A bad example of picking the wrong clients is when a yacht owner didn’t check the customer properly. They had no sailing experience and no qualifications. Things went wrong during the charter, with damage onboard. This shows how essential it is to select and manage charter customers well.

Tips for Maximizing Revenue in a Yacht Charter Management Program

To maximize revenue in a Yacht Charter Management Program, equip yourself with invaluable tips. Set competitive charter rates, offer special packages and incentives, and maintain excellent customer service and reputation. These strategies are the key to success and profitability in the yacht charter industry.

Setting Competitive Charter Rates

To stay ahead in the yachting industry, it is vital to set competitive charter rates. Here are 6 tips to maximize revenue:

• Research the market: Analyze trends and competitor pricing.
• Price based on value: Consider amenities, crew expertise, and service.
• Adjust rates for peak seasons: For maximum profit.
• Offer incentives: Special offers like discounts or extended charters.
• Flexible pricing options: Different packages to cater to customers.
• Regular review/adjust: Evaluate pricing strategies based on feedback.

Stay updated with competitors, customer preferences and trends. With these considerations, you can optimize your yacht charter management program and maximize revenue.

Pro Tip: Monitor market demand and adjust charter rates for competitive success.

Offering Special Packages and Incentives

Customized packages, seasonal discounts, referral programs, last-minute deals, and loyalty rewards are all key strategies for increasing revenue in yacht charter management programs.

Tailor packages for clients to make their experience unique. Offer discounts during off-peak seasons to book charters when demand is lower. Implement referral programs to reward existing customers. Create a sense of urgency with last-minute deals. Recognize and reward repeat customers with exclusive benefits.

Analyze target markets to stay on top of trends. Regularly review special packages and incentives to remain competitive. These strategies will help charter companies maintain a healthy revenue stream while providing excellent experiences for their clients.

Maintaining Excellent Customer Service and Reputation

In a yacht charter management program, customer service is key . Customers must be valued and their needs met quickly. Addressing any problems with efficiency and empathy will help build trust and create strong relationships. Showcasing the special qualities of the yacht charter program can make it stand out from other competitors and draw in more customers. By always providing great service, the program can become renowned as a reliable choice for luxury yacht charters.

Yacht owners: arm yourself with info from this article! Understand the benefits & considerations of each charter management program. Choose the one that fits your needs & maximizes your yacht’s potential.

Communication & a strong working relationship with the management company are essential for success. Follow these guidelines & you’ll have a profitable charter operation.

Pro tip: evaluate & review the performance of your chosen management program. Identify areas for improvement & optimize returns!

Frequently Asked Questions

FAQ 1: What is a yacht charter management program for owners?

A yacht charter management program for owners is a service offered by yacht management companies that handles all aspects of chartering a yacht. This includes marketing, bookings, crew management, maintenance, and financial administration.

FAQ 2: What are the benefits of joining a yacht charter management program?

Joining a yacht charter licensing program can offer multiple benefits for owners. Firstly, it allows owners to offset the cost of yacht ownership through charter income. Additionally, it eliminates the hassle of dealing with charter bookings and administrative tasks, allowing owners to focus on enjoying their yacht.

FAQ 3: How does the yacht charter management program handle bookings?

The yacht charter management program takes care of marketing the yacht and securing bookings. They have a network of brokers and platforms to promote the yacht and handle inquiries. The program also manages the booking process, including contracts, payment collection, and coordination with the yacht charter crew .

FAQ 4: What happens if there is damage to the yacht during a charter?

In the event of damage to the yacht during a charter, the yacht charter management program typically has insurance coverage to handle the costs. They will work with the insurance company, arrange for repairs, and ensure that the yacht is brought back to its original condition.

FAQ 5: What role does the yacht owner play in the charter management program?

The role of the yacht owner in the charter management program depends on the owner’s preferences. Owners can choose to have a hands-on approach or leave all management tasks to the program. However, most programs involve owners in decision-making regarding major issues, such as maintenance and charter booking tips .

FAQ 6: How are the expenses and revenue from charters handled?

The yacht charter management program takes care of all financial aspects related to chartering. They handle the collection of charter fees, deduct their management fees and expenses, and provide regular financial reports to the yacht owner. Owners can expect to receive their share of revenue from charters on a regular basis. For more information, check out a guide to yacht charter management .

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Stress-Free Yacht Ownership Enjoy the journey

Luxury Yacht Management

Yachting is a passion, and we are proud to share that passion with our discerning clients and capable superyacht crew. Moran Yacht Management offers a comprehensive and personalized luxury yacht management program, handled by experienced professionals who understand the business side of yachting and the unique needs of yacht owners.

As an accredited, ISM-Certified management company, Moran Yacht Management provides a wide range of shore-based services, including: Crew management, Financial management, Technical management, Operations management, Safety & Security compliance, and more.

Our strength is our experience and our commitment to our clients. Our philosophy is simple: to enhance the experience of yacht ownership by providing our clients with peace of mind and the confidence that their yacht is in good hands.

We invite you to contact us today to learn more about our luxury yacht management services and how we can help you enjoy your yacht to the fullest.

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Our team includes veteran captains and engineers whose collective experience in yacht management is unmatched and envied by the competition. We are uniquely positioned to provide a custom, world-class crew and ship management program. Our project management team at Moran is always available to assist and meet the complex demands of yacht ownership. Our response is personal and immediate, and we are committed to exceeding our client’s expectations of luxury yacht management.

Operating a yacht is akin to running a small corporation and our luxury yacht management team proactively assists Owners, captains, and crew with all the details. We are available 24/7 to guide and assist through all of the complexities of day-to-day yacht crew and ship operations.

Yacht Safety & Compliance

Moran Yacht Management considers safety and security a culture, both onboard our yachts and ashore. Through extensive experience and Flagship management software, we ensure our fleet is safe, secure, and compliant.

Knowledgeable and responsible shore-based accounting from our superyacht management team allows the Captain and crew to do what they do best – running a fine yacht and exceeding the Owner’s expectations.

Crew and ship management is imperative for smooth maintenance, which facilitates the optimal safety and reliability of any yacht. Yacht management reduces the risk of operational failure and ensures the vessel is always ready for Owner and Guest enjoyment.

Contact a Yacht Manager

Contact our yacht management team to learn about our services and the benefits of working with our team.

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What Is Yacht Management?

What a Yacht Management Company Does Yacht management jobs entail so many different aspects of the maintenance process for boats that it can sometimes be difficult to understand exactly what you are paying for as a yacht owner. Although some aspects of yacht maintenance can be completed by owners themselves, to a lower level of success due to a general lack of expertise, the following are some of the services where a team of professionals will be the best option available:

• Painting & fiberglass repairs
• Engine & generator servicing
• Restorations and refits
• Dockside service
• Financial management

These services are amazing, but some people often opt to do all of these maintenance procedures either by themselves or without the help of a professional yacht management company. This is not recommended, but why?

Why Consider Professional Yacht Management Services? There are many reasons to consider a team of professional yacht management service providers instead of the help of contractors or your own know-how. For one, these professionals have conducted these services for years as a profession and know the ins and outs of vessels like the back of their hands. This is a skill that can really only be accumulated from years of experience in the field. With expertise also comes the equipment necessary to make every aspect of the maintenance process more effective, something that other people looking to partake in this type of upkeep do not have access to.

South Florida Yacht Management Done Right  If you are looking for expert services that keep yacht upkeep costs low in the South Florida area, then be sure to get in touch with Yacht Management South Florida, Inc.! Our Fort Lauderdale boatyard is equipped with the best team and equipment in the industry and would love to be of assistance. Be sure to read some of our other articles to learn more about yachts and their maintenance of them, plus much more.

Related Readings

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• Boating Terms to Know

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How much is Yacht Management

• How much is Yacht Management?

Motor yachts, specifically luxury cruisers and sailing yachts, are becoming increasingly popular. This has also resulted in an uptake in the demand for yacht management services, from companies, which help you manage your yacht more effortlessly and efficiently. That being said, it’s no wonder that the question on the minds of many is how much yacht management actually costs. Here are just a few tips to help you get a better grasp on the matter.

Yacht Management Companies Prices Vary from Boat to Boat

Depending on the size, model, and manufacturer of your yacht, the prices of yacht management can significantly vary. What’s more, depending on the exact type of services you wish to hire the company for will also have a huge impact on the overall cost. Your location is also crucial, as prices vary from country to country and even from state to state. Nevertheless, you can still calculate an estimate of what you can expect your final price will be, before contacting the company.

Receiving an Expected Estimate of the Cost of Hiring a Yacht Management Company

Knowing how to calculate an expected estimate of the cost of a yacht management company, before contacting the company for a quote themselves, can save you time. What’s more, it will give you a better certainty in the ultimate decision of hiring the company of your choice with regard to the monetary value they provide you with. Here are a few tips on how to calculate the cost.

• Depending on the size of your yacht and its initial price, you can get an estimate. Usually, the annual cost resides within ten percent of the estimated value of the price itself. (e.g. if you have a $5m yacht, you should expect to pay $500,000 each year for its maintenance)
• Which services do you require? Usually out of these 10 percent, 30 percent go for the maintenance of the vessel itself, 25 to the personnel cost, 15 are the expected expenditures, 10 go for logistics, 10 for consumables, 7 for administrative expenses, and 3 for remaining expenses.
• Whether or not the above services fall in line with your expectations of what your yacht management company should do, you can get a pretty fair estimate of what you should expect to pay to your company.

Having trouble selecting the right yacht management company? Our team of experienced yacht professionals help. Vessel Vendor is a full-service yacht brokerage firm that offers an array of boating services from listing your yacht for sale  to answering common boat related questions. Call today to learn more about our services and how we can help you with all your yachting needs.

Additional Yachting Resources:

• Yacht Management
• Common Yacht Management Services
• Yacht Management Software vs. Yacht Management Companies
• Managing Your Yacht
• About Boat Maintenance
• Questions to ask your Yacht Management Company
• Do Yacht Management Companies Offer Crew Services?
• Does Yacht Management Include a Captain?
• Who Needs a Yacht Management Company?
• What is a Yacht Management Company?
• Finding the Right Marina for Your Boat
• FAQ About Boat Yards
• How to Select a Boat Yard
• Common Boat Yard Maintenance

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Yacht Management

Yacht ownership made effortless

The Joy of Yachting

We foster a tangible yacht culture and community that thrives on responsible stewardship and mindful practices. We are committed to promoting unforgettable experiences, efficient operations, and creative opportunities throughout every aspect of yacht ownership.

Y.CO Yacht Management Services

Tailormade Solutions

Combining deep experience, cutting-edge technology, a unique approach to crew culture and a superhuman level of efficiency: we elevate Yacht Management into yacht mastery.

Y.CO Yacht Management

Knowledge is Power

The impressive size of our fleet and our many years of experience allows us to predict problems before they happen, solve intricate issues and apply specialist insight whenever it’s needed.

Culture Counts

Culture counts for everything. We build strong, enterprising crews with dynamic personalities and big ideas, to bring not just efficiency to your yacht, but creativity too.

The World at Your Fingertips

A singular point of contact, for every question. An entire community of global experts at your fingertips. You call the shots. We bring the solutions.

Expertise in Every Area

Financial Management

We provide cost-efficient governance, corporate-level financial solutions ensuring compliance, accuracy, transparency and control across all operations.

Maritime Compliance

We are committed to providing an effective and compliant safety management system that promotes the highest levels of safety, security and environmental protection. It goes without saying that all our crew are experienced, qualified and trained to ensure consistent levels of safety onboard are maintained.

24/7 Emergency Response Team

If the unforeseen happens, your operation is supported by our emergency response team, who are available 24/7/365 to respond to incidents, coordinate emergency support, liaise with insurers and coordinate an integrated media response.

Crew and Culture

We attract and retain highly experienced and talented crew, whilst creating a tangible onboard culture that nurtures first-class service, longevity and peace of mind.

INSURANCE COORDINATION

We offer bespoke insurance solutions for your yacht and crew from build-phase right through the life cycle of the yacht’s operation. We leverage our strong relationships with insurance providers to achieve optimal coverage at competitive pricing.

TECHNICAL SUPPORT

Through annual technical inspections, ongoing technical consultancy and emergency technical assistance available 24/7, we provide thorough technical support to ensure your yacht is maintained for maximum reliability, and her resale value protected.

Warranty Management

Y.CO provides a comprehensive solution to warranty management. With added services we endeavour to achieve the best possible solution for the yacht and Owner, with the aim of keeping the yacht operational and maintaining the highest possible standards.

Procurement

We engage with carefully selected, reputable suppliers, leveraging our long-standing industry relations and fleet buying-power to negotiate fair and competitive pricing and agree favorable terms on behalf of our clients.

Refit Project Management

We offer proactive solutions and experienced resources to ensure your refit project is planned and completed efficiently, on time and within budget.

Supporting Your Yachting Operation

Yacht Sales

Whatever your reasons, we will guide you in the most effective strategy to sell your yacht.

Yacht Charter Management

Your Yacht. Our Expertise. One Powerful Brand.

Build & Refit

Expert support from concept to delivery and beyond.

Yacht Management FAQs

What is yacht management?

Our world-class yacht management services combine our unique expertise and leading technology to ensure every experience is seamless. With knowledge in all areas, you can rely on our specialist crew to support your entire yachting operation – from sales and charter to build and refit.

What is included in yacht management?

Yacht management with Y.CO is what makes ownership effortless. Our team use tailor-made solutions to meet the individual needs of each client. Take advantage of our long list of management services, including financial processes, safety and security systems, crew operations, insurance, and logistics.

How much does yacht management cost?

Buying a yacht is a significant investment and excellent management is required. The cost of our management services depends on several factors, including the size and overall condition of your yacht, the length of agreement, and the types of services you'd like included.

How do I discuss yacht management with Y.CO?

Receive exclusive access to a community of global experts when you choose Y.CO yacht management services. Our tailored approach gives you unparalleled support in all areas. To discuss your options further, speak to our friendly experts who will be more than happy to help.

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Homepage | Management Services

Yacht Management Services

Covering every detail of yacht ownership for one harmonious experience

“Where Expertise Meets Excellence.”

PHOENIX provides an exceptional yacht management service. Our full-service offering means we take care of every aspect of day-to-day yacht operations. We cover operational and technical expertise, crew management, financial management, insurance, regulatory compliance (including ISM, ISPS and MLC conventions).

Our management approach is unique – it allows full oversight and overall responsibility for all onboard decisions. We limit the number of vessels that each manager supervises. This leads to a deep understanding of your vessel and your individual requirements. Requests are actioned promptly and seamlessly in expert hands.

Your PHOENIX management team ensures the running of the vessel is automated and monitored, this enables our industry leading crew to focus on your Onboard Experience – the ultimate goal of yacht management.

Our management approach is unique – it allows full oversight and overall responsibility for all onboard decisions. We limit the number of vessels that each manager takes care of, this leads to a deep understanding of your vessel and your individual requirements. Requests are actioned promptly and seamlessly in expert hands.

OPERATIONAL MANAGEMENT

Technical, practical and logistics with 24/7 access to your Yacht’s Manager.

TECHNICAL MANAGEMENT

The certainty of your yacht in perfect working condition. Safe, secure and maintained.

INTERIOR MANAGEMENT

Attention to detail is everything. Expect luxury touches, exquisite style and faultless delivery.

FINANCIAL MANAGEMENT

Expertly managed budgets are made refreshingly effortless; evidenced by regular running cost reports.

CREW MANAGEMENT

Because an exceptional yacht deserves an exceptional crew. Expect five-star service delivery.

CHARTER MANAGEMENT

The perfect charter, born of the smoothest operation, expert knowledge and impeccable service.

CLIENT & SUPPORT COORDINATION

A bespoke approach, expect gold-standard care for you and your most valuable asset.

TOYS & TENDERS MANAGEMENT

Calling all thrill seekers. Expect state-of-the-art toys at unbelievable speeds in the utmost of safety.

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Yacht Management

Serving South Florida including Dania Beach, Fort Lauderdale, Fort Pierce, Key Largo, West Palm Beach, FL, and the Surrounding Areas

For decades, our team at Starboard Yacht Group has served Florida's yachting community as a leading provider of yacht maintenance and management services throughout Dania Beach, Fort Lauderdale, Fort Pierce, Key Largo, West Palm Beach, and the surrounding areas. We offer custom yacht management programs designed to meet the unique needs of each owner and vessel. We strive to make owning your yacht easy and enjoyable!

You bought your yacht so that you can get away from it all - don’t get burdened by all the maintenance that comes with it. Instead, trust our yacht management company to keep your vessel maintained and ready to go so you can focus on getting back on the water.

Beyond the horizon of ordinary yacht management. Contact us today to get started.

Keeping Your Yacht Maintained is an Important Job

• Hull sealing
• Electrical system servicing
• Fuel system maintenance and filter replacements
• Surveys and inspections
• Engine, drivetrain, and generator servicing
• Stabilization system maintenance
• Air conditioning servicing
• Bottom painting

More enjoying. Less worrying

Leave the details to us.

Seamless Sailing

Navigating our yacht and boat management services.

Explore the seas with LiveBlue, where every voyage becomes a masterpiece of seamless and sensational experiences with Yacht and Boat Managment Services

Anchoring Deals, Launching Dreams

Steering your buying and selling journey.

We ensure smooth sailing for both buyers and sellers in the vibrant market of new and pre-owned boats and yachts.

Exclusive Charter Experiences

Embark on a journey of luxury and adventure.

Create everlasting memories with Exclusive Charter Experiences, where each voyage transforms and enriches your spirit forever.

Charting the Course to Impeccable Care

With our concierge services.

Ensure your yacht and boat are always voyage-ready with our meticulous maintenance and repair services, tailored just for you.

Boundless Blue Journeys

Sail the seas with expertise and grace.

Dive into an exquisite ocean adventure with our skilled yacht and boat captains, ensuring your maritime escapades are safe, splendid, and memorable.

LivBlue: Your Compass to Effortless Yacht And Boat Management

Your Voyage, Elevated

Effortless management, tailored by livblue for your ease.

At LivBlue, we understand that your yacht is more than a vessel – it’s a statement of your lifestyle and a sanctuary that deserves meticulous attention and adept management. Our comprehensive suite of management services is crafted to ensure that your vessel is always in its prime, ready to take you on your next oceanic adventure with utmost perfection and ease.

SAFE, SECURE, STRESS FREE BOATING

 livblue – your guardian on the waves our 24/7/365 boat monitoring system ensures your peace of mind, keeping a vigilant eye on your vessel whether you’re onboard or ashore. , your nautical dreams, realized with livblue yacht and boat sales, crafting seamless journeys in boat buying and selling, charting your course to nautical ownership.

Your maritime dreams set our course. We understand that buying or selling a boat is not just a transaction – it’s a milestone. Whether you’re casting off into new adventures with your very own vessel or passing the helm to the next captain, we’re here to ensure your journey is smooth and rewarding. Our dedicated team prioritizes your aspirations, providing a transparent, secure, and personalized experience in every boat and yacht transaction. With LivBlue, you’re not just navigating the waters; you’re steering towards new horizons with a trusted crew by your side.

Breakdowns Don’t Wait, Why Should You?

When your boat decides to take an unexpected pause, livblue ensures your adventures don’t have to connect, 24/7/365, instantaneously with our experienced mechanics via our on-demand video helpline or a swift phone call, ensuring you’re never left adrift., livblue your premier choice for exquisite yacht and boat charters.

Sail Beyond the Ordinary, Where Every Horizon Promises a New Memory

Voyage into elegance: your gateway to unparalleled nautical luxuries.

Navigate with us into a world where every wave tells a story, every breeze brings new experiences, and every sunset is a spectacle of your exclusive journey.

Whether it’s exploring hidden aquatic paradises, savoring gourmet delights mid-ocean, or celebrating life’s milestones amidst the serene embrace of the sea, we ensure that every moment spent with us is not just lived but cherished in a sanctuary of unparalleled luxury and heartfelt hospitality.

Experience Unparalleled Command with Advanced Yacht Management Software

Our innovative software effortlessly harmonizes every element of yacht oversight, presenting an elegant solution that blends state-of-the-art technology with an intuitive user interface. tailored for owners, captains, and crew desiring only the best for their vessel, livblue simplifies the complex, ensuring all aspects, from documentation to operations, are but a breeze, always ensuring you are the true captain of your journey., set sail with livbue - expert yacht and boat captains at your service, discover the ocean like never before with livbue’s exclusive nautical offerings, ensuring smooth sailing on every voyage with our professional maritime services.

As your premier provider of professional yacht and boat captains, we are dedicated to delivering an unparalleled maritime experience, ensuring every journey across the blue expanse is safe, secure, and spectacular. Our seasoned captains, with their vast maritime expertise, are here to navigate you through serene coasts and dynamic ocean currents, promising adventures that linger in your memories.

Premium Offers When You Sell Your Vessel with LivBlue

Navigating through the sale of your boat or yacht has never been this effortless at livblue, we elevate your selling experience by showcasing your vessel to a sea of eager buyers, ensuring it receives the premium offer it deserves. our expert team manages every anchor of the process, from listing to closing, ensuring your journey with us is smooth and rewarding. cast away the stress of selling and let livblue steer you towards successful and lucrative horizons., livblue and seas the day with unparalleled boat care.

Ensuring Your Vessel is Always Clean and Voyage-Ready

Anchor in assurance: expert cleaning and maintenance for your vessel's uninterrupted journeys.

Imagine a boat that’s always ready to cruise, thanks to our meticulous cleanings. Dive into a boating experience where every detail is polished to perfection, from the interior spaces to the exterior surfaces. Our team doesn’t just clean; we enhance and protect with top-tier ceramic coatings, compounding, and waxing, ensuring a gleaming finish and durable protection against the harsh Florida elements. From the rich warmth of expertly cleaned teak to the assurance of full-scale restorations, we stand guard over your boat’s condition, ensuring smooth and splendid voyages ahead. Your journey, unburdened by maintenance concerns, begins with us!

Unlock Nautical Excellence with LivBlue Resources

Embark on a journey of knowledge and expertise with livblue, your beacon in the vast seas of yacht and boat management. dive into our rich reservoir of resources, featuring enlightening blogs, expert-led training, and one-on-one consulting, designed to elevate your maritime experiences. our seasoned experts are dedicated to sharing the wealth of their wisdom, guiding you through every wave and whisper of the ocean. navigate, learn, and conquer the seas with resources that empower your voyages. livblue – steering you towards informed and inspired sailing, additional concierge services.

Boat and Yacht Deliveries

Safeguarding your vessel's journey by land or by sea with experienced crew and strategic route planning for secure and timely yacht deliveries.

Training and New Vessel Orientations

Empowering owners and crew with comprehensive training and orientations, ensuring confident navigation and operation of new vessels.

Maintenance, Repairs, and Service

Guaranteeing your yacht’s prime condition and performance through meticulous, regular maintenance, and expert repair services.

Electronics and Sound Repairs and Upgrades

Experience seamless navigation with our advanced marine electronics, stay abreast of technological advancements with expert electronic upgrades, and immerse yourself in unparalleled audio experiences with our premium stereo systems.

Administrative and Financial Management

Navigate with ease as we streamline your yacht’s operations and financials, providing expert handling of documentation, legalities, transparent budgeting, and cost optimization, ensuring a smooth and financially sound sailing experience.

Crew Placement and Mangement

Ensuring your vessel is in expert hands with our meticulous crew management services, which include hiring, training, and overseeing skilled professionals dedicated to providing a safe, smooth, and superior onboard experience for every voyage.

Popular Boats

Livblue charters, bradventures.

From $1,950

8 Passengers

10 passenger, piano piano, 6 passenger, create timeless memories at sea with livbue captains, choose livbue and immerse yourself in moments that matter. our expert captains take the helm, ensuring you can relish every second with your loved ones, exploring serene waters safely and creating unforgettable memories amidst the ocean’s embrace. with livbue, your safety is our priority, your time is treasured, and your memories are crafted to perfection..

Servicing all of SWFL

• [email protected]
• Call or Text: (239) 734-(BLUE) 2583
• Yacht Sales: (239) 397-(Blue) 2583
• Charters: (239) 427-(Blue) 2583

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ENLIGHTENMENT | COURAGE | INNOVATION

Wright maritime prioritises its influence on the environment, disaster relief and crew welfare, established in 1993, wright maritime group was founded on a principal of enlightened capitalism.   what does enlightened capitalism mean to wmg wmg leadership believes that the firm will be successful in its business of doing the best for its clients and the industry while also doing good for employees, communities and the environment. wright maritime group is a leading service provider in new yacht construction and large yacht management. while serving wmg clients, wright maritime prioritises its influence on the environment, disaster relief and crew welfare.  wmg’s relationships with flag-states, classification societies and port-states, enhances wmg’s ability to build and manage our fleet to the highest and most appropriate standards..