Report from the May 2008 Charter Show on Poros, Greece, with broker Missy Johnston of Northrop & Johnson Worldwide Yacht Charters

Missy Johnston of Northrop & Johnson Worldwide Yacht Charters has been a charter broker for 20 years. She has attended the industry-only charter yacht show in Greece all but one year since the original show in 2000, watching the local fleet grow in quality of maintenance, cleanliness, manufacturer, and crew service, with larger yachts coming in every year.
      Here are her thoughts from the May 2008 show held on Poros island, exclusively for CharterWave readers:

About how many boats and brokers attended this year’s charter show in Greece?
The show was larger than it has been. Each year it gets larger. It was 60 or 70 boats this year, but with fewer non-Greek brokers—especially American brokers, likely because of the euro-dollar exchange rate. Overall, there were 60 brokers registered, but in reality, it felt as though probably about 35 or 40 attended.

How did this year’s show compare with the shows of years past?
For the first time, the show organizers allowed yachts smaller than 65 feet long to participate. So that accounts for the show getting larger, even though there were still the same number of larger yachts as have been there in years past.
      It was actually a good thing, because the international brokers got to see how the Greek charter market is growing in all size ranges. For the first time, there was a sailing catamaran for charter in Greece, with four staterooms for eight guests. She presented quite well. That was a pleasure to see.
     Also, the motoryachts are getting bigger. There will be several delivered this winter to Greece above 150 feet. They will be brand-new and of top quality, adding to the options for clients at that end of the price spectrum.
     There also has been a lack of yachts available in Greece, in my opinion, with top-deck hot tubs, and I saw more of them at this year’s show. That’s something you see on international yachts elsewhere, and it’s nice to see here as well.
 
Which yachts stood out to you?
I have always very much liked the 134-foot Ouranos Too, and that motoryacht showed very well again. Happy Dolphin II also showed well. It’s a 129-foot motoryacht that is new for charter in Greece this summer.  I also liked the new catamaran, Anassa, which is 62 feet long; a 110-foot motoryacht named Astir; and an 80-foot powerboat called Karyatis, which is actually owned by the captain onboard Ouranos Too. He had it completely refit for charter.
     All of these boats showed well, and their crew impressed me as well. They have to have both in order for me to offer them for a quality charter experience.

Does demand for charter in Greece still seem strong, given the strength of the euro?
Demand is still high, but not from Americans. The good-quality boats are still heavily booked, but they miss the American clients. They are concerned. They recognize that the issue is with the exchange rate and the weakness of the dollar, which they can’t control.
     Everyone is hoping the dollar strengthens next year, that it’s just a temporary thing.

Did you notice any trends in the Eastern Mediterranean market?
Several of the Greek boats are being booked to go to Croatia, and that’s something new. In addition, several of the Athens-based boats have been chartered to do the Dodecanese islands and part of Turkey.
     It used to be that if it was a Greek-flagged boat, it was an Athens-based charter. But they are going farther now, albeit with delivery fees—though a boat coming from Athens into Croatia will have a lower delivery fee than a boat based in the Western Mediterranean repositioning to Croatia, since it's a shorter distance for the yacht to travel.

What do you anticipate in the Greek charter market beyond this summer?
A good number of the better yachts are already booked for the summer of 2009. If you want to go to Greece next summer, you need to start the booking process now, for any size yacht.
     That’s especially true  of small to large modern sailing yachts. There are some very nice Greek motorsailers, but for clients who want performance sailing, there has always been a lack of Greek-flagged boats of that style. If you want a 60- to 120-foot performance sailing yacht, there are very few available. So with them, especially, it’s important to start planning a year in advance.
     This is different than in the Western Mediterranean, and it’s important for clients to know.

Did you learn anything else at this year’s show?
I had thought that all of the crew on Greek-flagged boats had to be Greek, but I learned at this show that it’s a percentage based on the size of the yacht. So we are now seeing a few Australians and other international crew working on Greek boats, generally in the steward and stewardess positions.
     This is good, as it could help further improve the Greek charter experience in keeping with evolving international standards.





You can learn more about broker Missy Johnston by reading our exclusive editorial interview here on CharterWave.