Editor’s Note: Charter broker Kathleen Mullen of Regency Yacht Vacations (a CharterWave sponsor) attended the September 2008 Monaco Yacht Show. Mullen shared her thoughts about the show and the current state of the charter industry with CharterWave editor Kim Kavin. Excerpts appear below.

Photos are copyright Eric Knoll and Pierre Pettavino.

How does the Monaco Yacht Show differ from charter-specific boat shows?
The show is heavily geared toward yachts that are for sale, so the focus is all about the boat itself. The crews are not doing lunches, promoting the chefs, none of that.
     Having said that, there are probably 110 boats on the docks, and maybe 50 more anchored off the dock, and of those probably a third are available for charter. They tend to be the large boats. At the low end, the boats at this show are at least 30,000 euro a week plus expenses. Some are 600,000 euro a week, and many will be transiting to the Caribbean this winter. Some are new launches, so it’s the first chance to see them.

Do many charter brokers attend the Monaco show?
It’s mostly sales brokers, as opposed to charter brokers, but some charter brokers do attend. I was there for my partner company Northrop and Johnson, and I saw people from The Sacks Group Yachting Professionals and International Yacht Collection. We were there because we work in the top end of the market. Monaco is not the show for brokers who book medium-range charter boats.

How was the talk on the docks, given the current worldwide economic problems?
There is a definite softening in the sales market, but it’s so global that it has attracted buyers who are looking for great values. There are still people buying, but they’re trying to buy smart. They’re happy that the market has slowed down a little bit because it gives them a negotiating edge.
     My feeling is that on the upper-end boats, we do have people who might have postponed a purchase and are going to charter instead. The economic problems are ironically helping some of the upper-end charter boats.

So, anyone wanting to charter a high-end boat this winter should book soon?
The clients who are familiar with charter are still trying to plan well in advance. They know they can’t wait until the last minute to get the best options. Particularly for desirable dates and locations, you should really make your plans early.
     It’s one thing to look for a charter for six people at the last minute, but if you have 10 or 12 in your party and have a set of parameters that are important, you still need to book early.

Which charter yachts caught your eye?
I loved the brand-new 146-foot Feadship motoryacht Harle. That boat wasn’t only gorgeous; it also had a lot of nice Caribbean-style comforts. When you move deeper into the interior, there are some formal areas where you can be dressy and polished, but the aft deck and open spaces were almost Ralph Lauren beach house, with teak floors and grass mats and leather sofas. It’s totally different styling than Feadship has ever done, specific to what this owner requested.
     Another motoryacht that caught my eye was the 230-foot Martha Ann, the new Lurssen. It is the definition of ornate. Triple-layer curtains, every luxury you could want, amazing marbles and stones. I think it will do well as a charter yacht. There are people who love that sense of formality and luxury, and they don’t like the modern styling on so many other yachts. They feel pampered and comforted by the Old World, traditional feeling. Plus, she’s 230 feet for just 12 guests. That’s a great deal of space.
     The 142-foot Palmer Johnson motoryacht Pure Bliss also looked good and was ready for an active charter season. They did moderately well over the summer, with about six weeks of charter, and are heading to the Caribbean soon.

Did you notice any trends that will affect the Caribbean charter season this winter?
One of the surprising things was that there were more sailing boats than in previous years. There were a number of Perini Navis, Alloys, a Dubois design, some really exquisite boats, many of them quite large. So I think there will be more sailboat options in the Caribbean this winter, at the upper end of the market, than there have been in the past.

If you have additional questions, you can contact Kathleen Mullen at Regency Yacht Vacations.