CharterWave eNews

Editor's Report from the Newport Charter Show
A good number of reputable brokers at last month's industry-only charter yacht show in Newport, Rhode Island, reported that—after a dismal lack of inquiries from January through April—their phones are starting to ring again.
    However, optimism was at most cautious that the worldwide charter market is rebounding. Brokers say that many longtime clients are booking shorter and less-expensive charters than in years past, and that a lot of calls are coming from people who are investigating possible deals as opposed to seriously shopping for charter vacations.
    “It has become exceptionally difficult to get a signed contract for a charter,” one longtime manager of a major charter fleet told CharterWave’s editor. “A lot of people call and say they want the best deal possible, but even after we get the yacht owner to commit to a deep discount, the charter client walks away. These people are shopping, not booking.”
    One longtime broker said the best she can hope for right now is that the current deals being accepted will translate into better business in the future.
    “Some of my clients are getting aboard larger and better-quality charter yachts than they have been able to afford in years past, thanks to the deals and discounts that are available right now,” the broker said. “Eventually, those charter rates will go back up, so I’m hoping the clients will want to stick with the better boats in the years to come.”
    Availability remains high for charter yachts in New England, which is unusual this late in the summer season—a similar phenomenon to what we reported in June’s CharterWave eNews about the summer markets in Europe and the Virgin Islands. The availability is evident even aboard yachts whose chefs took home top honors at the Newport show: Patrick Roney of the 115-foot Crescent motoryacht Kapalua (best overall) and Merrilie Insch of the 88-foot Broward motoryacht Essence (best chowder).
    

New Med Discounts, Market Assessment
If you have been following the CharterWave Daily Editor’s Blog, then you know yachts in New England are not the only ones trying to drum up last-minute charters this summer. We continue to receive an unusually large number of announcements about rate discounts and bonus-day offers, even aboard large motoryachts in prime destinations.

    Most recently, three top-quality, amenity-packed motoryachts in the International Yacht Collection fleet—including the brand-new, 141-foot Trinity Big City—dropped their rates by 20 percent in the Western Mediterranean. Just a few days later, several motoryachts in the popular Greek charter market dropped their rates by as much as 40 percent.

    As those discounts were being announced, Fraser Yachts Worldwide reported that first-quarter bookings for summer yacht charters were “way below” previous years, pushing yacht owners to agree to discounts as steep as 30 percent off listed weekly base rates. However, Fraser says a market recovery is in the works in the 150-foot-and-larger size range: “Now, with a late flurry of enquiries, owners are being more selective. They’re only agreeing to deals near on the published rates and accepting charter itineraries that fit with their own usage of the yacht.” In general, though, according to Fraser, charter yachts in the 80- to 100-foot range are still widely available for summer bookings.

Saxon: Worst Charter Slump Since New York Terror Attacks
Charter industry veteran Bob Saxon, at a meeting of the American Yacht Charter Association during last month’s Newport charter show, said, “The past 18 months are the greatest slump that the charter industry has seen since 9/11. During 9/11, the charter market was down 50 percent. It may be down that much now.”
    Saxon, who owned Bob Saxon & Associates before selling the agency and joining Camper & Nicholsons International, also said nobody knows for sure how the market will turn out after the global recession ends. Current discounts could become a permanent market correction, for instance.
    “I can warn you right now that our market—and I hope you take this warning seriously—is in a state of flux unlike any we have seen,” he told AYCA members. “We don’t know how this is going to reshape itself.”

Exclusive: Charter Contracts and Your Ultimate Liability
A simple math test:
    You cause $200,000 worth of damage to your chartered yacht. The yacht owner’s insurance policy deductible is $25,000. What is your total financial exposure?
    Several charter brokers, when asked this question at last month’s American Yacht Charter Association meeting in Newport, Rhode Island, answered $25,000. Others answered zero. Still others said $200,000.
    Those last brokers are right, says Gary Carroll of Comprehensive Yacht Assurance, a Florida-based insurance agency that handles charter yacht policies regularly. His presentation from the AYCA meeting is the basis for this newly posted article about charter liability. It includes questions you should ask—and details you should demand—before signing your next charter vacation contract.

Broker Report: Galapagos and Marquesas Islands
Broker Kathleen Mullen of Regency Yacht Vacations, one of our sponsors here on CharterWave, recently returned from a 3,000-mile (wow!) sailing adventure that included the Galapagos and Marquesas Islands. The two destinations, while exotic and memorable, typically are not visited by reputable charter brokers because few charter yachts tend to be available for bookings.

    Mullen explains what the remote areas have to offer for charter in this exclusive interview, which is based on her recent travels.

New Vidcast: Chartering in Turkey
Many charter brokers say Turkey’s traditional motorsailers, called gulets, are currently among the world’s best values for yacht charter vacations. Our editor, who has cruised in Turkey several times (most recently in May, thanks to expert arrangements by Northrop & Johnson Worldwide Yacht Charters), offers this narrated look at what you can expect to see, eat, and do during a yacht charter vacation in Turkey:

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CharterWave Team Launches Sister Website
The CharterWave team has just launched BrokerageBoss, a sister website dedicated to the brokerage yacht sales industry.
    “Recently, I have been receiving a good number of requests from yacht sales brokers who say there is a need for an editorial website of CharterWave’s caliber on the sales side of the industry,” says CharterWave Editor Kim Kavin. “BrokerageBoss is designed to fill that void with news about brokerage yachts for sale, interviews with sales brokers, and more. Just like CharterWave, BrokerageBoss will feature content of interest to potential clients as opposed to industry insiders.”

Three Brokers Say: What’s the Best Way to Choose a Charter Broker?
Countless charter brokers can help you book a private yacht vacation, but it can sometimes be difficult to tell which brokers are professional, knowledgeable, and right for your needs.
    In the July edition of "Three Brokers Say,” brokers Ed Hamilton of Ed Hamilton & Co., Beverly Parsons of Interpac Yachts, and Janet Bloomfield of International Yacht Charter Group offer their advice for questions you should ask and services you should expect.

Best of the CharterWave Daily Editor’s Blog
Victorian Rose a Stunner at Newport. These, my friends, are scarfing joints with rounded nibs pointing into a king plank. Okay, okay, you've got me: I didn't know what any of those words meant until I was standing over this part of the teak decking on the bow of the 63-foot Victorian Rose, listening to the owner tell me how he, his 85-year-old father, and the motoryacht's mate spent the past eight years rebuilding the 1963 Burger by hand. … Read more …

Best of the CharterWave Sponsored Blogs
From the Paradise Yacht Charters blog: La Dolce Vita Honeymoon. I recently booked a honeymoon couple aboard the 80-foot Lazarra motoryacht La Dolce Vita.  I think this letter from my client says it all. … Read more …  

Motoryacht of the Month: Bibich
The 94-foot motoryacht Bibich is a rare, female-owned charter yacht. Perhaps that accounts for the mist-green hull that stands out among traditional white motoryachts—like an elegant gown on docks full of standard tuxedos.
    Our editor got aboard for this exclusive First Impression review, which includes original photographs of the yacht’s contemporary interior and comfortable sundeck.

Sailing Yacht of the Month: Schatz
CharterWave’s editor was treated to a traditional lunch this spring aboard the 100-foot Schatz in the boat's native Turkey, where the owner says he recently invested €330,000 to keep the gulet in top condition.
    That’s a rare level of upkeep in the Turkish charter market, one that we detail by line item in our exclusive First Impression review. (Hint: There’s far more than just a new satellite television system.)

Captain of the Month: Gerald Read
Before taking command of the modern, 99-foot sailing yacht Mrs. Seven, Capt. Gerald Read was the build engineer for the spectacular restoration of the classic, 151-foot sailing yacht Lulworth.
    Our exclusive interview with Read includes his thoughts about the differences between charter experience on both yachts, as well as his opinion about what makes Mrs. Seven such a great choice for Mediterranean yacht charters this summer.

Chef of the Month: Merrilie Insch
Chef Merrilie Insch of the 88-foot motoryacht Essence shocked the heavyweights in New England last month by winning the Newport charter show's chowder cook-off without any charter experience at all.
    We scored this exclusive interview with Insch the morning after her big victory was announced, as Essence was crawling with charter brokers eager to get a first look at this new-to-charter motoryacht.

Broker of the Month: Michael Sawyer
Michael Sawyer, who owns Infinity Yacht Charters (and is a proud sponsor here on CharterWave), is one of the world's best-informed brokers when it comes to yachts in Alaska and the Pacific Northwest. He’s one of the few brokers who are based in the region, and he spent many years working as a sailing yacht instructor there.
    Learn more about his background in this exclusive interview.

Fleet and Management Company News
37 South welcomes the 110-foot motoryacht Amnesia to the charter fleet. She takes eight guests with six crew and is available this summer in Southeast Asia… The 114-foot expedition motoryacht Codene is available throughout July in New Guinea, then from August through September in Vanuatu. She takes eight guests… The 115-foot McMullen & Wing motoryacht Surprise—a CharterWave favorite—is currently completing a refit, after which she will be available for charter in Indonesia…

Absolute Yachting announces discounts as deep as 40 percent for three motoryachts based this summer in Greece: the 100-foot Monte Carlo, the 128-foot CRN Monaco, and the 101-foot Falcon Obsession. Each is being offered at a weekly base rate €38,000 including breakfast for 10 guests. Original rates were as high as €63,000 with no extras included. The new rates are available for charters between August 20 and October 31… The 51-foot sailing catamaran Elvira is available for charter August 15-22 in Greece. She takes 10 guests with two or three crew…

Athens Yachts says that, because of a cancellation, the 108-foot Maiora motoryacht Ramina is available for charters immediately through July 28. The brand-new yacht takes eight or nine guests at a lowest weekly base rate of €80,500…

Blue Latitude Yachting tells us the 59-foot sailing yacht Emotion 2 is available until July 20, and then again after August 20, in the Maldives… The 59-foot sailing yacht Tahuata has availability in the Northern Caribbean in August… The 62-foot sailing yacht Motu is available after July 8 in the Northern Caribbean and British Virgin Islands… The 59-foot sailing yacht Sagaponack is available after September 1 in Sardinia and Corsica as well as along the Italian coastline… The 62-foot sailing yacht Moonstone is available after September 1 in Croatia and Greece’s Ionian Islands…

Burgess Yachts says the 123-foot Palmer Johnson motoryacht Muse is offering two incentives, with each representing about a 30-percent discount this summer in New England. The Gold Package gives you 10 days for the price of seven, or seven days for the price of five, with a lowest advertised weekly base rate of $91,000. The All-Inclusive Package gives you a seven-day charter at $95,000 for five to eight guests or $85,500 for two to four guests. Muse is also accepting inquiries for long-weekend charters…

Camper & Nicholsons International welcomes the brand-new, 190-foot Royal Huisman sailing yacht Ethereal to the charter fleet. Ethereal is being marketed as the “most efficient, most eco-friendly superyacht afloat.” She is available this summer in the Western Mediterranean at a lowest weekly base rate of €225,000 for 10 guests…

Cape4Yachting welcomes the 85-foot Posillipo motoryacht Vivilena to the charter fleet. She takes eight guests and is available this summer in Greece…

CharterPortBVI fleet yacht Viking Dream, a 46-foot sailing catamaran, has extended its current discount offers “until further notice.” The offers include eight nights for the price of seven in addition to a 20-percent broker commission that can be passed, in part, to clients… The 54-foot sailing catamaran Braveheart is offering a 10-percent discount on charters booked before September 1 and commencing after November 1 in the northern Caribbean. The yacht will stay there until February 2010, when it returns to its usual cruising grounds in the Virgin Islands…

Churchill Yacht Partners tells us the 107-foot Burger motoryacht Silver Seas is currently open for charters in Florida and the Bahamas at a lowest weekly base rate of $38,000 for eight guests… The 90-foot Stephens motoryacht Trilogy is currently available in the Great Lakes. Her weekly base rate is $29,500 for eight guests… The 63-foot restored, classic Burger motoryacht Victorian Rose is offering day charters in New England in addition to weekly charters. Base rates for four guests are $2,500 for one day, $4,500 for two days, and $13,000 per week…

CSO Yachts says 98-foot motoryacht Supertoy has wide availability this summer in the Western Mediterranean. She takes 10 guests with five crew at a lowest weekly base rate of €40,000… The 69-foot Sunseeker motoryacht Maevaflo also still has availability this summer in the Western Mediterranean. She takes eight guests with two crew at a lowest weekly base rate of €29,500, or a daily base rate of €4,900… The 86-foot Amer motoryacht Carrara has reduced her lowest weekly base rate from €38,500 to €34,000 for eight guests with four crew in the Western Mediterranean… The 99-foot Maiora motoryacht Lady Katana II is available in the South of France without delivery fees, or along the coast of Spain, at a lowest weekly base rate of €39,000 for eight guests with four crew…

C U Yacht Charters says the 72-foot Viking motoryacht Quite Enough is available this summer in New England at a lowest weekly base rate of $16,500 for six guests with two or three crew. Single-day and half-day charter rates are also available… The 90-foot Christensen motoryacht Yianoula is offering a special weekly base rate of $16,000 for eight guests with three crew in Florida or the Bahamas if you book before August 1…

Dahm International says the 98-foot Benetti motoryacht Nanou, whose lowest weekly base rate is typically €60,000, is offering a rate of €40,000 for a Croatia charter from Kotor to Split from August 10-16. Nanou takes eight guests with six crew…

Fraser Yachts Worldwide welcomes no fewer than a dozen motoryachts offering charters in the Mediterranean, Pacific Northwest, Florida, the Bahamas, and New England: the 262-foot Oceanco Amevi, the 172-foot Mie Big Eagle, the 164-foot Feadship Inevitable, the 163-foot Oceanco Anedigmi, the 150-foot Brodogradiliste Istranka, the 143-foot Benetti Harmony II, the 130-foot Sojourn, the 124-foot Delta Aerie, the 109-foot Hargrave La Dolce Vita, the 106-foot Lazzara Bella Contessa, the 100-foot San Lorenzo African Queen K, and the 83-foot Ferretti Tittidea… Seven motoryachts in the Fraser fleet have reduced their weekly base rates: the 193-foot Seawolf, the 160-foot Delta Newvida, the  131-foot Hakvoort Solaia, the 130-foot Christensen Lady Zelda, the 124-foot Siar Moschini Indigo Star, the 119-foot Crescent Impetuous, and the 106-foot Horizon Maximus II…

Hargrave Yacht Charters welcomes the brand-new, 114-foot motoryacht Sea Legend to the fleet. Based this summer in New England, she takes up to nine guests at a weekly base rate of $45,000. Amenities include zero-speed stabilizers, a gymnasium with treadmill and free weights, and a 20-foot jet tender…

International Yacht Collection announces 20-percent discounts for three motoryachts in its fleet: the 141-foot Trinity Big City, the 147-foot Izar Tuscan Sun, and the 161-foot Trinity Lohengrin. Big City and Lohengrin are in the Mediterranean, while Tuscan Sun is in the Bahamas. Each yacht takes 10 to 12 guests… The 177-foot Trinity motoryacht Katharine just completed a two-year, $6 million refit and is now available for charter in the Western Mediterranean. She takes 12 guests at a lowest weekly base rate of $295,000…

Merle Wood & Associates welcomes two yachts to the charter fleet: the 174-foot Baglietto Gitana and the 101-foot Cantieri Gitan…

Neptune Group Yachting welcomes the 112-foot Westport motoryacht Storm Chaser to the fleet. The yacht takes eight guests and will be available year-round in the Bahamas at a weekly base rate of $39,500… The 112-foot Westport motoryacht New Moon II is still offering a discounted weekly base rate of $37,500 (regularly $42,500) for charters booked before August 31. New Moon II takes eight guests and is currently in New England…The 103-foot Broward motoryacht Trilogy is offering a discounted weekly base rate of $29,500 (regularly $33,000) for charters booked before August 31. Trilogy takes six guests and is available this summer in Florida, the Bahamas, and New England… New to the fleet is the 102-foot Palmer Johnson motoryacht Banyan, which takes six guests and is currently in New England. Introductory  base rates are $29,500 per week through July 31, $33,000 per week from Aug. 1 through Sept. 30, and $36,000 per week Oct. 1-31…

Nicholson Yachts welcomes the 86-foot Nordhavn motoryacht CaryAli to the fleet. The 2007 build takes six to eight guests at a lowest weekly base rate of €48,000. CaryAli is currently in the Western Mediterranean… The 53-foot sailing yacht Ashlana is offering a $500 discount on charters booked before July 15. Weekly base rates are $10,500 for two guests, or $12,000 for four guests. Ashlana is currently in New England…The 60-foot sailing yacht Blue Whale is offering an introductory weekly base rate of $7,000 for captain-only charters, or $9,000 for captain-and-chef charters, for five guests. Blue Whale is in New England this summer… The 38-foot Little Harbor WhisperJet motoryacht Patriot is offering bed-and-breakfast-style weekend charters at a base rate of $3,200 for two guests in New England… The 90-foot Doggersbank motoryacht Tivoli continues to offer a reduced weekly base rate of $29,500 (previously $35,000) for charters this summer in New England, as well as options for day charters. Tivoli takes six guests… The 72-foot sailing yacht Fearless is offering eight days for the price of seven this summer in New England. Her weekly base rates are $19,500 for two guests, $20,500 for four, and $21,500 for six… The 72-foot sailing yacht Pacific Wave recently passed its annual MCA inspection and continues to be available for charter in the Caribbean, from the unusual base of St. Lucia…

Northrop & Johnson tells us the 130-foot Westport motoryacht Arioso is en route to New England and will be available for charters the rest of the summer at a lowest weekly base rate of $95,000. She takes 10 guests… New to the fleet is the 165-foot Oceanfast motoryacht Mystique, taking 10 to 12 guests. The yacht’s rate has been reduced by 15 percent from previous promotions, making her available now at a lowest weekly base rate of $120,000. A 48-foot Merritt sportfishing yacht is available for tandem charters with Mystique, at additional expense… Also new to the fleet is the 143-foot expedition-style motoryacht Devotion, taking 12 guests with eight crew this summer in Alaska… The 161-foot Trinity motoryacht Destination Fox Harb’r Too is offering a voucher package to the Fox Harb’r Resort golf and spa facility for clients booking weeklong charters this summer in Nova Scotia. The yacht takes 11 guests with 10 crew at a lowest weekly base rate of $230,000… The 122-foot Flagship motoryacht Shogun continues to offer nine nights for the price of seven this summer in the Pacific Northwest. She takes eight guests with five crew at a lowest weekly base rate of $69,000… The 115-foot Trinity motoryacht Watercolours has reduced her weekly base rate from $49,500 to $42,000 for eight guests with four crew this summer in the Bahamas as well as this winter in the Virgin Islands…

Northrop & Johnson Worldwide Yacht Charters announces that the historic, 128-foot-long Nantucket Lightship is now available for charters in New England. She takes 10 guests with five crew at a lowest weekly base rate of $49,000. Here’s a vidcast tour of the Lightship:

Ocean Independence says its Ocean Management division is now certified for commercial passenger ships, including the 297-foot mini-cruise ship Sunrise, which the company brokered for sale. "Undoubtedly, Sunrise opens other possibilities for our team for future management of megayachts with passenger vessel level of safety and operational standards, and even commercial passenger vessels,” the company said in a statement. We’re watching for additions to the charter fleet that take more than the typical 12 guests allowed by international private yacht laws…

Ocean Partners International welcomes two yachts to the fleet in Turkey. The 111-foot Cheoy Lee motoryacht Ma Biche takes eight to 10 guests at a lowest weekly base rate of €20,000, while the 78-foot motorsailer Dragonfly II takes six guests at a lowest weekly base rate of €18,000. Worth noting is that Ma Biche, a 1991 build, underwent a refit in 2006, and that Dragonfly II, a 2009 launch, has a health massage cabin and masseuse onboard…

Primo Yacht welcomes the 257-foot, restored 1921 S.S. Delphine to the charter fleet. Originally built for American automobile magnate Horace Dodge, Delphine was restored in 2003 with an eye toward re-entering the charter market. She is currently available in the Western Mediterranean, taking 26 guests with 24 crew at a lowest weekly base rate of €245,000… Also new to the fleet are the 130-foot Mangusta motoryacht African Cat, taking up to 12 guests with seven crew in the Mediterranean this summer at a lowest weekly base rate of €150,000; the 74-foot Ferretti motoryacht Debra One, taking eight guests with two crew in the Mediterranean this summer at a lowest weekly base rate of €25,000; and the 98-foot Ferretti motoryacht Maria II of London, taking eight guests at a lowest weekly base rate of €60,000… The 145-foot Proteskan motoryacht Costa Magna is offering nine days for the price of seven in July and August. The lowest weekly base rate is €90,000 in the Western Mediterranean… The 86-foot Falcon motoryacht Antalex is available after July 22 in Corsica and Sardinia with no delivery fees… The 107-foot Mangusta motoryacht Bellissima C just completed an interior refit and has reduced her lowest weekly base rate from €77,000 to €60,000 for eight guests with four crew in Italy…

Robert J. Cury and Associates says 147-foot motoryacht Aquasition is seeking charters this summer in New England. The regular weekly base rate is $127,000 for 10 guests with eight crew, a price the company lists with the caveat “looking for charters… call with inquiries" ...

Sail Connections tells us the 50-foot sailing catamaran Ombre Blu still has availability for August and September charters in Sicily, Sardinia, the Aeolian Islands, and Italy’s Amalfi Coast. Base rates for two to six guests range from €8,800 to €15,500 depending on your charter dates…

Seascape Yachts says the 100-foot motoryacht Albacore II still has availability this summer in Greece and the greater Eastern Mediterranean. She takes 10 to 12 guests with five crew at a lowest weekly base rate of €56,000… The 108-foot motoryacht Pollux also still has availability in the Eastern Mediterranean this summer. She takes eight to 10 guests with six crew at a lowest weekly base rate of €65,800… New to the fleet is the 90-foot motoryacht Buzz, available this summer in Turkey and the Eastern Mediterranean at a lowest weekly base rate of €45,000 for eight or nine guests with five crew…

Sunreef Yachts Charter welcomes the 70-foot powercatamaran Sea Bass to the fleet. She takes eight guests with two crew and is available this summer in the Mediterranean at a lowest weekly base rate of €45,000… The 70-foot sailing catamaran Seazen II is available for charters August 3-10 in Corsica and Sardinia, and August 31-September 7 in the South of France…

Sunseeker Charters says the 84-foot Predator motoryacht UM6 has availability through September out of Cannes, France. The new build is being marketed as the “highest-specification Sunseeker Predator” ever built, with features including zero-speed stabilizers, twin 2,400-horsepower MTU engines, and a top speed of 38 knots. UM6 takes eight guests at a lowest weekly base rate of £40,000…Also still available this summer are the 82-foot motoryacht Alani in Australia’s Whitsunday Islands and the 60-foot motoryacht Nero in the Red Sea…

The Moorings has opened a new base in Phuket, Thailand. The local fleet will include sailing and power catamarans from 37 to 47 feet long, with all-inclusive charters available aboard yachts with captains and chefs. One-way charters from Phuket to Langkawi, Malaysia, will be available for an additional fee...

Voyage Charters says kids younger than nine cruise for free on sailing charters completed before December 18. Children ages 10 to 14 cruise at 50 percent of listed rates…The company is also offering 15-percent discounts and 10-nights-for-the-price-of-seven deals on many of its sailing catamarans…

New First Impression Reviews Posted on CharterWave This Month
Bibich, 94-foot motoryacht
Dulcinea, 63-foot sailing yacht
Essence, 88-foot motoryacht
Familia, 86-foot motoryacht
Monaliza, 140-foot motoryacht
Mrs. Seven, 99-foot sailing yacht
Nahema IV, 72-foot sailing catamaran
Rosehearty, 183-foot sailing yacht
Schatz, 100-foot gulet
Seazen II, 70-foot sailing catamaran
Venture, 63-foot sailing yacht

New Crew Interviews Posted on CharterWave This Month
Merrilie Insch, chef, 88-foot motoryacht Essence
Gerald Read, captain, 99-foot sailing yacht Mrs. Seven

New Broker Interview Posted on CharterWave This Month
Michael Sawyer, owner, Infinity Yacht Charters

New “10 Best” Lists Posted on CharterWave This Month
10 Best Reasons to Book Christmas and New Year’s Charters Now
10 Best Charter Yachts for Luxurious Dining
10 Best Charter Yachts for Enjoying Great Views
10 Best Deals Still Available for Summer Charter Bookings