Mixed Reports on Global Economic Crisis, Charter Market Effects
As the U.S. stock market scrambled and international banks failed from American to European shores during the month of September, brokers gave mixed reports about how the global economic crisis is affecting the charter market.
Some brokers said that because a greater number of potential megayacht buyers seem to be holding off on their purchases, the Caribbean charter season stands to gain additional clients, at least at the top end of the market. A few other brokers, though, said that even some of their longest-standing big-money clients were holding off on winter bookings until the stock market settles down. Those waiting still seem to be in the minority, at least at the top end of the crewed charter market.
At the lower end of the crewed charter market, broker concern continues to swell virtually unabated. Not only are brokers reporting fewer and fewer bookings of entry-level crewed yachts, but the cutbacks in airline flights to the Caribbean have caused even more increases in remaining airfares, thus adding to the financial tab for anyone still wanting to book a charter for the coming season.
The news that Delta Air Lines plans to add 13 weekly flights into St. Thomas beginning in December is easing some of those last concerns. Stay tuned.
Broker Kathleen Mullen: Report from Monaco
Charter broker Kathleen Mullen of Regency Yacht Vacations—a CharterWave sponsor—recently returned from September’s Monaco Yacht Show.
She generously gave this exclusive interview for CharterWave readers about the chatter on the docks, the best yachts she saw firsthand, and the indicators she sees from that show going into the Caribbean charter season.
Broker Beverly Parsons: Report from Croatia
Charter broker Beverly Parsons of Interpac Yachts recently returned from a cruise in eastern Italy, Montenegro, and Croatia. Like many brokers, she is seeing more and more requests for charters in the Eastern Mediterranean, and she wanted to visit the area firsthand to be sure she was offering clients accurate information.
She shared her thoughts about charter yachts in the region, as well as the industry’s future in that part of the world, in this exclusive interview for CharterWave readers.
Dubai Yachting Plans Continue to Develop
Luxury marina developer Island Global Yachting announced detailed plans in September about its development and management of Dubai’s first dedicated megayacht marina. It will be called the Palm Jumeirah Mega Yacht Marina, and will be on the west side of the palm’s trunk (see photo at right) next to Trump International Hotel and Tower. The marina is scheduled for completion in fall 2009.
The news about the completion date came on the same day that Dockwise Yacht Transport announced that its 687-foot transport ship Yacht Express has scheduled its first stop in Dubai for mid-March 2009, sending what company President Clemens van der Werf called a “strong message in support of Dubai and Abu Dhabi’s initiatives to develop the United Arab Emirates as an international yachting destination.” Yacht Express transports yachts from one cruising destination to another, so that they can save the wear and tear of cruising on their own hull bottoms across major distances.
Island Global Yachting is a company that focuses on megayacht marina development worldwide. Its new marina in Dubai will have 75 berths for yachts as big as 540 feet. That’s about twice the size of the world’s largest charter motoryachts right now.
10 Charter Yachts Named Among ISS Finalists
The International Superyacht Society announced the finalists for its 2008 International Design Awards in September. The awards highlight the best of the best in terms of exterior and interior design. For 2008, 10 of the finalists are charter yachts.
In the “best power” categories, the finalists include the 124-foot Hakvoort Perle Bleue, 112-foot Alloy VvS1, 194-foot Benetti Amnesia, 148-foot Feadship Harle, 190-foot Abeking & Rasmussen Lady Sheridan, 269-foot Oceanco Alfa Nero, 224-foot Lurssen Kismet, and 230-foot Lurssen Martha Ann.
In the “best sail” categories, the finalists include the 147-foot Perini Navi Helios and the 171-foot Alloy Red Dragon.
Winners will be announced in late October during the Fort Lauderdale International Boat Show.
Mendelsohn Affluent Survey: Cruising Still a Priority
The 2008 Mendelsohn Affluent Survey came out in September, offering a wealth of information about U.S. households earning more than $100,000 a year. About one in five respondents say they plan to go cruising in the next year.
According to the survey, 17 percent of those with household incomes above $100,000 have cruising in their upcoming plans. When the household income is at least $250,000, the percentage planning to cruise rises to 22 percent.
As many people in these income segments attended boat shows in the past year as attended sporting events and concerts, and sailing and powerboating were in the top five activities that respondents listed, beating out activities such as bicycling, walking, and jogging.
We’re Scouting for You in Fort Lauderdale, Antigua
CharterWave editor Kim Kavin will be hitting the docks this month, traveling to the Fort Lauderdale International Boat Show as well as to see the progress on the new Jumby Bay Marina project in Antigua.
Stay tuned to the CharterWave Daily Editor’s Blog for Kim’s reports straight from these yachting hotspots.
Best of the Editor’s Daily Blog
High Chaparral Owner Building Again: If you’re a fan of racehorses (or a fan of luxury charter yachts named after them), then you already know the names Thunder Gulch and High Chaparral. In yachting circles, the names represent top-notch motoryachts with exceptional crew, the kinds of operations that keep some of the biggest-name celebrities coming back to charter year after year. … Read more …
Best of the Sponsored Blogs
From the Northrop and Johnson Worldwide Yacht Charters Blog
Fam Trip on Silolona: Missy Johnston of Northrop and Johnson Yacht Charters just returned from a 10 day trip to Indonesia to cruise the Komodo Archipelago on Silolona. Silolona is a traditional Indonesian gaff rigged Phinisi, built new, with modern conveniences along the line of the traditional age old Phinisi trading vessel that has plied the waters of Indonesia for many years. … Read more …
Crewed Motoryacht of the Month: Sojourn
This 130-foot motoryacht is a custom design that has been chartering on the U.S. West Coast for several years, and is now headed from New England to the Caribbean for the winter 2008-09 season.
Our editor got onboard that the Newport Charter Yacht Show for a firsthand tour. Check out our exclusive First Impression review.
Crewed Sailing Yacht of the Month: Shamrock V
If you want to charter a classic yacht built to challenge for the America’s Cup during the golden age of sail, then Shamrock V is an excellent choice. She has been restored to stunning condition and is one of the only yachts of her vintage available for charter, anywhere in the world.
Our First Impression review details the yacht's history as well as her attributes for modern-day charters.
Captain of the Month: Martin Greatbanks
Running the 100-foot motoryacht Cristalex means more than just taking care of charter guests. For Capt. Martin Greatbanks, it also means doing everything up to the owners’ environmentally friendly demands, from taking on biodiesel to buying biodegradable cleaning products and organic sheets.
Read more about Greatbanks and his charter operation in our exclusive interview.
Chef of the Month: William Dobson
Being the personal chef for the prime minister of Trinidad and Tobago has been good training in Caribbean cooking for William Dobson. Now onboard the 130-foot motoryacht Arioso, he brings years of experience from Michelin-starred restaurants and high-end hotels to his galley.
Learn how Dobson got into the cooking business, and about other skills he brings to the charter industry, in our exclusive interview.
Brokers of the Month: Sandy and Tom Taylor
After many years spent working for some of the largest yachting companies in the world, husband-and-wife team Tom and Sandy Taylor recently moved to Natchez, Mississippi, to start their own, independent charter-booking agency.
Our exclusive interview focuses on the kinds of clients they're seeking, the kinds of yachts they like to book, and more.
Fleet and Management Company News
Absolute Yachting in Greece welcomes the 51-foot sailing catamaran Elvira to the fleet. She takes 10 guests with two or three crew and is available at a lowest weekly base rate of 11,000 euro…
Blue Latitude Yachting says that because of cancellations, the 62-foot sailing catamaran Motu is fully available in the Caribbean during the month of November…
Churchill Yacht Partners has six yachts with availability remaining for holiday charters. They are the 110-foot Broward motoryacht Kaleen, taking nine guests at a lowest weekly base rate of $35,000; the 107-foot Burger motoryacht Silver Seas, taking eight guests at a lowest weekly base rate of $38,000; the 95-foot classic motoryacht Zazu, taking six guests at a lowest weekly base rate of $29,500; the 90-foot custom motoryacht Trilogy, taking eight guests at a lowest weekly base rate of $29,500; the 88-foot Rayburn motoryacht Lady Victoria, taking eight guests at a lowest weekly base rate of $30,000; and the 154-foot Perini Navi sailing yacht Andromeda la Dea, taking eight guests at a lowest weekly base rate of $150,000…
Edmiston Yachts, in conjunction with Land Rover, announced that renowned yacht designer Andrew Winch has won a contest to design a “yacht-inspired Range Rover” vehicle. The design will be available for purchase by special order only…
International Yacht Collection welcomes the 124-foot Trinity Wheels to the fleet. She takes 10 guests and will be available in the Bahamas at a lowest weekly base rate of $80,000…
Liveras Yachts is offering discounts for charters aboard its 280-foot Alysia in the Red Sea and Indian Ocean. The weekly base rate for 36 guests is 595,000 euro; for 26 guests, 448,000 euro. Liveras also is offering discounts for its 295-foot Lauren L in the Caribbean. The weekly base rate for 40 guests is 595,000 euro; for 30 guests, 448,000 euro; and for 20 guests, 395,000 euro…
Neptune Group Yachting welcomes the 78-foot Hatteras motoryacht Temptation to the fleet. She takes six guests at a lowest weekly base rate of $19,500 and is based year-round in the Bahamas… Five motoryachts are available for charter in the Bahamas without repositioning fees: the 82-foot Horizon Adriana II, the 78-foot Hatteras Bella Sophia, the 70-foot Hatteras sportfisherman Hard Hatt, the 70-foot Azimut motoryacht Postobello, and the 70-foot Azimut Seas the Moment…
Nicholson Yachts says the 53-foot sailing yacht Ashlana is welcoming five-day as well as seven-day charter requests in the Caribbean this winter. The five-day base rate is $9,900 for two guests, or $10,900 for four guests, including everything but bar, dockage, taxes, and communications… the 72-foot sailing yacht Fearless has completed a refit in England and will arrive in the Caribbean by November 25 to begin chartering this winter… The 104-foot performance sailing yacht Kalikobass II is still available for winter charter event bookings including the Super Yacht Regatta in Antigua this December and the St. Bart’s Bucket scheduled for March…
Northop and Johnson welcomes the 161-foot Trinity motoryacht Destination Fox Harb’r Too to the fleet. She takes 10 to 12 guests at a lowest weekly base rate of $230,000 per week and will be available in the Caribbean this winter…
Ocean Independence welcomes three yachts to the fleet. The 131-foot motoryacht Superfun takes 10 guests at a lowest weekly base rate of 80,000 euro, the 81-foot sailing yacht Astro de l’Est takes eight guests at a lowest weekly base rate of 26,000 euro, and the 78-foot sailing yacht Melite takes eight guests at 25,000 euro…
Oceanstyle, a sister company to Burgess Yachts, has opened a new office in Florida’s Miami Beach Marina. It will be the company’s hub for the sale and charter of yachts from 65 to 130 feet long… The company also launched a new website…
Primo Yacht welcomes the newly launched, 95-foot Princess motoryacht Mimi La Sardine to the fleet. She takes eight guests with five crew at a lowest weekly base rate of 59,000 euro, and is based in the South of France…
Robert J. Cury and Associates says the 100-foot Hatteras motoryacht Triple Attraction is seeking charter inquiries as she heads south from Connecticut for the winter season. She takes eight guests at a lowest weekly base rate of $40,000…
The Sacks Group Yachting Professionals tells us that the 120-foot motoryacht Touch has completed a major refit that included new paint and varnish, a new hot tub, refinished teak decking, new carpeting and updated upholstery, new and overhauled generators and engine, and new underwater lights. She will be in the Caribbean this winter at a lowest weekly base rate of $75,000…
Sunreef Yachts Charter is offering a transatlantic charter onboard the 70-foot sailing catamaran Blue Guru as she repositions for the winter season from Barcelona, Spain, to the Caribbean island of St. Maarten. The trip is expected to take four weeks, and rates are 6,000 euro plus expenses for one guest, or 10,000 euro plus expenses for two guests… The 70-foot sailing catamaran Seazen II is repositioning to the Caribbean and will be available for charter in the Bahamas beginning in March…
Sunseeker Charters says its 121-foot trideck motoryacht—the largest in the Sunseeker fleet—already has seven weeks of charter booked for the 2009 Mediterranean season at a base rate of 120,000 euro per week. Only a few weeks of availability remain… The 105-foot motoryacht Shadow and the 100-foot motoryacht Murcielago will both be available in and around St. Bart’s beginning in November… Sunseeker also has 90-, 82-, and 75-foot motoryachts available this winter on Mexico’s West Coast.
New First Impressions Posted on CharterWave This Month:
Fathom, 131-foot motoryacht
Resilience, 112-foot motoryacht
Sojourn, 130-foot motoryacht
Tuscan Sun, 147-foot motoryacht
New Crew Interviews Posted on CharterWave This Month:
Martin Greatbanks, captain, 100-foot motoryacht Cristalex
William Dobson, chef, 130-foot motoryacht Arioso
New Broker Interview Posted on CharterWave This Month:
Sandy and Tom Taylor, Taylor’d Yacht Charters
New Helpful Articles Posted on CharterWave This Month:
Kathleen Mullen Interview from the Monaco Yacht Show
Beverly Parsons Interview Following a Croatia Cruise
Please Support CharterWave’s Sponsors:
Regency Yacht Vacations
International Yacht Charter Group
Virgin Island Sailing
C.U. Yacht Charters
Shannon Webster Charters
Northrop and Johnson Worldwide Yacht Charters
Broker Gail Hartman