Kathleen Mullen of Regency Yacht Vacations (a CharterWave sponsor) and of Northrop & Johnson recently attended the annual charter yacht show on Tortola, British Virgin Islands. She shared her insights with me about this year’s show, specific charter yachts that stood out, and trends going forward into the winter charter season.

What did you notice that was new and exciting compared to Tortola boat shows of years past?
I noticed a few things this year. No. 1: The boats are getting bigger. It’s noticeable at the dock. The average size boat is well over 50 feet at this point, and that’s true even for the catamarans—which means an awful lot of boat.
    No. 2: The boats really looked great. There are some truly stunning boats, and they really do spend time and energy. The caliber of the boats has really grown over the years to become quite impressive. If the economy is slow and the boats aren’t chartering, then these boats are using the down time to polish and shine.
    No. 3: There were more powerboats this year than in years past. They are not as big and fancy as you would see in Antigua or Sint Maarten, but that doesn’t mean that they didn’t look good. I think there are some nice options in the Virgin Islands fleet for medium-sized powerboats in the more affordable range. That’s a good thing for charter clients.

Did any yachts in particular stand out this year?
There were a few really nice boats. Akasha, which is not the newest of the three sisterships in the Virgin Islands [the other two are Zingara and King’s Ransom], just looked so spiffed up. The crew, the attention to detail and to the brokers who were onboard—all of it was very impressive. It just gives me the idea that on charter, the Akasha team would be capable of making sure that everyone would feel tended-to right away.
    I also thought that Motu, which is in the Blue Latitude fleet, had a crew who did a very nice job. They are French, and they took brokers for a sail at the end of the boat show. It was nice to see them handling the boat so well and doing such a great job. It was good boat and a good crew, and it was nice to have all the plusses of French culture. The food was great, for instance, and everything appeared effortless. I know that my clients would be looked after on that boat.

I know that some boats from your own fleet at Regency Yacht Vacations were in the show. At the risk of turning you into a self-promoter, I’d like to give you a chance to comment on them, too.
One of my sailing catamarans, ReAction, looked really nice. It’s not a new boat, but the crew have really been upgrading and tweaking it. They are so excited to be there. Even after three years onboard, they still have enthusiasm for charter. They have the boat really looking good, and they’re in fun mode for doing charters. It’s nice to see.

I’m hearing all kinds of chatter about how environmentally friendly the Tortola fleet has become, including the boat show itself.
The gossip is true. When brokers attend these shows, we get a packet at the beginning. This year, as part of the packet, every broker received a water bottle that would be refilled onboard the boats, and every boat had filtered water available—and agreed not to offer bottled water instead. They’re all asking their clients to accept filtered water now, too, during charters.
    It’s all part of an effort by the BVI fleet to be environmentally conscious. It’s a big deal because there is not recycling here the way there is in other parts of the world. The dumps are full of plastic water bottles. The fleet of charter yachts based out of Tortola is trying to do its part to stop that problem from continuing.
    Plus, the Charter Yacht Society had the entire boat show certified as a green event. There is an organization out of Newport, Rhode Island, that started that program for regattas and has since expanded into all boating events. You have to meet certain criteria, and they evaluate and make sure that you’ve done what you are supposed to do. It’s great to see the boat show itself becoming part of the solution in this way.

What was your take on the continuing global recession and its effect on the British Virgin Islands charter scene?
The real problem is for the new boats. The general trend seems to be that boats that have been here for at least the past four or five years have repeat clients and bookings. They might have seven to 10 bookings as opposed to the 20 or 25 of years past, but they do have bookings. It’s much harder for the new boats that everyone is still getting to know. That business, that new business, is not coming in at the volume of past years.

I saw you quoted elsewhere as saying the market will not rebound until a year from now.
I do believe that’s the case, that we won’t see a true rebound until the winter season of 2010-11.
    This winter is going to be better than last winter, but next winter is when I think we might start to see a true rebound. Right now, there are still bargain hunters, and they might still book, but the planners, the people who plan in advance, are thinking a year in advance.

Kathleen Mullen is available directly through the Regency Yacht Vacations website.

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