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Written by Kim Kavin
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Monday, 07 December 2009 18:58 |
 It’s been an interesting first full day here at the industry-only charter yacht show on Antigua. I have asked at least 20 charter brokers, fleet managers, and yacht captains for their take on the state of the industry. And I have received about 20 different responses.
That’s unusual. Typically at these boat shows, at least 85 percent of the industry players agree on what’s happening in terms of trends, bookings, and pricing. By the time this year’s show ends on Friday, I’ll be surprised if even 15 percent are remotely on the same page.
The only consensus I have been able to discern thus far is that things are better right now than they were at this time last year, when the charter industry (and the global economy) sailed right off the edge of the Earth. Exactly how things are better, though, is difficult to say.
Some reports are that the smallest sailing yachts are the only industry segment holding their own, while other reports point to sailboats of at least 100 feet in length enjoying the bulk of the inquiries coming in. Some reports are that megayacht owners have stopped offering discounts at all, while other reports include discounted rates of 30 to 50 percent. Some brokers tell me they won’t even approach a yacht owner without asking for a large discount, while other brokers tell me that if a yacht’s owner is offering more than a 15-percent break, they assume something is wrong (with the boat, the owner’s finances, or something else). Some insiders told me that they think the market correction is over and that the status quo has simply shifted to more last-minute instead of advance bookings. Other insiders tell me that their phones are now ringing for advance bookings a year from now, which means not a general market correction, but a year-long blip that has finally passed.
I think the only thing that’s safe to say is that each yacht, broker, and management company is experiencing vastly different effects of the continuing recession. The sizes of yachts, the nationalities (and preferred currencies) of their owners, the financial health of specific repeat clients, the negotiating skills of individual brokers—all of it is fostering a seriously mixed picture of where the market stands today, and of where it is headed next.
Hopes are of course high for more bookings before this winter’s Caribbean season is over, and for a return to the glory days of a summer Mediterranean season in which charter demand outstrips supply.
For now, though, those hopes appear to be just that, and do not seem to be buttressed by any overall patterns of business. It remains an interesting time in the market, one that offers serious opportunities as well as minefields of misinformation for anyone wanting to charter a crewed yacht.
I’ll continue trying to sniff out the truth for you here on the docks in Antigua tomorrow. Stay tuned.
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Nicole Caulfield is licensed, bonded, and a longtime member of FYBA and AYCA. She brings a unique perspective as a broker, having worked aboard yachts for nearly 10 years. Email Nicole
Trina Howes has 10 years of experience in the charter industry finding great pleasure in creating the best yachting vacations possible. E-mail Trina
Shannon Webster is a longtime AYCA member. She books yachts worldwide from 80 to 400 feet long. Email Shannon
Michael Sawyer of Infinity Yacht Charters has unique access to charter yachts and crew from Alaska to Mexico. Contact Michael.
Liz Howard joined Fraser Yachts as a charter broker in 2002 after more than 15 years in the maritime industry. E-mail Liz.
Ed Hamilton has worked in every part of the charter industry over the last 37 years and heads one of the largest, most respected charter brokerages.
Beverly Parsons has been chartering since 1969. She is a licensed, bonded broker and a founding member of the professional groups AYCA and CYBA International. Contact Beverly.
Sharon Bahmer is an expert at booking charters in the Americas, from Alaska to Brazil. She's also a member of FYBA and CYBA. E-mail Sharon
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