There was a time when yacht management was nothing more than a tool used by the yacht broker to stay very much in touch with the owner during that tricky period between taking delivery of his yacht until such time as he decides that he wants to upgrade to a larger yacht, or otherwise dispose of his current vessel. By managing the yacht for the owner, the broker was sure to be on hand when he was needed, to become involved in yet further commission earning revenue. Today that is no longer the case. Over time, the process of looking after the yacht as a financial investment has become so great that specialist advice is a requirement of the owner, in much the same way he calls upon his stockbroker to manage his share portfolio. In recent years many insurance companies now make it a provision of cover to have a recognised management company involved and this often pushes an owner towards yacht management.
Perhaps the most important factor in quality yacht management is saving that owner time. It is up to the manager to resolve the day-to-day issues to work in tandem with the captain and crew
Yet, no two kinds of yacht management are the same. Each service offered to an owner should be (and in most cases is) tailored to meet their needs and expectations. The range of yacht management services offers by companies ranges from ISM support to full management, including chartering and crew employment. Having a yacht management contract in place can affect the sales value of a yacht. It should set a standard for maintenance and operation of the yacht.
Having spent the last 23 years in the superyacht industry covering all aspects of sales, charter, new construction and management, Nicholas Dean could be said to have been round the
BLUEWATER YACHTING Do the words AUDIT or SURVEYS send a shiver down your spine? Do you get lost in your yacht’s accounts, drowning in receipts? Bluewater’s qualified and experienced team will take away your admin headaches, leaving you to focus on the job at hand. Already have a management company looking after your finances, no problem! With their intelligent tailor-made service offering, the team could focus on your audits or flag and class surveys. Whatever your needs, Bluewater are there to help and reassure, not to look over your shoulder, but as a shoulder to lean on. Safety isn’t expensive, it’s priceless. For more details email:
management@bluewateryachting.com or visit
www.bluewateryachting.com
block once or twice. Together with his great friend and professional associate, Peter Hürzeler, Nicholas formed Ocean Independence, and became its joint managing partner. The company flourished and now benefits from 15 offices and over 120 team members, representing full coverage of all aspects in the large yacht industry. The company’s yacht management division is an important fee earner and contributes towards its ongoing financial success.
Dean contends that most superyacht owners buy their yachts for their own enjoyment and doing so, is often the culmination of a lifestyle dream. He says, “Perhaps the most important factor in quality yacht management is saving that owner time. It is up to the manager to resolve the day-to-day issues, to work in tandem with the captain and crew to create the very best possible experience for the owner and / or the charterer.”
Knowing that your major asset is run efficiently, within budget, with monthly reporting and financial analysis is all there to create piece of mind and to protect the investment made. In recent years, the bureaucracy surrounding ship management, crew employment and financial transparency, is such that a management company already structured to handle all these issues, offers a time and cost-efficient option to the yacht owner.
Now the Yacht Management Director at Bluewater, Phillip Holden, spent time serving in the Royal Navy before joining the yachting fraternity. In 1991, together with John Wyborn and
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