BLUEWATER YACHTING Do audits send a shiver down your spine? Phillip Holden, the Yacht Management Director, spent his 20s and 30s in the Royal Navy and as a superyacht captain on several vessels. With his experience and knowledge, he understands the stresses of running a safe, efficient and properly maintained yacht. Phillip and his team of professional yacht managers, advisers, and DPA take the headache out of audits, surveys, shipyard visits and negotiations with various suppliers. They will ensure the yacht’s compliance with fiscal rules, charter, charter licences of different countries, registration, reporting and VAT returns. Tell them what you need; the management team are on hand to advise, support and work with you to ensure smooth, stress-free operations. For more details, email:
management@bluewateryachting.com or visit
www.bluewateryachting.com
as it would be simpler from a regulatory standpoint to apply the same rules across the board, there are always going to be owners and captains who prefer not to be “constrained” in their operation, or to not have added costs of annual surveys, etc. when there is no requirement to do so.”
Generally, yachts over 500gt have not only the crew numbers, but also the experience to manage this level of administration. Under 500gt, there are seldom enough crew to complete all the ISM tasks. A mini or a scaled-down version of the full ISM already exists in the form of the Mini-ISM code, which is an annex to the Red Ensign Yacht Code.
“Private yachts, regardless of their size and use, have a duty of care to ensure the safety of their crew, passengers, and the environment,” says Philip Holden. “While it may not be necessary for private yachts to fully comply with the ISM code, implementing its principles and standards can significantly improve the safety and operational efficiency of the yacht. Currently, it is only
Private yachts, regardless of their size and use, have a duty of care to ensure the safety of their crew and passengers recommended that private yachts consider adopting the ISM
code and adapting it to their specific needs. Some private yacht owners voluntarily comply with the ISM Code as it provides a framework for good management practices.”
CAPTAIN’S LITTLE HELPER
With captains constantly citing the shortage of time as being the criteria that defines their job and sets it aside from others who sail as crew in superyachts the question is how does a yacht manager help the captain do his job better? Phillip Holden adds, “Over the years, the admin requirements on a yacht captain have increased dramatically and the industry was not run as professionally as it is now. The crew were often paid in cash - with no contracts, compliance requirements were much lighter, and accounts were often a shoe box full of receipts! “He adds, “The evolution of this has been extremely positive. Vessels, crew, and owners all find themselves in a much clearer, safer situation in all aspects on board. This type of environment demands a level of paperwork on the captain that wouldn’t leave much time for navigation.”
Simon Dudding Yacht Manager at Bluewater says, “Yacht management companies are the solution to outsourcing most of the vessel admin; with specialists in finance, compliance, insurance, employment, technical issues… The list goes on. It would be a massive undertaking for one person to understand and be on top of all the vessel’s legal, fiscal and compliance obligations, so these days, captains are more than happy to work with an experienced management company.”
152 | SPRING 2023 | ONBOARD
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