Yacht management from ship to shore
From helpful hierarchies to clever communication, learn how savvy owners keep their superyacht Bristol fashion.
Management and maintenance
In some cases, the owner will empower the Captain to manage the yacht on his behalf. The manager should take care of the maintenance schedule for the yacht, the accounting and finance, crew recruitment, classification renewal, insurance and berthing requirements. A professional management company and a strong crew will ensure that the yacht is run and maintained correctly to maximise both the owner’s enjoyment and the ultimate residual value of the yacht.
Ultimately, clients want value. Superyachts are of course ultra-high value items – and the sea is a rather precarious and demanding place in which to base such cherished and luxurious assets – but they don’t need to be as expensive as they often are. Assemble the right team; absorb the knowledge gained from other owners’ builds, successes and mistakes; develop a cutting-edge understanding of certification, compliance and regulation; and maintain an eagle eye on where the money is going at all times and the voyage from conception to delivery will be as painless as possible.
Historically, superyacht owners would hand over the day-to-day running of their vessel to a chosen Captain, just as the chair of the board passes the everyday control of a company to its managing director. With the increased workload and plethora of regulations that deluge captains’ desks, it is increasingly common to place the running of a superyacht into the hands of a professional yacht management company.
Prizes and pitfalls
The delicate art of yacht management requires significant co-operation between shore staff and the ship’s Captain. However, it is all too easy for conflicts to develop, between a Captain who has worked hard to attain his or her position, and a management company with significant experience of applicable rules and regulations.
Captain-led methods place the entire burden of management onto one person, with the intrinsic risks of important regulatory and safety changes falling through the cracks. However, a manager operating in an overly top-down fashion risks losing sight of the fundamental purpose of the vessel: the enjoyment of owners and charter guests.