A personal message from Bert Fowles, VP Marketing & Sales IGY Marinas
First and foremost, we are all in this together and I wish for you good health, wellness and stability.
As our population combats the Coronavirus pandemic, it is important to look at existing (now outdated) baseline data from before the virus occurred to determine how our industry will eventually and definitely change.
The goal of the following information (EE&O) is to present baseline data insights for those inside and outside our industry to advance superyacht business communications to positively support ongoing superyacht sector analysis.
How is a superyacht used every day of the year?
A driving force is the emotive appeal of yachting, coupled with vessel operations driven by less emotive factors including budgeting, analysis and reporting.
Taking this quantitative approach further - below are insights into the per annum utilisation of a superyacht in days.
Building on this information - each category encompasses costs and return on investment whether from an experiential (human) or asset standing (vessel).
How many days does a superyacht charter per annum?
A vessel is offered for charter to offset vessel costs and maximize asset utilization. The following information gives an annual utilization snapshot (in days) for two of the main charter hubs along with an estimated ‘potential’ number of charters for each respective region.
Expanding on this information - each charter represents vessel revenue generating potential. Given preparation logistics and crew downtime, not all days reflect active actual “on” charter time.
How much does a charter cost?
To add scope to a complex question – the following chart gives insight into the cost of chartering a 150ft/45m vessel for 7 days with six passengers.
Strategy - Sourcing “new to yachting” customers and keeping them in yachting is a key industry objective. By providing customers and stakeholders with an enhanced understanding of vessel costs and operations – data driven market expectations can align with ranges for usage, operational costs and charter potential.
Market Impact – All ships rise and lower with the tide and after a disaster there are organic and inorganic impacts. How we manage the inorganic impacts of this unfolding pandemic will determine our industry’s collective ability to navigate this and future challenges.
Ongoing discussion - With so much information on our industry targeting qualitative factors, this material is being presented to build superyacht discussions around data insights per my viewpoint and welcome feedback to refine or elaborate on the ideas raised.
Looking forward to a brighter tomorrow as we face the challenge of today.
Be well and keep healthy.
Images: Bert Fowles, IGY Marinas