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The Yacht Management Process

Yacht Management ProcessYacht Management Process
Yacht Management ProcessYacht Management Process


The Yacht Management Process

Yacht management services, such as those provided by Fraser Yachts,have played an important role in the luxury yacht industry for a long time now, but not everyone is completely aware of the yacht management process and the many advantages it offers to the yacht Owner and crew. New yacht Owners in particular might be uncertain as to what a yacht management company provides, how they support yacht’s onboard crew, or why they play such a vital part in the modern regulatory process.

In short, yacht management companies provide expert information and guidance to ensure that the yacht is run with maximum efficiency and in keeping with the increasingly complex regulations applicable to the yachting industry. From their position on shore, yacht management professionals are an invaluable boon to captains by navigating the growing web of maritime safety, environmental and training regulations, as well as completing time-consuming crew administration tasks, such as crew payroll, insurance, and background checks.

When one considers that the yachting industry’s safety regulations are secondary only to the aviation industry, it becomes resoundingly wise to have outside experts ensuring that the yacht remains compliant with all maritime codes—whether that’s ensuring all crew have MLC-approved Seafarer’s Agreements, or notifying the captain of amendments to the IMO guidelines. Not all yachts are subject to the same regulations or crew training requirements, so a yacht management company will devise a tailored solution for each yacht in their managed fleet and keep abreast of all changes.

A yacht management company is also employed to provide financial reporting and oversight on yacht operations, including periods spent in a shipyard. This budgetary management, technical assistance and regular financial reporting diminishes waste in the yacht’s yearly running costs and refit bills, as well as reducing yacht downtime through efficient yard schedules and supervision. A yacht management team will do everything to ensure that a yacht is in the shipyard for less time, at the least possible cost to the Owner.

If anything goes wrong onboard, the yacht management company leaps into action to resolve the issue, whether that’s utilising their global logistics network to deliver spare parts, organising an emergency response in a crisis situation, or dealing with an employee issue onboard. Without a team of yacht management experts assisting, this burden falls upon the Captain and officers, who can soon find themselves drowning in paperwork and being taken away from their primary concern of operating the vessel for the guests’ pleasure and safety.

Running a superyacht is an increasingly complex operation, and one that is progressively difficult for the crew to manage alone without risking non-compliance or even a drop in professional standards. The yacht management process ensures 24/7 support, advice and guidance, wherever the yacht is located in the world.

Taking on a yacht management company allows Owners to relax and enjoy their yacht to the full, unburdened by checking financial statements, worrying about compliance or chasing up delayed shipyard schedules. Ultimately, the yacht management process ensures the smooth running of a yacht, enhancing an Owner’s enjoyment and peace of mind, while supporting the crew so that they can deliver exceptional service to their guests.

Yacht Management Process