Captain Nikos Psallidas on how to build a superyacht charter fleet

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Welcome to Yacht Charter Market, the weekly newsletter dedicated to the world of yacht charter.

In today’s newsletter:

• Building a yacht charter fleet with Captain Nikos Psallidas of IDyllic

• Charter updates: Charter fleet updates for Okto, Aalto and Unbridled and special offers from West Nautical, Large Yacht Corp, Ocean Independence, Edmiston and Northrop & Johnson

• Charter photo: Onboard the newly delivered Eternal Spark, designed especially for the charter market.

• Destination spotlight: Adventures on Canada’s West Coast

• Post of the week: TWW shares this great snap of two of its most popular Turkey-based charter yachts 📸

TOP STORY

Building a superyacht charter fleet with IDyllic captain, Nikos Psallidas

The 60-metre Benetti superyacht IDyllic belongs to a fleet of yachts managed by Angel Yachts Co (AYC), which are fully dedicated to charter. With three 70-metre Admiral yachts currently under construction at The Italian Sea Group, the project aims to bring to life one of the largest fleets of purely commercial yachts within the 60 metre-plus range. The Captain, Nikos Psallidas of the IDyllic, was sought out by the management company, with whom he has developed a deep working relationship. In this interview, he discusses this unprecedented project, and how important finding the right crew is, for such an undertaking.

Can you tell me more about this unique project?

Our vision at AYC is to centre the design around the human experience – whether that's the guests or the crew. We recognize that for guests to have an amazing experience, they need to be served by an amazing crew. We want crew members who are not only competent but also have character, "Φιλότιμο" (filótimo, in English can be described as a sense of honor, integrity, and selfless duty) special skills and who speak excellent English. Ideally, they should speak a second or even a third language. 

We currently have two yachts: the motor yacht IDyllic and the 60 meter motor yacht SEAKID II. IDyllic is purely commercial and has been for the last three years. SEAKID II, has also entered the commercial sector after a major refit last winter, with her last guest being Kevin Hart for his birthday celebration.

The plan is to charter the yachts all year round, because we believe that we can indeed run double seasons year after year. Although we can achieve a lot with a single season due to the newness of the yachts and aggressive marketing, our long-term goal is to achieve above 20  weeks of charter annually.

What can you share about the current state of the fleet?

Three more yachts are currently under construction, at The Italian Sea Group (TISG) – Admiral shipyard. They are three 70-metre yachts, almost identical, although we are changing the style of each yacht, offering different themes, colours, and interior aesthetics. One will be more minimal, another more contemporary, to offer options to our guests. Since the fleet will be similar in length and capacity, the Owners wanted each to have its own unique character.

The first hull is nearly complete and the yachts are being built in parallel.  The first yacht is scheduled for delivery around mid-2026, the second at the beginning of 2027 and the final one by mid-2027, as per builders’ contractual obligations.

The boats are designed to be versatile. The general idea is that they will accommodate 12 guests across seven staterooms. They may appeal more to younger people due to their modern and minimalistic style. However, they are interesting and enjoyable for a broad range of clients.

With back-to-back charters, the crew will need to be highly committed and skilled. What do you look for in an applicant?

Rotation is the way forward. We've discussed this many times with the management of AYC and know that eventually, it's the only viable option. Fourteen weeks is already very demanding and takes a big toll on everyone. To perform at the highest level, we need to be as rested, relaxed, and happy as possible. It is essential to find a balance between family life and yachting life. So, eventually, I think rotation is the only solution. But the most important thing is to have the right crew.

It’s all about ethos. You see, there are many people ready to enter the industry if we guide them properly. Since we now have quite a few crew members who have been with us for many years and have the skills and ability to share their knowledge and experience with the younger ones, we feel we already have a strong foundation to start building on. I can see the challenge because, in a very short period, we will need to have at least 50 new crew members.

Can you tell me more about the process for selecting and nurturing crew?

Currently, with two platforms, we focus on retaining our most valuable members. Our company values loyalty and hard work. We prioritise good character, good attitude, and ambition. If you are a hard worker, if you're good at your work, if you respect your job, you will stay with us forever. 

We invest in people.

There is a large pool of people with skills suitable for the industry and it's our responsibility to attract them and show them the way. We will start with recruiting the top graduates from our nautical academies, focusing on those who excel. We are looking around, discussing with people and actively recruiting. Soon, we plan to offer shorter, rotational contracts, employing people all year-round, giving them security and the knowledge that they are with us for the whole year and the years to come. This way, we can train them, see if we are on the same page with them, and aim to recruit at least a third of our crew in the next year.

Can you tell me about management’s involvement?

Angel Yachts Managing Director Mr. Dimitris Angelakos, is the man behind this new project. For recruitment, our crew manager conducts the initial interviews, then I provide feedback. If a candidate is promising, Mr. Angelakos conducts a thorough interview to assess their enthusiasm and fit. He is interested in understanding the person beyond just their skills and experience. He wants to understand the person's ethos and enthusiasm.

The crew is very important to our managing director. He values both the person and their skills, and genuinely cares. He follows every little thing that is happening on board in a discrete way. This has created a respectful and mutually committed relationship. For instance, after a long charter, he allowed the crew extra time to enjoy themselves—a gesture I had hoped for. He wants to let the crew have fun, let them enjoy a portion of the experience that they offer to the guests. I would like to add, the thought behind rotational crew with all year round employment is Mr. Angelakos’ idea in order to create secure jobs.

Is the intention to prioritise the hiring of Greek crew members?

So far, the  AYC has maintained a 90 percent Greek crew by deliberate choice, not by chance. We are committed to having a predominantly Greek crew, occasionally including a Filipino petty officer, deckhand, or stewardess. Fortunately, Greeks have a strong tradition in philoxenia (hospitality) and the tourist industry. Most of us speak good English as well. This decision reflects  Mr. Angelakos’ love and respect for Greece, its history, and its people. One of the primary reasons for this commitment is to provide jobs for Greeks who aspire to excel.

We are not building three yachts solely to make money but to provide safe employment within Greece; if profit was our only goal, the Owners would have stayed in  other industries, which they have been part of for many successful  decades. While they aim to keep as many Greeks as possible, they are also realistic. If we cannot find Greeks meeting the required standards for the existing and future yachts, we will hire from other nationalities. Ultimately, our goal is to provide the best service possible and make a significant impact on Greek and eventually worldwide yachting.

LATEST CHARTER UPDATES

☀️ Fill the gap: Edmiston is offering the Oceanco superyacht Aalto with some final summer season availability from August 21st in the west Mediterranean

The Mediterranean | High € 875 000 p/w, Low € 775 000 p/w

🚀 Fill the gap: Worth Avenue is offering the last summer weeks aboard 66.4-metre Okto from From €480,000 p/week + expenses 

• From 23rd August to 15 September

Exclusive Offer: Northrop & Johnson offering Unbridled for $260,000 per week, reduced from $295,000.

🐠Charter discount: Ocean Independence have a 20% discount on 35-metre Shaha for August and September.

• Regular rate: EUR 62,000 - EUR 67,000 p/w MYBA

•  Discounted special offer rate: EUR 49,600 - EUR 53,600 p/w MYBA

🚀 2025 confirmed for Okko by Large Yacht Corp, with charters in Italy already confirmed for next Mediterranean season from €95,000/week

Arcon Yachts is now offering 28.5-metre Benetti motor yacht Ocean Drive in Croatia. She was most recently refitted in 2021 and is offered for €88,000 per week

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CHARTER PHOTO OF THE WEEK

The first images of the 49.95-metre newly-delivered Bilgin superyacht Eternal Spark have been unveiled by her builder Bilgin Yachts. Developed especially for the charter market, Eternal Spark offers guests a vessel with ultimate luxury and adventure in her DNA.

Check out the full onboard photoshoot here.

DESTINATION SPOTLIGHT

From Ice to Ocean: All that Canada’s west coast has to offer

From awe-inspiring mountain peaks to breathtaking marine life, the western coast of Canada offers superyacht charter guests an unparalleled sanctuary. With numerous ports along the coast capable of accommodating superyachts, the western coast of Canada is a true yachting haven. Peak times to visit are from April to June and September to November.

Charter guests have the spectacular opportunity to be whisked away by helicopter from the helipad aboard their yacht to soar above the Canadian Rockies. While the beautiful scenery can be explored by foot or by car, this irreplaceable experience is best viewed from the comfort of a helicopter. The view from the helicopter will grace you with Alpine meadows, towering mountains, and spectacular lakes.

In the summer, guests can enjoy one of the most beautiful lakes in Western Canada, nicknamed the Jewel of the Rockies. Lake Louise boasts opaque turquoise waters surrounded by snow-capped mountain peaks. While it may be trickier for yacht guests to reach due to its inland location, this stunning lake is an essential mention for its sheer beauty and serenity. A day at Lake Louise can be filled with outdoor fun, from hiking to kayaking. For food lovers, settling in at the Whitehorn Bistro to feast while taking in the views is a must.

During the winter months, the turquoise lakes of the Canadian Rockies freeze over, creating nature’s own skating rinks. If skating amidst the magical, snowy landscape isn’t for you, consider watching a hockey match instead.

Another highlight spot is Stanley Park. With a plethora of different activities to partake in, Stanley Park caters to all. Following its famous Seawall, discover lush gardens, breathtaking views, the renowned Vancouver Aquarium, Indigenous art, and pristine beaches.

In British Columbia, one of the most famous animals known to Northern Canada can be found: the grizzly bear. The Khutzeymateen Grizzly Bear Reserve in Northern British Columbia is a well-known spot for visitors to observe bears in their natural habitat. Alternatively, if marine mammals interest you more, the coast off Victoria is a splendid spot for whale watching. From May to October, large numbers of pods can be spotted on this coastline, particularly at sunset.

POST OF THE WEEK

@twwyachts shares this great snap of two of its most popular Turkey-based charter yachts, the 33.5-metre Axella and the 36.5-metre Sanlorenzo Morning Star, photographed outside Bodrum.

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