presented by

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

In today’s newsletter:

• Q&A: Charter management & market trends with IYC’s Liliana Lopez

• Charter updates: Fleet updates for Allied Yachting Agents, Northrop&Johnson, Eastwind Charter, Ocean Independence and SeaScape and special offers!

• Charter photo: Aft deck spaces on M/Y Loon

• Destination spotlight: Discover Sardinia 🇮🇹

• Post of the week: @yachts.mp4’s Carinthia VII shot 📸

TOP STORY

Q&A Interview: Charter management & key market trends with Liliana Lopez, Head of Charter Management US at IYC

At this year’s MEDYS, Yacht Charter Market and SuperYacht Times’ Jessamie Rattray sat down with Liliana Lopez, Head of Charter Management US at IYC, to discuss managing the world’s largest charter fleet and the emerging charter market trends of 2024.

Can you tell me about IYC’s charter fleet, particularly the fleet managed by the US office?

We have 160+ yachts in the IYC charter fleet, 40 of which are managed by our US office. Despite being managed from the US, the yachts in our fleet cruise all over the world; we have yachts that spend time in the Bahamas, the Caribbean, up in New England, on the West Coast from Mexico up to Alaska and more.

We even have a new Charter Manager who is based out of San Diego, California and the Baja California area of Mexico, and we are currently promoting that region for charter management and are attracting owners from there.

A lot of our boats regularly come over to the Mediterranean in summer and cruise all over the region. We also have a yacht based in Greece that we manage out of our US office.

What goes into the management process to make it seamless and successful?

One of the core principles in our charter management process is matchmaking. We try to attract like-minded and commercially-minded owners who really want to give us a shot at chartering. It's important to us that our clients share our ambition and understand what it takes to run a successful charter programme.

During the pandemic, there was an influx of yachts that entered the charter market due to the tremendous increase in demand for yacht charters as a safe vacation alternative. What we then experienced was a lot of owners who had quickly put their yachts into the charter market, but maybe without having the experience or education about what makes a charter boat successful, and an unawareness of some of the realities that come with chartering.

A lot of owners today are more ambitious, and have certain ideas about revenue from charter in their minds, which applies a lot of pressure. 

But that's why it's equally as important for us to be able to manage their expectations, right from the get go. We have these conversations with them while we're getting to understand what it is that they're looking for in charter management.

We are very thorough, even when we receive interest from owners who are looking to transition from another brokerage house over to IYC. We remain selective with who we take on because we don't want to over-promise and under-deliver, especially in the softening market that we're experiencing overall.

Do most of the yachts in your charter fleet consist of new additions, or are there many that have been part of the IYC fleet for a long time?

We have boats that have been with us for a very long time, but lots of new additions coming in too. I would say around 60% of our fleet is made up of newer additions, while a solid 40% of our fleet has been with me since I started at IYC five years ago.

From a charter management point of view, could you explain the importance of charter shows?

The charter shows are where we really shine. It's where we have an opportunity to showcase our boats, our platform, the programme and the crew. It gives brokers the chance to have those conversations and familiarise themselves with the crew and the captain.  It's so important for brokers to come onboard, to touch, smell and feel, experience the energy and understand what's behind all the images that they see online. 

These shows help to keep certain boats at the top of mind for the brokers; if you haven't seen a boat in several years, you tend to forget about it, or maybe you're not as confident in the boat, because you haven't seen it. So being present at the shows and showcasing what you've got is extremely important.

As a global company, yacht shows and charter shows allow us to have face-to-face contact with our colleagues based overseas whom we don't really get to see on a regular basis yet are in constant communication behind the computer.

In terms of bookings for 2024, how are you doing compared with this time last year?

We're slightly ahead of how we were doing this time last year and have grown our fleet since then too. So we are staying really positive. There is interest, there are bookings, and people are still chartering.

However, there are various points of uncertainty unfolding worldwide, including wars and the US elections taking place this year. The US elections cause hesitation, historically speaking, and with a large chunk of our charter clients being American, I'm noticing a bit of a trend for more last-minute bookings, with clients waiting a little longer before they make that commitment.

We understand that there's an ebb and flow in the market, and certain situations impact the state of the market and make it slower, so we are by no means in a state of emergency.

What are some of the trends you have noticed in charter destinations in recent years?

During the pandemic, a lot of our American clients chartered closer to home, in the Bahamas, the Caribbean and New England, while a lot of Europe was still under lockdown and travel was restricted. As restrictions in Europe lifted over the last few years we saw a massive spike in Mediterranean charter bookings.

Now that this has died down, I suspect that people are going to be coming back to the Bahamas, the Caribbean and New England. There is also increasing interest in further-afield destinations, as people are keen for exploration. We have interest in parts of Asia, and we have a boat in our feet that's considering going to Greenland, and other boats offering itineraries out of Norway.

Has the nature of yacht charter changed in the last 10-15 years?

10-15 years ago, it was more common to charter a yacht and use it as a luxurious base from which to explore beautiful destinations. Today, you could say that the yacht charter is the holiday. With such luxury on offer, excellent chefs and service, huge deck spaces and amenities such as spas and an expansive suite of water toys, chartering a yacht has become a vacation in itself.

This probably ties into an increased demand for larger yachts with such facilities. Each generation wants a different experience and has different expectations, and the younger generation of charter clients is very keen to charter larger boats.

If you had to design a yacht based on popular criteria among your charter clients, what would it look like?

It would definitely have to be a more contemporary type of build and from a charter management perspective it would ideally have enough accommodation to house ample crew to deliver the best service. I love the open galley concept that you see in the interior of King Benji, where guests get the chef’s table experience.

I’d definitely include a Jacuzzi, and some sort of wellness factor, like a gym, spa or treatment centre and cold plunge. Eco-friendly considerations are also increasingly valued by our charter clients, so this would be a consideration.

LATEST CHARTER UPDATES

🚀 New CA for charter: Allied Yachting Agents has welcomed the 41.93-metre Benetti Crystal 140 motor yacht Nela to its charter fleet.

✨ Northrop and Johnson is the new charter central agent for the 42-metre Ferretti Custom Line Navetta motor yacht Paloma.

Eastwind Charter is the new charter central agency for the 40-metre Sunseeker motor yacht Nexus.

Ocean Independence announced that the 38-metre Ege Yat sailing yacht Kairos II has joined its charter fleet.

🌟 SeaScape is the new charter central agency for the 33.80-metre Admiral 33 motor yacht Xanax, now available to charter in Greece.

Ocean Independence announced that the 26.8-metre Sanlorenzo motor yacht C-Daze can be chartered for a newly published rate of USD 55,000 per week for the remainder of the summer season.

New video: Fraser Yachts released a new charter video for the 85-metre Golden Yachts motor yacht O’Ptasia.

Eastwind Charter advertised reduced VAT on the 85.1-metre motor yacht Solandge: She can now be chartered with a reduced 5.2% VAT in Greek waters.

Special offer: Superyacht Sales and Charter advertised that the 39.6-metre Hatteras motor yacht Lone Star is offering a summer special rate of 10% off charters booked through August 31, 2024.

Yacht Charter Market: Presented by YachtEye

Discover how YachtEye transforms the yachting experience for everyone onboard:

• Digitise all guest essentials, such as crew profiles, menus, and itineraries.

• Showcase boat details, like photos, videos and specifications, with the Yacht Info feature.

• Keep everyone informed with the user-friendly guest schedule, easily modifiable by crew.

• Access all data in one place, including yacht speed, weather, water temperature, and more.

• Access from anywhere onboard: Available on mobile, iPad, web, and TV devices.

Seamlessly connect your yacht, crew and guests on one platform to share the fun! Visit yachteye.com or contact [email protected] to learn more.

CHARTER PHOTO OF THE WEEK

Check out the swim platform and aft deck of the fantastic 68-metre motor yacht Loon. ✨

DESTINATION SPOTLIGHT

Travel Inspiration:

Undeniably Italian yet possessing its own unique identity, Sardinia offers visitors an unforgettable Mediterranean experience. Nestled just below Corsica, Sardinia is the second largest island in the Mediterranean, known for its unspoiled vistas, oasis-like scenery and its nearly 200 diverse and sublime beaches.

An Italian getaway without the noise of the mainland, visitors can indulge in a discovery of Sardinia’s natural beauty, white-sand beaches, crystal waters and colourful culture. A wild and untamed beauty, Sardinia is rich in green vegetation, dramatic rocky terrains and a panoramic ocean views.

With nearly 2000km of stunning coastline - with an abundance of secluded, secret spots - there is so much to explore for those visiting Sardinia by yacht. As reflections of the sun decorate the turquoise water and illuminate the Island’s rich landscape, it is no surprise that Sardinia is nicknamed The Golden Island.

You can’t visit Sardinia without indulging in some of the island’s spectacular local cuisine. Food is integral to Sardinian culture, and as one of the world’s few blue zones, the locals are very proud of their food culture. While Sardinian food is seasonal, expect cuisine to be focussed around meat and fish.

POST OF THE WEEK

@yachts.mp4 and @theyachtmogul shared this image of the iconic 97.2-metre Lürssen motor yacht Carinthia VII.

SHARE YACHT CHARTER MARKET

Share this newsletter with friends, colleagues and other interested parties.