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

In today’s newsletter:

• Leading charter brokers give us their summer charter season forecast ☀️

• Charter updates: Fleet updates for Moran Yacht & Ship and Fraser Yachts, and special offers from Ocean Independence and Ekka Yachts

• Charter photo: Okko 🌊

• Destination spotlight: Antibes 🇫🇷

• Post of the week: A glimpse of life onboard Emir 🛥

TOP STORY

Leading brokers give us their summer charter season forecast

As the summer season quickly approaches, we asked top brokers about the state of the charter market and their forecasts for the summer 2024 charter season.

In terms of the state of the charter market, a busy, but not chart-topping, summer season is expected. “We are finding that clients want to book earlier each year and this year is no exception,” Ben Harwood, Head of Charter at Burgess, told us. “Summer 2024 is shaping up to be a very busy year.”

Our experts noted that 2024 will likely share a similar level of high demand with 2023's summer charter season. Frances Edgeworth, Charter Broker at Fraser Yachts explained, “It’s currently very busy and a lot of people have already secured their charters for this summer. We are expecting more or less the same number of charters as last year if not more, the market is very active!”

Bookings demonstrate that the most popular months to charter also follow 2023’s pattern. “The most significant drop compared to previous years seems to be with charters for private individuals in August and September, again following last year’s trends,” reported Chloe Riley, Head of Charter at Super Yachts Monaco.

“This could be for various reasons: the lack of demand in August is likely spurred on by the oversaturation of ports, restaurants, etc, which serves as a deterrent to many charterers. Ultimately, August will often be fully booked, albeit by last-minute bookings.”

However, it is important to note that while demand for yacht charters is high, it does not compare to the post-Covid boom experienced in 2021. “Charter demand is following a similar pattern to last year, with a significant drop in bookings compared to the post-Covid boom of 2021 and 2022 due to various factors such as inflation coming in to play,” reported Chloe Riley of Super Yachts Monaco.

“It could also be argued that market trends have simply reverted to pre-Covid times,” Chloe Riley elaborated.

Sacha Williams of Northrop and Johnson noted a similar trend, explaining “The charter market has definitely returned to pre-pandemic levels with some regions feeling it more than others. New England and the Bahamas were booming when Americans were holidaying on home soil. Now, the appetite for international travel has returned these destinations have definitely seen a slow down.”

The Mediterranean, particularly the West Mediterranean, reigns supreme as the most desired cruising ground this year. “Looking at our current bookings, the West Med (Italy and France) remain the most popular,” Ben Harwood, Head of Charter at Burgess told us. In a similar vein, Fraser Yachts’ Frances Edgeworth highlighted that “Corsica & Sardinia are very popular this year, as is the Amalfi Coast.”

Corporate bookings for the upcoming summer season remain popular, often centring around highlight events in the Mediterranean. Chloe Riley of Super Yachts Monaco told us, “Corporate bookings are still very strong, particularly for events such as the Monaco Grand Prix, the Cannes Lions, the Cannes Film Festival, the America’s Cup etc.”

However, interest in the East Mediterranean remains high. Greece is increasingly emerging as a top destination, explained our experts. Burgess’ Ben Harwood said, “Greece becomes more popular each year, and likely more so with the introduction of the new licence option meaning there will be a wider selection of yachts able to charter there.”

Fraser Yachts’ Frances Edgeworth offered parallel insights, explaining “We are receiving a huge amount of interest in Greece, although this is normally the case every year as it’s a wonderful cruising ground.”

George Brotherton, Sales & Charter Broker at TJB Super Yachts, also recognised the popularity of the East Mediterranean. “Among the destinations capturing the attention of our clients this year are Croatia and Montenegro, Turkey, and the Ionian Islands in Greece.”

It appears that the desires of clients whilst onboard charter yachts is shifting. Full utilisation of the special quirks of the yacht and their facilities is foremost. Frances Edgeworth of Fraser Yachts explained, “We have noticed in recent years that clients are more interested in staying on the yacht to enjoy the water toys and amenities offered on board. This also means we have to ensure our yachts have the best chefs and crew.”

This theme was mirrored by Ben Harwood of Burgess, who told us “We are finding that clients are becoming increasingly focused on fitness and wellness. Having a personal trainer or yoga instructor on board, as well as a state of the art gym and water toys is increasingly important.”

When it comes to the specific charter yachts or the nature of charters requested by clients, Fraser’s Frances Edgeworth noted that the demand for new-build yachts is high, with the availability of such vessels not meeting this demand. “To have more modern, brand new yachts available for charter would be ideal, they are highly in demand,” Edgeworth explained.

TJB Super Yachts’ George Brotherton noted, “Summer 2024 is set to witness a surge in sailing yacht charters, with clients increasingly seeking bespoke itineraries and peaceful anchorages in tranquil destinations. This desire for serenity reflects a broader shift for experiential travel, where authenticity and connection with nature are increasingly important.”

LATEST CHARTER UPDATES

Price reduction: Edmiston announced a reduced rate of €150,000 p/w for dates in May, June and September onboard the 49.9-metre Codecasa motor yacht Mariu.

New to fleet: The 44.6-metre Feadship motor yacht Gladiator has joined the Northrop and Johnson charter fleet.

Special discount: Ekka Yachts announced a 10% discount to low season dates for bookings finalised before May 15 onboard the 33-metre Ferretti motor yacht Best Off. 🐠

🌟 New CA announcement: Moran Yacht and Ship is the new worldwide charter central agent for the 33-metre Lazzara motor yacht La Reve.

🚀 Fraser Yachts is the new charter central agent for the 31.4-metre Mangusta Overmarine motor yacht Wet Panther.

Fleet update: Hill Robinson welcomes the 55-metre Rossinavi motor yacht Taleya to its charter fleet. 🌅

💰Special offer: Ocean Independence announced that the 34.1-metre Sanlorenzo motor yacht Halcyon is extending a 10% discount and no delivery fees for week long bookings through June in the Bahamas.

Fill the gap: Fraser Yachts announced a unique opportunity to fill the gaps onboard the 35-metre Benetti motor yacht Heaven Can Wait.

These openings are:

• June 17 to July 7 ☀️

• August 31 to September 10 🏝

Yacht Charter Market: Presented by YachtEye

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CHARTER PHOTO OF THE WEEK

All aboard: The 41.10-metre Mondomarine motor yacht Okko and her jet skis. 🌊

DESTINATION SPOTLIGHT

Travel Inspiration: Antibes 🇫🇷

Within ancient town walls sits the romantic town of Antibes. One of the most visited places in the Provence-Alpes-Côte d’Azur region, Antibes is the charming, bohemian sibling of nearby Cannes and Nice and offers visitors a break from hectic city life.

Vibrant and rich in history and culture, the coastal city of Antibes greets visitors with a relaxing atmosphere and an authenticity unmatched in other Rivieran hotspots.

Antibes' historic stone city walls and amber-coloured roofs set against a picturesque backdrop make approaching Antibes by yacht something to behold.

Visitors arriving by yacht are spoiled to Europe's biggest marina, Port Vauban, and a relaxed anchorage system within the crystal clear waters a matter of metres from the shore.

Explore the captivating hidden coves dotted around Antibes, fringed by glorious palm trees, jagged rocks and home to bewitching turquoise blue waters.

POST OF THE WEEK

Check out this reel posted by @emir.royalfleet showing everything that motor yacht Emir has to offer.

emir.royalfleet

View more on Instagram

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