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When owning a superyacht, there are many aspects of managing your asset that are best delegated to a team of experts at a yacht management company.
There are a variety of services provided by management companies. West Nautical – leaders in bespoke yacht management, are here to tell us the five main benefits provided by a yacht management company you will need to successfully run your superyacht.
West Nautical will implement cost control management to ensure the yacht is purchasing only what is needed and avoid unnecessary spending. We recommend bulk purchasing on items such as spare parts and will secure discounts with suppliers.
West Nautical has a crew recruitment and management division who are experts in placing the right crew on the right yachts. This process will begin by searching for suitable candidates, verifying their qualifications, experience, and references before presenting a short list of suitable candidates to the captain and / or owner. The management company will then organise interviews and once the successful applicant has been selected, organise joining arrangements upon job acceptance.
Once the crew member has been placed on board, we conduct routine crew administration, support, and arrange down time that suits the yacht and owner’s schedule.
Technical support management includes all aspects of a yacht that allow it to function safely. Technical items include maintenance, repairs, routine services as well as purchasing equipment and spares from vendors.
West Nautical works with the client, captain, engineer, and crew to determine any technical issues on board, assisting with the recording and accounting for any warranty claims from a shipyard or contractors where applicable. We ensure that routine maintenance is conducted at all times, create shipyard proposals, and will oversee any refit periods upon request.
All vessels have to adhere to safety and security protocols. The two most important are the ISM Code (International safety Management) and ISPS Code (International Ship and Port Facility Security). A yacht manager is well versed in both these codes and will ensure that the yacht is kept up to date with changes in regulations.
West Nautical will ensure the safe running of the yacht by liaising with the Flag State and Classification Society to arrange for statutory surveys, audits, and inspections. We provide 24-hour emergency support as Designated Person Ashore and Company Security Officer.
Yacht management companies have expertise to project manage a new build or alternatively, manage minor or major refit works on a currently owned or recently purchased vessel. From sourcing quotes from multiple shipyards for comparison purposes to having someone on the ground managing the day-to-day operations.
A yacht refit is a complex business. Without effective management, careful planning, and ongoing evaluation, it’s something that can quickly go over budget and schedule. Having an effective management company to ensure the refit is efficient and economical is key.
Geoff Moore, West Nautical’s Managing Director said; “Having an experienced management team is vital in ensuring your vessel runs and is maintained to the best possible standard. Rules and regulations in the maritime industry are constantly changing, it is therefore in every owner and captain’s best interest to find a yacht manager they trust to keep them up to date in order to maximise the use of their yacht in the areas they wish to cruise or charter.”