chartering vs owning a yacht

Yacht Charter vs Ownership: Which Option is Right for You?

Jun 21, 2023 | Sailing , superyachts , Yacht news

Embarking on a seafaring adventure aboard a luxurious yacht captivates the imagination of many. However, deciding between yacht charter and ownership presents a challenging dilemma. Each option offers distinct advantages and considerations, requiring careful assessment of preferences, lifestyle, and finances. In this article, we delve into the world of yachting, exploring the pros and cons of chartering a yacht versus owning one. From the freedom and flexibility of chartering to the personalized experience and potential investment benefits of ownership, we unravel the intricacies of these two paths. Whether you’re a seasoned sailor or new to yachts, join us as we navigate the factors that help determine whether yacht charter or ownership is the perfect fit for your seafaring dreams.

Understanding yacht charter

Yacht chartering offers individuals the incredible opportunity to embark on a seafaring adventure, exploring a myriad of diverse and captivating destinations. Whether you envision cruising along the sparkling coastlines of the Mediterranean or discovering hidden coves and tropical islands in the Caribbean, yacht charter allows you to tailor your yachting experience to suit your desires.

One of the key advantages of yacht charter is the wide selection of vessels available through charter companies. From sleek and luxurious motor yachts to elegant and nimble sailing yachts, there is a vessel to suit every preference and group size. Whether you’re planning an intimate escape for two or organizing a grand celebration with family and friends, you can find the perfect yacht that aligns with your style, amenities, and onboard comforts.

In addition to the flexibility in vessel choice, yacht chartering offers a practical solution for those who wish to enjoy the luxury of yachting without the long-term financial commitments associated with ownership. Instead of investing a substantial amount of capital into purchasing a yacht, you have the freedom to pay for the duration of your charter. This provides a cost-effective way to experience the joys of yachting, allowing you to indulge in the luxury and comfort of a well-appointed vessel without the burdens of ownership responsibilities.

Yacht chartering opens up a world of possibilities for those seeking an unforgettable seafaring adventure. With a wide selection of vessels, flexible duration options, and the convenience of a professional crew, yacht chartering provides a practical and accessible way to enjoy the luxury and freedom of yachting. Whether you’re a seasoned sailor or new to the world of yachts, yacht chartering offers an exciting avenue to explore breathtaking destinations and create lasting memories on the open seas.

Pros and Cons of Yacht Charter

Yacht chartering offers a multitude of benefits that make it an enticing option for those seeking a luxurious and unforgettable vacation. However, it’s important to weigh the advantages against the potential drawbacks to make an informed decision.

On the positive side, yacht charter provides unparalleled freedom and flexibility. You have the freedom to choose your desired destination and itinerary, allowing for a personalized and tailored experience. Additionally, the wide range of yacht options available ensures that you can find a vessel that meets your specific preferences in terms of size, amenities, and style. This level of customization allows for a truly unique and memorable yachting adventure.

Another advantage of yacht charter is the exceptional level of service provided by the professional crew onboard. From skilled captains navigating the waters to attentive stewards or stewardesses ensuring your comfort, the crew members are dedicated to making your journey safe, enjoyable, and stress-free. Their expertise and knowledge enhance the overall experience, allowing you to relax and indulge in the luxury of the yacht.

However, there are a few potential drawbacks to consider. First, yacht chartering can be a significant financial investment. The cost of chartering a yacht, especially high-end vessels, can be substantial. It’s crucial to carefully evaluate your budget and consider the associated expenses, such as fuel, provisioning, and gratuities, before making a decision.

Additionally, yacht chartering requires some level of planning and coordination. Booking the desired yacht and securing availability during peak seasons can be challenging. It’s advisable to plan well in advance and work closely with reputable charter companies to ensure a seamless experience.

The Appeal of Yacht Ownership

Owning a yacht holds an undeniable allure for those captivated by the sea and the luxurious lifestyle it entails. With the freedom to set sail whenever and wherever the heart desires, yacht ownership offers unparalleled opportunities for exploration and adventure.

One of the primary attractions of owning a yacht is the sense of exclusivity and personalization it affords. With a yacht of your own, you have complete control over every aspect, from the design and layout to the onboard amenities and features. You can tailor the yacht to your unique taste and preferences, creating a floating oasis that reflects your personal style and provides the utmost comfort for you and your guests.

Another enticing aspect of yacht ownership is the ability to establish a home away from home on the open waters. Your yacht becomes a private sanctuary, offering a tranquil retreat where you can escape the demands of everyday life. It allows you to disconnect from the world, immerse yourself in breathtaking surroundings, and indulge in the ultimate luxury experience.

Furthermore, yacht ownership provides unmatched flexibility and spontaneity. You have the freedom to embark on impromptu voyages, exploring secluded anchorages and remote destinations that are off the beaten path. Whether it’s a weekend getaway or an extended journey, the yacht is at your disposal, ready to whisk you away to new horizons.

However, it is important to note that yacht ownership also comes with its responsibilities. Maintenance, crew management, and operational expenses are factors that require careful consideration. However, for those with a passion for yachting, these aspects are often embraced as part of the overall ownership experience.

Financial Considerations

When it comes to yacht charter, there are important financial considerations to keep in mind. By understanding these factors, you can make informed decisions and ensure a smooth and budget-friendly yachting experience.

Firstly, the cost of yacht charter varies depending on several factors. These include the size and type of the yacht, the duration of the charter, the destination, and the time of year. Luxury motor yachts typically have higher charter rates compared to sailing yachts. Popular destinations during peak seasons may also come with higher prices. It’s essential to carefully review and compare different charter options to find the one that aligns with your budget and preferences.

In addition to the charter fee, it’s crucial to consider additional expenses. These may include fuel costs, provisioning, dockage fees, and crew gratuities. Fuel costs can be a significant factor, especially for motor yachts, as they consume more fuel during longer distances or higher speeds. Provisioning costs cover food, beverages, and any special requests during your charter. Dockage fees may apply if you choose to stay in marinas instead of anchoring. It’s customary to tip the crew at the end of the charter, typically around 10-20% of the charter fee.

To ensure transparency and avoid any surprises, it’s advisable to review the charter agreement carefully. The agreement should outline all costs and expenses involved, as well as any additional services or amenities included in the charter package. It’s also essential to consider insurance coverage, cancellation policies, and security deposits.

By considering the financial aspects of yacht charter, you can plan your budget effectively and enjoy a stress-free yachting experience without any unexpected financial burdens. Remember to compare options, review agreements, and discuss any concerns or questions with the charter company to ensure a memorable and financially sound voyage.

Financial Considerations: Charter vs. Ownership

When considering indulging in the luxury of yachting, it’s essential to weigh the financial considerations of chartering a yacht versus owning one. Both options offer distinct advantages and considerations that can significantly impact your budget and lifestyle.

Chartering a yacht provides a cost-effective way to experience the joys of yachting without the long-term financial commitments of ownership. By paying for the duration of your charter, you have the flexibility to enjoy the luxury and comfort of a well-maintained vessel without the ongoing costs of maintenance, mooring fees, insurance, and crew salaries. This can be particularly appealing if you prefer a temporary or occasional yachting experience, allowing you to allocate your resources to other priorities.

On the other hand, yacht ownership offers the benefits of long-term investment and personalized customization. By owning a yacht, you have the freedom to tailor the vessel to your preferences and create a home away from home on the water. However, it’s important to consider the substantial upfront costs associated with purchasing a yacht, including the purchase price, financing, ongoing maintenance, fuel expenses, crew salaries, insurance, and docking fees. These expenses can add up quickly and require a significant financial commitment.

Ultimately, the decision between chartering and owning a yacht depends on your individual financial situation, lifestyle preferences, and frequency of use. If you desire flexibility, variety in yacht selection, and the ability to enjoy yachting on a temporary basis, chartering can be a more cost-effective option. However, if you have a strong passion for yachting, value the long-term investment and the ability to customize your vessel, and are prepared for the ongoing financial responsibilities, ownership may be the right choice for you.

Lifestyle Implications

When considering a luxury yachting experience, it’s important to weigh the lifestyle implications of chartering versus ownership. Both options offer unique advantages and considerations that can significantly impact your yachting experience.

Chartering a yacht provides the freedom to indulge in a luxurious getaway without the long-term commitments and responsibilities of ownership. It allows you to access a wide range of vessels in various destinations, tailoring each trip to your preferences. With professional crew members onboard to take care of navigation and hospitality, you can fully immerse yourself in relaxation and enjoyment. Chartering also offers flexibility in terms of duration, allowing you to plan trips according to your schedule and desired destinations.

On the other hand, yacht ownership offers a sense of pride and exclusivity. It grants you complete control over your vessel, allowing you to customize it to your liking and enjoy unlimited access whenever you desire. However, ownership comes with significant responsibilities, such as maintenance, crew management, and operational costs. It requires a long-term commitment of time and financial resources to ensure a smooth and enjoyable yachting lifestyle.

Whether you choose chartering or ownership, both options provide access to the luxurious world of yachting. Chartering offers the freedom to explore different vessels and destinations without the long-term obligations, while ownership offers a sense of personalization and exclusivity. Assessing your lifestyle, preferences, and long-term goals will help determine the most suitable choice for your yachting adventures.

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Yacht Ownership vs. Yacht Chartering: Which is Right for You?

When it comes to experiencing the luxury of cruising on a yacht, there are two main options available: yacht ownership or yacht chartering. Yacht ownership provides the owner with full control and access to the yacht. But yacht chartering allows for a more flexible and cost-effective approach.

Did you know that the average yacht owner uses their yacht only  28 days per year , which means that the yacht sits idle for over 300 days per year on average?

Both options have their pros and cons. The choice ultimately depends on the individual’s lifestyle, budget, and preferences.

Yacht Ownership

Yacht ownership is often associated with luxury and prestige. Owning a yacht means having the ability to customize the yacht according to one’s own tastes and preferences. The owner can choose the size, layout, and amenities of the yacht to suit their needs. Also, owning a yacht provides a sense of exclusivity and privacy.

However, yacht ownership comes with a  hefty price tag . The initial cost of buying a yacht can be significant, and maintenance costs can add up quickly. Maintenance includes cleaning, repairs, fuel, and insurance, among other expenses.

Even when not in use, the yacht requires constant attention to ensure it is kept in good condition. Yacht owners are responsible for crew hiring, training, and management. This all adds another layer of expense and responsibility.

Yacht Chartering

Yacht chartering is a more affordable option for those who desire the experience of cruising on a yacht. But they want it without the high costs and responsibilities of ownership. Chartering a yacht allows individuals to choose the type, size, and duration of their yacht experience. Chartering companies offer a variety of yachts to choose from, ranging from small sailing yachts to large luxury motor yachts.

Chartering a yacht  provides a more flexible approach to cruising. Individuals can choose their destination, itinerary, and length of stay. Chartering companies offer a range of packages that can include meals, drinks, and crew services. Chartering allows individuals to experience a variety of yachts, without the long-term commitment and expenses associated with ownership.

Yet yacht chartering has its downsides as well. Unlike yacht ownership, chartering does not provide exclusivity or privacy. The yacht may be chartered by other individuals or groups. This means that the crew may not be as familiar with the specific needs and preferences of the charterer.

Also, chartering a yacht requires advanced planning and booking. The availability of desired yachts and crew may be limited during peak seasons.

Choosing An Option

Ultimately, the decision between yacht ownership and yacht chartering comes down to individual preferences and lifestyle.

For those who value exclusivity, privacy, and customization, yacht ownership may be the right choice. However, for those who desire flexibility, affordability, and variety, yacht chartering may be a better option.

Going Yachting!

Yacht ownership and yacht chartering are two viable options for experiencing the luxury of cruising on a yacht. The decision between the two comes down to the individual. It is worth considering other options such as fractional ownership and yacht sharing.

Regardless of choice, cruising on a yacht is an experience unlike any other and is sure to provide memories that last a lifetime.

Still can’t decide? Our team at Yachts Blue can guide you in your decision-making process, we specialize in both, so  please contact us now .

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Chartering Vs Buying a Boat

There are many good reasons why lovers of luxury are attracted to yachts. Alongside the comfort and absolute liberty that a private boat offers, there is also a palpable sense of adventure – you never know exactly what to expect when boating, and the experience is always a rewarding one.

The world’s rock stars, billionaires, and celebrities are keen on owning their own boats, but that doesn’t mean that this extravagant lifestyle is out of your reach – in fact, it’s more accessible than ever before.

Why Chartering Instead of Buying a Boat is a Good Idea?

Owning a boat is an expensive outlay even for high net worth individuals. It is estimated that any boat’s yearly operating costs approach 10% of the vessel’s initial value. Add in fuel costs, dockage fees, insurance premiums, maintenance, and crew salaries and you invariably arrive at an enormous total lifetime cost, even for a small boat.

However, high net worth individuals who value the boating experience quickly see that buying a boat only makes sense if they spend several months of the year on it. For the vast majority of boat enthusiasts, chartering a yacht is simply a smarter investment. Below, we’ll cover seven reasons why.

1. You Can Customize Your Boat Experience

Boats are some of the most customizable vehicles in the world. Boat builders are apt to include an extensive selection of luxurious amenities in their top-of-the-line vessels – as the Guardian points out, these can range from tennis courts to helipads and submarines. One famous super boat even has a missile defense system onboard.

However, once built, a boat is very difficult to renovate – if you want to add a particular amenity to an existing boat, you may find that it is simply unfeasible in terms of time and cost. However, chartering a boat that already has the amenities you desire is simple.

2. When Chartering, Your Boat Is Always Cutting Edge

Even the most sophisticated boat will show its age as technology marches onwards. Engines will be made obsolete by newer, more efficient designs, and computerized control systems will gain ever-greater accuracy and power – not to mention aesthetic tastes that change over time.

For instance, the famous Yacht A is almost a decade old. Its once-futuristic design offers a stark contrast with the newer boat designs defining today’s market. When chartering you will have the world’s newest – and most sophisticated – vessels.

3. Captain and Crew Included

Instead of having to hire your own crew and pay their salaries – whether you set foot on your boat or not – a boat charter lets you simply enjoy the use of your preferred boat, captain and crew included. In fact, you can customize your entire experience based off of your crew expectations.

Since luxury boat charter companies are able to leverage existing relationships with specialty crew members, you’re able to easily pick and choose additional crew services. For instance, if scuba diving is part of your vacation plan, a charter broker can add a certified diving instructor or dive master to your crew list, giving you immediate access to the skills and knowledge you need to get the most out of the diving experience.

4. Chartering Can Prepare You for Boat Ownership

Maybe you’re enough of a boating enthusiast to truly warrant buying your own boat. However, if you don’t have extensive experience boating on your own, you may not yet know exactly what type of boat best fits your needs, or what amenities you desire most.

An investment as significant as a custom boat needs to be made with great attention to detail. There is no better way to accustom yourself to different aspects of boating than by comparing the experiences that chartered boats offer. When the time comes, you’ll know exactly what your dream boat will look like.

5. Let Your Destination Dictate the Best Chartering Option

There is a boat for every occasion. If you’re a regular boating enthusiast, you know that no one boat can truly offer everything. You’ll never get the high velocity experience of an island-hopping sports boat with a 70-meter mega boat, for example.

Fortunately, chartering let you choose a vessel that best suits your holiday plans. You can charter a zippy 30-meter sports yachtsto hop between Caribbean islands in the summer and then take your whole family on a private tour of the Galapagos Islands in a spacious luxury boat that autumn.

6. Learn from Boat Experts

Relying on a reputable boat charter broker is one of the best options for people who are new to boats. Instead of going through the trouble of researching different types of boats and creating a customized itinerary, you can have your entire vacation planned for by a group of highly knowledgeable boat experts who know where the best destinations are and when the best time to visit them is.

This also gives you a great opportunity to learn about the technical features of today’s boats. Discover the exciting details from specialists who have years of experience working with them.

7. Chartering for Any Budget

If you’re interested in chartering a private boat for a vacation but aren’t in the six-figure-per-week bracket, you might be surprised to find out that plenty of great options await you. Charter brokers have vessels fit to meet any budget. If you pool resources between three couples or families – an ideal number, thanks to the abundance of boats with a three-stateroom layout – you’ll be surprised just how affordable a charter vacation can be.

Ask a Yacht Charter Broker to Book your Next Vacation Today

Contact a boat charter broker and discover just how rewarding your next vacation, corporate event, or special occasion can be with the help of a state-of-the-art vessel, captain, and crew. Seafaring vessels are plenty, and calendars are often open for week-long and 10-day charters all across the world – find the perfect boat for your destination and begin planning today.

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Yacht ownership vs. chartering: which option is right for you.

The allure of yachting is undeniable – the freedom to explore the open seas, the luxury of bespoke experiences, and the thrill of new adventures. However, when it comes to enjoying the yachting lifestyle, you have two primary options: yacht ownership or chartering. In this article, we will delve into the key differences between owning a yacht and chartering one, helping you decide which option is the perfect fit for your needs and preferences.

• Yacht Ownership: A Long-term Investment in Luxury

Owning a yacht is the ultimate symbol of success and luxury, providing you with the freedom to sail whenever and wherever you choose. Here are some advantages of yacht ownership:

a. Customization: Owning a yacht means you can design and tailor it to your exact specifications, from the layout and furnishings to the amenities on board. This ensures a truly personalized experience each time you set sail.

b. Availability: As the owner, you have unrestricted access to your yacht, allowing for spontaneous getaways and extended voyages without the need to book a charter in advance.

c. Potential Income: Yacht owners can choose to charter their vessel to offset some of the costs associated with ownership, generating a passive income stream.

However, yacht ownership also comes with its fair share of responsibilities and expenses:

a. Maintenance and Operational Costs: Owning a yacht requires regular upkeep, including maintenance, crew salaries, insurance, and mooring fees, which can add up over time.

b. Limited Flexibility: Owning a yacht means you're committed to a specific vessel, which might not suit every type of trip or destination you wish to explore.

• Chartering a Yacht: A Flexible and Hassle-free Experience

Chartering a yacht offers an alternative way to enjoy the yachting lifestyle without the long-term commitment and responsibilities of ownership. Here are some benefits of yacht chartering:

a. Flexibility: Chartering allows you to choose from a wide range of yachts and destinations, tailoring each trip to your specific needs and desires.

b. No Maintenance or Operational Costs: When chartering a yacht, you only pay for the duration of your trip, without having to worry about ongoing expenses like maintenance, insurance, or mooring fees.

c. All-Inclusive Services: A yacht charter typically includes a professional crew, ensuring that all your needs are taken care of, from navigating the vessel to providing top-notch service.

However, there are some limitations to chartering a yacht:

a. Availability: High-demand seasons and popular destinations may require booking well in advance, limiting the spontaneity of your trips.

b. Lack of Customization: While many charter yachts offer luxurious amenities, you may not find one that perfectly matches your preferences, especially when compared to a custom-built yacht.

• Factors to Consider When Choosing Between Ownership and Chartering

When deciding between yacht ownership and chartering, it's essential to consider your individual needs, preferences, and financial situation. Here are some factors to take into account:

a. Frequency of Use: How often do you plan on using the yacht? If you envision spending a significant amount of time sailing each year, ownership might be the better option. On the other hand, if you only plan on occasional trips, chartering could be more cost-effective.

b. Financial Commitment: Are you prepared for the long-term financial responsibilities associated with yacht ownership? Chartering offers a more affordable alternative without the ongoing expenses.

c. Flexibility: Do you value the ability to explore different destinations and yacht types, or are you content with a single vessel that's tailored to your needs? Chartering offers the flexibility to try new experiences, while ownership provides a consistent and 

customized environment.

d. Personalization: How important is having a yacht that's designed to your exact specifications? Yacht ownership allows for complete customization, while chartering offers a range of options, though they may not be an exact match to your preferences.

e. Investment Potential: Are you interested in generating passive income by chartering your yacht? Owning a yacht provides this opportunity, whereas chartering does not.

Both yacht ownership and chartering offer unique advantages and experiences, depending on your personal preferences, financial situation, and yachting goals. If customization, unrestricted access, and investment potential are your top priorities, yacht ownership might be the right choice for you. However, if you value flexibility, affordability, and a hassle-free experience, chartering could be the perfect way to enjoy the yachting lifestyle.

Ultimately, the decision between owning a yacht and chartering one comes down to your individual needs and preferences. Regardless of the path you choose, the world of yachting promises unforgettable adventures and unparalleled luxury.

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Gulfstream news

• February 23, 2024

Yacht Chartering vs. Ownership: Finding What’s Best for You

Introduction

Thinking about getting into yachting? It’s a great way to enjoy the sea, but there’s a big decision upfront: Should you charter a yacht or own one? This guide will help you figure out which option fits your lifestyle and preferences best.

Why Charter a Yacht?

No long-term commitments.

With chartering, you’re not tied down. Want to try a different yacht or visit new places each time? Chartering gives you that freedom without the hassle of ownership.

Easier on Your Wallet

Chartering a yacht can be more budget-friendly. You get to enjoy your time on the water without worrying about maintenance, docking fees, or crew salaries. It’s a pay-and-go deal, which can be pretty convenient.

Just Enjoy the Ride

The best part about chartering? Everything’s taken care of for you. Your job is just to relax and enjoy. No worries about maintenance or planning the trip—it’s all done for you.

Why Own a Yacht?

It’s yours.

Owning a yacht means it’s all yours. You can customize it to your heart’s content, making it a true home on the water. And it’s always ready when you are—no booking required.

Freedom to Explore

With your own yacht, you decide when and where to go. There are no restrictions on time or destination, offering a sense of freedom that’s hard to beat.

Potential to Earn

Yes, owning a yacht is a big investment, but it can also pay off. Some yachts appreciate in value over time. Plus, you can charter your yacht out when you’re not using it, making it a potential source of income.

Making the Choice

Deciding between chartering and owning comes down to what you’re looking for. If you want the freedom to explore without the commitment, chartering could be for you. But if you’re all about having a place of your own that’s ready whenever the sea calls, owning might be the way to go.

At Fly Yachts, we’re here to help you make that choice. Whether you’re looking to charter a yacht for a once-in-a-lifetime vacation or thinking about buying your own, we’ve got the expertise to guide you. Let’s make your yachting dreams a reality.

Explore a diverse  selection of yachts for sale  on Fly Yachts’  homepage . For insights into their expertise and offerings, the  About Us  page is the place to go. If you’re dreaming of customizing your own yacht, check out the  Build a Yacht  page for details on how to start. Those interested in chartering a yacht for a luxury vacation can find all the information they need on the  Yachts Charter  and  Charter Destinations  pages, including options and destinations. If airplanes are more your style, there’s also a selection of  Aircraft for Sale . Ready to sell your yacht? The  Sell Your Yacht  page explains how their team can assist. Keep up to date with the yachting world by reading  Compass Articles  and  Gulfstream News . For any inquiries, the  Contact  page makes it straightforward to reach out.

About FLY Yachts

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Charter Boat Ownership for Dummies

More and more people are buying monohulls and (mostly) catamarans and placing them into charter programs all over the globe. Placing a yacht into charter management is a good way to reduce the cost of the boat and also offset the cost of ownership. There are different types of management programs offered by the industry that I will analyze and explain to ensure that you have a good understanding of what you will be getting into if you decide to place a yacht into charter management.

The two most popular programs are the Guaranteed Income program and the Performance (aka Income Sharing  aka Variable income) program that, in all probability, are the two options that you will be presented with across the entire industry. New programs have come up recently, like shared ownership - I believe that trend will eventually pick up steam.

GUARANTEED INCOME PROGRAM

The Guaranteed program is the option offered by most of the large, well-established companies and is very popular for owners who want to have a “no hassle” ownership experience. The owner must qualify for financing which can sometimes be challenging, as most lenders can be sticky on making loans for yachts going into charter. There are, however, a few known lenders, who have certified these programs and companies, and will approve transactions with well-qualified buyers. Once the financing approval has been received, the buyer will then typically pay a 20% to 25% deposit, while the balance of 75% to 80% is due upon completion of the yacht at the factory. The deposit can vary and be as low as 10% - and as high as the buyer wishes, which will obviously facilitate the financing - of the purchase price. At closing, the ratio is usually 20% from the buyer and 80% from the finance company.   See important note about financing issues at the end of this article .

The boats are typically priced fully equipped, delivered to the charter base and ready for charter so there are no more out-of-pocket or surprise expenses for the buyer after the initial deposit. The program is structured so that after that deposit, the charter company pays for all the expenses including, insurance, dockage, maintenance and general operating expenses. The owner pays literally ZERO for the entire duration of the program. The guaranteed payment, which is made monthly, typically amounts to more or less 9% annually of the boat initial value. It is enough to cover a typical mortgage payment, making the entire proposition cash-neutral for the duration of the program. The term varies from 54 to 66 months, so the longer the term, the more guaranteed income you will receive as a whole. This is an important consideration when shopping companies or comparing programs. While the boat is in service, the owners will have exchange privileges allowing them to sail on a similar boat at any of the companies bases worldwide. While there is no charge for the actual charter, be aware that there are fees that will need to be paid, such as cleaning or turn around costs, diesel, water and ice etc, aka Turnaround fees. So familiarize yourself with the exact fee structure with various companies.

The Charter Company is totally responsible for the maintenance and upkeep of the yacht for the duration of the program.  However, this does not mean that the owner should not pay attention to it . It is strongly recommended to thoroughly check on your boat every time you are on board for a charter. Make a list of all items to be attended by the technical staff and give it to the base maintenance manager. Then follow up .

When the contract expires, then the boat is “Phased-out” and the owner must then take possession of her. Most charter companies will have a phase-out program written into the management agreement that stipulates that the boat must be handed back in good working order except for fair wear and tear . It is critical for the buyer to fully understand the obligations of the charter company with regard to the phase-out: this component will determine the condition and resale value of the boat after the owner takes possession.  The phase-out should be managed by the owner to ensure that he boat is in the best possible condition and it must involve a pre-phase out survey. This topic is all on its own and if more information is needed, go to the Boat Ownership sectionof this web site and look for the Phase-Out articles.

There are three options once the program has ended: private use, place the yacht in a second tier charter operation for another 5 years, or sell the boat. In some cases the charter company will trade the boat in, or alternatively assist the buyer to sell the boat and upgrade to a new boat back into the program. Again this is a subject that needs to be addressed on its own, contact catamaranguru.com and sailonline.com for more information.

• No maintenance or accounting involvement – hassle free ownership
• Full financial visibility until the end of program; absolutely no surprise.
• Cash neutral program – Charter Company pays all operating costs, AND THE guaranteed payment covers the mortgage.
• World wide owner exchange on similar yachts.
• No risk if the boat does not charter for whatever reason– guaranteed payment – no downside.
• Yacht undergoes extensive phase-out maintenance work at the end of program, at the charter company ‘s expense.
• No control over maintenance for the duration of the program. Maintenance is done at the discretion of the charter company.
• Fixed return. No upside if the boat charters a lot and generates a large profit.
• No tax advantages available – income is deemed passive under this program.

The benefit for the charter company with the Guarantee program is that there is no monthly accounting, just a monthly payment. The maintenance is at the companies’ discretion which negates most of owner's involvement, which can be time consuming and often problematic. The Phase out at the end of the program allows the charter company to address all outstanding issues at one time with an independent survey as guidance. The boats are all interchangeable in terms of usage or booking, and so if there is a problem on one boat, the charterer’s party can be switched at the discretion of the Charter Company. As for the owner, his/her income is contractually guaranteed no matter what, so it is of no concern to them.

PERFORMANCE PROGRAM

The Performance program is designed to be an income sharing relationship: the owner is credited for the full net charter income after booking commissions, and then the Charter Company bills the owner for services. While this program definitely yields the owner more income it requires a lot more personal involvement. Smaller companies tend to offer this program as opposed to the Guarantee program because it represents less risk or liability to them.

As with the Guaranteed program, the purchase requirements with respect to financing, down payment, yacht specification, equipment and delivery to the base are the same as stated previously.

With the Performance program, there is typically a split of the net charter income. That split usually ranges from 65% owner-35% charter company, to 80% to the owner and 20% to the Charter Company. The reality, often misunderstood by the boat buyers, is that the split is almost completely irrelevant and used as a marketing catch when it looks very favorable to the owner. Truth is, only the bottom line is relevant . That is because it is what the owner is charged for after the split  (costs of the price of services, booking commission paid to charter brokers, etc. that truly determines the bottom line and not the split formula . Some companies rely entirely on outside booking agents – in which case the commission load is high - while others have a booking office in-house with only occasional use of outside booking agents. The issue here is that the outside booking agents charge 15% to 20% commissions, which means that the owner starts with 15-20% less income per charter. Conversely, the charter company’s in-house booking office might charge less or no commission at all. Therefore, if there is an outside booking agent 100% of the time and the split is 80/20, then the owner will earn $64 on every $100. If there is no outside booking agent, and if the charter company does not charge a booking commission, with a split of 65/35 the owner will earn $65 on every $100. In that example, an 80/20 split which seems very attractive at first, becomes in fact less favorable than a 65/35 split. That is why it is very important to know and understand how the booking commissions work because they have a big impact on the final outcome. 

Similarly, because this is an income-sharing program, the owner needs to know what the costs are, and how they will be billed to him. For example: hourly labor rate, dockage and electricity costs, turn around costs, insurance or any other fixed or variable expenses the owner will be responsible to pay for. It is very important to analyze those costs to see what the actual bottom line income is projected to be. As you have seen, the split does not determine the bottom line and will be affected by many factors: So do not get blinded by this .

Generally speaking, the maintenance of a boat in a Performance program should be better because the Charter Company bills for services and the owner is involved in the management and operation of the yacht. Depending on the type of boat, configuration and location, the Performance program will yield 30% higher an income than the Guaranteed program to the owner. That is a substantial difference. Typically, there is no phase out for yachts in this program. That is because if the maintenance is being done regularly and diligently, then the yacht should be in good condition at all times, including the end of program. If there were any issues that need to be addressed, then the owner would be responsible for the expense. So the phase out notion is not applicable.

As with the Guarantee program, once the program has ended, there are three options: private use; yacht placement in a second tier charter operation for another 2 to 5 years; sell the boat. In some cases the charter company will trade the boat in or alternatively assist the buyer to sell the boat and upgrade to a new boat back into the program. Again, this is a subject that needs to be addressed on separately. You may visit catamaranguru.com for more information.

• Better ongoing maintenance – Owner is involved on a month to month basis and is billed for services – maintenance is not discretionary
• Much higher financial return with upside potential
• Owner is able to place the yacht into a Corporation/LLC for substantial tax advantages. Check with your tax advisor for what is the called the Section 179.
• Boat should generally be in better condition at end of program
• No protection from downside: if charter bookings drop, or economic conditions or airline fares become unfavorable, the owner is still responsible for all the upkeep costs.
• No owner exchange / reciprocal privileges as in the Guaranteed programs: Owner can only use own boat at her location.
• Owner has to be engaged in the operation of the vessel – it is not “hassle free” ownership configuration.

Advantages to the Charter Company are that there is no contingent liability that comes with a Guaranteed program; the financial risk is with the owner. The maintenance is entirely invoiced to the owner and there is no phase out obligation. The Charter Company generally earns less income from this program, with the owner benefitting more than in the Guarantee program, but the trade off is that the risk is shared. The owner is actively involved and the administration requirements on the Charter company side are high compared to the Guarantee program.

Conclusion : In the end, the main aspects to consider for the boat buyer are his/her risk tolerance (financial visibility vs. potential upside, similar to the difference between a bond and a stock); need for tax benefits; attraction to exchange programs between locations vs. sailing in one cruising ground; interest in involvement in the yacht management vs. hassle-free experience.

FUNDAMENTAL FINANCIAL CONSIDERATIONS

There is a very important element is to be considered, and most charter companies’ sale staff do not often highlight it. You’ll see why. It goes like this: any loan with a 80% financing (the usual configuration) paired with a maturity higher than 10 to 12 years MAX, i s guaranteed to put the buyer significantly upside down at the end of the charter program , simply by virtue of the typical charter boat depreciation and boat value on the second-hand market. In other words, the typical charter boat depreciation and value on the second-hand market ends up being less than the loan payoff amount. 

Regardless of the buyer’s plans after the end of the management program, it is not a situation anyone wants to be in. Consider this: it’s the end of the management program. You thought, 5 years ago, that you would keep the boat for private use. However, your life circumstances have changed (5 years is a long time) and you are now forced to sell your boat. You’re upside down by $50K. in relation to the real resale value of your boat.  Sounds familiar – remember the real estate disaster in 2009? This is not a hypothetical situation. We see it often and it can be a precarious situation. The reason many sales people do not mention this is because a 5-year financial proforma on any boat, paired with a 15 or 20 year-mortgage looks significantly better than one with a 10-year mortgage, in regard to the monthly and annual cash flow. We think it is borderline deceiving and potentially dangerous.

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5 Monetary Advantages of Chartering vs. Buying a Yacht

The benefits of chartering a yacht far outweigh the advantages of yacht ownership when you consider the costs and obligations associated with purchasing one. Owning a yacht is an expensive and often fruitless investment that only makes sense if you spend several months a year on the water. Let’s look at 5 monetary advantages of chartering a yacht versus buying one.

1. The captain and the crew are included in the price

2. pay only for what you want, 3. chartering prepares you for yacht ownership, 4. chartering is a better investment, 5. chartering is more budget-friendly than buying, what is the true cost of owning a boat.

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Sailing Yacht Charter vs. Owning: Pros and Cons

Table Of Contents

The freedom of setting sail: weighing the options.

Setting sail on the open sea has always held a certain allure and sense of freedom. The idea of navigating the waves, feeling the wind in your hair, and exploring new destinations is undeniably exciting. However, when it comes to setting sail, there are several options to consider. The decision between chartering a sailing yacht or owning one yourself can be a difficult one. On one hand, chartering a sailing yacht allows for flexibility and variety. You have the freedom to choose different vessels for each trip and can explore a wide range of destinations. It also eliminates the responsibilities that come with owning a yacht, such as maintenance and storage. However, chartering can be quite expensive, especially if you plan to sail frequently. It also means that you are not able to personalize the yacht to your own preferences, as you would if you owned it.

Exploring the High Seas: Comparing Sailing Yacht Charter and Ownership

Exploring the High Seas: Comparing Sailing Yacht Charter and Ownership When it comes to exploring the high seas and embracing the freedom of sailing, there are two main options to consider: chartering a sailing yacht or owning one. Both options offer unique advantages and drawbacks that must be weighed before making a decision. Sailing yacht chartering allows individuals to experience the thrill of sailing without the burden of ownership. With a charter, you can select the type and size of yacht that suits your needs, whether it's a sleek racing yacht or a spacious cruising vessel. Chartering also provides the flexibility to explore different locations and sail for a specific period of time, making it an attractive choice for those who want to try out different sailing destinations and experiences. Additionally, chartering eliminates the responsibilities associated with yacht maintenance and ongoing costs, providing a more carefree and less time-consuming option for avid sailors.

Making Waves: Evaluating the Advantages and Disadvantages

One of the main advantages of yacht ownership is the freedom to have complete control over your vessel. As an owner, you have the ability to customize and personalize your yacht to your liking, making it a true reflection of your taste and style. You can choose the layout, the interior design, the amenities, and the overall look and feel of the yacht. This sense of ownership and personal touch can bring a great deal of pride and satisfaction. However, yacht ownership also comes with a fair share of disadvantages. Firstly, it is an expensive endeavor. The initial cost of purchasing a yacht can be significant, but it doesn't stop there. Maintenance, repairs, and other ongoing expenses can quickly add up. Additionally, owning a yacht requires a lot of time and commitment. From handling administrative tasks like insurance and permits to ensuring that the yacht is properly maintained and ready for use, being an owner requires a considerable investment of time and effort.

The Allure of Chartering: Is it the Right Choice for You?

Experiencing the freedom of setting sail on the open seas is an enticing notion for many. The allure of chartering a sailing yacht offers a unique opportunity to embark on a thrilling adventure without the commitment of ownership. Whether you are seeking a luxurious getaway or a thrilling expedition, chartering allows you to tailor your experience to your specific desires. One of the key advantages of chartering a sailing yacht is the flexibility it provides. Unlike owning a yacht, which requires ongoing maintenance, chartering allows you to enjoy the thrill of sailing without the responsibility of upkeep. Additionally, chartering grants you the freedom to explore various destinations, from serene tropical islands to bustling harbors, as you have the option to choose different locations for each trip. Whether you desire a relaxing escape or an exhilarating journey, chartering a sailing yacht allows you to embark on the perfect vacation tailored to your preferences.

Navigating the Decision: Chartering vs. Owning

Chartering a sailing yacht and owning one are two distinct options that require careful consideration and evaluation. Both choices offer unique advantages and disadvantages that can significantly impact the sailing experience. When navigating the decision of chartering versus owning, it is crucial to weigh various factors, including financial commitment, flexibility, maintenance responsibilities, and long-term goals. On one hand, chartering a sailing yacht allows individuals to enjoy the thrill of sailing without the long-term financial commitment that comes with ownership. Chartering offers the freedom to explore different destinations and experience a range of yachts, offering variety and flexibility. Additionally, maintenance and repair costs are typically the responsibility of the charter company, relieving individuals of the burdensome tasks associated with owning a vessel. However, chartering can be more expensive in the long run, as the costs of repeated charters can accumulate over time. On the other hand, owning a sailing yacht provides a sense of pride, ownership, and the ability to customize the vessel to personal preferences. It offers the opportunity for unlimited access to sail at any time and explore destinations at leisure. While maintenance and repairs are the owner's responsibility, owning a yacht allows for a deeper connection and familiarity with the vessel. However, owning a yacht comes with significant financial investments, including purchase price, insurance, docking fees, and ongoing maintenance costs. It also requires a higher level of commitment in terms of time and energy for upkeep and storage.

Sailing into Adventure: Considering the Benefits and Drawbacks

Sailing into adventure comes with its own set of benefits and drawbacks. On the positive side, chartering a sailing yacht allows for the freedom to explore a variety of destinations without the commitment of owning a boat. It offers flexibility in terms of duration and location, allowing adventurers to experience different sailing routes and regions. Chartering also eliminates the hassle of boat maintenance and upkeep, as these responsibilities are usually taken care of by the charter company. Additionally, chartering provides access to a wide range of luxurious amenities and professional crew members who can ensure a comfortable and enjoyable sailing experience. However, there are also some drawbacks to consider. The cost of chartering a sailing yacht can be quite high, especially during peak seasons or for larger, more luxurious vessels. Additionally, availability can be a challenge, as popular destinations and coveted yacht models tend to get booked in advance. While chartering offers the option to customize the sailing itinerary, it is still subject to weather conditions and other external factors that may impact the planned route. Furthermore, chartering a yacht means that you do not have complete control over the vessel, as you are bound by the rules and policies set by the charter company. It is essential to weigh the benefits and drawbacks carefully before deciding if chartering is the right choice for your sailing adventure.

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Can Owning a Yacht to Charter (Really) Be Profitable?

When contemplating the possibility of investing in a luxury yacht, questions often arise as to what kind of return an owner can expect on their investment beyond a fun and exciting experience out on the open water.

In this article, we’ll answer the question whether or not a regular yacht owner can rent it out and expect to make a profit out of it.

What Yacht Owners Need to Know Before Entering the Charter Business

Owning a yacht and chartering it are two completely different things. If you don’t own a yacht yet, the issue is even worse. Here are some valuable reminders.

Owning a yacht (for a charter business or not) comes with a hefty price tag.

The initial cost of purchasing a yacht is high, and it is just the beginning. One must also take into account the maintenance and operation costs that come with owning a yacht. The operation costs include the cost of fuel, mooring fees, crew salary, communication expenses, yacht insurance, and P&I. These costs alone can quickly add up and make up a significant portion of the expenses associated with owning a yacht.

On top of the operation costs, one must also consider the maintenance cost. Keeping a yacht in top shape requires a considerable investment in shipyard costs, replacing broken parts, painting, and regular cleaning. Ongoing maintenance is essential to keep the yacht seaworthy and in excellent condition.

To know more, read: How much does it really cost to own a yacht?

Chartering yachts is a regular (and regulated) business

Before investing into a yacht and charter it, it is crucial to thoroughly research the regulations and requirements for operating a charter business in your specific location.

This may involve obtaining various licenses and certifications, as well as adhering to safety and liability standards. You’ll also need to carefully consider your target market, pricing strategies, and marketing efforts.

Building strong relationships with brokers and other industry professionals is also the difference between a profitable yacht charter venture and one that follows the sunk costs fallacy.

So, although entering the charter business can seem profitable and easy at first glance, it does requires careful planning and a commitment to even get started.

Yacht charters services are far from being the passive income you may have in mind

To an outsider, chartering a yacht can almost seem like a good passive income source. But it is rarely the case.

A yacht charter is a service that involves a lot of work if you intend to do it yourself: hiring a crew, doing the maintenance of your yacht, preparing food & beverage, getting moorings… the list of tasks can be very long. If you are not from the industry or if you intend to rent your yacht as a side hustle, you will quickly realize why people use the services of yacht brokers !

What makes chartering your yacht profitably challenging

While owning a yacht available for charter can be an exciting venture, there are several drawbacks to consider. These include:

The financial burden of a yacht for charter is serious

As we mentioned before, owning a yacht is a significant financial commitment. The initial purchase cost, along with ongoing expenses such as maintenance, crew salaries, insurance, and berthing fees, can be substantial.

If the yacht does not generate enough charter bookings, it may become a financial burden rather than a profitable investment.

Charter Demand and Seasonality can break your profitability

The demand for yacht charters can be seasonal and location-dependent. If your yacht is based in an area with limited charter seasons or faces high competition during peak times, it may be challenging to secure enough bookings to cover the costs.

This can result in periods of low or no income.

Wear and Tear from constant charters can ramp up maintenance costs

Chartering your yacht means it will be used by different groups of guests. This can lead to increased wear and tear on the yacht’s interior, equipment, and systems. Regular maintenance and repairs are necessary to keep the yacht in good condition, which can add to your expenses.

Using your own yacht personnally automatically decreases your income potential

When your yacht is available for charter, it may limit your personal use of the vessel. Popular charter periods may coincide with times when you would like to enjoy the yacht privately. Balancing personal use and charter bookings can be a challenge, especially if you have high expectations for personal enjoyment.

Alternatively, every time you use your yacht, it’s a yacht charter income revenue that is automatically lost.

You need guest Satisfaction to have bookings

As a yacht owner offering charters, guest satisfaction becomes crucial. Ensuring a positive charter experience requires careful management, including hiring and training competent crew, maintaining high standards of service, and addressing any guest concerns or issues promptly. Meeting guest expectations can be demanding and time-consuming.

Regulatory and Legal aspects can hinder your cashflow

Operating a yacht for charter involves complying with various regulations and legal requirements. These can include safety inspections, licensing, tax obligations, and compliance with local maritime laws. Staying updated and compliant with these regulations can be complex and may require professional assistance.

The yacht charter market is volatile

The yacht charter market can be influenced by economic fluctuations and changes in consumer preferences. Economic downturns or shifts in travel trends can impact the demand for luxury yacht charters. It is essential to monitor market conditions and adapt your charter business accordingly.

It is crucial to carefully evaluate these drawbacks against your personal goals and financial capabilities before deciding to own a yacht available for charter. Conducting thorough market research, seeking professional advice, and creating a comprehensive business plan can help miti

Who can reasonably expect to make money by chartering their yacht?

Not everybody can be profitable chartering their own yacht, or having a fleet of yachts for rent.

Most people that rent their own yacht without a professional broker by their side aren’t actually making money, even though their little side hustle can help them finance their hobby.

Being constantly profitable chartering your yacht involves a lot of work combined with the appropriate vessel in the right location, and some experts to market it and manage it. Only then one can reasonably expect to see extra cashflow.

How you can optimise the Return on Investment (ROI) of a Yacht for Charter

Considering numerous factors, the return on investment (ROI) of a yacht for charter can significantly vary. Just keep in mind that while some yacht owners can generate profitable returns, the vast majority of yachts may experience lower or even negative ROI.

If you don’t have a yacht yet, conduct a serious market research

In most business, market research is one of the key to success. Yacht charter is not an exception. If you already have your own yacht, your options are naturally limited. However, if you are new to yachting and are simply contemplating the idea of buying a yacht with the plan to rent it out to break even or be profitable, then seriously study your market.

Better yet, get the help of a professionnal broker that might have all the insiders tips you need before making a big mistake and kill your potential ROI forever.

Have your yacht for charter in popular areas where there is demand

The ROI largely depends upon the level of demand and popularity of yacht charters in specific locations. Popular destinations with high demand, such as Mediterranean or the Caribbean can provide better opportunities for a higher ROI. But, due to the competition among yacht owners, the pricing and occupancy rates might be impacted.

Have appropriate charter prices to ensure a good occupancy rate

Rental rates significantly contribute to deciding the ROI of a yacht. Higher rates may result in a favorable ROI only if the yacht is consistent in securing more bookings throughout the charter season. The ability to attract clients is important to maximize returns: an empty boat costs money and doesn’t generate income.

Operating Costs and Expenses must be effective

The costs of fleet management including crew salaries, maintenance and repair, insurance, fuel, provisioning, marketing, and administrative expenses have a direct impact on the ROI. Effective management of these costs can non only help you to break-even, but also hopefully to generate real profits.

Carefully choose your type of yacht (and size) to ensure profitability

The size and type of yacht directly influence its charter appeal and ROI. Larger, more luxurious yachts typically command higher charter rates, attracting high-end clientele and potentially generating better ROI. However, larger yachts may also have higher operating and maintenance costs, and they can be harder to fill.

Your yachts always need to be kept in good condition

Nobody want to charter a yacht that looks beaten up and dangerous.

The condition and age of the yacht are the key factors that affect its charter appeal and subsequent rental rates. Well-maintained yachts in excellent condition are highly likely to receive more bookings and generate higher rental rates, thereby maximizing the ROI. 

Older yachts may require frequent repairs and renovations, which can influence profitability.

Management and Marketing are key to rent our your yacht, just like any other business

Implementing effective management and marketing strategies to increase client bookings, occupancy rates, and optimizing charter pricing can significantly influence the ROI.

Working with a professional yacht management company or charter broker can help attract clients and maximize the ROI.

What are the costs involved in offering a yacht for charter ?

When offering a yacht for charter, there are several costs involved that will naturally have to be lower than your total charter income in order to make sure your venture remains profitable .

These costs can vary depending on various factors such as the size and type of the yacht, the charter location, the duration of the charter, and the services provided. Here are some common costs to consider:

• Yacht Acquisition or Ownership Costs: Flag registration. As some yacht flag can be more advantageous than others for tax purposes, but also for the diploma your crew will require to navigate the yacht.
• Crew Costs : The crew is essential for operating the yacht and providing a high-quality charter experience. Crew costs typically include salaries, training, uniforms. The crew size will depend on the size and type of the yacht.
• Fuel and Dockage: Fuel costs can be significant, especially for larger yachts. Dockage fees also need to be considered, as yachts often require berthing in marinas or ports in between charters and winterizing.
• Maintenance and Repairs: Yachts require regular maintenance and occasional repairs to ensure they are in optimal condition for charters. These costs can include engine maintenance, hull cleaning, system servicing, and cosmetic repairs.
• Insurance: Yachts need comprehensive insurance coverage for protection against potential risks such as accidents, damage, theft, and liability. The cost of insurance can vary depending on the yacht’s value, size, and cruising area.
• Marketing and Brokerage Fees: To attract charter clients, marketing efforts are necessary. This may involve creating a website, advertising, attending boat shows, and working with charter brokers. Brokerage fees are also applicable if you choose to work with charter brokers to promote and book charters on your behalf.
• Ancillary Services: Additional services such as water toys, scuba diving equipment, entertainment systems, internet connectivity, and crew uniforms may incur additional costs. These extras can enhance the charter experience and attract more clients.

It’s important to note that the actual costs can vary significantly depending on the specifics of your yacht and the charter operation. Working with a professional yacht management company or charter broker can provide valuable insights and help you estimate these costs more accurately. Contact our team to get more details.

Read also : The yacht charter experience ladder

Read also : FRACTIONAL YACHT OWNERSHIP EVERYTHING YOU NEED TO KNO W

The Best Alternative to Reduce the Cost of Yacht Ownership: Fractional Ownership

Fractional ownership of a yacht is when an individual invests in only part of the yacht. This means there are comparatively more funds to spare for just a part of the yacht. So, the cost of owning and keeping a yacht in great condition is considerably reduced.

There are yacht chartering companies like the WI Yacht that allow individuals to own part of a yacht for some time during the year. This way, the cost of ownership is significantly less, but you do get the privilege of being a yacht owner.

Real also : Fractionnal yacht ownership : everythings you need to know

Key Takeaways on Owning a Yacht to Charter

Renting out profitably a yacht that you own is largely dependent upon having the right boat in the right location, the right plan, and in most cases the right broker by your side.

Knowing exactly what to expect before taking on this type of venture is essential as there is a certain level of risk involved when entering the yacht charter market, especially considering the costs involved in simply maintaining a yacht afloat.

Can every yacht owner be profitable by chartering their own yacht? No, but it can certainly decrease the overall cost of ownership.

And with the right set of conditions and a professional broker, some owners might even make a successful business out of it almost passively.

Get in touch with us if you own a yacht that you’d like to charter.

Frequently Asked Questions

Yachts from know shipyard are usually the most profitable for chartering. The key is a professional crew and a good central agent for your marketing.

Chartering a superyacht just offsets the costs. Majority of superyachts offered for charter earn money to offset expenses, they do not earn a profit.

If done in strategic areas and times of the year, chartering your own yacht can be extremely lucrative. An individual can make up to one hundred thousand or more in a single month. The key is to buy cheap, second-hand even, and then refurbish your boat.

Usually, banks offer loans for buying a yacht if you have a strong initial payment. There are personal loans available that people can use for such investments, but they come with higher rates of interest.

The standard rate of commission to the yacht charter company per yacht is 15%. This amount can increase or decrease, but just a little.

The income obtained from renting (or chartering) a yacht can sometimes cover all expenses incurred, but not always. So, owning a yacht for free by renting it out is possible, but not guaranteed.

The most popular yacht charter destinations are the United States of America, British Virgin Islands, the Bahamas, French Riviera & Monaco, Amalfi Coast, Croatia, and Greece.

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Yacht Ownership vs Charter: What’s Best for You?

By Martha Young

Updated on September 25, 2023

The yachting world is divided into two types of people; owners and charterers. Both encounter specific benefits and drawbacks in their day-to-day yachting lives. But which lifestyle is right for you? Read about the differences between owning and chartering, and pick your side!

Both owning and chartering affords you access to some of the world’s most exclusive, incredible yachts. However, there is no doubt that ownership brings a higher level of customisation. Your yacht belongs to you and you alone, so every aspect of it can be made to suit your taste. On picking your yacht , you can take your time talking to multiple yacht brokerages to find the style of yacht that best suits your personality and needs. Decide between incredible new builds where everything is designed to your preference, modern yachts which are already in perfect condition, or older models which you can put love and care into refitting.

Once you have chosen from the vast selection of superyachts for sale , every onboard decision comes down to you. Want to install a new cinema room below deck, build a thermal spa suite or extend a grand dining room to host 20 guests? There’s no-one stopping you; in fact, your crew will be at your beck and call to help you arrange it.

With a charter you never have the luxury of knowing that the vessel has been bespokely crafted for you. However, it does offer a good chance to try out a range of boats and work out what you like, often as a precursor to buying later on. Go between motor and sailing, sleek superyachts and older, classic boats, without having to commit to one specific vessel. Charter can be great when you start out, but generally, by the time you have chartered quite a few times, you have a good idea of what you want.

What’s more, although there are some amazing charter yachts out there, they can be lower quality due to the fact that some owners don’t plan to use the vessels themselves, and so decorate them to a lesser standard. For example, they may try to squeeze an extra room in to the vessel so that it will charter for more money, knowing that this lack of space would be less of an issue for short-term guests, or fail to install the latest modcons. This generalisation does not apply to across the board, however owning a yacht is the only way to ensure you get the best of the best.

The Freedom

This really depends what kind of freedom you want. Ownership means no compromises with how and when you go out on the yacht. From the moment you sign the deal with your yacht brokerage, your boat will always be in the cruising location that suits you. You can step onboard wherever and whenever you like and be whisked away to your next dream destination by a Captain and crew who know your exact preferences. You have a permanent holiday home to which you can escape whenever you please. You can travel to any region of the world at the drop of a hat, without having to worry about sticking to charter itineraries or disrupting other guests’ plans.

When chartering you can be restricted to specific dates and regions, especially during the busy summer season when availability is limited. Yet you are free to travel onboard a beautiful yacht without having to worry about any of the maintenance that goes on when you step off deck. Running a boat is a laborious and ongoing process, which should be made clear to you during the luxury yacht sales process. Many people prefer to simply dip into the yachting lifestyle for the most fun parts. It can also be freeing to have your yachting holiday planned for you, especially if you are unsure about the best spots to visit. This really comes down to what type of person you are, and how you think about yachts.

The Investment

Luxury yacht sales brokers often say that purchasing a boat should not be a financial decision. If you are considering buying a yacht, the primary reason should be your love of yachting, as there is no guarantee that your boat will be a good financial investment. However, this isn’t to say that it never will be.

After all, unlike cars and more conventional vessels, luxury yachts do not always automatically depreciate in value. Some manufacturers and models stay in higher demand than others due to the known quality of the brand, and the reputation of the designer and/or naval architect. You can contact a skilled yacht brokerage for advice as to which boats are likely to hold their value. However, this lasting worth will also depend on how well you keep the boat maintained.

Of course, once you own a vessel you have the option of chartering it out when you don’t want to use it, which can be a good way of making money from your purchase. But in general, the best return on your investment will the increase in quality time spent with family and friends, creating memories that will last a lifetime.

On the other hand, chartering means no investing in something that likely won’t bring you any financial gain. You are paying a premium for each yacht experience, but there is no need to worry about the cost of continuous maintenance, paying crew salaries or the multitude of other fees that come associated with owning your own yacht. Then again, you will never have anything tangible to show for our money spent on yachting, or a vessel you can be proud of for having kept shipshape over the years. In this case, it depends on whether you would rather partake in a risky investment, or no investment at all.

About Martha Young

Martha has been writing about all things fashion and beauty for as long as she can remember. She's turned this passion into a profession, working as a freelance writer for four years now, and adding a personal touch to her work with the unique insights gained from her vast travel experiences. Learn more about Luxatic's Editorial Process .

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Chartering vs owning a boat

Most people would love to own a boat, but they can be quite expensive. Some boats can, however, offer a touch of luxury that most people can actually afford, so should you consider chartering or owning one? Chartering a boat can be almost as rewarding as owning one, but then you are not always guaranteed to get the precise boat you want, so what can you do? Do you buy a boat and hope you can take it out enough to get your money’s worth, or do you charter one and dream that one day it will be yours?

Source: Fraser Yachts

There are benefits to owning a boat, and chartering one so here we take a look at the pros and cons of chartering vs. owning, and be that little bit closer to making the right decision for you:

The Pros & Cons:

• The pros of renting

One of the most obvious pros of renting a boat is that you don’t have to pay a lot of money for it. You can simply pay the chartering fee, and the deposit, without it breaking the bank.

Another benefit of renting is if you’re new to boating, you can try your hand at sailing before you commit to buying a boat. If you find that boating is not for you, at least you don’t have a boat worth hundreds of thousands of dollars to sell.

• The pros of owning

One of the pros of owning a boat is the pride and satisfaction that comes with it. A boat that you own outright belongs to you, and you can ultimately do with it as you please. This means you may not be limited to where you take your boat, or how many people that sail with you.

Your boat will be ready and available when you want to head out onto the water. This is one of the best things about owning a boat: if you want to set sail, you can. There are no limits (Weather permitting), meaning if you have a long weekend off, you can head on out, without having to hope there might be a boat to spare.

Source: pexels.com/@andre-furtado

• The cons of renting

One of the downsides of renting a boat is that you may end up paying more for it in the long run. This is because boat charter charges can add up, but this may be a risk that you’re willing to take.

•  The cons of owning

You have to take all of your gear with you, whether it’s fishing equipment, or skis, plus all of your food, clothes, and anything else that you want to take away with you. This could potentially make transporting your things to your boat quite a cumbersome affair.

As you can see, there are some good reasons why you should buy a boat and some equally good reasons why you should charter one instead. Think about how many times you’re going to use a boat, how much you can afford to pay for one, and then weigh up the pros and cons, so you make the right decision.

Book2Sail™ © 2024 All Rights Reserved - Book2Sail and the Book2Sail logo are registered trademarks of SAS Marine Services Ltd. in Malta

Charter Ownership vs. Private Ownership: How to Decide

No matter how you want to own a yacht-- there is a type of ownership for anyone. Owning a yacht in a charter fleet is one viable option and owning a yacht privately has its advantages too. If you have owned a boat before, what were the most rewarding things and what were the biggest obstacles? Throughout the duration of this article we will discuss the pros and cons of the various types of yacht ownership.

Maintenance and Care 

Do you enjoy boat projects, boat maintenance and caring for your yacht? Or, do you prefer to have your boat cared for and looked after by a group of professionals?

If you enjoy getting your hands dirty, private ownership could be your chosen path. Boats require a lot of monthly maintenance including cleaning water strainers, changing the oil, engine checks, checking oil and fuel filters, checking for corrosion, replacing gaskets, cleaning bilges and pumps and bottom cleaning. Just to name a few. If learning the in's and outs of owning a yacht and handling these things yourself is what you are looking for, you should consider owning privately. 

If having someone manage the maintenance and cleaning is more your style, then perhaps owning a charter yacht is the right choice for you. As a charter yacht owner, all of the maintenance is handled by a team of experts, including all of your monthly and annual maintenance-- bottom cleaning, engines checks, haul outs, etc. Your yacht will also be in pristine condition every time you arrive to it. Each time you use your yacht, you will make a list of any issues that arise, and all of those concerns will be addressed by the maintenance team at the base upon your return to the marina. You will also receive maintenance reports so that you can rest assured the work is being complete. 

Travel Goals

Do you want to take your yacht sailing across the Atlantic Ocean? Or would you prefer to fly across the Atlantic and take out a yacht in the Mediterranean or the Seychelles or any of the other 20 destinations that you can charter out of with The Moorings? 

Moorings Owners have the distinct luxury of not only chartering their own boat, but they can also charter sister ships at any of our worldwide destinations. Moorings Owners can cover more world-class cruising grounds in one year than it would take a private boat owner to cover in 5 years. This is taking into considering the private owner must sail the boat to each destination around the world. 

Level of Experience

Maybe you are a confident sailor, but as every sailor knows, you can always be better. Perhaps one day you dream of becoming a full time live-aboard sailor, but you would really like some more sailing experience first. Owning a charter yacht provides the opportunity for boat owners to spend time in cruising grounds that are friendly to qualified but wanting to learn more sailors. Have a day skipper join to familiarize yourself with the area, or hire a skipper for the whole trip to learn something new. Because our owners can charter other yachts of similar size in the fleet, take the opportunity to try out a few different yachts for size to determine the perfect yacht for you.

After 5 - 6 years in the charter fleet, you are no doubt going to be a more seasoned sailor. After your yacht is phased out of the charter fleet and if you've gained the confidence you need, you can take your yacht on longer, more challenging passages. 

While you can make some challenging passages as a Moorings Owner, you certainly will not be sailing from Bermuda to the Azores. And if this is what you desire to do the moment you buy a boat, then private ownership might not be your chosen path. Or, buy a charter ownership yacht, make guaranteed income for 5 years while sailing your boat and sister ships around the world, then take your boat anywhere in the world after she phases out of the charter fleet. 

Using the Yacht

To maintain a positive level of satisfaction in life, every sailor has an internal clock of how long they can go without being on the water. Some people must live on a yacht because they can't stand life on land. Alternatively, some people can get by if they can spend one week a year sailing somewhere stunning. Or maybe you fall somewhere in between. If up 12 weeks a year on the water will satisfy you, then maybe owning a yacht through an ownership program is right for you. Don't have time for 12 weeks a year? That's okay, you can sell some of your owner's time. Alternatively, if you have very specific requirements and can't use short notice bookings, and prefer to go during high season, then your owner's time will not be a full the 12 weeks.  Follow this link for more information on owner's use. 

Affordability

Another factor that plays a role in owning a yacht is deciding what you can afford to buy. Sure, we would all love to have a beautiful new cruising catamaran under full warranty. But the reality is that for everyone, this is simply not possible. 

If you wish to own a new or used yacht, only to be sailed by you, then private ownership could be the right thing for you. If you wish to own a new yacht but would like to generate income at the same time to offset the cost of your new yacht, then charter yacht ownership could be the right thing for you. Owners in The Moorings Yacht Ownership Program receive a guaranteed income payment everything month-- no matter what-- that is worth more than the mortgage payment on their boat every month (based on 25% down). 

No matter what type of format you choose to own a yacht, at the end of the day we just want to see you out on the water! If you do feel that charter ownership is the right option for you, then look no further than The Moorings. Often imitated, we are the team who invented and perfected the yacht ownership program over 50 years ago.

Katie Campbell

Chartering Your Own Yacht - The Complete Guide

Thinking about whether you should charter your yacht here's everything you should know about it..

Buying a yacht for private use is a great investment - in your future adventures, in your new lifestyle, in your mental and physical well-being. You get to explore the unexplored, spend quality time with your friends and family, or party like a celebrity. It's an experience of a lifetime and a dream come true for many.

However, even though you try your best to maximize your time on board, there are still weeks or even months when the boat’s unused and the crew ‘underutilized’. When your boat is just sitting in the marina, it’s just costing you money. 

That’s why you should consider putting your yacht in a charter fleet. It can not only offset your expenses but even generate profit. Most importantly, it guarantees that your yacht is fully maintenanced and in top shape for when you decide to set sail on another vacation.

Chartering your own yacht is a great way to earn money off your investment. (Image source: Shutterstock)

The benefits of chartering your yacht

Chartering your yacht is a great strategy for making some money off your yacht when you’re not using it. But there are also a number of other advantages - here are the main ones:

Reduced operational costs & additional income

A busy charter yacht can cover a significant portion of your operating expenses such as dockage, maintenance, insurance, and other incidentals. Additionally, charter yacht ownership produces an income that you otherwise as a private owner wouldn’t have, providing a faster return on the investment.

Increased yacht reputation and value

A yacht that is marketed for charter has a better market profile. On top of that, If the yacht is active and has a proven success record of providing high quality experience to its clients, it will attract both charter guests and potential buyers in the future. In the long run, chartering is a sound strategy for increasing your boat’s value which would otherwise depreciate with time.​

The yacht stays in top-notch condition 

It may sound counterintuitive but yachts that are part of the charter fleet are usually more regularly and better maintained. Frequent cosmetic and mechanical maintenance that chartering requires can extend the life of your yacht and preserve its resale value.

More experienced boat crew

Charter yachts attract the best caliber of crew that will maintain their service at the highest industry standard. That also means you can enjoy the same quality of service whenever you decide to use it for personal plans.

Charter yachts require frequent maintenance. An experienced yacht crew will keep the yacht in top-notch condition. (Image source: Shutterstock)

Earnings and expenses

As a yacht owner, you can definitely earn a profit by chartering your yacht and offset your costs. Here’s the breakdown:

The price of the charter depends on the market, the size, model, condition of your boat, the number of cabins, etc. The expenses which you must take into account as the boat owner include: 

• registration
• ship maintenance
• crew salaries
• charter equipment (water toys, bed linen, towels, shampoos, etc.)
• professional photography 

Charter yachts which provide a wide selection of water toys are often booked better.   (Image source: Shutterstock)

Even though there are many factors that influence the boat price, we at Magnum always try to set a competitive price that’ll make you stand out on the yacht charter market.  See the prices for the luxury yachts in our fleet here.

How many weeks can I charter my yacht?

For luxury yachts, you can expect your yacht to be booked for a minimum of 6-12 weeks a year, depending on the season.

The average number of weeks is higher for chartering sailboats and catamarans, usually about 14-20 weeks.

What to expect of a yacht charter management company? 

With the right agency for yacht charter management , you can reap all the benefits of chartering your own yacht - offset operational costs, keep your crew sharp and your boat in top shape, as well as build a brand reputation. 

The role of such a company is to provide consulting, support and help you achieve maximum booking through thoughtful promotion. 

Here’s how that works in the example of Magnum:

Once a yacht owner decides to partner with our agency, we both sign the Central Booking Agreement. It states the rights and obligations of the owner, as well as the rights and obligations of us as a central agency. In it we also define the price list according to which the charter service for a particular vessel will be charged. 

The agreement can be signed for a definite period (1 year) or for an indefinite period and can be terminated via written notice (from either party).

Bookings, promotion & payments

Once we sign the Central Booking Agreement with the boat owner, we focus all our efforts on promotion and positioning the boat on the market. It takes some time for the yacht to become "recognized" on the market but since we have access to a large global booking system through which we receive inquiries (YACHTFOLIO), this process doesn’t take too long.

A central agency for yacht charter management will help you to achieve more bookings through top yacht promotion. (Image source: Shutterstock) 

After receiving an inquiry from a potential client, we send them a detailed offer with the price and presentation materials (brochure, crew profile, etc.), to give them a complete and better impression of the yacht. If the client confirms the booking, we sign the MYBA contract. The contract is signed by all the parties involved in the booking process - the client (charterer), broker, stakeholder and the yacht owner. 

Payment to the yacht owner is made in such a way that half of the amount to be paid to the owner is paid on the day of the boarding, and the remaining amount on the day of unloading (or the first working day, if unloading day is during the weekend).

The responsibilities of the yacht owner 

If you decide to charter your yacht, here’s what’s expected of you as the owner:

• During the term of the Central Booking Agreement, the yacht owner is not allowed to enter a business partnership with another yacht charter agency and is obliged to refer all agents who may contact him to his central agent.   
• The yacht owner mustn’t promote his yacht independently or without the consent of his central agent.  
• The owner must deliver professional photographs of the boat to the agency.   
• The owner is obliged to invoice his charters in accordance with the regulations of the Republic of Croatia.  
• The yacht owner is obliged to ensure the registration of the vessel and to have valid insurance policies.  
• The yacht owner must provide other documentation and take actions that precede the provision of accommodation services on board.  
• The yacht owner is obliged to provide an adequate crew in accordance with the size of the boat and the uniforms for all crew members.  
• The yacht owner is obliged to sign the charter agreements on time and report any problems or delays to the agency as soon as possible.  
• The boat must be adequately prepared for chartering - that includes cleaning, equipment procurement, as well as accommodation, uniforms & training for the crew members.  
• The yacht owner must have a registered company and be able to issue invoices.  

Why choose Magnum as your yacht charter management company?

Since we were founded in 2004, we’ve been recognized as one of the most highly qualified yacht charter companies in Croatia, with the fastest-growing fleet in the country. As members of the Mediterranean Yacht Broker Association, we maintain our business at the highest standards of professionalism and ethics. 

We are well established in the yachting community: our agency is a YACHTFOLIO subscriber and collaborates with a large number of both global and local clients, as well as partner agencies.

Our team of experts have the know-how and the experience to ensure that your yacht reaches its full charter potential - that means maximizing the number of bookings and subsequently, revenue. We fully devote ourselves to each yacht owner and have an ‘all-hands-on-deck’ approach to supporting you.

If you would like to charter your yacht through our agency, feel free to contact us here . 

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Buying a Yacht vs. Chartering a Yacht: Luxury Decisions

When you reach a certain echelon of success, the allure of the open seas often beckons more powerfully. For the elite, yachts become not just a symbol of luxury but an embodiment of freedom and adventure. The U.S. coastline, especially areas like Florida, the Northeast, and California, offers some of the most picturesque sailing routes globally. The primary decision for many is whether to buy a yacht or charter one.

The Financial Aspects of Owning a Yacht

Owning a yacht is a significant investment, and it’s crucial to understand the associated costs. One should anticipate annual upkeep costs to be about 10% of the yacht’s purchase price. For instance, if you buy a yacht for $10 million, you can expect to spend approximately $1 million annually on maintenance, crew salaries, mooring fees, insurance, and other miscellaneous expenses.

Brands to Consider:

For those considering mega yachts, prestigious brands like Lurssen from Germany and Feadship Yacht from the Netherlands stand out for their super custom, luxurious designs. If you’re in the market for luxurious weekend or extended cruise vessels, brands like Princess Yachts and Sirena Yachts come highly recommended. Day cruisers might want to explore what Pardo Yachts, Wajer and Vanquish Yachts has to offer.

Chartering: A Flexible Alternative

For those not keen on ownership responsibilities, chartering offers a unique set of benefits. You can enjoy the luxury of a yacht without the long-term financial and maintenance commitments. However, if you’re considering buying a yacht and chartering it out when not in use, there are crucial factors to consider:

• Potential Pitfalls : Always do thorough research on the charter company. Some less reputable charter firms are known for bait and switch strategies. This could mean the yacht you meticulously selected and booked might not be available upon your arrival.
• Income & Management : Yes, chartering your yacht can offset some costs. Yet, if you choose a management company to handle charter operations, expect to give away 30-40% of your income.
• Warranty Concerns : Stay informed. Several yacht manufacturers may void warranties if the vessel is used for commercial purposes, such as charters.
• Local Laws & Restrictions : Every region has its boating laws and restrictions, especially when it comes to commercial activities.

Making an Informed Decision

For those hovering between the choices, here are some factors to ponder:

• Usage : How often do you see yourself sailing? If it’s only a few times a year, chartering might make more economic sense.
• Customization : Owning a yacht gives you the freedom to customize it to your exact preferences, something chartering can’t offer.
• Return on Investment : While yachts can offer unforgettable experiences, they are depreciating assets. Consider the financial implications carefully. Some brands depriciate more than others so make sure to do your research.
• Crew Requirements : Especially for mega yachts, a crew isn’t optional; it’s a necessity. Their salaries, training, and management can be significant costs.

For those ready to explore further, YachtWay.com offers an extensive collection of luxury yachts, catering to varied tastes and requirements. Whether it’s buying or chartering, the final decision should match not just your financial capability but also your lifestyle and vision of maritime luxury.

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Luxury Yacht Charter vs. Owning: Which Is Right for You?

Luxury yacht chartering and yacht ownership represent two distinct avenues for experiencing the opulent world of yachting. Whether you’re drawn to the allure of spontaneous voyages or the pride of possessing your maritime masterpiece, each option offers its own set of advantages and considerations.

In this article, we discuss luxury yacht chartering and ownership, shedding light on their respective merits to help you understand which aligns best with your seafaring aspirations.

Cost Comparison

1. initial investment:.

Chartering: Chartering a luxury yacht typically involves a fraction of the initial investment required for ownership. You can indulge in the lavish experience of cruising aboard a high-end vessel without the substantial upfront costs associated with purchasing.

Ownership: Owning a luxury yacht demands a significant initial investment encompassing the purchase price, maintenance fees, insurance, docking expenses, and crew salaries. While it symbolizes an esteemed status and offers long-term ownership benefits, it necessitates substantial financial commitment from the outset.

2. Ongoing Expenses:

Chartering: The ongoing expenses associated with luxury yacht chartering are relatively transparent and predictable. You pay for the duration of your charter, inclusive of fuel, crew wages, and other operational costs, without being burdened by long-term maintenance or depreciation concerns.

Ownership: Yacht ownership entails recurring expenditures such as routine maintenance, repair costs, insurance premiums, mooring fees, and crew salaries. Over time, these expenses can add up and potentially exceed the initial investment, but they offer the satisfaction of having a personalized maritime sanctuary.

3. Flexibility & Commitment

Chartering: Luxury yacht chartering epitomizes flexibility, affording you the freedom to select vessels tailored to your preferences and embark on voyages according to your schedule. With a diverse array of yachts available for charter, you can indulge in spontaneous escapades and explore diverse destinations without the constraints of ownership responsibilities.

Ownership: While yacht ownership offers unparalleled autonomy over your vessel, it also entails a degree of rigidity in terms of commitment. Your yacht becomes a fixed asset, requiring meticulous planning and scheduling for maintenance, usage, and logistical considerations. However, ownership grants you the privilege of customizing your yacht to reflect your tastes and preferences.

4. Commitment:

Chartering: Opting for luxury yacht chartering involves minimal long-term commitment, allowing you to revel in the maritime experience without enduring the responsibilities and liabilities associated with ownership. You can savor the epitome of luxury temporarily, tailoring each charter to suit your desires without the enduring obligations of yacht maintenance and management.

Ownership: Owning a yacht represents a significant dedication that involves financial investment, emotional attachment, and responsible stewardship. Owning a luxury yacht necessitates dedication to its upkeep, ensuring its pristine condition and operational readiness at all times.

Maintenance & Management

1. maintenance responsibilities:.

Chartering: When opting for luxury yacht chartering, the burden of maintenance responsibilities primarily falls on the Miami yacht rentals service provider. They are responsible for ensuring that the vessel is in optimal condition for each charter, conducting routine maintenance, repairs, and inspections to uphold safety and comfort standards. As a charter guest, you can relish the seamless sailing experience without the hassle of overseeing maintenance tasks.

Ownership: Yacht ownership involves full responsibility for the maintenance and upkeep of the vessel. Owners must coordinate regular maintenance checks, repairs, and servicing to preserve the yacht’s pristine condition and operational efficiency. This includes addressing mechanical issues, cosmetic enhancements, and compliance with regulatory standards, necessitating a proactive approach to yacht management.

2. Management Considerations:

Chartering: Luxury yacht chartering offers a hassle-free alternative to yacht ownership in terms of management considerations. Charter guests can simply select their desired vessel, specify their itinerary and preferences, and entrust the operational aspects to the charter service provider. This grants them the freedom to focus solely on enjoying the luxurious amenities and exploring exotic destinations without the complexities of yacht management.

Ownership: Yacht ownership involves managing crew, finances, itinerary, training, and regulations. Owners must navigate a myriad of logistical challenges, ranging from scheduling maintenance appointments to coordinating crew rotations and provisioning supplies. While ownership grants unparalleled autonomy, it also demands meticulous attention to detail and efficient management skills.

Customization & Personalization

1. level of customization:.

Chartering: Luxury yacht chartering offers a degree of customization through the selection of vessels equipped with various amenities and features to suit your preferences. While charter guests may have limited influence over the design and layout of the yacht, they can choose from an extensive fleet of vessels tailored to different styles, sizes, and functionalities. In addition, yacht rentals in Miami may offer personalized services such as gourmet catering, onboard entertainment, and water sports activities to enhance the charter experience.

Ownership: Yacht ownership provides unparalleled opportunities for customization, allowing owners to transform their vessels into bespoke maritime retreats. From interior design enhancements to technological upgrades and recreational amenities, owners have the creative freedom to tailor every aspect of their yacht to reflect their unique tastes and lifestyle preferences. Whether it’s installing state-of-the-art entertainment systems or commissioning custom artwork, yacht owners can imbue their vessels with a sense of personal identity and luxury.

2. Personalization Options:

Chartering: While luxury yacht chartering may offer limited scope for personalization compared to ownership, charter guests can still enjoy tailored experiences through bespoke charter packages and concierge services. Whether it’s arranging themed events, private chef services, or exclusive shore excursions, charter service providers strive to accommodate guests’ individual preferences and create unforgettable memories.

Ownership: Yacht ownership unlocks boundless opportunities for personalization, enabling owners to curate every aspect of their vessel to align with their lifestyle and aesthetic preferences. From selecting premium materials and finishes for interior décor to customizing outdoor living spaces and onboard amenities, owners can elevate their yacht to the epitome of luxury and sophistication. Additionally, owners can incorporate personalized touches such as monogrammed linens, bespoke furniture, and signature artwork to imbue their yachts with a sense of exclusivity and refinement.

Accessibility & Availability

1. accessibility:.

Chartering: Luxury yacht chartering offers unparalleled accessibility, allowing individuals to indulge in the yachting experience without the constraints of ownership. Chartering provides a hassle-free avenue for those seeking spontaneous escapades or occasional maritime adventures, enabling them to select from a diverse fleet of vessels and embark on voyages tailored to their preferences.

Ownership: Yacht ownership, while symbolizing exclusivity and prestige, may pose accessibility challenges for individuals who are unable to commit to full-time usage or prefer to avoid the logistical complexities associated with ownership. Owners must contend with scheduling conflicts, maintenance obligations, and operational considerations, which may limit the accessibility of their yachts for impromptu outings.

2. Availability:

Chartering: Luxury yacht chartering offers unparalleled availability, with a multitude of vessels and charter options available to accommodate varying preferences and requirements. Whether it’s a day cruise along the coastline or an extended voyage to exotic destinations, Miami’s yacht rentals strive to ensure seamless availability and flexibility to meet the diverse needs of charter guests.

Ownership: Yacht ownership affords owners exclusive access to their vessels at all times, granting them the freedom to embark on spontaneous excursions and explore secluded anchorages at their leisure. However, ownership also entails meticulous planning and scheduling to ensure the availability of crew, provisions, and logistical support, particularly during peak seasons or high-demand periods.

Experience & Lifestyle

1. unique experiences:.

Chartering: Luxury yacht chartering offers a diverse array of unique experiences, from leisurely cruises along picturesque coastlines to adventurous expeditions exploring remote islands and hidden coves. Charter guests can tailor each voyage to suit their preferences, indulging in gourmet dining experiences, water sports activities, and cultural excursions curated by experienced charter professionals.

Ownership: Yacht ownership unlocks a world of unparalleled experiences, allowing owners to immerse themselves in the luxury lifestyle synonymous with yachting. Whether it’s hosting extravagant parties onboard, enjoying intimate gatherings with family and friends, or embarking on transoceanic adventures, yacht owners have the freedom to create unforgettable memories and forge lifelong connections with the sea.

2. Lifestyle Benefits:

Chartering: Luxury yacht chartering offers a luxurious lifestyle without the long-term commitments and responsibilities associated with ownership. Charter guests can enjoy the benefits of yachting, including personalized service, world-class amenities, and exclusive access to pristine cruising grounds, without being burdened by maintenance tasks or operational concerns.

Ownership: Owning a yacht represents a unique lifestyle that offers exceptional freedom, luxury, and prestige. You have the opportunity to cultivate lifelong passions, nurture personal connections, and explore the world’s most breathtaking destinations from the comfort of your private sanctuary at sea. Yacht ownership represents more than a mere possession. It’s a testament to a lifestyle defined by sophistication, adventure, and the pursuit of maritime excellence.

Get a Hassle-Free Experience With Our Luxury Yacht Charter Service

Start a journey of unparalleled luxury and adventure with Miami Boat Charters, your premium destination for renting a yacht with ultimate customization options. Leave behind the stresses of ownership and embrace the freedom of hassle-free indulgence on the open seas. Whether you crave a day of leisurely cruising along Miami’s vibrant coastline or want to host a corporate event at an exotic destination, our experienced team is dedicated to crafting unforgettable experiences tailored to your every desire.

With our luxury yacht charter service, you’ll enjoy the ultimate comfort, convenience, and personalized service. From opulent onboard amenities to curated culinary delights and exhilarating water sports activities, every moment aboard our meticulously maintained vessels is designed to exceed your expectations.

Experience the epitome of luxury yachting without the commitments of ownership. Contact us at +1 (305) 401 -2707 or write to us at [email protected] and embark on a journey of unparalleled enjoyment on the pristine waters of Miami and beyond.

Phone Number: (305) 401-2707

Email: [email protected]

Address: 300 Alton Rd., Suite 300, Miami Beach, FL 33139

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Chartering a Yacht vs. Owning a Yacht

May 4, 2023

Yachts are luxurious boats that are associated with high-end lifestyles and wealth. Owning a yacht is a dream for many people, but the costs of buying and maintaining a yacht can be prohibitively expensive. Fortunately, there is an alternative that offers all the benefits of owning a yacht without the financial burden: yacht charters.

Yacht charters are an excellent way to experience the luxury and freedom of boating without the high costs of yacht ownership. When you charter a yacht, you pay a fee to rent the boat for a set period of time. During your rental period, you can enjoy all the benefits of yacht ownership, such as traveling to exotic destinations, enjoying the open sea, and entertaining guests in style.

One of the main benefits of yacht charters over yacht ownership is cost. Owning a yacht can be incredibly expensive, with the initial purchase price being just the beginning. Once you own a yacht, you will be responsible for ongoing costs such as maintenance, repairs, insurance, dockage, and crew salaries. These costs can easily add up to hundreds of thousands of dollars per year, making yacht ownership prohibitively expensive for most people. In contrast, yacht charters allow you to enjoy the benefits of yacht ownership without the high costs. You can rent a yacht for a fraction of the cost of owning one, and you don't have to worry about ongoing expenses. Step on the boat, have a great day being pampered on the water, and at the end of the day, step off with no worries or additional costs ... what’s not to love!!

Another benefit of yacht charters is convenience and peace of mind. When you own a yacht you must be knowledgeable in a myriad of systems, electronics, navigation, and vessel operations. Not to mention the liability that accompanies the responsibility of taking people out on the open water. With a charter all that is taken care of by the captain and crew. You have no stress and can focus on enjoying the day and leaving all the rest to the captain and crew.

Yacht charters are also more convenient than yacht ownership. When you own a yacht, you are responsible for all the details of managing the boat, including maintenance, repairs, and crew management. This can be time-consuming and stressful, especially if you are not an experienced sailor. With yacht charters, all of these details are taken care of by the charter company. They will provide you with a fully equipped and maintained yacht, and they will take care of all the details of managing the crew and handling any issues that arise during your rental period.

Finally, yacht charters offer a unique and unforgettable experience. Whether you are looking for a romantic getaway, a family vacation, or a corporate retreat, a yacht charter can provide an unparalleled level of luxury, comfort, and adventure. You can choose from a wide range of yacht types and sizes, from small sailing yachts to large motor yachts, and you can customize your trip to suit your needs and preferences. With a yacht charter, you can create memories that will last a lifetime.

Always make sure the yacht charter company you are working with is reputable. Ask for a contract, verify the skipper is a USCG licensed captain, the boat has USCG-approved safety equipment and all charter permits and licenses. Any reputable le charter rental operator will be happy to furnish evidence of these requirements.

In conclusion, yacht charters are more economical than yacht ownership and offer a wide range of benefits, including cost savings, flexibility, convenience, and a unique and unforgettable experience. Whether you are an experienced boater or a first-timer, a yacht charter can provide you with the freedom, luxury, and adventure you are looking for. So if you're looking to enjoy the benefits of yacht ownership without the high costs and responsibilities, consider renting a yacht charter for your next boating adventure.

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Charter Vs. Buying Yacht: What Is Right for Your Budget?

Published by admin on february 16, 2022 february 16, 2022.

Like any other financial commitment like owning a house or investing in a new business, buying a yacht is a decision that can’t be made lightly. Even for high-net-worth individuals, owning a yacht rather than renting it can be an expensive endeavor.

It is estimated that the yearly cost of any boat can reach up to 10% of the initial value of the vessel. Fuel cost, maintenance, docking fee, insurance premiums, and crew salary add up to make it a far more expensive investment in the long run. Considering that, chartering a yacht charter in the Bahamas or any other location becomes a lucrative alternative. Continue reading to learn the difference between the two and decide which option you should prefer.

The time you would spend on Yacht

How often would you use the yacht? Will it be a once or twice a year endeavor? Or more frequent than that? This is the most important factor that you should consider before making a decision. Depending on the answer, you can decide if yacht rental in the Bahamas the added expense along with the actual cost of the boat is worth bearing.

Depreciation on the asset 

A boat is worse in keeping value compared to a car or any other investment. A car can become a collectable, but it is rare for a boat to become one. With ever-changing technological advancements in material and propulsion systems, people are more likely to look for newer models than older ones. It is safe to consider that the value of a yacht will depreciate by 20% in the first year and 5-10% every year after that. On the other hand, if you go with a boat charter in the Bahamas , you won’t have to worry about any additional expenses on the yacht. 

Why Renting a yacht more beneficial? 

First and foremost, the depreciation expenses won’t concern you if you are chartering a yacht. Not to mention, you are just renting it for a duration and therefore paying only the amount you are actually using it. You don’t have to bother about the docking fee, maintenance, insurance or anything a yacht owner would have to pay for a once in a year vacation. That being said, if you are someone who would actually use your yacht more frequently, ownership could be a fair option too.

Also read: Plan A Perfect Trip For Harbor Island

You can customize your option 

Yacht manufacturers go to a great lengths to customize their boats according to the buyer’s needs and budget. However, it’s not easy on the pocket or in practice to alter it further after it’s been made. As a boat owner, you are more or less stuck with the initial design of the boat you have been delivered. 

Meanwhile, if you are in the market for a private boat charter in the Bahamas , you can easily look for an option that suits your budget and required amenities. There will be numerous boats that you can explore to decide which one suits you best. 

You will get a professional crew with charter 

Another big advantage of renting a boat is that it comes with a crew. You won’t have to hire a crew and pay their salaries even if you aren’t using your yacht. You may simply select and choose extra crew services since luxury yacht charter firms can utilize existing ties with specialized crew members. If scuba diving is part of your holiday plans, for example, a charter broker may add a certified diving instructor or divemaster to your crew list, providing you rapid access to the skills and knowledge you’ll need to make the most of your diving experience.

Having an experienced crew also helps those who are new to boating and yachts. For those who are new to boating, relying on a trustworthy yacht charter broker is one of the optimum solutions. Rather than studying different types of boats and designing a unique itinerary, you may have your whole holiday organized by a team of highly qualified boat specialists who know where the greatest spots are and when the ideal time to visit them is.

Charter vs. Buying: Your call  

Ultimately it all boils down to your needs and budget. If you think you can afford the expense that comes with ownership and are okay with handling the crew and other associated responsibilities then you are good to go with the buying option. But if you don’t want to bother with any of that and are more interested in exploring the options according to your requirements, chartering a yacht is best for you. Moreover, if you are looking for boat rental in the Bahamas for the best experience then, look no further than Yacht Charters Nassau. From Sunset cruises, romantic outings, fun cruises to extended-stay charters, we offer a range of facilities to ensure you make the best out of your holidays. Browse the website to learn more!   

You can also read: Book A Exumas Yacht Rental To Celebrate Your Father’s Retirement

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Chartering Vs. Renting A Boat Or Yacht: What’s The Difference?

If you have considered a Miami boat rental recently, then you have likely come across various offers for Miami boat rental companies and Miami charter companies: but what is the difference between renting and chartering a boat in Miami? Let’s take a closer look at the key differences between chartering and renting a boat in Miami to help you decide which is the best option for you and your needs.

Chartering vs. Renting

Chartering and renting are sometimes used interchangeably on the current market, but there are some significant differences between these two actions which make them highly different experiences.

When you rent a boat or yacht, you are renting the watercraft for a much more limited amount of time. Boat rentals are typically done on an hourly or at most a 1-day basis. Most rented watercrafts are smaller boats, including motor boats and power boats, which are not intended to be used overnight or for significant periods of time.

You also need to bring your own equipment and if applicable, crew, when you rent a boat. Fishing equipment, water sports, drinks, food, etc., are all something you will need to bring on your own.

In other words, when you rent a boat—you get the boat. Everything (and everyone) else is up to you to bring.

If renting a boat gets you the boat, then chartering gets you an experience. When you charter a boat or yacht, you are typically renting the boat for at least one day—though charters typically last longer, anywhere from 3 days up to a week or potentially more for customized experiences. Chartered boats are typically larger, such as yachts, since they are designed to be used for longer periods of time including overnight.

Companies who offer boat charters can offer a wide range of experiences. A boat charter might include just the boat rental—or it can include a captain, crew, and a personal chef on board, along with dozens of options in between. Some chartered boats can provide you with equipment and refreshments, while others will leave it up to you to bring those items along. The key is in the details offered by the company, so if you are looking for a specific experience, be sure to choose a company that offers a range of charter experiences.

Which is the Best Option for You?

The question is: should you go for a Miami boat rental or a charter? The answer lies in what, exactly, you want out of the experience.

If you only want to go fishing or snorkeling for an afternoon or at most a day, then a boat rental may be the best option, especially when you have previous boating experience. If you’d like to be on the water for a longer period of time or you don’t have as much experience and you’d like a crew along with you, then a charter may be the best option.

Whatever you choose, remember: be safe and have fun!

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What we know about the container ship that crashed into the Baltimore bridge

• The ship that crashed into the Francis Scott Key Bridge on Tuesday was the Singapore-flagged Dali.
• The container ship had been chartered by Maersk, the Danish shipping company. 
• Two people were recovered from the water but six remain missing, authorities said.

A container ship crashed into a major bridge in Baltimore early Tuesday, causing its collapse into the Patapsco River.

A livestream showed vehicles traveling on the Francis Scott Key Bridge just moments before the impact at 1:28 a.m. ET.

Baltimore first responders called the situation a "developing mass casualty event" and a "dire emergency," per The Associated Press.

James Wallace, chief of the Baltimore Fire Department, said in a press conference that two people had been recovered from the water.

One was uninjured, but the other was transported to a local trauma center in a "very serious condition."

Wallace said up to 20 people were thought to have fallen into the river and some six people were still missing.

Richard Worley, Baltimore's police chief, said there was "no indication" the collision was purposeful or an act of terrorism.

Wes Moore, the governor of Maryland, declared a state of emergency around 6 a.m. ET. He said his office was in close communication with Pete Buttigieg, the transportation secretary.

"We are working with an interagency team to quickly deploy federal resources from the Biden Administration," Moore added.

Understanding why the bridge collapsed could have implications for safety, in both the shipping and civil engineering sectors.

The container ship is the Singapore-flagged Dali, which is about 984 feet long, and 157 feet wide, per a listing on VesselFinder.

An unclassified Cybersecurity and Infrastructure Security Agency report said that the ship "lost propulsion" as it was leaving port, ABC News reported.

The crew notified officials that they had lost control and warned of a possible collision, the report said, per the outlet.

The Dali's owner is listed as Grace Ocean, a Singapore-based firm, and its manager is listed as Synergy Marine, which is also headquartered in Singapore.

Shipping news outlet TradeWinds reported that Grace Ocean confirmed the Dali was involved in the collapse, but is still determining what caused the crash.

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Staff for Grace Ocean declined to comment on the collision when contacted by Business Insider.

"All crew members, including the two pilots have been accounted for and there are no reports of any injuries. There has also been no pollution," Synergy Marine said in a statement.

The company did not respond to a request for further comment from BI.

'Horrified'

Maersk chartered the Dali, with a schedule for the ship on its website.

"We are horrified by what has happened in Baltimore, and our thoughts are with all of those affected," the Danish shipping company said in a statement.

Maersk added: "We are closely following the investigations conducted by authorities and Synergy, and we will do our utmost to keep our customers informed."

Per ship tracking data, the Dali left Baltimore on its way to Colombo, the capital of Sri Lanka, at around 1 a.m., about half an hour before the crash.

The Port of Baltimore is thought to be the largest in the US for roll-on/roll-off ships carrying trucks and trailers.

Barbara Rossi, associate professor of engineering science at the University of Oxford, told BI the force of the impact on one of the bridge's supporting structures "must have been immense" to lead to the collapse.

Dr Salvatore Mercogliano, a shipping analyst and maritime historian at Campbell University, told BI: "It appears Dali left the channel while outbound. She would have been under the control of the ship's master with a Chesapeake Bay pilot onboard to advise the master.

"The deviation out of the channel is probably due to a mechanical issue as the ship had just departed the port, but you cannot rule out human error as that was the cause of the Ever Forward in 2022 just outside of Baltimore."

He was referring to the incident two years ago when the container ship became grounded for a month in Chesapeake Bay after loading up cargo at the Port of Baltimore.

The US Coast Guard found the incident was caused by pilot error, cellphone use, and "inadequate bridge resource management."

Claudia Norrgren, from the maritime research firm Veson Nautical, told BI: "The industry bodies who are here to protect against incidents like this, such as the vessel's flag state, classification society, and regulatory bodies, will step in and conduct a formal investigation into the incident. Until then, it'll be very hard for anyone to truly know what happened on board."

This may not have been the first time the Dali hit a structure.

In 2016, maritime blogs such as Shipwreck Log and ship-tracking site VesselFinder posted videos of what appears to be the stern of the same, blue-hulled container vessel scraping against a quay in Antwerp.

A representative for the Port of Antwerp told BI the Dali did collide with a quay there eight years ago but couldn't "give any information about the cause of the accident."

The Dali is listed as being built in 2015 by Hyundai Heavy Industries in South Korea.

Watch: The shipwreck at the center of a battle between China and the Philippines

• Main content

At least 6 people unaccounted for after cargo ship crash levels Baltimore bridge

BALTIMORE — A major Baltimore bridge collapsed like a house of cards early Tuesday morning after it was struck by a container ship, sending several vehicles plunging into the dark water below, sparking an intense search for survivors and shutting down one of the nation's busiest ports.

Maryland Gov. Wes Moore declared a state of emergency and said the calamity that knocked down the Francis Scott Key Bridge was likely the result of an accident and not an act of terrorism.

"Our state is in shock," Moore said.

Follow live updates here

Moore said the cargo ship Dali notified authorities it lost power and issued a mayday moments before the 984-foot vessel slammed into a bridge support at a speed of eight knots, which is about nine miles per hour.

Meanwhile, rescue crews using sonar detected at least five vehicles in the frigid 50-foot-deep water, including three passengers cars, a cement truck and another vehicle of some kind, Moore said.

An unknown number of workers were doing repairs on the bridge when the ship hit a support pillar and at least six people were still believed to be missing, Moore said.

"Our exclusive focus is on saving lives," the governor said.

An 'active search-and-rescue posture'

Earlier, two people were rescued from the water, Baltimore Fire Chief James Wallace said.

One was in good condition and refused treatment, Wallace said. The other was seriously injured and was being treated in a trauma center.

“We are still very much in an active search-and-rescue posture at this point,” Wallace said.

Moore said there might be more drivers in the water were it not for the “folks” who, upon hearing the mayday, blocked off the bridge and kept other cars from crossing.

“These people are heroes,” Moore said. “They saved lives. They saved lives.”

Nearly eight years ago, the Dali was involved in another collision. In July 2016, the ship collided with a quay at the Port of Antwerp-Bruges in Belgium, damaging the quay.

The nautical commission investigated the accident, but the details of the probe were not immediately clear Tuesday.

The Dali is operated and managed by a company called Synergy Group. In a statement, the company said two port pilots were at the helm of the Dali at the time of Tuesday's crash and that all 22 crew members onboard were accounted for.

The bridge, which is about a mile-and-a-half long and carries Interstate 695 over the Patapsco River southeast of Baltimore, was "fully up to code," Moore said.

Transportation Secretary Pete Buttigieg has been monitoring the situation and a team of National Transportation Safety Board investigators was already at the bridge.

President Joe Biden vowed to rebuild the bridge and send federal funds.

"This is going to take some time," Biden warned. "The people of Baltimore can count on us though to stick with them, at every step of the way, till the port is reopened and the bridge is rebuilt."

The Port of Baltimore is the 11th largest in the U.S. and the busiest port for car imports and exports, handling more than 750,000 vehicles in 2023 alone, according to data from the Maryland Port Administration.

The Dali was chartered by Danish shipping giant Maersk, which said it will have no choice but to send its ships to other nearby ports with the Port of Baltimore closed.

Writer David Simon, a champion of Baltimore who set his TV crime drama "The Wire" on the streets of the city he once covered as a reporter, warned online that the people who will suffer the most are those whose livelihoods depend on the port.

"Thinking first of the people on the bridge," Simon posted on X . "But the mind wanders to a port city strangling. All the people who rely on ships in and out."

Timeline of crash

Dramatic video captured the moment at 1:28 a.m. Tuesday when the Dali struck a support and sent the bridge tumbling into the water. A livestream showed cars and trucks on the bridge just before the collision. The ship did not sink and its lights remained on.

Investigators, in a timeline, said the Dali's lights suddenly shut off four minutes earlier before coming back on and then, at 1:25 a.m. dark black smoke began billowing from the ship's chimney.

A minute later, at 1:26 a.m., the ship appeared to turn. And in the minutes before it slammed into the support, the lights flicked off and on again.

Maryland Department of Transportation Secretary Paul Wiedefeld said the workers on the bridge were repairing concrete ducts when the ship crashed into the structure.

They were employed by Brawner Builders Inc. And at least seven workers were pouring concrete to fix potholes on the roadway on the bridge directly above where the ship hit, a foreman named James Krutzfeldt said.

Krutzfeldt, who was not working on that job, said one of the missing is another foreman who he considers his mentor and “work dad.”

"I'm still kind of in shock," he said.

Earlier, the U.S. Coast Guard saids received a report that a “motor vessel made impact with the bridge” and confirmed it was the Dali, a container ship sailing under a Singaporean flag that was heading for Sri Lanka.

Bobby Haines, who lives in Dundalk in Baltimore County, said he felt the impact of the bridge collapse from his house nearby.

"I woke up at 1:30 this morning and my house shook and I was freaking out," he said. "I thought it was an earthquake and to find out it was a bridge is really, really scary."

Families of bridge workers wait for updates

Baltimore Mayor Brandon M. Scott said at a news conference: "We have to first and foremost pray for all of those who are impacted, those families, and pray for our first responders and thank them, all of them, [for] working together — city, state, local — to make sure that we are working through this tragedy."

A group of people who said they were family members of workers employed by Brawner Builders Inc. gathered at a Royal Farms convenience store near the entrance of the bridge.

They said their loved ones were working on the bridge at the time. One woman told NBC News that her father-in-law, Miguel Luna, was among the workers.

They went to the store because it was the closest they could get to the bridge, but were yet to get any formal guidance as to the status of their loved ones, they said.

'A long road in front of us'

Built in 1977 and referred to locally as the Key Bridge, the structure was later named after the author of the American national anthem.

The bridge is more than 8,500 feet, or 1.2 miles, long in total. Its main section spans 1,200 feet and was one of the longest continuous truss bridges in the world upon its completion, according to the National Steel Bridge Alliance .

About 31,000 vehicles a day use the bridge, which equals 11.3 million vehicles per year, according to the Maryland Transportation Authority.

The river and the Port of Baltimore are both key to the shipping industry on the East Coast, generating more than $3.3 billion a year and directly employing more than 15,000 people.

Asked what people in Baltimore can expect going forward, the state's transportation secretary said it is too early to tell.

"Obviously we reached out to a number of engineering companies so obviously we have a long road in front of us," Wiedefeld said.

Julia Jester reported from Baltimore, Patrick Smith from London and Corky Siesmaszko from New York City.

Julia Jester is a producer for NBC News based in Washington, D.C.

Patrick Smith is a London-based editor and reporter for NBC News Digital.

Corky Siemaszko is a senior reporter for NBC News Digital.