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