Our professional Yacht Management team and management companies are committed to working on behalf of the yacht owner in co operation with the yachts Captain and crew.
Yacht management services allow the yacht owner to focus on enjoying his or her vessel and the captain to focus on running the vessel, as opposed to worrying about the paperwork. Our superyacht management team comprises a range of specialist accountants, former captains and engineers, crew managers and more to ensure the yacht is being maintained, administered and operated to the highest International safety standards.
The role of your yacht manager
Your yacht is assigned to a dedicated project manager who will act as the Owner’s representatives across the full spectrum of the yacht’s operations. The close relationships with shipyards, designers, naval architects and other suppliers enable the Yacht Management team to keep up to date with the many types of vessel. We stay abreast of how to run them efficiently alongside the ever-changing technical, administrative and regulatory standards. You can be assured that our staff will work with you and your team to make sure that the yacht is operated safely and efficiently.
The Yacht Management Team offers a full range of superyacht management services capable of handling the full spectrum of large yacht operations and operational management. This allows individual tailoring of specific support and services needed by the Owner. From financial reporting to the supervision of yard time, the team has the specific knowledge and experience to deliver the highest calibre support. Effective checks and balances, both operationally and financially, give the Owner peace of mind that the yacht and crew is operating safely and efficiently.
Using a dedicated bank account for each yacht and working from an annual budget agreed with Captain and Owner, the Yacht Management team handles the entire financial management of the yacht’s expenditures. The Yacht Manager will administer expenditures against specific categories, pay bills and reconcile bank statements and credit cards. Production of monthly, quarterly and annual reports will occur, comparing the actual operating costs to the budget with detailed explanations as appropriate where variances have occurred. The Yacht Management team will operate with the utmost integrity and ethics, assuring transparency in all aspects of the vessel accounting.
The Yacht Management Team has a certified safety and quality management system, customised to each specific yacht. Experts in the international codes for safety, security and labour compliance (ISPS, ISM & MLC), and certified to international industry standards it provides a continuous cycle of improvement in both quality and safety. The system includes monthly returns from each yacht designed to highlight deficiencies and ensure corrective action is taken as well as on board audits carried out by a Safety Superintendent ensuring that the yacht is compliant and which provide the opportunity for coaching the crew in safety and compliance culture. The Yacht Managers hold Document of Compliance (DOC) with major flag administrations, compliant with the Large Yacht Codes, and a Passenger Yacht DOC, compliant with the Passenger Yacht Code, allowing for smooth transition of a yacht into the managed fleet.
In the technical and maintenance arena, the diverse backgrounds and practical experience of our staff provide a wealth of knowledge. Through visits to the yacht and working with the Captain in the selection and monitoring of vendors, contractors and shipyards, our staff will help to align maintenance and repair work with the budget and cruising itinerary. Fraser’s operations team will conduct a periodic review of vessel upkeep, planned maintenance schedules and other issues affecting safety and vessel operation, providing a written report of vessel status. Our Yacht Managers can also assist the Captain and Owner with yacht registration and classification.
Yacht Management takes a proactive approach to our relationship with the insurance providers for our yachts. We work closely with a number of insurance brokers and conduct regular reviews of hull and machinery and indemnity policies as well as crew health insurance.
Assistance to owners and their Captains with recruitment, reference and certification checking and ensure medical certificates are valid. On recruitment of each crew member, Yacht Management check their certificates and documents to ensure validity and if requested we will carry out pre-employment verification. They will then be given an approved Employment Agreement. On an ongoing basis, the team will administer crew salaries, make travel arrangements if required and handle any crew related insurance matters.
A luxury yacht needs an exceptionally skilled and experienced crew. Potential crew members are interviewed and screened to ensure we find the best people to run your yacht to the highest of standards.