With reports of a bumper Mediterranean
season and quality vessels in hot demand,
Sophia Wilsontalks to the charter industry
to get the insider lowdown...Quantity of quality
As well as strong interest, Northrop &
Johnson’s Fiona Maureso has seen a growth in
spend, with a focus on securing quality rather
than the best discount. “Clients are back to
wanting the very best that the market has to
ofer and they are willing to pay for it,” says
Maureso, who is also president of MYBA. This
shift has left some brokers struggling to source
top yachts during popular periods. “The market
was very active in 2017 with generally increased
bookings and a marked increase in demand,
resulting in a lack of suitable available yachts
during the peak periods of July and August,”
says Camper & Nicholsons’ senior charter
broker Susan Kidd. According to Edmiston’s
senior charter broker Natalya Manoukian, the
best yachts are being booked six months to a
year in advance. “We are already taking large
bookings for the summer with strong demand
for yachts 50 metres to 80 metres in length –
this shortage of supply is my only real concern,”
she adds.
Irma impact
Despite positivity about the market, especially
in the Mediterranean, last autumn’s hurricane
he charter market in 2017 was the strongest market we have seen in a decade,”
says Burgess charter manager Ben Harwood. This statement of positivity is
echoed across the industry, with brokers reporting more enquiries and strong
demand during the peak periods of last year. “Generally, charter clients were
spending money, booking early and upgrading their trips rather than taking the
cheaper options that were presented,” says Northrop & Johnson’s charter retail
director John Cichanowicz. “As long as the markets continue to rally [at least in the US] and the
world keeps spinning, clients are spending money and want to charter bigger, better yachts.”
Charter client numbers are thought to have been boosted by a robust American market
and stronger Russian interest. “The American market remains by far the largest source of
charterers, however we have seen a recent increase in Russian clients after several years of
decline,” adds Harwood.
booking up
season had a profound impact on the
Caribbean. “After a successful summer, winter
saw a decline in charters booked in the
Caribbean due to the destructive impact of
hurricanes Irma and Jose on the islands of
St Martin, the BVIs and St Barths,” says YPI’s
charter director Annemarie Gathercole.
“Although St Barths, a hugely popular island,
has rallied and rapidly picked itself up, with
many restaurants and beach bars reopened,
it’s clear that clients were put of going there.
This was demonstrated by the unusually high
number of charter yachts advertising last-
minute Christmas and New Year deals.”
While numbers were down, there was also
a huge amount of support from within the
yachting community. “We were overwhelmed
with the positive stance from owners deciding
to position their yachts in the Caribbean to
support and help rebuild the islands in need,”
says Burgess charter broker Chris Gregory.
“There was definitely a feeling of support for
the region from captains, owners and clients,”
adds Manoukian.
Traditional Caribbean hotspots did sufer
but this meant alternative destinations were
given a chance to shine. “There were more“The western
Mediterranean
remains the most
popular charter
destination, with
most clients
wanting to cruise
the South of
France and Italy”116