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An Introduction to the Superyacht Industry

  • Historical development over the last fifty years
  • Different types and styles of yacht
  • The industry today – designers, builders, crews, managers
  • The Owners and their requirements
  • The role of the yacht manager
  • Future Trends

Personnel

  • Crew structures and sizes
  • The role of the Captain
  • Crew character and qualification requirements including STCW
  • Recruitment, training and retention
  • Career progression
  • Contracts of employment, terms and conditions, ships articles
  • MCA and qualification requirements

Operational Management

  • Management Systems
  • Authority, policies and standing orders
  • Safety management
  • Documentation and record keeping
  • Personnel
  • Risk assessment

Interior Management and Catering

  • Hospitality management review
  • Operating procedures and policies
  • Quality management
  • Health and safety
  • Food and drinks service
  • Housekeeping
  • Specialist guest service

Accounting

  • Financial Policy
  • Bookkeeping
  • Accounting, Budgeting and costing
  • Cash management
  • Internal controls
  • Charter accounting
  • Auditing, Value Added Tax (VAT)
  • Corporate ownership
  • Anti money laundering

Chartering

  • Superyacht chartering
  • The Charter Broker Network
  • Forms of charter agreement
  • Chartering seasons and shows
  • Commercial chartering or to defray costs
  • Customer relations and fixing a charter
  • Managing the charter – crew and guests

Repairs and Maintenance

  • Health & safety
  • Routine maintenance v condition monitoring
  • proper planning
  • The owner and the budget
  • Enlisting outside help
  • Repair/refit facilities and periodic maintenance
  • yard tenders and tender evaluation
  • Paint maintenance and paint system repairs

Legal Aspects of Superyacht Management

  • International law and how it works – United Nations, IMO and Flag State
  • English law and the English legal system
  • The American legal system and the essential difference to English law
  • The law of contract – general, charter, new building, employment
  • The law of tort – professional negligence
  • The law as it relates to Superyachts – UK flag, H&S, private pleasure v commercial, load line, SOLAS, STCW, MARPOL, Tonnage, ISM and ISPS
  • The law of marine insurance

Superyacht Insurance

  • Different types of cover – hull and machinery, protection and indemnity, crew medical, crew personal effects, loss of charter hire etc.
  • The different insurance markets available, policy wordings and meanings. The advantages and disadvantages of different wordings and types of cover
  • The roles of the insurance broker (producing and placing). the lead underwriter, following underwriters, the underwriting agent, the claims, manager, the loss adjuster and the recovery agent
  • Managing a superyacht insurance

New Building Project Management

  • Planning a new build
  • Provisional specifications
  • Tendering and tender evaluation
  • New building contract
  • Plan approval
  • Site representation
  • Trial and acceptance

Security and ISPS

  • Principle of yacht security
  • The ISPS Code and how it affects Superyachts
  • Security personnel and duties
  • Searching and search procedures
  • Security Systems
  • Owners and guest security ashore
  • Superyacht crews
  • Piracy and armed robbery

The International Safety Management Code

  • What is the ISM Code?
  • Key players
  • Certification
  • Legal and insurance implications
  • Practical aspects of the code