A superyacht is an extremely expensive asset. Owners must contemplate not only not only acquisition but ongoing maintenance and operational costs to manage the value of the asset.
If not properly managed, there are several areas where these costs can escalate rapidly, including refits; maintenance and improvements; changes to flag registration or classification; ongoing tax changes, social security and/or VAT if the vessel is based in or connected to the EU.
Aqua Marine set up and implement robust and focused budgets, in consultation with the Owner and Captain, for the operation of the vessel. Practically this includes forecasting operational funds, creating and reconciling the bank accounts and making payments to suppliers.
We ensure that budgets are adhered to and that there is a “no surprises” policy for the owner. This has allowed Aqua Marine to deliver to its clients more effective controls on cost, and clearer forecasting on expenditure requirements to enhance value.
Effective reporting can allow liabilities to be properly assessed, budgets to be agreed and a clear understanding of how the vessel(s) may be managed as a commercial and well-governed business.