End of Mediterranean Summer Season Statistics

That seems about normal for a season. As long as the Owner is not expecting to have his year's boating paid for by charter.

Different Owners have separate needs while in the Med and the Caribbean. Do they want a summer holiday and Christmas on the boat or make money in high season?

Hi,

What size is your boat?

That's a lot of work how ever you cut it. I got tired just reading that ..

Someone was saying this on an Italian TV program from Genoa last Saturday
The 2010 Summer in Italy had these following decreases:
-60% in fuel bought from Marinas and harbours
-40% of visiting boats in marinas which comes to -30% for boats above 80feet 24 metres
-50% for boats leaving there berth for more then a week 7 days.

Not good data at all

A friend has a little 21' center console he'd like to sell so he can move up a bit. He hasn't even gotten a nibble despite good pricing. If the owners of big yachts are waiting for the little guys to get the market moving they've got a long wait coming. "It takes money to make money" is more than just a catch phrase. If the owners of large yachts don't move them and get money flowing to the marinas, fuel docks, etc. (in other words invest in the economy and the industry) they'll end up the big loosers. They should consider it their civic duty. They can have fun spending some cash or they can take the hit in maintenance costs and on resale. They need to recognize that they're the big investors in this industry. If it falls completely flat they've only themselves to blame. My friend can afford to hold on to his $10,000 fully paid for boat. Can they afford to pay their mortgage payments or will they lose their (multi-million dollar) investments plus the amount they're upside-down for? So far it looks like a high stakes poker game that's not going well for most of the players.

I can say this in Europe especially the West side where price have become ludcriusly expensive. For a 10 metre boat which I consider average size berth fees are from 5000 to 10000 EUs per year. With the new ones being closer to the higher price. Most of these countries like Spain have an average wage of about 10000 EUs per year and in Italy it is 12000.
Yard prices which have tripled even for rent fees. And fuel prices which apart going up because of the oil demand receive a 10% increase at the pump. So if diesel is 1.20 EU on the road you pay like 1.35 at the marina.
So how can here in West Europe anyone imagine that a normal person can afford a normal boat.

That's pretty much a worldwide situation. Wouldn't want to be the one who bought a large yacht (or house) a few years ago. A client was recently offered the opportunity to buy a 55'SR "for $1.00 and take over the payments". He thought it was a great deal until I pointed out that he was walking into 20% negative equity and that he'd be instantly losing over $100,000. The industry is just going to have to suffer a correction. Some big money will be lost and prices will have to come down.

Hi,

Do you use FOBAS or any independent lab to verify what you got is what it says on the Spec sheet?

That price is for commercial fuel. I am speaking about normal rates for non commercal yachts. Price was about 1.35 EU last Summer.
If 0.61 was the price you see to a minimum double the traffic you saw....

"A friend has a little 21' center console he'd like to sell so he can move up a bit. He hasn't even gotten a nibble despite good pricing. If the owners of big yachts are waiting for the little guys to get the market moving they've got a long wait coming. "It takes money to make money" is more than just a catch phrase. If the owners of large yachts don't move them and get money flowing to the marinas, fuel docks, etc. (in other words invest in the economy and the industry) they'll end up the big loosers. They should consider it their civic duty. They can have fun spending some cash or they can take the hit in maintenance costs and on resale. They need to recognize that they're the big investors in this industry. If it falls completely flat they've only themselves to blame. My friend can afford to hold on to his $10,000 fully paid for boat. Can they afford to pay their mortgage payments or will they lose their (multi-million dollar) investments plus the amount they're upside-down for? So far it looks like a high stakes poker game that's not going well for most of the players."


Not quite sure how an unsold $10,000 CC has anything to do with a 50m charter yacht's Med season, but if you apply any government to the issue, there certainly should be mandatory parity. After all, proportionately, the smaller vessel is at equal risk. So let's say a minimum guaranteed charter fee per year for the little fella - one 8 hour day at $35 including fuel. Sounds about all even.

There's no note on the little thing. His losses are stopped. On the 50m they are continuing to grow. The bottom end of the market will not prop up the top end. The top end will lead the market back to recovery or into collapse.

Well my observations for the season on the US East Coast are as follows-

It seemed to be slower in Nantucket and Newport for the megayachts, I am putting this to more boats heading to the Med. this year.

The 50 to 80' class seemed to be out in large numbers, going by the Marina's I have routinely visited over the last 4 summers

The big boats in New England were having a busy charter season, better than last year.

It seems the upper end of the market is selling reasonably well, the super rich are having a great year.

The Northeast had its best weather in 20 years, according to some old timers.

Most of my opinions are coming from my take after talking with fellow Captains and Dockmasters during the season.

It was indeed the hottest summer on record in the NE
http://www.huffingtonpost.com/2010/08/29/summer-2010-hottest-on-record-new-data_n_698322.html
Here on LI I noticed a big slump in the large yachts visiting Sag Harbor and more going to the anchorage than to the marinas. In the 30' to 60' size the dockage was down around LI, but not horribly so. The big thing that I noticed was that these boats didn't move.