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Charter company activities?
#225872
05/02/2020 09:48 AM
05/02/2020 09:48 AM
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Joined: Oct 2003
Posts: 646 MD, USA
polaris
OP
Traveler
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OP
Traveler
Joined: Oct 2003
Posts: 646
MD, USA
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Just wondering what the charter companies are doing while all their boats are in port. We know that (just about) every boat needs some kind of repair so are they using this time to get every boat thoroughly ready, or, is this a time that no-revenue means no-work? After chartering starts again should be expect boats to be in better shape or the same shape as when they were docked?
On the financial side, Moorings gives a "guaranteed" income to boat owners - is that happening, or do they have an escape clause for this situation? On the other hand, the so-called second tier companies put the revenue and expenses on the boat owners so am wondering if some of those companies, and their boat owners, are going to survive long enough to get back in business.
Stay safe out there.
Polaris
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Re: Charter company activities?
[Re: polaris]
#225874
05/02/2020 09:59 AM
05/02/2020 09:59 AM
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Joined: Mar 2012
Posts: 833 Redmond, WA
MrEZgoin
Traveler
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Traveler
Joined: Mar 2012
Posts: 833
Redmond, WA
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They have been paying and haven't given any indication to me that they will not continue to do so.
M4000 "Lio Kai"
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Re: Charter company activities?
[Re: warren460]
#225889
05/02/2020 12:24 PM
05/02/2020 12:24 PM
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Joined: Sep 2010
Posts: 5,720 Massachusetts
maytrix
Traveler
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Traveler
Joined: Sep 2010
Posts: 5,720
Massachusetts
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How long can the moorings fund guaranteed payments with no revenue coming in?
I have heard that navigare and dream suspended guaranteed payments.
As George pointed out, things are moving to the low season. I think the real question is what percentage of their revenue is made up in the months they'll be closed?
Matt
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Re: Charter company activities?
[Re: polaris]
#225969
05/03/2020 08:12 PM
05/03/2020 08:12 PM
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Joined: Mar 2012
Posts: 833 Redmond, WA
MrEZgoin
Traveler
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Traveler
Joined: Mar 2012
Posts: 833
Redmond, WA
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If I (as a Moorings owner) was given the proposal that DYC does in the above link, I wouldn't be thrilled, but I would have to consider it.
I don't know the DYC contract, but Moorings yacht management contract does allow for either party to terminate with 6 months notice AFAIR. I'd probably rather take the suspension/contract extension than an early termination. YMMV.
M4000 "Lio Kai"
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