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33 members (geomo, JohnW, BetsyandBob, KirkB, MrEZgoin, SeeDiver, eightzerobits, 706jim, SXMScubaman, Kennys, jbutah, rkitek, GeorgeC1, nevar37, NumberCruncher, jenniboston, VirginGordaResident, Car4, Matt W, Alltech63, pony600, RickinAtlanta, 11 invisible),
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Joined: Dec 2000
Posts: 286
Traveler
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OP
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Joined: Dec 2000
Posts: 286 |
Does anyone have an update about the situation with payments coming form charter companies - in particular in regard to guaranteed monthly payments?
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Joined: Apr 2002
Posts: 7,190 Likes: 2
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Traveler
Joined: Apr 2002
Posts: 7,190 Likes: 2 |
My contract with the Moorings ended in July. They made every payment over the 5 year contract on time.
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Joined: Oct 2005
Posts: 590
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Traveler
Joined: Oct 2005
Posts: 590 |
I am with Marine Max and all payments have been made and on time.
Ellen
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Joined: Jul 2020
Posts: 556 Likes: 1
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Traveler
Joined: Jul 2020
Posts: 556 Likes: 1 |
Moorings is current with our monthly payments.
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Joined: Dec 2000
Posts: 286
Traveler
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OP
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Joined: Dec 2000
Posts: 286 |
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Joined: Dec 2018
Posts: 1,450
Traveler
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Joined: Dec 2018
Posts: 1,450 |
My contract with the Moorings ended in July. They made every payment over the 5 year contract on time. You are welcome my friend...glad I could spot them an interest free loan for you...:)
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Joined: Apr 2002
Posts: 7,190 Likes: 2
Traveler
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Traveler
Joined: Apr 2002
Posts: 7,190 Likes: 2 |
I suspect just the profit they made when I bought the boat pretty much covered their costs in paying. The Moorings business model is about selling boats not renting them. Had they stopped owner payments they probably would have lost the company. The Moorings has been swamped with calls from owners at other companies begging them to take the boats into their fleet. They are not doing that because as I mentioned the profit is in selling boats. With the volume of boats they order each year I suspect the markup is at least 40%. Rental income is however on the rise as other locations are opening up. It will be interesting to see what the Moorings does with the BVI fleet as it looks like this season is done. I hope they consider a few true US bases rather than partnerships. Since Covid is here to stay I think Miami and Key West are both opportunities and some boats could be flowed up to the NE in the winter.
Last edited by GeorgeC1; 10/19/2020 03:53 PM.
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Joined: Dec 2018
Posts: 1,450
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Traveler
Joined: Dec 2018
Posts: 1,450 |
In the short term they had to take the owners side...it will be interesting to see how the long term plays out.
Moorings can sell all the boats they want as long as charterers will pay the buyers leases...and it will be interesting if BVI doesn't open until next season with what they will do with the credits
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Joined: Mar 2012
Posts: 891
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Traveler
Joined: Mar 2012
Posts: 891 |
In the short term they had to take the owners side...it will be interesting to see how the long term plays out.
Moorings can sell all the boats they want as long as charterers will pay the buyers leases...and it will be interesting if BVI doesn't open until next season with what they will do with the credits I doubt this was an either/or choice. There are contracts on both sides. Are you saying they violated their contract with you by not returning a deposit?
M4000 "Lio Kai"
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Joined: Dec 2018
Posts: 1,450
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Joined: Dec 2018
Posts: 1,450 |
Not at all...they didn't violate their contract with me.
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