Surviving Charter companies

We had a bareboat charter booked for April, 2020 with VSV (Vacances Sous Voiles) that was rescheduled to this November after the lockdowns.
We were recently informed VSV is going out of business, due to lockdowns.
We went through a broker, VI Sailing, and they are doing a great job of supporting us through all of this.

What other BVI boat charters have closed?
Any thoughts who will survive, if BVI doesn’t open up in September?

Ahoy Captain,
Booked a week in July '20 yesterday, and a week in Feb '21 last week, and a week in Jan '21 the week before.
I have survived and prospered through 9/11, the Recession, and Cat 5 Irma.
I am looking forward to offering Guests the Safest and Healthiest Vacations in the World next charter season.
Fair Winds, Brent from The Captains Compass

Two factors here: first, there has been no confirmation that the BVI will be open to tourists in September. So it's not clear how long any company needs to be able to survive.

Second factor is figuring out which companies are more or less solvent. I would wait until you know you can get in, and then see what's available.

I highly doubt the BVI will reopen before Novbember/December at the very earliest, they have been asking employers to pay stipends and look after their employees now they are telling our employees to go home.

The economy from the government side will surive so they won't budge and will let the outer islands empty of staff before they even consider opening the borders. I hope a vaccine is found as it may be the only way out for the BVI to accept travellers from the USA.

Yep. I am thinking our November trip is a no go....

As am I.

Moorings has not closed. However, I believe they have let go most of their BVI staff and crews. Some crews are basically stuck due to travel restrictions and remain living aboard. Moorings is still making monthly payments to their boat owners in spite of zero revenue. Fingers crossed BVI will open to tourists this fall.

Horizon have posted a video on their Facebook page about their current operations and they indicate a Nov 2 opening date.

The issue here is advance planning, or lack thereof. They cannot announce on Oct. 25 that American tourists can enter starting Nov. 1, with whatever restrictions are deemed necessary. They need to get their testing up and running, then announce by the end of July when different groups will be allowed in: work permit holders, right to reside, property owners, charterers, etc. Pending a Covid outbreak of other unforeseen circumstance, of course. If they already know that no how, no way will they allow anyone in before Jan. 1, then say that.

TMM is open and booking local charters in the BVI. TMM has also helped owners move boats over to the USVI if requested, while the BVI is locked down. There are several TMM boats out this week in both BVI and USVI waters.

If TMM moves a boat to the USVI how are they moving it back?
George

They let go 139 people at BVI base and are using charter credits to fund guaranteed owner payments...

A couple of local day charter companies have managed to obtain permission from the Government in the BVI and in the USVI to deliver boats between the two countries without them being required to go ashore or have any contact with people in the USVI or the BVI, depending on the final delivery destination. This allows them to return from the USVI to the BVI, or vice-versa, without the requirement to quarantine. When they do a delivery they supply the skipper and a mate for the yacht, they supply the chase boat and fuel for that and they take care of all of the clearance costs in both the BVI and USVI which represent $300.00 of the $1,800.00 total. $1500.00 is the actual delivery fee and covers the 3 people, chase boat and fuel.

A couple of TMM boats are cruising in the USVI at this time. One is Sea Tiger, whose owner Deepcut, posts here often. A mutual friend is on Sea Tiger now, torturing many of us by posting his photos on FB.

Thanks for the info. Do you have the name of the delivery company. Are there any boat disinfecting requirements?
George

Island Time out of Nanny Cay is doing the deliveries.

I believe Island Time is correct and I don't know about disinfecting procedures or requirements.

We used charter company Boats at Sea. We chartered Lady Fiona and was cancelled in early July due to covid. Horrible experience and still no deposit returned to us.
Do NOT use Boats at Sea and Lady Fiona! SHAME ON THEM!

Wow, $1,800 to move a vessel from the BVI's to the USVI. At least those with boats stranded in the BVI's have an option, that is the good news I guess.

I am just looking at the site now from some time ago as I dropped my late June Charter in March. All this is very sad. I am so sorry for all of you that own property or boats. It is just as sad for all of those that want to vacation in BVI. I will not comment on the "issues" but I do believe it is time to open up globally. That is just my little Ol' Opinion.

For me I can only say that I will not charter till I see others doing so and no issues. I am sure many others in the "same boat". I can only hope for a V curve for opening and return to some sense of normality.

I want to get back to the BVI.

$1100 to move a boat with Tendertoo

Latest government update, which did very little, allowed a few more business openings but only for 4 hours per day. That is not a recipe for success. No idea when they expect to open for tourists nor do I expect an opening soon. Sad

Government workers are getting full pay. Most stay home. No pressure on them! No pressure to open either.

I wonder how sales of new charter boats are doing.


Having 2 major business interruption events in 2.5 years must be terrible for new boat sales.

I also wonder what provides more cash flow to the charter companies. The sale of the boats or the operation of a fleet.

The Moorings which I suspect actually generates most of their profit through yacht sales is having a great sales year. In fact they are sold out on many types. The days of big price reductions on already built yachts are gone for the moment.

Dave, for us that have deposits tied up for October and November, we just have to reschedule and hope the next date goes off.

If you want to sail the USVI is still open. And it's not shabby at all.

When I ordered my new boat in July the wait time had gone from 15 months to about 5. That probably gives you a pretty good indication.

A friend of mine ordered a Lagoon 50, not for charter, about 6 months ago. Delivery was originally scheduled for August 2021 and has now slipped to September 2021. Not a bad delay given all the chaos going on. I believe 50 ft and over Lagoons are made in a different factory from < 50 ft so perhaps that is the difference.

The Lagoon 50+ is made in Bordeaux.

Our Lagoon 50 is available for charter starting in November based in St Thomas USVI.

I agree that USVI is not too shabby.

Moorings yacht sales are going very well and are in fact helping offset losses from guaranteed payment contracts.

As is the fact they held charterers money which keeps the scheme going...for now

Bailau, that is a good point. At some point, that lost revenue needs to be made up. How will the charter companies dig themselves out of that hole? Some people lost their deposits, but what about the rescheduled charters?

If past is prelude, restaurants will raise their prices to try to recover. I fear we're in for interesting times.

i was thinking more of "charter credits" as I have as opposed to forfeited deposits...but you raise a good point

I think it ends like every other ponzi scheme...

Using your restaurant analogy...imagine opening back up your restaurant and the first 6 months (and still counting) of customers eat free using the "credits" from when it was closed and you not only have your existing overhead but have now added back staff...

I don't see how they can raise prices as I cant see demand for chartering coming out of this higher than before for a multitude of reasons

Prices have to go up a cross the board. Restaurant prices, charter boat prices return to owners etc.

If owners don’t get a reasonable contribution, and likely they are not, then who would put a boat in charter.

Bailau, expect it to look like every other cash- or revenue-strapped business: deferred maintenance, cost-cutting big and small, reduced service. After Irma, no one went into this sitting on a pile of cash. I wonder what kind of financial shape the resorts are in.

I have brought this up previously but We have still not received or deposit from Charter Company Boats at Sea... Boats at Sea and 62' Lady Fiona have ignored us since July and have Not returned our Deposit!
Looking forward to going back to the BVI'S with a reputable Charter Company.

I thought you said previous you had recieved your money back but not the agents fee? So its the agents that have kept your money not the boat? Is that correct?

i watch the used cat market, good indicator of economic sentiment since the pool of interested parties is vast. it did get a bump when rates were dropped but that seems to be waning.

That's the problem... We cannot get a straight answer and when we pushed Boats at Sea for an answer that's when they went dark on us and we cannot get any feedback from Lady Fiona!