TravelTalkOnline Forums Travel and Vacation Forums British Virgin Islands Charter company activities?

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.

They have been paying and haven't given any indication to me that they will not continue to do so.

The Moorings has stated they are performing maintenance on the boats. How much remains to be seen. They are paying the owners on guaranteed income programs and state they plan to continue to do so per the contracts. The timing off this was actually pretty good as the shutdowns occurred heading into the low season. I have always believed that selling boats is the main revenue driver for the Moorings and they are stating sales are strong. I came very close to going with a shared revenue program even though the last time I did so was a disaster even though the boat had very strong bookings.. I am very glad I did not make that choice again.
G

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?

I have just been told that private yachts cannot leave the BVI so the boats are captive as are folks like me want to leave. REALLY sucks!

Ahoy Captains,
Three Deposits for next season in this week.
Pre-Purchase Survey for a Lagoon 440 with AirCon next week.
Leopard 39 due in from South Africa next month.
Ready to run Yachts to/from STT for Owner Time as soon as Residents are allowed to travel in/out.
Interesting conversation regarding ‘Guaranteed’ Income - https://www.cruisersforum.com/forum...teed-charter-income-payments-232097.html
Fair Winds, Brent from thecaptainscompass.com

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.

If the Moorings can continue to make owner payments as they state they will it puts them in a great position regarding future yacht sales. If DYC is suspending owner payments I can’t imagine who would purchase a boat in the future from them.
G

Navigate too, or so I hear.