Yacht Management Services
Praxis Yacht Services can support private and corporate owners, trustees, family offices and captains with a range of yacht management services to support their day-to-day operational requirements.
Drawing on in-house expertise across our offices, the yacht management team holds the necessary qualifications and experience to deliver the highest levels of service to clients with the added benefit of providing a one stop shop for all structuring requirements. This eliminates the duplication and additional costs often associated when corporate and yacht management services are separated.
There are several services that make up yacht management, with options available for the provision of individual elements or the full suite depending on the needs of the individual client and their yacht.
Our key yacht management services cover the following areas:
- We advise clients on the most appropriate choice of flag, arrange the registration through a wide range of flag registries, organise surveyors, radio licences, MMSI/call signs and carving and marking notes.
- We provide ongoing day-to-day management including renewals, changes to registration, local representatives and any requisite surveys.
- In conjunction with the appointed central agent, Praxis Yacht Services will manage the financial arrangements for the yacht, including the appointment of the fiscal agents and the ongoing management of the charter fees, APA and any applicable VAT requirements.
- One of the most important aspects of the yacht operations is the financial management and the production of reports to the beneficial owner in line with pre-agreed budgets. Our dedicated finance team provides the full spectrum of financial reporting from both the corporate and yacht management aspects of the structure.
- Praxis Yacht Services provides the full suite of management services for crew from the initial recruitment and vetting through to the in-house employment and payroll arrangements.
- We can also take care of social security arrangements, crew travel, leave tracking and crew training and certification.
- With a full crew management service or just employment and payroll we can cater for all requirements.
- Depending on the size of the yacht, we can provide a tailored, recognised safety management system that ensures the yacht is operated in compliance with applicable legislative and regulatory requirements in relation to vessel maintenance, manning, health and safety, security and marine environment.
- Our internal audit and inspection regime ensures that the system is implemented and maintained by the captain and crew.
- An integral part of the management system is the monitoring of the various vessel and crew certifications and documentation that must be kept up to date and valid.
- With the maritime regulatory framework having become increasingly complex, keeping track of all administrative tasks is of paramount importance and our systems are designed to do just that.
- From arranging berths, fuel oil or provisions to replacement parts for repairs and mail forwarding, Praxis Yacht Services has experienced personnel ready to assist the captain and chief engineer with any requirements they may have.
- We can source the most suitable options, whether based on price, delivery time or proximity to the vessel, for consideration by those making the ultimate decision.
- Praxis Yacht Services can ensure that an up-to-date inventory of fixtures, fittings, machinery, equipment and spares is available and maintained and that a suitable (planned) maintenance regime is introduced to ensure that the vessel remains in the best possible operational condition and state of repair.
- We can advise on suitable software that will assist in implementing both the maintenance plan and the inventory.
- We can assist the captain with the planning of in-water maintenance, refit periods and dry dockings.
Contact our dedicated Yacht Services team and set sail with confidence
Our comprehensive range of services is ideally suited to support owners seeking to build their dream superyacht, or extensively modify and convert their existing vessel.