First fractional ownership superyacht to be based in Bali
Published: Wednesday, 13 November 2013
Fractional yacht ownership, although quite common in Europe, is a new thing in Asia. However, an branch office of Werner Trotz's company, Mar Nav (short for Maritime Navigators), is set to open later this month in Bali. This office will to manage a boat to be based out of Bali and set to cruise Southeast Asian waters. Mar Nav is also hoping to attract Asian buyers into its new programme. Headquartered in Malta, Mar Nav is offering fractional superyacht ownership but with a distinct difference.
Rather than be the single owner of a large superyacht with the enormous expense of yearly upkeep, Mar Nav is promoting the idea that for about the same price of one year’s expenses on such a yacht you can get part shares in five yachts stationed in five different popular cruising grounds around the world, two in the Mediterranean, two in the Caribbean and one in Southeast Asia – a very affordable way to get into superyacht ownership. Nine shares have been proposed as the workable partnership but this may well increase as more boats join the fleet.
Mar Nav will manage the upkeep and running of the yachts and this will be much cheaper than normal as the company will be able to negotiate discounted fuel rates, insurance, technical support and spares on a fleet basis.
Crews will be recruited on permanent lwhich will also create greater greater loyalty. Owners will get to know their people better and provide a sense of continuity. Staff rotations to handle holiday and sickness leave will be far easier. This will also increase the crews' knowledge of the different boats and the different cruising areas which will in turn enhance the degree of service on board.
Owners will have their own container for storage of their personalised items such as furniture, mattresses, lines, crockery, cutlery, etc. and these will be transported to whichever yacht the particular owner has booked ahead of time and installed pending the arrival of the owner and his guests. In this way, as the owner steps aboard the yacht everything has been converted to his own specific style as if he was the outright owner. In fact, if not told otherwise, his guests will probably think that he is the ultimate owner.
Ownerships can be transferred through a holding company, also run by Trotz on behalf of the owners affording them protection from corporate liability.