Yacht Management (superyachtcrewagency.com)
So you have a few hundred million dollars lying around and felt the urge to buy a nice new shinny Yacht. With that purchase comes a lot of responsibilities. But as aYacht Owner who has time for that, nobody, right! Thats where a highly skilled Yacht management team, as a solution to this, is allotting a separate company to take care of your yacht in all aspects. What a yacht management company can do for you is recruit a crew for the management of the yacht, look over security measures, and pay suppliers. You can decide if you wish to employ a business that can take care of all your superyacht management requirements or hire individual experts for each field. Either way, yacht management is the best way to maintain your yacht without actually having to move a finger. But if you’re not sold, then listed below is what yacht management looks like up close.
1. YACHT MANAGER ROLE

A yacht manager is in charge of the yacht. The significant decisions and overall functioning of the yacht are supervised by yacht managers, who are also the primary point of contact for owners like you to report the essentials. However, you should make sure that your manager is a team player and a good leader. He/She should be able to handle multitasking and must have excellent communication skills. These skills will allow them in executing successful operations management and overseeing the security and technical aspects. However, your yacht manager needs to be more than just a manager. Your yacht manager is either a chief mate or a master mariner. A chief mate is a licensed mariner for merchant ships while a master mariner is a licensed mariner that can captain any marine vessel and especially merchant ships. Furthermore, a yacht manager needs to be acquainted with ISM, ISPS, and SOLAS codes that cover safety measures and rules and regulations regarding marine vessels.
2. YACHT MANAGEMENT SERVICES
Depending on the company you choose for your yacht management, yacht services will vary. However, most companies allow you to tailor your superyacht management needs. Your yacht management can take care of simple things from catering for parties and the financial costs for yacht maintenance to repairs and other expenses of living. Yacht services also include staff for security and safety measures and a crew to handle the technical side. Simple things like housekeeping to more critical matters like budget and yacht insurance are also carried out through yacht management services. Yacht services include all kinds of catering that you would expect from a hotel, but the only difference is that it is on water (and hence, yacht services also include emergency response services in case of any mishap).
3. YACHT ACCOUNTING AND FINANCIAL MANAGEMENT

Every yacht service carried out by the superyacht management, and crew is accounted for by them. Some of the obvious expenditures include maintenance and repair of the yacht. Others include general everyday transactions for the running of the yacht and stipends for the crew. For general transactions, setting up a separate bank account in a common currency (like EUR) allows more manageable payment. According to your preference, you can keep a check on all the expenditures on a weekly, monthly, or annual basis. A comparison of the budget and the amount spent is also shown to see whether there has been adherence to the budget or whether yacht maintenance will need a higher capital. Keeping a check on the accounts of the yacht is of utmost importance. Allowing a proper accountant to carry this out is also a good idea for increased validation. If not, then yacht crew members can always maintain an accounts book.
4. SAFETY MANAGEMENT (ISM AND ISPS)

All marine vessels, including your yacht, have to follow safety protocols at sea. The most vital of these are the International Safety Management (ISM) Code and the International Ship and Port Facility Security (ISPS) Code, which your yacht manager should be well versed with. The ISM Code was implemented by the International Maritime Organisation (IMO) to maintain an international standard set of safety and pollution prevention rules. The ISPS Code, which is an amendment of Safety of Life at Sea (SOLAS), deals with the minimum safety requirements. Governments and marine vessels (like your yacht) are supposed to adhere to these. Preventative measures are taken if safety requirements are not adhered to.
5. TECHNICAL SUPPORT MANAGEMENT
Technical support management encompasses each and every aspect that allows a yacht to function safely. It includes maintenance and upkeep, repair and fixing, scheduled servicing, buying equipment, and spare parts required on board from vendors and outsourcing captains for safe handling.In case of a sudden mishap, the technical support team can provide a blueprint for each and every part of the ship along with spare parts for fixing while simultaneously trying to get in touch with nearby coats or vessels. This way, technical management can help with multiple security solutions.
6. YACHT PLANNED MAINTENANCE
Much like any machinery requires frequent servicing to fix any possible problems and boost functionality, yachts need servicing as well known as planned maintenance. Since the risks of yachts at sea are relatively higher, yacht maintenance sessions have to be met according to plan in order to not compromise on safety and security in any way and stay out of risks. Superyacht management sets up a crew to make a plan that best suits a yacht and calls in experts to check the overall condition of the yacht and where it needs servicing.
7. YACHT INSURANCE
Yachts cost a fortune, but if there’s any kind of damage that needs repairing, then that will amount to way too much. Hence, yacht insurance is essential. Yacht management companies usually have tie-ups with numerous insurance brokers and can help you with the kind of insurance you intend for your yacht.
8. CREW RECRUITMENT AND PLACEMENT
Having to recruit a reliable crew for a yacht is an exceedingly challenging task. While some crew members aren’t qualified for the job, the ones that are qualified may leave for a better opportunity anytime. As an owner, you should make sure that all your crew members are equipped with the basic safety training, namely, Standards of Training, Certification and Watchkeeping for Seafarers (STCW), etc. The owner and captain or yacht manager should be present to properly interview and accordingly screen candidates who apply to be part of the crew. Yacht Management Jobs are also a great way for crew to transfer to a shore based career. 
9. CREW MANAGEMENT AND PAYROLL
The crew must be recruited carefully after medical checkups and document verification. Since it is quite difficult to actually get employed as a permanent crew member of a yacht with the STCW certification costing nearly $1000 to attain, crew members are usually given fringe benefits, like no excused living costs and zero travel charges.
10. LUXURY YACHT MANAGEMENT

While owning a yacht is the easy part, managing one is hard. As mentioned before, recruiting yacht management companies allows you to maintain your yacht in its best condition without having to do much yourself. As an owner, you can be as involved as you wish and step out completely. But when you’ll need your yacht, crew management will have everything set as you wish. Luxury yacht management, however, costs more in the long run than buying a yacht.
11. YACHT OPERATIONS MANAGEMENT
The yacht operations management side of things includes everything that makes you, the owner, and your yacht look presentable. The yacht management company that you decide to employ should have crew members that can converse in various languages to assist your guests with kindness and conversation. Your crew should make sure that the presentation of the yacht is on point. There should be an itinerary ready and available to everyone on the yacht as a guide. Some crew members can brief people about the ports and local cities as well to enhance the overall experience. These are some of the basic tasks that a yacht operations management team should be able to put together.
12. YACHT MANAGEMENT TEAM
A yacht management team includes every member besides the owner who has a role to play on the yacht. Every crew member of the yacht management - members who are part of the technical support management, yacht maintenance engineers and experts, finance and accounting team members, insurance brokers and yacht manager or captain of the yacht makes the entire yacht management team.
13. YACHT REFITTING
Yacht refitting is like a complete remodeling of your yacht. However, a refitting involves more than just a change in decor. It includes repairs, maintenance, renovation, servicing, remodeling, reconstruction, and any other possible improvements. Usually, there are two primary reasons for yacht refits. When yachts age, their different parts age as well and slowly, your yacht starts to fall apart. A proper refitting, however, can get rid of all these problems and make it look new as ever! A second prominent reason for yacht refitting is when there’s a change in ownership. If a yacht is sold or auctioned off, then the new owner usually opts for a yacht refitting to showcase the change in ownership and readjust it according to their own likes and preferences.

14. NEW BUILD PROJECT MANAGEMENT
New build project management is when yachts are built from scratch. There are many companies that fabricate yachts from scratch. But one of the best manufacturers that’s known for producing some of the finest luxury superyachts is Amels. They have recently emerged with a full custom yacht as well! Other prominent luxury superyacht builder companies include Feadship, and Heesen Yachts.

15. YACHT SUPPORT
Yacht support allows an extended journey of your yacht experience. Released by Damen, a yacht called ’New Frontier’ came into existence. While there are many other support vessels, this one has remained the market leader amongst all fellow yacht management companies.
16. REGISTRATION AND VAT
The registration of yachts requires many legal procedures. Along with setting the right port facility as an owner or captain of a yacht, it also has to be registered under the tag of a commercial yacht or one for private usage. Yacht management can help with the legal procedures and paperwork for the registration of your yacht.
17. CHARTER MANAGEMENT

You’re probably not using your yacht every day of every week. A great idea for your private yacht in such cases is to convert it into a commercial yacht. The idea is that a charter management company and the owner of a yacht can conduct a commercial transfer after registration. The yacht owner can save money from maintenance, technical support, security, and safety measures, which makes for a great way to generate some business as well.
Yacht Management Companies
As an Owner or potential new Owner of a Superyacht one of the first things you will look into is a Yacht builder. We have prepared a list of the Top 10 Superyacht Builders for 2019. Yacht Management Companies usually come a close second after deciding to take the plunge into buying a Yacht. Who will take care of all the task involve whether it be a new build or second hand, experience in Finance and running costs, maintenance, safety, technical support, crew, guest and hotel services. The list is never ending when it comes to maintain and running a Superyacht. That’s why it's important to find the Best Yacht Management Company for your every need whether it be budget or quality.