New Build and Refit Management
Our unique array of services, Yacht Ownership, Management and Crew Management, are ideally suited to provide comprehensive support to an Owner seeking to build their dream yacht, or extensively modify and convert their existing vessel.
Thanks to our considerable experience and often long-established relationships with constructions yards, designers, naval architects, major subcontractors etc, we are able to offer the advice Owners need to guide them through the build process, together with the on-site monitoring and supervision required to ensure the project remains on track and ends delivers the desired outcome - their private ultra-luxury holiday resort afloat.
There is a lot to think about at each stage of the process. Sarnia Yachts can bring in the necessary skills at the appropriate time, from early concept right through to delivery and beyond. Even before the Owner is given the keys to their prize asset, Sarnia Yachts is ready to support them and the yacht’s Captain and Crew to transition it into active operation, ensuring no important aspects of the initial operation are overlooked.
Sarnia Yachts can assist throughout the process:
- Work with an Owner and their advisers, to ensure the intended ownership arrangement is aligned with the Owner’s personal circumstances, and also how and where the Owner wishes to use the yacht once operational. Should an Owner not come armed with personal advisers, then we can also provide that functionality, based on our substantial experience.
- Carry out a new build contract review and advise the Owner on issues such as VAT being applied during the build, on delivery and during future ownership arrangements and operations.
- Hold early exploratory discussions about planned future operations such as commercial vs. private use, choice of Flag Registry, cruising destinations, crew composition etc.
- Assist with selecting designers, construction yards, preferred methods of construction and engineering, type of project (custom or standardised production), lead times, scheduling, etc.
- Following on from this, review the contract to ensure the yacht delivered will be legally permitted to fulfil the Owner's wishes in terms of intended use, as well as ensuring that the yacht will represent good value in terms of asset value, saleability, etc.
- Establish the appropriate ownership structure, whether this be a Company, Partnership or other arrangement.
- Ensure the owning entity is able to sign the new build contract, or have the new build contract assigned to it where it has already been entered into by the Owner.
- Manage all stage payments for the new build through the intended future owning entity, and account for these for accordingly.
- Scrutinise the contract details to ensure the clauses are reasonable and do not disadvantage the Owner unduly, in particular should build-specifications, construction and delivery milestones, or other obligations not be met on the part of the builder.
Build Stage and Pre-Delivery
- Provide experienced and dependable on-site new construction or refit supervision and management on behalf of the Owner by way of assigning a dedicated Project Manager.
- Provide regular reporting of build progress and finances associated to the Owner.
- Act as the single point of contact for both the Owner and for the yard concerning all matters relating to the construction and delivery of the yacht, thus aiding clear lines of communication.
- Advise on all insurance needs relating to the pre-delivery stage, including cover for crew working in shipyard.
- Arrange for provisional “Yacht Under Construction” Flag registration, if needed.
- Assist with planned maintenance system selection and set-up, if not supplied by the builder.
- Supply or assistance with the development of various management and operational manuals, and any plans required by applicable legislation.
- Assist with the selection and appointment of initial key members of crew on-site in the shipyard (a Chief Engineer, for example).
- Assist with the selection and appointment of a Captain (if the Owner does not already have a preferred Captain).
- Assist with the selection and appointment of the Crew.
- Assistance with Crew training (both onboard, and through the engagement of third-party specialist training as necessary).
- Supply or assistance with development of a tailored safety management system.
- Supervise the obligations on the part of the buyer such as the timely supply of ‘Owner supply’ items.
- Be in attendance for all testing and approval activities, providing quality assurance to ensure that everything has been provided and installed correctly.
- Be in attendance for all the sea trials, ensuring the yacht as a whole performs to specification.
- Arrange for the transfer from the yacht’s provisional registration to its operational registration with Flag of Choice, on delivery. These may be different, as the builder may stipulate its preferred in-build Flag in the contract.
- Arrange for all operational insurance needs when the yacht is delivered to the owning entity.
- Provide final reports regarding the completion of the build and final payments etc.
- Agree with the construction yard a list of works that will be executed post-delivery, under the warranty or other agreement that holds the builder responsible for its execution.
- Arrange for the importation of the yacht as needed post delivery.
- Arrange for a seamless transition from the in-build stage to the operational stage, especially where an Owner has decided to place the operational management of the yacht with Sarnia Yachts going forward.
- Assist the Crew with preparing the yacht for the arrival of the Owner and setting off on her maiden voyage.