Asteria offers a broad range of services for owners of yachts, from the acquisition and registration of the yacht, to its day-to-day management and until its onward sale. Throughout the yacht’s lifetime, Asteria provides guidance and services that make owning a yacht a pleasurable experience for the owner.
To any owner, a yacht is a high-value asset that is a pleasure to own and that requires proper management and care. Whether the yacht is a hundred-meter superyacht that needs to comply with all international maritime conventions, or a small yacht that only navigates in domestic waters, registration procedures and all formalities in relation to acquisition, ownership and charter need to be observed.
A yacht is also capable of being exploited commercially, in order that the owner can recoup some of the expenses necessary for its ongoing care and maintenance.
The ownership of a yacht involves dealing with a multitude of service providers and authorities, as well as a potential customer base (if the yacht operates commercially). However, this need not be a cause for concern for an owner who may have other business commitments to attend to: a reliable yacht management company and proper coordination of all the yacht’s servicing and maintenance are available through Asteria’s own expertise and its network of professionals.
The Yachting Industry
During recent years, the yachting industry has grown significantly in Malta as well as across the Mediterranean. It is still a small industry, and key players are all very well acquainted and highly professional.
Knowledge of operational standards as well as the rules concerning the yachts (from registration, to actual navigation and ownership of a yacht) is essential to ensure a smooth and uncomplicated experience. This is why we believe that our presence at industry events is important.
Asteria makes sure to remain abreast of all developments in order to be able to provide the highest standards of service possible.
From Flag to Charter – Operational and Financial Choices
Whether an owner wishes to obtain a yacht purely for pleasure purposes, or to charter it commercially, a number of key decisions need to be taken, including the yacht-holding structure, the choice of flag, crew selection and operational models.
Asteria holds the necessary knowledge base that will enable such service provision to the best of the client’s interests, and will procure the necessary legal, financial or tax advice in order to ensure that the soundest and most feasible choices are made all along.
Cannes Yachting Festival and Monaco Yacht Show
Networking Events Yacht shows are important events that bring together service providers from different angles of the industry, as well as clientele. The key period for such events is September, when the yachting season is drawing to a close on this side of the globe. Owners should begin making plans at this time in the event that they want to change or refurbish their yacht, or if their yacht requires some crucial maintenance or repair, in preparation for the next sailing season.
After our successful attendance at the Palma Superyacht Show in April, we took the plunge and visited Cannes Yachting Festival, which was held across Vieux Port and Port Canto in Cannes this year, in order to attend several events that we were honoured to be invited to.
The variety of yachts was immense, ranging from the smallest of tenders to large motor yachts and elegant sailing yachts gracing the marinas or at anchor in the open sea. We continued to forge relationships with important contacts across the sub-Mediterranean region, where our service provision is the most significant.
The Monaco Yacht Show is the place where practically every service provider of note will be at the end of September, strengthening business ties and making new ones. Asteria already holds a number of important contacts in the areas and will be attending important meetings which will highlight salient issues in the yachting industry.
Asteria will be attending with the aim of both strengthening its direct client-base as well as offering services to like-service providers, since we believe that there are ample opportunities for synergies across the service sector.