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Are there too many newbie’s?
Septic tank
Posted: Saturday, September 25, 2010 3:08 PM
Joined: 02/11/2009
Posts: 79


Each year there seems to be more and more people trying to get into the business. Has yachting reached saturation point, is there an over abundance entry level crew? How do crew agents deal with the masses of newbie’s?
Rusty Wrench
Posted: Saturday, September 25, 2010 3:39 PM
Joined: 21/09/2010
Posts: 207


Saturation point only exists in physics and chemistry, nowhere else. A visit to any electrical goods store anywhere in the world you will see TV sets by the dozen. One would think the market is saturated? apparently not. Supply and demand is always at work until government becomes involved.....
junior
Posted: Saturday, September 25, 2010 5:50 PM
Joined: 14/01/2009
Posts: 1026


Not to worry...Yachting has already reached saturation point. Virtually all West Med ports are 100 percent full . Ports have very limited opportunity to expand. The supply and demand equation , plus an end to the free money vacuumed out of the pockets of pensioners by city wide boys, is already tempering the yacht infestation . On the supply and demand side we are sub letting our prime west Med berth, located in a marina which is FULLY BOOKED for the next 4 years, at six and a half euro per square meter, per night. That's 1100 euro per night, plus tax and utilities , for the owner of the Pershing motoryacht who decided it was a good time to empty his wallet and rent it for the summer. Very soon the whole yacht bubble will collapse , just as the proliferation of Superyacht academies who were established to feed crew into the voracious jaws of a superyacht industry which was projected to double in size every 7 years. Perhaps Newbies will soon be rallying to new super ports in Algeria
Rusty Wrench
Posted: Saturday, September 25, 2010 6:46 PM
Joined: 21/09/2010
Posts: 207


Exactly. Almost zero room for new yacht marina contruction on the French coastline, however, the Italians have been furtively building new yacht marinas for several years all down their west coast, somewhat satisfying the supply side of the equation and therefore maintaining high prices when it comes to the 'demand' in yachting. Cyprus planning for big yacht marinas too. Funny how it's cheap to park a fishing boat, but expensive for yachts?

Once the 'traditional' locations are fully occupied, new places/countries will be then be the next 'hot' location for yachts.

If yachting had already reached 'saturation point' we would see a big downward correction in prices for just about everything.   


junior
Posted: Saturday, September 25, 2010 8:05 PM
Joined: 14/01/2009
Posts: 1026


The same supply and demand equation is going to whack the Commercially registered super charter yacht fleet. Everyone and their grandmother built a 40 meter to work this trade. The market is so cannibalized, so crowded that I see Frasers just awarded their yearly Gold Medal atta' boy award to a yacht who did SIX WEEKS of charter this summer ? That revenue wont even cover West Med berth rental. The Bubble is bursting..... Gonna be a shake out .
Rusty Wrench
Posted: Saturday, September 25, 2010 8:36 PM
Joined: 21/09/2010
Posts: 207


Only time will tell. New markets/customers are appearing all the time. Only a few Years ago the Russian (buyers) invasion began, and still continues today. Now we see the new millionaires/billionaires from China/India entering the business. With them comes new ideas/needs/demands, etc, etc. Far too easy to comment only about the past; the 'heydays', 'glorydays', ranting on about how good it used to be, yet totally oblivious to the inevitable changes, and quite likely resenting and resisting them every step of the way.
Rusty Wrench
Posted: Saturday, September 25, 2010 8:49 PM
Joined: 21/09/2010
Posts: 207


And another thing. You seem to forget we are not commenting about ordinary folks with ordinary sums of money. The owners of the gin-palace stench-pots and the fancy fuel bowsers fitted with a sailing mast are some of the weathiest recession proof individuals in the world who enjoy spending lots of money on such unneccessary toys.
Anonymous
Posted: Sunday, September 26, 2010 3:49 PM
No, quality, certification, experience, work ethic, that's what counts. The economical situation makes it only harder for newbies to enter the industry.
junior
Posted: Sunday, September 26, 2010 4:08 PM
Joined: 14/01/2009
Posts: 1026


It has little to do with economics and millionaires. The prime yachting "turf" is saturated. Wealthy people don't buy yachts because they have money, they buy them for the unique experience that only a yacht can provide for their family summer holiday. This " Unique " experience has already been commoditized and corroded by over saturation. Look at a place like the high season South of France....bow to stern convoys of super yachts, paralleling the coast , then anchoring in vast 500 million dollar herds. I dont own a yacht, I respond to what the owner and guests desire and they have not sent me to the South of France, the Italian Riviera or Sardinia in ten years.. They don't like the crowds, the lack of anything unique, the supply and demand mentality implied with everything you want to do in the West Med. . This is what will limit the employment oppurtunities and expectations of young crew who are now entering yachting.
rodsteel
Posted: Sunday, September 26, 2010 5:51 PM
Joined: 25/06/2009
Posts: 277


Junior,

 

Is the Mediterranean the only desirable location in the world for summer-time yachting? Are there other locations that would be just as desirable if the infrastructure was available (i.e., where will the marinas, casinos and resorts go next )?

 

Rod

 


junior
Posted: Sunday, September 26, 2010 6:56 PM
Joined: 14/01/2009
Posts: 1026


Yes indeed, The world is a big place. Unfortunately, Mainstream yachting , the market which new crew have no choice but to enter, the market all yacht builders target , is compressed into the West Med. Something like 75 percent of all charter activity takes place in this area. . The region is popular because guests can fly to the yacht without spending two or three days in airplanes ,in transit , then relax within a culture they understand. . Next time you do a circumnavigation or long distance cruise listen carefully to what the owner and guests are telling you. Their two week holiday becomes tiresome, uncertain and jet lagged. Also consider that wealthy people are also normal people. They must respond to the seasons. Kids out of school during summer , then choose a natural summer destination. Very few of my guests even consider winter cruising because they have a long tradition of spending winter on the ski slopes in Switzerland.
Rusty Wrench
Posted: Sunday, September 26, 2010 9:04 PM
Joined: 21/09/2010
Posts: 207


junior's quote; ''Wealthy people don't buy yachts because they have money, they buy them for the unique experience that only a yacht can provide for their family summer holiday. This " Unique " experience has already been commoditized and corroded by over saturation''. Sir, your statement merits ridicule. It would appear the very weathly people seem to be fully aware of the expenses/hassle involved in owning/operating a yacht. If this were not the case, we would surely witness, and also very much experience the progressive and rapid decline in the yacht industry. Consider all the above in comparison to the progressive and sustained growth we have all enjoyed during the last couple of decades employed in this rather lucrative occupation.
Dave
Posted: Tuesday, September 28, 2010 1:59 PM
Joined: 22/06/2008
Posts: 18


So... Junior..... just to clarify..... was Frasers Golden Attaboy award for the number of charters done, or the QUALITY of the experience that the guests recieved? If its volume, then a Peter Hughes vessel would win every year. And secondly, its Frasers Attaboy awards, so they can and do set the criteria. Not your brightest comment that one. Sad.
Anonymous
Posted: Tuesday, September 28, 2010 3:01 PM
Yes, there are too many Newbies......to many unlikely candidates as well.
Rusty Wrench
Posted: Tuesday, September 28, 2010 5:33 PM
Joined: 21/09/2010
Posts: 207


Exactly. Getting back on topic 'are there too many newbies'? Something of a pointless question really, and most likely posed by those who are insecure with thier abilities and feel threatened by imagined hoards of newbies swooping in to steal jobs... It matters not the quantity of people attempting to enter the business, more important is the quality of those who succeed, survive and ultimately stay long term.
junior
Posted: Tuesday, September 28, 2010 6:22 PM
Joined: 14/01/2009
Posts: 1026


Well said rusty.....and what exactly is a Newbie ? The yachting industry has always and will always need a steady supply of summer, seasonal, stewardess's and deckhands. Are these Newbies ? Are they in excess ? Remember back only three years ago when it was very difficult to recruit a beginner summer crewmember ? In spring, when I went thru a shipyard schedule, I didn't see an oversupply in relation to the demand at the shipyard....looked about normal to me. I did observe that many of these new comers were void of hands on experience, but carried expensive STCW 95 and yachtmaster certificates . contrast this to 15 years ago when a young kid, looking for their first seasons experience , appeared behind the boat with only a pair of deckshoes as a calling card. Perhaps there is an oversupply of inexperienced yachtmasters with nowhere to go.
Rusty Wrench
Posted: Tuesday, September 28, 2010 9:02 PM
Joined: 21/09/2010
Posts: 207


Correction junior; it's Rusty with a capital "Ahhrhh!''
junior
Posted: Tuesday, September 28, 2010 10:10 PM
Joined: 14/01/2009
Posts: 1026


Oh...sorry bought dat'..... green radar glow reflection on the computer screen. Dat' be Crusty with a capital " C"
Rusty Wrench
Posted: Tuesday, September 28, 2010 10:33 PM
Joined: 21/09/2010
Posts: 207


"Crusty?" easy on the rum there junior, slurring a tad, eh?
 
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