Owning and managing a luxury yacht is an increasingly elaborate business. Managing over a fleet of over 100 yachts for Owners of yachts from 24m (79’), our management team is comprised of highly qualified personnel who can offer support and advice to yacht owners and their captains to ensure that the yacht is being maintained, administered and operated to the highest standards.
Our role as your yacht manager
When you choose Fraser as your yacht management company, your yacht is assigned to a dedicated team of highly qualified Yacht Managers who will act as the Owner’s representatives across the full spectrum of the yacht’s operations. Our close relationships with shipyards, designers, naval architects and other suppliers enable our team to keep up to date with the many types of vessel. We stay abreast of how to run them efficiently alongside the ever-changing technical, administrative and regulatory standards. You can be assured that our staff will work with you and your team to make sure that the yacht is operated safely and efficiently.
Our yacht services
Fraser offers a full range of superyacht management services capable of handling the full spectrum of large yacht operations, allowing us to individually tailor the specific support and services needed by the Owner. From financial reporting to the supervision of yard time, our team has the specific knowledge and experience to deliver the highest caliber support. Effective checks and balances, both operationally and financially, give the Owner peace of mind that the yacht and crew is operating safely and efficiently.
Using a dedicated bank account for each yacht and working from an annual budget agreed with Captain and Owner, the Yacht Management team will handle the entire financial management of the yacht’s expenditures. The Yacht Manager will administer expenditures against specific categories, pay bills and reconcile bank statements and credit cards. Production of monthly, quarterly and annual reports will occur, comparing the actual operating costs to the budget with detailed explanations as appropriate where variances have occurred. The Yacht Management team will operate with the utmost integrity and ethics, assuring transparency in all aspects of the vessel accounting.
Fraser maintains an established Safety Management System (SMS), customised for each vessel according to the specific operations and arrangements on board. With expertise in the international codes and conventions for safety, security and maritime labour (ISM, ISPS & MLC), as well as the specific requirements of each Flag State, our team has developed one of the most effective Safety Management Systems in the industry. Our SMS is externally audited and provides for a continuous cycle of improvement. The system requires reporting from each vessel to highlight deficiencies and ensure appropriate corrective and preventative actions are taken. Internal audits are carried out on board by a Safety Superintendent to verify the vessel is operating in accordance with the SMS, and to provide an opportunity for crew training and encouraging high standards of safety and compliance. Fraser currently holds 13 Documents of Compliance (DOCs) with 9 Flag States, and has authorisation to manage ship types including Commercial Yachts, Passenger Yachts, Research Vessels and Special Purpose Ships. This allows for a smooth transition of an existing vessel into the Fraser managed fleet.
In the technical and maintenance arena, the diverse backgrounds and practical experience of our staff provide a wealth of knowledge. Through visits to the yacht and working with the Captain in the selection and monitoring of vendors, contractors and shipyards, our staff will help to align maintenance and repair work with the budget and cruising itinerary. Fraser’s operations team will conduct a periodic review of vessel upkeep, planned maintenance schedules and other issues affecting safety and vessel operation, providing a written report of vessel status. Fraser can also assist the Captain and Owner with yacht registration and classification.
Fraser takes a proactive approach to our relationship with the insurance providers for our yachts. We work closely with a number of insurance brokers and conduct regular reviews of hull and machinery and indemnity policies as well as crew health insurance.
Fraser will assist owners and their Captains with recruitment, reference and certification checking and ensure medical certificates are valid. On recruitment of each crew member, we will check their certificates and documents to ensure validity and if requested we will carry out pre-employment verification. They will then be given an approved Employment Agreement. On an ongoing basis, Fraser will administer crew salaries, make travel arrangements if required and handle any crew related insurance matters. Learn more about our crew administration services.
A luxury yacht is nothing without an exceptionally skilled and experienced crew. Working closely with our sister company The Crew Network, the world’s leading crew agency with a wealth of experience in yachting, Fraser is uniquely placed to assist the Owner in finding the perfect crew. Selecting candidates from a global database of over 45,000 crew members, potential crew members are interviewed and screened to ensure we find the best people to run your yacht to the highest of standards. Learn more about our crew placement services.
09 February 2021
27 February 2021