Ince & Co - International Law Firm
Last night two members of our editorial & news team were delighted to attend a series of short presentations focusing on three different, but vitally important aspects of the superyacht industry, namely broking, crewing and registering with flag states at Ince & Co's 'Turning the dream into reality II' event in London.
The first presentation of the evening was taken by Andrew Charlier of Ince & Co. The principal focus of the discussion was the French flag, and how the French have tried to make their flag a more desirable option for superyacht owners and management companies. With the French Riviera consistently one of the most popular cruising destinations for owners and charter yachts the French apparently feel that they would prefer more yachts to be registered under a French flag, and to create some direct competition with the Red Ensign. To that end they have redesigned the regulations and requirements for registering with their flag, in the hope of attracting more vessels, both commercial and recreational. It was the opinion of the speaker that while this has gone some way to make it more desirable, it is only a step in the right direction and, as yet, has not led to a dramatic take-up of the French flag by vessels.
The second speaker was Dieter Jaenicke, MD of Viking Recruitment, who presented the group with an overview of crew issues, in terms of both how and why crew themselves go into the superyacht industry and more general crewing issues. Interesting points brought up by this discussion included the need for the superyacht industry to create a dedicated forum for training crew itself, rather than being overly reliant on more general maritime training schemes to supply the industry. Also mentioned was the fact that some crew find that despite considerable investment in terms of time and money, as well as a raft of qualifications, good jobs can still be hard to come by. Talking to attendees afterwards, it appears this is a problem that we may expect to increase with seemingly less yachts taking to the water and as a result more competition for positions.
The final talk was held by Stephen Abery of Fraser Yachts, as he described the approach and basis for good brokering in the market. In particular citing the need to listen to clients, but with an awareness that sometimes what people initially believe they want is not always what its best suited to them. This is of course where the role of the broker becomes important, as they act not only as a intermediary between the parties involved in the sale, but as a key adviser for owner in general, aiming to give clients sound advice and options throughout the life of a project.
With drinks provided throughout and followed by a light supper, both myself, and Ellie Brade, Research Editor, would like to express our thanks to Ince & Co for putting on the event. It proved to be a very good opportunity to meet and discuss important current issues, at a time of rapid industry change.
Adam Turner: Synfo
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