The operating costs of Explorer Yachts: What you need to know
Owning an explorer yacht is a long-cherished dream for many adventurers. But before you dive into this luxurious adventure, you should be aware of the operating costs associated with owning and maintaining such a vessel. In this blog post, we'll take a closer look at the various cost factors and how they affect the total cost of ownership of explorer yachts.
Salaries for the crew
Crew are an essential part of yacht operations, and their salaries are a major cost. Experienced crew members such as captains, officers, engineers and stewards are well paid, and their salaries vary depending on the size and type of yacht. To save costs, choose an appropriate size crew to meet your needs and make sure their skills and experience match the needs of your yacht.
Fuel consumption and efficiency
Explorer yachts are displacement vessels designed specifically for long-distance cruising. For this reason, fuel consumption plays a crucial role. Consumption depends on various factors, such as speed and weather conditions. However, it is possible to minimize fuel consumption by selecting an appropriate ship design. For example, a Bering B70 consumes only 20l/h combined at a cruising speed of 8.5 knots, which is very economical for a vessel of this size. The current price of fuel in Gibralter is about 1.1€/l (as of April 2023).
Maintenance and repairs
Regular maintenance is essential to keep your Explorer yacht in top condition. This includes engine maintenance, cleaning, antifouling coating (approx. every 2 years) and checking the safety systems. To avoid unexpected repair costs, create and follow a preventive maintenance plan based on the manufacturer's recommendations. New construction projects are often covered by the factory warranty.
Insurance
Insurance is important when owning an explorer yacht. Premiums depend on factors such as value, cruising area, and safety level. Steel vessels are less expensive than GRP vessels. Private use is cheaper than commercial charter operations. Compare quotes to find the right insurance package.
Berth and storage
Mooring fees and storage costs are other cost factors in owning an Explorer yacht. Costs vary depending on the size of the yacht, location and season. To optimize these costs, plan your itineraries carefully and use less expensive marinas in less frequented areas.
Communication and navigation systems
Modern communication and navigation systems are essential for the safe operation of explorer yachts. In particular, communication at sea plays an important role in keeping in touch with other vessels and the coastal station. Currently, most yachts rely on low-orbit satellite internet, as it is more cost-effective compared to traditional satellite links and is already widely available. Navigation has also become easier with modern systems, as they allow precise positioning and accurate route planning.
Customs and immigration fees
When exploring new areas, yacht owners face customs and immigration fees. Costs vary depending on the countries visited and the length of stay.
Conclusion:
With the necessary knowledge of operating costs, you can make an informed decision and enjoy your adventure on the high seas to the fullest. Through careful planning, conscious selection of equipment and services, and regular maintenance, you can optimize the operating costs of your Explorer Yacht and have the adventure of a lifetime.
