YACHT MANAGEMENT
Owning a yacht is like running a business.
ODM Yachts ensures your ‘business’ runs safely, efficiently, and in a cost effective manner. We will help you maintain the value of your asset, while enabling you to take the time to enjoy the benefits of owning a yacht. A qualified and experienced professional will be assigned to its supervision in order to ensure that the high standards of the owners are replicated throughout the entire business.
Accounting
- Annual budgets and financial planning
- Monthly fund requests based on known and expected expenditure
- Generating receipts for funds and disbursements of all goods and services
- Checking invoices, generating receipts and payment of invoices
- Payment of crew salaries
- Arranging for cash to be available to captains for on board expenditures
- Checking captains’ monthly accounts
- Checking credit card statements
- Preparing monthly and quarterly statements, along with expenditure analysis
- Preparing annual financial reports
- Arranging charter APA’s for captains (if yacht put on charter market)
Crew Services
- Assisting captains in crew placement
- Verifying and renewing crew certificates of competency and licences
- Issuing captain’s and crew contracts
- Assisting and liaising with the captain on employment disputes
- Crew payroll
- General crew administration and support
- Handling of crew medical insurance and claim
Yacht Registration
- Initial registration
- Re-registration
- Name changes
- Ownership changes
Administration & Insurance
- Arranging insurance cover for the yacht and crew
- Administrating insurance policies and liaising with insurance
- Handling of claims relating to the yacht and crew
- General support for captain and crew with customs, cruising permits, shipping, port agents, travel and local contacts
Technical Management
- Planning maintenance schedules with review of their effectiveness with periodic inspections
- Appointing competent personnel to oversee the maintenance and efficiency of the vessel
- Assisting on board engineering staff with shipyard specifications and trouble shooting
- Visiting shipyards during routine dry docking
- Liaising with Class and Flag State surveyors
- Advice on maintenance and renewal of vessel certificates, licences, classification status and Flag State requirements
