Reply
 
Thread Tools Search this Thread Display Modes
 
Old 08-09-2022, 11:11 PM   #1
Veteran Member
 
City: Nuuk
Join Date: Sep 2014
Posts: 53
Thoughts on chartering?

Greetings,

I was contacted through my website today by someone with a business proposition that involves my boat... to charter Clock Work, my Nordic Tug 42.. in the north in the summer and the south in the winter, and to make the transit each way some kind of "adventure" thing. This is actually the second time I've fielded such an idea... a friend of mine with a captain's license also suggested something similar a few years ago also using Clock Work. My reply then was that that's a complication to my life I can't afford and in any case, I don't like the idea of going in to business with a friend.

To the present.. while I have some awareness there are guys out there on the lookout for good deals, a couple of recent contacts that have come in though my web portal feel a whole bunch like that Robert Allen/Nothing Down wannabe deal-maker craze from the 80's... flipper mentality (pass). So perhaps the caliber of the leads for a straight sale is shifting and my mindset should shift with it. Perhaps.

As to this proposal, I'll say the initial idea is not immediately compelling on the surface.. it's nothing like any of my last 40 years business experience, but I'd like to rule out at least it's not one of those opportunities I should examine more closely before I move on. There's a tiny number of details that were discussed this afternoon and a huge number (insurance, commercial vs recreational, maintenance standards, safety, passenger selection, etc) that still need to be which is one more time sink I don't need. But I'm curious if anyone here has ever undertaken something like this. I suppose chartering is the right word though I really thought that was a sailboats-only thing.

The guy with the idea states he's got a 100T license. He'd conduct the charters and oversee maintenance (to my standards)... a third of the fee would go to expenses, a third to me and a third to him. I'm not deeply in love with the idea of someone else running/maintaining my boat. Service providers cutting corners are why I do 100% of all maintenance myself and a healthy slice of diagnosis and repairs on everything I own. It'd have to be worth it, of course, and I do believe a well-maintained/optioned low-hours fully mechanical engine that's not getting any older will always have a market. They aren't making any new ones.

If anyone has any experience with anything like this idea that they'd be willing to share, please do let me know. Observation... writing this down did not do my enthusiasm for the idea any favors... asymmetric skin in the game. Thanks in advance.

--

Miguel
clockwork-usa.com
Gilhooley is offline   Reply With Quote
Old 08-09-2022, 11:18 PM   #2
Guru
 
SteveK's Avatar
 
City: Gulf Islands, BC Canada
Vessel Name: Sea Sanctuary
Vessel Model: Bayliner 4588
Join Date: Jul 2019
Posts: 2,989
There are or were places you would buy a boat and ne part of a charter group. You had rights to use the boat a number of days. So maybe that.
But not feeling this proposal.
__________________
SteveK AKA Soo Valley
You only need one working engine. That is why I have two.
Sea Sanctuary-new to me 1992 Bayliner 4588
Soo Valley-For Sale-Grand Banks 36 Classic
SteveK is offline   Reply With Quote
Old 08-09-2022, 11:40 PM   #3
Senior Member
 
Delta Riverat's Avatar
 
City: Stockton
Vessel Name: Dream Catcher
Vessel Model: 1979 Island Gypsy 44 Flush Aft Deck
Join Date: Feb 2022
Posts: 168
The Captain who trained us is in business with a guy that bought a 78 foot yacht for that purpose. Runs Company "bonding sessions" out of Marina Del Rey. Yeah, flush with dough So.Cal people.

If you trust the Captain...

You can make some dough.
Delta Riverat is offline   Reply With Quote
Old 08-10-2022, 06:18 AM   #4
Guru
 
Keysdisease's Avatar
 
City: South Florida
Join Date: Sep 2014
Posts: 986
There are quite a few Airbnb's that are boats, even some tents, here in South Florida and probably elsewhere. Might be an "in between" way to make a few bucks. Accommodations only, boat stays at thee dock. Of course you have to have a suitable dock arrangement.

Keysdisease is offline   Reply With Quote
Old 08-10-2022, 06:34 AM   #5
Guru
 
mvweebles's Avatar
 
City: Saint Petersburg
Vessel Name: Weebles
Vessel Model: 1970 Willard 36 Trawler
Join Date: Mar 2019
Posts: 4,341
You would be going into business with two people who do not share your concern or financial interest in your boat - the captain, and the customer. Not only is there maintenance, but wear/tear and depreciation. What happens if the generator dies? Or a raw water impeller crunches and the engine overheats and blows the head gasket? The AC unit stops working even though its almost new? Is that maintenance? Normal wear/tear? Scuffs from docking - does it get a quick buff and paint so it passes the 10-foot test, or does it get a professional repair at $5k? What happens when stuff gets lost - you are 90% sure it was there, but can't prove it? You are pledging a $400k asset, what is your protection against a disagreement with the 100T guy, especially since he will have physical control of the boat? Your interests are not wholly aligned.

If you're interested in chartering your N42, find a reputable charter operation with proven maintenance program. Its a highkt desireable boat for charter and you should expect a warm reception.

A 100T license gives zero indication of experience and capability, just that someone says they spent 720 days on a vessel in some capacity (assuming their sea time is legit). And certainly says nothing about their integrity or marketing prowess.

While not a charter business, I effectively went into a boat related business with a marine company to restore my Willard 36. All was fine for a while. In the end, they admitted they owed me money, admitted the work they did was garbage. But they were unable and/or unwilling to make it right and were seemingly fine with my building a website describing what a bunch of hacks they are. Took me a while to unwind from them because they had control of the boat. Really bad feeling on my part. Www.NizaMarine.net.

Lots of downside risk. Not much upside for you.

Good luck.

Peter
__________________
M/V Weebles
1970 Willard 36 Sedan Trawler
mvweebles is online now   Reply With Quote
Old 08-10-2022, 07:00 AM   #6
Guru
 
Keysdisease's Avatar
 
City: South Florida
Join Date: Sep 2014
Posts: 986
This!

Quote:
Originally Posted by mvweebles View Post
A 100T license gives zero indication of experience and capability, just that someone says they spent 720 days on a vessel in some capacity (assuming their sea time is legit). And certainly says nothing about their integrity or marketing prowess.
Peter
Keysdisease is offline   Reply With Quote
Old 08-10-2022, 08:27 AM   #7
Guru
 
Benthic2's Avatar
 
City: Boston Area
Join Date: Feb 2017
Posts: 2,307
If you want to go down this road, you should consider getting your Captain's license and doing it yourself.
Benthic2 is offline   Reply With Quote
Old 08-10-2022, 08:40 AM   #8
Guru
 
CharlieO.'s Avatar
 
City: Vermont
Vessel Name: Luna C.
Vessel Model: 1977 Marine Trader 34DC
Join Date: Sep 2020
Posts: 704
Not sure I'd do it with someone that happened to reach out to me on the internet.
CharlieO. is offline   Reply With Quote
Old 08-10-2022, 08:58 AM   #9
Guru
 
OldDan1943's Avatar
 
City: Aventura FL
Vessel Name: Kinja
Vessel Model: American Tug 34 #116
Join Date: Oct 2017
Posts: 9,769
You have spent your time and money on the boat and now your friend wants you to toss him the keys?
I doubt if anyone will care for you boat as well as you do.
There will be disputes, who has the final say?
The captain is to be on board when the boat is away from the dock?
Who cooks and cleans?
Who does the maintenance?
Does your insurance agree with you plans.
His health insurance must remain in effect.
His umbrella policy must remain in effect.
He must notify you if there is any change in his insurance coverage.

Take the engine keys with you unless you would trust him with the boat 'and your sister.'

and the above is just a start.

Then if the renters do or have drugs or on board and get caught, kiss your boat good bye.

I agree with others, too many down sides. You have a lot of love, time and money it that boat.
Thank him for the opportunity but, 'i would rather not.'
__________________
The meek will inherit the earth but, the brave will inherit the seas.
OldDan1943 is online now   Reply With Quote
Old 08-10-2022, 09:33 AM   #10
Member
 
Captain Pontoon's Avatar
 
City: Oak Bluffs
Vessel Name: Southern Lady
Vessel Model: Albin 34' Bridge Trawler
Join Date: Jul 2022
Posts: 12
We’ve seen an Airbnb offer for a trawler in Carolina.
Wonder if anyone has experience with short term rentals?
Captain Pontoon is offline   Reply With Quote
Old 08-10-2022, 10:19 AM   #11
Guru
 
kthoennes's Avatar
 
City: Sioux Falls, South Dakota
Vessel Name: Xanadu
Vessel Model: Mainship 37 Motor Yacht
Join Date: Oct 2013
Posts: 2,065
I can think of four guys in my life whom I'd trust with my boat without a second thought. Dave, a fellow slip-holder at the marina who is the best boat mechanic I've ever met; my friend Mike in Palmer, AK, who was in the mechanical engineering program with me in college (I switched majors, he stayed in); my father, although he runs boats and engines really hard, harder and faster than I do; and AlaskaProf on this forum, who was in grad school with me and ran his own trawler back and forth to Alaska until the recent sale.

Dan's questions are good ones.
kthoennes is offline   Reply With Quote
Old 08-10-2022, 11:06 AM   #12
TF Site Team
 
Comodave's Avatar
 
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 16,837
Not on my boat!!! No way would I turn it over to some unknown person. Not that there is anything wrong with him but you just don’t know. He wants to save 1/3rd for boat maintenance. What happens when you eat an engine? Does he come up with half the tens of thousands of dollars that it will cost, or does he walk away? He has no investment in your boat.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
Comodave is offline   Reply With Quote
Old 08-10-2022, 11:16 AM   #13
Guru
 
City: Owings, Md
Vessel Name: Graceland
Vessel Model: Mainship 34 MK1
Join Date: Jan 2016
Posts: 965
I don't think I've ever witnessed a thread with virtually 100% consensus on this forum before.

Too much risk, too little potential reward, way too many potential bad outcomes. Captains licenses do not guarantee competence and even if a failure is no ones fault, you will regret the decision if major damage occurs. Buying a boat specifically dedicated to charter service, managed by an established company, running a fleet of similar boats would be a better option.
Gdavid is online now   Reply With Quote
Old 08-10-2022, 11:18 AM   #14
TF Site Team
 
Comodave's Avatar
 
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 16,837
Or maybe if the guy would pony up with 1/2 the price of your boat so he had a vested interest in the boat. But just to split the charter fees, NO WAY.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
Comodave is offline   Reply With Quote
Old 08-10-2022, 11:23 AM   #15
Guru
 
Keysdisease's Avatar
 
City: South Florida
Join Date: Sep 2014
Posts: 986
Houseboat in Key West, $317 night

https://www.airbnb.com/rooms/4457628...dWdIQHWFffcELO
Keysdisease is offline   Reply With Quote
Old 08-10-2022, 11:43 AM   #16
TF Site Team
 
slowgoesit's Avatar
 
City: Puget Sound
Vessel Name: Muirgen
Vessel Model: 50' Beebe Passagemaker
Join Date: May 2019
Posts: 2,067
Run, Forest, RUN!
__________________
Vessel Name: Muirgen
Vessel Model: 50' Beebe Passagemaker
slowgoesit is offline   Reply With Quote
Old 08-10-2022, 12:12 PM   #17
Guru
 
Portage_Bay's Avatar
 
City: Coupeville Wa.
Vessel Name: Pelorus
Vessel Model: Californian 42 LRC
Join Date: Oct 2015
Posts: 1,784
Quote:
Originally Posted by Gdavid View Post
Buying a boat specifically dedicated to charter service, managed by an established company, running a fleet of similar boats would be a better option.
All of the advice & question here are good. This is in my opinion top of the list.

Quote:
Originally Posted by mvweebles View Post
A 100T license gives zero indication of experience and capability, just that someone says they spent 720 days on a vessel in some capacity (assuming their sea time is legit). And certainly says nothing about their integrity or marketing prowess.
Don't put too much credence in a 100 ton license. I am a small tonnage, 500 gross tons, professional with over 40 yrs exeprience. Some of the finest mariners I've ever worked with have held a 100 ton ticket. Most of the worst mariners I have ever worked with have held a 100 ton ticket.
__________________
Some things are worth doing simply because they are worth doing.
Portage_Bay is online now   Reply With Quote
Old 08-10-2022, 03:46 PM   #18
Guru
 
City: Warwick RI
Vessel Name: Lollygag
Vessel Model: 34 Mainship Pilot Hardtop
Join Date: Aug 2016
Posts: 802
Stranger says “Nice boat ya got there. Can I borrow it and take some friends out for a couple of weeks? Will toss you a few bucks”
Lollygag1 is offline   Reply With Quote
Old 08-10-2022, 03:52 PM   #19
TF Site Team
 
Comodave's Avatar
 
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 16,837
Quote:
Originally Posted by Lollygag1 View Post
Stranger says “Nice boat ya got there. Can I borrow it and take some friends out for a couple of weeks? Will toss you a few bucks”
Yes, what could go wrong???
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
Comodave is offline   Reply With Quote
Old 08-10-2022, 03:56 PM   #20
Guru
 
Ken E.'s Avatar
 
City: Bellingham WA
Vessel Name: Hatt Trick
Vessel Model: 45' Hatteras Convertible
Join Date: Nov 2016
Posts: 1,796
Sounds like a bucket of snakes
__________________
Ken on Hatt Trick
Ken E. is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Trawler Port Captains
Port Captains are TF volunteers who can serve as local guides or assist with local arrangements and information. Search below to locate Port Captains near your destination. To learn more about this program read here: TF Port Captain Program





All times are GMT -5. The time now is 12:10 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2022, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012