Buying a superyacht is a huge commitment and a decision not to be taken lightly, regardless of how much you are worth. There are many advantages to owning a superyacht but equally owners can end up being hugely disappointed; with an underused asset and huge associated costs.
A common reason why owners buy a superyacht is that it provides an opportunity to enjoy quality time with family and friends. When you are on a yacht, it is a very intimate environment, it is nothing like staying at a hotel or a resort, it’s like floating second home, built to create memories, for relaxation and space away from the busy world. Many superyachts reflect these limited owner requirements and are designed solely for the purpose of coastal cruising with many lacking the functionality to cruise outside of the Mediterranean, either because of their limited sea-worthiness or because of their dependence on land based services.
The superyacht market has a bad reputation with build and maintenance costs escalating. A yacht costs 10x more to build per cubic meter than a cruise ship; costs of maintenance can be 10% of the build cost pre-annum; 70% of all cruising is Mediterranean based, thus the average yacht is restricted to a short season of 3 months and the average yacht is only used for 5/6 weeks within this. Not surprisingly the market penetration is under 3% with 97% of those that could afford a yacht opting not to have one.
A time for change? “We believe there is going to be a move away from waste in the market, with new entrants looking for bigger experiences and value. It is the Hawk Yachts objective to provide such opportunity” explained Nick Lockett, the Managing Director of Hawk Yachts. “We believe the current yacht market is not sustainable in its current form, and whilst there will always be ultra-rich owners that will feed the overindulgence of the current providers, their influence will decline over time. With the younger affluent demographic market, experiences have become the new must have, rather than asset ownership. We want to encourage this group to invest in yachts and at the same time feed their experience base.”
Hawk Yachts believe there is a growing requirement for change in the superyacht industry. They believe that there is an increasing demand for functional, high value superyachts capable of world cruising delivering the potential of year-round charter. Indeed, they believe that yachts should be run as a business, providing a decent ROI to the owner. The Hawk Yachts campaign ASKWHY? encourages owners and potential owners to ask some fundamental but searching questions of the superyacht industry.
Why is there such a premium in build cost?
Why is the penetration so low?
Why are maintenance costs so high?
Why is 70% of traffic in the Med?
Why is the average yacht so underused?
Hawk Yachts is the brain child of Captain Matthias Bosse, Executive Chairman. Matthias has been at the helm of large yachts and expedition cruise ships for more than 30 years, serving as the master of prestigious private yachts such as Carinthia VII and Lady Moura.
“I believe that yachts should provide owners with unique experiences combined with total comfort. I have travelled extensively in my life and seen some unforgettable sights. Some of these experiences still deliver goosebumps even after many years. Hawk Yachts designs are there to bring these experiences to their owners. We provide extremely high value ownership concepts to the market, and then provide post sales management, charter and holiday sales and itinerary advice. We believe in maintaining the relationships with our clients for the tenure of their ownership.”
Profit from yacht ownership – is this possible?
How do Hawk Yachts intend to make this happen?
By reducing building costs by up to 50 percent through being commercial where can, and superyacht where we should
Lower maintenance with robust systems mostly maintained by the crew, remote monitoring, allowing condition based maintenance and increased competition for yard refits
Providing yacht management through their associated company Swiss Ocean who have teamed up with the biggest ship management company in the world
Increasing the possibility of adventure through designing highly functional yachts capable of world cruising
Opening the season to potentially 52 weeks thus providing greater opportunity for charter revenue
Supporting owners through the tenure of the ownership, including maintenance, charter sales, itinerary planning. We have a team of experts in all key areas
Luxurious but functional interiors, providing the correct atmosphere for the appropriate climate
All these are valid points. We all want to save money where possible, but most importantly we want to get more out of a superyacht, greater experiences more charter revenue and reduced hassle. To have a yacht that could potentially go anywhere in the world and still looks great in Monaco marina is definitely something that is welcome. Currently, a majority of yachts are highly seasonal and can only be chartered for a limited season and certain locations or times of the year.
With this in mind does Hawk Yachts have a yacht that is more versatile, luxurious and cost-effective?
With the 48m Cape Hawk 690 the answer is an emphatic yes. This high-volume yacht has living space spread out across five decks and was designed from the beginning to be functional, robust and ocean-ready. Cape Hawk has the ability to travel effortlessly across a range of climatic conditions and with a range of 5,000nm there is nothing to hold you back. The project which is being led by Captain Matthias Bosse, who worked with naval architects Laurent Giles and Southampton Solent University for the design and engineering package. The yacht is ready to go, having just finished its hull tank test. Matthias’ experience across 750,000 sea miles in expedition cruise ships and luxury yachts has been an essential element in developing this unique yacht.
Having the ability to go almost anywhere in the world today is so easy. In fact, you can fly anywhere in the world and get to your destination within 24 hours. But for those who want to explore more challenging terrains, Cape Hawk 690 can take you to places you might previously only have dreamt of since it is capable of being self-sufficient for up to 6 weeks. Cape Hawk 690 has been fitted with large boilers and enhanced air conditioning units to keep the yacht temperate in all climatic conditions. The substantial engine cooling and filtration systems that will continue to work and be effective even in the 35c waters of the Amazon and to cope with the silt in the rivers.
When you are traveling to these far-flung destinations you want to know all practical considerations have been thought through: an on-board gym and spa comes with a sauna and space for 12 guests; the sun terrace offers shade when the sun beams down or can provide warmth from a firepit as it transforms into a winter garden. The ability to observe dramatic scenery has not been overlooked either, with an on-board observation pod offering an unrivalled vantage point to enjoy spectacular vistas. There is even a beach club with a folding swimming platform so you can get maximum comfort and relaxation.
With all this travelling there is the environment to consider and with the oversized water treatment, waste incinerator and refrigerated waste which allows Cape Hawk to operate in sensitive areas with minimal effect on the environment.
What about toys? This is an explorer yacht which means you can fit a full dive unit which will enable you to scuba dive in remote locations. There is also space for a submarine garage and science lab, where you can not only get up close and personal, but also study the sea life around you.
I have always said to our members that owning a superyacht is a big step regardless of your wealth and maintaining it is another story, but if done correctly with a great design it can work. Now I am pleased to say that there is an option where first time buyers and existing owners have a true wildcard on the table. Cape Hawk 690 is a superyacht that really does challenge the industry and, you know what, I am behind them. I know that each superyacht is unique, and I know that owners have their own needs, but to have a superyacht that can offer greater experiences and revenue potential then I for one welcome this initiative. So, whether you are looking to buy your first superyacht or simply looking for a change, before you make your final decision, consider the Cape Hawk 690 and AskWhy?