FAQYour questions answered
CHARTER
APA – The Advance Provisioning Allowance is a sum the charter guests will pay to the yacht in addition to their base charter fee. This is typically 25 – 35% of the charter fee and will cover expenses such as food and beverages, fuel and marina fees. The unspent part of the charter APA is later returned to you or it can go towards (part of) the crew gratuity.
A yacht will have a base charter fee that covers the charter of the yacht and the crew. All other expenses, such as food, drinks, and fuel, are typically covered by the APA (Advanced Provisioning Allowance). However, in some special cases—like in Turkey, Croatia, or for day charters in Dubai—the charter rate may also include food, drinks, or fuel.
The world is your oyster! You can charter as long as you’d like. While the typical charter period is one week (7 nights), 2 weeks, or even a month, shorter charters are definitely possible. Just keep in mind that they may come with a “short charter penalty.” To estimate the cost, you can divide the weekly rate by 6 and then multiply by the number of nights you’d like to charter.
That’s something almost every yacht charter guest wonders. According to the Mediterranean Yacht Brokers Association (MYBA) tipping guidelines, the general rule is to tip between 10% and 20% of your weekly charter fee, excluding running expenses and taxes. Of course this is done fully at your discretion and based on your satisfaction.
The charter fee doesn’t include alcohol, food, fuel or berthing. These elements are provided through the Advanced Provisioning Allowance (APA), which is equivalent to around 25-35% of the value of the charter. The unspent part of the charter APA is later returned to the charterer.
For safety reasons, smoking in cabins and staterooms is prohibited on all yachts. Some yachts will allow smoking in designated outdoor areas.
In Europe, VAT rates on yacht charters vary across countries. In France, the standard rate is 20%, Italy charges 22% VAT. Spain applies a full 21% VAT with no reductions, while in Greece, the rate is 24%, though it can be reduced to 12% for charters leaving Greek territorial waters for more than 24 hours. Croatia has a 13% VAT, and Malta charges 18%, with reductions potentially lowering the effective rate to 5.4% for charters outside the EU. Cyprus imposes 19% VAT, which may be reduced to around 9% if time is spent outside EU waters. If you want to save some money go to Montenegro! There is no VAT applicable in Montenegro.
The MYBA Agreement, also known as the Mediterranean Yacht Brokers Association Charter Agreement, is one of the most commonly used contracts in the superyacht industry for chartering yachts. It covers all key aspects of the charter, protecting both the yacht owner and the charterer.
SALES
24–40 meters: you have to think around 3 to 28 Million USD depending on size, builder and age of the yacht.
41–65 meters: you can go as crazy as up to 70 Million USD.
65+ meters: here anything is possible, from 30 to 300 Million USD or even more, based on your desires.
Billionaires are increasingly turning to superyachts as a way to secure more than just luxury—they seek unparalleled space, exclusivity, and unique experiences. At MyOcean, we’ve seen a sharp rise in demand for 100-meter-plus yachts, as traditional yachts that accommodate up to 12 guests fall short for these high-net-worth individuals. They often travel with large entourages of family, friends, and business associates, requiring the expansive space and top-tier amenities that only the biggest vessels can provide.
Additionally, their travel preferences are shifting. While destinations like the South of France and Mykonos remain popular, there’s a growing trend towards more remote and off-the-beaten-path locations. Billionaires are increasingly seeking out once-in-a-lifetime experiences—exploring secluded bays in Southeast Asia, admiring the rugged landscapes of Patagonia, or cruising the untouched coastlines of hidden Mediterranean islands. It’s not just about luxury anymore; it’s about adventure, exclusivity, and having something that feels truly their own.
Yes, chartering out your yacht can be profitable, but it shouldn’t be the primary reason for purchasing a superyacht. From experience, chartering can help cover the running costs and, in some cases, generate a profit. To achieve this, My Ocean brings extensive industry knowledge and access to a leading platform where all charter requests are handled. In addition, My Ocean reaches over 10 million people monthly, supported by an experienced management team dedicated to maximizing the potential of your yacht.
OTHER
In conclusion, the difference between yachts, superyachts, and megayachts is primarily based on size. A yacht typically measures up to 24 meters, while a superyacht exceeds 24 meters. Mega Yachts are even larger, often starting at around 100 meters or more.
The Netherlands and Germany are recognized as industry leaders in the production of yachts over 50 meters, renowned for delivering vessels with impressive volume, cutting-edge technology, and exceptional craftsmanship. Notable builders from these countries include Heesen Yachts, Oceanco, and Lürssen, which are celebrated for their luxurious and technically advanced yachts that significantly contribute to the high-value segment of the market.
Italy, on the other hand, excels in terms of sheer volume, consistently producing the highest number of yachts each year. Renowned builders such as Azimut-Benetti, Ferretti Group, and Sanlorenzo drive this success, focusing on creating a wide range of vessels that cater to various market segments. Together, these nations set the global benchmark for both quality and quantity in the yachting industry.
Running Costs Post-purchase, an owner should expect to pay around 10-15% of a yacht’s initial purchase price annually to keep it running. So in theory, a $10 million yacht would set you back 1-1.5 million USD a year in operational costs.
While many superyachts are capable of crossing the ocean, not all vessels are specifically designed or equipped for such journeys. The distance for an ocean crossing is typically around 3,000 nautical miles. Yachts that lack this range often have alternative shipping options, including transport on a cargo vessel or large container ship.
Utilizing these shipping methods ensures that smaller yachts can be efficiently and safely relocated across vast distances while minimizing wear and tear including engine hours on the vessel.
My Ocean is highly experienced in the shipping and import of yachts, particularly within the UAE. Our expertise in this area allows us to navigate the complexities of yacht transportation seamlessly, ensuring that your vessel arrives safely and on schedule.
To work on a yacht, you generally need an STCW (Standards of Training, Certification, and Watchkeeping) certification and an ENG1 medical certificate. Experience in hospitality or maritime roles is beneficial. Additionally, depending on your specific role or the program of the yacht, management may set other requirements or qualifications. For example, skills in kitesurfing, holding a PADI diving license, or completing bartender courses may be advantageous or even necessary for certain positions, enhancing the overall experience for guests onboard.
To get started in the yacht industry, first obtain the necessary certifications, such as the STCW (Standards of Training, Certification, and Watchkeeping) and ENG1 medical certificate. Gain experience through entry-level positions or day work, often starting as a deckhand or stewardess on smaller vessels. Antibes and Miami are fantastic places to get your first job onboard.
Networking is key—attend yacht shows, maritime events, and social gatherings at marinas to connect with industry professionals. Joining online platforms dedicated to yacht crew employment can also help you find job listings and opportunities. Tailor your CV to highlight relevant skills and experience to enhance your chances of landing a position in this competitive field. With persistence, you can build a rewarding career in yachting.
Our clients are becoming younger every year and this younger generation loves to share the experience with their group, explore the world and do it eco friendly.
Clients in the ultra-luxury segment are increasingly favoring yachts accommodating more than 12 guests so they can bring their larger entourages, including family, friends to share the experience.
Additionally, there is a rising demand for unique, off-the-beaten-path destinations like the breathtaking coastlines of Madagascar, the unspoiled beauty of the Komodo Islands, or the cultural richness of Japan.
Moreover, many of these superyachts are now equipped with hybrid engines and advanced connectivity, allowing for eco-friendly travel while maintaining luxury. Smart yacht systems enhance operational efficiency and guest comfort, ensuring a modern and sustainable approach to yachting.
The standard top yachting destinations include the Mediterranean, Greece, the Caribbean, and Southeast Asia, offering stunning scenery, luxury marinas, and diverse cruising experiences. We are seeing a move heading east as well with Croatia and Montenegro becoming extremely popular. Exploring the off-the-beaten-track destination is the biggest trend currently. Spin that globe, land your finger on it and let’s go!
Major upcoming yacht shows include the Monaco Yacht Show, Cannes Yachting Festival, and Fort Lauderdale International Boat Show, showcasing the latest in luxury yachting.
There are approximately 15,000 superyachts in the world as of recent estimates. These yachts are typically defined as luxury vessels that are at least 24 meters (about 79 feet) in length. The number continues to grow as more yachts are built each year, with the industry seeing steady demand for both new custom-built superyachts and pre-owned vessels. The majority of these yachts are concentrated in regions like the Mediterranean and the Caribbean, but they can be found globally in various prestigious cruising destinations.
The largest charter yacht currently available is “Flying Fox,” measuring 136 meters (446 feet) in length. She features two helipads, a large spa, a 12-meter swimming pool, and accommodations for up to 25 guests in 11 cabins. Flying Fox is frequently chartered in the Mediterranean and Caribbean, setting the standard for ultra-luxury charters.
The largest private yacht in the world is “Azzam,” which measures a staggering 180 meters (590 feet). Owned by a member of the UAE royal family, Azzam was launched in 2013 by Lürssen Yachts. She boasts an impressive top speed of around 30 knots and features luxurious, yet highly private, interiors. Although it is not available for charter, Azzam represents the pinnacle of private yacht ownership in terms of size and grandeur.
