MY OPINION

We all yearn for cleaner oceans, of course we do. But how do we achieve the much-needed improvements? Raising awareness of the issues surrounding protection of the marine environment is the crucial first step.

At the 10th edition of La Belle Classe Superyachts Environmental Symposium in Monaco on 25 March 2021, I am pleased to say good progress was made in confronting the challenges head on. No one was left in any doubt about what we need to achieve together.

Awareness in itself is but a first step and I was heartened to hear so many practical ways forward discussed at this important conference. These ranged from alternative power sources, such as hydrogen, battery electric, solar and wind power, to the environmental benchmarking of yachts that we know is long overdue.

No one is exempt from their responsibility to help clean up our oceans, however large and fast their yacht, which is why a fact-based and easy to understand environmental rating system for superyachts is so important. Indeed, the Yacht Club de Monaco, in collaboration with Credit Suisse, felt this was so important that in September 2020 we founded the Superyacht Eco Association (SEA), with the backing of the Prince Albert II de Monaco Foundation.

I am proud to serve as a Member of the Board of SEA and represent the Yacht Club de Monaco in its role as environmental beacon and aggregator of initiatives such as the pioneering SEA Index CO2 classification tool for superyachts of 40 metres and above.

The symposium presented the first opportunity to hear how the SEA Index has fared since its inception just six months ago. It has come a long way in just a short time and is today very much live and well.

Importantly, the Index is not about one yacht being better than another; rather, it is about informing the debate, increasing awareness and pushing the industry on. Its success is living proof of the desire of all of us to work together for a climatefriendlier future.

Not only is this environmental benchmarking initiative up and running, the SEA index is also evolving to include other environmental criteria, besides CO2. Furthermore, one of the maritime world’s most respected names; Lloyd’s Register will issue the certificates.

Data verification by an organisation of such unprecedented experience and credibility will ensure that the growing demand from yacht owners to know their vessels’ environmental impact will grow faster still.

President of the Yacht Club de Monaco, HSH Prince Albert II, has already officially inducted the owners of two superyachts – the 68 metre Ragnar and 88 metre Maltese Falcon – into the SEA Index program.

These yachts are leading examples for the superyacht industry as it transitions to a climate-friendlier future. They provide a timely ‘call to action’ for everyone from across the industry, from shipyards to superyacht owners, to stand up and be counted.

We do not just yearn for cleaner oceans, we come together in the true spirit of Monaco to ensure we are on the correct course to achieve cleaner oceans. As the symposium showed, awareness of the issues is now greater than ever and a lot has already been achieved, but there is a great deal still to do.

For more information on the Superyacht Eco Association, the SEA Index tool and becoming a member Tel: +377 93 10 63 04 or visit www.superyachtecoindex.com

The COVID-19 pandemic has affected everyone around the globe and is having a significant effect on the way we do business. It has resulted in quarantines, travel restrictions, the introduction of emergency legislation in many countries and the cancellation or postponement of major events such as the Monaco Grand Prix and the Cannes Film Festival. A difficult equation to solve as far as the wider travel industry is concerned and a particular challenge for the yacht charter market.

Measures to combat the virus mean that owners might not be able to deliver the yacht on time (or at all in some cases), charterers might be not allowed to reach the port of delivery or the yacht might be restricted from sailing. Arranging the boarding and/or disembarkation of crew is also proving to be issue.

That is why it was imperative for the seasoned professionals sitting on the MYBA Charter Committee to come together quickly to create an addendum that would assist both owners and charterers in navigating these uncharted waters. The MYBA Charter Committee consists of both charter brokers and charter managers so that meant the issues that were fast arising could be discussed from the perspective of both owners and charter clients.

The standard MYBA Charter Agreement incorporates a force majeure clause which may afford protection to owners if successfully invoked, for example if failure to deliver the yacht is directly attributable to “governmental act or regulation”. However, it does not typically offer protection to charterers in case they want to cancel the charter due to force majeure.

While every charter is unique unto itself given the owner, charterer, and destination, the Committee tried to create a tool for charter brokers and charter managers that would provide increased protection to all parties. It allows the parties involved to discuss alternative arrangements if either party is prevented from performing its obligations due to Covid-19. These include changes of scheduled dates (up to 12 months later) or cruising area, or failing agreement on these two points, a no-penalty cancellation of the charter. All parties need to agree to the new addendum which can either be appended to existing charters or adopted in future contracts.

The principal aim was to provide a framework within which clients could continue making plans for charter vacations, and go ahead with bookings without worrying about negative developments.

The Committee understood that the addendum could not be a full resolution for the charters that were already booked for 2020 however it provided valuable legal language that could be used by the industry to mitigate losses.

At the time of writing, there is no way to predict what will occur in the next few months as far as Covid-19 is concerned but there is an air of optimism due to the rising vaccination rate and the health and travel protocols that are in place. Superyachts have become more attractive than ever as they combine an extremely controlled environment with exceptional settings, service and flexibility. The industry has responded swiftly and effectively, with crew members being tested frequently and specialised cleaning taking place on board, making chartering a yacht a wonderful alternative to other holiday options even for those who were not yet aficionados.

That being said, we all hope that we will soon be able to return to normal and that we will have a stronger contract with the various changes that we as a committee are working hard to finalise. It may not be the same contract that we all know and have worked with over the years but an improved version.

Hopefully some of the changes that we intend to implement in order to address a future pandemic will never be needed and we will once again be able to travel as we like it, on a superyacht.