Charter broker LeAnn Morris Pliske discovered in early July that some of her favorite charter yachts were already booked for the Christmas and New Year’s charter weeks in the Caribbean. It was like she had time-warped back to 2005 or 2006, before the global economic crash, when clients had to book six months to a year in advance in order to get a top-notch yacht and crew for a winter-holiday charter in the Caribbean.
Owners of leading charter yachts 130 feet (39.62 meters) and larger are doing something in the Mediterranean this summer that we haven’t seen since before the economic crash in 2008: They’re requesting two- and three-week minimum bookings for prime cruising dates in July and August.
Springtime each year sees Molo Vecchio, the historic port of Genoa in Italy, packed with charter yachts eager to show how good they are to an assembled audience of charter brokers. The 25th commemorative edition of the MYBA Charter Show in late April and early May did not disappoint. More than 60 yachts attended.
Will yacht charter clients be forced to pay Value Added Tax (VAT) this summer on the Côte d’Azur? If yes, then how much will the VAT be? We asked Claude Niek, CEO of Cannes-based CSO Yachts and a member of the Mediterranean Yacht Brokers Association (MYBA) Tax Committee to give us his best guess before a decision comes (all hope) in time for the charter season.