The Yacht Report's 100th Edition: Iamboatman's Thoughts About the Future of Superyachts Are Published

Yesterday I received an email from a truly innovated, environmentally responsible, yacht designer in France congratulating me on my new article in The Yacht Report's 100th edition.

I was, to be honest, caught off guard as I did not recall writing a new article and, as it is a United Kingdom publication, its U.S. distribution is generally about 2 weeks later than Europe's.

Today I went on line to one of my favorite websites, The Yacht Report's http://www.synfo.com/ and downloaded the lastest edition. And there it was: A full page of my thoughts on the future of superyachts...something I had written in response to an email request some months ago, put into a very nice article.

I consider it quite an honor for what I believe to be the most relevant, highest quality, yachting publication to so prominently include me in its 100th edition. So Martin, Tork and all the rest of the TYR group I want to say, "Thank You."

If you are interested in reading my thoughts...and you wouldn't be reading this far if you weren't, would you?...here you go:

Some Perspective on Commissions: My Article in The Yacht Report

Reflecting on my post of yesterday concerning the conflict between Regent Seven Seas Cruises doing what I unquestionably think is the right thing by effectively eliminating Non-Commissionable Fees (NCF's) and its clearly expressed motivation for doing so (paying off travel agents so they shift business to Regent not based upon the quality of the product, but the additional money that will line the travel agents' pockets), I felt it important to expand on the subject.

It is important, to my mind, because (a) it baffles me why someone would so blatantly admit the improper motive; and, (b) it is a pervasive tactic that invades all commissionable businesses and as such, consumers need to not only be aware of the practice, but protect themselves from any possible adverse effect of same. 

In April 2008 I wrote an article in The Yacht Report (the leading magazine of the luxury yacht industry) about the ethics associated with commissions in the superyacht industry.  I thought it might give those that think I am picking on Regent's philosophy something to think about:

Along those lines, I make it substantively known to all of my clients - and to all my readers - what my opinions and factual findings are as to each and every cruise line.  And if I can do better, or get more, from Line A I am going to let you know that and provide you with better pricing, suites, etc. as a result...But I always leave it up to my clients to make the final decision.  In other words, a travel agent must be accurate and allow the client to make an informed decision; not skew them for a few extra bucks.

For example, one client chose Regent over my recommendation of a similar Seabourn cruise.  Upon her return she said that the cruise exceeded her expectations...but only because I gave her an accurate description of the differences from Seabourn, so she was not faced with disappointment or frustration; only "Yes, that is what Eric said.".  Her next cruise:  Seabourn.

All the cruise lines should drop or limited the NCF's, but they should do it for the right reason.  If that is not the motivation, don't encourage it to be for the wrong one. 

2008 Global Superyacht Forum (Amsterdam)

Every year there is the preeminent gathering of the superyacht industry in Amsterdam:  The Global Superyacht Forum.  (http://www.superyachtevents.com/gsf )This event, with over 650 of the top members of the industry, is held in conjunction with METS, the world's largest exhibition of equipment, materials and systems for the international marine leisure industry. (http://www.metstrade.com/home.asp).

I have the honor of just being confirmed as the legal expert on a panel discussing and debating the various ways in which interpretations and consistency of the rules for constructing superyachts would help improve the process of building and designing of these floating palaces. 

For those with an interest in the highly technical world of superyacht construction (it isn't about the glamour you read about!), this is a rather hot topic, as this has been a very confused area of the industry.  There has been great inconsistency between the various classification societies (such as Lloyd's, RINA and American Bureau of Shipping) and the ship's registries (the entities where you document/register your yacht), the governmental interests (such as MCA and the U.S. Coast Guard) and those who are trying to get the yachts built according to the ever evolving specification and regulatory schemes...and on time and on budget (the shipyards and owners).

With the drastic change in the economy I think this will be an extraordinary session as what, at least to me, has been a "who cares what it costs, they all have money" will necessarily have to take into account both the concept of economic costs for the regulations and the "not killing the goose that laid the golden egg".

Joining me on the panel will be ship surveyors from Lloyd's Register of Shipping, RINA, The Cayman Island Shipping Register, the MCA (UK's Maritime and Coastguard Agency -the European regulatory gurus) and a shipyard. 

Yacht Brokerage and Legal Panel - American Superyacht Forum

As I previously wrote, I was on a panel in June at The Yacht Report's American Superyacht Forum in Newport, Rhode Island. The panel discussion was on issues and concerns with yacht brokers.  The transcript of the panel discussion can be found here:

http://www.synfo.com/Whitepapers/asf08/ASFDay2BrokerageForum.pdf

For those of you that know me as a travel agent, this will probably give you some insight as to my dealings as a superyacht lawyer.  While some of it may be rather dry or boring, there are some really good comments and observations from the panelists.

And, importantly, there are some parallels between issues with some yacht brokers and some travel agents regarding lack of knowledge, misrepresentations and a personal need to "make the deal" (earn a commission) versus being in the industry for the long term and building a solid reputation through doing things the right way.