CHARTER
MARKET REPORT Q1 2022 OVERVIEW
T H E I N T E R N AT I O N A L YA C H T C O M PA N Y
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CONTENTS
CONTENTS
4
EXECUTIVE SUMMARY
6
2022 YTD GLOBAL CHARTER MARKET TRENDS OVERVIEW
8
GLOBAL BOOKINGS BY LOCATION
12
WINTER SEASON 2022 CHARTER BOOKINGS BY LOCATION
16
SUMMER SEASON 2022 YTD CHARTER BOOKINGS BY LOCATION
20
2022 CHARTER FLEET OUTLOOK
22
IYC RETAINS ITS LEADERSHIP POSITION IN THE CHARTER MARKET
24
THE IYC CHARTER FLEET EVOLUTION
DISCLAIMER The IYC team has worked hard to ensure that all facts and information printed in this report at the time of publication are correct. IYC cannot accept responsibility for any errors, omission or inaccuracies and is not responsible for or owes any duty of care to any party seeking to rely on the content of the report. Any such reliance shall be taken at the persons’ own responsibility. No part of this report may be reproduced without the permission of IYC.
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EXECUTIVE SUMMARY Following a record year for the charter market, the 2022 charter season is expected to be even more active. After two years, where travel plans were affected by covid related regulations, the appetite for travel has increased and charter clients are looking to venture on yacht charters around the world. 2022 is off to a good start, with a successful winter charter season, and yachts in summer destinations are already booking up. The purpose of this report is to provide a synopsis of the prevailing state of the charter market in 2022 and an outlook for the upcoming charter season. IYC is closely following the charter market and client trends, which are shaping the industry as a result of global events. Irini Saranti Global Marketing Director
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2022 YTD GLOBAL CHARTER MARKET TRENDS OVERVIEW LAST MINUTE BOOKINGS Despite an overall normalization in travel regulations in most parts of the world, the trend of booking last minute is still there, with several charters expected to book less than thirty days prior to the embarkation date. Traditionally, New England and the Bahamas are summer destinations that see more ‘last minute’ reservations. Last minute charters are also expected in Europe, with certain US based clients waiting to see how things will unfold in the region from a macro perspective.
IMPACT OF WAR IN UKRAINE Despite a drop in requests during the first 10 days following Ukraine’s invasion, demand for charters remains strong. With the exception of some last minute bookings, from non-European clients who are following the development of the war in Ukraine, we do not expect the war to have a significant impact on the charter market.
HIGHER ADVANCED PROVISIONING ALLOWANCE (APA) As the cost of goods, and fuel in particular, increase clients are requested to pay a higher APA (35% versus 30%) to cover the cost of provisions for their charter.
FUEL EFFICIENT VESSELS With fuel prices at a high, certain clients especially in the smaller yacht size segment, are favoring yachts that have a lower fuel consumption.
YACHTS WITH VACCINATED CREW Yachts that employ fully vaccinated crew are gaining popularity among clients who are still weary of Covid.
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CHARTER CLIENT BOOKINGS BY NATIONALITY
3%
3%
7%
10%
NORTH AMERICAN EUROPEAN RUSSIAN
49% 10%
UK MIDDLE EASTERN SOUTH AMERICAN OTHER
19%
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