From 2022 to 2023, International Yacht Company (IYC) signed a total of 11 new-build yachts to its global charter management fleet – already the largest charter fleet in the world. In addition, IYC has a further 12 new build yachts under construction, of which eight are with Italian shipyard Admiral. These include three 229’6” (70m) GC-Force yachts purchased by one family and scheduled for delivery in 2026, 2027 and 2028, and the largest new build yacht sold by IYC and under construction, the 236’2” (72m) Project Metamorphosis, due to deliver in 2024.
IYC is experiencing some serious growth and it’s focused on one key area – new build charter yachts. The company currently has 11 new build yachts delivered between 2022-2023 available for charter, which represents the largest number of new builds for any yacht brokerage house in the world. And its conversion of new build managed charter yachts continues apace. Michel Chryssicopoulos, IYC’s Global Managing Partner, describes the Admiral GC-Force hat trick announced this month as a “mega deal” that solidifies the company’s 12-year relationship with The Italian Sea Group. So, what exactly is the IYC difference? What is driving the trend for IYC’s growing list of newly built charter managed yachts?
“When a client sees the type of success that we’ve had to date in growing our charter fleet and new build expertise, it gives them a reliable reference point that they can trust,” says M.Chryssicopoulos. “We know how to put these deals together, which people to coordinate, what to ask on the client’s behalf and when to push problem solving. We’ve gained momentum and built relationships with key players in a sizable market segment and in an industry like yachting that goes a long way.”
Over the course of his extensive 20-year yachting career, M. Chryssicopoulos has acquired a specific interest in 30m+ new build yachts, working closely with some of the world’s top shipyards, cultivating relationships with industry stakeholders and yacht owners across the globe. His connection with the family behind the three 70-meter Admirals began in 2006 with a couple of much smaller new builds. “We maintained our relationship with the client through charter management, and when they were ready for the next step we were there,” he says.
He believes the company’s commitment to nurturing individual clients’ interests, including owners, owners’ representatives and captains, is key to IYC’s growing tally of new build yachts under charter management. “Most of our new build clients are repeat clients,” says M. Chryssicopoulos. “Typically, they begin in the smaller size bracket and over time choose to build larger. We cater to their needs so effectively that I'd say close to a 100% of our new builds remain with us for charter management and/or other yachting services.”
Among the newest and largest yachts recently added to the IYC charter management fleet are 117'3" (35.75m) motor yacht Andiamo built in 2023 by Sanlorenzo and 158' 3" (48.24m) custom sailing yacht Clase Azul built in 2022 by Croatian shipyard Radež d.d. Together with Greece, Croatia has become one of the hottest charter destinations in the world, with both cruising grounds accounting for around half of IYC’s charter fleet. Alongside Andiamo, IYC’s new build yachts managed by the Croatian office, is included the 78’9” (24m) Ferretti-built Noemia, delivered in 2023.
“IYC has a strong holistic offering for new build yacht owners, providing sales, charter, insurance and
management in one package. If an owner has had a good experience with IYC during the construction period, they’re more inclined to want to stay with us for charter management,” says Antonela Pericic, IYC’s Head of Charter Management in Croatia.“We also respond to any situation or booking enquiries very quickly and it instills an owner with confidence when they see everything is handled professionally and efficiently,” she adds.
“IYC’s recipe for success contains many ingredients,” says Fotis Geranios, IYC’s Head of Charter Management in Greece. “We have highly experienced sales brokers, the largest charter fleet and the biggest split of charter managed yachts around the world.”
With 24 strategically placed offices, from Monaco to Palm Beach, IYC has strongholds on both sides of the Atlantic, as well as headquarters in Greece. “We’re very well positioned across the US and Mediterranean to sell our charter management services,” says M.Chryssicopoulos. “The American charter client accounts for 50% of IYC’s booked charter weeks per year, so the fact that we can demonstrate an understanding of US culture combined with local expertise is highly appealing to owners, particularly those looking to build in northern Europe.”
For Raphael Sauleau, IYC’s CEO, it comes back to the company’s legacy of tight-knit client relationships. “Many of our brokers, particularly the ones involved in the new build process, are extremely close to their clients who look to them to provide additional services, such as charter management and yacht management. But underpinning that point is the sheer size of our charter fleet – more than 140 yachts to date – many of which are owned by serial builders who have first-hand experience of our rate of productivity, and therefore know that their yacht will be busy on charter. These are the components that make clients come to us, stay with us and continue to build and charter with us.”
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