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A Superyacht’s Monthly Expense

10 October 2022
A Superyacht’s Monthly Expense

When you get a superyacht, it’s not just about the amount you pay to buy it.

A Superyacht'S Monthly Expense
A Superyacht’S Monthly Expense

Superyacht means a super rich life. It is a luxury that few people in the world can afford. A superyacht brings with it such huge expense items that it is not enough to own a few companies to be able to afford it. Because when you get a superyacht, it’s not all about the amount you pay to buy it. The costs are mind-blowing.

Currently, there is no precise definition for a superyacht. However, in general, yachts over 24 meters are considered superyachts. On the other hand, superyachts have grown in size over the years as the super-rich wanted even more living space at sea. As such, even a 24-meter yacht can seem small to the eye. With the production of yachts over 100 meters more frequently, the word superyacht became insufficient and the concept of megayacht emerged.

Superyachts and megayachts mean super rich lives. So we’re talking about the lives of people who have so much money that you can’t even imagine. When thinking about it, we think that there are only a limited number of superyacht owners in the world in human form. But the truth is not like that. There are more than 8,000 superyachts in the world’s seas today. It is stated that 1,000 new superyachts are currently being built. In other words, the number of super-rich people in the world is much more than we expected.

Azzam still holds the title of the world’s largest superyacht. The production cost of the 180-meter-long superyacht, owned by Arab sheikh Khalifa bin Zayed Al Nahyan, is 600 million dollars. However, Azzam has cost perhaps more than that since it was launched in 2013. Because even if a superyacht is never used, the “counters” keep turning at a crazy speed.

The cost of superyachts has not been a hot topic until now. Until the Russian oligarchs’ assets, and therefore their superyachts, were confiscated because of the war in Ukraine. When these superyachts, which were seized by different countries, started to make holes in the budgets of the states due to their maintenance and mooring costs, this issue came to the fore.

Of course, it is not possible to know exactly the monthly expenses of superyachts. However, it is possible to make an approximation. There is not much new work on this subject. However, a 2015 study by an insurance company called Towergate reveals the magnitude of the numbers. The company conducted its research on a superyacht with an average length of 100 meters. Calculations were made on a superyacht of this size.

Million Dollars of Fuel Deals

Fuel, regular maintenance and repairs, taxes, marina fees and crew are the most important expenses of a superyacht. In addition to these basic items, there are many other expense details. So to examine the costs, let’s start with the fuel.

As it is known, fuel prices are very high in many parts of the world, except for a few countries. On the other hand, the fuel consumption of a boat is not like that of an automobile. A motor yacht, especially if its captain stepped on the gas, consumes many times more fuel per mile than a luxury car. Since you cannot find fuel in the middle of the ocean, it is necessary to keep the tank full all the time. According to Towergate’s report, an average 70 meter superyacht consumes 500 liters of fuel per hour. This is the figure at normal cruising speed we’re talking about. So, according to the report, a 70-metre superyacht consumes an average of $500,000 a year in fuel if it always travels at cruising speed.

Let’s take a look at the fuel consumption issue in the context of Russian businessman Alisher Usmanov’s 156-meter superyacht Dilbar. Launched in 2016, Dilbar has the largest swimming pool ever placed on a superyacht. The $600 million Dilbar is the world’s sixth largest superyacht. It is stated that Dilbar’s annual expenses vary between 50-80 million dollars. The fuel capacity of this giant superyacht is just over 1 million liters. Assuming that you pay three dollars per liter when you buy 500,000 liters of fuel, that means it’s $1.5 million to fill only half the tank! When this superyacht is refueled, a fire truck has to be accompanied due to the large amount of fuel.

Annual Connection Fee

A Superyacht'S Monthly Expense
A Superyacht’S Monthly Expense

Another expense item is tethering and accommodation. Moreover, this expense item is not like fuel. Unless you are using your superyacht, you are not wasting fuel. However, the superyacht must be moored in a marina when not in use. This means the annual fee to be paid to the marinas. By the way, let’s just say that superyachts cannot be connected to every marina. Due to its size, it can only be accommodated in marinas special to superyachts.

The number of marinas serving superyachts in the world is limited compared to other marinas. For this reason, places in these marinas are very valuable. Marinas serving superyachts are mostly located in the Caribbean Islands, as well as in France and Italy, which are the favorite places of jetset. The nightly fees of these marinas, where ultra-luxury services are provided, are worthy of it. Of course, the prices vary according to the season, the marina and the size of the superyacht. In some places it reaches as much as $6,000 per night. st. Tropez, on the other hand, is a little more affordable! One night’s hookup fee here varies between $2,000-3,000 in high season. Taxes, electricity and water are not included in this price. The prices of some marinas also differ according to the events in their locations. For example, if a superyacht owner who goes to Monaco to watch Formula 1 wants to spend the night on his superyacht instead of a hotel, the amount he will pay to Port Hercules is $35,000 per night. It is stated that the total mooring fee of a superyacht exceeds 1 million dollars per year.

Crew Cost

Crew salaries are one of the biggest expenses for a superyacht. An average superyacht has 20-50 crew members. It is worth adding that this crew is exclusive to superyachts and is much more equipped and experienced than those on other boats we know. For example, chefs who have worked in Michelin-starred restaurants can work in the kitchen of a superyacht, in accordance with the owner’s taste. So are the captains. Therefore, superyacht crews receive much higher salaries than other boat workers.

Captains are the most important part of the superyacht crew. Therefore, captains get the highest wages. The salary of a superyacht captain ranges from $70,000 to $180,000 a year, according to his experience. The remaining crew also receive lower salaries depending on the importance of their mission. However, don’t be fooled by what we call low, the wages they receive are much higher than similar jobs done on land. According to Towergate’s report, crew costs on superyachts average $100,000 per month. This figure is for superyachts with an average crew of 50 people. On some superyachts, the number of crew can exceed 100. Like Al Said, which has a crew of 154 and can accommodate 70 guests.

A Superyacht'S Monthly Expense
Al Said

On the other hand, crew costs are not just about salaries and insurance. The crew of each superyacht must wear a special uniform. These uniforms, which are designed separately during the day, separately at night and for special occasions, on which the name of the superyacht is written, are also a separate expense item.

Finally, it is useful to mention a small detail. Now every superyacht carries a lot of sea toys on board. The options are endless in sea toys. From personalized submarines to jet skis and speedboats that will take you to land, they are all considered sea toys. Only the prices of submarines vary between 1-10 million dollars depending on their capacity. Jet-skis also range in price from $5,000 to $20,000. The annual maintenance and fuel costs of all these marine toys are also included in the superyacht expenses.

In summary, the monthly cost of a superyacht varies according to its size, owner’s lifestyle, and the places he travels. As the superyacht grows, so do the costs. However, experts have found a more or less computational method. Accordingly, 10% of the value of a superyacht is spent on expenses.