Financial management
Transparency and accountability are the key words here. We help Captains to set up and put in place stringent on-board cost controls. Our knowledge and network of suppliers and service providers ensures quality parts and supplies at the best possible prices.
With experienced Captains and chief engineers in-house, we have the required expertise in yachting and commercial shipping to provide real cost control, in addition to regular financial record keeping.
Buying or owning a luxury yacht does not need to be synonymous with extravagant spending. However, financial control is essential; nowhere else can money be so easily spent as in the luxury yacht market.
Benefits of using OCEAN Management
Our financial yacht management services provide cost control for the operation and maintenance of a yacht. Upon your request, we can carry out payments from a bank account specifically set up for your individual yacht.
In addition, our financial administration complies with the requirements of corporate service providers.
Financial management services
- Developing budgets according to your requirements, working closely with your private office, Captain and corporate service providers.
- Introducing purchase and approval procedures.
- Negotiating discounts with suppliers.
- Verification of on-board expenditures.
- Budget assessment control and adjustments.
- Financial record keeping and reporting using our yacht-specific software OCEAN Book, which we developed ourselves.
- Financial reporting for VAT returns.
- Arranging dedicated debit cards for charter and normal operation of the yacht.
- Providing dedicated bank accounts (with a triple-A rated bank) for each yacht.
- Carrying out international payments.
