A transport experience backed by financial stability

Key considerations and insurance insights for a safe passage

Transporting a yacht across the ocean is a complex endeavor requiring careful planning, legal awareness, and risk management. Yacht owners must ask themselves two critical questions before embarking on this journey: Who am I contracting with? and Who is protecting me? Understanding these aspects ensures a safe and transparent transport process. Below, we outline key considerations and best practices when arranging yacht transport.

Understanding the stakeholders in yacht transport Three primary parties are involved in the yacht transport process:

1. The Yacht Owner (Client): o The principal stakeholder responsible for selecting a reputable transport company and understanding contractual terms.

2. The Transport Company: o Manages all logistical aspects, including loading, securing, shipping, and unloading the yacht while adhering to strict safety standards.

3. The Insurance Company: o Covers risks such as damage, liability issues, and unforeseen events. Standard yacht insurance policies often exclude transport-related risks, making specialized marine insurance essential.

Prioritizing safety Safety is the foundation of a successful yacht transport operation. Yacht owners should thoroughly vet transport companies for transparency and risk mitigation strategies, considering factors such as:

• Risk assessment: Transport companies should provide detailed information about potential hazards such as rough seas, weather conditions, or mechanical failures during loading/unloading.

• Third-Party liability: Understanding where liability begins and ends is crucial. Does liability cover damages caused by external parties during transit? This must be clarified in the contract.

• Company track record: Evaluating a transport company’s experience, safety history, and financial stability is essential. Check where the company is based and whether it’s a small independent operation or part of a larger, financially stable group.

Understanding insurance coverage Transporting a yacht exposes owners to significant financial risks, making comprehensive insurance coverage a necessity. The following elements should be considered:

1. All-Risk transport insurance o Covers damage incurred during transit, general average contributions, salvage costs, and environmental risks such as storms or natural events. Owners should carefully review policy exclusions.

2. Liability protection o Protects against third-party damage claims or injuries during the transportation process.

3. Premiums & deductibles o Deductibles are determined by the yacht's value and must be clearly outlined in the insurance questionnaire. Additionally, some transport companies include a margin within insurance premiums for added protection. Comparing premiums and deductible structures ensures adequate coverage.

4. Claims handling o In case of damage or loss, it’s essential to know who will handle claims—whether it’s an internal department within the transport company or an independent broker. Efficient claims handling ensures quick settlements without disputes over liability.

Legal considerations in transport contracts Contracts dictate all aspects of yacht transport, including liability, delays, and additional costs. Owners should review key contract elements such as:

• Transparency in terms: Who is responsible for port delays, unforeseen costs, and penalties for late deliveries?

• Privity of contract: Contracts between classification societies or flag states often exclude owners from direct rights unless explicitly stated. This can complicate claims if issues arise during transit.

• Bill of lading (B/L) & Cargo receipt: The B/L should include clauses extending legal protections under frameworks like the Carriage of Goods by Sea Act (COGSA) for on-deck cargo if applicable. Ensure that higher cargo values are declared to increase carrier liability coverage in case of loss or damage. Traditional Bills of Lading are less common in yacht transport due to their legal implications. Many companies prefer simpler cargo receipts.

Managing delays and unexpected costs Unforeseen delays can arise due to weather conditions, port congestion, or logistical challenges. Yacht owners should clarify: • Who covers extended port stay costs? • Are penalties imposed for delays caused by external factors? • How are additional storage fees calculated?

The role of surveyors and claims support In the event of disputes or damages, surveyors play a crucial role in loss assessment. Yacht owners should confirm whether their transport provider offers claims support, including: • Coordination with independent surveyors • Assistance with insurance documentation • Efficient claims resolution processes

Selecting the right transport partner Choosing an experienced and reliable transport company minimizes risks and ensures a smooth shipping process. Key factors to consider include:

1. Industry Experience: Opt for a provider with a proven track record in yacht transport.

2. Insurance Partnerships: Companies with established insurance collaborations often offer better coverage at competitive rates. Review insurance premiums and deductibles, as these independent third-party values indicate service quality.

3. Transparent Communication: Clear terms on costs, risks, and liabilities prevent unexpected surprises.

Sevenstar Yacht Transport: The Go-To Partner Sevenstar Yacht Transport is a global leader in yacht shipping, providing tailored transport solutions for yacht owners, captains, and industry professionals. With over 30 years of experience and access to 140 company-owned vessels, Sevenstar ensures safe and efficient yacht transportation worldwide.

With a focus on transparency, meticulous planning, and adherence to the highest safety standards, Sevenstar offers: • Lloyd’s Register-approved custom cradles and lashing systems for secure transport. • Expert lift and stow plans designed by professional engineers. • Competitive insurance rates and seamless claims support. • A dedicated team that keeps clients informed at every stage of the transport process.

For yacht owners seeking a stress-free transport experience backed by financial stability and industry expertise, Sevenstar Yacht Transport is the go-to partner.