Paul Madden presents
Four Projects Currently Available
Expedition Yacht Conversion Project. Commercial vessel was Lloyd’s Class +100 A1 Ice Class 1. Built in Canada and converted in U.S. 13-knots with 31-50 days endurance. Heli-deck for Bell 212. Accommodates 12-18 guests, with private owner's deck. Refit in 2013-2014. Conversion from commercial vessel will take 15-18 months, depending upon spec.
US-built (ABS Class) conversion is a long-range, ocean-proven Global Expedition Yacht. The conversion will cost
roughly one-third as much as a 'white yacht', and can be converted in as little as 15-18 months. It is custom designed
for expedition cruising and other missions requiring all-weather operations and long at-sea endurance with reliable
diesel-electric CAT power with Ulstein Z-Drives and DP-2 commercial-grade systems. Electric Hybrid Upgrade is available as an option.
You can customize the layout and interior finish to suit your lifestyle. Conversion is done at a U.S. commercial shipyard.
US-built (ABS Class) conversion is a long-range, ocean-proven Global Expedition Yacht. It is custom designed for expedition cruising and other missions requiring all-weather operations and long at-sea endurance with reliable
Global exploration on an ocean-proven rugged offshore vessel with redundant systems, ocean-crossing range and weeks of endurance away from ports. This 300' conversion will match performance with any shipyard in the world and equal, or surpass an owner's expectations. Diesel-electric engines drive azipods with hybrid-electric option. For the ultimate in ocean exploration, this is an option that must be considered.
The exterior styling and interior design options allow an owner to imprint his/her lifestyle.
The Owner’s suite offers restricted access to ensure privacy. The owner’s office has access to a large balcony.
Fitness and wellbeing are also major considerations for the yacht. On the Lower Deck is a wellness area with a massage treatment room and sauna.
Multiple watercraft are housed in a dedicated garage/hangar that connects to a lazarette with all watersports equipment located.
The helicopter touch-and-go pad, crane and Jacuzzi areas are on the sundecks.
Ice-class is available.
A client in Europe had some questions recently and so I sent him this email., which I thought might be of interest to a number of my clients, so I am attaching it here:
As I have worked at European shipyards (Blohm+Voss/Hamburg and CRN/Italy) and also been a broker in Monaco and London, I know what doubts they will all raise about doing a U.S. conversion- so I’ll address the ones that immediately come to mind.
The shipyards all built to ‘class society’, which means that the welding, the electrics, the fire systems, the stability etc. are all to an equal, very high quality level.
The 57.9 meter vessel we would convert for you was built by BAE Systems, which is the British naval building subsidiary
It was built for Hornbeck Offshore to an exacting spec and high quality, as they normally operate their vessels for the life of the vessel with their own crews and maintenance- and so their profitability is linked to the quality of the vessel. They operate for companies such as Exxon globally.
The conversion shipyard is Edison Chouest https://www.chouest.com/. Family owned. They build and operate their own ships at 7 shipyards, and also build for the military. They have a joint-venture in Norway with Ulstein. They have over 5,000 employees. The family also owns Westport Yachts https://westportyachts.com/
In their Tampa shipyard, where we will do this conversion, they service Lurssens, Feadships and other European megayachts.
Power and Systems
These vessels usually come with CAT power. They can be direct drive or diesel electric. These are the same systems that are installed in yachts - however these vessels will never have too much power installed, as you often see in yachts. They are designed and engineered to deliver a reasonable speed (usually 10-14 knots) with excellent fuel economy. They typically have trans-oceanic range and we can easily extend the range during the conversion as they have extra tanks that are easily converted for fuel storage.
All the major European yacht-builders contract-out the design and fabrication of custom yacht interiors. The fabricated components arrive by truck or container at the shipyard and are installed on the ‘green’ yacht.
We can install the exact same interiors, made by the exact same fabricators at the shipyard in Tampa. Furthermore, we can transit this vessel to Italy, Turkey or Holland and have the interior installed once the basic conversion is done. The interior will likely end up costing more than the yacht, regardless of where it is installed. Such an interior will also extend the delivery time substantially.
These days, as owners (and charterers) look towards expedition experiences and long-range voyages, they are looking for practicality and functionality - and do not need to have leather-covered walls, chandeliers, or full LED walls with floral displays in their vessel. The 5-star boutique cruise ship industry is served by interior fabricators who build in modular units that cost a fraction of a custom yacht interior and can be installed easily to spaces designed for this purpose.
examples of cruise ship interiors: https://www.cruisecritic.com/articles.cfm?ID=2639
There is no comparable on the acquisition costs, or the return on investment when the vessel charters.
Here are prices on vessels of similar size and age currently for sale.
180 ft Feadship 1997 US$ 26,794,937
180 ft Benetti 55m 2003 US$ 19,500,000
Feadship Hull #786 2001 US$ 33,567,284
180 ft Trinity Yachts 2005 US$19,000,000
The 1997 Feadship charters for $250,000/week. The 2003 Benetti charters for $275,000/week
The 1957 converted 57.9 meter SEA WOLF expedition yacht charters for $211,000/week
The 1987 converted 71 meter ENIGMA XK expedition yacht charters for $341,500/week
The sales price does not necessarily correlate to the charter rate. The clear advantage in terms of ROI is towards the older and larger conversions that are able to offer a unique experience in far off places.
Feel free to contact me if you have questions: PM@XplorerYachts.com