cost of 200 foot yacht

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Us flagged vessel, health insurance costs per crew, uniform cost per crew, training cost per crew, food cost per crew, crew turnover, hires using a professional crew agency.

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Costs of food provisions will vary dependent upon how eloborate food Preferenaces are

Location will play huge factor in food provisons and thing may have to be folws into remorte locations.

Crew is one of the largest expenses on a superyacht and critical to the owner’s enjoyment of their vessel. As the largest crew agency in the world, we know crew. Our cost calculator contains customized crew lists for yachts ranging from 80ft to 600ft with salary information based on our reference verified salary data.

Our users also have the ability to completely tailor the crew list to the specific needs, schedule and requirements of their vessel. Each yacht is unique and may have specific owner requests in addition to the yacht’s safe manning requirements.

Management of the supplemental crew costs and strategic budgeting can help avoid significant overspend on categories such as food and uniform. This tool contains default values based on our industry expertise and recommended budget for an efficiently and safely run superyacht.

To learn more about each crew position in detail, including salary ranges, please visit our yacht department directory .

Drag the sliders to modify your results. These are not linear scales and we expect most yachts to operate within the 20-80% window. Above 80% and below 20% costs increase or decrease at exaggerated levels and we only see numbers in these levels in very rare circumstances.

This sunburst diagram is interactive. You can click into each block to see the expense break down and mouse over each block for more details.

Our chart of accounts displays seven major categories, 20 sub-categories plus a further 80 detail categories for a total of 107.

Our yacht operating cost calculator is now on it’s third major revision. We start with actual yacht expense data from our yacht management accountants and then generate formulas to extrapolate out the budget for a wide range of yachts. We have been providing accounting services to large yachts for the past 18 years.

Our operating cost calculator is tuned for yachts from 80 to 600 feet. We find operating variables create the largest variances for yachts smaller than 100 feet and larger than 250 feet. We have tested the numbers the most in the range from 100 to 250 feet.

Our budget calculator factors in the fuel burn for a range of engine sizes typically seen installed on yachts by length. By dragging the green “fuel dockage” slider to the right you will increase the projected fuel burn rate and therefore the budget cost for fuel. Our default position would be for a typical displacement fuel burn. Position the slider in the 60-80% range for fuel projections for planning hulls.

Our default values produce a budget number that we believe is generous to run a yacht to a high standard. Perfect is a very expensive word to use in the yachting industry where standards are already high. Moving the crew and maintenance sliders to 80% will provide an “industry best” quality of crew and give them the maintenance budget to operate to a very high standard. If you need to go over the 80% area then you may have unusually labor intensive equipment on the yacht.

Yes, our yacht operating cost calculator can output a budget suitable for this situation. Adjust the owner use to 2 (minimum value), owner slider to 0, crew slider to 10%, Administration to 10%, Fuel and Dockage to 0, Maintenance to 10% and then Capital Repairs to 0. This will remove all of the large charges associated with owner use and vessel movement but leave the essential base maintenance and insurance in place.

Lift on and float in yacht transport is a popular way to transport yachts across large ocean passage. The yachts that this service certainly applies to are ones that may not have the motoring range or structural integrity for blue ocean cruising. The cost of transporting a yacht twice per year is put into our budget once the “Fuel Dockage” slider hits 75%. If your yacht has the range we recommend self-sufficient ocean passages whenever possible. Whilst the transport companies sell their services based upon reportedly well oiled operated schedules the reality is that your yacht may stay waiting for pickup for a week or more with no compensation due. When factoring in all secondary factors of self-sufficient passages (increased fuel, maintenance, potential storm damage, crew time off, extra delivery crew) compared with transporting your yacht (insurance, potential loading / unloading damage, loss of schedule control, no work whilst underway, crew flights, crew accommodation) we believe that there is a 100% premium associated with float in transport and a 75% premium with lift on transport compared with self-powered.

Abandoned yachts crash in value. We recommend that even if you are trying to sell your yacht that you use the yacht for a minimum of two weeks per year so that systems are tested and working every six months. There is nothing worse for a yacht than not being used. If you truly are not going to use the yacht then you should sell it immediately for the first genuine offer as every dollar you put into maintenance will not be recovered at the time of the sale.

We did not build this version with sailing yachts in mind. Early in our development of this version we decided to exclude sailing yachts as a few of the major cost drivers scale very differently for sailing yachts compared with motor yachts. For example: To calculate paint costs we reviewed the surface area of over 100 large yachts and created a formula for painted surface area to length. Sailing yachts just don’t scale in a consistent way. Similarly crew numbers don’t scale in the same manner that they do for motor yachts. If there is sufficient demand we may build a sailing selector switch into a future version of this tool.

We hate to hear when yacht owners were told by their broker to factor in 10% of the purchase price to operate the yacht. This over used saying is sadly right occasionally (particularly for newer yachts in the $20-30M range)… but just because a broken watch tells the right time twice a day you shouldn’t rely upon it to tell the time. As yachts get older their capital value decreases but their maintenance costs increase. There is no way that a fixed 10% of purchase cost rule can be true… if your broker told you this rule then you need a new yacht broker… we know some good ones. 😊

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Used Yachts For Sale From 161 To 190 Feet

Listed below are used yachts for sale worldwide from 161 to 190 feet. Use the search tools to narrow your exploration. SYS Yacht Sales offers a wide range of luxury used yachts for sale, including mega yachts, long range cruisers, expedition yachts, motor yachts, pilothouse yachts and everything in between. Search world-renowned manufacturers like Westport, Trinity, Horizon, Feadship, Benetti and much more. Need assistance? Contact our experienced yacht brokers. We look forward to helping you find the yacht that's right for you.

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How Much Does it (Really) Cost to Own a Yacht?

The true cost to own a yacht is an area of concern for many prospects of yacht ownership. And it should be.

Maintenance costs, exploitation costs, total cost compared to yacht charter, we detail in this article the expenses (especially the hidden ones) you have to consider before buying your first yacht !

We also provide you several solutions to lighten your investment and reduce the cost to own your yacht. 

If you are looking for the price of a yacht charter (rental), please read this article instead .

How much is a yacht?

Before diving into the expenses that comes monthly, yearly or every decades once you own a yacht, let’s answer the elephant in the room: How much is a yacht (alone) in the first place? The short answer is… it depends, of course. But in most cases, the longer the yacht, the higher is her selling price.

Generally speaking, you can expect to find yachts for sale in the following price ranges:

• Below 50ft (15m): between 500K – 2,500,000 € / USD
• Between 50-70ft (15-21m): between 2 millions and 6 millions € / USD ( See our 9 catamarans for sale under 6 millions here )
• Between 70-100ft (20-30m): between 6 millions and 20 millions € / USD
• Superyachts over 100ft (30m): minimum 10 millions € / USD

You can always find exceptions to the rule and find cheaper or more expensive yachts for sale outside of these price brackets.

A lot of factors come into the selling price of a yacht: supply and demand, brand / model reputation, age and condition of the vessel, urgency or lack of for the sale and so on.

What are the main hidden costs that come with yacht ownership?

You probably already guessed it, the cost of owning a yacht doesn’t stop at its purchase price . In some cases, the price you bought your yacht at can seem like a bargain, but it really isn’t once you start adding all the hidden costs, and many of them come yearly.

Here are the main ones you should be wary of.

Yacht exploitation and running costs : always calculate them carefully before buying your yacht

It always cost you money to exploit your yacht.

When you are chartering a yacht, a part of these operation costs is included in your APA (Advanced Provisionning Allowance) .

When you own a yacht, these costs still apply , but you will have to pay directly for them.

Among the main operation costs, the most important are usually the following:

• The fuel: its cost will depend on the type of boat, her fuel consumption, the region, and the distances traveled;
• The mooring fees which depends on the area but also on the boat size;
• The crew, if you need it. The cost will depend on the frequency and the crew’s size;
• The communication fees;
• The food and beverages supplies;
• All the expenses related to your leisure activities.

Yachts maintenance: a cost that you should definitely not overlook

Even outside of its operating period, it still costs you money to own your yacht!

Maintenance of your boat isn’t an option and must be done on an ongoing basis. The price vary depending on the type of yacht you are owning (motor, sail, etc…), the size of the vessel, but also how old she is.

The maintenance costs include :

• The regular maintenance of certain equipment, like engines, thrusters, sails, rigging, safety equipment, hull(s) (fairing)…;
• The occasional maintenance operations in case of breakdown or damage;
• The painting;
• The cleaning and the specialized maintenance products (for teak, leather, …). 

The costs of maintenance and upkeep will obviously not be the same if you do it yourself or if you call in specialists. But regardless, you should have a budget buffer dedicated to maintenance costs when you plan on buying a yacht, especially if she already had a long sailing life.

The taxes and insurance premiums of a yacht: a cost that most forget

Consider the different taxes (at the purchase and annual) and the yearly yacht insurance that you have to pay. A specialized insurance policy is generally estimated at between 0.8% and 1.2% of the boat’s purchase price per year.

Must Read : Yacht Insurance : The Definitive Owner’s Guide

Yearly harbor fees : a very important hidden cost of yacht ownership

The port and/or winterization fees are also a big part of yacht ownership costs that you should carefuly estimate.

Depending on your region, you may need to consider “dry-docking” your boat, which involves handling, transport, and storage which can be really expensive. 

If you can leave your yacht in the water all year round, you will need to go for a harbor ring concession.

Depending on the marina and its infrastructure, the region, and your boat’s size, the costs may considerably vary from a few hundred dollars to thousands of dollars a month . However, it is easy to obtain this information from marinas once you have chosen which yacht to purchase.

The depreciation’s price of a yacht

A yacht, like a car, will depreciate . It is difficult to estimate the depreciation, as it depends on economic conditions, exchange rates, price inflation when new, the type of boat, and the shipyard. 

However, it is reasonable to estimate a minimum depreciation of 10% in the first year, then 7% in the following years. From the fifth year on, the depreciation tends to slow down. On the other hand, the operating costs increase.

Summary of the main operating and maintenance costs of owning a yacht

So, to sum up, how much does it cost to own a yacht? It largely depends on your type of yacht and your location.

But in general, owning a yacht will cost you between 10-25% of its value annualy . The longer the yacht, the likelier you are to be at the end of the spectrum.

Here are the reasonable costs you could consider:

• 10% of its value annually for a 60ft (18m) / 1 million USD yacht and below (=max 100K / year)
• 20% of its value annually for a 100ft (30m) / 10 millions USD yacht and above (=min 2 millions / year)

These brackets of total costs include everything: usual yacht maintenance, upkeep and operating costs that will be distribued as follow:

• Communication
• Maintenance
• Insurance premiums
• Harbour fees
• Cost of depreciation

Are you worried? Do not. Luckily, there are numerous ways to decrease the overall cost of yacht ownership and still enjoy yachting as it should be. Read the next paragraphs to know these valuable tricks.

If you liked this article you will also like : HOW MUCH DOES IT COST TO CHARTER A YACHT?

How to reduce the cost of yacht ownership?

A yacht keeps on costing money even when not in use, so the best way to make it a more profitable investment is to increase its exploitation.

Renting your own yacht : a good way to reduce the costs of owning a boat

When you are not using the boat, you can earn income by renting it out. The rental price depends on the type and size of the boat, but also its location. While making money from renting is possible, don’t expect to pay back all your expenses. Nevertheless, it will help you in avoiding your yacht becoming a financial burden. 

The easiest way to do this is to hire a professional charter company to help you. If you go for a reputable and experienced company, you will benefit from their expertise and contacts. It will also save you from legal, insurance, and withdrawal issues and avoid red tape.

On the topic : Yacht to Charter : Can It Be Profitable?

Fractional yacht ownership: share the cost of owning a yacht with co-owners

Another solution to own a yacht at lower cost is fractional ownership of a boat , which means that you own a fraction of it. It can be half, a quarter, or even less. For a long time, boaters have been opting for this option of partial ownership with friends or family. These days some companies create formalized fractional ownership arrangements for more guarantees. 

For example, in partnership with the Windward Islands, SAILING RESORT proposes fractional boat ownership on the fabulous trimaran, the LEEN 72’. So you can become a co-owner of the new hybrid-powered multihull which can accommodate up to 10 passengers and 4 crew members. You will enjoy private use of the trimaran (depending on the period) from 6 to 12 weeks during the first 5 years.

This program proposes a profitable commercial operation with 24/7 premium service. It is a tailor-made solution for all those who want to feel like owners of a prestigious yacht for a few days a year while limiting their investment and responsibilities. WI manages the operation of the yacht for you out of your personal use, like the charter’s organization, maintenance, insurance, annual mooring, and all other administrative tasks.

Once you have weighed the pros and cons and have the means to finance both the purchase and the annual costs (maintenance, operation, …) of your yacht, you should go for it! Indeed, if you can evaluate the hidden costs and expenses of owning a boat, the freedom and unforgettable memories are priceless. 

Yacht Charter remains a cheaper alternative than yacht ownership in many cases

If you can’t enjoy your yacht frequently or are still unsure about whether it’s worth the cost or not to own a yacht, you might consider chartering instead. This will allow you to try out different models , from various shipyards, and see which ones you prefer.

Therefore, the cost of renting a yacht will save you from having to worry about all those hidden costs of owning one. All you have to do is pay for your charter, your cancellation insurance and set your APA during your stay. This way, you only pay money, time, and effort when you use the boat.

What is the (true) cost of chartering the yacht you've seen? 💰⛵

The advertised prices of all charter companies do not include APA, VAT & other variable costs. 

Use our calculator to get a 100% FREE estimate of the REAL total cost of your next yacht charter! ⬇

Read also : SUSTAINABLE YACHTING: HOW IS THE BOAT INDUSTRY BECOMING MORE ECO-FRIENDLY?

Frequently asked question

For a 60-foot or million-dollar yacht, the cost per year will be about 10% of its value or $100,000 per year.

You should expect to pay about 20% or more of the original price of your boat to run it annually. So, for a $10 million yacht, the cost to operate will be about $2 million per year, including fuel, insurance, dock fees, maintenance and repairs, crew, etc.

A 180-foot superyacht and/or mega yacht costs a minimum of $4.75 million per year to operate and maintain. Kitty McGowan of the US Superyacht Association estimates an annual budget of $1 million for maintenance and repairs, $350,000 for dockage, $240,000 for insurance, $400,000 for fuel, and $1.4 million for the crew. Add another 15-25% of the vessel’s value for V.A.T.

Once you have weighed the pro and cons, if you can afford the purchase and all the hidden annual expenses, have found your dreamed yacht, and have time to enjoy it, you should go for yacht ownership!

It is not the best way to make money, but you can minimize your annual expenses by renting it or opting for fractional boat ownership.

It’s hard to tell. As long as you have the money and enough time to enjoy it, it is worth owning a yacht! Everything cannot be estimated. For example, it will bring you invaluable freedom and happiness.

One of the easiest way to reduce the maintenance cost of a yacht is to fractional yacht ownership. That way, the maintenance expenses are spread among co-owners according to their shares.

It varies greatly depending on the size of the yacht. For a yacht of 60ft (18m), you will likely spend around 10% of its purchase value each year in maintenance and exploitation costs.

Luxury yachts have maintenance and operation costs that are around 10% of their value yearly. So if a yacht value is 2 millions USD, its maintenance and operations costs should be around 200K / year.

Operating a sailboat is usually 20-40% cheaper than the same size motoryacht. Motoryachts tend to be more expensive to operate than sailboats as the fuel consumption can become an important expenditure fast.

A small yacht below 50ft is usually for sale between 500K and 2,5 millions USD / €. A mid-size yacht between 50ft and 100ft is usually for sale between 2-15 millions USD / €. Above 100ft, the selling price is rarely below 10 millions USD / €.

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Best 200ft (60m) Yachts for Charter

113 60m yachts for charter.

Reserve your 200ft or 60-meter mega yacht for charter with Northrop & Johnson. A 60-meter yacht charter offers more than a holiday. Aboard a 200ft (60m) yacht, you will enjoy the prestige of chartering one of the world’s most luxurious vessels.

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Expect a delightful welcome when you arrive in ports in the Mediterranean or in the Caribbean. Enjoy the best of Saint Tropez, Porto Cervo, Ibiza, or Mykonos in the Med or the BVIs and Bahamas in the Caribbean. Alternatively, cruise remote regions in incredible comfort and luxury. A 200ft (60m) yacht for charter is often built for long-range ocean cruising with full displacement hulls and state-of-the-art stabilizers, both at anchor and underway, ensuring the utmost comfort even in remote areas.

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What are the most exclusive 200ft yachts for rent?

Northrop & Johnson has a great selection of 200ft megayachts for charter. Expect six, seven, or eight staterooms on your yacht, perfect for an extended family holiday, up to seven couples, or even a corporate yacht charter.

Northrop & Johnson has a refined selection of motor, sailing , and explorer yachts for rent at 200ft and above with a dedicated captain and crew. Let us arrange a superyacht charter vacation that exceeds your expectations.

Famous 60 meter or 200ft boats

• 200’ft (60m) KAISER
• 200’ft (60m) BELLA VITA
• 200’ft (60m) FORMOSA
• 200’ft (60m) COME TOGETHER (unique brand new hybrid yacht)

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At Burgess, we know that superyacht ownership gives you year-round access to the superyacht lifestyle; the opportunity to design a custom charter vacation for family and friends; to work from the privacy of your on-board office base; explore new countries and cultures around the globe; and more... The question is, why will you buy a superyacht?

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Be it a stunning motor yacht or a luxury sailing yacht , we have the experience within our team to guide you through the process from negotiations to surveys to completion, Burgess will protect your interests at every stage of the yacht buying process.

From finding The One to stepping aboard as the owner, the Burgess brokerage team has your back. 

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How much money is a 200-foot yacht?

Purchasing a mega yacht.

Large yachts are some of the most luxurious vessels on the water. While the size does play a vital role in the overall aesthetics, the materials, layout, and overall ambience is oriented to relay sophistication and place the yachter in an elite group. If you are looking to purchase a yacht, there are several LOA lengths available, reaching all the way up to 400’. A good medium is around 200’. But how much does a 200-Foot yacht cost?

What is the brand you seek?

There is no definitive answer for how much your 200-foot yacht will cost. There are a few factors which must be considered. Primarily, the brand and the fleet from which the boat originates will be a factor. The more luxurious and elite a yacht brand, the more apt it is to have a higher price tag. Brands which hand make their yachts will be substantially higher than those which use a machine fabrication process.

What is the power configuration?

A second consideration to the price of a 200-foot yacht is the motor configuration. Yachts of this size have inboard motors, usually two or three, which can be customized and ramped up for more power. Additionally, the brand of the motor will affect the cost. CATs (Caterpillar diesel fuel engines) are the norm. However, you may find Yamaha and other brands used in some yachts.

Layout and materials

The third consideration of the cost of your 200-foot yacht is the layout and the materials which are used. The MSRP of the yacht generally is priced before the customization of materials and upgrades. As such, the addition of marble, costlier woods, accent metals, and such would increase the cost to manufacture. Consequently, the cost of the boat would increase to cover the fees allocated for the upgrading.

Does it come with a Dory?

Many 200-foot yachts are priced to cover the cost of the main boat as well as the dory or the tender boat. If you already have a tender or a dory for the Yacht, you may be able to negotiate the cost. Consider also, if you do not have a Dory or a Tender boat and the price does not include such, you will need to negotiate the price into the cost.

What are some of the base price cost for some of the top yachts?

While the factors listed above do influence the cost of the yacht, there are a few brands which have listed their base price for their 200-foot models. Keep in mind that these costs are subject to change and are only rough estimations. The costs are:

• Benetti 197 – $29,950,000
• CRN 196’ – $44,553,600
• MetalShips & Docks 59m – $43,254,120
• Supernova Global Explorer – $36,696,270
• Proteksan Turquoise – $29,076,550

As you can see, the average base price is around $30 million and goes up from there. The 2019 market is around the $40 million base price. You might be able to find older models for around $20 million dollars or less, depending upon the features and the packages.

The unlisted cost

While you may be able to get a rough cost of the purchase, there is a cost which is never listed, and that is the cost of ownership. Maintenance, crewing, docking, repairs, and such should be factored into the overall cost of the boat. It is one thing to purchase the yacht, but then you must be able to keep it up and running in pristine condition.

Finding the right 200-foot boat for your budget

The price of a 200-foot yacht varies considerably and finding the right yacht can be a daunting task. It is recommended that you use a yacht broker when seeking your yacht. But before you turn to a yacht broker, you should take the time to do some research on your own. Vessel Vendor is a great place to start.

Vessel Vendor has an abundance of materials to help you find the perfect 200-foot yacht. We have brand reviews, boat specifications, and manufacturer summary pages. Additionally, our site is oriented to offering pre-owned yachts for sale from the top dealerships, manufacturers, vendors, and listers. Browse our selection of Yachts and let us know if you find a ship that you like.

Do you have a 200-foot yacht you wish to sell? Our professional mega yacht brokers can help your vessel reach maximum exposure to target potential buyers. Vessel Vendor is the top online listing site in the world, meaning you will have a higher probability of a quick sale with our yacht brokerage company than with other listing services.

Should you wish to learn more about the cost of a 200-foot boat (including the cost to own), listing or purchasing a 200-foot yacht for sale, or if you would like more information about Vessel Vendor, please fill out the appropriate online form and we will get back to you as quickly as possible. We look forward to hearing from you soon and welcome to the Vessel Vendor family.

Vessel Vendor is the best solution for buying a boat online. Our website connects qualified boat buyers with private boat sellers and co-brokerage listings to allow for the high visibility of available boats for sale on the market. Our brokerage firm and advanced website makes finding the your dream boat at an affordable price easy.

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Disclaimer: The Company offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.

Mechanical Disclaimer: Engine hours are as of the date of the original listing and are a representation of what the listing broker is told by the owner and/or the actual reading of the engine hour meters. The broker cannot guarantee the true hours. It is the responsibility of the purchaser and/or his agent to verify engine hours, warranties implied or otherwise, and major overhauls, as well as all other representations noted on the listing brochure.

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MAJESTIC YACHT SPECS

More About MAJESTIC

Summary of the MAJESTIC Yacht Specs

Status: This yacht is only on our website as a sold yacht.

For the complete MAJESTIC yacht specs in table view see below. Built by luxury yacht builder Feadship , the luxury motoryacht MAJESTIC measures in at 200ft / 61m. She has a beam of 35.76, and a draft of 10.8, and she measures in at 1,052 gross tons. She sleeps up to 14 guests in 7 staterooms and has accommodations for 18 crew. She is propelled by engines at 2,000 hp each Her maximum speed of 16 knots and a cruising speed of 12 knots. Her decks are Teak and hull is Steel.

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Contact: Merle Wood & Associates | web(Contact us at)merlewood.com | +1.954.525.5111

Short Specification

1,052 GROSS TONS

Feadship | 2007

200 ft / 61 m, 35.8 ft / 10.9 m, 10.8 ft / 3.3 m, detailed majestic yacht specs, hull & dimensions, guests & crew, performance.

Overview Of MAJESTIC Yacht Specs

1,052 Gross Tons

18% of Length

5% of Length

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For additional information, the price, photos and location, select one of the options above. Here you will find more detailed information about the MAJESTIC yacht. For more information on the MAJESTIC yacht specs, scroll down.

About The MAJESTIC Yacht Specs

For more information on the MAJESTIC yacht specs or your own  custom yacht report , simply contact a  yacht broker  at Merle Wood & Associates. As an internationally recognized leader in the sales, marketing and chartering of the most discerning yachts world-wide, we are dedicated to enhancing the yachting lifestyle and enjoyment of all our clients.

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The Real Costs of Owning a Superyacht [Complete Guide]

November 25, 2019 1:00 pm

Owning a  superyacht  is a status symbol available only to the world’s wealthiest individuals and corporations. Although there is no strict definition, the Red Ensign Group Yacht Code is applicable to “motor or sailing vessels of 24 meters in load line length and over…and which, at the time, is in commercial use for sport or pleasure and carries no cargo and no more than 12 passengers 1 .” There are currently just over 10,000 superyachts in the world with around 200-250 new builds delivered each year. The vast majority are  motor yachts , with sailing yachts counting for less than 20% of the total. The world’s largest private vessel, Khalifa bin Zayed Al Nahyan’s 180m (590-foot) AZZAM,  cost $600 million to build when it was delivered in 2013. Eight of the ten most expensive luxury acquisitions of all time were superyachts.

Purchase Cost

Buying a new or used superyacht will most likely cost the buyer several million dollars. Pricing varies widely based on the yacht size, age, and other factors such as builder, guest capacity, speed, range, and more. The market is worldwide and extensive. Any potential buyer would be well-advised to engage a professional, certified broker to guide them in the selection of their dream yacht and through the myriad of complications in making the purchase.

• • Financing the Purchase
• • Immediate Post Purchase Costs

Operating Costs

In years past, owners and their brokers would work on 10% of the purchase price as an estimate of annual operating costs, but the vast range of yacht size, operating location, and usage profile makes this approach less useful without giving the question more thought. Building a budget for a yacht requires consideration of the following elements:

Crew – Salary, payroll taxes, recruitment fees, uniform, health insurance, food, and travel for vacation and repatriation are all crew-related costs. A good guide for salary costs is published by Dockwalk magazine every year based on an extensive survey of the crew and placement agents. Using their most recent article as a guide, a crew of eight full-time crew on a 150-foot yacht will cost over $650,000 per year in salary alone. Get a complete crew cost breakdown.

Dockage – Unless the owner plans to spend the year at anchor, then keeping the yacht in a marina incurs a significant cost. Dockage is normally sold per foot of the yacht’s full length and per night, although contract rates for longer periods may be available. High-quality marinas in peak seasons are currently running in the $6-8 per foot per night range. Electricity, fresh water, and waste removal are all additional costs to be considered.

Fuel – The captain or engineer should be able to provide the fuel consumption per hour at any given speed, so if a yacht owner knows roughly how much he wants the boat to travel, then he can estimate the total fuel consumption and budget the fuel cost. There is also the fuel cost for generators, particularly at anchor. A typical 150-foot motor yacht cruising at 12 knots will consume in the region of 150 U.S. gallons per hour. At today’s fuel prices, that’s going to be close to $500 per hour. 500 hours per year will give us the main engine fuel budget of around $250,000. To this, we must also add the generators’ fuel consumption at anchor plus any additional cost for tenders.

Communications – Everyone onboard, crew and guests, want to remain connected to their social media, streaming services, and email. The technology available in this area moves fast and with 5G coming online, near-shore costs will likely come down. For those who want broadband speed while offshore, costs are high and depend on the upload/download speeds required. Start with an estimate of $4-5,000 per month and work from there. Additional communications costs include satellite TV subscriptions, crew cell phone costs, mail, freight, and more. Get a complete communication cost breakdown.

Maintenance, Consumables, and Other Operating Costs – Having considered crew payroll, marina costs, fuel, and internet, the budget will start to materialize. One must take all other costs into account, such as hull insurance, liability insurance, maintenance and consumables, warehousing, safety and survey costs, upkeep of the navigation outfit, computing support, car rental, and more.   

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• • Offsetting Expenses With Charter
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This should not be considered a financial guide. For a more accurate estimate, contact Clive McCartney .

1 Red Ensign Group Yacht Code Section A 1.2(1) 

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How Much Does a Yacht Cost?

11th jul 2023 by samantha wilson.

We hear the question, “How much does a yacht cost?” on a regular basis, and it’s a difficult one to answer. Much the same as with houses, the prices vary in a surprising way depending on size, style, age, and finish (not to mention location). We’re talking millions of dollars in price difference for yachts, as well, because there are yachts of many different sizes with all the same variations. But first, let’s tackle the more fundamental question, “What is a yacht?’

What Classifies as a Yacht?

To begin with, a yacht can be a sailing yacht or a motor-powered yacht. Merriam-Webster Dictionary defines it as “any of various recreational watercraft: such as a) a sailboat used for racing; b) a large usually motor-drive craft used for pleasure cruising.” Size is not technically part of the definition, but in modern practice, size has a whole lot to do with it.

Many in the industry classify a boat as a ‘yacht’ from 40 feet up to 70 feet, although there are others who will include vessels as short as 33 feet . Not too many years ago, yachts as small as 80 feet (24 meters) were considered superyachts, but with the proliferation of much larger yachts, 130 feet (40 meters) is a more common yardstick. Beyond that are megayachts, variously defined as beginning at 165 feet (50 meters) or 200 feet (60 meters). 

The point is, there are no hard-and-fast rules, and what may be one person’s pretty little 20-foot sailboat may be another’s luxury sailing yacht. And any shiny, private vessel 40 feet and up will be called a yacht by almost everyone.

While size is the main determining factor in labeling boats as yachts, amenities aboard also play a role. For example, yachts frequently have cabins and heads below allowing for overnight stays, as well as a galley, and plenty of deck space for leisure. 

The term ‘yacht’ has become synonymous with luxury, especially with the boom in huge superyachts across the world. But a yacht doesn’t have to be fancy. A sprightly 30-foot trawler yacht might look to some like a luxury palace, but Jeff Bezos and the guests aboard his brand new $500 million sailing yacht Koru would probably see it differently. 

Cost of Buying a Yacht

Looking for an average price across all types of yachts isn’t helpful either, with sizes of yachts varying from 30 to 300 feet. And that doesn’t take into account whether a boat is new or used.  Broadly speaking, in the United States you can often buy a small used sailing yacht for $15,000 or less, and you can expect that figure to go up to $50,000 or $100,000 for a small motor yacht. A larger motor yacht, or even a new 40-foot day boat, can easily run up to $1 million or more. Superyachts, of course, will cost multiple millions of dollars. 

Cost of Owning a Yacht

The cost of owning a yacht goes far beyond the initial purchase price, and even if you’re in the market for a small yacht, you’ll need to factor in the annual costs which include:

• Marina fees: These will vary depending on your location and the size of the boat. Expect to pay from $5,000 for a yacht at the smallest end of the scale up to tens of thousands for larger yachts.
• Insurance: As a general rule, you can expect to pay around 0.5 percent of the value of the boat annually. Check out our guide to boat insurance for more information. 
• Maintenance and repairs: As a rough estimation you can expect to spend around 10 percent of the value of the boat on upkeep each year. This might be lower if it’s a new yacht.
• Fuel: This will vary depending on how far you cruise and how large the yacht is.
• Crew: Yachts up to 70 or 80 feet often don’t require a crew, but the larger the yacht, the more crew it will need. Crew salaries range from $3,200 per month for junior crew to $10,500 per month for captains and chief engineers. In general, a yacht of 80 to 100 feet in size will require a crew of between two and eight, while yachts between 100 to 200 feet will require between 8 and 20 crew members.
• Depreciation: Brand new boats depreciate the most and the quickest, with most depreciating by 40 to 50 percent of their initial price over the first 8 to 10 years.

Read more about the Real Costs of Boat Ownership as well as Top Tips to Lower the Costs . 

Types of Yachts per Cost

When we talk about yachts and their values, we usually refer mostly to the length of the yacht as that tends to be the identifying factor, but the style, engine size, and finish also play a huge role in determining how much they cost. Here we take a look at the average price differences between new and used yachts in the United States at varying sizes. 

How much is a small yacht? (25 to 40 feet)

A small yacht around 40 feet (often referred to as a cabin cruiser) is often considered an entry-level yacht, but a big step up from much smaller day boats. These are likely to have cabins, heads, and a small galley, and most offer the chance to spend weekends onboard. Prices will vary widely depending on whether it’s a used or new boat, and depending on the model, finish, and engines. New and recent-model yachts around 38 to 40 feet may cost anywhere from $250,000 to over $1 million, while the price of older models is often substantially lower. The average price in the United States for all new and used yachts sold between 36 feet to 45 feet was $238,000 according to the Boats Group Market Index of 2022.

When we’re looking at smaller yachts around 25 to 30 feet , these are unlikely to have cabins and so are considered day cruisers. Motor cruisers between 25 and 30 feet range from $70,000 for an almost-new model to well over $100,000 for a brand new one. Of course, yachts with smaller engines and simpler layouts will have considerably lower price tags, but those with premium finish and accommodations may cost much more—for example, a new Ranger 29 (pocket trawler) starts at over $350,000. See our guide to the different types of boats for a better understanding of what is available and what might be right for you. 

How much is a medium-sized yacht? (40 to 70 feet)

Mid-sized yachts that fall within the 40- to 70 -foot category vary in price from around $250,000 to well beyond $4 million, a figure that depends on the size, model, finish, engines, and extras, as well as whether it’s a brand new boat or used. According to the Boats Group Market Index of 2022, the average yacht price in the United States of vessels 46 to 55 feet was $467,899 with 2,273 boats sold, while the average price for yachts in the 56 to 79 foot category was $1.18m with 997 sold in 2022. 

Yacht prices vary a lot depending on whether the yacht is new or used. As an example, the base price for a new Viking 58 is $4.1 million, a three-year-old model can be purchased for $3.5 million for, and a 10-year-old model for $600,000. Check out our new and used luxury yachts for sale on Rightboat for more comparisons. 

How much is a sailing yacht?

Long before the combustion engine was invented, yachts (or sailboats) graced our oceans for centuries. While these days we tend to think of yachts as the luxurious motor vessels that far outnumber their sailing counterparts, sailing yachts have their own class. As we’ve seen with motor yachts, the size, age, and finish of a sailing yacht will determine the price tag, with prices ranging from $5,000 to several million dollars—and much more for superyachts. The largest sailing yacht in the world is Sailing Yacht A , which cost an estimated $600 million and measures 470 feet in overall length. 

When referring to larger sailing yachts—and by larger we are talking about 100-foot yacht prices—there is a “rule of thumb” estimate of $1 million per 3 feet in length. So a 100-foot yacht may cost in the region of $30 million. But sliding back down the length ladder, it’s possible to pick up a small, used sailing yacht for a fraction of that. A 55-foot yacht that has been sailing for a few years may sell for around $700,000, whereas a new one could easily retail for $2 million or more. An older (30 to 40 years) sailing yacht of 30 to 35 feet might cost only about $25,000 while a brand new one might cost $250,000 and more. See what you can get for your money with our sailing yachts for sale on Rightboat. 

How much is a luxury yacht or superyacht?

Superyachts are some of the most luxurious vessels on the sea, and they don’t come cheap. As mentioned, yachts above 78 feet (24 meters) are accepted by many as superyachts; when they range up over 165 or 200 feet, some in the industry refer to them as megayachts. This term is still debated in some quarters, so you may hear yachts over 300 feet referred to as superyachts too.

Superyachts require a full time crew to manage them, and this adds considerably to the overall cost of running such a large vessel. Given that, how much does a superyacht cost? The costs vary, with some estimates of up to $1 million per foot of length to build a new top-of-the-line custom superyacht. Used superyachts will cost less than a new build, and you may be able to buy a 10-year-old, 90-foot superyacht for around $2.5 million—although most owners will engage in a significant and costly refit every 10 years. Models less than five years old will be closer to the $4 million mark, while a brand new one will cost around $9 million. Check out our listings for superyachts for sale all across the world. 

How much is a megayacht?

When we reach megayacht status, prices skyrocket along with the length of the vessels and the volume of the interiors. The largest megayacht in the world is currently Azzam, 590 feet long at a cost of $600 million to build. Yachts in this class are the most luxurious in the world, and feature large swimming pools, helicopter pads, huge guest and crew accommodations, beach clubs, and much more. The upkeep of vessels of this size can run to $20 million or more for the crew fees, fuel, mooring fees, insurance, food, and maintenance. If you want to set eyes on the world’s most astounding superyachts and megayachts check out our superyacht travel guide to where you might find them, or use our search to discover megayachts for sale . 

Written By: Samantha Wilson

Samantha Wilson has spent her entire life on and around boats, from tiny sailing dinghies all the way up to superyachts. She writes for many boating and yachting publications, top charter agencies, and some of the largest travel businesses in the industry, combining her knowledge and passion of boating, travel and writing to create topical, useful and engaging content.

More from: Samantha Wilson

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How much does a yacht cost | ultimate breakdown guide.

 October 14, 2019

Complete guide to “How much does a yacht cost?” including superyachts and megayachts. Includes the cost of owning and operating a yacht. Yachts and superyachts are symbols of success. They appeal to wealthy individuals but are also extremely useful business assets. In this article, we’ll explore how much does a yacht cost. Also, we’ll answer how much does a superyacht cost and how much does a mega yacht cost. Then we’ll identify additional yacht costs such as fees and taxes. Next, we’ll give example breakdowns of the price of yacht and the price of a superyacht. Finally, we’ll explain how Assets America ® can help fund your transaction, and then answer frequently asked questions regarding the cost of yacht. Note that we’ll devote a separate article to yacht operation and maintenance costs. This article focuses on how much does it cost to buy a yacht.

How Much Does a Yacht Cost?

To know the context for how much does a yacht cost, we define some important terms.

Yacht Terms

• Yacht: A sailing or powered watercraft between 39 and 78 feet in length, accommodating up to 6 guests.
• Superyacht: A luxury yacht ranging in size from 78 to 200 feet in length, accommodating 6 to 12 guests.
• Megayacht: A luxury yacht greater than 200 feet long holding more than a dozen guests.
• Cabin Cruiser : A luxury powered boat between 23 and 38 feet in length.
• Day Sailing Yacht: Small yachts, often with a retractable keel, daggerboard , or centerboard and no cabin.
• Weekender Yacht: Medium-sized yachts, typically up to 31-feet long. Usually, they have lifting keels or twin keels allowing shallow-water operation for two-to-three-day journeys. Normally, weekender yachts have a simple cabin sleeping two to four passengers along with a small galley.
• Cruising Yacht: The most common private yacht, with good handling, onboard comfort, sufficient interior space, and capable performance. Typically, they have a teardrop-planform hull with a deep single-fin keel.
• Luxury Sailing Yacht: Larger yachts powered by wind and engines, with many luxury features.       Typically, yacht makers construct these boats with fiberglass hulls and plenty of automation, lighting, navigation aids, hot water, and more.
• Racing Yachts: Yachts optimized for fast sailing, with heavy and deep bulb keels, tall masts, and large sails.

Average Cost of Yacht

New yachts over 100-feet long have an average price of a yacht equal to $1 million per 3.3 feet in length. In other words, a 100-foot yacht will, on average, cost more than $30 million. Older yachts below 85 feet are less expensive. For example, an 84-foot yacht originally built in 2002 and renovated in 2015 sold for $1.45 million.

The average price of a yacht that is preowned, entry-level, and in the 30 to 35 foot range, is about $100,000.

How Assets America ® Can Help

Whether you need to borrow $20 million or $1 billion to acquire your yacht, Assets America ® can most assuredly help.  We can arrange short-term or long-term financing for the purchase or refit of yachts, superyachts and megayachts. We can provide financing much more rapidly than most typical funding sources do, and we can arrange financing even if your bank declines.  Call us today at 206-622-3000 for a confidential consultation, or simply fill out the below form and expect and prompt response!

Apply For Financing

How much does a superyacht cost.

Superyacht prices are high but variable. For example, the world’s most expensive superyacht (the History Supreme) has a price of $4.5 billion. And at only 100 feet, it is too small to qualify as a megayacht, even though it certainly has a mega-price! On the other hand, a world-famous golfer purchased a 155-foot superyacht for $20 million, a sweet deal. The average price of a superyacht is $275 million.

How Much Does a Megayacht Cost?

The most expensive megayacht, measuring in at 536 feet, cost $1.5 billion. A 1990, 344-foot megayacht can be yours for $210 million. So, the prices of megayachts can vary greatly. In other words, there is no clear answer to how much does a mega yacht cost.

Video:  Million Pound Mega Yachts for Sale – Documentary 2019

Additional Costs of a Yacht

A few states don’t have sales tax: Delaware, Montana, New Hampshire, Oregon — and to some extent Alaska. If you buy a yacht in any other state, you’ll owe state sales tax. On a $1 billion yacht purchase, a state like Texas with 6.25% sales tax will collect $62.5 million. You can buy a yacht in a state without sales tax and use it in another state. However, you will eventually have to pay a use tax. Florida caps yacht sales tax at $18,000, but California has no cap.

Municipalities that charge local sales tax could add a percentage point or two to your tax bill.

Most states also assess property taxes on yachts. Marinas may assess a tax on boat slips. Some states will refund fuel taxes on yachts since they don’t use roads.

Yachts with bathroom, eating, and sleeping facilities qualify as second homes. You can deduct the interest on the yacht’s mortgage, but national tax law caps the deduction at $750,000.

A yacht purchased for business purposes is a capital asset that you can depreciate. This would apply to a charter, rental, or fishing yacht that you use to generate income. If you buy a used business yacht for $1 million or less, it might qualify as Section 179 property. If so, you can deduct the full price in the year of purchase.

There are some minor fees you may have to pay when you acquire a boat. For example, you may have to register your yacht with the International Registry, which has fees of $550 to $1,500. Also, you may pay an annual tonnage tax, a ship radio station license fee, and certificate of insurance. Other fees include those for :

• An annual Maritime Security and Compliance fee
• Private Yacht Limited Charter Compliance Certificate
• Minimum Safe Manning Certificate
• Continuous Synopsis Record (CSR) Document
• Annual Yacht Service
• Intended Registration and Vessel Under Construction Registration

Cost Breakdown

When you want to know how much does a yacht cost, you need to know the cost factors. A yacht’s price directly ties to its construction costs, which include:

• Design: The design requires expertise in marine and mechanical engineering. For example, the designers must undertake many stability and hydrodynamic studies. Also, the design must be esthetically pleasing.
• Construction: It can take many months to construct a large yacht. You must factor in materials, equipment, and labor. Luxury-yacht buyers may want expensive and/or rare materials. One yacht, the infamous History Supreme, contains dinosaur fossils and meteorite stone! But less outlandish materials, such as fine woods and precious metals, still contribute to high construction costs.
• Engine: The number and power of yacht engines can greatly impact cost. Naturally, all things being equal, a sailing yacht should cost less than a comparable motor yacht. It requires huge power to propel a large megayacht, and an elaborate engine room to operate those engines.
• Interiors: Large yachts have many rooms, including galleys, heads, bedrooms, meeting rooms and more. In addition, electronics are important cost items.

FAQs — How Much Does a Yacht Cost?

How much does a 50-foot yacht cost.

A 50-foot yacht is a good candidate for weekend duty. A 2014 convertible sportfish costs just under $2 million. An example price of yacht (51-foot 2013 Azium Magellano 50) is $670,760. A 52-foot 2017 Carver C52 Command Bridge sells for $1,149,000.

What is the cost to build a yacht?

Mid-level yachts cost about $25 to $35 per pound to build. Higher-level-yachts have average construction costs pf $45 to $65 per pound. The top vessels built with exotic materials and hi-tech systems can cost $80/pound to build.

How much does a 60-foot yacht cost?

A 60-foot yacht is about the largest size that an owner operates. A new Hatteras M60 can easily cost around $3 million. However, you can get a 2007 60-foot Sunreef 62 for $735,000.

How much does a 100-foot yacht cost?

Superyachts in this range contain many amenities. You can buy a new 100-foot AB 100 for just over $8.8 million. But let’s face it, you can spend hundreds of millions on big yachts. Your only limits are your imagination and most importantly, of course, your wallet!

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Great experience with Assets America. Fast turn around. Had a lender in place in 30 minutes looking to do the deal. Totally amazing. Highly recommend them to anyone looking for financing. Ronny is fantastic. Give them a call if the deal makes sense they can get it funded. Referring all our clients.

Assets America guided us every step of the way in finding and leasing our large industrial building with attached offices. They handled all of the complex lease negotiations and contractual paperwork. Ultimately, we received exactly the space we needed along with a lower than market per square foot pricing, lease length and end of term options we requested. In addition to the real estate lease, Assets America utilized their decades-long financial expertise to negotiate fantastic rates and terms on our large and very unique multimillion dollar equipment purchase/lease. We were thankful for how promptly and consistently they kept us informed and up to date on each step of our journey. They were always available to answer each and every one of our questions. Overall, they provided my team with a fantastic and highly professional service!

Assets America was responsible for arranging financing for two of my multi million dollar commercial projects. At the time of financing, it was extremely difficult to obtain bank financing for commercial real estate. Not only was Assets America successful, they were able to obtain an interest rate lower than going rates. The company is very capable, I would recommend Assets America to any company requiring commercial financing.

Assets America was incredibly helpful and professional in assisting us in purchasing our property. It was great to have such knowledgeable and super-experienced, licensed pros in our corner, pros upon which we could fully rely. They helped and successfully guided us to beat out 9 other competing offers! They were excellent at communicating with us at all times and they were extremely responsive. Having them on our team meant that we could always receive truthful, timely and accurate answers to our questions. We would most definitely utilize their services again and again for all of our real estate needs.

Assets America is a great company to work with. No hassles. Recommend them to everyone. Professional, fast response time and definitely gets the job done.

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Assets America helped us survive a very difficult time and we most definitely give them 5 stars!

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How Much Does It Cost To Buy A Yacht?

By Rob Bowman | Posted On Aug 09, 2021 Updated On Dec 12, 2023

If you're new to owning a boat and want to experience the luxury lifestyle, buying a yacht is the perfect way to indulge yourself while also creating unforgettable memories on the water. From anchoring at a secluded island in the Caribbean to cruising the coastline enjoying the fall colors, yacht ownership opens up limitless possibilities to explore the beauty of Mother Nature. It can also create quite the adrenaline rush if a sportfishing boat is more your style. There are many benefits to hiring a professional yacht broker when you plan on buying your first yacht including having someone on your side when evaluating the right price, for the right vessel.

So how much does it cost to buy a yacht on average? In 2021, the average selling price of a yacht is approximately $640,000, with prices ranging from $300,000 to over $15,000,000. This average selling price represents all pre-owned boats from 40-feet to 100-feet, power (not sail), and sold in the Southeastern United States, including the large Florida market. The data collected for this sales price was from the boating industry's MLS system.

This 50-foot flybridge yacht (seen below) was sold around the average selling price mentioned above and is a good example of what you can expect when spending over $500k . It features several bedrooms for overnight trips, a galley, a nice flybridge seating area, and a lot of comforts you would find at home.

A yacht can mean vastly different things to different people depending on their style of boating, where they live, what they plan to do on the boat, and the amount of equipment they choose. A 50-foot yacht can vary in price by several hundred thousand dollars depending on how new it is, its engines, brand, and amenities. Having a conversation about your needs and budget with a professional yacht broker can answer all of these questions and take the guesswork out of your search. 

While the average price of a yacht sold in the Southeast this year is $640,000, buyers can find yachts for less if they are willing to go a bit older and/or a bit smaller.

• According to the list of 2021 sold boats, the average selling price for yachts between 40 and 50 feet was $329,000.
• Yachts under 40 feet are generally called cruising boats and can still feature a lot of the same amenities found on larger vessels.
• How much does a small yacht cost? Examples of active boats on the market right now show a sizeable difference in price depending on the length and year. For example, a 2021 40-foot Intrepid boat is listed for over $800,000 , while a 2011 Intrepid 40 is listed for under $400,000 .

(Seen below: This Cabo 40 would be considered a smaller yacht and is listed for under $375,000.)

The larger, newer, and more extravagant yachts can cost $5 million and higher. Forbes.com identifies a superyacht as a vessel ranging from "79 feet to more than 590 feet in length." The average selling price in 2021 for yachts over 100-feet, according to the industry MLS database, came in at just under $1 million. Of course, there were several superyachts that were between $10 million and $50 million on the list.

A prime example of a superyacht would be " ANTITHESIS ", a Horizon Yachts 136 that had an asking price of $7,990,000 at the time of sale. This superyacht featured 5 luxury staterooms, a pilothouse with full electronics suite, a jacuzzi, sauna, 2 water-makers, 2 generators, and a lot more top-end equipment. Yacht owners looking to cruise long distances or possibly turn the vessel into a yacht charter business would be interested in a boat of this stature.

( Seen below: This Horizon 136 required massive engines that gave it a range of over 1,400 nautical miles. )

The cost of a yacht is not the only cost to consider. Purchasing your new boat is the largest upfront expense, however, there are also the costs of owning a yacht that need to be considered. This is again where hiring an experienced, professional yacht broker can really pay dividends and take a lot of the stress out of the process. Things like insurance, storage, routine maintenance, captain and crew salaries, all need to be factored in to your expectations. We dive into this a bit more in our articles Why Are Boats So Expensive? and What Should I Spend On A Yacht?

Despite the potentially high cost of yacht ownership, it is still an excellent investment in your well-being and will bring countless joyful memories. There is no other recreation in the world that brings families and friends together, while enjoying the wonders of the ocean.

( Seen below: CHIMERA is a 60-foot Hinckley sailing yacht listed for over $1 million. )

While the purchase of sailboats still account for less than 10% of all boats sold, sailing is still a popular past-time which has some very passionate enthusiasts. According to Trade Only Today , in 2019 and 2020 there were more than 1,100 sailboats sold in the United States. As you begin to figure out exactly what type of boating you want to enjoy, as well to learn the advantages and disadvantages of different boat types, you can begin to narrow down the selection process.

Below is the average cost to purchase a small yacht broken out by type :

• Sailboats Over 40': $193,000
• Sailing Catamarans - All Sizes: $361,000
• Power Catamarans - All Sizes: $304,247
• Downeast Yachts - Over 35': $532,240
• Sport Fishing Yachts - Over 40' and in Southeast: $815,500

With so many factors to determine how much it costs to buy a yacht and maintain it, it is in the best interest of boat buyers of this magnitude to speak with a certified professional yacht broker. "Pricing a yacht in this market can be a difficult thing," said Brian T. Franc , CPYB and manager of United's Emerald Coast Division. "Pre-owned prices are definitely inflated due to lack of inventory, but there are still some great opportunities if you are fast and have someone watching the market daily on your behalf. As someone who has been in the yacht brokerage industry for almost 30 years, I can tell you that working with a professional makes a difference. We can tell almost immediately whether a boat is over-priced, what it will likely sell for, and whether or not it is the right boat for your needs.

Other Related Articles Of Interest :

• Can I Sell My Yacht Without A Broker?
• Why Are Sportfishing Yachts So Expensive?
• What Is The Best Time Of Year To Sell A Boat?
• How Much Should I Pay For A Yacht?

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How Much Does a Yacht Cost to Build?

The cost to build the world's largest superyachts is a closely guarded secret.

By Kim Ayling

The freedom that comes with owning your own yacht is unrivaled and, if you have the funds to do so, the joy of building your own is even better. However, with prices easily creeping up into the hundreds of millions, and even billions, we ask the all-important question: how much does a yacht cost to build?

Unsurprisingly, the total cost to build the world’s most famous yachts is a closely guarded secret, but there are a few fairly reliable estimations sailing around the industry. One standard way to work out how much a yacht will cost to build is price per gross weight. However, while this can be a helpful guide in valuing yachts, it doesn’t always correlate.

For example, it is thought that Lurssen’s 590-ft Azzam , which features a bulletproof owner’s cabin, an onboard golf practice suite and a submarine, cost in the region of $600m to build. At approximately 13,136 gross tons (GT), that would have made her around $45,676 per GT.

REV , on the other hand, which while still in construction is set to surpass Azzam as the largest yacht in the world at an impressive 602ft, is estimated to be costing around $350m to build. Her weight is thought to be around 17,440 GT, putting her at $20,069 per GT. Clearly, biggest doesn’t always mean most expensive. So what does affect the cost of a yacht build?

[See also: How Much Does it Cost to Charter a Yacht?]

REV is thought to be costing around $350m / ©REV Ocean

Custom vs pre-designed yachts

Firstly, you need to decide the kind of yacht you want: custom or pre-design. Naturally, a custom yacht build will be more expensive. But, for that extra cost, you will get full control over the design, the finish and everything in between.

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A pre-designed yacht on the other hand will save you both money and time. This category of yacht is built based on an existing model, with finishing touches such as interiors, tenders and layout completed when she’s bought. Obviously, this leaves owners with a lot less freedom over their yacht, but it is considerably cheaper and can be delivered in a matter of months instead of years.

Choosing a yacht builder

The world of shipbuilding is dominated by a few key players. For a fully custom build, the likes of Lurssen, Feadship, Oceanco and Royal Huisman (among several others) rule the roost. With builders like this, you can expect to pay a higher price, but for that, you’ll receive years of experience, industry prestige, and cutting-edge technology and techniques.

The most prestigious shipyards will also inevitably have the most skilled team. The team involved in building a yacht is, to put it simply, vast. From start to finish, hundreds of pairs of hands will be involved in the process, with the key players including a yacht designer (interior and exterior), a naval architect and an engineer, as well as a huge team of skilled laborers. There will also be an owner representative working closely with the shipbuilder to ensure the project is delivered in time and to the buyer’s exacting standards.

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The cost of your yacht build will of course include the wages of each of the experienced people involved in making it, so if you want the best, expect to pay for it.

[See also: Discovering the World’s Most Exciting Superyacht Concepts]

Viva by Dutch shipyard Feadship / ©Feadship

What affects the cost of building a yacht?

Naturally, a huge variety of factors will impact the total cost of building a yacht. Size is of course one of the main considerations, but materials are another key factor that will dramatically impact cost. Aluminum, for example, is favored for being an impressively lightweight hull material but ton for ton, it is far more expensive than steel.

Onboard technology will also see the final cost creep up rapidly. Demand for smart yacht technology, for example, is continuing to grow, with more owners wanting to replicate the ease of voice control tools that they enjoy in their home, onboard their yacht.

And things that we might take for granted on land such as high-speed WiFi become more complicated – and more expensive – on the water. Kitting your yacht out with a satellite dish can set you back anywhere up to $50,000 which while doesn’t sound much in the grand scheme of a multi-million-dollar ship build, is just one of many hidden costs.

How much do yacht toys and tenders cost?

The yacht itself is just the start of the story when it comes to working out costs. On top of the build, potential owners will need to kit out their boat with all the latest toys and tenders – from submarines to helicopters – which can add a serious amount to your total.

For example, a self-drive submersible by Triton Submarines , which will allow owners to see the underwater world in a completely new way, will start at around $15m. Similarly, while you can pick up a low-grade, second-hand tender for a few thousand dollars, a top-of-the-range option will easily creep into the millions.

Ultimately, the only way to work out exactly how much a yacht will cost to build is to make a serious inquiry with a broker, who will be able to connect you with a yacht builder. From here, you can collaboratively work together to ascertain your budget and exactly how much your perfect yacht will cost.

[See also: The Most Innovative Yachts of the 21st Century]

Oceanco, who made the sleek Esquel, is one of the best yacht builders in the world / ©Oceanco

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16 Yacht Charters That Make for a Strangely Affordable Family Vacation

Posted: December 11, 2023 | Last updated: December 12, 2023

While a yacht may be the first thing that pops to mind when you think of the ultra-wealthy, chartering one might not be as expensive as you think. When you're splitting the costs between several family members or friends you are paying for transportation and stay and it can make sense financially.

You can also  keep money in your wallet  by selecting an older vessel or taking charge of sailing yourself (hiring a crew always costs extra).

So let’s take a look at options that may be within reach for people who aren’t living paycheck to paycheck but aren’t brunching with the Kardashians either.

Editor's note: prices are subject to change and may vary depending on the time of the year.

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San Antonio motor yacht

The San Antonio is a luxury motor yacht measuring 146 feet in length that was built in 2018. This huge vessel is capable of accommodating 36 guests in 18 cabins.

The cost to charter it starts at $21,000 per week plus expenses, not including a crew of eight (which we recommend).

Divide the cost by capacity, and that’s only $583 per person per week to start. That’s practically unbeatable for a boat of this size, allowing you to make other savvy moves with your money .

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Virginia Mia motor yacht

Constructed in 2001 (with several subsequent refits), the Virginia Mia is another luxury motor yacht that’s 95 feet in length.

Custom-designed by Nuvolari Lenard, this vessel can sleep eight guests in four cabins as well as an additional crew of four.

Still, thanks to the age of the yacht, the cost of chartering starts at $15,000 plus expenses per week, or just under $2,000 per guest sans crew.

Nautilus sailing yacht

White motor yachts are convenient and luxe, sailing yachts promise a more traditional experience.

At nearly 125 feet, the Nautilus is a large option styled by Robert Delus. Built in 2008, it sleeps 10 guests in five cabins. At this size, you'll likely need a crew of six.

The cost to charter this beauty starts at $17,500 per week sans expenses, again just under $2,000 per person — which really isn't bad for all you're getting.

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Aegean Clipper sailing yacht

The Aegean Clipper is another sailing vessel, this one built all the way back in 1999 — which translates into cost savings for you.

The yacht is another biggie at nearly 135 feet. With 11 cabins, the boat can accommodate up to 24 guests plus five crew members as needed.

In total, your group will have to shell out a minimum of $13,000 plus expenses per week — just over $379 per person. That's a great deal, comparatively speaking.

Silver Fox expedition yacht

If you're looking for something a little smaller that can go the distance, the Silver Fox expedition yacht might be for you.

Built in 2009, the 72-foot yacht accommodates six guests in three cabins for a more intimate experience. There's room for a crew of two if you need their expertise.

With a starting cost of $16,500 per week, the Silver Fox will run each person over $2,700 per week, but the small group may be worth it.

Tivoli expedition yacht

Traveling with a group of the same size but want more length and a bigger crew?

The Tivoli expedition yacht, constructed in 2001 and remodeled in 2010, can fit four crew members. This stunner is just over 90 feet long and can take you on those long hauls.

Yes, it will cost more at $25,000 per week, or over $4,100 per person. But if you can afford it, it’s a dream come true out on the open water.

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Shangri-La classic yacht

Classics are classics for a reason, as they stand the test of time. Such is the case with the Shangri-La, a vintage yacht sure to take you to that magical place.

This vessel sleeps six in three cabins and promises to be child-friendly. The Shangri-La was constructed way back in 1965, and it is 82 feet long with space for three crew members.

A week on this rig will cost you $16,500, or just over $2,700 a pop.

Sai Kung classic yacht

Another vintage beauty, the Sai Kung classic yacht was born in 1975 and got a makeover in 2015. That updated this 79-foot vessel that can sleep nine people in four cabins.

Be sure you’re a nautical whiz, as there’s no room for additional crew here, but that will only save you money.

All told, the Sai Kung will set your group back $17,500 per week, just under $2,000 per person.

Glorious open yacht

Outdoor yachts are designed for those who truly want to live outside, which you can do easily on the Glorious.

This sporty 72-footer is ready to help you dive, scuba, and more, with room for six guests in three cabins. You can bring a crew of two for extra help, of course.

Built in 2007 and remodeled nine years later, chartering the Glorious will run you $16,500 per week, again $2,700 per person.

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Speedy T open yacht

Looking for a bigger open yacht that’s perfect for swim buffs? Charter the Speedy T, a vessel that’s 80 feet long and primed for dips in refreshing ocean waters.

Like many of the yachts on this list, it accommodates six guests in three cabins and has room for three crew members.

All told, one week on this sleek ship — built in 1994 and renovated in 2011 — is $19,500 before expenses, translating to $3,250 per head. But the adventure promises to be unforgettable.

Etoile Magique catamaran yacht

With extra stability even at higher speeds, catamaran yachts like the Etoile Magique are great options for adventure.

This 80-foot vessel is roomy for its size, with room for 16 guests in eight cabins. There’s space for a three-person crew, too.

Constructed in 2004 and remodeled a decade later, this is a budget-friendly adventure in the making. At $18,710 per week before expenses, that shakes out to a bit over $1,100 apiece.

Fuerte 3 catamaran yacht

Meaning “strong” in Spanish, the Fuerte 3 catamaran yacht — built in 2004 and renovated in 2010 — offers a more intimate experience than the Etoile Magique, with space for nine guests in four cabins.

On the smaller side, at 67 feet, you can bring two crew members along if you need them. The price tag for one week is around $22,000, or just over $2,400 a pop. This vessel is best in shallower waters.

Astrape sport fishing yacht

If your idea of the perfect vacation is sport fishing, this boat is for you. The Astrape sport fishing yacht comes with top-of-the-line fishing equipment so you can catch your dream fish.

Built in 2008 and remodeled in 2016, the 76-foot vessel sleeps eight in four cabins. It also has room for three crew members.

On the pricier side at $29,000, a week will cost each person nearly $3,700 — worth it if you can show off that once-in-a-lifetime catch, though!

Barefoot sport fishing yacht

Giving us some real Orca energy, the Barefoot sport fishing yacht was built in 2006 — much later than that famed vessel from "Jaws."

The 64-foot boat is designed for fishing in shallower waters, perfect for you and five friends who will share three cabins. Two crew members can fit, too.

This yacht is cheaper than the Astrape at $17,500, so six folks will pay just under $3,000 a head per week.

Prenses Lila gulet yacht

Gulet yachts are known for their tall masts, ample deck space, and Turkish origins — perfect for a Mediterranean voyage.

To that end, the Prenses Lila is an excellent option for groups of 18. At 114 feet with eight cabins and space for five crew members, this boat beckons.

You can charter Prenses Lila — built in 2009 and remodeled in 2009 — for $17,500 per week in September.

Dreamland gulet yacht

The second gulet yacht and the final boat we’re covering is Dreamland, which will surely take you there. 

Constructed in 2006, 12 guests can sleep in six suites on this 105-foot vessel as well as five crew members.

You can book Dreamland for around $26,000 in high season. Divide that by 12, and you land on about $2,200 per person. That might require some financial fitness , but yachts like this don’t come around every day.

Bottom line

Spending your days sunning and swimming aboard a luxurious yacht may seem like an out-of-reach proposition, but we’re here to tell you it’s possible.

In fact, with planning and savvy budgeting, you can score your dream seafaring adventure. You can even use your favorite credit card to book and earn travel rewards .

Traveling by charter yacht is also more environmentally friendly than flying, which means you can feel good about your sailing vacation.

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The Dali Is a Big Ship. But Not the Biggest.

By Ella Koeze

Empire State Building

Approximate

1,454 feet long

MSC Irina Biggest container ship in the world

Up to 24,346 20-foot

containers (T.E.U.s)

200 feet wide

Ever Max Biggest container ship to sail into Baltimore

15,432 T.E.U.s

Eiffel Tower

9,971 T.E.U.s

Container ship of the 1970s

~2,500 containers

Football field

approximate.

Up to 24,346 20-foot containers (T.E.U.s)

Ever Max Biggest container ship to sail in the Port of Baltimore

~2,500 T.E.U.s

Approximate width

Empire State

Biggest container ship

in the world

to sail into Baltimore

Container ship

of the 1970s

Sources: “The Geography of Transport Systems,” by Jean-Paul Rodrigue; VesselFinder; the Empire State Building; the Eiffel Tower; ShipHub; Maryland Port Administration

Note: Widths shown are for the widest point for each ship. One T.E.U., or 20-foot equivalent unit, represents the volume of one 20-foot container, though ships can carry containers of varying sizes.

The container ship that hit the Francis Scott Key Bridge early Tuesday while leaving Baltimore Harbor is enormous. When fully loaded, the vessel, the Dali, can weigh more than 116,000 tons and carry thousands of containers of cargo.

But in comparison with some of the other ships out there, the Dali is a featherweight. The size of the largest container ships has grown, in fits and starts, since the early 1980s. The current largest class of container ships in the world can hold more than twice the amount of cargo that the Dali can.

Container Ships Keep Getting Bigger

20,000 T.E.U.s

Largest ship by capacity

Source: “Port Economics, Management and Policy,” by Theo Notteboom, Athanasios Pallis and Jean-Paul Rodrigue

Note: One T.E.U., or 20-foot equivalent unit, represents the volume of one 20-foot container, though ships can carry containers of varying sizes.

Giant ships have played a central role in the fueling of the modern economy, as global demand for electronics, clothes and other consumer goods continues to grow.

For shipping lines, the bigger the ship, the more cost efficient each voyage becomes.

The rise of massive ships has in turn pressured ports to adapt in order to attract business. For example, when an expansion of the Panama Canal in 2016 allowed larger ships to pass through, major Eastern Seaboard ports reacted by investing billions of dollars, said Jean-Paul Rodrigue, a professor in the department of maritime business administration at Texas A&M University-Galveston.

The ports, including Baltimore, scrambled “to dredge, to expand the infrastructure, to buy new cranes to accommodate these ships,” he said.

In August, the Ever Max, which is over 1,200 feet long and can hold up to 15,432 20-foot containers, became the largest container ship to ever enter the port of Baltimore.

Container ships are only one kind of common commercial vessel, however. Bulk ships and tankers have been on the bigger side for decades, and carry wet and dry goods that include oil and coal — a major export for the Baltimore port. In the 1970s, the decade that the Francis Scott Key Bridge was built, tankers roughly the same breadth and length as the Dali were in use in Eastern U.S. ports.

Bigger ships can create bigger disasters when accidents happen. Size played a role when a 1,300-foot vessel got stuck in the Suez Canal in 2021, causing alarming shipping delays.

The Dali’s size was not necessarily a factor in Tuesday’s accident, and investigators continue to search for sources of the cause. Even for a ship half the Dali’s size, Mr. Rodrigue said, “I suspect the outcome would’ve been the same.”

An earlier version of this article misstated the units of holding capacity for cargo ships. The capacity is measured in terms of TEUs, or 20-foot equivalent units, not containers.

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March 27, 2024 - Baltimore Key Bridge collapse

By Kathleen Magramo , Antoinette Radford, Alisha Ebrahimji , Maureen Chowdhury , Elise Hammond , Tori B. Powell and Aditi Sangal , CNN

Our live coverage of the Baltimore bridge collapse has moved here .

Here's what you should know about the Key Bridge collapse

From CNN staff

Officials recovered the bodies of two construction workers who were on Baltimore's Francis Scott Key Bridge when it collapsed early Tuesday morning after a 984-foot-long cargo ship collided into a pillar.

Maryland Gov. Wes Moore called the collapse Wednesday " a global crisis ."

"The national economy and the world's economy depends on the Port of Baltimore. The port handles more cars and more farm equipment than any other port in the country," Moore said.

Here's what you should know:

• The victims: The six people who are presumed dead were from Mexico Guatemala, El Salvador and Honduras, according to Col. Roland L. Butler Jr, the superintendent of Maryland State Police. Two bodies were recovered and have been identified as Alejandro Hernandez Fuentes from Mexico and Dorlian Ronial Castillo Cabrera from Guatemala. The two workers were filling potholes on the bridge and were later found trapped in a red pickup truck in about 25 feet of water, Butler said. The FBI is handling notifying the victims' families, Butler said.
• Recovery efforts: Authorities are pausing search efforts for the four other workers who are presumed dead, because additional vehicles are encased in concrete and other debris, making it unsafe for divers, Butler said. Once salvage operations clear the debris, divers will search for more remains, he said.
• The investigation: The National Transportation Safety Board is leading the investigation into the fatal incident, according to the agency's chair Jennifer Homendy. During a Wednesday news conference, Homendy said there were 21 crew members and two pilots on board the Dali cargo ship when it crashed into the bridge. She also said a senior NTSB hazmat investigator identified 56 containers of hazardous material, and that some containers are in the water. The agency received six hours of voyage data from the ship and the investigation could take 12 to 24 months to complete, Homendy said. She emphasized that NTSB will not analyze information collected or provide conclusions while on scene of the collapse.
• Looking forward: Department of Transportation Secretary Pete Buttigieg said rebuilding the bridge will not be "quick or easy" but that it will get done. He said there are four main focus points ahead: reopening the port, dealing with supply chain issues until its reopening, rebuilding the bridge and dealing with traffic issues until the bridge is rebuilt. Biden  pledged the full support  of the federal government in the response and recovery efforts. His administration has already conveyed a sense of urgency to open up federal funding to remove debris and ultimately rebuild the bridge. Maryland has submitted a request to the Biden administration for emergency relief funds "to assist in our work going forward," Moore said Wednesday.

It's almost impossible to place people on the bow of ship due to the unstable structure, fire official says

 From CNN's Sarah Engel

Baltimore City Fire Chief James Wallace said Wednesday that the cargo ship's bridge structure and containers at the bow remain unstable.

"It's going to be very difficult, if not impossible, and very dangerous, to place people on the bow of that boat right now," Wallace told CNN's Kaitlan Collins.

"Naturally, we're still very cognizant of the fact that there are hazardous materials on board the vessel itself," Wallace said, alluding to the National Transportation Safety Board saying earlier that 56 containers were carrying hazardous materials.

Wallace said his team is relying heavily on aerial recognizance, including drones. "That's the only way we're able to see in," he said.  

He added that the aerial surveillance has "been able to really assure us right now we have no [chemical] reactions on board." 

"It's just utter devastation," NTSB chief says of the bridge collapse site

From CNN's Aditi Sangal

Jennifer Homendy, chair of the National Transportation Safety Board, called the site of the Key Bridge collapse "devastating."

"It's pretty devastating, certainly, seeing not just what's going on with the cargo containers, but just looking at what was a bridge span — three bridge spans that is pretty much gone. It's just utter devastation," she said at Wednesday evening's news briefing.

She added that she is thinking of families who lost loved ones and those who are waiting to reunite with their lived ones.

NTSB interviewed the Dali's captain and some other crew members today, agency chief says

The National Transportation Safety Board has interviewed the ship's captain, his mate, the chief engineer and one other engineer today, according to Chair Jennifer Homendy.

The two pilots on board the Dali at the time of collision will be interviewed tomorrow, she added.

Cargo ship's voyage data recorder is basic when compared to an airplane's, NTSB chair says

From CNN's Tori B. Powell

The voyage data recorder on the cargo ship Dali was a "newer model" but is considered basic when compared to that on an airplane, according to National Transportation Safety Board Chair Jennifer Homendy.

"But it is very basic compared to say, a flight data recorder, where we would have 1,000 parameters," she said at a news conference on Wednesday.

The NTSB chief investigator Marcel Muise added:

"It's not a ship-wide system recorder, so most of the sensors that are being recorded are from the bridge. So things like GPS, the audio, rudder feedback, rudder commands are recorded on there. But not engineering, the temperature of each cylinder, power distribution sensors."

There were no tug boats with Dali at the time of the collision. That's normal, NTSB chief says

There were no tugs with Dali when the cargo vessel collided with Baltimore's Key Bridge, which is normal protocol, according to National Transportation Safety Board Chair Jennifer Homendy.

Remember: At 01:26:39 on Tuesday, Dali's pilot made a general very high frequency (VHF) radio call for tugs in the vicinity to assist, the NTSB investigator Marcel Muise had said.

"The tugs help the vessel leave the dock, leave the port and get into the main ship channel. And then they leave. Once it's on its way, it's a straight shot through the channel. So there are no tugs with the vessel at the time. So they were calling for tugs," she said.

NTSB chair says she saw some containers that were carrying hazardous materials in the water

National Transportation Safety Board Chair Jennifer Homendy said she did see some of the 56 containers that were carrying hazardous materials in the water.

When asked how many

When asked how many containers of hazardous materials were in the water, Homendy said:

"I did see some containers in the water, and some breached significantly on the vessel itself," she said. "I don't have an exact number, but it's something that we can provide in an update."

Homendy said that a preliminary report should be out in two to four weeks.

This post has been updated with more quotes from Homendy.

Bridge did not have any redundancy, unlike the preferred method for building bridges today, NTSB chair says

Baltimore's Key Bridge did not have any redundancy, which is included in the preferred method of building bridges in the present day, according to National Transportation Safety Board Chair Jennifer Homendy.

"The bridge is a fracture critical," she explained. "What that means is if a member fails that would likely cause a portion of, or the entire bridge, to collapse, there's no redundancy. The preferred method for building bridges today is that there is redundancy built in, whether that's transmitting loads to another member or some sort of structural redundancy. This bridge did not have redundancy," Homendy said.

There are 17,468 fracture critical bridges in the United States out of 615,000 bridges total, she said, citing the Federal Highway Administration.

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Here's who could be responsible for paying for the Baltimore bridge disaster

• The Francis Scott Key Bridge in Baltimore collapsed after a container ship collided with it.
• Several entities could be on the hook to foot the bill in the aftermath of the disaster.
• The maritime insurance industry will likely be saddled with the highest costs. 

The Francis Scott Key Bridge in Baltimore collapsed on Tuesday after a large container ship ran into it, leading to six presumed deaths and millions of dollars in possible damage.

It's still too early to estimate the total economic impact of the disaster, but between the cost of rebuilding the decades-old bridge, compensating the victims' families , and paying out damages for disruptions to the supply chain, the eventual cost of the disaster is expected to be significant.

Who will pay to rebuild the bridge?

President Joe Biden said on Tuesday the federal government should be responsible for paying to reconstruct the damaged Francis Scott Key Bridge.

"It is my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect Congress to support my effort," Biden said.

The bridge was built in the 1970s for about $60 million, but the cost of rebuilding it could be 10 times its original price tag, an engineering expert told Sky News. 

Baltimore is among the busiest ports in the nation , with more than a million shipping containers passing through each year. The collapse — which closed the port to all maritime and most road traffic until further notice — is already beginning to wreak havoc on the supply chain.

The cost of building the bridge back fast enough to offset diversions as much as possible could saddle the government with a more than $600 million bill, David MacKenzie, the chair of the engineering and architecture consultancy COWIfonden, told Sky News.

Who will pay for damages to the ship and its cargo?

The container ship, the Dali , is owned by a Singapore-based firm. The ship's charterer, Maersk, confirmed to Business Insider that vessel company Synergy Group operates the ship. 

However, the companies with cargo aboard the Dali could ultimately be responsible for some of the ship's damages and cargo costs, according to Ryan Petersen , the CEO of the supply-chain-logistics company Flexport, which had two containers on the ship.

Related stories

The Dali was carrying 330 containers that must now be rerouted, Petersen said in an X thread.

An ancient maritime law known as " general average " dictates that companies with even a single container aboard a ship split certain damages pro rata based on the number of containers they had on board, ensuring all the stakeholders benefiting from the voyage are splitting the risk, Petersen said.

General average situations can occur when a ship is stranded or when cargo is damaged or thrown overboard to save the vessel, according to Flexport . The concept helps ensure that all parties who have a vested interest in the vessel share the cost and concern of protecting it.

It's too soon to know whether damages incurred to free the Dali in the coming days will qualify as a case of general average.

Who will pay for everything else?

The majority of the financial fallout is likely to lay primarily with the insurance industry, according to media reports.

Industry experts told the Financial Times that insurers could pay out losses for bridge damage, port disruption, and any loss of life.

The collapse could drive "one of the largest claims ever to hit the marine (re)insurance market," John Miklus, the president of the American Institute of Marine Underwriters, told Insurance Business.

He told the outlet that the loss of revenue from tolls while the bridge is being rebuilt will be expensive, as will any liability claims from deaths or injuries.

The Dali is covered by the Britannia Steam Ship Insurance Association Ltd., known as Britannia P&I Club, according to S&P Global Market Intelligence.

In a statement to Business Insider, Britannia said it was "working closely with the ship manager and relevant authorities to establish the facts and to help ensure that this situation is dealt with quickly and professionally."

Britannia is one of 12 mutual insurers included in the International Group of P&I Clubs, which maintains more than $3 billion of reinsurance cover, sources familiar with the matter told Insurance Business.

Britannia itself is liable for the first $10 million in damages, both FT and Insurance Business reported. Whatever remains is dealt with by the wider mutual insurance group and Lloyd's of London, a reinsurance market in the UK, the FT reported.

Update: March 28, 2024 — This story has been updated to include additional information about general average and clarify that it is too soon to know whether general average will apply in the case of the Dali.

Watch: The container ship that destroyed the Francis Scott Key Bridge has crashed before

• Main content

Baltimore bridge collapse: What happened and what is the death toll?

What is the death toll so far, when did the baltimore bridge collapse, why did the bridge collapse, who will pay for the damage and how much will the bridge cost.

HOW LONG WILL IT TAKE TO REBUILD THE BRIDGE?

What ship hit the baltimore bridge, what do we know about the bridge that collapsed.

HOW WILL THE BRIDGE COLLAPSE IMPACT THE BALTIMORE PORT?

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Writing by Lisa Shumaker; Editing by Daniel Wallis and Bill Berkrot

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Thomson Reuters

Lisa's journalism career spans two decades, and she currently serves as the Americas Day Editor for the Global News Desk. She played a pivotal role in tracking the COVID pandemic and leading initiatives in speed, headline writing and multimedia. She has worked closely with the finance and company news teams on major stories, such as the departures of Twitter CEO Jack Dorsey and Amazon’s Jeff Bezos and significant developments at Apple, Alphabet, Facebook and Tesla. Her dedication and hard work have been recognized with the 2010 Desk Editor of the Year award and a Journalist of the Year nomination in 2020. Lisa is passionate about visual and long-form storytelling. She holds a degree in both psychology and journalism from Penn State University.

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