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Charter income and returns
The Negative Capital Leg
A 9 per cent income programme returns 45 per cent of a 444,914 dollar catamaran over 60 months. After a 10 per cent brokerage fee the boat must resell for 61.1 per cent of cost to break even.
Mike Soertsz8min
Charter income and returns
Margin Compression and the Hurdle Rate
Ten year US inflation-indexed Treasuries yielded 2.85 per cent real on 24 September 2026. Published charter programme figures produce minus 4.1 to plus 0.9 per cent a year nominal over five years.
Mike Soertsz8min
Charter income and returns
The Owner-Operator Split
A BVI operator paying owners 75 per cent of bookings bills a 46 foot catamaran 26,330 dollars a year in fixed charges before insurance at 2.5 per cent of hull value, maintenance or any charter.
Mike Soertsz8min
Market intelligence
Yield on Cost
Median catamaran sale prices ran at $335,000 against a median asking price of $459,500 in the second quarter of 2026, with a median 197 days to sell, while Seychelles charter data showed an average booking rate of 48.2 per cent at €9,021 a week.
Mike Soertsz7min
Charter income and returns
The Charter Rate Card
Under MYBA Clause 8 the charter fee covers only the vessel, the crew and the insurance. Fuel, berthing and food are paid on top through an advance provisioning allowance of 20 to 35 per cent.
Mike Soertsz7min
Charter income and returns
Charter Seasonality
Croatia's peak 2026 charter week lists at 7,907 euro against 3,790 at the trough, a 52 per cent fall. The Caribbean inverts the calendar, peaking in March at 10,639 euro.
Mike Soertsz7min
Charter income and returns
Charter Utilisation
The 2026 average charter booking rate across 7,843 vessels with live booking lists is 40.78 per cent of the year, or 20.8 weeks, ranging from 33.76 per cent in Italy to 46.32 per cent in Greece.
Mike Soertsz8min
Market intelligence
Follow the Allocation
Institutions surveyed across 26 countries raised their average infrastructure target allocation to 6.2 per cent in 2026, implying approximately $441 billion of incremental capital against a $147 trillion global institutional asset base.
Mike Soertsz7min
Alternative assets
Buying the Drawdown
Central banks bought a record 288.9 tonnes of gold in the second quarter of 2026, up 62 per cent year on year, while exchange traded funds recorded net outflows of 44.8 tonnes and the price fell 8 per cent quarter on quarter.
Mike Soertsz7min
Alternative assets
The Private Dollar
Stablecoins reached $308.0 billion in circulation on 13 August 2026, of which 99.5 per cent is dollar denominated, while every euro denominated stablecoin combined amounts to roughly €500 million.
Mike Soertsz7min
Alternative assets
The Administered Curve
The US Treasury doubled its long-dated buyback operations from $2 billion to $4 billion between 9 September and 4 November 2026, while markets simultaneously priced a 56 per cent chance of a Federal Reserve rate hike on 16 September.
Mike Soertsz7min
Cost of ownership
Cost Per Day of Use
The US Coast Guard's 2018 boating survey puts average use at 19 days a year across all owned boats. Divide a €55,650 to €114,150 annual stack by that and a day aboard costs €2,929 to €6,008.
Mike Soertsz7min
Cost of ownership
Yacht Depreciation
YATCO puts cumulative yacht depreciation at 10 to 20 per cent in year one and 40 to 50 per cent by year five. On a €900,000 hull that is €90,000 to €180,000 gone in the first twelve months.
Mike Soertsz7min
Cost of ownership
Berth and Marina Costs
Marina di Ragusa's 2026 list charges €6,150 a year for a 15-metre berth. Twelve months at Port Hercule's published monthly passage tariff costs €24,092 for the same length, nearly four times as much.
Mike Soertsz7min
Cost of ownership
Yacht Insurance Costs
Fraser Yachts publishes comprehensive marine cover at 0.5 to 2 per cent of vessel value a year. On a €1 million yacht that is €5,000 to €20,000, a four-fold spread on one hull.
Mike Soertsz7min
Cost of ownership
Maintenance and Yard Costs
Premier Marinas charges £51.25 per metre to lift, wash and block a 15-metre yacht at Port Solent. With relaunch and four weeks ashore the bill is £2,041 before a single hour of labour or a litre of paint.
Mike Soertsz7min
Alternative assets
The Cash Discipline
Gold returned 1.3 percent a year in real terms from 1900 to 2025 against 6.6 percent for equities, and the reason sophisticated capital favours distributing assets is that a payment is falsifiable evidence while a valuation is an opinion.
Mike Soertsz16minUpdated Aug 2026
Alternative assets
The Cost Shock
The 2026 Strait of Hormuz disruption cut global oil supply by 10.1 million barrels a day in March, yet Brent averaged less than in 2022, and operating real assets absorbed it as a cost rather than a hedge.
Mike Soertsz16minUpdated Aug 2026
Alternative assets
The Illiquidity Premium
The illiquidity premium is a hypothesis rather than a property of private assets, and with ten-year US real yields at 2.41 per cent in August 2026 the bar an illiquid asset must clear has risen.
Mike Soertsz16minUpdated Aug 2026
Alternative assets
What Access Means
Family offices hold 44 percent of the average portfolio in alternative assets according to the UBS Global Family Office Report 2025, an allocation explained by eligibility, ticket size and tolerance for decade-long lock-ups rather than superior insight.
Mike Soertsz15minUpdated Aug 2026