LOOKING IN FROM THE OUTSIDE
Russell Stockil of MYBA looks at the internal committees and skill sets of its members from within the wider yachting industry
There is so much more to MYBA than meets the eye and some of its activities are not well known, even to those working within the superyacht industry. With over 420 Members, the Association requires several committees and panels to operate smoothly and each one of them plays an important role in paving the way to a sustainable future.
The MYBA Yacht Management Committee represents yacht owners, managers and operators’ interests to the maritime administrations and international bodies, including MCA and Red Ensign Group, as well as the IMO (via ICOMIA); USCG and European legislature. This representation aims to ensure that the superyacht industry can raise its concerns without delay and resolve any issues before they can impact on the positive development of business, and to provide guidance and input through active participation in working groups to the authorities. This work has, amongst other things, included the development of the Large Yacht Code and its revisions, realistic options for chartering spectator yachts at America’s Cup, the helideck training provisions, and consultation on qualifications and both structural and procedural aspects. In adopting a positive, proactive approach with the authorities, the Yacht Management Committee has become a primary “go- to” body for yachting.
Russell Stockil, who serves on the MYBA Yacht Management Committee, shared his thoughts with us. “Truly effective yacht management requires a multi-disciplinary skill set. As stakeholders in the industry, yacht management has a key responsibility to provide continuity throughout the lifecycle of the yacht with its changes in ownership, captain/crew, flag/class, location/ jurisdiction, and a multitude of service providers each with their own role to play and an agenda not necessarily aligned with the overall best interests of the yacht operation. We need to ensure an effective transition from shipyard to operational status with relevant historical data tracked, recorded, and passed on for each component of the operation. We need to understand banking, insurance, VAT and fiscal implications, employment and HR processes, safety, and Flag State compliance, technical, technological and communication trends, emergency response preparedness and a psychological approach to mental health and harassment issues.”
The MYBA European Union Legal Consortium (MEULC) is also an important part of the Association. The Consortium consists of representatives from 8 legal offices (France, Monaco, Croatia, Spain, Italy, Malta, Turkey, UK) who are on hand to provide guidance, updates, and clarifications on a wide range of issues from cabotage for non – Schengen yachts to Portuguese charters. Corporate MYBA Members are entitled to one hour’s legal advice per calendar year, free of charge, with each one of the MEULC Members.
We spoke with Rob Dolling, Chair of the Tax & Law Liaison, and he told us, “I believe that the MEULC has become a very active and effective part of the many useful arms of MYBA. I have expanded the Consortium’s member countries and we publish regular memos on the hot topics of interest in all the respective MEULC countries so that Members can keep up to speed with current developments. Individual subject memos are produced on various pertinent subjects.
2022 also saw the revival of the MYBA Social Committee. Headed by Fiona Maureso, with the aim to create opportunities for MYBA Members to meet in an informal setting, to discuss topics of interest and re-engage with each other more regularly.
In the next chapter we will present the Environment and Global Initiatives Committees within MYBA and discuss how they will benefit every corner and business within the global yachting community for years to come.
