As we mark our first anniversary, Mainstay Consulting Group Ltd is proud to reflect on a year filled with growth, innovation, and a relentless commitment to raising the standards in the yachting industry. Since opening our doors in the British Virgin Islands (BVI) a year ago, we have embarked on innovative projects, tackled complex challenges, and set new benchmarks in the local and regional yachting industry.
While this article provides an overview of our major milestones and projects over the past year, it is important to note that this is not a comprehensive list. Some of our work involves sensitive projects and confidential client engagements, where discretion is paramount. These undertakings, although not publicly detailed, have been integral to our growth and success, reflecting our commitment to providing top-tier, confidential services to our clients. We take pride in the trust our clients place in us to handle these delicate matters with the utmost professionalism.
Leading the Way in New Build Projects
Our first year has seen us involved in several high-profile new build projects, showcasing our expertise and dedication to excellence:
1. Fountaine Pajot Thira 80 – Hull No. 2, Ad Astra: This project stands as a highlight of our first year. Fountaine Pajot, a leader in luxury catamarans, worked with us to mildly customize their Thira 80 model. Our role involved ensuring that every detail of this flagship vessel was meticulously tailored to its specific application and operating environment. This project not only demonstrated our technical knowledge but also our deep understanding of regulatory standards and luxury yachting demands. The Thira 80 is set to be a game-changer in the market, and we are honoured to have contributed to its success. S/Y Ad Astra is now available for charter in Greece.
2. 150-Passenger Day Charter Catamaran: Designed to enhance the day charter experience in the Caribbean, this project allowed us to blend luxury with functionality. Every aspect of the vessel was designed with the end-user in mind, from the spacious deck layout to the state-of-the-art safety features, ensuring a superior charter experience.
3. Sunreef Power Catamaran: Our collaboration with Sunreef, renowned for its luxury power catamarans, allowed us to contribute to a project that embodies innovation and performance. While more standard in nature, our involvement ensured the yacht was precisely suited to its intended use and intended regulatory environment, reflecting our ability to adapt and deliver within established frameworks.
These projects have positioned us as leaders in the industry, with our work on the Fountaine Pajot Thira 80 particularly highlighting our commitment to quality and excellence.
Mastering Crisis Management with Mainstay
In our first year, we encountered several high-stakes situations that required swift and expert intervention. These incidents resulted in constructive total losses, underscoring the severity of the challenges and the level of expertise required to manage them effectively.
1. 55’ Power Catamaran Grounding: One of the most challenging cases involved a 55-foot power catamaran that ran aground, suffering significant impact and flooding damage. Despite the best efforts of all parties, the extent of the damage led to a constructive total loss. This case required meticulous engineering assessments, negotiations with insurers, and collaboration with legal practitioners.
2. 100’+ Sailing Catamaran Struck by Lightning: Another major incident involved a 100-foot-plus sailing catamaran that was struck by lightning, causing extensive damage to its electrical systems and structure. The damage to structural materials was so severe that it resulted in a constructive total loss. Our role extended beyond assessment of damages and repair costings to include intricate insurance negotiations, logistics, and may include disposal in the future.
3. Capsized Charter Catamaran: Perhaps the most dramatic of all was the case of a charter catamaran that capsized and was subsequently abandoned offshore. The vessel was beyond salvage, and this too resulted in a constructive total loss. This incident was particularly interesting in terms of putting together a case with limited evidence.
These cases highlighted our ability to navigate complex and high-pressure situations, drawing on our investigative skills, and deep knowledge of engineering, insurance practices, and relevant maritime regulations and law. In each instance, our priority was to manage the crisis efficiently while safeguarding our clients’ interests.
Welcoming Our First Management Yacht: Jura II
A major milestone this year was the addition of our first management yacht, the 36-meter (120’) classic motor yacht Jura II. Built in 1963 by the renowned Hall Russell & Co shipyard, Jura II is a masterpiece of mid-20th century yacht design, combining timeless elegance with modern functionality. She is poised to become the BVI’s first fully locally-based small superyacht, and we are thrilled to oversee her management.
Jura II is a vessel of rare distinction, featuring a beautifully maintained classic interior by Loro Piana, complete with a formal dining room and a full-sized piano in the salon—unique features that set her apart from other yachts in the region. Her deck spaces are equally impressive, offering expansive areas for relaxation and entertainment, all meticulously restored to preserve her original charm while integrating contemporary amenities.
The yacht carries a professional crew of six, ensuring that up to 12 guests experience unparalleled service and luxury. Her arrival in December will mark a significant step in our quest to set new standards in luxury yachting in the BVI, providing a unique blend of classic yachting heritage and modern comfort.
In addition to managing Jura II, we have also established ourselves as her central agent, handling all aspects of her charter bookings and client relations. While we remain selective about the yachts we manage, this project has allowed us to expand our capabilities and demonstrate our commitment to excellence in yacht management and brokerage.
Supporting Nanny Cay’s Expansion
Our vision for the BVI’s yachting industry extends beyond individual yachts. We have had the privilege of assisting Nanny Cay with planning their upcoming marina expansion. Our contributions include advice on accommodating small superyachts, equipment and machinery specifications, and a basic business case study for the boatyard expansion to lift large catamarans. This aligns perfectly with our management charter fleet’s goals and our broader vision for the BVI’s crewed charter product.
Beyond individual projects, we’ve also made significant contributions to the broader yachting community by assisting Nanny Cay with their upcoming planned marina expansion. This project has been a key focus for us, as it aligns with our vision to enhance the BVI’s standing as a premier yachting destination.
Our involvement in Nanny Cay’s expansion has been multifaceted, ranging from advising on the infrastructure required to accommodate small superyachts to developing a basic business case study for the boatyard’s expansion. This expansion envisions the addition of state-of-the-art equipment and machinery, such as a new travel lift capable of hoisting large catamarans, which is essential for supporting the growing demand for maintenance and repair services in the region.
We also provided strategic input on the layout and design of the new marina spaces, ensuring that they are optimized for both operational efficiency and guest experience. This includes recommendations for berthing arrangements, utilities, and amenities that cater specifically to the needs of superyacht crews and owners, helping to position Nanny Cay as a leading facility in the Caribbean.
Our work with Nanny Cay is not just about infrastructure; it’s about creating a sustainable growth model that will benefit the local economy and the broader yachting community. By facilitating the expansion, we aim to attract more high-end yachts to the BVI, thereby generating new business opportunities and fostering long-term economic development. The success of Jura II, as the first locally-based small superyacht, will further underscore the benefits of this expansion, paving the way for more such vessels to call the BVI home.
Looking Ahead: A Bright Future
As we look to the future, we’re excited about the opportunities ahead. Our focus will be on continuing to expand and diversify our offerings, always with the goal of providing unparalleled service and expertise in the yachting industry.
1. Expanding the Management Fleet: We plan to grow our management fleet selectively, focusing on acquiring additional small superyachts and large catamarans that align with our commitment to excellence. Our goal is to maintain a manageable and exclusive fleet, ensuring each vessel receives the personalized attention it deserves.
2. Specialized Consultancy Services: We are considering bringing on some additional consultants to offer specialized consultancy services in parts and machinery procurement and provisioning. This would allow us to support our clients more comprehensively, ensuring they have fast access to speciality parts and ensuring that our management yachts have the most efficient access to provisions of the highest quality.
3. Partnership with a Private Jet Operator: In our quest to provide a true end-to-end luxury experience, we are in discussions to partner with a private jet operator. This partnership will enable us to offer our clients seamless travel arrangements, from the moment they leave their home to their arrival on board one of our managed yachts. This door-to-door service is designed to meet the highest standards of convenience and luxury, ensuring a hassle-free journey for our clients.
4. Capital Developments and Infrastructure Projects: We will continue to engage in capital developments, particularly in the yachting infrastructure space. Our experience with projects like the Nanny Cay expansion positions us to take on similar initiatives that support the growth of the yachting industry in the BVI and beyond. We are also exploring opportunities to develop new facilities and services that cater to the evolving needs of yacht owners and charter clients.
5. Maritime Asset Tracking and Legal Support: As part of our expanded services, we will be assisting local insolvency practitioners with maritime asset tracking, recovery, and receivership. This will include partnering with local legal practitioners to offer comprehensive BVI maritime legal support, combining real-world experience with expert legal advice. Our goal is to provide a full spectrum of services that address the complexities of maritime law and asset management.
6. Strengthening Our Industry Presence: We are committed to further strengthening our presence in the yachting industry through active participation in major shows and networking events. These platforms will allow us to showcase our expertise, build new relationships, and stay at the forefront of industry trends. We believe that by maintaining a strong industry presence, we can continue to influence and elevate standards in the yachting community.
Thank You for Your Support
We would like to extend our heartfelt thanks to all our clients and the community for their unwavering support over the past year. We invite you to continue working with us as we strive to elevate standards in the yachting industry locally, regionally, and internationally.
We look forward to seeing you at the upcoming shows and networking events as we embark on another year of excellence.
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