What we do…

Prior to a yacht entering PartnerShips Hibernation Program our engineers inspect the vessel. They quantify the current status of the exterior and interior cosmetics, electronics, air conditioning system, plumbing, hydraulics, engines and other machinery; every aspect of yacht maintenance is considered. We then determine the appropriate minimization program for the yacht based on the reason that it is being hibernated. A written report is prepared which includes an analysis and detailed checklist of what will be done each week and a service estimate is provided. Under certain circumstances it may be appropriate to hibernate the main engines and/or generators. When this is done PartnerShips rigorously follows the guidelines set by each engine manufacturer to execute this process. It generally includes sealing the engine air inlets, closing the emergency air shut-off flaps if installed, sealing exhaust outlets and the crankcase breather. The nuances of each boat are taken into consideration when determining the specific course of action. Attached is a sample list of the activities that are conducted daily, weekly, monthly, quarterly, semi-annually and annually for each yacht in the Hibernation Program.

How Is a Boat Preserved?

When PartnerShips is contracted to hibernate a yacht the boat is often relocated and systems are secured throughout. Each manufacturer of equipment aboard a boat provides detailed manuals for preserving their systems, from engines and generators to air conditioning and head systems. PartnerShips meticulously follows the preservation routines set by these manufacturers. This may include capping intakes, closing vents, securing through-hulls, topping off or draining fluids, and covering equipment. Shades are drawn, runners are put down, air conditioning is minimized, lights are turned off, extraneous refrigeration systems are shut down, and the yacht is properly secured. In addition to these obvious cost saving methods, PartnerShips further reduces expenses through its bulk purchasing and fleet savings on supplies, fuel, parts, equipment, mechanical services, even refurbishment expenses if needed.

Levels of Hibernation

The lowest level of Hibernation is intended for owners who still wish to use or charter their yacht, but want to dramatically cut operating costs. This is accomplished by reducing crew and nonessential supplies, relocating to inexpensive dockage, renegotiating premiums with insurance underwriters, and supplementing crew with our staff as needed. Temporary crew is used for charter and owner use. The higher levels of Hibernation are intended for lenders or other organizations that are in possession of a yacht which will not be used or operated except for broker showings and pre-sale sea-trials. Under these circumstances additional systems are minimized, crew is further reduced, and dockage may be more remote than it would be for an individual owner.

Security

Particular attention is paid to the security of each yacht, especially art work, expensive china, crystal, and personal effects. When PartnerShips takes over a yacht every item aboard is inventoried and secured as necessary. There is a captain assigned to oversee the crew and monitor the yacht. That captain is personally responsible for all activities on a yacht that he is assigned to, and all crew undergo proper background checks. Insurance policies remain in effect or a new one is established which covers all valuables on the yacht.

Cost & Accounting

Before entering the Hibernation Program, PartnerShips will prepare a detailed monthly pro forma estimate. The amount calculated is based on all anticipated expenses. Although actual costs may vary depending on required maintenance and other miscellaneous variables, every effort is made to stay within the parameters set in the pro forma. Each month PartnerShips will provide a detailed accounting of the actual expenses incurred.

Mutual Interest

Our Goal is to maintain yachts in top condition while continually seeking to minimize operational costs. Since most boats in Hibernation are also for sale, PartnerShips’ staff do their part to help represent each yacht in its best light. Specifically, when a yacht in the program is being shown to a prospective buyer the boat is washed and cleaned, the acting captain is always aboard, the crew is dressed in proper uniforms, all light are on, shades are open, cushions are placed out, soft music is playing, and beverages are offered to guests. We will do everything that we can to make a proper presentation of the vessel and help facilitate a quick sale.

Daily Activities	Weekly Activities	Monthly Activities
Quarterly Activities	Semi Annual Activities	Annual Activities