Published at Monday, May 14th 2018. by daniel amoien in Cruise Ship Cabins.
Unlike fractional ownership of aircraft and houseboats fractional owners of a cruise ship can all use the ship simultaneously. There is plenty of room for you and the other owners to live on the ship any time you want or all the time. You can use it as a full-time residence and so can the other co-owners.
Do the math. If one hundred buyers pool resources in exchange for a percentage of ship ownership the acquisition cost will be divided by that same number. One percent ownership of a $250000 cruise ship would cost a mere $2500 for ship acquisition. At the other end of the scale one percent ownership of a brand new mega cruise ship would cost five million dollars.
On this pre-inaugural cruise I tried two of the specialty restaurants Cagney`s steakhouse and Moderno Churrascaria a Brazilian all-you-can-eat barbeque in which guests signal their servers with a green card (OK I`m ready for more) or a red card (No more please. I`m stuffed). My wife and I have raved about Cagney`s steakhouse on several other Norwegian cruise ships (e.g. the NCL Dawn the NCL Gem and the NCL Jewel) and we enjoyed it just as much on the Epic. On the other hand we were not nearly as impressed with the Epic`s Moderno Churrascaria which is the first such restaurant on any cruise ship. The salad bar was absolutely fabulous (especially the plump shrimp and fantastic gourmet cheeses) but other than the sirloin (which the servers cut right in front of you) my wife and I were both disappointed with the quality of the meats. Ironically my son Greg (who is CEO of Direct Line Cruises) and several of our staff members tried Moderno Churrascaria and really liked it. So don`t take my word for it.
On paper it seems to make good sense to man the ship with a Philippine crew. I love the Philippines. I have been there several times. English is still widely spoken and usually spoken quite well. The people are usually friendly and happy to see foreign tourists. A large percentage of ships worldwide are manned by crews from the Philippines. The Philippine government has a pretty good structure and system to facilitate the export of Philippine labor. In spite of how attractive it seems on paper I would recommend NOT hiring a crew from the Philippines. Philippine workers tend to be envious of others and especially of everybody else`s wages. They tend to think they are getting the raw end of the deal. It is rare to find a Filipino who is happy with his employment. While I am sure there are many good employees from the Philippines there are more who are dissatisfied than satisfied with their employment. There seems to be a cultural anomaly in the Philippines where people feel that employers are bad guys. I would hesitate to recommend a crew from the Philippines in spite of the apparent advantages on paper.
After acquiring the ship it will require some more investment to put it into service. At this point the joint owners will need to reach some agreements on many points. The cost of putting a cruise ship into service as a megayacht (very large private yacht) is much less than putting the ship into commercial service. However if you can afford to buy a ship can easily meet SOLAS 2010 requirements and can afford to flag and register it as a commercial ship then you can use the ship commercially to produce income and ROI (return on investment).
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