Pampos Charalambous
Yacht rentals are part of Cypriot culture from year to year, as many Cypriots are now looking for alternative ways and places to host their parties.
Of course, the big picture that wants foreigners, tourists or permanent residents of Cyprus, to own a large share of yacht rentals does not differ, despite the upward trend recorded in the interest of Cypriots.
B achelor and hens party
Normally the demand for yacht rentals in Cyprus is overwhelming during the summer months and comes mainly from Russians and secondarily from many other countries, such as Israel, Egypt, the USA and the United Kingdom. According to the owner and captain of Sea Passion Yachting, Savva Voutirou, one of about 15 large boat rental companies operating in Cyprus, during the winter months the clientele declines to very low levels, although due to the climatic conditions of Cyprus the summer demand is extended until October or November.
“There is great interest in boat rentals from foreigners, whether permanent residents of Cyprus or tourists, although in recent years more and more Cypriots choose to organize their bachelor party or hens party on yachts,” he explained, noting, at the same time, that there is interest in boat rentals and for fishing purposes.
Demand for yachts in recent years is slightly higher, as he tells us, as in general, in Cyprus and abroad, it is something that is embedded in the culture of the world. In the same context, the Cypriots now ask to have different types of parties on yachts (bachelor party, hens party, birthday, etc.).
Rental costs and long trips
Boat rentals, for a period of four hours, have a cost that starts from € 1,000 and reaches up to € 1,500, for smaller boats. However, depending on the size of the yacht, the price can go up to € 10,000, according to the owner of Sea Passion Yachting. Renters usually prefer to rent a boat for six hours while a smaller portion chooses one-day, two-day, three-day or even weekly rent.
It should be noted that the companies' charges for boat rental concern the rental area, as otherwise, due to the cost of fuel, a higher charge is imposed. The cost is significantly higher if the customer wants to travel to destinations such as Greece, Israel, Lebanon and Egypt, notes Mr. Savva Voutirou, adding that in general, there is no limit to what each customer can travel. “However, a long journey also implies a significant amount for the customer, since in addition to the cost of fuel, there is a cost in the relevant licenses for such long-distance travel, as well as the cost of parking in the various ports.”
Storage and maintenance
Owning a boat requires significant funds for its maintenance and upkeep needs. Yacht parking and storage at the Limassol Marina, depending on size, costs from € 4,000 up to € 100,000 per year. As the owner of Sea Passion Yachting, which operates in Limassol Marina, told us, the cost in the private marinas of Cyprus is about the same while in Larnaca Marina the cost is a little lower, as for a small yacht it is around € 3,000. These are pre-determined costs, which are borne by the owner whether he uses his boat or not, while additional are the charges for electricity and water supply, internet supply, the cost for the annual maintenance of the boat, etc.
The marinas of Cyprus
The development of marinas in various areas of Cyprus, which are accompanied or will be accompanied by all the necessary infrastructure and amenities, is another reason that contributes to the increase of Cypriot interest in yachts and especially for rentals. Limassol Marina is one of the most important infrastructure projects in Cyprus and in recent years has managed to attract the interest of Cypriots. It is located west of the old port of the city and has a total of 930 berths, of which 630 berths at sea and 300 places for repair, maintenance, storage, etc. on land at Carnagio. Limassol Marina received its first boats in 2013 while its official operation began in the summer of 2014. It has the ability to dock mega yachts 115 meters.
As for the other marinas of Cyprus, the implementation of which will allow us to set the bar higher, aiming to make Cyprus an international destination for marinas and a regional hub for boats, the Ayia Napa Marina, in the area of Agia Thekla, is located in fully operational from the summer of 2020 and with the completion of the project will provide the possibility of mooring in 600 boats (450 berths in the sea area and 150 places for repair and maintenance on land in the carnagio). At the current stage it has 300 berths. Ayia Napa Marina also has the possibility of mooring mega yachts, up to 60 meters.
At the same time, Paralimni Marina, which will be built in the area of Pernera, in the area of the fishing shelter of Agios Nikolaos, will be able to accommodate 300 boats in the sea area. The first construction projects, for the project that will cost close to € 110 million, have already begun.
Larnaca Marina, which today can accommodate 450 boats (350 berths at sea and 100 berths for maintenance), with the implementation of the largest investment in Cyprus (amounting to € 1.2 billion), which concerns the port and the marina of the city, will increase its berths to 1,000.
The historic St Raphael Marina
St Raphael Marina is the most historic marina in Cyprus. It opened for the first time in the summer of 1986 and was the first large commercial marina not only in our country, but in the entire Eastern Mediterranean region. With a capacity of 237 seats, it could accept yachts up to 30 meters long. The project cost about 25 million pounds, a huge amount for the time, which was invested from abroad.
Paphos Marina: History of obstacles
The implementation of the Paphos Marina project, which when achieved will give a new impetus to Cyprus in this area and in the economy in general, goes back to 1991, however the various legal proceedings that arose, the consortium disputes and the changes of state plans put the project on ice. This is a marina that will have a capacity of 1,000 berths (650 berths for boats and 350 berths for repair purposes), as well as the possibility of mooring mega yachts, which has remained on paper for many years. While the rest of the coastal areas of Cyprus have acquired or will acquire their own marina in the coming years, this very important project for the whole province is still unknown when it will be able to be implemented. This is a project that was designed to be the largest of its kind in Cyprus, as it is strategically located and at a point of attraction for boats from the Aegean.
Attempt to attract modern yachts
Last April, in an effort to attract modern and quality yachts to the Cyprus Register (yachts, yachts and mega yachts), the Ministry of Shipping revised the government's ship registration policy, including technical standards for comply with their registration. The new technical standards set rules for technical matters which were not governed by national law, European Union law or international law.
The new technical standards, which have been in force since April, concern vessels with a cargo length of more than 24 meters and less than 500 GT which are engaged in commercial activities as cargo ships, in commercial activities and carry up to 12 passengers for purposes or used privately for leisure, without engaging in commercial activities and carrying up to 12 passengers.
At the same time, they concern boats that are involved in commercial activities and carry from 13 to 36 passengers for leisure purposes.
According to the Ministry of Shipping, this year 9,091 yachts are registered in the Cypriot register, compared to 8,715 in 2020.
