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Reuters is following a downgrade in credit ratings of nine euro zone countries. They report the euro as likely to post further losses in the coming week. It dropped on Friday the 13th to its lowest against the U.S. dollar in nearly 17 months.
With euro sliding, value prices on Caribbean yacht charter vacations will flourish, says Jana Sheeder, President of SailAway Yacht Charters and 1-800 Yacht Charters.
“Many of the yachts we represent for mega yacht charters are owned by European investors. They set their rates in Euros. It is a currency that is being battered by the downgraded credit ratings of euro zone countries like France, Spain, and Italy,” says Sheeder.
American travelers look to secure rental vacations on European-owned superyachts. They see their US dollar stretch further than in the past two charter seasons.
“US-based travelers were on the short end of the stick for quite some time,” says Sheeder. “As their dollars strengthen, they can upgrade to larger yachts without paying more money. The foreign currency pendulum is definitely swinging in their direction.”
The inventory of luxury vessels for hire is growing. Couple this with low demand due to the global recession. These changes put pressure on charter rates. Charterers rejoice. “The shrinking euro plus excess inventory and low demand is creating tremendous value for United States residents looking to charter in the Caribbean this winter and even in the Mediterranean this summer,” explains Sheeder.
Sheeder and her advisors believe the tumble is not over.
“The breakdown in talks between Greece and its creditor banks means Greece is on the verge of collapse. This could continue the downtrend in the euro,” states Sheeder.
Some currency strategists see the euro possibly hitting $1.25 by the end of next week, with a target of between $1.21-$1.22. The euro plunged to a low of $1.26240, its weakest level since late August 2010, on the EBS trading platform. On Friday the 13th, it last traded at $1.26830, down 1.1 percent on the day. The euro, down slightly on the week, posted its third straight weekly loss, based on EBS data.
“On the bright side,” says Sheeder, the tumbling euro will provide a significant incentive for Americans to book European-owned yachts at a deeply-discounted price for many months to come.”
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This entry was posted in Yacht Charter News Educational and tagged yacht charter specials, yacht charter Mediterranean, euro vs dollar, which is stronger, the euro or the dollar?, .Numptia motoryacht, superyacht HIGH POWER III, EBS, superyacht owners, European investors, economy, special offers on yacht chartersPosted on
People think owners of multi-million dollar luxury yacht charter vessels are selfish and self-absorbed. This incredible story will surprise you.
Presenting SEAWOLF. She is one of the largest yachts in charter. The nearly 200ft motor yacht just delivered humanitarian aid in Panama. This validates the trend of luxury yacht owners getting involved with global aid efforts.
The 193 foot luxury mega yacht charter motor yacht SEAWOLF is the second of two large, high-profile superyachts bringing aid to the Islas Secas area of Panama. An expedition yacht charter vessel, M/Y SEAWOLF delivered supplies for underprivileged residents at Islas Secas on March 4, just two weeks after motor yacht LADY LOLA delivered aid to the same location in mid February.
The 62 meter Oceanco yacht LADY LOLA, well-known throughout the Caribbean yacht charter marketplace, was first to deliver school aid from Panama City to the Islas Secas area of western Panama in the Gulfo Chiriqui.
We would like to extend a hearty thank you to the captains, crews and owners of both yachts for acting as a catalyst to inspire others to do good things.
Perhaps such altruistic actions will help change the perception of the superyacht industry.
Pay it Forward with Random Acts of Kindness, Captain’s orders…
Motor yacht SEAWOLF accommodates up to 12 guests in 6 staterooms and rents for USD $180,000 per week.
Motor yacht LADY LOLA sleeps 10 guests and is available for charter at a weekly rate of Euro €290,000. All running expenses, items such as food, fuel, bar and dockage, are extra.
This entry was posted in Yacht Charter News Special Events Educational and tagged motoryacht charter, random acts of kindness, pay it forward, superyacht owners, yachts providing aid, yachts deliver help, yachts deliver goods to needy, Seawolf, Lady Lola, Panama yacht charter, Islas SecasPosted on