It is common for Lithuanians to invest in real estate, land and business. And did you think you could invest in real estate? No, not in the car, on the boat.
The old continent of Europe, especially Greece and Croatia, has developed water tourism, attracting millions of visitors. Vessels are chartered by ship chartering companies, which usually only rent their own vessels. Why? The value of a ship depends on size, equipment, type and other aspects, but in any case it is considerable and starts with the price of one standard apartment in Vilnius. To increase sales, chartering companies attract private investors who invest in new vessels and outsource administration to those companies.
Sailing and motor (pleasure) boats are the most frequently leased. The season in southern Europe is quite long with a weekly lease, so at first glance, the business model looks really good. You enter into a contract with a yacht charter company, buy a ship and expect a return at the end of the year. However, it should be evaluated how many years the ship will sail, what service conditions, eco-economic forecasts. Mostly newer ships are leased, so after 5-6 years the payback of the ship will decrease - what then? Ship for sale. This is the behavior most often pursued by ship investors.
www.nautika.lt estimates that several Lithuanian shipowners, who are looking for warmer sun outside Lithuania, have already used it in this way.
One of the largest ship charter companies in Greece, Istion, with more than several hundred cruise and luxury ships in its fleet, has been operating since 1992. Janis Korounis Istionvadov says that during the 2018 season, the return on ships is around 10% and depends on the value of the ship (which has the biggest impact on the cost of renting a ship).
In conclusion, it is necessary to evaluate all the conditions, to find a reliable partner and, of course, to take the risk - the pleasure of renting boats is highly dependent on the economic situation.