LATEST NEWS

January 2012

Pay-by-the-month financing options

Shared Boating now offers a convenient monthly payment plan to help you own your own share of a luxury boating lifestyle. There are plans for three-year operating plan or twelve-month rental. Both plans incorporate the financing repayment and management fees into a single payment.

Syndicate Life Operating Plan

Under our operating plan, you pay a deposit of 15% of the cost of the boat share and then make monthly repayments for the life of the syndicate. These payments include the monthly management fees. At the end of the payment plan ownership of the share passes to you. This means that when the boat is sold you receive your share of the sale proceeds, which you can carry forward to a new vessel or take as cash.

12 Month Rental Plan

This plan offers you all the rights of an owner of the boat for 12 months without actually purchasing equity. You pay the first quarter in advance and then make a monthly payment that includes management fees. After 3 quarters, there is a mutual option to renew for the following year or stop making payments for the last quarter and exit the plan at the end of the 12 month period. At the end of the plan all ownership rights are terminated. You have no equity in the boat. This is similar to the membership style of boatshare offered by some of our competitors without all the hassles of points, overnight surcharges, etc.

1st August 2011

Shared Boating Opens at D'Albora Marina at The Spit

Shared Boating and its sister company, Sydney Powerboat Centre, have become the new anchor tenants at D'Albora Marina The Spit, at Mosman in Sydney.  We have taken over the showroom area and have stocked it with new Four Winns, Quintrex, Seadoo, Zodiac and Triumph boats as well as a range of used boats.

We have an office adjacent to the showroom and have also established a service centre to do our own service work with our own fully trained mechanics and marine electricians.  We have taken over the management of the slipway and are now able to do all types of repairs requiring boats to be lifted from the water.  We can do our own anti-fouling, leg / pod / shaft servicing as well as hull repairs.

Shared Boating is now in a unique position to provide the highest possible quality support to its fleet of syndicated vessels. 

We have a good range of boats available at The Spit for you to choose from.  Press here to see the boats at The Spit ...

1st March 2011

Shared Boating established to operate The Cruising Club, Sydney Boatshare and Boat Syndicates International

Shared Boating has been established by a major boat importer to operate boat sharing programmes in Australia.  In its first initiative in the market it has taken over the business assets and operations of The Cruising Club Australia, Sydney Boatshare and Boat Syndicates International.

These takeovers position Shared Boating as the leading player in this rapidly growing market.

CEO of Shared Boating, Stephen Hennessy, says being aligned with a large importer ensures the company will always be able to source high-quality vessels for its shared boating programmes.  "When you combine our innovative new First Owners' Programme with our ability to directly import boats from the manufacturers, we are in a unique position to place brand new, quality boats into shared ownership." says Mr. Hennessy.

"Our sister company in the group, Sydney Powerboat Centre, has full workshop facilities and mechanical staff available to us to ensure that we can offer the highest possible levels of service to our shared boating owners."

The new company will continue to use the existing individual brands with The Cruising Club targeted primarily at families with boats ranging in price from $9,000 per share to around $50,000 per share.  This equates to boats up to about 40 feet in length.

Sydney Boatshare will continue to focus on the premium end of the market with boats ranging from above $50,000 per share with boats in excess of 40 feet in length.

Boat Syndicates International will be a boutique syndication company offering services to dealers and importers looking to offer syndication products and to groups who wish to have smaller syndicates with individually tailored management services.

All brands will utilise the intellectual property initially developed by Boat Syndicates International, which is fully compliant with NSW Maritime boatshare regulations and satisfies ASIC requirements with regards to not being considered a managed investment scheme or a timeshare scheme.

April 2009

Boat Syndicates International Programme Recognised by NSW Maritime.

On 3rd April, 2009 BSI was advised by the Commercial Vessels Policy Branch of NSW Maritime that our programme had satisfied NSW Maritime guidelines and had been granted "Boat-Share Status".

Recreational not Commercial

This is a significant step for BSI as it means that our boats are considered to be recreational and do not need to be in commercial survey.

This determination by NSW Maritime means that we are not restricted in the boats we can syndicate.  We can utilise boats from all manufacturers, not just those who can manufacture to commercial survey requirements.  There are very few boats less than 50 feet in length that are manufactured in commercial survey. Overseas manufacturers are not prepared to specially manufacture modified small to medium sized boats to suit a small market such as Australia. The handful of Australian boatbuilders who will manufacture in commercial survey have to charge a significant premium to cover the costs of such manufacture.

Ownership Rights Option

Also approved in our submission to NSW Maritime was our option of "Ownership Rights", whereby a person can acquire all the rights of an ownership share for a period of time without taking an equity position in the boat.

This is a great option for people who are not able to commit to a full syndicate term of three years but still want all the benefits of shared ownership under the BSI programme for a limited time.

Annual Ownership

We will be offering a new annual ownership programme, where people can buy ownership rights for 12 months and then optionally upgrade to full equity ownership with recognition given to what they have already paid.