Letters From The President of Catco
Hugh Murray
President
The Catamaran company
Tips For Charter Boat Owners Affected by COVID-19 in BVI"
"You gotta know when to hold ''em,
know when to
fold ''em and know
when to run!"
We are being inundated with questions as to what a charter boat Owner should do if he has stopped receiving his income from his charter company. The internet is rife with those armchair ''experts'' advising these unfortunate Owners to ''just go get your boat'', ''sue the thieves'' or ''cut your charter company a break''. It is fair to assume that this situation is going to get a lot worse before it gets much better and trying to put a timeframe on the end of the disaster and the start of the recovery is simply impossible. Working out how long the recovery will then take is no easy feat either.
There are no easy answers here but there are some things that should be borne in mind when trying to come to the correct conclusion. This economic disaster has affected the entire charter industry but not all charter companies have suspended making owner payments so it is certainly not a good sign if some companies continue to pay and others do not.
