Superyachting for a fraction of the cost

“I’ve learned that there are two misleading words in this industry – one of them is ‘super’ and the other is ‘yacht’,” tech entrepreneur Jasper Smith told Superyacht Life early in 2021. “From the public’s perception, it can look elitist and a bit bling.” As a young man, Smith – a keen sailor – had jumped in a boat and sailed from Australia to Alaska via Kamchatka. He climbed mountains along the way, defining what experiential yachting meant 20 years before it became a trend. He went on to own sailing boats, taking his family to far flung destinations and introducing his children to the yachting lifestyle.

The downside to this dream scenario were the months his boat sat in a marina unused, requiring maintenance and costing money. To mitigate costs, Smith decided to share ownership of a boat with a group of friends. It was his first foray into fractional ownership and would prove to be the nucleus of his marine adventure company Arksen, and its Adventure Syndicate.

Fractional ownership is not a new concept on land – one only has to think of the ubiquitous timeshare holiday homes dotted all over the world – or in the air, where companies such as NetJets and Flexjet are but two well-known examples. Even in superyachting there have been a few ventures into the concept. Floating Life back in 2007, for example, led the way with the YachtPlus fractional plan for a series of 41-metre yachts designed by iconic land-based architects Foster + Partners, and is currently working on a new fleet of 43-metre fractional ownership yachts.

Others, too, are making strides in this developing area of the market, which provides the luxury and privacy of the superyachting experience at a greatly reduced cost to outright ownership – which in turn opens superyachting to a far wider community of potential clients. There are schemes available with SeaNet Europe, for instance, or AvYachts, which offers typically a 20 per cent stake in a vessel in return for a guaranteed six weeks on board per annum for five years.

Fractional ownership is also a neat fit for the post-Covid rise in demand for yachts, and indeed the first model in Smith’s Arksen 85 range, currently in build at Wights Shipyard in the UK, has been bought by a syndicate of experienced yacht owners who are moving up in size. But there is a lot more to Arksen’s proposition than just offering a floating timeshare, and it speaks to the sensibilities of a new generation of ocean users.

With naval architecture by Humphreys Yacht Design, the all-aluminium explorer is robust enough to operate in areas where there may be ice yet compact enough to classify as a small commercial vessel. It has a 7,000 nautical mile range for remote autonomy, two high-capacity watermakers to generate its own drinking water, and a high-capacity sewage treatment system for operating off grid in environmentally sensitive areas.

“I see the boat as a floating expedition base camp,” says one of the first syndicate owners. “I’m a climber and skier turned sailor, so I am excited about the opportunities for alpine missions delivered from our oceanic mountain hut!”

The Arksen proposition also encompasses the Sea Time Pledge, whereby owners are encouraged to donate a portion of their vessels’ annual sea time to scientific research or educational projects. “The fact that we have committed 10 per cent of the boat’s time to these important projects is great,” says the owner. “It allows the kids to be involved in finding solutions to some of our most pressing issues and for the community to share knowledge.”

Syndicate owners collaboratively decide on layout, interior design and water toys. One of the most important decisions is agreeing on the four-year cruising itinerary, which is based on the syndicate’s pre-selected cruising area. Boat one chose Global – the other options being the Americas, Asia or Europe – and its 2022 maiden voyage will take in a UK circumnavigation, exploring some of Scotland’s far flung outposts, including Sula Sgeir, North Rona, Sule Skerry and St Kilda.

“We’re cruising from Southampton to Shetland – hopefully taking in the Faroe Islands – and exploring the ‘roof of Scotland’. I’m longing to make a landing on Rockall, which will be a test for the crew, the vessel and my amphibious scrambling skills,” the owner says.

In its first year, the boat will have its capabilities tested in a variety of environments from the backcountry of east Greenland and the Scoresby Sound Fjord system to Caribbean sun and sand. The syndicate also has Finland, Sweden, Norway and Svalbard in its sights, as well as Med-lounging for summer – all seamlessly arranged by Arksen’s concierge arm, the Explorers’ Club.

“It might sound odd for a cutting-edge explorer, but I can’t wait to hit the Med. I love the culture and pace of life. We’re looking forward to exploring Sardinia and Corsica, and visiting friends for more freediving lessons in Greece,” says the owner. “That said, I think the jewel in the crown for explorer yachting must be the Antarctic and I’ve never been, so I cannot wait to head across the Drake Passage for a cruise of the peninsula, seeking out some ski mountaineering routes and visiting some of the old BAS bases.” 

Alongside downtime and family adventures, the owners will welcome a mix of scientific expeditions. Arksen is a founding partner of the Yachts For Science initiative, which matchmakes owners’ vessels with the marine research community. Projects range from collecting data on deep scattering layers, tagging Mediterranean white sharks and monitoring sargassum to gathering marine environment data for the open source ocean data portal OcToPUS.

“We have a raft of scientific programs we’re trying to fit in with our itinerary, which are all vetted by Dr Lucy Woodall at Oxford University,” the owner says. “We have scientists interested in coming onboard to track and study the ‘Type C’ orca population in Antarctica and the Southern Ocean, which would be fascinating to be involved with.”

Arksen’s aim is to create the world’s largest privately owned research-capable fleet that has sustainability at the fore of design and construction and gifts owners the freedom to enjoy their assets to the full. Every Arksen is built in recyclable aluminium, has the option of a serial hybrid drive system, solar panels fitted to reduce the amount of generator run time, and an optimized hull that requires less power, therefore less fuel, therefore less emissions. 

“Exploration means different things to different people,” the owner concludes. “For me, it’s skiing, climbing and voyaging in great company, and the 85 can carry all we need to fulfil my ambitions – equipment, my friends and family, and a good cellar and larder to keep them all happy!” It’s clear that with fractional ownership schemes the traditional barriers to yacht ownership, kinship and the joy that the superyacht life can bring are coming down – and the desire of new owners to take  positive actions on saving the oceans is going up.