RM3 mil yacht maintenance? Only if you’re having daily parties, says expert

It has been reported that it may cost up to RM3 million a month to maintain the Equanimity.

LANGKAWI: Spending RM3 million a month on the maintenance of a mega yacht is like having a daily lavish party on board while running the yacht’s utilities round the clock, said a luxury yacht specialist.

Mega Yacht Club of Vanuatu Ltd’s operation director, Nicholas de Souza, said such a huge amount would be more than enough to engage highly-paid crew members and senior ship captains on a permanent basis, as well as having additional service staff of up to 25 people.

“…but to spend RM3 million (on monthly yacht maintenance)…it has to be daily parties or a super grand party on a weekly basis,” he told Bernama here today.

de Souza said this in response to a news report that it cost an estimated RM3 million a month to maintain the Equanimity superyacht, which has been handed over to the Malaysian government after it was seized by Indonesian authorities following allegations that it had been bought using funds from 1MDB.

The 91.5-metre long vessel arrived at Port Klang yesterday.

With its length, de Souza said the Equanimity was considered to be in the mega yacht class and no marinas in Langkawi, as of now, would have the capacity to take in a vessel of such size.

Having the experience of handling a fleet of mega yachts in several countries, he said the purported maintenance cost of the Equanimity was well above the normal expenditure of any luxury yacht that he knew.

“The reported figure could have enabled the crew and guests to enjoy luxury, much more than staying in six-star hotels for a long period,” he said.

According to de Souza, even though the cost could vary from one place to another, basic maintenance expenses for luxury yachts in Langkawi was around RM75,000 a month involving minimum crew and berthing charges.

“If it (the Equanimity) is (maintained) here, (allocating RM3 million a month) will be like having all the crew members stay at a high-class hotel, keeping watch on board at all times and entertaining guests almost on a daily basis,” he added.