- Owner - Secrets of the SeaNet system

By SuperyachtNews

Secrets of the SeaNet system

Matty Zadnikar, CEO and founder of SeaNet Europe details how his company hopes to disrupt the traditional ownership model…

SeaNet Europe Ltd is revolutionising the superyacht industry with a unique co-ownership model. Founded in 2016 by Belgian serial entrepreneur and yacht captain Matty Zadnikar, the company’s innovative approach aims to cater to the discerning needs of ultra-high-net-worth individuals seeking the luxury yacht experience, with less of the hassle.

Zadnikar, who has built and owned several superyachts himself, believes that he has noticed a gap in the market for a service that could mitigate common issues such as high maintenance costs, stressful yacht management and frequent crew turnover. This led to the creation of SeaNet Europe, which has since grown its fleet to six yachts with a contract value of €75 million. SuperyachtNews speaks with Zadnikar to find out what differentiates the SeaNet approach in an increasingly complex market.

"All of our co-owners have the financial means to purchase a superyacht outright, but cannot justify spending 30 million on something they use 4 to 6 weeks per year," Says Zadnikar. "Imagine having the same benefits and usage with a fraction of the cash investment."  

Matty Zadnikar, CEO and founder of SeaNet Europe

"When selling a co-ownership model to a prospective client, you cannot do it with a PowerPoint presentation," he continues. "Having the asset to show lends a lot of credibility." 

The assets to which he refers, in this case, is a growing fleet of Benetti motoryachts. “I own a Benetti myself, as a company, Benetti has no investment in SeaNet, it is my choice. I also drive a Bentley, and for me, Benetti is the equivalent in superyachts.”

Benetti Oasis 40M

One of the key challenges to this model of ownership has been holding the interest of a group of different clients in the multi-year process from concept to signing to delivery. As hinted earlier, Zadnikar explains that he has seen many prospective clients cool their interest as the process dragged on.

“Once a client is serious, I invite them to spend two or three nights on board one of the vessels that I co-own. That is where it can fully explain the model and the intricacies of ownership,” he explains. “It is vital to highlight the positives, but equally as important is to be fully transparent about the negatives. Yacht co-ownership is not for everyone.

“I often have a situation, one which my sales team does not always appreciate, where after I have spent time on board with a client, I know that a shared ownership model is not the right fit. And I have no problem advising them against proceeding,” says Zadnikar.

Benetti Oasis 40M

For a prospective client, SeaNet Europe offers a double-season programme. Its fleet is Maltese flagged, VAT paid and not chartered. The numbers behind the expected usage are heavy, at 210 days per year. The seasons each year are expected to be: 1 May through to mid-October in the Mediterranean, and 23 December through 5 March in the winter season. This may be great for an owner, but it is daunting to a crewmember.

However, having worked in the field of oil and gas, and holding a Master 500 ticket himself, Zadnikar is quick to highlight the importance of crew welfare to SeaNet's success. Every crew member in the SeaNet fleet is on a full time-for-time 2:2 rotation, with crossing undertaken with DYT Sevenstar, allowing for more time off and essential maintenance.  

“A dual-season yacht with 30 or 40 days’ leave for crew is unacceptable, in my opinion,” says Zadnikar. “Our crew work very hard, and it is vital that they are happy and healthy. As the old saying goes, it is the crew that makes or breaks a successful guest trip. And keeping our crew engaged and with longevity is crucial to the success of the SeaNet system.”

With a fleet that started with Zadnikar’s own Benetti Delfino 93, SeaNet has its largest yacht, a Benetti Oasis 40M, scheduled for delivery in June 2023.

“Adding this new Benetti Oasis 40M to our fleet is the next step in our growth,” concludes  Zadnikar. “More yacht owners who already own a superyacht and are looking for like-minded co-owners see the enormous financial benefit of yacht co-ownership as well as the hassle-free ownership experience by completely unburdening the yacht, crew and hospitality management. With our proven specialism in yacht co-ownership, all owners only need to worry about having an incredible time with complete peace of mind.”

To find out more about the advantages of the SeaNet Europe model and the new 40m Benetti Oasis, please see the below video.

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